Recently, Mr. Vu Tien Dung, Director and legal representative of Song Da - Thang Long Joint Stock Company, was temporarily suspended from leaving the country due to the company being forced to pay taxes. Previously, on October 23, Song Da - Thang Long Joint Stock Company was forced to stop using invoices by the Hanoi Tax Department.
Song Da - Thang Long Joint Stock Company (stock code: STL) was established on December 5, 2006, formerly a member of Song Da Corporation. Song Da - Thang Long Joint Stock Company is the investor of the Usilk City urban area project in Ha Dong district, Hanoi.
The Usilk City project started construction in 2008, including 9 high-rise apartment blocks with 2,800 luxury apartments, along with a system of public service works, green and modern utilities with a total investment of about 10,000 billion VND.
Up to now, after more than a decade of implementation, the Usilk City urban area project is still unfinished, causing customers to fall into a difficult and frustrating situation for many years.
Projects 106, 107, 108, 109 of Usilk City urban area project are unfinished and abandoned for many years.
Several other buildings in the USilk City urban area project are under construction and have been handed over to residents.
In the photo are buildings 101, 102, 103 that have been handed over. Although Song Da - Thang Long committed to handing over apartments to customers who bought apartments in buildings 101, 102, 103 in 2013, they failed to do so. Customers were not able to receive their apartments until early 2016.
Building 105 of the USilk City urban area project has been completed and put into use with a height of 50 floors under the name HPC Landmark 105. However, the investor of this building is not Song Da - Thang Long but Hai Phat Thu Do Company - the cooperative unit transferred since 2015.
Similar to building 105 above, to "save" building 104 (commercial name BID Residence), the investor is cooperating with BID Group to implement. Currently, this project has completed the 50-storey rough construction, but is facing controversy over the progress of handover to customers.
Regarding this project, in recent years, customers have continuously sent complaints to the authorities against the investor Song Da Thang Long. According to customers, during the project implementation from 2009 to 2012, the investor mobilized capital from thousands of customers with an amount of thousands of billions of VND. However, due to the spread and dispersion of investment... Song Da Thang Long has "forgotten" the interests of customers at the Usilk City project.
The lack of synchronous investment in project construction is creating consequences, affecting urban aesthetics and living space for local people.
According to Conclusion No. 99/KL-TTTP-P2 dated January 12, 2017 of Hanoi Inspectorate, as of March 31, 2016, Song Da - Thang Long Joint Stock Company used more than VND 5,302 billion collected from customers buying future apartments and credit institutions for external investment, using it for the wrong purpose.
Song Da - Thang Long Joint Stock Company signed capital mobilization contracts with 103 customers; signed house sale contracts with 1,931 customers; signed commercial floor sale contracts with 188 customers; signed investment cooperation contracts with 3 companies; signed loan contracts with 1 company; signed loan contracts with 7 credit institutions and 2 financial companies; issued corporate bonds to mobilize capital for the Usilk City project with a total amount of VND 8,456 billion.
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