Vietjet and Castlelake agree to arrange finance to buy Airbus; Transfer of power at Ha Do; Dong Tam Group wants to increase capital again
Duc Long Gia Lai sells US electronic components manufacturing business; Launches Aloo – Japan’s first MVNO telecommunications network exclusively for Vietnamese people; Loc Troi proposes to take preventive measures against the former CEO; Coteccons and DIC Holdings are both eliminated from the VND522 billion bidding package…
Vietjet and Castlelake agree to finance four Airbus aircraft
Vietjet Air and Castlelake, a global investment management company with nearly 20 years of experience in aircraft investment, leasing and services, have signed a financing agreement for four aircraft worth $560 million. The event took place in the presence of General Secretary and President To Lam at the Vietnam-Ireland Business Forum on October 3.
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| Vietjet and Castlelake have awarded a financing agreement for four aircraft worth $560 million. |
Accordingly, Castlelake will provide finance for four new, modern A321neo aircraft in the existing aircraft order from Vietjet and Airbus. These aircraft will be delivered in 2024.
This transaction follows the financing agreement completed in 2023 for three Airbus A321neo aircraft. At the same time, the two parties also establish a foundation for cooperation on other financing agreements for Vietjet's rapidly growing fleet in the future.
Vietjet is operating a fleet of more than 100 aircraft, with the most advanced, modern, and safest aircraft generations in the world such as A320, A321ceo, A321neo - A321neo ACF, A330 to protect the environment, save fuel with the goal of reducing net emissions to 0 (Net Zero) by 2050.
Castlelake was established in 2005 and has been involved in financing in various ways over 650 aircraft of various types, with relationships with around 200 airlines from 60 countries worldwide.
The transfer of power in Ha Do
Chairman of the Board of Directors Nguyen Trong Thong officially transferred to the role of Founding Chairman to continue supporting Ha Do in business activities, after the extraordinary General Meeting of Shareholders of Ha Do Group Corporation on October 3 approved the dismissal of Mr. Nguyen Trong Thong from the position of Chairman of the Board of Directors and member of the Board of Directors.
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| The extraordinary general meeting of shareholders of Ha Do Group Corporation approved the dismissal of Mr. Nguyen Trong Thong from the position of Chairman of the Board of Directors and member of the Board of Directors. |
Ha Do’s extraordinary general meeting of shareholders also approved important amendments to the charter such as introducing the title of “Founding Chairman” allowing Mr. Thong to continue to provide advisory support to the Board of Directors and the Executive Board; Adding the “financial investment” segment to Ha Do’s business activities; Expanding the candidates for the position of legal representative to include the Chairman, General Director, or another designated individual.
Mr. Thong said that Mr. Le Xuan Long, a member of the Board of Directors who has worked for the past 25 years, will be the new Chairman of Ha Do. Mr. Long is currently the General Director of Za Hung JSC (operating in the field of power generation). Mr. Long has extensive experience in infrastructure and energy project management, holds a Master's degree in Engineering from Hanoi University of Transport and an MBA from Griggs University (USA).
Mr. Thong also said that Mr. Nguyen Trong Minh will be the new General Director. Mr. Minh was previously Deputy General Director and has 13 years of experience at Ha Do. He has a Bachelor of Business Administration from Hamline University (USA).
Coteccons and DIC Holdings were both eliminated from the 522 billion VND bid package.
The joint venture Coteccons and DIC Holdings did not meet the requirements on capacity and experience in constructing package No. 12 of the project in Vung Tau City.
The People's Committee of Vung Tau City (Ba Ria - Vung Tau Province) has decided to cancel the bidding for the selection of contractors for package No. 12 for construction and installation of construction equipment (except for the whale symbol and highlight works) of the project to renovate Thuy Van Street, Vung Tau City. This package is worth more than 522 billion VND. Information on the Industry and Trade Newspaper.
Accordingly, package 12 has the participation of contractor CTD - South (joint venture of Coteccons Construction JSC and Bac Trung Nam Infrastructure Construction JSC) and Thuy Van joint venture (joint venture of Dong Nam Construction LLC and DIC Holdings Construction JSC) participating in the bidding. The investor is the People's Committee of Vung Tau City. The inviting party is the Vung Tau City Construction Investment Project Management Board.
