At the upcoming annual meeting, the Board of Directors of Vincom Retail (VRE) will present to shareholders the election of Mr. Nguyen Hoai Nam and the dismissal of two members, Le Mai Lan and Chairwoman of the Board of Directors Thai Thi Thanh Hai.

Mr. Nam is currently the General Director of Berjaya Vietnam Group, a branch of Berjaya Corporation Berhad (Malaysia).

According to the introduction in the report, Mr. Nguyen Hoai Nam, born in 1970, has a bachelor's and master's degree in business administration from the University of Southern California. He held the positions of Business Director of 3C Corporation (1992-1998), Financial Director of TTT Corporation (1998-2005), and CEO of Viet Au Investment (2005-2006).

After leaving Viet Au Investment, since 2006, Mr. Nam has held the position of General Director of Berjaya Vietnam Group - a company that owns many luxury hotels and real estate projects such as Sheraton Hanoi, Long Beach Phu Quoc, Hanoi City Garden. Berjaya Group is also a partner of Vietlott in the project of implementing lottery business in Vietnam for 18 years.

In addition to Berjaya Vietnam, he is also Chairman of the Board of Directors of Nam Huong Media and Investment Company, Saigon Berjaya Securities, NP Investment and Trading Company; Chairman of the Board of Members and member of the Board of Directors of many other companies.

In mid-March, Vingroup decided to divest all of its ownership in SDI Investment and Trade Development Company, thereby indirectly selling its shares and only holding 18.8% of capital at Vincom Retail.

SDI is a company that owns over 99% of the charter capital of Sado Trading Company - a major shareholder of Vincom Retail.

The transaction is expected to take place from March to the third quarter of 2024. After the transaction is completed, SDI, Sado and Vincom Retail will no longer be subsidiaries of Vingroup.

Vincom Retail is the unit in charge of Vingroup's retail real estate sector. After divesting here, billionaire Pham Nhat Vuong's group still has 6 main business segments, including real estate trading and transfer, hotel - tourism - entertainment services, healthcare, education, manufacturing and other activities.

In 2023, Vincom Retail recorded net revenue and after-tax profit of VND9,791 billion and VND4,409 billion, up 33% and 59% compared to 2022. The company currently manages 83 shopping malls in 44 provinces and cities and plans to open 6 more malls this year.

Minh Son