20/05/2020 - 08:43

[DXG VN] Big bet on Gem Sky World

Big bet on Gem Sky World

► We attended DXG’s May 15 kick-off event for Gem Sky World (92ha).

► DXG retains its ambitious 2020 launch plans of c.6,000 units from 5 projects, including 4,000 units from Gem Sky World.

► DXG guides for 2020 revenues of VND4.9trn (down 15.7% YoY).

► DXG’s liquidity should be sufficient this year given their statement that they have a VND 1.3tn credit line set up.

► Gem Sky World is a key driver but executing on schedule is crucial.

► DXG could face challenges in maintaining its earnings momentum from real estate services in 2020, in our opinion.

For the complete report, please access here: DXG Company Visit–Big bet on Gem Sky World