AES MONG DUONG POWER COMPANY LIMITED, registered under the Business ID (TIN) 5701384498, is located at Mong Duong Ward, Cam Pha City, Quang Ninh Province, Vietnam. The company commenced operations on 08 Apr 2010, marking its official entry into the business sector. With a charter capital of VND 7,796,416,896,000, AES MONG DUONG POWER COMPANY LIMITED is financially equipped to support its business activities. The company specializes in electric power generation, providing a diverse range of products and services. The strategic decisions of AES MONG DUONG POWER COMPANY LIMITED are overseen by JOSEPH F.U.I, who plays a critical role in guiding the company's direction.
Founded in Apr 2010 in Quang Ninh Province, the subject is known as the investor of Mong Duong 2 Thermal Power Plant of 1,242 MW in total with 02 units of 621 MW each. This was known as Vietnam’s first Build–Operate–Transfer (BOT) coal-fired power project. The construction of Mong Duong 2 Thermal Power Plant was completed in 2015 and run commercial operation in Apr 2015, accordingly, it has signed a 25-year Power Purchase Agreement (PPA) with Vietnam Electricity (EVN), after that it will be transferred to the Government of Vietnam.
Currently, AES MONG DUONG HOLDINGS B.V is known as the biggest shareholder with an ownership ratio of 51%. According to the Media Mass, On 30 Nov 2023, AES Corporation announced that it had reached an agreement to sell 51% of its shares in the subject to Se.ven Global Investments - an enterprise based in Czech Republic. After being approved by the Vietnamese Government and the Ministry of Industry and Trade, AES Corporation is expected to complete the transaction by the end of 2025. In late 2020, this corporation had ever announced that it signed an agreement to sell its entire equity interest in the subject to a consortium led by a US-based investor.
As reported data, its business scale is Extremely Large and its operation was efficient. Net sales and net income recorded hugely at VND 13,893.3 billion and VND 3,150.4 billion last year, respectively. Besides paying large dividends annually, Retained earnings were still VND 5,147.9 billion as of 31 Dec 2023. Operating activities brought a huge amount of cash inflow for the subject annually which helped the subject reduce debts. Thanks to that, Liabilities by Total Assets and Debt to Assets Ratio tended to decrease and were recorded at 54.23% and 48.48% at the end of 2023, respectively. Due to the large scale of its project, the debts were still huge on the side of quantity. Despite decreasing, Loan interest expenses were still VND 916.9 billion last year. Anyway, Instant payment capacity was also satisfactory with Cash Ratio of above 0.27 times. In general, transactions could be proceeded.
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