Appeal court hears case of PVN’s bad Oceanbank investment

6/21/2018 - 3:34:33 PM

The High-Level Court in Hanoi has begun hearings for an appeal filed by Dinh La Thang, a former chairman of the state oil group PVN, concerning the company’s loss of VND800 billion (US$35.2 million) on investments in the struggling lender Oceanbank.

Dinh La Thang at the trial court

The appeal was also lodged by six other defendants, who asked the court to review their charges, sentences and civil responsibilities.

Earlier, Thang, a former Politburo member and Ho Chi Minh City secretary, had been sentenced to 18 years for deliberately violating state regulations on economic management, which led to serious consequences.

Thang was also ordered to provide compensation of VND600 billion, while other defendants received between 15 months of community sentence and 23 years in prison.

According to the indictment, although he was well-aware of Oceanbank’s weaknesses, Thang decided to invest a total of VND800 billion in the lender in violation of current regulations.

Due to its poor performance, Oceanbank was eventually acquired by the State Bank for zero Vietnamese dong, resulting in the loss of the entire VND800 billion investment.

In a separate case, the court upheld a 13-year sentence for Dinh La Thang for assigning PVC, a unit of PVN, to carry out the engineering, procurement and construction (EPC) package at the Thai Binh 2 power plant in violation of the law.

The appeal hearing, which began on June 19, is expected to last for seven days.

Source: NDO

Hoa Binh strives to complete district medical centre projects on schedule

Hoa Binh is carried out investment projects to upgrade three district medical centres in Lac Son and Yen Thuy districts and Hoa Binh city. The projects are funded by the central budget under the Economic and Social Recovery and Development Programme, aiming to improve healthcare services. The goal is to gradually develop a system of modern and quality district-level healthcare facilities.

Diverse recreational activities for elderly people

To improve the cultural and spiritual life of the elderly, the associations for the elderly at various levels in Hoa Binh province have created many interesting and meaningful activities, attracting the participation of a large number of old people. These activities provide opportunities for them to improve both their physical and mental health, enabling them to live happily and healthily.

Hoa Binh workers to head to RoK for seasonal farming jobs

The pilot programme for sending Vietnamese workers to the Republic of Korea (RoK) for seasonal agricultural jobs continues under a collaboration between localities of the two countries, running for five years from January 1, 2022.

Hoa Binh province records first cornea donation

Staff of the Red Cross Society of Hoa Binh province were deeply moved by a meaningful and humanitarian act by Mr Vu Huu Lung, 86, in Hoa Binh city, to donate his corneas, which brought hopes to those yearning for the light. Before passing away, Lung left behind a noble wish to donate all of his organs, including his corneas, to help patients suffering from blindness and those in need of organ transplants to revive their lives.

Bung 2 Hamlet preserves traditional cultural identity

In the small house of Bui Van Luong in Bung 2 Hamlet, Thu Phong commune, Cao Phong district, an array of traditional items such as serving trays, woven storage baskets for blankets, sticky rice containers, and bamboo baskets are beautifully and skillfully crafted.

Hoa Binh works to unceasingly better education quality

Over the recent past, the education and training sector of Hoa Binh province has paid great attention to reforming management activities, improving teachers’ quality, and innovating teaching methods that focus on quality and efficiency, at the same time with implementing the sector’s emulation campaigns and movements.