Construction stocks hold up on boss’s appearance
Construction stocks hold up on boss’s appearance
The stocks of Tan Tao Investment Industry Corp and Kinh Bac Urban Development Corp have inched up due to the appearance of the firm’s boss at the concurrent National Assembly (NA) meeting on Monday.
The prices increased by VND200 per share (4.9 percent) and VND200 per share (3.5 percent) to VND4,300 per share and VND5,900 per share respectively after Dang Thanh Tam, KBC’s boss, appeared in public as an NA delegate at the fourth assembly meeting.
Tam is the brother of former NA delegate Dang Thi Hoang Yen, who is the chairwoman of Tan Tao Investment Industry Corp, and a member of the the firm's board of directors.
ITA and KBC hit the ceiling at 10:00 am on Monday with over 2.58 million shares and 890,900 shares successfully traded by the end of the day.
The benchmark VN-Index of HoSE rose 0.78 point (0.2 percent) to 392.48 points by the end of Monday’s morning session with 78 gainers and 74 losers.
“As an NA delegate, I am joining the meeting to show my responsibility to voters,” Tam told local media.
Prior to the appearance, on October 22, Nguyen Sinh Hung, chairman of the NA, received Tam’s absence excuse letter for the coming NA meeting for medical treatment overseas. Meanwhile, the Ho Chi Minh City NA delegation also submitted a written proposal to the NA chairman on the same issue.
The NA chairman then allowed Tam to take leave.
Businessman Dang Thanh Tam, born in 1964, is a member of the Foreign Relations Committee of the NA.His sister, Dang Thi Hoang Yen, has been dismissed from her post as a delegate.
The NA in May removed Yen, a deputy of Long An Province, from the list of its members due to her dishonesty with a 96.6 percent ‘yes’ vote.
One month earlier, with a 100 percent ‘yes’ vote, the Vietnam Central Fatherland Front Committee had voted to propose that the National Assembly delete deputy Yen from the list of NA members for the dishonesty shown in her record details.
Dang Thanh Tam was ranked as the richest man in Vietnam in 2007, and the third wealthiest in 2008, 2009 and 2010 based on the value of shares he owned after ITA and KBC shares were listed on HoSE in 2007.
He is the board chairman and CEO of two listed firms, Kinh Bac Urban Development Corp and Saigon Telecommunications Technology Corp, which was coded SGT after being listed on HoSE in 2008.
tuoitrenews
