Professional Documents
Culture Documents
Group 1
GROUP 1
Table of Contents
I. COMPANY BACKGROUND 5
1. History 5
2. Remarkable milestones 6
1. Vision 8
2. Mission 8
1. Goals 8
2. Strategies 9
V. COMPANY PERFORMANCE 13
2. Company strategy 15
3. Competitor 16
3. Organizational structure 19
1. Strength 21
1
2. Weaknesses 23
3. Opportunity 23
4. Threat 25
1. Problem 32
2. Cause 34
3. Impact 35
4. Solution 36
X. CHALLANGES 36
2. Bamboo Airway 37
2. Bamboo Airway 39
XII, CONCLUSION 40
2
I. COMPANY BACKGROUND
1. History
Formerly known as Vietnam Trade Corp Joint Stock Company, FLC Group
Joint Stock Company was founded by Trinh Van Quyet and 2 co-founders in
2001. After considering a significant event that would have a big effect on the
company's growth, the top executive agreed to start the Management
Consultancy & Investment Tracking Joint Stock Company (SMic). At this
time, when the organization was faced with the criteria of professionalization
and business policy consulting, the law consulting department was split into
the law office of SMiC. The law office was formally turned into SMIC Co.,
Ltd. in 2006.
As a result, FLC Group Joint Stock Company (FLC) was formally formed as a
result of the merger of the member companies in 2010. FLC is the
abbreviation of Finance, Land and Commerce, which are the main business
fields of the Company. The FLC logo was inspired by the DNA pictures, the
gene sequence and the evolution of the living organisms. After 17 years of
formation and growth, FLC has become one of Vietnam's most strong
business companies with three main business segments:
Approximately concentrate on investment consulting and project
management for associated firms to achieve higher income, as well as on
the study and review of real estate companies.
Resort property (FLC Sam Son Beach & Golf Resort, FLC Sea Tower
Quy Nhon, FLC Quang Binh Eco Resort), leasing office, commercial
property services, real estate brokerage services, real estate advisory
services, etc.
3
Trade and services: manufacture and sale of advanced surgical devices,
trade in sporting facilities, in particular golf courses.
Other major enterprises which have a strategic partnership with the main
business: high-tech agriculture; air transport business; financial investment.
Hanoi is also involved in other operations such as resorts and hotel
facilities, civil construction, medical machinery and equipment trade,
education and labor exports, industrial law and mining and mineral
processing, etc.
2. Remarkable milestones
In the last 20 months of expansion and growth since 2001, FLC has
experienced substantial improvements in its three main segments, including
property investment, finance and commerce. In particular, an increasing
number of significant milestones have been achieved:
2001: Vietnam Trade Corp JSC has been founded and operates in the
commercial and service fields. Subsequently, Supervision Management
Investment Consulting JSC (SMiC) was also founded.
2006: SMiC law office was transferred into SMiC Law firm Co., Ltd.
4
2010: Merged company members into FLC Joint Stock Company.
2010: 170 billion VND. FLC JSC renamed as FLC Group Joint Stock
Company with the charter capital of
2014: in Thanh Hoa with a total investment of 5,500 billion VND. FLC
started Golf Course and FLC Samson Golf Links international resort project
2017: billion Viet Bamboo Airways Co., Ltd was established with the charter
capital of 700 VND. FLC has officially expanded its investment in civil
aviation.
5
The valuation of the FLC Group's project properties is valued at $9 billion by
the UniCap Fund at October 2017 ("FLC Group – Vietnam’s ‘Land Genie’ to
go international - Vietnam News | Politics, Business, Economy, Society, Life,
Sports - VietNam News", 2019). Brand Finance has been listed as one of the
50 most important brands in Vietnam in 2016 (Haigh, 2016).
