- Decision approving feasible projects and related documents.
- Business registration certificate, tax code, project-related contracts, financial statements, tax reports of the enterprise in 2013 and 2014, some input and output invoices, debts, project feasibility study report.
In general, the types of documents submitted by customers for appraisal are complete in quantity and ensure validity according to current regulations of the bank.
2. Loan customer appraisal
-Regarding the legal capacity of the customer:
AC Tourism and Construction Investment Joint Stock Company was established under the business registration certificate No. XXX issued by the Business Registration Office, Department of Planning and Investment of O province with the main business line: Real estate business, land use rights of owners, users or tenants.
-Regarding the business and financial situation of the enterprise:
According to the financial reports of 2014 and 2013, the enterprise has a stable financial situation, the tax report shows that the enterprise has been profitable over the years, with no accumulated losses. The enterprise does not have a financial imbalance, the payment ratios, debt ratios, and capital turnover show that the enterprise has good growth potential. Moreover, the Enterprise is a regular customer of the Branch, so the Enterprise has full capacity to borrow capital at the Branch.
3. Investment project appraisal
-Necessity of the project
- B Resort Beach Resort after being put into operation will be a high-class resort that meets the needs of the people. According to experts' forecasts, in the near future, the demand of tourists for high-class entertainment and relaxation services will be very high. Tourists coming here need a real place to relax and entertain, they will enjoy the comfortable and refreshing feeling of high-class services.
- The project was formed to bring useful value to the community.
The basis for establishing an advanced management system and modern technology is to create outstanding high-quality tourism services - a very necessary factor in providing tourism services, meeting the current needs of the people.
- Project market analysis
- City N is one of the priority cities for tourism development, a tourist destination of special importance in Vietnam. With the goal of attracting 8 million international visitors to Vietnam in 2015 and 12 million in 2020, and serving 28 million domestic visitors in 2015 and 35 million in 2020, the available tourism potential such as harmonious natural complexes, along with famous historical sites and mausoleums will attract many tourists.
- In addition, the real estate market has recently had many positive changes. With available tourism potential combined with infrastructure advantages, City N is gradually asserting its position in the real estate sector, especially the resort market segment. A series of tourism real estate investment projects have been and are being implemented in coastal areas from the city to the districts. These are encouraging signs in attracting investment in this field of O province in recent times. In the past three years, there have been many tourism real estate projects under construction in the province. Although not as bustling as other product lines of the real estate market, the appearance of this new tourism real estate product has also contributed to making the market more vibrant and well received by many people. It can be said that investing in tourism real estate is a new and rapidly developing business investment trend in O Province. Most of the current tourism real estate projects are concentrated in coastal areas, with beautiful locations, fresh living environments, close to nature. Enterprises focus on investing in many large-scale, well-designed real estate projects. Although born during the hot and cold real estate market, tourism real estate products are still chosen by many investors as a safe investment channel.
The investment of AC Tourism and Construction Investment Joint Stock Company in building B Resort tourist area has great significance for the long-term strategic development of the Company, contributing to the development of the locality.
-Project construction site
- The project owns a very beautiful location right at the gateway to the city and is built on a land area of over 9024 m2 within a total area of 54310 m2 . With a unique architectural style in harmony with nature, convenient transportation and being the resort closest to the city center, the B Resort Beach Tourism Project is still a good development potential in the near future.
- Project financial analysis
Total investment according to estimate
Total investment (including VAT): 824,926,690,000 VND
Total investment includes costs: architectural construction costs, equipment costs, project management costs, consulting and construction investment costs, other costs, business costs, and interest costs during construction.
STT
EXPENSE ITEM | BEFORE TAX VALUE | VAT | VALUE AFTER TAX | |
I | Construction costs | 699.703.407.076 | 61,594,882,121 | 761.298.289.197 |
1 | Value Invested | 417.304.875.636 | 36,923,350,179 | 454.228.225.815 |
2 | Remaining value to be invested | 282,398,531,440 | 24,671,531,942 | 307.070.063.382 |
II | Interest during construction | 63.628.401.180 | 63.628.401.180 | |
TOTAL | 763,331,808,000 | 61,594,882,000 | 824,926,690,000 |
Maybe you are interested!
