Real estate is managed by C.T Land Joint Stock Company, which has an authorised capital of VND4 trillion.
Amidst the COVID-19 pandemic, many large property developers have trillions or even hundreds of trillions of đồng worth of debts.
There have been some reports in the unofficial media that C.T Group has massive debts. But, as attested by the State Bank of Viet Nam’s Credit Information Centre, C.T Group is not only debt-free but has not had any debts in the last five years.
As an old conglomerate founded in 1992, C.T Group operates with an eco-system of five main industries: real estate, construction, finance, retail, and tourism.
Research Unit: Viet Nam International Bank
Address: Floor 1 – 6 – 7, Corner Stone, 16 Phan Chu Trinh Street, Hoan Kiem District, Ha Noi
Ticket No.: 3123123131
Time of request: 07:46 – 14/4/2020
Time of delivery of report: 07:46 – 14/4/2020
1. CUSTOMER INFO
| Customer Name: |
C.T Group |
| CIC Code |
7900109475 |
| Address: |
60A Truong Son Street, Tan Binh District, HCM City |
| Tax Identification Number/Business Code: |
0308469355 |
| Business Registration Number/Investment permit: |
0308469355 |
| General Director (Director): |
|
2. RESPONSE
The CIC database does not have any information about the customers borrowings and card debts in the last five years.
A translation of the Credit Information Centre showing C.T has had no debts in the last five years
An appraisal of 11 out of C.T Groups 80 projects done by British company Colliers International showed that its total assets were worth over US$1 billion (VND25 trillion).
The combined value of products that were sold but for which payments are due and products on sale currently is worth VND11 trillion, much more than the total debts of C.T. Groups subsidiaries.
The group has around 60 projects for launch in 2021, according to its executive board.
C.T Group uses Big 4 audit firms to audit subsidiaries that are to be listed soon.