The Industrial Real Estate giant, Kinh Bac City Development Corporation (KBC), has undergone significant developments following its $1.5 billion partnership with the Trump Organization. This collaboration marks a substantial investment in Hung Yen Province, Vietnam, announced in September.  

In a noteworthy move, KBC’s Chairman, Dang Thanh Tam, has registered the transfer of over 86 million shares, valued at approximately VND 2.3 trillion, to his private company.  

On November 19, KBC disclosed that Dang Thanh Tam plans to transfer 86.55 million shares (out of his 138.67 million shares in KBC) to DTT Investment and Development JSC, a private company he controls. The transfer, aimed at contributing shares as equity, is expected to take place between November 25 and December 24.  

If successful, DTT will emerge as a significant new shareholder of KBC, holding an 11.27% stake. Post-transaction, Dang Thanh Tam will retain 52.1 million shares, equivalent to a 6.79% stake in KBC.  

At the close of trading on November 19, KBC’s stock declined for the second consecutive session, settling at VND 26,600 per share. The transferred shares are estimated to be worth VND 2.3 trillion.  

Founded earlier this year, DTT Investment and Development JSC specializes in real estate. Initially, Dang Thanh Tam held over 90% of DTT’s equity but has since reduced his stake to 18.06% as of November 19.  

Such private company transfers are common among listed firms, allowing business leaders to consolidate assets for more streamlined management and tax benefits. This practice can help executives avoid personal income taxes on dividend payouts and securities transfers, instead incurring corporate income tax (typically 20%) with the added ability to deduct expenses and offset losses over five years.  

This development follows the announcement of KBC’s partnership with the Trump Organization. The deal involves constructing a $1.5 billion complex in Hung Yen, featuring a 54-hole golf course, luxury resorts, and villas adhering to the Trump Organization’s highest service standards. The project will cater to high-profile events, international conferences, and upscale residential needs.  

The collaboration also signals a generational shift within KBC. Dang Thanh Tam’s second son, Dang Nguyen Nam Anh, recently debuted as the representative of KBC’s office in Hoan Kiem District, Hanoi. Meanwhile, his daughter, Dang Nguyen Quynh Anh, born in 1996, has become a notable shareholder with over 13.3 million KBC shares and is a member of the Board of Directors.  

Dang Thanh Tam and his wife, Nguyen Thi Kim Thanh, have four children: Dang Nguyen Quynh Anh, Dang Nguyen Nam Anh, Dang Nguyen Duy Anh, and Dang Nguyen Bao Anh. The increasing involvement of the younger generation highlights KBC’s transition into a family-led enterprise with broader strategic ambitions.  

Manh Ha