-
Investment Project Appraisal Process in Commercial Bank Lending Activities -
Identify Rating Levels and Rating Scales
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of the islanders. Therefore, this indicator will be divided into two sub-indicators:
a1. Natural tourism attractiveness a2. Cultural tourism attractiveness
b. Tourist capacity
The two island communes in Quan Lan have different capacities to receive tourists. Minh Chau Commune is home to many standard hotels and resorts, attracting high-income domestic and international tourists. Meanwhile, Quan Lan Commune has many motels mainly built and operated by local people, so the scale and quality are not high, and will be suitable for ordinary tourists such as students.
c. Time of exploitation of Quan Lan Island Commune:
Quan Lan tourism is seasonal due to weather and climate conditions and festivals only take place on certain days of the year, specifically in spring. In Quan Lan commune, the period from April to June and from September to November is considered the best time to visit Quan Lan because the cultural tourism activities are mainly associated with festivals taking place during this time.
Minh Chau island commune:
Tourism exploitation time is all year round, because this is a place with a number of tourist attractions with diverse ecosystems such as Bai Tu Long National Park Research Center, Tram forest, Turtle Laying Beach, so besides coming to the beach for tourism and vacation in the summer, Minh Chau will attract research groups to come for tourism combined with research at other times of the year.
d. Sustainability
The sustainability of ecotourism sites in Quan Lan and Minh Chau communes depends on the sensitivity of the ecosystems to climate changes.
landscape. In general, these tourist destinations have a fairly high level of sustainability, because they are natural ecosystems, planned and protected. However, if a large number of tourists gather at certain times, it can exceed the carrying capacity and affect the sustainability of the environment (polluted beaches, damaged trees, animals moving away from their habitats, etc.), then the sustainability of the above ecosystems (natural ecosystems, human ecosystems) will also be affected and become less sustainable.
e. Location and accessibility
Both island communes have ports to take tourists to visit from Van Don wharf:
- Quan Lan – Van Don traffic route:
Phuc Thinh – Viet Anh high-speed boat and Quang Minh high-speed boat, depart at 8am and 2pm from Van Don to Quan Lan, and at 7am and 1pm from Quan Lan to Van Don. There are also wooden boats departing at 7am and 1pm.
- Van Don - Minh Chau traffic route:
Chung Huong high-speed train, Minh Chau train, morning 7:30 and afternoon 13:30 from Van Don to Minh Chau, morning 6:30 and afternoon 13:00 from Minh Chau to Van Don.
f. Infrastructure
Despite receiving investment attention, the issue of infrastructure and technical facilities for tourism on Quan Lan Island is still an issue that needs to be resolved because it has a direct impact on the implementation of ecotourism activities. The minimum conditions for serving tourists such as accommodation, electricity, water, communication, especially medical services, and security work need to be given top priority. Ecotourism spots in Minh Chau commune are assessed to have better infrastructure and technical facilities for tourism because there are quite complete and synchronous conditions for serving tourists, meeting many needs of domestic and foreign tourists.
3.2.1.4. Determine assessment levels and assessment scales
Corresponding to the levels of each criterion, the index is the score of those levels in the order of 4, 3, 2, 1 decreasing according to the standard of each level: very attractive (4), attractive (3), average (2), less attractive (1).
3.2.1.5. Determining the coefficients of the criteria
For the assessment of DLST in the two communes of Quan Lan and Minh Chau islands, the students added evaluation coefficients to show the importance of the criteria and indicators as follows:
Coefficient 3 with criteria: Attractiveness, Exploitation time. These are the 2 most important criteria for attracting tourists to tourism in general and eco-tourism in particular, so they have the highest coefficient.
Coefficient 2 with criteria: Capacity, Infrastructure, Location and accessibility . Because the assessment area is an island commune of Van Don district, the above criteria are selected by the author with appropriate coefficients at the average level.
Coefficient 1 with criteria: Sustainability. Quan Lan has natural and human-made ecotourism sites, with high biodiversity and little impact from local human factors. Most of the ecotourism sites are still wild, so they are highly sustainable.
3.2.1.6. Results of DLST assessment on Quan Lan island
a. Assessment of the potential for natural tourism development
For Minh Chau commune:
+ Natural tourism attractiveness is determined to be very attractive (4 points) and the most important coefficient (coefficient 3), so the score of the Attractiveness criterion is 4 x 3 = 12.
