What did Tan Hoang Minh say when he canceled 9 issuances of bonds with more than VND 10,000 billion?

On April 5, the Group Tan Hoang Minh officially announced two tentative plans on the process of refund processing to customers after State Securities Committee announced the cancellation of 9 bond issuances of a group of companies under Tan Hoang Minh Group.

Tan Hoang Minh Group affirmed, in case one of these issuances has to be canceled at the request of the state management agency, the Group will work with the bond issuer, the state management agency. and related parties to refund the entire amount raised from customers in accordance with the law.

Currently, Tan Hoang Minh offers two tentative options on the process of refunding customers. Specifically, for contracts that are due for payment, the customer’s investment amount will be refunded as soon as possible.

As for contracts that have not yet been due for payment, Tan Hoang Minh Group affirmed that it will urgently coordinate with state management agencies, work with issuers, asset management banks to handle and return the customer in accordance with the instructions and directions of the competent authorities in the spirit of goodwill and in compliance with the provisions of the law.

A real estate project of Tan Hoang Minh on Nguyen Van Huyen Street, Hanoi. Photo: PLO.

According to Tan Hoang Minh Group, the bond issuances of the group include: Viet Star Real Estate Investment Company Limited, Winter Palace Joint Stock Company, Investment and Customer Service Joint Stock Company. In the past time, Soleil hotels have been consulted on issuance, valuation and asset management consulting in accordance with the order and regulations of the law, implemented by reputable securities companies and banks in the market. school.

After receiving information from the State Securities Commission, Tan Hoang Minh Group said that the company is actively working with legal consultants and related parties to review all issuance documents. bonds of 9 issuances as announced by the State Securities Commission; At the same time, he affirmed that this is an unfortunate incident, beyond the wishes of the Group.

On the company’s website, Tan Hoang Minh Group commits that the bond information advised to customers is consistent with the information provided by the bond issuer, the collateral valuation company, the management bank. secured assets provided.

On April 4, the State Securities Commission informed about the cancellation of 9 bond offerings from July 2021 to March 2022 of companies under Tan Hoang Minh Group.

Specifically, Viet Star Real Estate Investment Co., Ltd (Vietnam Star Company), Winter Palace Joint Stock Company, Soleil Hotel Service and Investment Joint Stock Company (Soleil Company) belong to the Company. Tan Hoang Minh Hotel Service Trading Co., Ltd is a non-public company.

During the period from July 2021 to March 2022, these businesses have conducted 9 separate bond offerings with a total value of VND 10,030 billion according to the provisions of Decree No. 153/2020/ND-CP On December 31, 2020, the Government’s regulations on the offering and trading of individual corporate bonds in the domestic market, the offering for sale of corporate bonds in the international market, and the publication of information on the website. about corporate bonds of the Hanoi Stock Exchange (HNX) for these offerings.

However, based on dossiers, documents and requests of competent authorities, these bond issuances have acts of disclosing untruthful information, concealing information in private bond issuance activities. odd.

Therefore, the bond registration and depository organizations are responsible for stopping the transfer of bond ownership of these companies in the nine mentioned bond offerings.

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