Supervision tightened to safeguard corporate bond buyers' interests: finance minister
Corporate issuers have pledged they would pay bondholders their due when their bonds mature, Finance Minister Ho Duc Phoc said Monday.
Vietnam's Finance Minister Ho Duc Phoc. Photo courtesy of the government's portal.
Phoc gave this assurance in the wake of corporate bondholders' concerns about their investment after police arrested Truong My Lan, chairwoman of Ho Chi Minh City-based property developer Van Thinh Phat Group, for alleged fraud in the issuance and trading of corporate bonds in 2018 and 2019.
In April, Do Anh Dung, chairman of property developer Tan Hoang Minh Group, was also arrested for alleged fraudulent appropriation of property via corporate bond issuances.
The finance minister told local media that his ministry has met with corporate bond issuers and asked them to ensure investors’ interests.
"They have all committed to paying bond buyers in time. We are closely monitoring the situation to protect investors’ interests," he said.
Many people who have bought bonds associated with Van Thinh Phat Group and its subsidiary An Dong Investment Co. are worried that they would not get paid due to the alleged scam.
According to Hanoi Stock Exchange statistics, An Dong Investment Co. issued three lots of five-year bonds worth VND25,000 billion ($1.08 billion) in the 2018-2019 period that will mature between 2023 and 2024.
An office of Tan Viet Securities JSC on Tran Thai Tong street in Hanoi. Photo by The Investor/Nhat Huynh.
HCMC-based Tan Viet Securities JSC (TVSI) is one of the issuance consulting units for Van Thinh Phat, and it also represents the bondholders.
TVSI stated Sunday that it was working with the issuer to work out plans to ensure payment for the buyers, both the original investment and interest, both before and on maturity.
Starting Monday, October 10, the broker stopped accepting corporate bonds issued by An Dong Investment Co. TVSI and the issuing units will meet online or in person with investors to let them know specific payment plans, the firm said.
News of the sudden death of Nguyen Tien Thanh, chairman and CEO of Tan Viet Securities, on Friday triggered market concerns. Thanh, 49, was also an independent board member of Saigon Commercial Bank (SBC). Rumors were also rife about Thanh’s relations with Van Thinh Phat Group.
- Related News
- Read More
FedEx forms strategic tie-up with Viettel Post in push for Vietnam expansion
FedEx Express and Viettel Post, an arm of Vietnam's military-run telecom giant Viettel, have announced a strategic partnership with a view to strengthening nationwide delivery capabilities and enhance cross-border logistics connectivity.
Companies - Wed, May 6, 2026 | 5:16 pm GMT+7
Van Phu Invest, T&T Group exit Hanoi’s $27 bln Red River megaproject consortium
Two more developers, Van Phu Invest and T&T Group, have withdrawn from the investor consortium for Hanoi’s Red River Scenic Boulevard project, leaving a three-member group to pursue the plan.
Real Estate - Wed, May 6, 2026 | 3:10 pm GMT+7
Gemadept eyes integrated maritime group expansion
Gemadept is shifting strategy toward becoming an integrated maritime logistics group, as the company embarks on a new expansion cycle focused on shipping and inland waterway transport.
Companies - Wed, May 6, 2026 | 2:39 pm GMT+7
Five notable trends in Vietnam’s industrial real estate
FDI inflows remain central to driving demand for industrial real estate. However, the trend is shifting - from a focus on processing and assembly toward high-tech manufacturing, research and development, writes Phung Xuan Minh, chairman of Saigon Ratings.
Industrial real estate - Wed, May 6, 2026 | 12:45 pm GMT+7
Middle East revenue share limited, impact manageable: top seafood exporter Vinh Hoan
Vinh Hoan Corporation's revenue exposure to the Middle East remains limited, helping shield the company from geopolitical tensions in the region, said its chairwoman Truong Le Khanh.
