In the financial statements, NVL announced that on April 1, 2024, it transferred its entire capital contribution in Huynh Gia Huy for approximately VND 1.9 billion. This transfer price excludes the value of utility assets and outstanding liabilities.
However, due to the difference between the total transfer value and the book value, NVL had to recognize a loss of more than VND 797 billion from this divestment.
Huynh Gia Huy Joint Stock Company was established in June 2005, headquartered on Huynh Thuc Khang Street, Phan Thiet City, Binh Thuan Province. As of the end of 2023, the Company had a charter capital of VND 725 billion, of which NVL held 99.98%.
Huynh Gia Huy is known as the investor of NovaHills Mui Ne (Phan Thiet) project with an area of 399,310m2. The products include 603 villas, which were handed over in Q1/2022. Huynh Gia Huy’s revenue in 2023 was meager, with only VND 8 billion, while in 2022, it recorded VND 638 billion, and in 2021, it reached VND 4,803 billion.
NVL transfers Huynh Gia Huy to EVG?
According to our information, on March 25, 2024, not long before the deal took place, Huynh Gia Huy added one legal representative, Mr. Le Dinh Tuan (born in 1978), as Chairman of the Board, alongside General Director Nguyen Nhu Xuan Trang. Ms. Trang is currently the General Director of Nova Service Corporation.
Mr. Le Dinh Tuan
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As of May 16, Huynh Gia Huy had only one legal representative, Mr. Tuan. Tax information was changed from 65 Nguyen Du, District 1 (Ho Chi Minh City) to 47-49 Truong Dinh, District 3.
Mr. Tuan holds a Bachelor’s degree in Finance and Accounting and is currently a member of the Board of Directors and Deputy General Director of EverLand Group Joint Stock Company (HOSE: EVG). Mr. Tuan’s elder brother, Mr. Le Dinh Vinh, is the Chairman of the Board of EVG. Mr. Tuan owns more than 6.5 million shares, equivalent to a ratio of 3.03% of EVG.
The new tax address of Huynh Gia Huy is also the address of EVG‘s branch in Ho Chi Minh City.
EVG, headquartered in Hanoi, is a real estate company with investment projects mostly in the resort sector, including: 3 projects under the Crystal Holidays brand (Harbour Van Don, Heritage Ly Son, and Marina Phu Yen); Commercial, Service and Tourism Complex and Xuan Dai Bay Resort; Everland Park; and Flower World Sa Dec Urban and Tourism Complex.
In addition to EVG and Huynh Gia Huy, Mr. Tuan is also the General Director of three other companies, namely CRH International Investment and Service Joint Stock Company, Anh Thu Development Investment Joint Stock Company, and Asia DCP Joint Stock Company.
