Famous “tycoon” Nguyen Khoa Hoc, who took over the 783 billion residential area in Ha Nam

Recently, the Department of Planning and Investment of Ha Nam province announced a list of investors that meet the preliminary requirements for capacity and experience in implementing the investment project to build a new residential area combined with urban embellishment in Ho Chi Minh City. Bach Thuong ward, Duy Tien town.

Accordingly, Korea Ha Nam Construction Investment Company Limited (Korea Ha Nam Company) is the investor who passed this pre-qualification screen, like stepping into the project. This is not a surprising result, because Korea Ha Nam Company was already the only investor to submit a registration application for the project.

It is known that the investment project to build a new residential area combined with urban embellishment in Bach Thuong ward, Duy Tien town has an area of ​​21.08 hectares, preliminary total investment cost is over 783 billion VND (including expenses). resettlement support fee). The project is expected to accommodate nearly 2,100 people. The schedule for completing and putting the project into operation is no later than December 31, 2029.

Ready to be the investor of an important project for the province’s development in the near future, information about Korea Ha Nam Company is attracting a lot of attention. However, some documents accessed by Industry and Trade Newspaper are causing certain concerns about the capacity and experience of this investor.

“Molting”

Records show that Korea Ha Nam Construction Investment Company Limited, formerly Artsy Consulting Company Limited, was established on October 25, 2018 in Hai Ba Trung district, Hanoi city. The enterprise registered to operate in the field of architecture and technical consulting (industry code 7110), with a modest charter capital of 2 billion VND.

Founding shareholders of Artsy Consulting Co., Ltd. include two natural persons: Mr. Nguyen Minh Tri (born 1986) – contributed 1.5 billion VND, equivalent to 75% of charter capital and Mr. Do Trung Dung (born 1987) – contributed 500 million remaining. Up to now, Mr. Do Trung Dung continues to run two consulting, design and service providing companies: TDA Vietnam Construction Design Consulting Company Limited and TDA Vietnam Trading and Services Joint Stock Company. Male.

On December 13, 2021, Artsy Consulting Co., Ltd. had a big turning point from a company specializing in design consulting to doing technical construction (industry code 4299), which was the first direction when Mr. Ta Quang Manh (born 1987) officially took over the role of Director, becoming the new boss of the business. This businessman, born in 1987, is known to be living in Ha Nam.

Half a month later, Artsy Consulting Company Limited changed its name to Korea Ha Nam Construction Investment Company Limited, and increased its charter capital to 15 billion VND. The headquarters was then relocated to Hoa Mac ward, Duy Tien town, Ha Nam province.

At the end of November 2022, Korea Ha Nam Company once again changed the position of Chairman of the Board of Members and Director to Mr. Nguyen Khoa Hoc (born 1987), who resides in Kim Dong district, Hung Yen province. Accordingly, the enterprise’s charter capital suddenly increased 8 times, reaching 115 billion VND and increased further to 168.5 billion VND by mid-March 2023.

Thus, in less than 6 years, Korea Ha Nam Company has changed its name once and its leadership role three times, meaning a lack of stability and fluctuations in business development activities. According to documents from the Industry and Trade Newspaper, from its establishment until the end of 2021, the business did not generate 1 dong of revenue, reporting a loss of several million dong each year as operating maintenance costs.

Therefore, if compared with the preliminary assessment request of the Ha Nam provincial government for the investment project to build a new residential area combined with urban embellishment in Bach Thuong ward, Duy Tien town, it is possible that the Korea Ha Nam Company has met the equity requirement of over 117,451 billion VND.

The experience factor is different, needing to participate in at least 1 project in the urban sector with a total investment of at least 278.13 – 391.503 billion VND (depending on type) is a challenge that is not easy to conquer for the Company. Korea Ha Nam. They just really “transformed” more than a year ago, as analyzed above. That causes a lot of concern among the concerned public.

Are expectations too great?

Korea Ha Nam Company is like that, now all the expectations of interested people must focus on the “captain” – Mr. Nguyen Khoa Hoc, Chairman of the Board of Members and Director. Assuming Korea Ha Nam Company wins the bid for a key urban area project worth nearly 800 billion VND in the coming time, the quality of investment in construction of this residential area depends greatly on intelligence, operational ability and responsibility. Responsibility of Mr. Nguyen Khoa Hoc.

As a vital factor in the business, the Chairman of the Board of Members and Director is like the “leader” who makes accurate strategic decisions and steers the ship in the right direction to the shore of success. In addition, it is necessary to build a team of strong and talented staff to help the organization operate smoothly, effectively and cohesively.

The responsibility of the community is great, however, the past story shows that: Mr. Nguyen Khoa Hoc is not very proficient in management and operations, working at Korea Ha Nam Company is the first opportunity for him to try his hand at work. Completely new taste. “Giant” Nguyen Khoa Hoc was previously only an ordinary employee and had not had time to rise to a higher position despite his contributions to Viet Phat Construction and Trading Services Co., Ltd. (abbreviated as Viet Phat Company). ) a long enough period of time.

Viet Phat Company’s headquarters is located in Duy Tien town, Ha Nam province. (Photo: Internet)

Coincidentally, also in Duy Tien town, this “giant” of construction and real estate in Ha Nam province once “teased” to build an urban housing project in Bach Thuong ward, 44.6 hectares wide with a total cost of Investment of 1,144 billion VND. When the Department of Planning and Investment of Ha Nam province announced to find an owner for the project in the second quarter of 2022, only Viet Phat Company was recorded as a registered investor, leading to favorable winning results due to don’t face any competition.

Notably, in September 2023, when Viet Phat Company had won the project for a while and had not yet begun any construction on the assigned land, the Provincial People’s Committee suddenly issued a decision to end the policy. Investing in the urban housing project in Bach Thuong ward (approved for investment by the Provincial People’s Committee on April 1, 2022).

The reason is that the investor, Viet Phat Company, decided to terminate project operations according to previous regulations. It’s easy to see that the “collapse” of a project worth over VND 1,140 billion is something neither businesses nor authorities want, it affects the reputation of both investors and agencies in charge by not doing their job well. function, accidentally choosing an unsuitable partner.

There is a view that that is also the reason that urged “tycoon” Nguyen Khoa Hoc to overcome all barriers and challenges, enthusiastically stand up and apply to redo the large project still in the area of ​​Bach Thuong ward, Ha Nam province. This is a useful way to regain the reputation and trust of the old company and also to avoid scandals in public opinion!? Although this scenario is difficult, it cannot be ruled out as a possibility.

The story of “changing life” from a small local contractor with an address in Duy Tien town, thanks to receiving certain favors on “home turf” has grown to become a “giant” in construction and real estate. In the Northern region, Viet Phat Company’s capital increased from a few billion to hundreds of billions of Dong in a few short years, which is strange.

Industry and Trade Newspaper will continue to provide information in the following article.