Discounting the Debt of a Company Linked to the Husband of Miss Hanoi, Ha Kieu Anh

Reducing Lac Viet’s Debt

The Bac Trung Nam Auction Joint Stock Company recently announced the fifth auction of bad debts of Lac Viet Joint Stock Company.

Specifically, the assets to be auctioned are the bad debts of Lac Viet Joint Stock Company at OceanBank – Saigon Branch, arising from several credit contracts and related annexes between OceanBank and Lac Viet.

According to the Future Asset Mortgage Contract and its annexes between OceanBank – Saigon Branch and Lac Viet, the secured assets include land use rights (land lease excluding land use right value) and the high-end Lac Viet tourism area, comprising: a 5-star hotel, a commercial center, and other architectural works at 159-163 Thuy Van, Thang Tam Ward, Vung Tau City, Ba Ria – Vung Tau Province. The land use right certificate was granted in April 2017, and the owner is Lac Viet JSC.

The formed architectural works include: Hotel and Entertainment Center; The Imperial Luxury Tourist Apartments.

Total debt obligations as of May 2, 2024, amounted to VND 579.4 billion, including VND 356.3 billion in principal and over VND 223.1 billion in interest and penalties.

The starting price is nearly VND 372 billion, a reduction of over VND 20 billion compared to the fourth auction announcement.

The auction method is to increase the price based on the debt dossier, with multiple rounds of direct voting at the auction.

The time and place of the auction are 10:00 on August 14, 2024, at Bac Trung Nam Auction Joint Stock Company (Ho Chi Minh City Branch)

Imperia Group’s “Ecosystem” of Businessman Huynh Trung Nam

Lac Viet Joint Stock Company was established in July 2003, with its head office located at 159-163 Thuy Van, Thang Tam Ward, Vung Tau City, Ba Ria – Vung Tau Province. Mr. Huynh Trung Nam (born in 1964) is the Chairman of the Board of Directors and legal representative of the company.

In May 2016, Lac Viet increased its charter capital from VND 150 billion to VND 181 billion; the shareholder structure was not disclosed. In May 2019, the company further increased its capital to VND 231.6 billion.

According to a registration change in March 2020, Ms. Vo Nguyen Phuong Trang (born in 1973) took on the role of Director, General Director, and legal representative of Lac Viet.

In the most recent registration change (May 2024), Mr. Pham The Tu (born in 1975) replaced Ms. Trang as General Director and legal representative of the company.

Apart from Lac Viet, Mr. Nam was also known as the Chairman of several companies, including Shifu Joint Stock Company and Toyota Vung Tau Joint Stock Company.

Shifu was established in late 2011 to develop the Shifu brand, including Shifu Fine Dining and Shifu Dimsum House. Toyota Vung Tau, on the other hand, is the official dealer of Toyota Vietnam in Vung Tau City, operating since 2010.

Businessman Huynh Trung Nam is also the General Director and legal representative of Imperial Joint Stock Company. The company was established in September 2010, with its head office located on the 12th floor of Petro Vietnam Tower, 1-5 Le Duan, Ben Nghe Ward, District 1, Ho Chi Minh City.

The Imperial brand is well-known for its high-end tourism complex, which includes a shopping mall, entertainment area, 5-star hotel, and luxury apartments – The Imperial Complex (Vung Tau) and The Imperial Suite Hanoi (Hanoi)

In 2015, Imperial mortgaged 1.56 million shares of Lac Viet to OceanBank.

Notably, businessman Huynh Trung Nam is also known as the husband of Ha Kieu Anh, Miss Vietnam 1992.

Recently, in addition to being a judge for several prominent beauty pageants, Miss Ha Kieu Anh has also been introduced as the brand ambassador for the Sen Vang Town project, alongside director Hoang Nhat Nam. This project is developed by Sen Vang Holdings, a member of the “Sen Vang” ecosystem of “beauty pageant tycoon” Pham Kim Dung.