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The amount to be returned to investors is not more than 8,500 billion VND

Mr. Vu Dinh Luyen – Deputy General Director of Tan Hoang Minh Group, representatives of Tan Hoang Minh Group and investors recently had a meeting and exchange in Hanoi regarding the refund of bond lots. Canceled.

When asked if the Group’s temporary account at C03 at the State Treasury has more than 510 billion, Mr. Vu Dinh Luyen said that the account has a total of 296.1 billion dong, in addition to the amount C03 directly recovered. . However, he admitted that he could not give an exact figure on how much money C03 collected.

The investor representative asked: “What is the exact number of investors and the number of contracts?” Mr. Luyen replied that the investigation agency had a complete list of bond investors and relevant data. However, Mr. Luyen affirmed that the amount was not larger than 8,500 billion VND, not 10,000 billion VND as reflected.

Regarding the payment of money to investors in June 2022 as desired, the leader of Tan Hoang Minh said he wanted to refund investors. “However, the issue of refunding money remains within the competence of C03 leaders and relevant agencies,” he said.

The Tan Hoang Minh side refused to give an answer regarding whether the proceeds from the bonds were used for the right purposes, but said that the State unit would determine which issues were right and wrong.

  Tan Hoang Minh: Money to be returned to investors is not more than 8,500 billion - Photo 1.

In addition to 3 projects in Phu Quoc and Ho Chi Minh City as previously announced, Tan Hoang Minh said there are 2 more legally qualified projects that can be sold.

Regarding the cash flow to return investors, Tan Hoang Minh said that there will be revenue from the liquidation of projects. Specifically, after working with C03, Tan Hoang Minh has determined that there are 5 legally qualified projects that can be sold, in order to arrange a source of money to pay investors, including 2 projects in Phu Quoc, Projects in Hanoi are Viet Tien and Ngoc Hoi, and Nguyen Thi Minh Khai project in Ho Chi Minh City. Tan Hoang Minh also said that the transferability of projects is high, such as the Phu Quoc project. The group’s policy is to sell the project quickly at a reasonable price to have money to pay for bond investors.

Investors also questioned whether it was possible to buy back the apartments in Tan Hoang Minh’s current project instead of paying with cash. The representative of the group said that the apartments in the project are still related to other legal procedures, so Tan Hoang Minh prioritizes the option to refund 100% of the money to the investor. “We found this option to be the most feasible,” said a representative of Tan Hoang Minh.

The investor also asked this group to work together to propose the Ministry of Finance to set up “Tan Hoang Minh Asset Liquidation Board to liquidate 9 attached bond lots”. Tan Hoang Minh’s side noted but also said: “For unprecedented cases like Tan Hoang Minh’s and the composition of the Asset Liquidation Committee, which includes many subjects in the opinion of investors, the application for approval can be time-consuming, which in turn will take longer to resolve the case.”

On May 16, Tan Hoang Minh said he had paid an additional 100 billion dong to the investigation agency’s custody account opened at the State Treasury. Accordingly, the enterprise said that it had sent all customer lists, investment amounts, etc. to the investigation agency. Investors will receive money from C03, not from Tan Hoang Minh.

In total, up to now, this group has paid into the account an amount of 296.1 billion VND, in addition to the amount that C03 directly recovered.

On May 25, Tan Hoang Minh also said that he is proposing C03 to allow early payment to investors in proportion to the percentage of the recovered amount. “For the sale of assets as a group project, we are still working hard to find and negotiate partners. Realized transactions related to canceled bond packages will be reported and approved. With the approval of C03, the proceeds will be guaranteed according to the plan of returning money to bond investors,” said Tan Hoang Minh’s representative.

On May 17, at the request of C03, Thaigroup had to return all the money that individuals related to Tan Hoang Minh Group transferred from the money from selling bonds to buying shares in Binh Minh Joint Stock Company. Group (owner of project 11A Cat Linh). Accordingly, Thaigroup will return 840 billion VND received from Tan Hoang Minh Group. Thaiholdings has not yet transferred this amount, Tan Hoang Minh will notify customers as soon as the partner transfers the money.


Tran Thu Thao

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