XML 79 R44.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

INTEREST-BEARING LOANS AND BORROWINGS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
INTEREST-BEARING LOANS AND BORROWINGS |
Schedule of interest-bearing loans and borrowings | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | As of December 31,
​ | ​ | Note | ​ | 2022 | ​ | 2023 | ​ | 2023
​ |  | ​ |  | VND million |  | VND million |  | USD
Short-term |  |  |  |  |  |  |  |
Loans from banks |  | 11.1 |  | 6,268,276 | ​ | 21,307,941 |  | 892,815,763
Current portion of long-term loans |  | 11.2 |  | 8,311,277 | ​ | 7,143,376 |  | 299,311,824
Current portion of bonds |  | 11.3 |  | — | ​ | 11,443,465 |  | 479,488,184
TOTAL | ​ | ​ |  | 14,579,553 | ​ | 39,894,782 |  | 1,671,615,771
Long-term |  |  |  |  |  |  |  |
Loans from banks |  | 11.2 |  | 27,652,234 | ​ | 22,590,438 |  | 946,553,172
Bonds |  | 11.3 |  | 13,972,726 | ​ | 7,551,628 |  | 316,417,833
Loans from others | ​ | ​ | ​ | — | ​ | 28,083 | ​ | 1,176,695
TOTAL | ​ | ​ |  | 41,624,960 | ​ | 30,170,149 |  | 1,264,147,700
Schedule of short-term loans from banks and interest rate | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Bank | ​ | As of December 31, 2023 | ​ | Maturity | ​ | Collateral
​ |  | ​ |  | USD |  | ​ |  | ​
​ | ​ | ​ | ​ | (Convenience | ​ | ​ | ​ | ​
​ | ​ | VND million | ​ | translation) | ​ | ​ | ​ | ​
Vietnam Prosperity Joint Stock Commercial |  | 8,357,347 |  | 350,177,952 |  | From January |  | Sharing collateral with a group of
Bank | ​ | ​ | ​ | ​ | ​ | 2024 to | ​ | companies guaranteed the ultimate
​ | ​ | ​ | ​ | ​ | ​ | June 2024 | ​ | parent company
Vietnam Technological and Commercial |  | 4,336,556 |  | 181,704,349 |  | From January to |  | Sharing collateral with a group of
Joint Stock Bank | ​ | ​ | ​ | ​ | ​ | November 2024 | ​ | companies guaranteed the ultimate
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | parent company
Saigon – Hanoi Commercial Joint Stock |  | 1,999,554 |  | 83,782,536 |  | From February |  | Sharing collateral with a group of
Bank | ​ | ​ | ​ | ​ | ​ | 2024 to | ​ | companies guaranteed by certain shares
​ | ​ | ​ | ​ | ​ | ​ | December 2024 | ​ | of the ultimate parent company
Joint stock Commercial Bank for Investment |  | 1,495,421 |  | 62,659,055 |  | From March |  | Certain shares of an affiliate of the
and Development of Viet Nam – Ha Thanh | ​ | ​ | ​ | ​ | ​ | 2024 to June | ​ | Group held by the ultimate parent
Branch | ​ | ​ | ​ | ​ | ​ | 2024 | ​ | company
Joint stock Commercial Bank for Investment |  | 1,300,000 |  | 54,470,795 |  | From April |  | Certain shares of an affiliate of the
and Development of Viet Nam – Quang | ​ | ​ | ​ | ​ | ​ | 2024 to June | ​ | Group held by the ultimate parent
Trung Branch | ​ | ​ | ​ | ​ | ​ | 2024 | ​ | company
Westlake Flooring Company, LLC |  | 824,671 |  | 34,554,219 |  | May 2024 |  | Vehicles under loan contract
Ho Chi Minh City Development Joint Stock |  | 2,994,392 |  | 125,466,857 |  | From January |  | Certain shares of an affiliate of the
Commercial Bank | ​ | ​ | ​ | ​ | ​ | 2024 to | ​ | Group held by the ultimate parent
​ | ​ | ​ | ​ | ​ | ​ | June 2024 | ​ | company
TOTAL |  | 21,307,941 |  | 892,815,763 |  |  |  |
​
​ | ​ | ​ | ​ | ​
Loans and borrowings |  | Currency |  | Interest rate applicable in 2023
Short-term Loans | ​ | VND | ​ | From 6.7% to 15%
UPAS Letter of Credit | ​ | VND | ​ | From 10.5% to 14.5%
Schedule of long-term loans from banks and interest rate | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Lenders | ​ | As of December 31, 2023 | ​ | Maturity date | ​ | Collateral
​ |  | ​ |  | USD |  | ​ |  | ​
​ | ​ | ​ | ​ | (Convenience | ​ | ​ | ​ | ​
​ | ​ | VND million | ​ | translation) | ​ | ​ | ​ | ​
Syndicated loan No.1 |  | 13,997,995 |  | 586,524,554 |  | From March 2024 to September 2030 |  | (i)
In which: current portion |  | 2,176,904 |  | 91,213,609 |  |  |  |
Syndicated loan No.2 |  | 4,473,261 |  | 187,432,372 |  | From May 2024 to November 2024 |  | (i)
In which: current portion |  | 4,473,261 |  | 187,432,372 |  |  |  |
Syndicated loan No.4 |  | 2,200,874 |  | 92,217,967 |  | From June 2024 to December 2026 |  | (i)
In which: current portion |  | 358,215 |  | 15,009,428 |  |  |  |
