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Having canceled 9 bond offerings because of “disclosure of false information”, where did Tan Hoang Minh raise more than 10,000 billion VND to pour it?

In the last months of 2021 and early 2022, Tan Hoang Minh is an emerging name with large value mobilization of corporate bonds. In 2021 alone, Tan Hoang Minh has mobilized 4,900 billion VND bonds through 3 member companies.

Where did the amount of more than 10,000 billion VND issued by Tan Hoang Minh group go to?  - Photo 1.

Specifically, Viet Star Real Estate Investment Co., Ltd. has been issued twice in 2021 in July with the scale of 800 billion dong (term of 48 months, fixed interest rate 12%/year for the first payment period and then floating) to invest in Investment Project to build public works, commercial services and houses in Urban Area Viet Hung new town, Long Bien district, Hanoi.

Until September 2021, this company continues to release 1,900 billion VND 60-month bond. The money raised will be used to invest in the project of a complex of public services, offices and apartments in the south of Dai Co Viet street, Hai Ba Trung district, Hanoi.

Another member of Tan Hoang Minh is Soleil Hotel Services & Investment Joint Stock Company, which issued 3 bonds with the value of 800 billion VND (in July 2021), 450 billion VND (in August 2021). 2021 and VND 500 billion (early November 2021) to implement the project of Hoang Hai complex tourist area, Duong Bao hamlet, Duong To commune, Phu Quoc district, Kien Giang province.

Total value of bond mobilization in 2021 from this unit is up to 1,750 billion VND with interest rates ranging from 11.5-11.75%/year.

Winter Palace Joint Stock Company, a member of Tan Hoang Minh, also has 2 issuances in the second half of 2021 with a total value of 450 billion VND3-year term, 11.5% interest rate to invest in Hoang Hai Phu Quoc project.

In early 2022, Winter Palace JSC continued to successfully issue a lot of bonds worth 3,230 billion VND.

According to information from the Hanoi Stock Exchange (HNX), this bond lot was issued on December 16, 2021, with a term of 48 months, with maturity on December 16, 2025. Information related to interest rates, bondholders, and issuing advisory organizations are not publicly available.

A bond lot of VND3,230 billion was issued by the Winter Palace in just 6 days when Viet Star Real Estate Investment Company Limited – another member of Tan Hoang Minh Group won the auction of the land plot 3-12 at the Winter Palace. Thu Thiem new urban area (HCMC) with an amount of up to 24,500 billion VND (December 10, 2021).

Where did the amount of more than 10,000 billion VND issued by Tan Hoang Minh group go to?  - Photo 2.

Winter Palace Company is the investor of project D’. El Dorado I is located on Nguyen Hoang Ton street (Tay Ho district) – Photo: Kinhtemoitruong

Thus, only from July 2021 until now, Tan Hoang Minh group has successfully issued more than 8,000 billion dong of bonds. Mobilizing such a large amount of money, but because it is not a listed company, information about the financial situation of Tan Hoang Minh group is extremely meager.

In an announcement sent to the Hanoi Stock Exchange of Vietnam Star Real Estate Investment Co., Ltd in 2020, there are only a few basic lines of information.

Where did the amount of more than 10,000 billion VND issued by Tan Hoang Minh group go to?  - Photo 3.

Hoang Hai tourist area project invested by Soleil with Hoang Hai Phu Quoc Housing Development Investment Joint Stock Company in zone 5, Bai Truong complex, Duong To commune, Phu Quoc district, Kien Giang.

It is known that the Chairman and CEO of Hoang Hai Phu Quoc Housing Development Investment Joint Stock Company is Mr. Do Hoang Viet, the second son of Mr. Do Anh Dung.

Hoang Hai resort project (trade name is Hoang Hai Complex) has a scale of nearly 12.4 hectares, started construction in 2018. Inside the overall Hoang Hai Complex resort area includes resort apartments. , commercial townhouses, amusement parks, commercial centers, hotels, office complexes and event centers.

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