The Board of Directors of No Va Real Estate Investment Joint Stock Company (Novaland, HoSE: NVL) has just passed a resolution on reducing capital at its subsidiary, Novaland Dat Tam Real Estate Investment Company Limited (NVL Dat Tam Company).

Currently, Novaland owns 51% of the charter capital (equivalent to a capital contribution of 51 billion VND) at NVL Dat Tam. After the capital reduction, the charter capital ownership ratio at the subsidiary remains unchanged, but Novaland's capital contribution value is only 51 million VND. Thus, NVL Dat Tam will reduce its charter capital from 100 billion VND to 100 million VND.

Regarding the reason, Novaland said the company must return a portion to members according to the capital contribution ratio in the charter capital.

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Actor Chi Bao retired from acting in May 2021 to focus on business and charity. Photo: TL

Headquartered at 61 Truong Dinh, Vo Thi Sau Ward, District 3, Ho Chi Minh City, NVL Dat Tam is known as a business operating in the real estate business. The representative and General Director of NVL Dat Tam is Mr. Pham Gia Chi Bao - commonly known as actor Chi Bao. After 25 years of working in the arts, at the end of May 2021, this actor born in 1974 announced his retirement to focus on business and charity work.

NVL Dat Tam was established in February 2022 with an initial charter capital of 100 billion VND. Of which, Novaland owns 51%, the rest belongs to Dat Tam Investment Joint Stock Company (Dat Tam Investment Company).

In addition to NVL Dat Tam and Dat Tam Investment Company, former actor Chi Bao is also the legal representative of more than a dozen other real estate and tourism companies.

Regarding Dat Tam Investment Company, this is also a real estate business and was established in January 2019. The initial charter capital of this company is 200 billion VND, of which former actor Chi Bao owns 99.9%. The remaining capital contribution belongs to another individual.

Just a few months after its establishment, Dat Tam Investment Company increased its capital to VND500 billion and VND1,200 billion respectively. Of which, the capital ownership ratio of former actor Chi Bao remained unchanged.

After that, the shareholder structure of Dat Tam Investment Company had a big change when former actor Chi Bao only owned 60% of the capital. Of the remaining 40% of capital, Ms. Nguyen Tuyet Mai held 35% and A Dong Vidotour Tourism and Trade Company Limited owned 5%.

Regarding the relationship between Novaland and Dat Tam Investment Company, in July 2022, this consortium proposed to study the planning and investment of 2 projects in Khanh Hoa province. These are the Dien Khanh Eco-Urban Area - Golf Course with a scale of more than 2,445 hectares (Dien Khanh and Khanh Vinh districts) and the High-tech Agricultural Urban Area with a scale of 995 hectares in Dien Khanh district.

Previously, in early 2022, the consortium of Novaland and Dat Tam Investment Company proposed the idea of ​​planning a 23,500-hectare tourist area project in Dak Glong district and Ta Dung National Park, Dak Nong province.

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