Phat Dat and Phu My Hung said they have no connection to Vinafood II at Ben Van Don land.

Recently, the Ministry of Public Security's Investigation Police Agency has requested to temporarily suspend transactions related to the land plot at 132 Ben Van Don (Ward 6, District 4, Ho Chi Minh City). This information has caused confusion among many people, especially thousands of residents of Millennium - an apartment project built on the land plot.

As two companies appearing in the project transfer process, Phat Dat Real Estate Investment Joint Stock Company (Phat Dat Corporation, HoSE: PDR) and Phu My Hung Investment Joint Stock Company (Phu My Hung Company) have been continuously "named" in recent days.

The project is built on a land area with the commercial name Millennium Apartment Complex, started construction in 2016 and has now been handed over to customers.

Regarding this information, Mr. Bui Quang Anh Vu, General Director of Phat Dat Corporation, said that the company previously contributed capital, bought back projects at market prices, and developed apartments in accordance with legal regulations.

The request by the Ministry of Public Security's investigation police agency to temporarily suspend the handling of land use rights conversion, transfer, lease, and mortgage will affect the process of granting certificates to customers. At the same time, it will cause confusion and loss of confidence among people in investors and competent state agencies.

Mr. Vu also affirmed that Vinafood II's previous divestment was not related to Phat Dat.

Therefore, the company recommends that the authorities quickly draw up the investigation conclusion and that the Ho Chi Minh City People's Committee provide specific guidance on issues related to the conversion, transfer, lease, mortgage of land use rights... at the project and issue certificates to ensure the legitimate rights of the people.

On Phu My Hung's side, the company said that it is the investor of the project at 132 Ben Van Don on the basis of merging into Vinh Hoi Development Investment Joint Stock Company.

Phu My Hung Company received the transfer of shares from Nguyen Kim Investment and Joint Stock Company, along with other individuals according to the transfer contract in 2015, so it is not related to the Southern Food Corporation (Vinafood II). Phu My Hung Company does not directly work with Vinafood II.

The land has a prime location with 2 large frontages, away from District 1 and Ben Nghe canal.

Based on the legal basis, Phu My Hung Company affirms that the company sells the project's products and hands over apartments to customers in accordance with the law. The company has fully complied with the legal regulations on investment, construction, business and has confirmation documents from competent state agencies.

" The company did not violate the law during the project implementation at the 132 Ben Van Don land plot. During the project implementation at 132 Ben Van Don, the company was not related to individuals or leaders of Vinafood II Company and Vinafood II Company ," Phu My Hung Company informed.

The Ministry of Public Security's Investigation Police Agency has decided to prosecute the case, prosecute the accused, temporarily detain and search 3 individuals for the crime of violating regulations on management and use of State assets causing loss and waste at the Southern Food Corporation (Vinafood II) and a number of related units.
Police determined that three former leaders of Vinafood II violated the law in managing and using the land at 132 Ben Van Don, causing especially serious damage to the State.
Previously, the State Audit determined that this land was originally owned by Vinafood II. This enterprise then assigned Nguyen Kim Investment and Development Joint Stock Company as a joint venture partner in the project. However, this plan was not implemented by Vinafood II but transferred to another investor, Phat Dat.

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