More than 10,000 billion VND of bonds are canceled, how does Tan Hoang Minh pay customers?
Regarding the State Securities Commission’s cancellation of 9 bond issuances of the group of companies, recently, the Group Tan Hoang Minh There has been an official announcement on this matter.
Specifically, the group said that the bond issuance of the group of companies, including: Viet Star Real Estate Investment Company Limited, Winter Palace Joint Stock Company, Investment Joint Stock Company and Soleil Hotel Services in the past time have been consulted on issuance, valuation and management of secured assets in accordance with the order and provisions of the law, performed by securities companies, banks. reputation in the market.
After receiving information from the State Securities Commission, Tan Hoang Minh Group is actively working with legal consultants and related parties to review all bond issuance documents of 9 rounds. issued as announced by the State Securities Commission.
In the event that one of these issuances must be canceled at the request of a state management agency, the corporation will work with the bond issuer, state management agency and related parties to refund the bond. return the entire amount raised from the Customer in accordance with the law.
It is expected that the process of processing refunds to customers will be carried out by the company for each specific object. For contracts that are due for payment, the customer’s investment amount will be refunded by Tan Hoang Minh as soon as possible.
For contracts that are not yet due for payment, the Group will urgently coordinate with state management agencies, work with the issuer, the asset management bank to process and return the Customer in accordance with the law. strictly follow the instructions and directions of the competent authorities in the spirit of goodwill and in compliance with the provisions of the law.
“This is an extremely regrettable incident, beyond the Group’s wishes, we hope to receive the sympathy of customers. Tan Hoang Minh commits that the bond information advised to the Customer is correct with the information that the company has provided. bond issuers, collateral valuation companies, and secured asset management banks,” said Tan Hoang Minh.
List of corporate bond issuances related to Tan Hoang Minh. Source: Cafef.
Earlier, on the evening of yesterday, April 4, the State Securities Commission announced the cancellation of 9 bond offerings from July 2021 to March this year of Viet Star, Palace of Vietnam companies. In winter, Soleil belongs to Tan Hoang Minh Group. The total value of these offerings is VND 10,030 billion.
The reason is that the above enterprises have disclosed false information and concealed information in private bond issuance activities.
Among these businesses, Viet Star Real Estate Investment Company Limited is the auction winner of a 10,000 m2 land plot in Thu Thiem New Urban Area with a record level of VND 24,500 billion, equivalent to VND 2.45 billion. VND/m2. However, after that, Mr. Do Anh Dung, head of Tan Hoang Minh wrote a letter asking not to develop the project.
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