If you ask a Vietnamese, what news is most concerned about recently.
They are likely to tell you the same answer:
Zhang Meilan, the boss of Wan Shengfa of Real Estate Group, was arrested.
For friends who are not clear about things, tell me what happened.
Simply put, Zhang Meilan, the boss of Vietnam Real Estate Group - Van Thinh Phat , is suspected of illegally issuing bonds to raise funds. illegally raised trillions of Vietnamese Dong between 2018 and 2019.
Let’s not talk about the matter for now. The protagonist Zhang Meilan alone has a big background.
Another title is the richest woman in Chinese. She started selling cosmetics and took the position of the real estate queen step by step, and founded Wanshengfa Group.
Zhang Meilan and her husband ▼
And Wan Shengfa's status in the world is basically equal to one of the largest real estate groups in Vietnam. Even the landmark building of Ho Chi Minh City - Saigon Times Square is her work.
is such a Vietnamese super real estate giant, and it has been stormed.
What's more bizarre is that after Zhang Meilan was arrested, several senior executives of Wan Shengfa were exposed to have died bizarrely.
Why do executives die? We can't guess the reason. But what we can know is that it is definitely a foregone conclusion that Wan Shengfa issuing bonds to cheat money by illegally issuing bonds.
People found that Wan Shengfa had many projects in his hands, but in fact it was suspended as early as 2018. However, they have issued many bonds and have been using these projects to make pie.
In fact, similar things are not new, but they have always been hidden.
As a result, this year there was a super luxurious real estate tycoon who wanted to use bonds to get 30 trillion Vietnamese dongs ran away. This has caused all these black tricks to deal with real estate.
Let’s bring the timeline back to April this year, another real estate group in Vietnam - New Huangming's thunder .
Coincidentally, the boss and his son of Xinhuangming were also arrested. ▼
At that time, Xinhuangming also said that he would develop real estate, buy land, and carry out construction.
and, I have a fancy to the most expensive land in Vietnam. Then, 19 million bonds were issued to the public.
However, the entire capital of Xinhuangming is only 20 trillion yuan. As a result, the land captured costs 2.45 billion Vietnamese dong.
So, you can’t expect experts to buy this bond. When people think about it, they will find that there is something wrong with it.
So, Xinhuangming planned to start with retail investors who are the best to cut leeks.
The smart new Huangming first secretly bought all these bonds through its three empty subsidiaries.
Then dress up these bonds and package them into various high-yield investment contracts. On the one hand, in order to attract retail investors, on the other hand, they can confuse them and prevent them from knowing what they are buying.
The problem is that in Vietnam, ordinary individual investors cannot purchase bonds.
So, the considerate Xinhuangming also provided these retail investors with investment certificates to obtain purchase qualifications.
On the surface, it seems that everyone is making money together, but in fact they want to eat others up.
Because retail investors purchased "wealth management packages" issued by their subsidiaries, not Xinhuangming's bonds, retail investors can only get their debts to the subsidiaries.
The new Huangming Group hidden behind it can get rid of the money that retail investors cheated.
And these so-called real estate tycoons have tried their best to cheat money, and the purpose is also very simple. It is to make the land hotter and hotter, so as to add fuel to the real estate industry.
These real estate groups that have acquired the land do not develop at all. After the price of the land rose, I patted my butt and left.
For example, Wan Shengfa bought many projects in Ruan Hui Pedestrian Street, but the construction has not started yet.
Wan Shengfa's SJC tower project was now overgrown with weeds ▼
Although these malicious behaviors that disrupt the market are exposed, what is waiting for them is to squat.
But even so, Vietnam's housing prices have been rising and they have to experience more than 20% of the increase every year.
is risky, but who is willing to let go of this takeoff bonus?
In addition to real estate companies, a large number of investors have also flocked to the real estate market one after another. How popular is the market? Here is a picture for you to experience it.
The soaring land prices in Vietnam have long been unable to stop cars.
At the end of last year, Shoutian County, Ho Chi Minh City, even sold a sky-high price of 2.46 billion Vietnamese dong/m2, which is approximately RMB 679,000/m2.
This has become popular even on various platforms in China.
Just searching for Vietnamese real estate on B site, what pops up is what makes 500 million yuan in real estate speculation.
Real estate agents are more beautiful than the other.
Vietnam Real Estate Advertising ▼
In the mouths of these real estate speculation media, there is only one house in Vietnam between you and Li Ka-shing .
