Nova Saigon Royal reports loss and bond payment delays

Nova Saigon Royal, a subsidiary of Novaland, reported a net loss of over 49.6 billion VND for the first half of 2026, a significant decline from the profit of 33.3 billion VND recorded during the same period last year. The company's total liabilities reached nearly 1,450.6 billion VND.

The company has also experienced difficulties with bond obligations, reporting a late payment of approximately 9.7 billion VND in principal for bond series NSRCH2223001. It currently owes approximately 916.3 billion VND in principal and over 51 billion VND in unpaid interest. Nova Saigon Royal stated that the delay is due to an inability to arrange sufficient funds and is currently negotiating with investors.

Separately, the iconic Kem Tràng Tiền flagship store at 35 Tràng Tiền in Hanoi is scheduled to close its current location on September 15. The brand will relocate to new sites at 18 Hàng Bài, 44 Tràng Tiền, and 18 Ngô Quyền. Despite the relocation, the brand owner reportedly faces accumulated losses of nearly 383 billion VND.