In a recent decision on July 31, Dong Nai will revoke 24,913 square meters of land in Phuoc Dai Phuoc commune, Nhon Trach district, from Vina Dai Phuoc. The land was previously granted to the company on December 31, 2007, with land-use rights certificates issued to the Joint Stock Company for Investment, Development, and Construction (HOSE: DIG). The Land Registration Office (now the Provincial Land Registration Office) registered a change on March 19, 2008, transferring the land-use rights to Vina Dai Phuoc Joint Stock Company, as the company received capital contribution in the form of land-use rights.
The reason for the land revocation is that Vina Dai Phuoc has transferred a part of the project to KinderWorld Vietnam Joint Stock Company, as per the decision of the People’s Committee in December 2020.
On the same day, July 31, the Provincial People’s Committee also decided to lease the land to KingderWorld Vietnam to implement the Singapore International Education Area project in Dai Phuoc commune, Nhon Trach district. The leased area is 24,913 square meters, which was revoked from Vina Dai Phuoc as mentioned above.
The land lease is in the form of a one-time payment for the entire lease period. The lease term is from July 31, 2024, to November 15, 2054 (the remaining land-use duration of Vina Dai Phuoc).
Vina Dai Phuoc Joint Stock Company is a joint venture between DIG and VinaCapital (through two member funds), established in 2007 with a charter capital of nearly VND 1,654 billion, to implement the Hoa Sen Dai Phuoc project. As of August 2016, DIG held 28% of the capital, while the two foreign shareholders, VinaCapital Pacific Limited – Singapore, owned 54%, and Allright Assets Limited – Singapore held 18% of Vina Dai Phuoc.
Subsequently, the founding shareholders of Vina Dai Phuoc, VinaCapital and DIG, successively withdrew their capital. The transferee of VinaCapital’s stake was China Fortune Land Development (CFLD), an industrial real estate development corporation in China. The project, after changing hands to the new investor, was renamed from Hoa Sen Dai Phuoc to SwanBay Dai Phuoc. In late 2021, Vina Dai Phuoc announced that SNC Investments 27 and 28, two subsidiaries of CFLD (registered in Singapore), were no longer part of the company’s shareholder structure.
 New developments in the Swanbay Dai Phuoc mega-project
KingderWorld Vietnam is a subsidiary of the Singapore-based KinderWorld International Education Group. The company was established in July 2007 and is currently led by Mr. Tan Teck Yong as its Director. The company has a charter capital of nearly VND 144.7 billion, of which foreign ownership accounts for 99.8%, with Kingderworld International Group Ltd. (Singapore) holding 99.5% and Mr. Tan Teck Yong owning 0.03%. Notably, Mr. Tan Teck Yong also serves as the Chairman of the Board of Directors of the Joint Stock Company for International Consulting and Education of Vietnam Singapore, a company with a charter capital of VND 12 billion, wholly owned by private Vietnamese capital.
The KinderWorld International Education Group has its roots dating back to 1986 in Singapore. In the late 1990s, the investors of KinderWord decided to expand their operations overseas, including Vietnam. KinderWorld established the KinderWorld International Kindergarten (KIK) in Hanoi and Ho Chi Minh City in 2000 and the Singapore International School in Hanoi and Ho Chi Minh City in 2004. In Vietnam, the KinderWorld International Education Group currently operates a system of educational institutions, including the KinderWorld International Kindergarten (KIK), the Singapore International School (SIS), and the Vietnam-Singapore International School (SVIS).
KinderWorld’s School System in Vietnam
KinderWorld
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