Vinhomes Joint Stock Co (HoSE: VHM) has announced the transfer of more than 32.2 million shares (equivalent to VND 322 billion) from Cu Chi Development Corporation. After completing the procedure, Vinhomes became the parent company with a 98% ownership ratio.
Reported that Cu Chi Development Corporation was established on 9/11/2011 by General Director Pham Thi Nhu Thuy as legal representative.
According to the latest enterprise registration on June 29, 1818, GS Chi Company reduced its chartered capital from VND 900 billion to VND 328.75 billion, all of which was private. In early June, the company also changed its seal from a limited company into a joint stock company.
The scope of operations of GS Cu Company is to build, manage and operate a 36-hole golf course with supporting facilities for golf courses, club members, golf schools, spa centers international standards and other types of sports and leisure …
Remarkably, GS Chi Corporation is also the developer of the project golf course Cu Chi. This project has a total area of about 200ha, the initial investment is $ 42.6 million.
According to the approved planning, the golf course of Cu Chi has a land-use structure comprising of golf course and supporting infrastructure, which covers an area of 140ha-150ha, transport land and greenery area of 43ha-47ha. The house for rent is about 8ha-10ha.
At the beginning of 2012, C.T Group acquired 95% stake in GS Chi Engineering Development Co., Ltd. of GS Engineering & Construction Corp of South Korea.
After taking over the project, C.T Group renamed the project to C.T.Sphinx Golf Club & Residences.
On the official website of C.T Group still shows Cu Chi GS is a member of the group.
In fact, earlier in February 2018, Vinhomes said signed a contract to transfer the project of golf course Cu Chi at a cost of VND1.760 billion.
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