1. Vision
2. Mission
6
III. GOALS & STRATEGIES
1. Goals
2. Strategies
7
achieved revenue of almost VND 5.093 billion, which increased 21 percent
over the same period last year with special regard to quarter IV/2019. Despite
the expense price rise, sales from financial operations climbed dramatically
to 1.482 billion VND (USD 63,7 million), which resulted in a tax benefit of
almost VND 591 billion (USD 25,4 million), double the same span last year
alone in the last 3 months of the year alone. The FLC Group generated net
sales in 2019 of 16,419 billion VND (US$ 705,6 million), more than 40%
more than in 2018, and 82% of the annual target. The tax return hits VND
679 billion, which is a big increase of approximately 45% and 119% of the
schedule laid out for the general meeting for 2019. The benefit after fiscal
growth amounts to USD 29,2 million (Universal, 2019).
(Based on FLC.vn)
Aside from its main market sector, the FLC Group has also achieved high
business success in other major fields such as the aviation industry.
Following the completion of almost 20,000 flights, Bamboo Airways has
struggled aggressively over the year to produce almost 3 million passengers
with over 94 percent on-time performances, which is the highest in Vietnam
(Universal, 2019). The airline has been running 34 domestic and
international routes since its arrival in January 2019. To date, it has flown
almost 20,000 and has registered almost 3 million passengers (Son, 2020).
Financial operations also help FLC to cover market and operational expense
8
losses in 2019 as a whole. Total Company revenues last year surpassed
VND16.4 billion ($707.6 million). It was over VND340 billion in gross loss
($14.67 million). Financial benefit surpassed VND2.5 billion ($107.9
million) in revenues. Last year (US$33.6 million) FLC posted earnings after
tax of over VND 780 billion, up 16 percent from 2018 (Son, 2020).
1. Core values
a. REAL ESTATE
In early 2010, FLC Group established the property exchange floor and
started company’s business with some services:
9
The property brokerage services may be the type of transaction where a
commercial arrangement may be formed between two or different
individuals. In the general trading floor, real estate investment firms play a
significant role.
For clients such as: property, apartments, villas, hotels, resorts, offices,
factory construction, warehouses, industrial parks, and other services the
FLC Group offers brokering services of different product categories. The
key operations of this floor include the recipient can be acquired from the
parent corporation, funds obtained from associates and businesses or
properties sold to individuals and clients.
Notary public and personal notary and other real estate related services.
This service combines with federal departments to provide the owners
with such resources, such as supplying and moving.
The real trading floor is where daily consumers are asked to purchase, sell,
rent, and analyze their properties. There are a lot of users who use the site
to get information and use customer care services. Communication
services for this area on the website or on the trading platform are also
very successful. Resources used across the trading floor include
consultancy firms that execute state-owned projects, investment
companies, housing design services, office design and a variety of
companies. All of them have equipment, chairs, building materials.
Posters are submitted to the office, mission pictures on the trade floor and
on the internet, 3D movies on the website, banners are film types.
The FLC Group also offers legal counsel and services on investment
ventures and on state management contracts. In addition, credit and
financial advice programs, building licenses and legal papers for clients
are also provided by this exchange floor.
10
b. HOSPITALITY & SERVICES
Starting at Cam Quy Lake, the FLC Group currently operates a number of
luxurious hotels and resorts in Vietnam, which include FLC Quy Nhon, the
FLC Luxury Resort (international standards), the FLC Quy Nhon Playa and
Camp; the FLC Ha Long Bay Golf Club and the Camp and Camp; the Gold
Resort (premium resorts and villas); and the Luxury Resort.
c. FINANCE INVESTMENT
V. COMPANY PERFORMANCE
1. Financial performance
11
FLC Income Statement (by Investing.com)
12
FLC Cash Flow Statement (by Investing.com)
2. Company strategy
13
Developing corporate culture and community responsibility: while
business identity is a corporate culture, serious social responsibility
commitments help cement the image of the brand and bind the
company with the community
14
Top 10 most mentioned real estate projects in Q2 / 2020. Source: Reputa Report
FLC Group (14%) is the second largest brand after Vinhomes. Most of the
talk was about the Condotel - FLC Coastal Hill Quy Nhon project. Ecopark
accounts for 13% and is the third brand to mention. The content of this news
mainly focuses on propaganda about new projects and urban areas of
Ecopark.
