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Following a request from the investigation agency of the Ministry of Public Security, the Tay Ninh Department of Finance has ordered an immediate suspension of all asset-related transactions involving Khang Thong Group and its subsidiary, Phu An Infrastructure Investment and Development Joint Stock Company (Phu An), located in Binh Duc commune, Tay Ninh province, to support the investigation into the case.
The Department of Finance instructs financial institutions, notaries and authentication offices, and related agencies to halt procedures including investment cooperation, purchase and sale, transfer, donation, encumbrance, mortgage, or any change to assets of the two entities named above.
The suspension covers assets such as equity and shares, real estate, and any assets valued at 100 million VND or more owned by the aforementioned legal entities and individuals.
In addition to suspending civil transactions, the Department will suspend investment procedures and enterprise registration for the two firms.
The suspension will remain in effect until a new document changing the measure is issued by competent authorities in accordance with the Penal Procedure Code.
The measure is also intended to accelerate civil enforcement related to directives from provincial and central leadership regarding ongoing cases in the area. Phu An is described as a major investor and developer of large-scale infrastructure projects in the southern region.
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