+ Capacity is determined as average (2 points) and the coefficient is quite important (coefficient 2), then the score of Capacity criterion is 2 x 2 = 4.
+ Exploitation time is long (4 points), the most important coefficient (coefficient 3) so the score of the Exploitation time criterion is 4 x 3 = 12.
+ Sustainability is determined as sustainable (4 points), the important coefficient is the average coefficient (coefficient 1), so the score of the Sustainability criterion is 4 x 1 = 4 points
+ Location and accessibility are determined to be quite favorable (2 points), the coefficient is quite important (coefficient 2), the criterion score is 2 x 2 = 4 points.
+ Infrastructure is assessed as good (3 points), the coefficient is quite important (coefficient 2), then the score of the Infrastructure criterion is 3 x 2 = 6 points.
The total score for evaluating DLST in Minh Chau commune according to 6 evaluation criteria is determined as: 12 + 4 + 12 + 4 + 4 + 6 = 42 points
Similar assessment for Quan Lan commune, we have the following table:
Table 3.3: Assessment of the potential for natural ecotourism development in Quan Lan and Minh Chau communes
Attractiveness of self-tourismof course
Capacity
Mining time
Sustainability
Location and accessibility
Infrastructure
Result
Point
DarkMulti
Point
DarkMulti
Point
DarkMulti
Point
DarkMulti
Point
DarkMulti
Point
DarkMulti
CommuneMinh Chau
12
12
4
8
12
12
4
4
4
8
6
8
42/52
Quan CommuneLan
6
12
6
8
9
12
4
4
4
8
4
8
33/52
b. Assessment of the potential for humanistic tourism development
For Quan Lan commune:
+ The attractiveness of human tourism is determined to be very attractive (4 points) and the most important coefficient (coefficient 3), so the score of the Attractiveness criterion is 4 x 3 = 12.
+ Capacity is determined to be large (3 points) and the coefficient is quite important (coefficient 2), then the score of the Capacity criterion is 3 x 2 = 6.
+ Mining time is average (3 points), the most important coefficient (coefficient 3) so the score of the Mining time criterion is 3 x 3 = 9.
+ Sustainability is determined as sustainable (4 points), the important coefficient is the average coefficient (coefficient 1), so the score of the Sustainability criterion is 4 x 1 = 4 points.
+ Location and accessibility are determined to be quite favorable (2 points), the coefficient is quite important (coefficient 2), the criterion score is 2 x 2 = 4 points.
+ Infrastructure is rated as average (2 points), the coefficient is quite important (coefficient 2), then the score of the Infrastructure criterion is 2 x 2 = 4 points.
The total score for evaluating DLST in Quan Lan commune according to 6 evaluation criteria is determined as: 12 + 6 + 6 + 4 + 4 + 4 = 36 points.
Similar assessment with Minh Chau commune we have the following table:
Table 3.4: Assessment of the potential for developing humanistic eco-tourism in Quan Lan and Minh Chau communes
Attractiveness of human tourismliterature
Capacity
Mining time
Sustainability
Location and accessibility
Infrastructure
Result
Point
DarkMulti
Point
DarkMulti
Point
DarkMulti
Point
DarkMulti
Point
DarkMulti
Point
DarkMulti
Quan CommuneLan
12
12
6
8
9
12
4
4
4
8
4
8
39/52
Minh CommuneChau
6
12
4
8
12
12
4
4
4
8
6
8
36/52
Basically, both Minh Chau and Quan Lan localities have quite favorable conditions for developing ecotourism. However, Quan Lan commune has more advantages to develop ecotourism in a humanistic direction, because this is an area with many famous historical relics such as Quan Lan Communal House, Quan Lan Pagoda, Temple worshiping the hero Tran Khanh Du, ... along with local festivals held annually such as the wind praying ceremony (March 15), Quan Lan festival (June 10-19); due to its location near the port and long exploitation time, the beaches in Quan Lan commune (especially Quan Lan beach) are no longer hygienic and clean to ensure the needs of tourists coming to relax and swim; this is also an area with many beautiful landscapes such as Got Beo wind pass, Ong Phong head, Voi Voi cave, but the ability to access these places is still very limited (dirt hill road, lots of gravel and rocks), especially during rainy and windy times; In addition, other natural resources such as mangrove forests and sea worms have not been really exploited for tourism purposes and ecotourism development. On the contrary, Minh Chau commune has more advantages in developing ecotourism in the direction of natural tourism, this is an area with diverse ecosystems such as at Rua De Beach, Bai Tu Long National Park Conservation Center...; Minh Chau beach is highly appreciated for its natural beauty and cleanliness, ranked in the top ten most beautiful beaches in Vietnam; Minh Chau commune is also home to Tram forest with a large area and a purity of up to 90%, suitable for building bridges through the forest (a very effective type of natural ecotourism currently applied by many countries) for tourists to sightsee, as well as for the purpose of studying and researching.
