Kon Tum authorities have revoked their approval for FLC Group to conduct surveys for two projects on a total 820 hectares in the Central Highlands province, one in high-tech agriculture and one in real estate.
A decision by the provincial People's Committee said the survey deadline has expired, but FLG Group has yet to finish project preparation and related procedures.
The FAM- Kon Tum high-tech agriculture project was surveyed over 155 hectares in Dak Long commune, Kon Plong district. The process was carried out by a FLC subsidiary, FAM Agricultural Products Import-Export and Production JSC.
The FLC Mang Den complex project comprising a golf course, a resort, entertainment facilities, and an urban area, was explored on an area of 667 hectares in Mang Den village, Dak Long commune.
In Kon Tum, FLC is implementing a complex project of commerce, entertainment services, and townhouses in Truong Chinh ward, and preparing investments in seven others in Kon Plong and Tu Mo Rong districts.
These include a sports and eco-urban tourism resort in Dak Ro Wa commune; a complex of hotels, shopping and service facilities in Thong Nhat ward; an eco-urban tourist area associated with a park in Dak Cam commune; and expansion projects of Dak Bla urban area, Dak Bla riverside entertainment urban area, and Dak Bla riverside resort and urban area in Dak Ro Wa commune.
Other projects consist of a concentrated processing and growing zone of Ngoc Linh ginseng and other medicinal herbs in Tu Mo Rong district.
The Ministry of Public Security's investigative agency on March 28 arrested former FLC Group chairman Trinh Van Quyet for stock market manipulation. Several days later, some of his family members and other related people were detained for investigation.
FLC Group later announced the appointment of Dang Tat Thang as its new chairman starting March 31.
The ministry in April requested localities across the country to freeze all assets and shares owned by Quyet.