The control is established through KBC’s 95% ownership of Hung Yen Investment and Development Group JSC (HYG), which recently contributed 99% of the charter capital to establish Trump International Vietnam JSC. As a result, KBC indirectly owns 95.32% of the new company, giving it effective control.

Established on July 9 and headquartered in Hung Yen, Trump International Vietnam operates primarily in real estate development. The move follows a groundbreaking ceremony held on May 21 for the Trump International Hung Yen project - a massive urban complex featuring eco-tourism and a luxury golf course, with a total investment of $1.5 billion.

The project is being developed in collaboration with The Trump Organization, the business entity associated with former U.S. President Donald Trump's family. It spans 1,000 hectares in Khoai Chau district and is positioned as Vietnam’s most premium golf resort, boasting a 5++ star hospitality complex and a full range of upscale amenities.

This is the first real estate project in Vietnam to carry the Trump brand, reflecting the country's rising appeal to international investors. The scale and prestige of the development have drawn significant attention from the real estate and investment communities.

To fund the project, KBC is moving forward with plans to raise VND 6 trillion (approximately USD 235 million). This includes a continued offering of 147.1 million shares remaining from a previously under-subscribed private placement.

Manh Ha