1. Board of Managers
15
the Board
(SG Invest
Real Estate
Co., Ltd)
-General
Director (SMiC
Law Firm)
19/08/1978 Doctor of Laws
EXECUTIVE -President
VICE (FLC
CHAIRWOMA Helicopters
Hương Trần Kiều N OF BOARD and Helicopter
Dung OF Service
EXECUTIVES Company)
05/04/1977 MEMBER OF
BOARD OF
EXECUTIVES
FLC GROUP
Lã Quý Hiển JSC
16
In FLC, people live and work together as a family to accomplish a traditional
perfect and a like goal. The basis for progress is a solid establishment. All
have a confident chance to communicate what specifications are. FLC allows
each delegate to show in accordance with the ideal aggregate their own
identities. As any individual's accomplishment contributes to the overall
success of the company, business achievement is for the good of everyone.
By creating a strong, inviting, dynamic and expert workplace where all people
look forward to helping develop the FLC, FLC pursues harmonized
advantages and business interests.
3. Organizational structure
17
Most of the provisions of the FLC Community are governed by the FLC
Group and its members. In specific, nineteen small businesses are to be
partly limited under the FLC Group, FLC Foreign Capital & Trade Co., Ltd
to Yacht and Rosland Joint Stock Company.
(Based on cafef.vn)
Strengths Weakness:
1. FLC has large land bank with projects 1. Raising capital on the stock market
potentials in Sam Son, Binh Dinh and for investment for projects. Real
Hanoi. estate should
2. Good financial potential thanks to not yet generate cash flow and profits
mobilization is a large amount of capital right. Efficient profitability from the
over the years recently from the stock project only come after 1-2 years
market. 2. Pressure of being a pioneer
18
3. High project implementation capacity
makes time to put the project into operation
short, increase business efficiency.
4. Continuous innovation facility
5. Strong brand equity
Opportunity: Threat:
1. The real estate market has recovered 1. The level of competition in the
strong and in an uptrend. market
2. The demand for vacation tourism will real estate, especially products
increase when the standard of living of the resort villas, resorts are
people is increased. increasingly.
2. Large-scale projects should be
possible
Product consumption is a challenge
awake is not small.
( Base on mbs.vn)
1. Strength
a. Smart investment in land
A significant volume of land is owned by the FLC, as the Vietnamese
property market is slowing and evolving into big ventures, by
purchasing "frozen" commercial land. FLC Group's current owner
currently holds a land fund of over 9,000 hectares, has established
over 50 projects covering more than 40 kilometers of coastline
covering 8 provinces across the world. In all, VND 135 thousand
billion of investments (Đình Hiếu, 2019).
FLC provides local people a range of work opportunities and a major
commitment towards society to foster economic and social
development in this area.
19
The FLC's chartered capital has risen considerably in the decade from VND
1800 to VND 7100 billion because of its phenomenal success in eccolic
capital on the stocks.
c. Successful execution of the project
The FLC Group has consistently concentrated in recent years on
ensuring exponential growth rates for project execution. The
programs of each FLC are done as quickly as possible, regardless of
scale and scope. FLC Quy Nhon Beach & Golf Resort are two golf
courses, setting an estimated half year with a new golf course in Asia
(FLC News, 2017). FLC, however, does not stand as a speed-linked
firm. In reality the Organization only operates to ensure its market
efficiency is straightforward and effective, where pace is the strategic
weapon. It helps to lift the competence level of the FLC Community
at low cost, create consumers morale, and boost society well-being.
d. Innovation facility
One of the major strategies for allowing the FLC group to develop its
multisectoral companies is its ongoing innovation facility. In addition
to being founded in three strategic industries (financial investment,
immovable growth and mining), FLC is aggressively engaged in new
fields of industry.
e. Strong brand equity
In the sense of the development of a powerful brand over the past 17
years, FLC Group has reinforced its role in the domestic sector to
steadily enter the overseas market. FLC has been listed among the top
50 in the Vietnamese market, according to Brand Finance (Haigh,
2016).
