Mr. Dung "lime kiln" replaces Mrs. Nguyen Phuong Hang to run Dai Nam - The company loses half a billion/day

Mr. Dung "lime kiln" will return to run Dai Nam Joint Stock Company after Nguyen Phuong Hang is arrested.

On March 25, answering PV, Mr. Vo Kim Thanh, Deputy General Director of Dai Nam Joint Stock Company said that Mr. Huynh Uy Dung (commonly known as Dung "lime kiln") will temporarily run Joint Stock Company. Dai Nam after Nguyen Phuong Hang was arrested.

Mr. Thanh added that he only knew about Nguyen Phuong Hang's arrest after the press published it.

"The work at the company is still operating normally, without interruption, the resort is still open to welcome guests. The temporary company operator will be Mr. Dung", Mr. Vo Kim Thanh said.

Dai Nam Joint Stock Company was founded in 1996 by Mr. Dung "Lo Voi". This company is currently registered for 127 business lines, of which the main activity is real estate with many large land banks in Binh Duong (279ha in the industrial park). Song Than 2, nearly 534ha in Song Than 3 industrial park, 450ha Dai Nam tourist area).

In addition, there are factories, investment and business in technical infrastructure of residential areas and industrial parks (following the planning).

The most prominent in the career of Ms. Hang and her husband is the 450-hectare Dai Nam Tourist Area project, which was started in 1999 and took nearly 10 years to complete to welcome tourists.

According to the project introduction, the total investment capital of Dai Nam Tourist Area is up to 6,000 billion VND and the context is completely designed by Mr. Huynh Uy Dung.

In May 2020, Mr. Huynh Uy Dung suddenly announced that he would stop the business and transfer the executive role to his wife, Nguyen Phuong Hang, to focus on charity work by selling the properties he had built. over the past 40 years to help people.

According to a source on Vietnambiz, Dai Nam's charter capital by the end of 2019 is VND 207 billion, of which Mr. Dung holds about 99.92% of the capital.

By the end of 2020, Dai Nam has a charter capital of VND 207 billion, of which more than 99% is owned by Mr. Huynh Uy Dung, her husband Nguyen Phuong Hang.

According to Zing.vn, in the period 2016-2018, Dai Nam Joint Stock Company's revenue grew steadily every year. In 2016, the net revenue of the owner of Lac Canh Dai Nam Van Hien resort was VND 373 billion, gross profit was VND 320 billion, equivalent to a gross profit margin of 86% (high compared to some businesses in the same industry). ). However, the company reported a loss after tax of 51 billion dong. Dai Nam's accounts payable are too large.

By 2018, Dai Nam recorded net revenue at VND 454 billion, an increase of VND 49 billion compared to the previous year. Gross profit and profit after tax of the business also improved, reaching 438 billion dong and negative 84 billion dong, respectively.

2019 witnessed a serious decline in business results of Dai Nam Joint Stock Company. While revenue decreased by 10% to VND 409 billion, approximately in 2017, the company's profit after tax was negative to VND 154 billion. On average, the owner of the largest tourist area in Binh Duong makes a loss of 422 million dong every day.

At this time, the accumulated loss of Dai Nam Joint Stock Company was larger than the charter capital of 195 billion VND. As of December 31, 2019, the total capital of Mr. Dung's company "lime kiln" reached VND 4,475 billion, of which short-term debt was VND 755 billion, long-term debt was VND 3,915 billion.

Unable to improve the business situation in the following years, the increasingly "bulging" losses weighed more and by the end of 2020, Dai Nam's equity was negative nearly 344 billion dong, according to VietnamFinance .

In order to mobilize more resources to "feed" business activities, from 2020, Dai Nam started to promote long-term debt, with 541.4 billion VND, much higher than 3 billion VND in the same period.

Not only the tourist area is facing difficulties, some projects of Dai Nam such as Dai Nam Residential Area or Dai Nam Residential Area in front of National Highway 13, Minh Hung town, Chon Thanh district, Binh Phuoc province are not allowed. guests are too "salty".

Dai Nam Housing Project has a scale of 105.8 hectares, invested by Dai Nam Joint Stock Company with a total investment of more than 2,300 billion VND.

When the project is opened for sale at the end of 2018, Dai Nam residential area is expected to develop and promote the real estate market of Chon Thanh district in particular and of Binh Phuoc province in general because the market has not had a single project yet. large-scale project, methodical investment. However, the residential area was not "salty" by customers.

According to a source from VTC News, in 2021, Dai Nam Joint Stock Company mortgaged 309 Land Use Rights Certificates (red book) of Dai Nam Residential Area project (Phu Tan ward, Thu Dau Mot city, province). Binh Duong) at the Land Registry Office of Binh Duong Province.

Regarding taking the red book as a mortgage for a bank loan, Phuong Hang also posted on a forum that this is not a very special thing.

In addition to Dai Nam Joint Stock Company, Ms. Nguyen Phuong Hang also joins her husband in many other businesses.

She is also a founding shareholder holding 20%, equivalent to the share capital in Glove Dai Nam Company (established in 2020) with the main business of producing gloves, charter capital of 180 billion VND, owned by Mr. "lime kiln" as Chairman. Mr. Dung himself owns 30% of Glove Dai Nam shares.

Dung and his wife Hang also co-founded Hang Huu Huynh Wastewater Treatment Joint Stock Company at the end of 2018 with a charter capital of 99 billion VND. Each person owns 15% of the company's shares.

During the livestream in October 2021, Nguyen Phuong Hang once shared that she and her husband mortgaged their property to borrow VND 300 billion to build an oxygen factory. This project was implemented during a very complicated time of the Covid-19 epidemic.

This information at that time attracted public attention because Hang had never hidden the couple's "terrible" fortune.

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