Evaporating 86% of charter capital, how is Ngan Luong - the 'wallet' of Shark Binh's ecosystem doing business?

Ngan Luong is among the group of businesses with the best business results in Shark Nguyen Hoa Binh's ecosystem, although revenue and profit have shown signs of decline in recent years.

Shark Binh (center) has been prosecuted for fraud and violation of accounting regulations causing serious consequences - Photo: CAHN

Tracing the money flow in Shark Binh's ecosystem

The leader of Hanoi City Police recently said that the Ngan Luong payment gateway is one of the payment gateways in the ecosystem of defendant Nguyen Hoa Binh (Shark Binh).

Authorities confirmed that they are clarifying many activities related to the money transfer of the Ngan Luong Payment Gateway as well as other financial activities, not only related to the virtual currency case.

Data from the Hanoi Business Registration Office shows that Ngan Luong Payment Gateway Joint Stock Company (Ngan Luong) was established in 2012, located at the same headquarters as NextTech Group in Tam Trinh - Hanoi.

This enterprise is the direct operator of NganLuong.vn - the first e-wallet and online payment gateway in Vietnam licensed to operate in the field of online payment.

According to the website introduction, NganLuong.vn has built a direct network with nearly 40 domestic and international financial and telecommunications organizations. At the same time, this unit owns millions of users, hundreds of thousands of active wallet accounts and transaction traffic accounts for more than 50% of the market share.

At an event held at the end of September, NAPAS honored Ngan Luong with the gold prize in the category "Leading Member in E-Commerce Volume 2025" - Leading in online payment transaction value.

In addition to the awards, in its history of operations, Ngan Luong was also named in the Rikvip case. In this case, the authorities pointed out that in order for gamblers to deposit money to gamble, the organizers of the network used the legal entities they established to cooperate with intermediary payment gateways, including Ngan Luong, so that gamblers could use telecommunications scratch cards, game cards to deposit money into card games...

Overall, in the diverse ecosystem that Shark Binh built - spanning from e-commerce, fintech to educational technology - NganLuong.vn is the core brand and has the most notable coverage.

Revealing capital fluctuations and business situation of Ngan Luong

Ngan Luong is chaired by Shark Binh as Chairman of the Board of Directors (BOD). Mr. Binh used to be the legal representative of this enterprise, then this position was transferred to General Director Dinh Hong Quan (born in 1988) since 2019.

This corporate profile shows many fluctuations in shareholder structure and capital contribution value.

Specifically, at the end of 2018, Ngan Luong recorded a charter capital of more than VND 52.7 billion. The foreign shareholder structure changed 50% of the capital contribution from Mol Accessport Al SDN.BHD (Malaysia) to Nganluong Holdings Limited (Seychelles - a country in Africa). By June 2020, this foreign shareholder suddenly withdrew capital after nearly 2 years.

By May 2022, Ngan Luong suddenly increased its capital from 52.7 billion VND to 280 billion VND, the structure of shareholders contributing capital was not announced.

After only 1 month, the company continued to increase its capital to nearly 370 billion VND. Surprisingly, in January 2024, the company reduced its capital to 52.7 billion VND as before, corresponding to a decrease of nearly 86% of its capital.

According to Tuoi Tre , Ngan Luong is still in the group of businesses with the best business results in Shark Nguyen Hoa Binh's ecosystem, although revenue and profit have shown signs of decline in recent years.

Specifically, in 2023, Ngan Luong's revenue reached more than 500 billion VND, down from nearly 600 billion VND the previous year. Profit after tax reached nearly 100 billion VND, only slightly down compared to the same period.

Previously, Ngan Luong was considered the "golden goose" in the NextTech ecosystem when the media mentioned that in the period 2016 - 2018, it recorded revenue of up to thousands of billions of VND.

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Source: https://tuoitre.vn/boc-hoi-86-von-dieu-le-ngan-luong-chiec-vi-he-sinh-thai-shark-binh-kinh-doanh-ra-sao-20251016174036177.htm