20
2. Weaknesses
a. Not yet generate cash flow and profits right
Raising capital in the stock market to invest in real estate projects has
not yet created cash flows and profits. Effective profitability from the
project after only 1-2 years. Looking at the market, it can be seen that,
instead of investing in many pieces, listed real estate companies seem
to be focusing on certain types of real estate to avoid spreading
capital and meeting the right needs of the market. In addition, looking
at the 2020 plans of listed real estate companies, it is easy to see a
common point about the trend of implementing large-scale projects,
integrating multi-utility, towards real needs (Hà, 2020).
b. Pressure of being a pioneer
21
2020, considering the rapid adjustment and control of supportive
policies. After a time of social divide, government funding (Vu,
2020).
In October 2020, tourism and the resort property were back on
track in the aftermath of the second Covid-19 Surge, which took
place in some locations such as TP, and have adopted various
promotion policy measures to raise domestic tourism demand. Da
Nang, Quang Nam, Hai Duong, Ho Chi Minh City (Vu, 2020)
After the heavily affected period of COVID-19 in the first two
quarters of the year, FLC had a relatively positive third quarter.
Contributing to this figure is a positive recovery in most core
sectors such as real estate, resort tourism and aviation (Linh, 2020).
b. The demand for vacation tourism will increase when the standard of
living of the people is increased.
The middle class in Vietnam is expected to reach 30 million people by 2020.
As the population gets richer, they want to experience vacation tourism
services that they have not previously been able to "reward themselves.
myself "will also have breakthrough changes. Nielsen's research shows that
three-quarters of Vietnamese people are comfortable spending and are
willing to spend money on 5-star resort services to relieve stressful lives and
take care of their own health ("Người Việt tăng chi cho du lịch nghỉ dưỡng |
VAKALAND", 2020).
22
( Based on Nielsen)
4. Threats
a. Competition
The FLC responds to high competition from other firms with a view to
dominating the domestic real estate industry. Vin Group is the highest
competent firm. Competition in these firms arose from value for money to
architectural design of buildings and structures, which disrupted the FLC
Group's expansion.
b. Risks of large-scale projects
Immobilien is a high risk business, but the incentive is still very tempting.
Nothing can ensure customers' maximum usage in terms of the high
profitability, especially in the large-scale enterprise of FLC and the
company will result in a loss of billions.
23
Within the past 3 years, there have been exceptionally few ventures recently
authorized, particularly low-cost housing ventures and social houses. In
addition, the Covid-19 epidemic added further difficulties to the market. But
the truth appears that the current troublesome period is also an opportunity to
screen and reposition businesses within the real estate industry clearly.
(Ngan, 2020)
COVID-19 has had a negative impact on the real estate industry, with the
first half of 2020 housing transactions falling to their lowest level in four
years. Many investors and economic experts consider this as a necessary gap
to look back and meet the higher level of development of the country.
(Nguyen, 2020)
The Ministry of Construction said that by the end of May 2020, the whole
country had only about 200 real estate transaction floors operating in
moderation, with more than 800 trading floors suspended or closed. These
numbers show the real estate market of our country before the Covid 19
transaction, hundreds of exchanges have sprung up like mushrooms after the
rain, doing business in the "surfing" style to make temporary profits;
Currently, a number of large real estate businesses also reduce their output
by 30% - 70%, forcing to lay off workers, increasing the number of
unemployed people, creating a burden on society. (Nguyen, 2020)
Within the long term, Vietnam's real estate market is on the rise with the
request of 100 million individuals pointing to have a tall middle-income
salary by 2030, of which approximately 15% are middle-class. Therefore,
24
the demand for housing is rapidly increasing, new urban areas and industrial
zones with technical and social infrastructure are being built. (Nguyen,
2020)
The influence of the Covid epidemic has changed the movement trajectory
of the real estate market in 2020. Here are 6 outstanding movement trends of
the real estate market in 2020.
