Quang Ninh Electrical Engineering: The secretive “big man” has “golden hands” in the bidding village

Quang Ninh Mechanical and Electrical Joint Stock Company participated in 120 bidding packages, of which 70 won with a total winning value of more than 2,419 billion VND…

PORTRAIT OF THE “BIG MAN” QUANG NINH ELECTRICAL MECHANICAL

Quang Ninh Mechanical and Electrical Joint Stock Company (Quang Ninh Electrical and Mechanical) was established on July 7, 2011 and is located at 41 Phu Doan, Hang Trong Ward, Hoan Kiem District, Hanoi City. The company’s initial charter capital was 2 billion VND, but according to business registration changes in November 2019, this number increased to 10 billion VND.

Currently, Mr. Le Van Huy is holding the position of Director and legal representative of the company. Mr. Huy was born in 1975 and is living at the company’s address, which is 41 Phu Doan.

The main industry of Quang Ninh Electrical Engineering is trading machinery, equipment and other machine spare parts. In addition, the company also expanded to include construction works, electrical equipment repair, installation of industrial machinery and equipment, coal mining and collection…

Although his business is very prosperous, winning hundreds of bidding packages worth thousands of billions of VND, Mr. Huy and Quang Ninh Electrical Engineering are extremely tight-lipped. It will be difficult to find a picture of Mr. Huy in the media, if there is any, it will only be on this businessman’s private personal page.

Or only people in the business world with Mr. Huy or business people in Quang Ninh province know who Mr. Huy is and how strong he is among the bidding parties at Vietnam Coal and Mineral Industry Group.

Especially recently, in March 2024, Quang Ninh Electrical Engineering won a bidding package from the branch of Vietnam Coal and Mineral Industry Group – Mao Khe Coal Company, with a value of up to 865.8 billion VND. .

This is package number 76: Supply, construction and installation of main well tower, auxiliary wells, main well shaft winch house, auxiliary wells, main well shaft loading shaft system, auxiliary wells and control signal and information equipment contact. With the project name “Underground mining below level -150 Mao Khe mine“.

GOLDEN HANDS IN THE VILLAGE WON THE BID

According to the Merchant’s research, Quang Ninh Mechanical and Electrical Joint Stock Company has participated in 120 bidding packages, of which 70 won, 31 failed, 14 have no results and 5 were canceled. The total winning bid value is more than 2,419 billion VND. The average ratio of winning price to estimated price is up to 96.42%.

This company has fought with 91 contractors in 75 bidding packages, won 30 packages, lost 26 packages, 16 packages have no results, 3 packages have been canceled. At the same time, Quang Ninh Electrical Engineering had a joint venture with 34 contractors in 75 bidding packages, won 30 packages, lost 26 packages, 16 packages had no results, 3 packages were canceled.

Worth mentioning, in Quang Ninh province alone, Quang Ninh Electrical Engineering has participated in bidding for 89/120 packages, of which, mainly the bidding packages of Vietnam Coal and Mineral Industry Group. This is also the unit where tycoon Le Van Huy’s business won the most bids, with a total value of up to trillions of dong.

In addition, looking from the perspective of this enterprise’s bidding history, it can be seen that before Circular 11/2019/TT-BKHDT on online bidding officially took effect from February 1, 2020, the Company Quang Ninh Mechanical and Electrical Joint Stock always “wins every time”, has never missed a bid.

Specifically, in the period 2017-2019, the company participated in 13 bidding packages and won all 13 packages. But from 2020 onwards, Quang Ninh Electrical Engineering has just begun to show signs of missed bids.

In there, 2020, Quang Ninh Electrical Engineering participated in 22 bidding packages and only won 14 packages. The total value of these bidding packages is up to nearly 500 billion VND. In addition to winning packages from the Vietnam Coal and Mineral Industry Group, this business also won two packages from MobiFone Telecommunications Corporation and the Management Board of the Dynamic Urban Integrated Development Project of Thai Nguyen City. 2 bidding packages.

