Sure, I can assist you with that. #### Illicit Land Use Change: Danh Khoi Holdings Faces Penalties

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Danh Khôi Holdings has been found to have illegally converted nearly 2,234 square meters of rice farming land to non-agricultural use without authorization from the competent state agency. The affected plots include: 172, 185, 186, 133, 119, 206, from map sheet 31 and plot 405, sheet 35, in Long Toàn Ward, Bà Rịa City.

As a consequence, the company has been fined a total of VND 284 million and ordered to return illegally gained profits of over VND 181 million resulting from their violation. They have been given a 10-day deadline to rectify the situation from the date of receiving the decision.

All costs associated with enforcing these remedial measures will be borne by Danh Khôi Holdings.

It is worth noting that the Chairman of the Board of Directors of Danh Khôi Holdings, Mr. Lê Thống Nhất, also serves in a similar capacity at a listed company, NRC.

In the same Long Toàn Ward, Bà Rịa City, NRC is developing the Barya Citi project, spanning 8.738 hectares with a total investment of VND 660 billion. The project is expected to comprise 407 shophouses.

Artist’s impression of Barya Citi. Source: NRC

This is the second time in six months that Danh Khôi Holdings has been penalized by the authorities of Bà Rịa-Vũng Tàu province. Previously, on December 19, 2023, the Chairman of the Provincial People’s Committee issued a decision to fine the company for constructing certain items without a proper building permit.

Specifically, Danh Khôi Holdings was found to have constructed residential buildings east of the Thủ Lựu canal that deviated from the approved building permit. Additionally, a sewage treatment plant measuring approximately 6m x 34m and an administration building of about 4.3m x 4.3m were built without any building permit.

For these violations, the company was fined VND 240 million and ordered to halt construction. Within 90 days from the issuance of the decision, the company must complete the necessary procedures to adjust their building permit for the deviated construction and obtain a building permit for the unpermitted structures.

Danh Khôi Holdings is responsible for implementing the remedial measures outlined in the decision, and all associated costs will be borne by the company.

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