Bau Thuy “ends her fate” with THD

For the purpose of restructuring the investment portfolio, Mr. Nguyen Duc Thuy (elect Thuy), a major shareholder of Thaiholdings Joint Stock Company (HNX: THD) has registered to sell all 87.4 million THD shares, equivalent to 24 ,97% charter capital of the company. Trading time from 1/6 to 30/6. The execution method can be order matching or agreement.

Bau Thuy registered to sell all 87.4 million THD shares, equivalent to 24.97% of charter capital, earning more than VND 4,600 billion and will no longer be a shareholder of THD.

Temporarily calculated at the current THD market price of 53,000 VND/share, if the transaction is successful, elected Thuy will earn more than 4,600 billion VND. If compared with the market price of THD stock at the beginning of April 2022, which was 173,000 VND/share, equivalent to more than 15,000 billion VND, Thu Thuy’s assets at THD have decreased by more than 10,000 billion VND.

Bau Thuy’s move to withdraw all of her capital at THD made investors quite surprised. Because at the last Annual General Meeting of Shareholders in 2022, shareholders approved the election of Thuy to receive a large amount of THD shares from many other investors.

Specifically, elected Thuy will receive the transfer from Ms. Nguyen Thi Phuong and Ms. Nguyen Thi Vu each of 539,000 THD shares; received the transfer of 2.4 million shares from Mr. Trinh Van Hai; Mr. Nguyen Hoang Hiep transferred 570,000 shares; Mr. Truong Anh Tu 692,400 shares; Ms. Duong Thi Thuy Hang 9.5 million shares and the most Ms. Nguyen Thi Hieu transferred 16.4 million shares. Total expected number of shares after receiving the transfer of elected Thuy reaches 118 million units, equivalent to 33.7% of THD’s charter capital.

THD stock became the commodity with the highest market price on the stock exchange when it reached a market price of 280,000 VND/share in 2021, but then continuously declined and is now only 53,000 VND/share.

Bau Thuy is a founding shareholder of THD and also a major shareholder of this business, but at THD, elected Thuy does not hold any position. THD’s chairman is currently Mr. Nguyen Van Thuyet, the younger brother of Thuy.

Currently, elected Thuy is holding the position of Vice Chairman of the Board of Directors at LienVietPostBank (LPB). In addition to owning the above shares at THD, Bau Thuy also holds 41.57 million LPB shares, worth about 625 billion dong.

Regarding THD’s business results, in 2021, THD will reach VND 8,243 billion in net revenue, 4.5 times higher than in 2020. Profit after tax is VND 1,156 billion, up 17% compared to the previous year. However, on May 17, THD’s Board of Directors announced a resolution approving the plan to adjust the audited financial statement figures for 2021.

Specifically, in compliance with Official Dispatch No. 1428 of the Criminal Investigation Department on Corruption, Economic and Smuggling of the Ministry of Public Security (C03), THD approved the plan Thaigroup (a subsidiary of the group) to complete the investigation. pay the amount transacted with Tan Hoang Minh Hotel Trading Service Co., Ltd in accordance with the provisions of law.

The refund amount is 840 billion VND. However, Thaigroup will receive back shares of Binh Minh Group Joint Stock Company (owner of 11A Cat Linh project) with legal documents and a certificate of land use rights of the project. Therefore, on the financial statement for 2021, THD’s profit after tax will decrease from 1,156 billion VND to 424 billion VND, equivalent to 732 billion VND.

Project 11A Cat Linh has an area of ​​2,505m2 located in Quoc Tu Giam ward, Dong Da district, Hanoi. This used to be the headquarters of the Grocery and Labor Protection Joint Stock Company (Sunprotexim), a state-owned enterprise that was equitized since 2004.

The land of Project 11A Cat Linh has been used for many years as a parking lot.

Due to owning many golden land plots, Sunprotexim was interested by many real estate businesses when SCIC divested capital. Accordingly, Delta Group Construction Company bought a whole lot of shares from SCIC and Ms. Nguyen Thi Kim Dung (Mr. Tran’s wife). Nhat Thanh, Chairman of Delta Group), became the highest leader at Sunprotexim company.

As planned, Sunprotexim will start the project at 11A Cat Linh in the fourth quarter of 2010. To implement the project, the kiosks at No. 30 Doan Thi Diem were modified for the units at No. 11A Cat Linh to switch to; but then this project was not implemented.

In 2017, Binh Minh Group was founded by Mrs. Dung to develop this project, but then the founding shareholders withdrew their capital. The new legal representative and General Director of Binh Minh Group was then Mr. Trinh Van Thiem. He is also the representative of a number of companies such as: Vinakanto Construction Company Limited; Hanoi Ton Dan Joint Stock Company and Kim Lien Tourism Joint Stock Company – a member of ThaiGroup.

Lot “diamond land” 11A Cat Linh has since been handed to ThaiGroup of Bau Thuy, through the acquisition of 80% shares of Binh Minh Group for 40 billion VND. Thus, after 5 years of “acquiring” Binh Minh Group, the transfer of golden land lot 11A Cat Linh to Tan Hoang Minh has contributed to THD’s profit after tax of 1,156 billion VND.

According to DDDN