Famous mother-daughter couples in Vietnamese business circles

President of BRG Nguyen Thi Nga

VietNamNet Bridge - The mothers are influential businesswomen with huge assets of trillions of dong, while the daughters follow in their mothers’ footsteps, holding important positions at businesses. 1.Nguyen Thi Mai Thanh, president and CEO of the Refrigeration Engineering Enterprise (REE), is called ‘woman general’ at her enterprise. Thanh is very well known in the business circle as one of the 50 richest women in the stock market with the stock assets worth VND500 billion. She is also famous for her two excellent daughters – Nguyen Ngoc Thai Binh and Nguyen Ngoc Nhat Hanh who hold VND30 billion and VND90 billion worth of REE shares. Thai Binh is believed to become Thanh’s successor. Thanh joined REE in 1982. REE has been developing more strongly since the enterprise was equitized in 1992 with the net profit increasing from VND40 billion to over VND1 trillion in 2014. The profitable business makes REE share a blue-chip in the Vietnamese stock … [Read more...]

The youngest self-made billionaires

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VietNamNet Bridge - Not all stock billionaires were born into rich business families and can inherit huge assets from their parents. There are young and self-reliant billionaires on Bizlive’s list of billionaires. A lot of young faces can be found on the 2015 list of stock billionaires. While the oldest is over 70, the youngest ones are in their twenties. Nguyen Tran Thao Nguyen, for example, holds stock assets worth VND70 billion at the age of 24. Nguyen is the daughter of Nguyen Quang Hoa, deputy chair of Thien Nam Import/Export Company. There are other familiar names such as Dang Nguyen Quynh Anh, the daughter of Dang Thanh Tam, president of Kinh Bac Group, an infrastructure developer, and Nguyen Ngoc Nhat Hanh, the daughter of Nguyen Thi Mai Thanh, chair of the Refrigeration Engineering Enterprise (REE). Tram Khai Hoa is the richest among under-30 stock billionaires with assets worth VND300 billion. However, the billionaires are from business families and they can … [Read more...]

Vietnamese-born Australian added to under-30 stock millionaire list

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VietNamNet Bridge - Young faces have appeared on the list of millionaires who have stock assets worth millions of dollars. These include a Vietnamese-Australian who has stocks worth VND85 billion. The stock market had an eventful year in 2015. Bustling trading sessions occurred in the first months of the year. The VN Index climbed to 638 points in mid-year, but then plunged dramatically on bad news about the Chinese renminbi devaluation and the US FED’s decision on the prime interest rate increase. A report released by VnExpress and its data partner VNDirect Securities showed that of the 8,000 shareholders who are required to publicize information, 108 are aged under 30, or born in 1985 onwards. Tram Khai Hoa, born in 1988, member of the Board of Directors of Sacombank (STB), still leads the under-30 group of millionaires. However, he has fallen into the 38th position on the list of stock millionaires. The businessman now holds 33.3 million shares worth VND386.8 billion. … [Read more...]

As rich as Vietnamese 9X generation

Nguyen Ngoc Nhat Hanh, the daughter of Nguyen Thi Mai Thanh, chair and CEO of the Refrigeration Engineering Enterprise

VietNamNet Bridge - Many Vietnamese 9X, born in the 1990s, can spend tens or hundreds of billions of dong to buy shares. But the origin of their assets is unclear. An analyst noted that the Vietnamese stock market was special because of the presence of the ‘rich kids’, who can spend hundreds of billions of dong to buy shares though they are only 20 years old. The wealth of the 9X generation can be seen in big stock deals made in the stock market in the last days of September. Nguyen Tran Thao Nguyen, the daughter of Nguyen Quang Hoa, deputy chair of Thien Nam Import/Export Company (TNA), caught the special attention of the public when local newspapers reported that she now holds more than 2 million shares of TNA, or 25.49 percent of the company’s stake. However, the most impressive deal in late September was the one made by Le Tuan Anh, a very unfamiliar player in the market. Anh was the buyer in a transaction in which 4.73 million S99 shares were … [Read more...]

The richest and youngest heirs in Vietnam

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VietNamNet reviews the young and richest heirs in Vietnam.The youngest heir On September 9, 2013, Mr. Huynh Uy Dung, the boss of Dai Nam Tourist Site in Binh Duong province, surprisingly declared that he would transfer assets worth trillions of VND (hundreds of million USD) to his one-year-old son, named Huynh Hang Huu. This testament was released on the first birthday of the child, the only son of Dung and his second wife, Nguyen Phuong Hang. On September 21, 2013, Hang Huu officially became the chairman of Dai Nam Joint Stock Company, with over 2,000 employees. The baby also owns a huge fortune from his father, including Lac Canh resort, Dai Nam Van Hien theme park, Di An residential - administrative area, Song Than Industrial Parks 2 and 3, totaling hundreds of million of USD. However, a short time later Dung said that the baby was not the president of Dai Nam but the owner of a charity foundation. Until the boy is 18, the foundation will be run by a 12-member council, … [Read more...]