Figure 3.1: Thenmala Forest Bridge (India) Source: https://www.thenmalaecotourism.com/(August 21, 2019)
3.2.2. Using SWOT matrix to evaluate Quan Lan island tourism
General assessment of current tourism activities of Quan Lan island is shown through the following SWOT matrix:
Table 3.5: SWOT matrix evaluating tourism activities on Quan Lan island
Internal agent
Strengths- There is a lot of potential for tourism development, especially natural ecotourism and humanistic ecotourism.- The unskilled labor force is relatively abundant.- resource environmentunpolluted, still
Weaknesses- Poorly developed infrastructure, especially traffic routes to tourist destinations on the island.- The team of professional staff is still weak.- Tourism products in general
quite wild, originalintact
general and DLST in particularalone is monotonous.
External agents
Opportunity- Tourism is a key industry in the socio-economic development strategy of the province and Van Don economic zone.- Quan Lan was selected as a pilot area for eco-tourism development within the framework of the green growth project between Quang Ninh province and the Japanese organization JICA.- The flow of tourists and especially ecotourism in the world tends toincreasing
Challenge- Weather and climate change abnormally.- Competition in tourism products is increasingly fierce, especially with other localities in the province such as Ha Long, Mong Cai...- Awareness of tourists, especially domestic tourists, about ecotourism and nature conservation is not high.
Through summary analysis using SWOT matrix we see that:
To exploit strengths and take advantage of opportunities, it is necessary to:
- Diversify products and service types (build more tourism routes aimed at specific needs of tourists: experiential tourism immersed in nature, spiritual cultural tourism...)
- Effective exploitation of resources and differentiated products (natural resources and human resources)
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Environmental impact assessment of Thanh Minh industrial cluster infrastructure investment project, Phu Tho town, Phu Tho Province - 2 -
General Assessment of the Current Situation of Public Investment Capital Management at the Ministry of Health in the Period 2016 - 2020 -
Investment Project Appraisal Method of NHTM
Project investment capital
STT
EXPENSE ITEM | CAPITAL CAPITAL | VALUE AFTER TAX | |
1 | Equity | 20.4% | 168,000,000,000 |
2 | Capital mobilized from customers | 67.5% | 556.926.690.377 |
3 | Long term loans | 12.1% | 300,000,000,000 |
3.1 | Swap old bond package | 200,000,000,000 | |
3.2 | Invest in the project | 100,000,000,000 | |
TOTAL | 100.0% | 824,926,690,000 |
- For B Resort, the basis for calculating the total investment is determined based on the following specific grounds:
- Construction costs are calculated based on calculated volumes and construction unit prices in accordance with prices and specific conditions of Province O at the time of the first quarter of 2014.
- Equipment costs including M&E equipment are estimated based on quantity, type, and value of each type of equipment.
M&E section
+ Electric power system.
+ Light electrical system.
+ Fire protection system.
+ Water supply system.
+ Drainage system.
+ Rainwater drainage system.
+ Air conditioning and ventilation system.
- Management costs, consulting and construction investment costs, and other costs are calculated according to current regulations, including:
Costs during the survey phase.
Costs during project preparation phase.
Costs during the investment implementation phase.
Management costs according to Official Dispatch No. 957/QD-BXD include:
+ General project management.
+ Organizing the implementation of site clearance compensation is the responsibility of the Investor.
+ Appraisal of technical design, construction drawing design, cost estimates and total project cost estimates.
