Great power, many 'huge' real estate projects

Multi-industry ecosystem

APEC Group is known as a multi-industry corporation that owns a series of luxury real estate projects worth thousands of billions of VND, along with securities, interior, environmental companies...

All three companies, Asia- Pacific Securities Corporation (APS), Asia-Pacific Investment Corporation (API) and IDJ Vietnam Investment Corporation (IDJ), are listed on the Vietnamese stock exchange and are part of the APEC Group ecosystem of businessman Nguyen Do Lang. APS and API are member companies, while IDJ is an affiliated company.

At APS Securities, Mr. Nguyen Do Lang holds 14.3% of this enterprise's shares, while APEC Group holds 4.6%.

At Asia Pacific Investment (API), Mr. Nguyen Do Lang holds 16.34% of shares, APS Securities holds 13.1%.

At IDJ, APEC Group holds 9.9%, APS Securities holds 9.47%, APEC Holding holds 2.83%; Asia Pacific Energy holds 1.43% and Mr. Nguyen Do Lang holds 1.3%. APS Chairman Pham Duy Hung holds 0.92% of IDJ shares.

Ms. Huynh Thi Mai Dung (1975), wife of Mr. Nguyen Do Lang, was also prosecuted with her husband. Ms. Dung owns 2.02% of APS shares, more than 8% of API shares...

*Mr. Nguyen Do Lang, General Director of APEC Securities. (Photo: MA)*

In addition, Mr. Lang's younger brother, daughter and father also hold some stocks in the APEC group.

APEC Group has two main areas: financial investment and real estate development.

In terms of real estate, APEC Group is the investor of some projects, the rest are allocated to member companies APEC Investment (API) and IDJ Investment (IDJ).

According to API's report, by the end of the first quarter of 2023, this enterprise had unfinished production and business costs in many real estate projects such as: Royal Park Hue (291 billion VND), Da Hoi Industrial Park (114 billion VND), Aqua Park Bac Giang project (71 billion VND), Golden Palace Lang Son (88 billion VND), Dubai Ninh Thuan project (46 billion VND), Mandala Phu Yen (240 billion VND)...

At APEC Securities, Mr. Nguyen Do Lang is the founder and CEO. APS is a small-scale securities company, with a charter capital of VND 390 billion over the past decade and only increased sharply to VND 830 billion in 2021 when the stock market boomed.

2021 is also the time when other "APEC group" companies, IDJ and API, increased their capital by 2-5 times to VND 1,734 billion and VND 840 billion, respectively.

In addition, some businesses related to this group and present in API's financial report include: Dream Works Vietnam, APEC Land Hue, Mandala Real Estate Operations Management, Mandala Hotel and Service Management, Lagoon Lang Co, Dubai International, APEC Quang Tri...

APEC boss Nguyen Do Lang also had the ambition to build 10 million "5-star social housing" apartments at a price of only 10 million VND/m2 in the period 2021 - 2030.

Recently, the Government Inspectorate concluded that the allocation of defense land to BG Group Investment JSC, now APEC Group JSC, for commercial housing in Yen Bai in the 2010-2020 period was inappropriate.

APEC family stocks hit the floor

After the news of the prosecution of the stock manipulation case, tens of millions of APEC group shares were sold on the floor. At the end of the session on June 28, all three codes APS, API and IDJ decreased by the full amplitude (10%) for the third consecutive session with a large sell surplus.

Speaking about the incident, all three companies affirmed that they were not related to and/or had any activities related to the above incident. At the same time, they said that the incident did not affect or change the long-term orientations or normal operations of the companies, nor did it affect the rights and legitimate interests of customers, shareholders, and partners who are transacting and cooperating with the company.

Previously, the "APEC family" stocks caused a storm at many times. API shares once reached nearly 60,000 VND/share (in November 2021), 6 times higher than about 3 months earlier. At the shareholders' meeting at that time, API representatives shared that the valuation of 200,000 VND/share for API code in the long term is not expensive.

However, API shares then fell sharply and as of June 28 were at VND9,300/share.

APEC Securities' APS shares also had unusual fluctuations, increasing from VND5,000/share to VND60,000/share in November 2021. At that time, APS shares were still considered cheap and could increase several times more. Like API, APS shares then fell sharply and are now at VND10,600/share.

IDJ shares also increased many times in 2021 and have so far evaporated about 70%, to VND 9,800/share.

On June 28, Hanoi City Police issued a decision to prosecute and temporarily detain five suspects for the crime of stock market manipulation, including Mr. Nguyen Do Lang, General Director of Asia Pacific Securities Joint Stock Company (APS) and Pham Duy Hung, Chairman of APS.

These are the people involved in the criminal case that occurred at 3 companies: Asia Pacific Securities JSC, Asia Pacific Investment JSC (API) and IDJ Vietnam Investment JSC (IDJ), commonly known as the “APEC family”, related to the APEC Group ecosystem.

The State Securities Commission received a notice from the Hanoi Police Investigation Security Agency about the decision to prosecute the criminal case of "stock market manipulation" occurring at APS, IDJ and API.

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