Assets of 50 richest women reach $1 billion

Nguyen Ngoc Nhat Hanh, the daughter of REE’s chair, is the young face in the top 50.

VietNamNet Bridge – The total stock assets of the 50 richest Vietnamese women in 2014 increased by VND5 trillion from the year before. The oldest member of the top 50 women is 64 years old, while the youngest was born in 1991. The total assets of the 50 women hit VND21.45 trillion by the end of 2014, an increase of VND4.9 trillion over 2013. Holding shares of the largest listed real estate firm, Pham Thu Huong, deputy chair of the Vingroup’s board of directors, has for the fifth time been recognized as the richest woman in Vietnam. Her husband, billionaire Pham Nhat Vuong, topped the list of 100 richest stock millionaires in 2014. Vuong is also the first Vietnamese dollar billionaire recognized by Forbes. The second position on the list of top 50 belongs to a member of the Pham family – Pham Thuy Hang, deputy chair of Vingroup, who holds shares worth VND2.3 trillion. Vingroup is believed to be one of the most "powerful" and profitable conglomerates in … [Read more...]

The new stock millionaires in 2013

Nam Long's President Nguyen Xuan Quang.

VietNamNet Bridge - Vietnam has got 30 more stock millionaires, who are the shareholders of the companies which begin listing their shares on the bourse in 2013, and the members of the rich families. VnExpress and its partner VNDirect Securities Company have reported that 34 new stock millionaires have turned up by December 18, 2013, who have the stock assets worth over VND21 billion, or 1 million US dollars. The decision by Nam Long Investment JSC (NLG) on listing its shares on the bourse in April 2013 has created six more stock millionaires. Nam Long's President Nguyen Xuan Quang, with the stock assets worth VND250 billion, has become the richest among the new stock millionaires. Quang has been known as the founder and the chair of Nam Long since its establishment in 1992. Besides, he holds the post of president in the other four companies. In Nam Long, Quang holds 14.6 million shares with the market value of VND249.7 billion currently, a 20 percent decrease in comparison with … [Read more...]

The Vietnamese young ladies with colossal fortunes

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The Hanoitimes - The number of Vietnamese millionaires has been increasing rapidly, while the rich businessmen tend to be younger in recent years. A lot of young ladies reportedly have the assets worth of multi billions of dong. Most of them are the beloved daughters of the big businessmen, who have the assets through inheritance and from the business of their own. On January 21, 2012, the HCM City Stock Exchange (HOSE) released a notice that the daughter of Nguyen Thi Mai Thanh, President of the Refrigeration Engineering Enterprise (REE) - Nguyen Ngoc Nhat Hanh, registered to buy o­ne million REE share more, thus raising her ownership ratio in the enterprise to 1.3% of the company's chartered capital. Until that day, Hanh had held 2.16 million REE shares, worth VND40 billion. The transaction of buying o­ne million shares more is expected to take place o­n the days between January 23 and February 21. The mother of the beautiful lady is Nguyen Thi Mai Thanh, the president of … [Read more...]

Yen fluctuations cause distress for big Vietnamese conglomerates

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VietNamNet Bridge - The recent sharp fluctuations of the Japanese yen have caused losses for Vietnamese enterprises that borrow money in yen. ACV, the Airports Corporation of Vietnam, has released a 2015 finance report with surprising information: its profit decreased by more than VND1 trillion, caused mostly by a VND640 billion loss from the Japanese yen fluctuation. The loss came from four long-term loans in yen provided under agreements signed between Vietnam and Japan, totaling 70.6 billion yen, or VND14 trillion. ACV got the loans to implement the projects on the Tan Son Nhat international terminal and the T2 Terminal at the Noi Bai International Airport. The exchange rate fluctuation also caused a headache to the Pha Lai Thermopower Company (PPC). Its pretax profit in 2015 dropped dramatically by 60 percent, while the company could only fulfill 70 percent of the yearly business plan because the financial cost soared by 12 times on the exchange rate’s changes. The … [Read more...]

Vietnam’s conglomerates prepare next-generation leaders

Truong Gia Binh, chair of FPT

VietNamNet Bridge - The managers and the ‘souls’ of many large conglomerates are getting older. Who will be their successors? At the latest shareholders’ meeting of FPT, the largest Vietnamese information technology group, a shareholder raised questions about the age of the key personnel. With cheerful tone, the shareholder said the members of the management board are all getting old and it is necessary to prepare for the next-generation leadership. He questioned if the current managers, aged 60, are innovative and creative enough to run the big conglomerates with tens of thousands of workers in the context of the rapid changes in the society. Truong Gia Binh, chair of FPT’s board of directors, is 60 years old this year. And so is Bui Quang Ngoc, deputy president and CEO. The aging of the key personnel is not only the problem of FPT. Truong Gia Binh, chair of FPT’s board of directors, is 60 years old this year. And so is Bui Quang Ngoc, deputy … [Read more...]

Shareholders’ meeting season starts, businesses pocket big money

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VietNamNet Bridge - Managers of large conglomerates are believed to pocket hundreds of billions of dong worth of dividends this year. Many of them have been leading simple lives and doing big business. The news that Hoa Sen Group (HSG) decided to pay a dividend of 75 percent to shareholders opened this year’s dividend payment season. A report released in late 2015 showed that Le Phuoc Vu, president of Hoa Sen, holds 20.7 million HSG shares. Besides, he also indirectly holds 20.3 million HSG shares more through two subsidiaries - Tam Hy Co Ltd and Hoa Sen Investment & Tourism. Vu’s wife, Hoang Thi Xuan Huong, holds 10 million HSG shares through Tam Thien Tam Co Ltd. As such, Vu and his wife are holding 54 million HSG shares, both directly and indirectly, and they will receive VND135 billion in cash and 27 million more HSG shares in dividend in 2016 (VND2,500 per share). Managers of large conglomerates are believed to pocket hundreds of billions of dong worth of … [Read more...]

Big capitalists vie for golden land in HCM City

Land prices not only depend on position, but also on urban development plans.

VietNamNet Bridge - Land prices not only depend on position, but also on urban development plans. Le Chi Hieu, chair of Thu Duc House, commenting about the auction of land plots in Thu Thiem new Urban Area, noted that if HCM City authorities had raised the proportion of houses for sale to 30 percent, the land plots would have sold better. In general, investors, when developing urban areas, expect to make profits from housing projects rather than other construction items. Meanwhile, city authorities decided that the area for shopping malls must account for 10 percent of the land fund, offices 80 percent, and houses 10 percent at maximum. The land price in HCM City has once again become a hot topic of discussion as city authorities announced 23 valuable land plots in advantageous positions would be auctioned in 2016. It is estimated that at least two auctions would be organized by city authorities every month to be able to sell out all the land plots as scheduled. Meanwhile, … [Read more...]

50 richest women on stock market

The assets of the five richest women on the stock market alone account for 60 percent of total assets of the members on the list of 50 richest women.

VietNamNet Bridge - The assets of the five richest women on the stock market alone account for 60 percent of total assets of the members on the list of 50 richest women. The 50 businesswomen had shares worth VND20.17 trillion by December 31, 2015. The oldest one in the list was 77 years old, while the youngest was 25 years old. The first three positions in the 2015 list are the same as last year’s. Holding the shares of the largest Vietnamese real estate group worth VND4.195 trillion, Pham Thu Huong, deputy chair of Vingroup has, for the sixth time, topped the list. Huong is the only businesswoman listed among the top 3 stock millionaires. The second position also belongs to a member of Pham family – Pham Thuy Hang, deputy chair of Vingroup, with stock assets of VND2.8 trillion. Nguyen Hoang Yen, member of Masan’s Board of Directors, has been put on the third position. She is the wife of Nguyen Dang Quang, chair of the group. Yen has seen her assets decrease … [Read more...]

Rapid urbanization makes it profitable to invest in water supply projects

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VietNamNet Bridge - An ADB report shows that Vietnam’s population in urban areas is expected to increase to 37 percent by 2020 from 30 percent. The rapid urbanization would lead to an urgent needs for infrastructure, including clean water. There are many reasons for investors to believe that water supply is a business field deserving of their investments. A report showed that only 60 percent of urbanites can approach clean water. Meanwhile, the percentage of water lost during the transmission is still high, at 30 percent, higher than the 15 percent in developed countries. This is attributed to the old water distribution system. Operational water production and supply companies were mostly state owned enterprises (SOEs). In 2007, the state, in an effort to call for capital from the public, put a series of companies into equitization. The Ministry of Finance’s Price Control Agency, in its report about the water supply sector in Vietnam, showed that 35 out of 90 water … [Read more...]

How much do Vietnamese bosses earn?

