Dai Nam’s situation before Mrs. Nguyen Phuong Hang was arrested
Dai Nam Joint Stock Company was established in March 1996 with the main business being real estate.
In 1999, Dai Nam started construction of Dai Nam tourist area project, scale up to 450ha in Binh Duong province. This project took 10 years to complete to start welcoming guests in September 2008. This super project costs up to 6,000 billion VND in investment capital.
In 2016, Dai Nam started construction of a key project, Dai Nam Racecourse with a total area of 60ha, then officially opened its operation in early 2017. This is the first complex speed sports building in Vietnam. Men have a combination of 5 types of racing: horse, dog, motorcycle, go-kart, jet-ski and fly-board performance.
It is known that Dai Nam Racetrack was the idea that was conceived and implemented in less than… 24 hours. From the desire to invest in sports development besides existing tourism of Ms. Nguyen Phuong Hang and receive the consensus of the entire company. In the next day, Mr. Huynh Uy Dung started the project. Estimated capital for this project is about 100 million USD.
In the field of real estate, Dai Nam is the investor of 7 major projects in Binh Duong including: Urban Area Administrative Center of Di An District, Song Than 2 Resettlement Area, Song Than 2 Residential Area, and Song Than 2 Residential Area. Expanded Song Than 2 housing, Song Than commercial and service urban area, Dai Nam – Binh Phuoc residential area and Tan An 2 residential area.
Dai Nam Residential Project has a scale of 96.7 hectares, which is expected to become the most profitable place to live and invest in Binh Phuoc province for about 12,000 people. However, after nearly 4 years of implementation, the project is still quite desolate and uninhabited. The infrastructure has deteriorated, even some sidewalks in the inner street have been peeled off.
In addition, Dai Nam also strongly invests in industrial zones, when owning many large land funds such as Song Than 2 Industrial Park (279 ha), Song Than 3 Industrial Park (327 ha).
Holding a large land fund, the business of Mr. Dung and Mrs. Hang in 2020 alone has contributed more than VND 1,200 billion of land use levy to the State budget. This figure is equivalent to 15% of the total revenue from land in Binh Duong province.
Regarding the financial situation, Despite owning a huge land bank and many large projects, Dai Nam’s business activities have continuously suffered losses in recent years. From 2016 to now, this company has lost a total of 543 billion VND, of which the two years of 2019-2020 both lost approximately 150 billion VND per year.
The continuous loss caused Dai Nam to start negative equity since 2018 and by 2020 its equity has been negative to 344 billion dong. Also at the end of 2020, this company has more than 6,500 billion dong of liabilities.
At the end of November 2021, Dai Nam borrowed bonds to do the project. Specifically, the company issued 180 billion dong of bonds for the purpose of investing in building a factory for lease No. 2 in Song Than 3 Industrial Park, Phu Tan Ward, Thu Dau Mot City, Binh Duong Province.
In addition to Dai Nam Joint Stock Company, Mr. Dung and Mrs. Hang also appear in many other businesses such as Dai Nam Than Tien Tourism Company Limited, Dai Nam Consulting and Construction Company Limited, Tan Khai One Member Limited Liability Company, Hoang Gia Tan Dinh Limited Liability Company.
In September 2020, Mr. Dung and his wife Hang established Glove Dai Nam company, specializing in the production of medical gloves with a charter capital of 180 billion VND. However, Ms. Hang once revealed that the investment capital for this project is up to 1 billion USD.
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.
On March 24, 2022, the Investigation Police Agency of the Ho Chi Minh City Public Security Department issued Decision No. 190-01/QD on the prosecution of the criminal case “Abusing democratic freedoms to infringe upon the interests of the public. The State, lawful rights and interests of organizations and individuals”, Article 331 of the Penal Code; At the same time, issued Decision No. 300-50/QD on prosecution of the accused, arrest warrant for the accused for temporary detention No. 300-04/LB and search warrant No. 300-07/LKX against Ms. Nguyen Phuong Hang (SN 1971). , permanent resident 17-19 Ngo Duc Ke, Ben Nghe Ward, District 1; General Director of Dai Nam Joint Stock Company) for the above behavior.
The above Decisions and Orders have been approved by the People’s Procuracy of Ho Chi Minh City.
Previously, the Investigative Police Department of the Ho Chi Minh City Police Department accepted to investigate the case of “abusing democratic freedoms to infringe upon the interests of the State, the legitimate rights and interests of organizations and individuals” according to prescribed in Article 331 of the Penal Code, happened in Ho Chi Minh City by Ms. Nguyen Phuong Hang.
Ms. Nguyen Phuong Hang took advantage of her influence, used the functions of social networks on the internet, and organized many live broadcasts of unverified information related to other people’s private lives; in which use insulting words, insulting the honor and dignity of others.
During the investigation process, Nguyen Phuong Hang did not cooperate, disregarded the law, many times organized many people to go to the private houses of individuals with conflicts, causing insecurity and disorder in Ho Chi Minh City and other locations. other side.
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