Companies - Wed, May 6, 2026 | 11:11 am GMT+7
Banks should cut lending rates to lowest possible level: Deputy PM
Vietnam’s Deputy Prime Minister Nguyen Van Thang has called for lending rates to be reduced to the lowest possible level, with a focus on priority sectors to better support businesses and economic growth.
Banking - Wed, May 6, 2026 | 8:50 am GMT+7
Japan’s Nishi-Nippon Railroad plans to build 22,000 homes in Vietnam by 2035
Japan’s Nishi-Nippon Railroad, widely known as Nishitetsu, plans to develop 22,000 housing units in Vietnam by 2035 via a partnership with local developer Nam Long Investment Corporation (HoSE: NLG).
Real Estate - Tue, May 5, 2026 | 9:49 pm GMT+7
Vietnam's tech unicorn VNG books record quarterly profit since 2022 listing
Vietnam’s tech unicorn VNG (UPCoM: VNZ) reported its highest quarterly profit since going public in 2022, as growth across core business segments and tighter cost controls lifted earnings in Q1/2026.
Companies - Tue, May 5, 2026 | 4:01 pm GMT+7
Dragon Capital Vietnam posts best quarterly profit in 3 years
Dragon Capital Vietnam (UPCoM: DCV) reported its strongest quarterly earnings in three years, driven by robust growth in investment advisory and asset management activities.
Companies - Tue, May 5, 2026 | 3:44 pm GMT+7
Petrolimex profit confusion rattles investors amid disclosure delay
Petrolimex, Vietnam's biggest gasoline retailer by market share, has come under scrutiny after delays and conflicting signals around its Q1/2026 earnings triggered sharp swings in its shares, highlighting risks for investors amid information gaps.
Companies - Tue, May 5, 2026 | 3:24 pm GMT+7
Intel shifts data center chip production line to Vietnam
Intel is relocating a production line for data center chips from Costa Rica to its Vietnam facility, reinforcing the Southeast Asian country’s role in the giant's global supply chain.
Industries - Tue, May 5, 2026 | 1:01 pm GMT+7
PVS Q1 profit rises 45%, warranty provisions surge
PetroVietnam Technical Services Corporation or PTSC (HNX: PVS), a subsidiary of state-owned Petrovietnam, reported a 45% increase in Q1 net profit for 2026, supported by the handover of several large projects, though a sharp rise in warranty provisions weighed on margin expansion.
Companies - Tue, May 5, 2026 | 11:42 am GMT+7
‘Vegetarian-fed pork’ brand owner BAF posts record quarterly profit
BAF Vietnam Agriculture JSC, known for its “vegetarian-fed pork” brand, reported a record net profit of VND206 billion ($7.82 million) in the first quarter of 2026, marking its highest quarterly earnings on record.
Companies - Tue, May 5, 2026 | 8:17 am GMT+7
Petrovietnam shipyard arm's pre-tax profit surges over 10-fold
Petrovietnam Marine Shipyard JSC (PV Shipyard), a subsidiary of state-owned giant Petrovietnam, reported a strong first quarter of 2026, with revenue rising sharply and pre-tax profit increasing more than 10-fold year-on-year.
Companies - Mon, May 4, 2026 | 3:49 pm GMT+7
Petrovietnam, Samsung Heavy Industries sign cooperation deal
Petrovietnam and Samsung Heavy Industries have signed an MoU to establish a cooperation framework in shipbuilding, energy industry, and related sectors.
Companies - Mon, May 4, 2026 | 2:11 pm GMT+7
Imprisoned entrepreneur, spouse hold over 6.3% stake in Vietnam private lender ACB
The combined stake held by imprisoned businessman Nguyen Duc Kien and his spouse in the Asia Commercial Bank (ACB) is valued at nearly VND7.62 trillion ($289.23 million), based on the ACB market price of VND23,500 ($0.89) per share last Wednesday.
Banking - Mon, May 4, 2026 | 1:10 pm GMT+7
