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Famous singers in business jumble

Famous singers in business jumble

Saturday, October 20, 2012, 13:24 GMT+7

Ho Chi Minh City singer Cam Van and her husband Khac Trieu have fallen in a financial jumble with their joint-stock seafood processing company. Meanwhile, the other shareholder and firm’s director Ta Hung Mau claimed he is innocent in the affair.

The couple reported they have involved in a bad debt of VND5.5 billion (US$264,500).

Khac Trieu and three other shareholders hold each 20 percent of the Song Hung company, trading in seafood processing, import and export, with a chartered capital of VND15 billion.

The firm, which was granted business certificate in 2009, is managed by director Ta Hung Mau, who is also a holder with 20 percent. Two other holders are Phan The Hung and Nguyen Thu Thuy.

20 remaining percent are equally shared between Cam Van and singer Tuong Vy.

The firm began falling in initial trouble in 2010 when the director Mau admitted in a meeting of shareholders that he embezzled VND5.8 billion ($278,800) of the firm’s capital and mortgaged assets of the company in the Bank for Investment and Development of Vietnam (BIDV) in Ca Mau Province for a loan of VND12 billion ($577,000) without approval of other shareholders.

However, Mau pledged to take full responsibilities and pay all of his debt to the company. The promise was then accepted by all other shareholders and the firm keeps going on business.

Real problem arose in 2011 when the singer couple holding 30 percent and singer Tuong Vy with 10 percent agreed to transfer their 40 percent of capital to Ms. Tran Ngoc Suong for a total price of VND12 billion ($577,000), according to singer Van.

So far, Suong has paid them VND6.5 billion.

In a talk with Tuoi Tre yesterday, Suong admitted that she paid the sum and thus held in hand 20 percent of the share, and singer Khac Trieu has still kept his 20 percent.

Tuoi Tre also talked with the director Mau yesterday. Mau admitted that, “There has been no cheating at all in their business.”

“I am the man introducing Suong to meet Van and Trieu for the transfer. The buying side, Suong, agreed the price of 12 billion dong and paid 6.5 billion. She asked to pay the remaining of 5.5 billion in early 2013,” Mau added.

Mau also revealed that the Song Hung company was taken for financial assessment by independent firm Hoang Quan in June this year and it was valued at over VND40 billion ($1.9 million).

That means Song Hung has profit, Mau confirmed.

Ms. Nguyen Ngoc Anh, vice chief of the taxation department of Ca Mau’s Nam Can District, admitted the Song Hung company has halted its business and not been in any debt of tax till now.

tuoi tre

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