+ Construction supervision; construction equipment installation supervision; construction survey supervision.
+ Acceptance of works put into use.
+ Final settlement and conversion of construction investment capital.
+ Perform other tasks (organize investment project appraisal, appraise cost estimates of consulting jobs that require estimates and other tasks).
- Expected project performance results:
Estimated Revenue – Costs for 22 years achieved:
Estimated revenue from 2014 - 2036 of the project: 1,866 billion VND Estimated cost from 2014 - 2036 of the project: 1,123 billion VND Gross profit (EBIDA): 742 billion VND
Profit before interest expense: 715 billion VND
Profit before tax (EBT): 567 billion VND
Profit after tax: 406 billion VND
In there:
Revenue and expense details for the first 3 years (2014 – 2016)
2014 | 2015 | 2016 | |
Service rental revenue | |||
Resort revenue | 300.729.925.501 | 167.358.210.266 | 184.665.582.149 |
Restaurant revenue | - | 33,638,400,000 | 33,638,400,000 |
Total revenue | 300.729.925.501 | 200.996.610.266 | 218.303.982.149 |
Resort costs | 437.899.131.586 | 214,598,351,452 | 123.059.444.303 |
Investment costs for resort apartments | 437.899.131.586 | 213.005.700.102 | 120.730.302.345 |
Resort business costs (sales and brokerage costs) | - | 1,592,651,351 | 2,329,141,958 |
Shopping mall costs | - | - | - |
Shopping mall repair costs | - | - | - |
Restaurant Costs | - | 13,735,272,961 | 13,733,811,205 |
Restaurant operating costs | - | 13,684,111,500 | 13,684,111,500 |
Restaurant repair costs | - | 51,161,461 | 49,699,705 |
Total cost | 437.899.131.586 | 228,333,624,413 | 136,793,255,508 |
Gross profit (EBIDA) | (137.169.206.085) | (27,337,014,148) | 81,510,726,641 |
Depreciation | - | 730.878.015 | 730.878.015 |
Shopping mall depreciation | - | - | - |
Restaurant depreciation | - | 730.878.015 | 730.878.015 |
Earnings before interest expense | (137.169.206.085) | (28,067,892,162) | 80.779.848.626 |
Financial costs | - | - |
Financial costs (interest during the exploitation period)
Financial costs (realized interest) | |||
Earnings before taxes (EBT) | (137.169.206.085) | (28,067,892,162) | 80.779.848.626 |
Income tax | - | - | 17,771,566,698 |
Profit after tax | (137.169.206.085) | (28,067,892,162) | 63,008,281,928 |
Accumulated profit over the years | (137.169.206.085) | (165.237.098.247) | (102,228,816,319) |
Revenue and expense details for the next 3 years (2017 – 2019)
2017 | 2018 | 2019 | |
Service rental revenue | 3,469,520,000 | 3,469,520,000 | 3,469,520,000 |
Resort revenue | 153.786.087.585 | 97,432,646,614 | 57,363,792,654 |
Restaurant revenue | 33,638,400,000 | 35,740,800,000 | 35,740,800,000 |
Total revenue | 190.894.007.585 | 136,642,966,614 | 96,574,112,654 |
Resort costs | 2,306,791,314 | 1,461,489,699 | 594,619,724 |
Investment costs for resort apartments | |||
Resort business costs (sales and brokerage costs) | 2,306,791,314 | 1,461,489,699 | 594,619,724 |
Shopping mall costs | 55,421,652 | 54,313,219 | 53,204,786 |
Shopping mall repair costs | 55,421,652 | 54,313,219 | 53,204,786 |
Restaurant Costs | 13,806,063,824 | 14,561,466,068 | 14,638,404,406 |
Restaurant operating costs | 13,757,825,875 | 14,514,689,875 | 14,593,089,969 |
Restaurant repair costs | 48,237,949 | 46,776,193 | 45,314,437 |
Total cost | 16,168,276,789 | 16,077,268,986 | 15,286,228,915 |
Gross profit (EBIDA) | 174,725,730,795 | 120.565.697.628 | 81,287,883,739 |
Depreciation | 1,285,094,531 | 1,285,094,531 | 1,285,094,531 |
Shopping mall depreciation
554,216,517 | 554,216,517 | 554,216,517 | |
Restaurant depreciation | 730.878.015 | 730.878.015 | 730.878.015 |
Earnings before interest expense | 173,440,636,264 | 119.280.603.097 | 80.002.789.208 |
Financial costs | 55,279,299,182 | 46,279,299,182 | 37,279,299,182 |
Financial costs (interest during the exploitation period) | 36,000,000,000 | 27,000,000,000 | 18,000,000,000 |
Financial costs (realized interest) | 19,279,299,182 | 19,279,299,182 | 19,279,299,182 |
Earnings before taxes (EBT) | 118.161.337.082 | 73.001.303.915 | 42,723,490,025 |
Income tax | 25,995,494,158 | 16,060,286,861 | 9,399,167,806 |
Profit after tax | 92.165.842.924 | 56,941,017,053 | 33,324,322,220 |
Accumulated profit over the years | (10,062,973,395) | 46,878,043,658 | 80.202.365.878 |
Revenue:
- Project revenue includes revenue from resort and resort services, specifically:
Resort revenue: Selling products in the form of: LONG-TERM LEASE CONTRACT WITH A PERIOD OF 50 years and can be extended when the investor works with the state management agency.
