Mr. Dang Thanh Tam's company suddenly withdrew capital from Hung Vuong University after only 4 months.

Kinh Bac invested 110 billion VND in Hung Vuong University, Ho Chi Minh City (DHV) since May this year, thereby holding 51.79% of the capital. However, after just over 4 months, the company said that DHV is no longer a subsidiary.

Hung Vuong University's headquarters on Nguyen Trai Street, Ho Chi Minh City - Photo: NHU HUNG

Kinh Bac Urban Development Corporation (KBC) has just announced unusual information that Hung Vuong University, Ho Chi Minh City (DHV) is no longer a subsidiary.

Specifically, the board of directors of this enterprise has approved the transfer of capital contribution at DHV. After withdrawing capital, KBC no longer has control over the school.

Previously, in mid-May, Kinh Bac announced that it had become the parent company of Hung Vuong University, Ho Chi Minh City, after contributing an additional VND110 billion to own 51.79% of the charter capital.

On the website, Hung Vuong University introduces itself as being established in 1995, one of the first non-public universities in Vietnam and having 4 educational facilities in Ho Chi Minh City.

In contrast to the divestment activities at the university, in early September this year, Kinh Bac announced its capital contribution to establish Kinh Bac - Dong Thap Urban Development Joint Stock Company.

Kinh Bac - Dong Thap has a charter capital of 1,500 billion VND, of which KBC contributes 1,350 billion VND, equivalent to 90% of capital.

According to the new establishment registration certificate, Kinh Bac - Dong Thap operates mainly in the field of real estate business, land use rights owned, used or rented.

The company's headquarters is located in Dao Thanh ward, Dong Thap province. The legal representative and general director is Mr. Phan Minh Toan Thu (born in 1977).

Regarding business results, in the first 6 months of the year, KBC, chaired by Mr. Dang Thanh Tam, recorded revenue of more than VND 3,691 billion, an increase of more than 3.5 times over the same period and completing 37% of the yearly plan. Profit after tax reached about VND 1,251 billion, an increase of nearly 6.5 times over the same period in 2024 and completing 39% of the yearly target.

On the stock market, Kinh Bac's KBC shares closed the last session of September at VND36,100/unit, corresponding to a capitalization of VND33,997 billion.

LINH NGUYEN

Source: https://tuoitre.vn/cong-ty-ong-dang-thanh-tam-bat-ngo-thoai-von-khoi-dai-hoc-hung-vuong-chi-sau-4-thang-2025093019531809.htm