(TBTCO) – Ben Tre Pharmaceutical Joint Stock Company (stock code DBT, HOSE) has just decided to transfer the bank loan limit to another company.
Specifically, the Board of Directors of Ben Tre Pharmaceutical has approved the transfer of this company’s loan limit at a bank to Yen Bai Pharmaceutical Joint Stock Company.
The limit includes borrowing, LC opening, guarantees and other credit operations, with a total amount of 30 billion VND or USD equivalent to serve production and business activities.
|Ben Tre Pharmaceutical transferred the bank loan limit to its subsidiary. Photo: TL
|Ha Tay Pharmaceutical: Third quarter profit decreased due to increased interest expenses Dai Thien Loc mortgaged assets for its subsidiary to borrow from banks
Ben Tre Pharmaceutical commits to repay all credit obligations of Yen Bai Pharmaceutical in case Yen Bai Pharmaceutical has not paid its due obligations.
Yen Bai Pharmaceutical is one of two subsidiaries of Ben Tre Pharmaceutical with Ben Tre Pharmaceutical holding 92.4% of the shares. The remaining subsidiary is Bepharco Healthcare Joint Stock Company. In addition, Ben Tre Pharmaceutical also has an affiliated company, Ypharco Healthcare Joint Stock Company.
Ben Tre Pharmaceutical has equity of 241 billion VND, while liabilities are 598 billion VND, of which mainly short-term debt is 583 billion VND. Short-term loans and financial lease debt alone are 457 billion VND.
Regarding business recently, Ben Tre Pharmaceutical’s profit after corporate income tax reached more than 615 million VND, down 88.62% over the same period. Net cash flow from business activities in the first 9 months of 2023 is negative more than 24 billion VND, while in the same period last year it was negative 12.6 billion VND.
The company said the reason for the decrease in profits comes from the general difficulties of the economy, affecting people’s spending on health care activities. This caused net revenue to decrease by 7% over the same period, while high interest costs were also a factor in reducing profits./.