Service revenue: Wedding party, dining and resort services at the restaurant and the beach hut system.
Cost:
- When the project is put into operation, there are many factors that make up the total cost including capital cost, salary cost, depreciation cost, repair cost, compulsory fire insurance fee and interest cost during operation. In which:
Depreciation costs are calculated using the straight-line depreciation method, specifically regulated by Decision 203/2009/QD-BTC dated October 20, 2009 on promulgating the regime for management, use and depreciation of fixed assets of the Ministry of Finance.
Annual maintenance and repair costs are calculated using the depreciation cost ratio.
Operating expenses include salary costs, insurance costs, management costs, marketing costs and other costs.
-Loan options and repayment plans
- Loan purpose: Long-term loan for construction investment
- The total loan amount is 300 billion VND, the project is expected to be built within 24 months, with an expected long-term loan interest rate of 12.0%/year. Thus, the interest expense during the construction period is about 63.6 billion VND . Of which, the loan capital disbursed for investment in the project is 100 billion . Specifically:
Item | Total investment | Value invest | Capital requirements | |
I | Fixed capital | 824.926.690.377 | 454.228.225.815 | 370,698,464,562 |
II | Total investment | 370,698,464,562 | ||
III | Equity | 168,000,000,000 | 168,000,000,000 | |
IV | Capital mobilized from customers | 556.926.690.377 | 286.228.225.815 | 270,698,464,562 |
1 | Mobilizing from customers buying villas and apartments | 498.329.200.783 | 227.630.736.221 | 270,698,464,562 |
1.1 | Invest in the project | 434.700.799.602 | 227.630.736.221 | 207.070.063.381 |
1.2 | Interest payment incurred during construction period | 63.628.401.180 | 63.628.401.180 | |
2 | Debt from construction contractors | 58,597,489,594 | 58,597,489,594 | |
V | Total loan | 300,000,000,000 | 300,000,000,000 | |
1 | Loan for investment in project | 100,000,000,000 | 100,000,000,000 | |
2 | Loan to repay old bond package | 200,000,000,000 | 200,000,000,000 |
Debt repayment schedule – Debt repayment source
- Total loan term is 6 years, with a grace period of 2 years during the construction period (2015 - 2016). Principal and interest after the construction period will start to be paid in 2017, and will be paid within 4 years from 2017 to 2020.
- Source of principal repayment from resort and service business activities, depreciation value of fixed assets of service area and restaurant.
- Annual net profit will be prioritized to repay bank debt.
