Co. has been in talks with a Hong Kong investor and a firm with offices in Singapore to sell $100 million of debt as soon as 3Q to fund its projects, Chairman Trinh Van Quyet says in phone interview.
Co. will sell another $100 million of bonds by end of 4Q or early 2018. FLC will conduct roadshows for overseas debt sales in either 3Q or 4Q.
Co. has been working with Vietnam’s aviation authority as it seeks to set up an airline with registered capital of 700b dong. Proposal will be sent to Ministry of Transportation and govt office for approval.
FLC expects to start flights in 2018 with aim of transporting passengers to its hotel and resort projects around the country.
Co. has been doing land clearance for $2b casino-resort project in Ngoc Vung island in northern province of Quang Ninh. Construction expected to be finished in 2019
After project is completed, FLC will seek govt approval for casino developer and permission to accept Vietnamese gamblers.
FLC expects to meet its pretax profit target of 1.3t dong this year.
Shares of FLC have risen 35% this year vs 13% gain in benchmark VN Index.