What does Mr. Hoang Khai have left at Khaisilk?
Withdrawing from Khai Duc - the core enterprise of Khaisilk, Mr. Hoang Khai still holds many other units with a series of real estate and high-end restaurants.
It is known that although he is no longer the legal representative of Khai Duc Company Limited - the core enterprise of the Khaisilk system, Mr. Hoang Khai (Khai Silk) is still the head of many affiliated units of this company.
Mr. Khai is currently the head of two branches of Khai Duc in charge of introducing silk products under the Khaisilk brand, namely Fashion Store 81 and Fashion Store Phu My Hung. In addition, three other branches of Khai Duc in charge of the high-end restaurant sector are Cham Restaurant, Minh Trung Hoa Restaurant and Nam Phan Restaurant, which are still under the management of Mr. Khai.
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Mr. Hoang Khai still owns many restaurants and high-end real estate. |
This businessman also owns Hoang Khai - a private enterprise.was established by him in late 2008 in charge of real estate leasing. To date, Mr. Khai is still the head of the company's affiliated units, including Saigon Taima Hotel, a 15 million USD project in Phu My Hung.
Mr. Hoang Khai, known as the founder of the Khai Silk "empire", started as a family embroidery shop in the late 80s. Positioned as a high-end product with a methodical model, the Khaisilk silk brand quickly built a reputation, especially with foreign tourists.
In the early 2000s, Mr. Hoang Khai decided to move to the South and "encroach" on the resort and restaurant industry.
First is the high-end restaurant Au Menoir de Khai built on Dien Bien Phu Street, District 3, Ho Chi Minh City. Next is the Hoi An Riverside Resort. And especially after that is the white Tajmasago castle worth 15 million USD located on the shore of the crescent lake in Phu My Hung urban area.
After that, Khaisilk stores and brands began to appear in prime locations such as Dong Khoi (HCMC), Intercontinental Peninsula Hotel Da Nang or JW Marriott Phu Quoc. In addition, the owner of KhaiSilk Group also owns the "Saigon Paragon" commercial and entertainment center designed in classic European style with an investment capital of up to 35 million USD, opened in July 2009, or a chain of high-end restaurants such as Cham Charm, Nam Phan, Khai's Brothers...
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Khaisilk silk scarves were concluded to "not contain any silk ingredients as announced". |
Although operating in the field of luxury products and services, both Khai Duc and Hoang Khai are currently having negative charter capital due to loss-making business operations.
With total assets of nearly 120 billion VND at the end of 2016, Hoang Khai's equity was negative nearly 60 billion, all assets were financed by nearly 200 billion VND in liabilities.
As for Khai Duc, the company was established in late 2002, it is also currentlynegative charter capital with an accumulated loss of nearly 48 billion VND, as of the end of 2016. Khai Duc's operations in the past 2 years have still been profitable, but with a scale of only a few billion VND per year. This leads to the fact that all of the company's assets are also financed by liabilities.
After the Khaisilk brand silk incidentSelling with incorrect origin labels, the operations of these businesses are significantly disrupted.
Many Khaisilk stores in Ho Chi Minh City no longer have any signs or products. The space the brand previously rented at 101 Dong Khoi (District 1) is now listed as for rent.Similarly, in Hanoi, shops are also closed.
After the inspection conclusion, the Ministry of Industry and Trade also said that it had transferred the case file and evidence to the police investigation agency for handling according to regulations for signs of criminal violations.
