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NBB - BUY - Japanese partner breathes new life into land rich, cash poor property developer - Initiation

For the last three years due to lack of financing, NBB sat idly on one of the largest and most valuable swaths of land in HCMC, having fallen victim to the real estate bubble burst and self-inflicted wounds of overleveraging and overextension (non-core businesses). Fortunately, NBB has found a saviour in Creed Group, a Japanese investor specializing in distressed assets, who will inject cash to restart dormant “shovel-ready” projects and help NBB reverse fortunes.