VietNamNet Bridge - There are signs showing that Dang Van Thanh, a one-time tycoon, is returning to business with ambitious plans.

Four years ago, when the veteran banker had to leave Sacombank, wherevhe spent tens of years working as a founder and president.

About Thanh’s life in the last four years, a newspaper commented he led a peaceful life, spent time on a cow farm, grew tea, and met students as a teacher.

However, his name has repeatedly appeared on mass media in recent months. His moves taken with Thanh Thanh Cong (TTC) Group, owned by his family, as commented by analysts, show his attempts to come back to the business battlefield. 

A source from Tin Nghia Corporation said TTC Group has spent VND600 billion to acquire 54.5 million shares, or 35 percent of Tin Nghia’s stakes, becoming the strategic shareholder of the corporation.

There are signs showing that Dang Van Thanh, a one-time tycoon, is returning to business with ambitious plans.

TTC Group, which was once a sugar company, is now a conglomerate operating in many different business fields. Its 20 subsidiaries invest in real estate, energy, education, tourism and agriculture.

The business fields do not include banking, which is a surprise to the business circle. Thanh also said he still does not have a plan to return to the banking sector which made his reputation.

Tin Nghia is known as a real estate developer. It also invests in tourism, agriculture, education and logistics. On June 6, an industrial zone owned by Tin Nghia Group, and TIP, began listing its shares on the bourse.

Just within one month, TTC’s subsidiaries mobilized VND1.5 trillion through the issuance of non-convertible bonds to TP Bank, VIB and OCB. The capital is believed to serve the implementation of the plan to reorganize the sugar production. In this field, Thanh’s TTC is believed to hold 30 percent of the market share.

After leaving Sacombank, Thanh gathered strength on agricultural production development. Sugar and coffee were his biggest interest.

By joining hands with Tin Nghia, Thanh shows his ambition to attack the coffee market. Tin Nghia now has 700 hectares of Arabica coffee in Laos. The company plans to grow 3,000 hectares of coffee in Laos and build a processing plant in the country.

A series of merger & acquisition deals made recently showed that TTC is building influence in the industrial real estate sector in the context of the foreign direct investment flow as a result of a series of next-generation free trade agreements (FTAs).

Tin Nghia and Sonadezi now manage nearly all big industrial zones in Dong Nai province, including Nhon Trach 3, Nhon Trach 6D, Tam Phuoc, Bau Xeo and Tan Phu.

V. Ha