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VPH: VPH Corp withdraws capital in Phat Hung & invests in Van Phu Hung
Van Phat Hung Corporation (HoSE: VPH) decided to withdraw capital in Phat Hung Real Estate Co., Ltd. and join capital to establish Van Phu Hung Joint Stock Company:
On August 18, 2010, the Board of Directors held a meeting and decided to contribute VND20 billion (40% of the charter capital of Van Phu Hung) to set up Van Phu Hung Joint Stock Company at 114 Nguyen Trung Truc, Ward 2, Soc Trang City, Soc Trang Province.
On September 16, 2010, the Board of Directors was unanimous to withdraw capital in Phat Hung Real Estate Co., Ltd. Accordingly, Van Phat Hung Corporation will withdraw all capital contributed in this company, equivalent to VND7,500,000,000.
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