(Source: Vietnam Report, Survey of Vietnam real estate enterprises 2020, February
2020)
25
b. Foundation soil is the first choice of customers
Survey results of Vietnam Report show that, for customer groups, land plots
are chosen the most with 62.77%; followed by apartments for rent (34.89%),
apartments (28.09%), retail: Shophouse, shopping mall ... (10%), industrial
real estate (12.13%). (Nam, 2020)
As clean land funds in big cities like Hanoi and Ho Chi Minh City are
increasingly scarce, real estate businesses will continue to move to other
provinces with advantages in developing economic, mineral, industrial, and
industrial sectors. especially tourism development. In addition, many
investors tend to choose local provinces to make new towns because of
favorable land bidding procedures and a shorter investment cycle than
projects in Hanoi and HCMC. (Nam, 2020)
Some real estate businesses have changed their business plans, deployed
sales apps, used newsletters with video, 3D scanning; or the livestream
brokerage to introduce products to customers to support buyers. By applying
technology, customers can know information about the project, visit an
apartment through virtual reality with just a smartphone, and at the same
time help customers save time, create flexibility. mobility for customers and
limit movement and contact with many people during the epidemic season.
26
This is the driving factor for online transactions in the real estate sector.
(Nam, 2020)
Besides, when the environmental pollution is high and the epidemic breaks
out, people pay more attention to ensuring their health. One of the responses
of real estate businesses to the Covid-19 translation is to restructure
products, through green projects, to bring peace of mind to residents' health
in order to stimulate the demand for healthy living. quality of home buyers
today. (Nam, 2020)
After the Covid epidemic has gradually been controlled, real estate is
appearing signs of recovery and growth once more. Analysts said that real
estate is still one of the relatively safe channels to store assets in the event of
an economic crisis, especially in the affordable housing segment, meeting
real need, continues to play the leading role and sustainable development,
the reality has been demonstrated through the freezing crises of the real
estate market in 2008 and 2011. (Vu, 2020)
27
2. HOW THE COMPANY OPERATES AND MANAGES IN THE
INDUSTRY
FLC Group's full name is FLC Group Joint Stock Company (FLC stands for
Finance, Land and Commerce - finance, real estate and commerce). This is a
company in Vietnam mainly trading in real estate, formerly known as
Truong Phu Fortune Investment Company Limited, on October 25, 2011,
FLC Group Joint Stock Company was born. This event marks a new stage in
the company's growth.
Real estate is the key business line of FLC. From its initial activities of
corporate finance and investment consulting, in 2010 FLC Group has had a
resounding reputation in the market with sensitive and discernible
investment strategies.
The Group's real estate products span all segments. These include resort real
estate, houses, offices and industrial zones. However, FLC Group is best
known for its resort real estate product line. These properties are built
according to international standards. Resort real estate system includes hotel
area, commercial townhouse, resort, villa, golf course.
1. REAL ESTATE
2. AIR TRANSPORT
28
5. HIGH-TECH AGRICULTURE
6. PHARMACY
7. EDUCATION
9. PURE WATER
29
14. Alaska Real Estate Investment Corporation
FLC Group has launched projects in many provinces, but some of them are
behind schedule. These projects have been planned for a long time but have
not been implemented in practice yet. Moreover, a number of projects have
been delayed in completion and in deviation from customers' contracts. Each
project has its own problems, going into detail, the above projects are as
follows:
-
30
31
FLC Group has been proposing to invest in the province 8 projects, of which 3
are tourism projects. However, after 3 years, most of the projects have not been
implemented yet. Based on the approved plan, FLC proposes to implement 3
eco-tourism projects in Trung Giang commune, Gio Linh district, including:
Gio Linh 1 eco-tourism project, Gio Linh 2 and Gio Linh 3 with total area
35.57ha, total investment capital of 1,303 billion VND. Chairman of the
Provincial People's Committee Vo Van Hung said the province has directed
local departments and agencies and mobilized people to create the most
favorable conditions for investors to implement the project. And Mr. Hung
emphasized that if FLC group is determined to implement the project as
committed on the progress, it is urgent to complete the remaining procedures to
start the implementation of the projects (Le Chi, 2020).
