DNVN - Regarding the recent announcement of the Government Inspectorate 's conclusion on the 23,380 m2 land plot at 275 Nguyen Trai, Thanh Xuan District, Hanoi, Hoang Huy Financial Services Investment Joint Stock Company (stock code: TCH) said that the enterprise is a related party of the inspection subject mentioned in this conclusion.
On October 11, the Government Inspectorate issued inspection conclusion notice No. 2124/TB-TTCP (Government Inspectorate conclusion) on the conversion of land use purposes from production and business land in the period 2011-2019 of State-owned enterprises and equitized enterprises.
The Government Inspectorate's conclusion mentioned a number of contents related to Hoang Huy Financial Services Investment Joint Stock Company (stock code: TCH).
Specifically, the 23,380 m2 land plot at 275 Nguyen Trai, Thanh Xuan District, Hanoi (Project 275 Nguyen Trai) is a project that the Hanoi People's Committee reclaimed from Precision Mechanical Joint Stock Company No. 1 and assigned to Hung Viet Trading Joint Stock Company (implemented in 2009).
Precision Mechanical Engineering Joint Stock Company No. 1 transferred 3.2 million shares of Hung Viet Trading Joint Stock Company to Hoang Huy Financial Services Investment Joint Stock Company (implemented in 2011).
On October 15, in the report sent to the Ho Chi Minh City Stock Exchange (HoSE) about the Government's inspection conclusion, TCH said that the specific contents related to the 275 Nguyen Trai Project, in section 3.1 of the proposed handling measures, 3 projects with conclusions identifying signs of violations according to the Penal Code do not include the name of the 275 Nguyen Trai Project.
Regarding the Hanoi People's Committee's land reclamation and assignment to Hung Viet Trading Joint Stock Company to implement the project, the Government Inspectorate's conclusion announcement stated: Hanoi People's Committee reclamation of 23,380 m2 of production land of Precision Mechanical Joint Stock Company No. 1, assignment to Hung Viet Trading Joint Stock Company "in the form of land allocation with land use fee collection to implement the housing project".
Since its establishment, Hung Viet Trading Joint Stock Company has implemented the project according to the decision and policy of Hanoi People's Committee. Up to now, Hung Viet Trading Joint Stock Company has paid 100% of the land use fee according to all decisions issued by state agencies for the Project.
The Company's investment in the 275 Nguyen Trai project has been completed. The project construction process has construction permits and approvals from state agencies. The buildings of the project have been implemented and approved by competent authorities for use. Accordingly, 100% of customers who purchased apartment products have been granted certificates of land use rights and ownership of assets attached to the land and are living stably in the project.
Regarding the transfer of 3.2 million shares of Precision Engineering Company No. 1 at Hung Viet Trading Joint Stock Company, the inspection conclusion notice stated: "Precision Engineering Joint Stock Company No. 1 transferred 3.2 million shares at Hung Viet Trading Joint Stock Company to Hoang Huy Financial Services Investment Joint Stock Company at par value".
Regarding this content, TCH believes that the transfer of 3.2 million shares of Precision Mechanical Joint Stock Company No. 1 at Hung Viet Trading Joint Stock Company was decided by the Board of Directors of Precision Mechanical Joint Stock Company No. 1.
Hoang Huy Financial Services Investment Joint Stock Company is the transferee of shares and has fully performed the obligations under the transfer agreement, according to which the transfer price is the par value of shares at the time of transfer. This transaction was completed in 2011.
Regarding the implementation of additional financial obligations for the base block of the NO1 Housing Project approved by the State agency for adjustment and supplementation (if any), TCH commits to submit and immediately pay 100% of the value of the additional financial obligations as soon as the competent State agency issues a decision determining the additional financial obligations that need to be paid (if any).
Regarding the recovery of 3,557 m2 (plot NO2) of the Project, according to TCH, in fact, plot NO2 was assigned to Hung Viet Trading Joint Stock Company as a 20% land fund of the city to build a housing project for sale to officials and civil servants in the area and is under the approval authority of the Government and the authorities. The current status of plot NO2 is a clean site and has not been constructed since the land was assigned until now. Therefore, the recovery of plot NO2 of the Project will be carried out when there is an official decision from the authorities and will not give rise to any additional financial obligations to be submitted and paid by the company.
Regarding the announcement of the Government Inspectorate's conclusion, TCH said that the company is a related party to the inspection subject mentioned in the Government Inspectorate's conclusion. However, this is a normal inspection activity according to State regulations. The company is the party that always fully performs its obligations to related parties and fully performs its obligations to the State according to regulations.
However, TCH believes that from October 11, 2024 until now, there has been a lot of unofficial information appearing on social media channels and groups with the intention of deliberately distorting the nature of the information, showing signs of fabrication, exaggerating the scale and impact, causing confusion that could affect the company and shareholders and investors in general, while all activities and business situations of the company are taking place normally. The financial obligations arising (if any) are completely within the financial capacity of the company.
"Investors need to clearly and accurately distinguish the information that Hoang Huy's 275 Nguyen Trai Project is among the 5 projects in category 3.2 - Section C that need to transfer information and documents, not the 3 projects in category 3.1 - Section C in the Government Inspectorate's conclusion that need to transfer files and documents for processing. Investors need to refer to official information from the company and should only refer to reliable, verified information sites," Hoang Huy advised.
Previously, in the trading session on October 8 and 9, TCH shares witnessed a sharp decline, with the remaining selling volume at the floor price reaching nearly 14 million units at one point. This situation occurred after rumors spread that TCH shares of Hoang Huy Financial Services Investment Joint Stock Company were being investigated by the State Securities Commission (SSC) for transactions in the period 2021 - 2022. Afterwards, the SSC said that this was a periodic inspection activity according to regulations for listed enterprises.
The head office of Hoang Huy Financial Services Investment Joint Stock Company is located at 116 Nguyen Duc Canh, Cat Dai Ward, Le Chan District, Hai Phong City. Currently, Mr. Do Huu Ha holds the position of Chairman of the Board of Directors, Ms. Hoang Thi Huyen holds the position of General Director.
Thu An
Source: https://doanhnghiepvn.vn/kinh-te/chung-khoan/lien-quan-sai-pham-tai-du-an-275-nguyen-trai-tai-chinh-hoang-huy-tch-noi-gi/20241016024358735
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