Phat Dat Real Estate's account is no longer frozen due to tax debt

(Dan Tri) - Ho Chi Minh City Tax Department has issued a Decision to terminate the enforcement of administrative decisions on tax management against Phat Dat.

On September 26, Ho Chi Minh City Tax Department decided to terminate the enforcement of administrative decisions on tax management by withdrawing money from the account and freezing the account of Phat Dat Real Estate Development JSC (stock code: PDR).

The above Decision is to terminate the validity of Decision dated September 24, 2025 of Ho Chi Minh City Tax Department on enforcing the administrative decision on tax management against Phat Dat.

Previously, on September 16 and 17, Gia Lai Province's Base Tax 2 and Base Tax 1 also made decisions on enforcing administrative decisions on tax management against Phat Dat.

On the company's website, Phat Dat announced the following: On September 24, the Company received Decision No. 10494/QD-HCM-KDT dated September 24 of the Ho Chi Minh City Tax Department on the enforcement of administrative decisions on tax management. On the same day, the Company corrected and paid the entire amount to the state budget.

Phat Dat recently attracted attention with the large volume transactions of the Chairman of the Board of Directors.

Specifically, Mr. Nguyen Van Dat - Chairman of the Board of Directors - has just sold 88 million PDR shares. After the transaction, the number of shares owned by Mr. Dat decreased from 359.8 million units (36.7% of capital) to 271.8 million units (27.7% of capital), still being the largest shareholder of the Company.

The transaction was conducted by negotiation method in the period from September 5 to September 18. During this period, PDR shares had a trading volume of 88.4 million units, with a total value of about VND 2,121 billion. It is estimated that Mr. Dat earned over VND 2,100 billion from the above transaction.

PDR stock trading (Photo: VNDStock).

How is Phat Dat's business?

Regarding business, according to the consolidated financial report for the second quarter of 2025, Phat Dat recorded net revenue of VND 20 billion, of which nearly VND 12 billion in revenue came from real estate transfers.

After deducting the cost of goods sold, Phat Dat's gross profit for the period was just under VND5 billion. Thanks to increased financial revenue, mainly from the transfer of capital contributions, Phat Dat recorded a profit after tax of nearly VND65 billion, up 31% over the same period.

Accumulated in the first 6 months of 2025, Phat Dat recorded net revenue of more than 457 billion VND, an increase of about 168% over the same period in 2024. Profit after tax reached nearly 116 billion VND, an increase of 13%.

Compared with the annual after-tax profit plan of 728 billion VND, the company has only completed nearly 16% of the set target.

As of June 30, 2025, Phat Dat's total consolidated assets were nearly VND 24,300 billion, with inventories still accounting for the largest proportion, at more than VND 14,100 billion. Phat Dat's total liabilities were nearly VND 12,400 billion.

Source: https://dantri.com.vn/kinh-doanh/bat-dong-san-phat-dat-het-bi-phong-toa-tai-khoan-do-no-thue-20251004181441729.htm