CONTENT
2017 | 2018 | 2019 | 2020 | 2021 | |
Principal repayment plan and li | 111,000,000,000 | 102,000,000,000 | 93,000,000,000 | 84,000,000,000 | - |
Beginning debt | 300,000,000,000 | 225,000,000,000 | 150,000,000,000 | 75,000,000,000 | - |
Interest accrued during the period | 36,000,000,000 | 27,000,000,000 | 18,000,000,000 | 9,000,000,000 | - |
Interest payment during the period | 36,000,000,000 | 27,000,000,000 | 18,000,000,000 | 9,000,000,000 | - |
Principal repayment during the period | 75,000,000,000 | 75,000,000,000 | 75,000,000,000 | 75,000,000,000 | |
Ending principal balance | 225,000,000,000 | 150,000,000,000 | 75,000,000,000 | - | - |
Source of debt repayment | 100,292,789,319 | 88.620.567.256 | 81.697.608.681 | 78.833.077.834 | 69,261,437,380 |
Internal resources of the project | 93.450.937.455 | 58.226.111.585 | 34,609,416,751 | 12,389,319,975 | 19,483,245,326 |
Depreciation | 1,285,094,531 | 1,285,094,531 | 1,285,094,531 | 1,285,094,531 | 1,285,094,531 |
Profit after tax | 92.165.842.924 | 56,941,017,053 | 33,324,322,220 | 11.104.225.444 | 18.198.150.795 |
Source from project Other projects of the Company | 6,841,851,864 | 30,394,455,671 | 47,088,191,930 | 66,443,757,859 | 49,778,192,054 |
- The project has a payback period of about: 4.8 years
- Internal rate of return IRR: 25.2%.
- Current recovery value NPV: 137 billion.
- In the long term, the project is economically efficient: NPV > 0 and IRR > 12.0%.
Thus, the project is assessed to have high economic efficiency, bringing profits to investors and being suitable for the socialization of the project.
2.4. General assessment of investment project appraisal at Vietnam Joint Stock Commercial Bank for Investment and Development - Thua Thien Hue Branch
2.4.1. Results achieved in investment project appraisal at Vietnam Joint Stock Commercial Bank for Investment and Development - Thua Thien Hue Branch
-About the appraisal process
Over the past time, the Branch has continuously improved the appraisal process to achieve a complete and scientific appraisal process, promoting maximum efficiency in project appraisal work. Specifically, the process has been decentralized synchronously and in detail vertically, unified for the whole system with a clear division of authority and responsibility of individuals as well as participating departments, promoting the initiative and independence in the operations of each department. Achieving good results in the project appraisal process not only brings profit to the Branch but also strengthens the trust of customers in the Branch's credit system. This is extremely meaningful in the context of many commercial banks competing in the area as at present.
-About the content of the assessment
Regarding loan customer appraisal:
Regarding the legal records of customers, the staff collects relatively complete documents including legal status; history of establishment and development of the business; ... from which it is possible to eliminate customers who do not meet the initial conditions of legal requirements.
Staff used many information channels to assess customers. Information can be extracted from credit application files, relevant authorities such as tax authorities, CIC, direct interviews with customers, research through customers' partners, information updates on media, etc.
Not only considering the legal aspect, the staff also has to check the customer's finances. Through financial reports and collected information, the appraisal staff has analyzed the customer's financial capacity by calculating the financial analysis indicators of the business, finding customers with a healthy and stable financial situation to invest capital.
On investment project appraisal:
Firstly , the appraisal process is organized relatively tightly and scientifically: For projects within the authorized level of the Branch Directors, the Branch is proactive in appraising and making lending decisions. For projects exceeding the authorized level of appraisal, the Branch conducts appraisal, establishes an appraisal council and submits it to the Head Office for re-appraisal. Depending on the complexity of the project, the project appraisal is assigned by the leader to many employees to coordinate implementation. The above arrangement ensures specialization, at the same time promotes collective strength, and ensures the objectivity of appraisal results.
Second , the appraisal content provided in the appraisal process is quite complete, specific and has the nature of guiding staff in appraisal work. For project appraisal at the bank, appraisal staff mainly focus on analyzing and evaluating the financial efficiency and debt repayment ability of the project. During the appraisal process, depending on the scale, nature, characteristics of each project, depending on each customer and actual conditions, staff will flexibly use the content.
Third , the issue of risk management for investment projects has been focused on when the Branch has expanded the Risk Management Department to support the Customer Relations Department in risk assessment, thanks to which risk forecasting is carried out very carefully, contributing to limiting risks much more. The effectiveness of project appraisal at the Branch in recent years has been significantly improved, contributing to achieving good results in lending activities in particular and the Branch's business results in general.
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