Regarding projects in Quang Tri, the research shows that the implementation
of small projects is difficult to ensure uniformity, affecting the advantages of
the project. Site clearance work still faces many problems and a number of
other causes. FLC Group Chairman Trinh Van Quyet stated that the Group's
opinion is the determination to implement successful projects on a large
scale if receiving the cooperation agreement of Quang Tri province (Thanh
Truc, 2020).
32
3. Impact:
These issues can negatively affect the image of the FLC. As can be seen
from figure 1, FLC Group ranks 3rd in the top 10 prestigious real estate
companies in 2019. However, FLC's prestige is severely reduced when it is
out of the top 10 prestigious companies. in the year 2020 (figure 2). This
means that customers' confidence in FLC Group is decreasing. A decline in
reputation can lead to a decline in FLC's profit and reputation.
33
Figrue 1. Top 10 Prestigious Real Estate Investors in
2020 (by Vietnam Report)
4. Solution:
X, CHALLENGES
a. REAL ESTATE
In the residential real estate sector, FLC is inferior to the names Vingroups,
Novaland or Khang Dien House,… FLC's outstanding residential real estate
project is FLC Complex Pham Hung; FLC Landmark Tower and a number
34
of ongoing projects such as FLC Star Tower; FLC Complex Thanh Hoa,…
These projects are only in the mid-range compared to projects that real estate
giants on the market are implementing (Quang Thang, 2020).
FLC's apartment and workplace projects are essentially found in the most
densely populated areas, mainly attracting many potential high-income
clients. Focusing on high-paying customers, FLC is competing fiercely with
competitors such as Vin Group, Hoa Phat, Bitexco Group, Ciputra Ha Noi,
CENLAND and Sun Group. While competitors are expanding their products
and services to promote the mid-end segment, FLC should have the right
plan to support and grow in the market.
2020 was not a bright year since FLC Group's tourism, aviation, resort and
real estate businesses are all severely affected by the COVID-19 epidemic.
FLC Group has to cope with a new challenge: Pay their huge debts for the
brand new airline company which is known as Bamboo Airways. COVID-19
has forced the airline to reduce the number of its flights, leading to a loss of
more than VND1.5 trillion ($65.2 million) in this year’s first quarter.
Similarly, many lenders claimed that this company has delayed many
payables. Bamboo Airways admitted it has encountered heavy financial
losses after over one year in the local aviation market. The local carrier is
still slow at making payments despite being reminded to pay its debts
multiple times. Many creditors including Airports Corporation of Vietnam
(ACV), Vietnam Air Traffic Management Corporation (VATM), Saigon
Ground Services Company and Hanoi Ground Service JSC from February to
early April had sent dozens of notices urging the airline to pay its debts
promptly, reported Dan Tri news site. The creditors also reported the late
payment issue to the Ministry of Transport. Since June last year, Bamboo
has regularly been late in paying flight-related service fees that it collected
35
on behalf of VATM. The debt that Bamboo Airways currently owes to
VATM is 38.6 billion VND, though VATM had asked the company to pay
the debt by the end of March, noted a VATM representative. Similarly, ACV
has sent 24 notices since May last year to urge the aviation subsidiary of
FLC Group to pay a total debt of over 205 billion VND, with overdue debt
reaching some 178 billion VND, but Bamboo Airways has been sluggish
with payments. Of the overdue debt, fees for security screening and services
supplied by ACV to passengers exceeded VND107 billion. The remaining
VND71 billion was the cost of ground and airport services provided to the
carrier by ACV, according to an ACV official. Following the Transport
Ministry’s order, the Civil Aviation Authority of Vietnam recently asked
Bamboo Airways to quickly report its debts, its payment plan for aviation
service providers and its financial situation. A Transport Ministry
representative on May 6 told the paper that Bamboo Airways had neither
paid the debt nor sent any reports.