Hey, don’t say it, the meat flavor of the real estate market has really attracted Li Ka-shing. Moreover, it was recommended by Zhang Meilan.
In April this year, Li Ka-shing held hands with the Ho Chi Minh government and prepared to invest heavily in Ho Chi Minh City.
When everyone saw that even Li Ka-shing, the old fox, came. This Vietnamese market is definitely a sure profit and loss.
Government support and foreign capital support, the government and the people are both trapped in the dream of getting rich by relying on real estate.
As a result, before Li Ka-shing had agreed, the new Huangming burst the real estate market. This triggered a large number of rights protection incidents, which directly alarmed the Vietnamese government.
The Vietnamese government not only forced the 9 bonds issued by Xinhuangming, arresting Du Yingyong, chairman of Xinhuangming.
Vietnamese Prime Minister Fan Mingqin quickly ordered a major cleanup of the real estate market.
I don’t know if I don’t check it, I’ll be shocked when I check it.
not only found real estate companies like Zhang Meilan's Wan Shengfa, but also found out a whole link of people speculating in real estate. Even the President of the National Securities Commission of Vietnam participated.
The reason why retail investors buy junk bonds issued by Xinhuangming is indispensable for the efforts of guys such as Banks and securities firms .
Although these companies have very bad financial situations, they often owe a lot of money from the bank.
In order for these junk companies to repay their money, banks and their securities firms guarantee and promote their bonds.
According to Finn Ratings' research, it was found that 80% of the bonds issued by these Vietnamese real estate companies were actually junk bonds.
However, with the joint efforts of banks and enterprises, garbage has been packaged into hot goods.
followed this line and even found Chen Wenyong, chairman of the National Securities Commission, and Chen Wenyong was directly removed from his post. Afterwards, the managers of various stock exchanges were also beaten up in one fell swoop.
Chen Wenyong visited the Shenzhen Stock Exchange ▼
There are even rumors that this Zhang Meilan incident, Vietnam's National Bank SCB also helped a lot in it.
Although the bank immediately came out to refute the rumors, perhaps in order to stabilize the people's hearts, the government still replaced all the bank's senior management.
Under the series of scandal bombardment, even the old man who spreads pancakes downstairs could taste the problem. not to mention the Vietnamese government, but unfortunately it was too late.
At this time, Vietnam's real estate has been seriously overheated. Real estate ranks second in foreign investment, with investment reaching 58.2 billion.
, along with the high housing prices, the depreciation of the Vietnamese Dong has set a new high since 2008.
However, fortunately, after the lesson of land prices taking off in 2008, the Vietnamese government has been particularly cautious about real estate. Before
, they restricted foreigners' qualifications to buy houses in Vietnam, such as only buying apartments, and buying certain houses requires an additional charge of 20%-30%.
After this series of events, the government's credit approval for real estate has also begun to increase its investment layer by layer.
Perhaps, Vietnam's real estate bubble can really be controlled.
However, the impact of housing speculation on the people has defeated the public's confidence in the industry.
The high land price in Vietnam has always been a mountain that is weighing on ordinary people. Therefore, in this place where every inch of land is valuable, most local people’s houses are built very narrow and long.
Results In recent years, as real estate companies continue to speculate on the market, Vietnamese real estate grew sharply by 50-300% between 2014 and 2019, and the average housing price of capital Hanoi has reached US$2,000 per square meter.
Although ordinary people can’t afford it, real estate tycoons can. If you issue bonds, the money will be automatically recovered from the people.
The total issuance volume of Vietnam's bond market in the first quarter of 2022 increased by 18.98%, and the largest of them was real estate.
The outstanding bonds of Vietnam real estate have reached a scale of 41.4 trillion. And here, basically most of them are junk bonds that are lost.
A good trick " Use your money to realize my dream " and let the people pay for their greed continuously.
When the SCB bank was exposed to be entangled in real estate corruption, the Vietnamese people finally couldn't sit still.
They completely lost confidence in the bank, and everyone was busy queuing up outside the gates of Standard Chartered Bank and Saigon Commercial Bank.
Although the Vietnamese central bank quickly came out and said, don’t worry, the insurance amount of the bank account is 125 million.
However, there is no way to stop people from rushing to banks.
Vietnamese people queuing up to collect money at the bank gate ▼
When we discuss whether Vietnam's financial crisis will come, don't forget that behind those shriveled astronomical numbers is the lives of ordinary people.
More times, we are just an ordinary chess piece in financial games.