2021, Quang Ninh Electrical Engineering also won 17 bidding packages, with a total value of more than 226 billion VND. In these 17 bidding packages, Quang Ninh Electrical Engineering and joint venture companies won all packages of member companies and joint stock companies of Vietnam Coal and Mineral Industry Group and Vietnam Industry Group – Military Telecommunications.

Nyear 2022, Quang Ninh Mechanical and Electrical Joint Stock Company participated in 24 bidding packages and won 17 packages. In most of the bidding packages that Quang Ninh Electrical Engineering participates in, this company is “alone”.

2023 It was an unfavorable year for Quang Ninh Electrical Engineering when this enterprise participated in 21 bidding packages, but only won 7 packages and missed 13 packages.

However, to year 2024, Quang Ninh Electrical Engineering quickly regained its “form”. Accordingly, just after the first 3 months of the year, Quang Ninh Mechanical and Electrical Joint Stock Company won 3 bidding packages, including 2 packages from Dong Bac Corporation and 1 package from a branch of Vietnam Coal and Mineral Industry Group. Nam – Mao Khe Coal Company. All three packages have a total value of nearly 900 billion VND.

AND THE “MORTGAGE” GAME

Notably, it is unclear whether or not the charter capital of Quang Ninh Electrical Engineering is only 10 billion, but almost all bidding packages of this enterprise are mortgaged to banks immediately after the winning results are announced. contractor.

Military Commercial Joint Stock Bank (MB Bank) and Tien Phong Commercial Joint Stock Bank (TPBank) are always the two banks prioritized and selected by Quang Ninh Electrical Engineering to borrow capital.

For example, in February 2023, Quang Ninh Electrical Engineering won the bidding package “Package No. 11: Supply of mine blasting machines and auxiliary equipment in the pit”. This is a bidding package under the project “Plan for selecting contractors for the Investment project for production in 2022 – Uong Bi Coal Company”. The joint venture contractor Tung Lam Import-Export Trading Joint Stock Company with Quang Ninh Mechanical and Electrical Joint Stock Company won the price of 3,515,700,000 VND.

But just a few days after winning the bid, Quang Ninh Electrical Engineering mortgaged it “Debt collection rights arising from Contract No. 06/HD-XDCB dated February 13, 2023 (and attached appendices, if any) between Branch of Vietnam Coal and Mineral Industry Group – Uong Bi Coal Company – TKV and Joint Venture Contractor Tung Lam Import-Export Trading Joint Stock Company and Quang Ninh Mechanical and Electrical Joint Stock Company (in which Quang Ninh Mechanical and Electrical Joint Stock Company is a joint venture member)” to borrow a loan at MB Bank Transaction Office Branch 1.

Or in September 2022, Quang Ninh Electrical Engineering won “Tender package No. 8: Procurement of circulating cooling water supply system for cooling equipment for MK 300 cooling system and centralized water tank”. This is a bidding package at the project “Investment for production in 2022 – Ha Lam Coal Joint Stock Company – Vinacomin” of Ha Lam Coal Joint Stock Company. This package costs 4,970 billion VND.

Also this September, Quang Ninh Electromechanics mortgaged “Debt collection rights arising from Contract No. 704/HD-HLC dated September 12, 2022 between Quang Ninh Electromechanics Joint Stock Company and Coal Joint Stock Company Ha Lam – Vinacomin and attached Appendices (if any)” for MB Bank Branch of Transaction Office 1.

And yet, then, in December 2022, Quang Ninh Electrical Engineering won a bid of more than 57 billion VND from Ha Lam Vinacomin Coal Joint Stock Company. This is “Package No. 1: Supply and installation of vertical well loading shaft safety system”.

And on December 26, 2022, Quang Ninh Electromechanical Joint Stock Company mortgaged “Debt collection rights arising from Contract No. 979/HD-HLC dated December 22, 2022 signed between Quang Ninh Electromechanical Joint Stock Company and Ha Lam – Vinacomin Coal Joint Stock Company (and attached appendices, if any)” to borrow a loan at MB Bank Transaction Office Branch 1.

It is known that this form of mortgage is continuous and continues even in previous years…