Pacific Holdings (IFC-41686)

Countries
  • Vietnam
Geographic location where the impacts of the investment may be experienced.
Specific Location
Nation-wide
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
PACIFIC HOLDINGS JOINT STOCK COMPANY
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Education and Health
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Corporate Actor Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Apr 4, 2021

Disclosed by Bank Jan 22, 2019

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the project document, the Pacific Holdings Vietnam Joint Stock Company (“Pacific Holdings” or the “Company”) is a healthcare group with a footprint in HCMC, Hanoi and secondary provinces. Pacific Holdings operates three business lines:

- Kim Dental (KD): Founded in 2010, KD offers general dental treatment, oral surgery, and dental implants. KD is Vietnam’s largest dental care clinic chain and operates 26 clinics.

- Pacific Polyclinic (Poly): Started in November 2017, Poly offers general and specialized health examination and treatment. There is currently 1 polyclinic in operation with 25 doctors and 70 technicians. -

- Pacific Chiropractic Clinic (PCC): Started in October 2017, the clinics provide physiotherapy (chiropractic) care, corrective exercise, nutritional counseling, and lifestyle advice. The company typically leases commercial premises in downtown areas to establish its clinics and facilities which it refurbishes in accordance with its standard design template, prior to the opening of new premises.

The company does not currently own nor plan to own any premises nor build any standalone buildings in the future. 

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

IFC is considering a total investment of US$ 10 million in a convertible loan to Pacific Holdings to support its expansion plans (to reach a total of 100 KD, 15 Poly and 40 PCC clinics by 2021).

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

There are three individual shareholders of Pacific Holdings (the Sponsors):

  • Dr. Nam Huu Nguyen: Chairman of Pacific Holdings and Kim Dental. 
  • Mr. Bin Duy Su: CEO of Kim Dental. Mr. Bin holds a Master from Griffith University, Queensland, Australia.
  • Mr. Viet Minh Huynh: CEO of Pacific Holdings with extensive experience in investment and finance. Mr. Viet previously worked at Morgan Stanley in Los Angeles and New York, and holds an MBA from Harvard and MS & BA from Stanford.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

1/ The Project Contact

Pacific Holdings Vietnam Joint Stock Company 
Viet Minh Huynh 
Chief Executive Officer 
+84 988 066 277 
viet.huynh@pacificholdings.vn 
63 Pham Ngoc Thach street, Level 5, District 3, Ho Chi Minh City, Vietnam 

2/ The IFC Contact

General IFC Inquiries
IFC Communications
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

3/ Local Access for Project Documentation

Pacific Holdings Vietnam Joint Stock Company            

63 Pham Ngoc Thach street, Level 5, District 3, Ho Chi Minh City, Vietnam    

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

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How it works