1/5 Hương N. 9 months ago on Google • 5 reviews
In
2018,
Bitexco
Group
Co.,
Ltd
(Bitexco
Group)
established
a
subsidiary,
Saigon
Glory
Co.,
Ltd.
with
registered
capital
of
VND
7
trillion.
The
Chairman
of
the
Board
of
Directors
of
Saigon
Glory
is
Mr.
Vu
Quang
Bao.
Mr.
Vu
Quang
Bao,
born
in
1970,
is
also
the
General
Director
and
the
main
shareholder
of
Bitexco
Group
Company
Limited
(Bitexco
Group);
Chairman
of
the
Board
of
Directors
and
founding
shareholder
of
BB
Group,
BB
Power
Holdings,
with
his
brother,
the
Chairman
of
Bitexco
Group
-
Mr.
Vu
Quang
Hoi.
After
its
establishment,
Saigon
Glory
is
the
investor
of
the
super
project
One
Central
Saigon.
In
2020,
Saigon
Glory
Co.,
Ltd.
issued
10
lots
of
bonds
with
lot
codes
from
SGL-2020.01
to
SGL-2020.10,
successfully
mobilizing
VND
10,000
billion.
In
August
2022,
Viva
Land
Development
and
Management
Joint
Stock
Company
(Viva
Land)
-
believed
to
be
related
to
Van
Thinh
Phat
Group
-
announced
to
become
the
management
unit
in
this
project
with
the
new
name
Pearl.
.
When
Ms.
Truong
My
Lan,
owner
of
Van
Thinh
Phat
Group,
was
arrested,
in
order
to
avoid
the
anxiety
of
bondholders,
as
well
as
to
avoid
"concern"
from
the
competent
authorities,
Saigon
Glory
Company
issued
a
notice
of
commitment
to
buy
back
all
these
bonds
before
maturity
for
VND
10,000
billion,
divided
into
2
phases.
However,
the
first
time
Saigon
Glory
committed
to
buy
back
when
possible,
but
not
later
than
June
12,
2023,
the
Company
failed
to
fulfill
the
commitment.
On
June
11,
2023,
a
conference
was
held
to
delay
the
obligation
to
make
bond
payments
to
owners
according
to
regulations,
with
extremely
unreasonable
and
unfavorable
extension
conditions
for
nearly
3,000
people
who
trusted
them.
,
buy
bonds,
give
them
capital
to
invest.
Specifically,
they
do
not
pay
principal
to
the
bondholder
even
though
the
bond
has
matured,
the
interest
to
maturity
only
pays
30%
of
the
total
interest
received
by
the
bondholder.
In
addition,
they
also
installed
a
provision
to
reduce
the
collateral
of
SGL
bonds
for
the
purpose
of
"escape
cicadas",
if
later
they
pay
the
bondholders,
the
value
of
money
will
also
decrease.
And
of
course
all
the
bondholders
were
very
angry
and
resolutely
disagreed
with
any
of
the
conditions
set
forth
by
SGL
at
the
aforementioned
conference.
Until
now,
Saigon
Glory
Co.,
Ltd.
continues
to
use
the
application
of
Requests
to
delay
and
avoid
payment
obligations
for
mature
bonds.
Thereby
showing
the
very
face
of
Saigon
Glory
Company,
or
the
President,
General
Director
and
main
shareholder
of
Bitexco
Group
Company
Limited
(Bitexco
Group)
is
Mr.
Vu
Quang
Bao:
1.
Violating
regulations
on
payment
conditions
of
bonds
issued
by
the
Company;
2.
Disrespect,
disrespect
for
investors,
unscrupulous
attitude
when
paying
debts;
3.
Being
an
organization
or
individual
with
no
credibility
or
trust;
To
your
company
about
the
truth
and
face
of
Saigon
Glory
Company,
Bitexco
Group
Company
Limited
(Bitexco
Group)
with
which
the
Company
has
been,
is
and
intends
to
associate
as
a
partner.
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