According to the E-HSMT evaluation report, the contractor CTD – South did not meet the requirements on capacity and experience according to E-HSMT. The machinery that the contractor arranged did not meet the requirements, in which the truck crane with a lifting capacity >= 10 tons only met 1/2 of the equipment (equipment 51C-087.88 met the requirements). After the inviting party requested clarification, the contractor proposed to replace the equipment, but reused the original equipment 51C-087.88, causing duplication.
In addition, CTD – South also did not meet the technical requirements for construction materials, construction methods and equipment installation for items such as Thuy Van road, park and sea dike.
Joining CTD – South in the bidding is the Thuy Van consortium (including Dong Nam Construction Company Limited and DIC Holdings Construction JSC – DC4). However, this consortium was also disqualified from bidding package No. 12 because it did not meet the requirements on capacity and experience as stipulated in the E-HSMT. Specifically, contract No. 40/2018/HDXD dated November 23, 2018 related to the construction of Ba Ria Park (phase 2) did not meet the required value.
The consulting team requested additional documents proving the value of completion and acceptance, but the implementation value only reached over 188.7 billion VND, lower than the requirement in E-HSMT of 190 billion VND. Therefore, the contractor did not meet the similar contract conditions.
Furthermore, the Southeast – DIC Holdings Joint Venture did not propose a special subcontractor as required by E-HSMT and did not have the capacity to perform the fire prevention and fighting work. This caused their bid to be evaluated as unqualified.
Loc Troi proposes to take preventive measures against former CEO Nguyen Duy Thuan
The reason was "fraudulent behavior, causing loss of company assets.
On September 23, 2024, the People's Committee of An Giang province issued Official Dispatch No. 4902/VPUBND-NC, stating that it had received an official dispatch from Loc Troi Group Joint Stock Company (LTG) regarding "requesting the leaders of the Provincial People's Committee to direct competent authorities to take preventive measures against Mr. Nguyen Duy Thuan, former General Director of Loc Troi Joint Stock Company, for committing fraudulent acts, showing signs of violating the law, causing loss of company assets".
Vice Chairman of the Provincial People's Committee Le Van Phuoc has proposed transferring the provincial police to consider and resolve Loc Troi's request according to their authority.
Previously, on July 24, 2024, Loc Troi sent a document requesting the Provincial People's Committee to revoke the APEC card and apply temporary exit suspension measures against Mr. Nguyen Duy Thuan. Loc Troi said that Mr. Thuan "had an evasive attitude, lacked cooperation in the handover and showed signs of trying to leave the country to shirk responsibility".
In response to the document, the People's Committee said it did not have the authority to resolve the revocation of APEC cards.
In addition, the An Giang Provincial People's Committee only has the authority to decide to temporarily suspend Mr. Nguyen Duy Thuan's exit from the country in the event that he is the person being forced to leave, or the legal representative of the enterprise being forced to execute the decision on administrative sanctions, and it is deemed necessary to immediately prevent that person from escaping. Therefore, this request is not within the jurisdiction of the Provincial People's Committee.
Loc Troi Group has dismissed Mr. Nguyen Duy Thuan from the position of General Director from July 15, 2024. Before being dismissed, he had been CEO of Loc Troi Group for more than 4 years.
Mr. Huynh Van Thon, Chairman of the Board of Directors, will temporarily run the company's operations until a new CEO is appointed.
Launching Aloo – the first MVNO telecommunications network in Japan exclusively for Vietnamese people
MVNO, or mobile virtual network operator, is a model that allows companies that do not own network infrastructure to still provide telecommunications services by leasing bandwidth from major carriers such as Docomo.
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| Rikai Technology Team. |
With Aloo, Rikai Technology could become an important missing piece in Japan's telecommunications market.
Aloo's strength lies in its flexibility and simplicity in the registration process. Customers only need to install the Aloo application, register their personal information and receive an eSIM right on their phone.
With an integrated payment system at 300,000 transaction points across Japan, users can pay in cash at convenience stores without needing a bank account, a feature that is especially useful for those who are new to Japan and have not yet set up a bank account.
