"The chicken lays yellow eggs" of the NextTech ecosystem
In the case related to NextTech Group Joint Stock Company led by Mr. Nguyen Hoa Binh (Shark Binh), the police agency identified Ngan Luong as a link in the ecosystem of defendant Nguyen Hoa Binh. Currently, the investigation agency is expanding to clarify related financial transactions, including many money transfer activities of the Ngan Luong Payment Portal, not just stopping at the field of virtual currency.
Ngan Luong Payment Intermediary Joint Stock Company was established in 2012, one of the pioneering enterprises providing payment intermediary services in Vietnam. Ngan Luong is considered a leading e-wallet and online payment portal, and is also the first successful product in Shark Binh's NextTech ecosystem, once considered the "golden egg-laying chicken" of this 8X businessman.
The enterprise is headquartered on the 3rd floor of VTC Online building, No. 18 Tam Trinh, Tuong Mai ward, Hanoi. Mr. Nguyen Hoa Binh holds the position of Chairman of the Board of Directors, while Mr. Dinh Hong Quan assumes the position of General Director and legal representative. In addition, Mr. Quan is also a member of Godgame Service Joint Stock Company and HTTPS Vietnam Technology Joint Stock Company.
Ngan Luong introduces itself as "the largest banking internet payment portal in Vietnam", allowing users to pay online via bank or Nganluong.vn e-wallet.
Strong fluctuations in capital and shareholder structure
According to the introduction, Ngan Luong provides online payment solutions for sellers with the most payment channels in Vietnam such as international cards, domestic ATM cards, Internet banking, QR-Pay, e-wallets, bank transfers. The company also provides installment payment, payment, Tokenization card connection, payment via MPOS, Tingbox notification speakers and Payment Link.
In addition, Ngan Luong also supports cross-border payment and money transfer services. According to the introduction, this payment portal collects VND payments for overseas merchants from customers in Vietnam, supporting popular payment methods such as international cards, domestic cards, QR-Code, Mobile Banking, e-wallets. Linh Bank's affiliated banks will transfer money (exchanged to USD, CNY...) to foreign merchant after deducting taxes and fees according to Vietnamese law on cross-border e-commerce transactions.
Ngan Luong is Chairman of the Board of Directors of Shark Binh, and was a legal representative before transferring this position to Mr. Dinh Hong Quan (born in 1988) since 2019.
The business records show many fluctuations in shareholder structure and capital contribution value. At the end of 2018, Ngan Luong had a charter capital of VND 52.7 billion. At that time, 50% of foreign capital was transferred from Mol Accessport Al SDN.BHD (Malaysia) to Nganluong Holdings Limited (Seychelles - a country in Africa). By June 2020, this foreign shareholder withdrew capital after nearly two years.
In May 2022, Ngan Luong increased its capital from VND 52.7 billion to VND 280 billion, but did not announce the shareholder structure. After only one month, the company continued to increase its capital to nearly 370 billion VND. However, by January 2024, the company had reduced its capital to VND52.7 billion as before, equivalent to a decrease of nearly 86%.
Companies worth tens of billions of VND of Mr. Dinh Hong Quan
Regarding Mr. Dinh Hong Quan - General Director and legal representative of Ngan Luong, in addition to this enterprise, he also represents two other companies including Godgame Service Joint Stock Company and HTTPS Vietnam Technology Joint Stock Company.
Godgame Service Joint Stock Company was established on October 30, 2018, headquartered in Cau Giay District, Hanoi, operating mainly in the field of video game business, providing online games (except for games with prizes for foreigners or games with prizes online).
The company has an initial charter capital of 100 million VND, of which Mr. Dinh Hong Quan contributed 90 million VND, Ms. Ta Thuy Duong and Mr. Nguyen Phu Son each contributed 5 million VND. By the end of November 2018, the enterprise increased its capital to 10 billion VND, but the shareholder structure and ownership ratio were not announced.
HTTPS Vietnam Technology Joint Stock Company was established on April 28, 2022, with its main business line being software publishing. The enterprise has a charter capital of 10 billion VND, of which Mr. Dinh Hong Quan contributed 6.5 billion VND (65%), Ms. Ngo Thi Ngoc contributed 2.5 billion VND (25%) and Ms. Dinh Thi Thu Thuy contributed 1 billion VND (10%). Mr. Dinh Hong Quan and Ms. Ngo Thi Ngoc have the same permanent address.
