Phat Dat Real Estate's accounts are no longer frozen due to tax debts.

(Dan Tri Newspaper) - Ho Chi Minh City Tax Department has issued a decision to terminate the enforcement of the administrative decision on tax management against Phat Dat.

On September 26th, the Ho Chi Minh City Tax Department issued a decision to terminate the enforcement of an administrative decision on tax management by means of deducting money from and freezing accounts of Phat Dat Real Estate Development Joint Stock Company (stock code: PDR).

The above decision aims to terminate the validity of the Decision dated September 24, 2025, of the Ho Chi Minh City Tax Department regarding the enforcement of administrative decisions on tax management against Phat Dat.

Previously, on September 16th and 17th, the Tax Department of Gia Lai province, branches 2 and 1, also issued decisions on enforcing administrative decisions regarding tax management against Phat Dat.

On its website, Phat Dat announced: On September 24th, the company received Decision No. 10494/QD-HCM-KDT dated September 24th from the Ho Chi Minh City Tax Department regarding the enforcement of an administrative decision on tax management. On the same day, the company rectified the situation and paid the full amount to the state budget.

Phat Dat recently attracted attention with a large-volume transaction by its Chairman of the Board.

Specifically, Mr. Nguyen Van Dat - Chairman of the Board of Directors - recently sold 88 million PDR shares. After the transaction, the number of shares owned by Mr. Dat decreased from 359.8 million units (36.7% of capital) to 271.8 million units (27.7% of capital), but he remains the largest shareholder of the Company.

The transaction was conducted through negotiated deals between September 5th and September 18th. During this period, PDR shares saw negotiated transactions totaling 88.4 million units, with a total value of approximately 2,121 billion VND. It is estimated that Mr. Dat earned over 2,100 billion VND from this transaction.

PDR stock transaction (Photo: VNDStock).

How is Phat Dat's business doing?

In terms of business, according to the consolidated financial report for the second quarter of 2025, Phat Dat recorded net revenue of 20 billion VND, of which nearly 12 billion VND came from real estate transfers.

After deducting the cost of goods sold, Phat Dat's gross profit for the period was less than 5 billion VND. Thanks to increased financial revenue, mainly from the transfer of equity stakes, Phat Dat recorded after-tax profit of nearly 65 billion VND, an increase of 31% compared to the same period last year.

For the first six months of 2025, Phat Dat recorded net revenue of over 457 billion VND, an increase of approximately 168% compared to the same period in 2024. After-tax profit reached nearly 116 billion VND, an increase of 13%.

Compared to the full-year after-tax profit target of 728 billion VND, the company has only achieved nearly 16% of the set goal.

As of June 30, 2025, Phat Dat's consolidated total assets were nearly VND 24,300 billion, with inventory still accounting for the largest proportion, at over VND 14,100 billion. Phat Dat's total liabilities were nearly VND 12,400 billion.

Source: https://dantri.com.vn/kinh-doanh/bat-dong-san-phat-dat-het-bi-phong-toa-tai-khoan-do-no-thue-20251004181441729.htm