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Hung Thinh Corporation joins hands to support partners in the Covid-19 epidemic period

23-03-2020

Hung Thinh Corporation has just launched the Program on reducing the rental price of shopping center space at projects invested by the Corporation and its member units. This is a small but practical action of Hung Thinh Corporation so that the partners can stabilize their business activities in the difficult period due to the impact of Covid-19 epidemic.

The restriction of people on traveling to crowded places to prevent the spread of epidemic has made the busy, crowded shopping and dining areas extremely unhappy at present time. Preliminary statistics in Ho Chi Minh City showed that compared to the time before the outbreak of Covid-19, the number of visitors to shopping centers and supermarkets decreased by 40-50%. The number of visitors to the food and drink shops daily usually reduced by 20-30%, and by the weekends up to 50%. Revenues at convenience stores and shopping malls were down by 40%. The number of customers dropped seriously so the revenue also dropped sharply. Many enterprises had to call for help and proposed competent state agencies to apply measures to freeze debts, extend debts, delay tax payment, reduce loan interests, turn around interest rates, etc., to cope with this difficult period.

The Covid-19 epidemic has obviously had a significant impact on all production and business activities of most domestic and foreign enterprises, including Hung Thinh Corporation. However, with the motto "for a flourishing community", with understanding and accompanying with partners, Hung Thinh Corporation has decided to implement the program of reducing rental prices of shopping centers in apartment blocks invested by the Corporation and its member units. Applicable time: From February - April 2020, including:

-    Moonlight Plaza shopping center (Moonlight Residences project): 102 Dang Van Bi St., Binh Tho Ward, Thu Duc District, Ho Chi Minh City
-    Saigon Mia shopping center: Road 9A, Residential clusters III, IV - Trung Son residential area, Binh Hung Ward, Binh Chanh District, Ho Chi Minh City
-    Vung Tau Melody shopping center: 149 Vo Thi Sau, Thang Tam Ward, Vung Tau City.

Official Letter in supporting the rental price reduction for Hung Thinh Corporation’s partners

Mr. Nguyen Dinh Trung - President of Hung Thinh Corporation shared: “Facing unpredictable disease situation, we cannot leave the enterprises for the sake of ensuring revenue. Therefore, Hung Thinh is willing to accept the reduction of revenue from support to help partners in this epidemic period. I think this is a small task, but I hope we understand it. It is time for the rental price to be reduced, we have to take a step back to move forward faster. If everyone makes a profit for themselves based on other people's difficulties, the society will suffer more damage.”

Mr. Pham Thai Binh - General Director of Hung Thinh Retail Joint Stock Company - a member unit of Hung Thinh Corporation also added: “We will implement the policy on incentive and support of rental price for partners of the Corporation and will review each case to determine the best reduction in the range of 20-40%, even greater reduction. And the time for support will be flexible depending on the evolution of Covid-19”.

Hung Thinh Group hopes that many enterprises will join hands with practical actions to support and overcome difficulties in this period.

Some pictures at the shopping center of Hung Thinh Corporation:

Picture of SaigonMia shopping center at Trung Son Residential Area, HCMC

People shop at SaigonMia Shopping center

People shop at SaigonMia Shopping center (continued)

Pictures of shopping centers at Moonlight Residences Project, Thu Duc District, Ho Chi Minh City

Pictures of shopping centers at Moonlight Residences Project, Thu Duc District, Ho Chi Minh City (continued)

Pictures of shopping centers at Vung Tau Melody project

Pictures of shopping centers at Vung Tau Melody project (continued)

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Hung Thinh Corporation joins hands to support partners in the Covid-19 epidemic period

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Hung Thinh Corporation joins hands to support partners in the Covid-19 epidemic period

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