Nam Kim Steel invests 400 billion VND in Thu Thiem project

Nam Kim Steel Joint Stock Company (NKG) has reported significant financial activity in its 2026 semi-annual reviewed consolidated financial statements. During the first six months of the year, the company recorded net revenue of over 7,400 billion VND, a 6% decrease compared to the same period last year, while after-tax profit reached over 124 billion VND, doubling the previous year's figure.

Short-term financial investments for NKG rose sharply from approximately 835 billion VND to nearly 3,200 billion VND within six months. This includes 76 billion VND in business securities and approximately 3,100 billion VND in short-term held-to-maturity investments. Notably, NKG has provided three loans to third parties totaling approximately 806 billion VND. The largest loan, worth 356 billion VND, was issued to Techcom Securities Joint Stock Company. Additionally, Nam Kim Steel lent 350 billion VND to Nguyen Van Dat, Chairman of Phat Dat Real Estate Development Joint Stock Company (PDR), and 100 billion VND to HBM Real Estate Investment and Business Co., Ltd. These loans are guaranteed by Phat Dat Real Estate.

Furthermore, Nam Kim Steel recorded a 400 billion VND investment under “Other investments” related to Phat Dat. This amount serves as a deposit under an investment cooperation agreement to participate in the Lotte Eco Smart City Thu Thiem project, which has an estimated total investment of 60,000 billion VND. Per the agreement signed in April, if a formal investment cooperation contract is not signed by December 30, 2026, the funds must be returned to Nam Kim with a 15% annual interest rate.