Ms. Nguyen Phuong Hang and Mr. Huynh Uy Dung mortgaged assets mobilized 180 billion: True story or joke?

Dai Nam Joint Stock Company of Mr. Huynh Uy Dung, ie Dung "Lo Voi", has just announced the issuance of private bonds to raise VND 180 billion to develop business activities.

Dai Nam Joint Stock Company is chaired by Mr. Huynh Uy Dung (also known as "Dung Lo lime") as Chairman; Mr. Dung's wife - Mrs. Nguyen Phuong Hang is currently the General Director.

According to the announcement of Dai Nam Joint Stock Company, the enterprise has successfully issued 180 billion dong of corporate bonds. This is a non-convertible bond, without warrants, with collateral. The interest rate applied for the first interest rate adjustment period is at a fixed rate of 10%/year (the maximum interest payment term is every 6 months).

The interest rate applied for the next interest period is equal to the sum of 3.5%/year plus the reference interest rate of that interest rate adjustment period but not less than 10%/year.

Dai Nam Joint Stock Company said that the purpose of this bond issuance is to invest in the construction of Factory for lease No. 2 in Song Than 3 Industrial Park, Phu Tan Ward, Thu Dau Mot City, province. Binh Duong. According to the company's announcement, Dai Nam will use the rental revenue of this factory to ensure the source of principal and interest payments when the bonds mature at the end of 2026.

Meanwhile, the bond is secured by a certificate of land use rights and assets attached to land located at Dai Nam Residential Area, Phu Tan Ward, Thu Dau Mot City, Binh Duong Province.

Information from Dai Nam Joint Stock Company also said that the reference interest rate is the personal savings deposit interest rate in Vietnam dong, paying the highest interest rate at the end of the period, with a term of 12 months announced by Orient Commercial Joint Stock Bank on December 1. interest rate determination date of the corresponding interest rate adjustment period.

The entire lot of corporate bonds of the giant "Dung Lo Lime" and CEO Nguyen Phuong Hang was purchased by a domestic credit institution. In which, Vietnam International Securities Joint Stock Company (VIS) acts as an issuing agency and consulting organization. Orient Commercial Joint Stock Bank is a secured asset management organization.

Dai Nam Joint Stock Company, formerly known as Thanh Le Industrial Park Development Joint Stock Company, was established in 1996, besides Becamex IDC, Dai Nam is one of the leading companies in real estate and industry in Vietnam. Binh Duong in particular and the Southeast in general.

Real estate projects invested by the giant "Dung Lo Lime" and CEO Nguyen Phuong Hang in recent years can be mentioned as: Di An administrative center urban area, Song housing area. Than 2, Song Than commercial service town, Dai Nam - Binh Phuoc residential area, Tan An 2 residential area, Dai Nam - Thu Dau Mot residential area,...

In addition, Dai Nam is also known as the investor of Dai Nam tourist area with an area of about 450 hectares with a construction cost of up to VND 6,000 billion.

Notably, Dai Nam's move to raise capital took place in the context that the business results of this business were quite dismal, with constant losses causing the business to lose capital. In particular, the operation of Dai Nam tourist area had to be closed for a long time due to the impact of the epidemic.

From 2016 to 2020, Dai Nam Corp (parent company) regularly recorded revenue of hundreds of billion dong, but this company continuously reported losses. Constant losses cause equity to be continuously eroded. By the end of 2020, Dai Nam's equity was negative nearly 344 billion dong.

Besides, the "controversies" surrounding the story of charity and denunciation between Mrs. Nguyen Phuong Hang and a number of famous artists and celebrities have also been a "hot" issue in recent months when receiving attention. especially public opinion at home and abroad.

Despite many difficulties in business activities, during the recent Covid-19 outbreak, Dai Nam of the giants "Dung kiln" and Ms. Nguyen Phuong Hang also attracted a lot of attention when giving oxygen to the front lines of the fight against COVID-19. At the same time, thousands of billions of dollars were spent to invest in building a glove factory to serve the high demand in the context of the complicated situation of the epidemic.

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