Developer of notorious Carina Plaza fire-building finally promises compensation

April 04, 2018 | 21:45

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Submitting to pressure from management agencies and the press, Hung Thanh Co., Ltd., the developer of Carina Plaza, has promised to repair the damaged apartments and pay for the burnt vehicles.

developer of notorious carina plaza fire building finally promises compensation

Hung Thanh will collaborate with 577 Investment Corporation to compensate the victims of the Carina Plaza fire

Hung Thanh has just sent a document to Carina Plaza residents to apologise. The company confirmed that it will provide information for the investigation, help families whose members died or were injured, and compensate part of the assets and the vehicles of residents.

After the apology and compensation promises, the stock of the parent company NBB has increased by VND1,100 today, following a plunge that lasted for eight consecutive sessions. NBB closed at VND18,300 today, finally steering out of the plunge that reduced its capitalisation by VND810 billion ($35.7 million).

Hung Thanh and its parent company 577 Investment Corporation (NBB) agreed to give VND100 million ($4,405) for each deceased family member and VND5-50 million ($220-2,200) for each injury. Up to date, a total of over VND2.2 billion ($97,000) has been paid.

Hung Thanh also spent over VND2 billion ($88,100) helping 668 households rent temporary accommodation until their apartments are repaired. For the burnt vehicles, the company promises to pay reasonably compensation that is proportionate with the vehicles’ value and pay for the repairs of damaged vehicles.

The representative of Hung Thanh confirmed that all fire damage to the apartments will be repaired.

According to Hung Thanh, the company is also a victim of the fire, so they expect the local authorities to soon determine the responsibilities of relevant parties, such as the contractors in charge of the operation, management, and security of Carina Plaza.

After the apology and compensation promises, the stock of the parent company NBB has increased by VND1,100 today, following a plunge that lasted for eight consecutive sessions. NBB closed at VND18,300 today, finally steering out of the plunge that reduced its capitalisation by VND810 billion ($35.7 million).

Earlier, NBB stated that it was not the developer of Carina Plaza, despite holding 95 per cent of Hung Thanh’s charter capital.

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