Syndicated loan No.5 |  | 3,127,891 |  | 131,060,546 |  | From November 2024 to November 2029 |  | (i)
In which: current portion | ​ | 129,791 | ​ | 5,438,322 | ​ | ​ | ​ | ​
Syndicated loan No.6 |  | 5,918,804 |  | 248,001,508 |  | From November 2025 to November 2026 |  | (i)
Loan from others |  | 14,989 |  | 628,049 |  | From January 2024 to October 2026 |  | Unsercured
In which: current portion |  | 5,205 |  | 218,093 |  |  |  |
TOTAL |  | 29,733,814 |  | 1,245,864,996 |  |  |  |
In which: |  |  |  |  |  |  |  |
Non-current portion |  | 22,590,438 |  | 946,553,172 |  |  |  |
Current portion |  | 7,143,376 |  | 299,311,824 |  |  |  |
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Lenders |  | As of December 31, 2022 |  | Maturity date |  | Collateral
​ |  | ​ |  | USD |  | ​ |  | ​
​ | ​ | ​ | ​ | (Convenience | ​ | ​ | ​ | ​
​ | ​ | VND million | ​ | translation) | ​ | ​ | ​ | ​
Syndicated loan No.1 | ​ | 15,287,959 |  | 640,574,834 | ​ | From March 2023 to September 2030 | ​ | (i)
In which: current portion | ​ | 2,119,385 |  | 88,803,528 | ​ |  | ​ |
Syndicated loan No.2 | ​ | 5,563,099 |  | 233,097,251 | ​ | From May 2023 to November 2024 | ​ | (i)
In which: current portion | ​ | 1,277,045 |  | 53,508,967 | ​ |  | ​ |
Syndicated loan No.3 | ​ | 4,714,072 |  | 197,522,501 | ​ | April 2023 | ​ | (i)
In which: current portion | ​ | 4,714,072 |  | 197,522,501 | ​ |  | ​ |
Syndicated loan No.4 | ​ | 2,290,606 |  | 95,977,793 | ​ | From December 2023 to December 2026 | ​ | (i)
In which: current portion | ​ | 176,775 | ​ | 7,406,981 | ​ | ​ | ​ | ​
Syndicated loan No.5 | ​ | 2,912,644 | ​ | 122,041,565 | ​ | From November 2024 to November 2029 | ​ | (i)
Syndicated loan No.6 | ​ | 5,137,283 | ​ | 215,255,300 | ​ | From November 2025 to November 2026 | ​ | (i)
Other loan from bank | ​ | 57,848 |  | 2,423,868 | ​ | From March 2023 to December 2024 | ​ | (i)
In which: current portion | ​ | 24,000 |  | 1,005,614 | ​ |  | ​ |
TOTAL | ​ | 35,963,511 |  | 1,506,893,112 | ​ |  | ​ |
In which: | ​ | ​ |  | ​ | ​ |  | ​ |
Non-current portion | ​ | 27,652,234 |  | 1,158,645,521 | ​ |  | ​ |
Current portion | ​ | 8,311,277 |  | 348,247,591 | ​ |  | ​ |
(i) | As of December 31, 2023 and 2022, these long-term loans were secured by:
| ● | Property, plant and equipment (Note 9), the Debt Service Reserve Account at the offshore account management bank, the Revenue Account at a commercial bank with outstanding balance and accumulated other related benefits arising from such account;
​ 11.INTEREST-BEARING LOANS AND BORROWINGS (continued)
| ● | Certain shares of an affiliate held by another affiliate, certain shares of another subsidiary held by the ultimate parent company;
| ● | Payment guarantee from the ultimate parent company and a commercial bank. The payment guarantee from the commercial bank is secured by certain properties held by affiliates;
​
​ | ​ | ​ | ​ | ​
Loans and borrowings |  | Currency |  | Interest rate applicable in 2023
Secured loans | ​ | VND | ​ | Floating interest rate, determined by the bank every six months, 10.2% to 11.8% per annum
Secured loans without swap contract | ​ | USD | ​ | Floating interest rate, from 4.93% to 9.09% per annum
Secured loans with floating interest rate swapped for fixed interest rate (also fixed transaction rate) under swap contracts (Note 20A) | ​ | USD | ​ | Fixed interest rate under swap contract from 4.1% to 9.15% per annum

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69B -Publisher FASB -URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69E -Publisher FASB -URI https://asc.fasb.org//1943274/2147481568/470-20-55-69E Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482925/835-30-45-2 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482925/835-30-45-1A Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-3 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482949/835-30-55-8 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480848/942-470-50-3 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-8 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-6 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-7 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 + Details
Name: | us-gaap_ScheduleOfShortTermDebtTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration