Vinaconex (VCG) elects CEO of Vihajico as chairman

Jan 14th at 15:54
14-01-2019 15:54:45+07:00

Vinaconex (VCG) elects CEO of Vihajico as chairman

Dao Ngoc Thanh, CEO of Vihajico, the investor of Ecopark, and representative of An Quy Hung Co., Ltd., was elected as chairman of Vinaconex.

 

The extraordinary shareholders’ meeting to elect members to the board of management and the board of supervisors of Vietnam Construction and Import-Export JSC (Vinaconex, code: VCG) took place on January 11, 2019 after changing the company’s shareholder structure.

Since the auction two months ago, there are three big shareholders owning more than 5 per cent of VCG stakes, including An Quy Hung (57.71 per cent), Star Invest (7.57 per cent), and newly-established Cuong Vu Real Estate Co., Ltd., which has just bought 21.3 per cent of VCG stakes from Viettel last week.

At the meeting, Vinaconex shareholders have elected Dao Ngoc Thanh, general director of Viet Hung Urban Development and Investment JSC (Vihajico), the developer of the Ecopark urban area, representing An Quy Hung, as chairman of Vinaconex.

In addition to being general director of Vihajico, Dao Ngoc Thanh is also chairman of Cotana Group (CSC) and vice chairman of APEC Investment JSC (API).

The new Vinaconex chairman said that Vinaconex will be one of the top three construction businesses in Vietnam. “We need to find a way to put the Vinaconex brand on the top of all buildings,” said Thanh.

Besides Thanh, Nguyen Xuan Dong (chairman of An Quy Hung), Duong Van Mau (deputy general director of Vinaconex), Nguyen Huu Toi (chairman of Vinaconex 12), Bui Tuan Anh (assistant of Vinaconex 12’s chairman), Nguyen Quang Trung (deputy general director of Phu Long Real Estate JSC), and Than The Ha (deputy general director of Vinaconex cum chairman of An Khanh New City Development Joint Venture Company) are also new members of Vinaconex’s BoM.

Meanwhile, the Board of Supervisors will contain Nguyen Xuan Dai and Le Dinh Vinh, two members proposed by Cuong Vu Real Estate.

The shareholders’ meeting has also approved the resignation of seven BoM members, including Nguyen Duc Chi, Do Trong Quynh, Tran Tuan Anh, Nguyen Anh Tung, Pham Van Hai, Le Dang Dung, and Nghiem Phuong Nhi.

Five members of the BoS, including Dang Thanh Tuan, Kieu Bich Hoa, Vu Hong Tuan, Nguyen Thi Quynh Trang, and Bui Anh Vu resigned.

At the end of last November, two of the three big shareholders of Vinaconex, State Capital Investment Corporation (SCIC) and Viettel Group, announced fully divesting their VCG holdings at the initial price of VND21,300 ($0.93), VND3,000 higher than the market price. The offer drew in numerous investors, including newly-established companies, companies with small charter capital, who registered to buy hundreds of millions of shares.

Eventually, An Quy Hung spent VND1.9 trillion ($82.6 million) to successfully buy SCIC’s VCG shares. Cuong Vu also poured a couple trillion dong to acquire the entire VCG holding of Viettel. Some time later, Star Invest spent over VND830 billion ($36.1 million) to acquire 34 million VCG shares from foreign investors and become a big shareholder of Vinaconex.

vir



RELATED STOCK CODE (4)

NEWS SAME CATEGORY

DHG appoints new chairman

Hau Giang Pharmaceutical Joint Stock Company (DHG)’s Board of Directors (BOD) has appointed Nguyen Chi Thanh as the new chairman of the company, starting October 26.

AGR appoints its CEO as new board chairman

Agribank Securities JSC (Agriseco) on Friday appointed its chief executive officer (CEO) to become the new chairman of the management board.

 CTG appoints new deputy general director

Viet Nam Joint Stock Commercial Bank for Industry and Trade’s (VietinBank) board of directors has appointed Hiroshi Yamaguchi as the new deputy general director of...

PM appoints new SCIC chairman

The Prime Minister appointed Nguyen Duc Chi as the new chairman of the State Capital Investment Corporation (SCIC) on December 28.

Eximbank appoints acting general director

The Viet Nam Export Import Commercial Joint Stock Bank (Eximbank) announced the appointment of Tran Tan Loc as acting general director yesterday.

Vinamilk appoints new COO

The Vietnam Dairy Products JSC (Vinamilk) recently appointed Mr. Mai Hoai Anh, Executive Director of Sales, to take on the position of Chief Operating Officer (COO)...

Vinamilk CEO Lien gives up chairwoman post

Mai Kieu Lien resigned as chairwoman of the Vietnam Dairy Products Joint Stock Company (Vinamilk) on July 25.

Bang appointed as Bao Viet Insurance's General Director

Phan Kim Bang has been accepted for the position of Bao Viet Insurance Ltd's General Director from May 25 onwards for a five-year term.

PVGas appoints new general director

The PetroVietnam Gas Joint Stock Corporation (PVGas) on May 9 appointed Duong Manh Son as its general director and a member of the management board of the company.

HAGL appoints new CEO

The Executive Board of the Hoang Anh Gia Lai Joint Stock Company (HAGL) has appointed Vo Truong Son as the firm's general director for the 2015 to 2018 period.


MOST READ


Back To Top