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Tan Hoang Minh has paid more than VND 666 billion to the State Treasury

Tan Hoang Minh Hotel Service Trading Co., Ltd (Tan Hoang Minh) announced that it has paid into the State Treasury account a total amount of 666.1 billion VND.

Tan Hoang Minh has just issued a written notice to customers, updating the handling of issues related to the case occurring at the Group, including the issue of bond repayment to investors.

The document signed by Deputy General Director Do Hoang Minh said that so far, Tan Hoang Minh has recovered 370 billion VND and paid it to C03’s custody account opened at the State Treasury. Along with the amount of VND 296.1 billion previously paid, up to now, the total amount of Tan Hoang Minh has paid is VND 666.1 billion (excluding the amount C03 has been directly recovered).

Tan Hoang Minh also said that it is continuing to strengthen the recovery of bond-related funds. “According to our expectations, the total recovery of the total outstanding loans of the 9 canceled bond issuances (including previous recoveries) is expected to reach 15-20% by the end of June. and by the end of July, it is expected to reach 50-60%”, the document stated.

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“Meanwhile, our project transfer transactions related to 9 canceled bond offerings, which are being investigated in a criminal case, will have to be reported and approved by C03. will face more difficulties and take longer than usual,” said leader Tan Hoang Minh.

At a previous meeting, the representative of Tan Hoang Minh confirmed that the amount was not larger than 8,500 billion VND. The number of VND 10,000 billion recorded in the media is incorrect.

Regarding the payment to investors, Mr. Minh said, Tan Hoang Minh sent an official letter to C03 to propose a payment plan for investors in the following direction: When the money is transferred to C03’s custodial account opened. If at the State Treasury reaches 10% or more of the total outstanding balance of 9 bond issuances, Tan Hoang Minh will coordinate with C03 to start paying investors with the same proportion. If approved, the enterprise will provide specific information to investors.

Regarding the project transfer, the leader of Tan Hoang Minh said that this group is still making efforts to find and negotiate with potential partners and financial resources to transfer the project. According to Mr. Minh, the transfer of a real estate project goes through a process from finding a partner, assessing capacity, negotiating, to signing and executing a successful transaction that requires a lot of time.

Previously, Tan Hoang Minh said that he had sent all the list of customers, the amount of investment … to the investigation agency. Investors will receive money from C03, not from Tan Hoang Minh. However, at a meeting with the State Securities Commission on May 23, bond investors Tan Hoang Minh disagreed with the instructions to contact C03 to get their money back.

Gia Hung

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