Doan Nguyen Duc (left) received VND4.18 billion in 2014

VietNamNet Bridge - The Chair of Hoang Anh Gia Lai Group, Doan Nguyen Duc, one of Wall Street Journal’s 20 most powerful Asian business people in 2011, tops the list of the "big bosses" with high monthly salaries. There is no common answer to the question about the monthly pay to businesses’ chairs and CEOs. The salaries could be sky-high for prosperous businesses and surprisingly low for unprofitable ones. Hoang Anh Gia Lai’s financial report showed that in 2014, every member of the board of directors received VND3.4 billion a year, or VND283 million a month. Duc, as the chair of the board of directors, received more than VND3.4 billion. In 2013, he received VND4.18 billion in salary and bonus. However, while the members of the group’s board of directors received sky-high pay, each member of the board earned VND106 million in 2014, or VND8.8 million a month. The post-tax profit of CII, a HCM City-based infrastructure development company, soared in 2014; … [Read more...]

How do the Vietnamese get rich?

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VietNamNet Bridge - A new class of Vietnamese with total assets of at least one million dollars emerged over the last 30 years. relate news Who is the second-ranked dollar billionaire in Vietnam? Nguyen Xuan Thanh, director of the Fulbright Economics Teaching Program in HCM City, said the elite in Vietnam took shape after the average-income mechanism in the subsidy period was abolished. … [Read more...]

Nicknames of Vietnam’s biggest bigwigs: Where do they come from?

Tycoon Le Thanh Than.

VietNamNet Bridge - It is not unusual for Vietnamese billionaires to be assigned informal nicknames by the public, media or colleagues. While most accept the monikers bestowed on them, others are less comfortable with what they are called. Being the second son in the family, Doan Nguyen Duc, the owner of Hoang Anh Gia Lai Group, was called by his relatives "Ba Duc", meaning "Duc, the second child", according to the custom of the central region's people. However, he is better known in the business community as "Bau Duc", meaning "football club owner Duc". That's because he owns the Hoang Anh Gia Lai Football Club, a big name in the Vietnam Premier League. … [Read more...]

Forbes honours three Vietnamese businesswomen

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(VOV) -Renowned US business magazine Forbes has announced the list of the year's top 50 businesswomen in Asia, including three Vietnamese. Vinamilk leads Forbes Vietnam's list of top 50 Forbes launches first edition for Vietnamese market First Vietnamese billionaire on Forbes list The three most powerful Vietnamese businesswomen are Mai Kieu Lien, manager and CEO of the Vietnam Dairy Products JSC (Vinamilk); Nguyen Thi Mai Thanh, manager and CEO of the Refrigeration Engineering Enterprise (REE); and Nguyen Thi Nga, manager of the Southeast Asia Joint Stock Commercial Bank (SeABank). Born in France and educated in Moscow, Kieu Lien immigrated to Vietnam in 1976 and joined Southern Milk, helping to modernise the old State-run dairy cooperative. After privatization in 2003, she assumed the chair on the board of directors and has since has transformed Vinamilk into one of Vietnam's most profitable and recognizable brands throughout Asia. As one of the most profitable brands … [Read more...]

Big banks’ CEOs poorer than small banks’ CEOs

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VietNamNet Bridge - A paradox exists that the bosses of small banks are very rich, while the big bankers complain that their salaries are too modest. Big banks' CEOs poorer… President of the Bank for Investment and Development of Vietnam (BIDV) Tran Bac Ha complained that it is "difficult to live" with the ceiling monthly salary of VND36 million the State offers to the CEOs of state owned economic groups or general corporations. BIDV has become a joint stock bank after the equitization, but the State still holds 95 percent of the bank's stakes. Under the current regulations, if CEOs fulfill their business tasks very well, they would receive VND54 million at maximum, or VND648 million a year. The income level is just equal to the pay to Nguyen Thi Mai Thanh, President of the Refrigeration Engineering Enterprise (REE) or Doan Nguyen Duc, President of Hoang Anh Gia Lai group. It is simply because Ha is the president of a state owned enterprise, while Thanh and Duc are the … [Read more...]

The mystery of the water market

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VietNamNet Bridge - Observers have noted that there is a new wave of the foreign investment in the Vietnamese water market. REE, the well-known refrigeration engineering enterprise, has decided to set up a subsidiary - Viwic - a clean water company, with the chartered capital of VND650 billion. It has also announced the plan to buy 17 percent more of the stakes of the Thu Duc Water Supply Plant to raise its ownership ratio there to 42 percent. Analysts believe that REE has taken a wise move it was informed about a new foreign investment wave which targets the Vietnamese water market. The Filipino and Singaporean investors reportedly bought shares of Vietnamese companies some months ago. On October 8, 2013, Ayala Group from the Philippines, through its subsidiary Manila Water, wrapped up the deal of buying 31.5 percent of stakes of SII, the Saigon water infrastructure company. After the deal, Ayala has become the biggest foreign investor in the Vietnam's water industry. Manila … [Read more...]