Chairman of Quoc Cuong Gia Lai: Selling 32ha Phuoc Kien land is a policy from HCMC Party Committee.

Nguyen Thi Nhu Loan, Chairman of Quoc Cuong Gia Lai Joint Stock Company (HoSE: QCG), affirmed the policy of HCMC Party Committee for sale and purchase 32ha land in Phuoc Kien commune, Nha Be district.

As VietnamFinance has informed, on June 5, 2012, Tan Thuan Investment and Construction One Member Limited Company (100% owned by HCM City Party Committee) signed a contract to transfer 32ha of public land in Phuoc Kien Commune to Cong Quoc Cuong Gia Lai Joint Stock Company for VND419 billion (equivalent to VND1.29 million / sqm).

However, the land price in Phuoc Kien is VND 7.5 million / sqm. This means the sale of 32ha of land, Tan Thuan Company should have collected the State for VND2.4 trillion. Price difference in the deal reached nearly 2,000 billion.

After the information on the deal was announced, on 18/4, City Party Committee. Ho Chi Minh City has instructed Tan Thuan Company to cancel the purchase contract with Quoc Cuong Gia Lai. This move of the City Party Committee made QCG Quoc Cuong Gia Lai’s shares fell for the second day in a row.

Nguyen Thi Nhu Loan, Chairman Quoc Cuong Gia Lai Joint Stock Company

Speaking about the direction cancel the purchase contract of the City Party Committee. HCM, April 20, Nguyen Thi Nhu Loan – Chairman and CEO of Quoc Cuong Gia Lai Company, said that the 32ha land above is not public land.

“When you sell, you do not need to know who they are, just know that you have the goods I buy, because you are also a real estate business, then they are under their owners, they have to go. I do not care what they submit to the Commission, I also have a full invoice, also a good VAT, it is a commodity property, not a public asset. There is no bill issue, no matter not through the auction, everyone knows the law! No one close their eyes to do wrong, “she told the Consumer Loan.

Ms. Loan also said that the company Tan Thuan must apply for the City Party Committee in the sale of 32ha of land for the City Party Committee with the owner of Tan Thuan.

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“The new City Council is the place to decide. The party was not able to do it, but the Committee of the new do it. There is not a director who is foolish, how much to pay monthly salary but not resolved through the boss’s comments! “, She said.

President Quoc Cuong Gia Lai also confirmed that there was a policy to sell 32ha of land from the City Party Committee. And that there is nothing shady about the project transfer.

“Even now, if the State says it’s ok, ok, pay back your damages and you will not buy anything else.”

Referring to the worst case, Quoc Cuong Gia Lai must return land to Tan Thuan Company, Loan said: “We go to court, even the state must go to court. This is very clear, can not squeeze. The business is, the business is not wrong.

“If you are still trying to buy property, not auction, then you are wrong, too wrong,” she added.

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