What makes Aloo stand out in the market is not only the provision of telecommunications services but also the spirit of professional customer service, Japanese standards but operated by a Vietnamese enterprise. This has created a big difference compared to domestic competitors, when Aloo aims to serve customers as real customers, not simply as overseas workers.
According to the plan, Aloo expects to have 10 thousand users next year. Further, Aloo aims to serve more than 600 thousand Vietnamese people in Japan and in the future will expand to other foreign communities in the land of the rising sun.
Rikai Technology, a Vietnamese enterprise in Japan, specializes in providing software outsourcing services. Mr. Hai Bang was a former manager of FPT Corporation. At the end of 2018, he decided to quit his job and open his own company Rikai, starting with the software outsourcing field. After 5 years, Rikai now has official offices in Japan, Hanoi and Da Nang with a scale of 200 employees, an average revenue of 6 million USD/year, equivalent to an annual growth rate of up to 30%.
Duc Long Gia Lai sells US electronic components manufacturing business
Duc Long Gia Lai Group Joint Stock Company said it has completed legal procedures to transfer all capital at its subsidiary, Mass Noble Investments Limited, headquartered in the British Virgin Islands (UK) to Alpha Seven Group Joint Stock Company. The transfer value is VND255 billion.
Mass Noble is an American company specializing in the production of ANSEN electronic components, with a factory located in Dong Quang City (Guangdong Province, China). This is a large-scale factory built on an area of 40,000m2 (5 floors), focusing on the production and processing of high-tech electronic and telecommunications products such as high-end LED lights for interiors, cars, streets and highways; LCD screens... Consumption markets in Europe, America, Japan, Korea, China...
After nearly a decade of owning an American electronic components manufacturing company through a stock swap, Duc Long Gia Lai Group Corporation has divested all of its capital in this subsidiary to restructure its investment.
Alpha Seven Group is not a strange name as it used to be a subsidiary of DLG. Starting from the bus station and parking lot service business, Alpha Seven is currently operating in multiple sectors including: bus station and parking lot services; renewable energy investment; real estate investment; electronic component manufacturing.
Alpha Seven currently has two subsidiaries: DLG Ninh Thuan Solar Power JSC with a charter capital of VND 210 billion (Alpha Seven holds 50%) specializing in investing and constructing renewable energy projects and DLG Ansen Electronics LLC with a charter capital of VND 80 billion (Alpha Seven holds 100%) specializing in manufacturing consumer electronics products.
Dong Tam Group wants to increase capital again, this time to nearly 1,500 billion VND
Dong Tam Joint Stock Company (Dong Tam Group) continues to want to increase its charter capital to nearly 1,500 billion VND. This is a plan included in the 2024 Annual General Meeting of Shareholders document of Dong Tam Group, a company chaired by Mr. Vo Quoc Thang.
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| Long An International Port is a key project with an investment capital of more than 10,000 billion VND of Dong Tam Group. |
According to the documents of the General Meeting of Shareholders, Dong Tam Group submitted to shareholders a plan to increase charter capital from VND 995.6 billion to more than VND 1,493 billion in the form of offering shares to existing shareholders at a rate of 50% (2:1).
Specifically, the Company offers nearly 49.8 million shares to existing shareholders at VND15,000/share, equivalent to an estimated revenue of nearly VND747 billion to supplement capital. The shares offered are not subject to transfer restrictions. The implementation time is decided by the Board of Directors.
Previously, at the end of August 2023, Dong Tam Group increased its charter capital to VND995.6 billion. This is the first capital increase of Dong Tam Group in 15 years.
Dong Tam is a long-standing brand in the construction materials industry associated with the name of Mr. Thang. The Group currently owns 16 member companies, spanning the fields of construction materials and interior decoration; real estate business; education; services; trade... with many projects.
In particular, Long An International Port is a key project with an investment capital of more than 10,000 billion VND, divided into 3 phases, expected to be completed in 2024. Currently, Long An Port Joint Stock Company is the member unit with the largest charter capital of more than 1,125 billion VND, of which Dong Tam holds 45% of the capital.
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