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A series of violations at the 48ha ‘super project’ of TTC Land and Tin Nghia in Dong Nai

A series of mistakes at the 48ha 'super project' of TTC Land and Tin Nghia in Dong Nai - 1

The project of Tan Van Island Tourist and Service Area (Centria Island) has a total investment of nearly 7,200 billion VND with a scale of 48 hectares, located on Bui Huu Nghia Street (Tan Van Ward, Bien Hoa City, Dong Nai). The project is invested by Tin Nghia – Asia Investment Joint Stock Company, and by Saigon Thuong Tin Real Estate Joint Stock Company (TTC Land) as the developer.

A series of mistakes at the 48ha 'super project' of TTC Land and Tin Nghia in Dong Nai - 2

Centria Island is currently being confirmed by the investor and distributor as the “first-class” project in Dong Nai when located right at the “golden triangle” of Tan Van – National Highway 1A, and at the same time the intersection between 3 Province: Dong Nai – Ho Chi Minh City – Binh Duong. Also for this reason, the price of each product at Centria Island makes many people “fall back” when it reaches 40 billion VND/unit.

A series of mistakes at the 48ha 'super project' of TTC Land and Tin Nghia in Dong Nai - 3

However, according to the reality of PV VTC News on April 3, it seems that advertising information is far beyond reality. Not to mention the series of mistakes at Centria Island that also make many people question: Is the investor being overly favored?

A series of violations at the 48ha 'super project' of TTC Land and Tin Nghia in Dong Nai - 4

Specifically, in the document sent by the Dong Nai Department of Natural Resources and Environment to the Ministry of Natural Resources and Environment recently on the announcement of cases of violations of the Land Law 2013 in the province in the first phase of 2022, the Centria Island project took the first place. “yellow board” violation.

A series of mistakes at the 48ha 'super project' of TTC Land and Tin Nghia in Dong Nai - 5

Accordingly, the inspection process, Dong Nai Department of Natural Resources and Environment concluded: Tin Nghia Asia Investment Joint Stock Company violated the Land Law at the Centria Island project due to the delay in putting the land into use.

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Previously, on September 9, 2020, the People’s Committee of Dong Nai province issued Document No. 2381 approving the extension of the land use period of this project for another 24 months.

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In another development, in 2017, the project once made many people in Tan Van ward “stand still” when witnessing the narrowing of the Dong Nai riverbed every day. At that time, people simultaneously sent petitions to the authorities and the press agencies.

A series of mistakes at the 48ha 'super project' of TTC Land and Tin Nghia in Dong Nai - 8

After receiving the complaint, in February 2017, the Dong Nai province’s interdisciplinary inspection team directly surveyed the scene.

A series of mistakes at the 48ha 'super project' of TTC Land and Tin Nghia in Dong Nai - 9

The conclusion of the inspection pointed out the errors such as: Changing the channel, the construction process has moved the wrong position of 2 buoys at the beginning of the channel; the driving of iron poles, placing gabions… has obstructed and lost traffic safety here.

A series of mistakes at the 48ha 'super project' of TTC Land and Tin Nghia in Dong Nai - 10

At that time, Tin Nghia Asia Investment Joint Stock Company could not provide measurement data, determine the boundary of the project and only said that it had measured and planted landmarks with the land registration office.

In November 2009, the People’s Committee of Dong Nai province approved the policy of allowing Tin Nghia Corporation to cooperate with joint ventures with Asia Commercial Joint Stock Bank (ACB) and investment companies, finance companies, etc. member himself ACB setting up investment procedures for the project of Tan Van Island Tourist and Service Area. From here, Tin Nghia – Asia Investment Joint Stock Company was established, with Mr. Quach Van Duc (representative of Tin Nghia Corporation) as Chairman of the Board of Directors.

As of August 9, 2013, Tin Nghia – A Chau was founded by 3 shareholders, with a charter capital of VND 540 billion. In which, Tin Nghia Company Limited registered to contribute 275.4 billion dong to hold 51% of the shares, ACB registered to contribute 54 billion dong, holds 10% of the shares, the rest A Chau Investment Joint Stock Company registered to contribute 54 billion dong, hold 10% of the shares. signed a contribution of 210.6 billion dong, holding 39% of the shares.

Up to now, Tin Nghia Corporation still owns 51% of shares in Tin Nghia – A Chau. However, in this shareholder structure, the group of shareholders “Asia” has changed.

On March 30, 2022, in response to PV VTC News, a representative of Tin Nghia Corporation said: “Tin Nghia Asia is actually Tin Nghia Corporation and ACB Bank. In the project, each party is 50%. But recently, Asia has already divested capital for TTC Land, so now it is Tin Nghia 50%. shares and TTC Land 50%”.

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