Phat Dat (PDR) has completed the acquisition of 50% of AKYN’s capital to develop a housing project at 239 Cach Mang Thang 8, Ho Chi Minh City, with a total investment of 5,500 billion VND planned for 2026-2030. AKYN, originally with a capital of 68 billion VND, has undergone changes in shareholders and its name since 2019 and recently reduced its capital from 2.018 trillion to 513 billion VND. This project has been approved by the local government in District 3 to renovate old apartments. Despite making efforts to acquire common area land, the issue remains unresolved. In terms of business performance, in Q3 2025, PDR reported revenues of 506.5 billion VND, a significant increase compared to the previous year. After-tax profit reached 85.8 billion VND, showing considerable growth. The company still faces financial pressure with interest debt of about 74 billion VND but has improved its debt structure. Operating cash flow remains negative at -131.8 billion VND but has improved compared to last year. PDR is restarting projects to leverage market recovery opportunities.
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