a. REAL ESTATE
36
Moreover, when the land fund in big cities is decreasing significantly, FLC
can focus on exploiting suburban areas, small provinces where there are
many vacant land funds. According to forecasts in the coming years, the
urbanization rate will spread across the provinces and cities nationwide,
along with a strong increase of the middle class with about 50% of the
population living in urban areas. by 2020, so it opens up opportunities for
real estate businesses. FLC Group has a lot of real estate, mainly located in
the northern half, so it can focus on developing more in the south. Especially
the Southwest is always - where it has the highest average PCI score among
6 regions in the country continuously from 2014 to present. With great
potential and abundant development space, the South West is expected to
become the focus of the real estate market in the near future.
b. BAMBOO AIRWAYS:
FLC has a fast capital growth rate, with real estate investment projects in
resorts in many provinces of Vietnam. However, a corporation with a bad
reputation is not considered as a strong player in the game. Therefore, the
company should improve on their responsibilities of paying debts earlier by
boosting the company business operations, reducing operation cost and
promoting selling more products with an appropriate pricing strategy which
increases the revenue stream.3
In the case of Bamboo Airway, there are several problems surrounding the
Covid-19 pandemic which continues to happen. Here are our
recommendations on this challenge:
1. The company should make a reserve fund for fluctuations and situations that
can not be predicted in the future.
37
3. Third, the company should propose to the government on tax exemptions.
4. Fourth, the company should deal with creditors for debts rescheduling
because this time is quite hard and difficult for businesses to pay their debts
on time.
XII, CONCLUSION
38
XII, Reference Lists:
Báo cáo từ Reputa về ngành Bất động sản Việt Nam dựa trên Social
Listening, Quý 2 năm 2020. (2020, August 27). Retrieved December 02,
2020, from https://blog.tomorrowmarketers.org/bao-cao-nganh-bat-dong-
san-viet-nam-quy-2-nam-2020/
Biz Hub. (2019). FLC Group to build 24 projects in Quang Ninh. Retrieved
13 December 2020, from http://bizhub.vn/property/flc-group-to-build-24-
projects-in-quang-ninh_303494.html
Công bố Top 10 Công ty uy tín ngành Bất động sản năm 2019. (2019).
Retrieved December 02, 2020, from https://toptenvietnam.vn/Cong-bo-Top-
10-Cong-ty-uy-tin-nganh-Bat-dong-san-nam-2019-8355-1006.html
Công bố Top 10 Công ty uy tín ngành Bất động sản năm 2020. (2020).
Retrieved December 02, 2020, from https://vietnamreport.net.vn/Cong-bo-
Top-10-Cong-ty-uy-tin-nganh-Bat-dong-san-nam-2020-9146-1006.html
Dương, Á. (2019). FLC Tropical City Ha Long tràn ngập sắc xanh sau sự
kiện Go Green 2019. Retrieved 13 December 2020, from https://cafef.vn/flc-
tropical-city-ha-long-tran-ngap-sac-xanh-sau-su-kien-go-green-2019-
20190403142233664.chn
Đình Hiếu, T. (2019). FLC Group - Tất Tần Tật Thông Tin - Top 3 dự án
2020| SALEREAL. Retrieved 13 December 2020, from
https://salereal.com.vn/flc-group/
FLC : Công ty cổ phần Tập đoàn FLC: Công ty con - Công ty liên kết.
(2020). Retrieved December 02, 2020, from
39
http://s.cafef.vn/hose/FLC/cong-ty-con.chnhttp://s.cafef.vn/hose/FLC/cong-
ty-con.chn
Hà, H. (2020). Tập đoàn FLC: Hành trình “đánh thức” những tiềm năng.
Retrieved 13 December 2020, from
https://nhipsongdoanhnghiep.cuocsongantoan.vn/dia-oc/tap-doan-flc-hanh-
trinh-danh-thuc-nhung-tiem-nang-3546949.html
Hồng, T. (2019). Tập đoàn FLC đoạt cúp vàng tại International Business
Awards 2019. Retrieved 13 December 2020, from
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