(Dan Tri Newspaper) - The People's Committee of Bac Ninh province has recently issued a document regarding the acceleration of the implementation of the Hong Hac - Xuan Lam urban area construction investment project.
The Chairman of the People's Committee of Bac Ninh province requested the Department of Agriculture and Environment to urgently guide and organize the issuance of land use right certificates for the Hong Hac - Xuan Lam urban area construction investment project to the investor in accordance with regulations, to be completed before March 25th.
The Department of Construction is urgently organizing the appraisal of basic designs and issuing construction permits to ensure the conditions for commencement and construction of the project are met, to be completed before March 15th.
The Vietnam Bank for Industry and Trade Union Investment Joint Stock Company is required to develop a plan for the simultaneous construction of all licensed project components before April 5th.
At the Bac Ninh Provincial Planning and Investment Promotion Conference in September 2024, the Vietnam Bank for Industry and Trade Union Investment Joint Stock Company received approval from Bac Ninh province for the investment project to build the Hong Hac - Xuan Lam Ecological Urban Area in Thuan Thanh town, Bac Ninh province. This project has a total investment capital of 27,000 billion VND, equivalent to 1.06 billion USD.
The project has a planned area of 198.5 hectares and a population of nearly 28,000 people.
The Vietnam Bank for Industry and Trade Union Investment Joint Stock Company was established in 2009 and is headquartered in Xuan Lam Ward, Thuan Thanh Town.
As of 2015, the company had a registered capital of 320 billion VND. Of this, the Trade Union of Vietnam Commercial and Industrial Bank contributed 240 billion VND (accounting for 75% of the capital), Hanoi Housing Development Investment Joint Stock Company No. 36 contributed 16 billion VND, and Hanoi Infrastructure and Architectural Works Investment Joint Stock Company contributed 64 billion VND.
Subsequently, other shareholders withdrew their capital, while the Trade Union of Vietnam Commercial and Industrial Bank increased its capital to VND 316.5 billion (equivalent to 98.9%). The legal representative and Chairman of the Board of Directors is Mr. Nguyen Van Du (born in 1962). Mr. Du and two other individuals represent the capital stake of the Trade Union of Vietnam Commercial and Industrial Bank.
In 2016, the position of Chairman of the Board of Directors was transferred from Mr. Nguyen Van Du to Ms. Nguyen Mai Hoa. Subsequently, Mr. Tsen Fan Chih replaced Ms. Mai Hoa. He is currently the legal representative of the company.
In 2022, the shareholder structure was transformed into Nam Saigon Residences Joint Stock Company (nearly VND 319 billion, equivalent to 99.68% of charter capital), Phu The Vuong Development Company Limited, and Tan Thuan Company Limited.
In 2022, the company increased its capital to VND 2,620 billion. In July 2024, the company increased its charter capital to VND 4,620 billion, of which Nam Saigon Residences Joint Stock Company contributed nearly VND 4,619 billion.
Shareholders contributing capital to the Trade Union Investment Joint Stock Company of the Industrial and Commercial Bank (Photo: Business Registration Certificate).
Regarding Nam Saigon Residences Joint Stock Company, as of April 2022, the company had a charter capital of VND 6,120 billion. The contributing shareholders included Phu The Vuong Development Company Limited, Phu My Hung Development Company Limited, and Phu The An Development Company Limited. Of these, Phu My Hung Development Company Limited contributed nearly VND 6,115 billion, equivalent to 99.91% of the charter capital.
According to its website, Phu My Hung Development Company Limited was established on May 19, 1993. Phu My Hung is one of the largest and earliest real estate companies in Vietnam.
In 2023, the developer of Phu My Hung urban area recorded a net profit of VND 2,197 billion, a decrease of 39.2% compared to the same period in 2022. This means the company earned an average profit of over VND 6 billion per day.
As of the end of June 2024, Phu My Hung's equity reached VND 12,655 billion, a decrease of VND 1,300 billion. Total liabilities increased to nearly VND 22,400 billion, with outstanding bond debt remaining at nearly VND 8,000 billion.
Source: https://dantri.com.vn/bat-dong-san/bac-ninh-co-dong-thai-voi-du-an-1-ty-usd-cua-ong-lon-phu-my-hung-20250311132739518.htm
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