Not only business relationships, there are also special family relationships between the "Eastern European giants". Among these are the family of Mr. Nguyen Canh Son - Chairman of EuroWindow and Mr. Ngo Chi Dung - Chairman of VPBank.
According to statistics, businessmen from Eastern Europe account for 4/6 of Vietnam's USD billionaires. At the same time, this group also owns key businesses in many fields of the economy such as real estate (Vingroup, Masterise, SunGroup, EuroWindow, MIK Group, TNR Holdings, Phu Long...), Banks (VPBank, OCB, VIB, MSB, Techcombank), consumer goods (Masan Consumer) or aviation (Vietjet).
Not only business relationships, there are also special family relationships between the "Eastern European giants". Among these are the family of Mr. Nguyen Canh Son, Chairman of EuroWindow and Mr. Ngo Chi Dung, Chairman of VPBank.
Mr. Nguyen Canh Son and the Eurowindow Holding empire
Eurowindow Holding was established in 2007, operating under the holding model, managing direct and indirect investment capital in subsidiaries in many fields: construction materials, furniture to real estate, construction, banking and finance…
In recent years, Eurowindow Holding has promoted development in the real estate segment through businesses in the ecosystem, with a huge land fund stretching from North to South in both the commercial real estate segment and the real estate segment. resort real estate.
A series of famous projects such as Eurowindow River Park, Eurowindow Garden City, Eurowindow Twin Parks, Nghia Do urban area... or Movenpick Resort Cam Ranh, Radisson Blu Resort Cam Ranh... have partly shown their internal strength and great ambition. by founder Nguyen Canh Son.
However, due to the impact of the Covid-19 epidemic and subsequent policy and macroeconomic impacts, businesses have "eroded" their resilience.
Originally a famous name in the real estate industry, possessing the advantage of a desirable land fund, but in the past few years, Eurowindow Holding of businessman Nguyen Canh Son has continuously recorded exponential decline in profits.
Mr. Nguyen Canh Son - Chairman of EuroWindow
Eurowindow Holding's profits have decreased sharply over the years. In 2021, Eurowindow Holding's profit after tax is 127,3 billion VND, down 35% compared to 2020, and down 70% compared to 429,8 billion VND in 2019. ROE in 2021 is 2,6%.
According to periodic information disclosure on the financial situation of this enterprise in the first 6 months of 2023, Eurowindow Holding's profit after tax only reached nearly 24 billion VND, while the previous period recorded 52,2 billion VND. (sugar equivalent reduced by 55%). Profit after tax/equity ratio (ROE) is only 0,3%.
As of June 30, Eurowindow Holding's equity was at VND 6 billion, down VND 7.834 billion compared to the end of the second quarter of last year. Eurowindow Holding's total assets reached 1.783 billion VND, of which liabilities reached 15.276 billion VND.
A tight-lipped character in the Eurowindow – Techcombank – VPBank relationship
Eurowindow Holding is associated with the name of founder Nguyen Canh Son, a secretive businessman, born in 1967, from Thanh Chuong, Nghe An. Currently, Mr. Son also holds the position of Vice President of Vietnam Technological and Commercial Joint Stock Bank Techcombank.
Among the individuals related to Mr. Nguyen Canh Son published in Teckcombank's Management Report, as "related persons", are Ms. Nguyen Thi Phuong Hoa as his wife and his only son, Nguyen Canh Son. Tung.
Mr. Nguyen Canh Son Tung is a relevant figure and holds extremely "huge" positions at many companies.
Specifically, Mr. Tung is a member of the Board of Directors and Chief Financial Officer at Eurowindow Holding Joint Stock Company; is a member of the Board of Directors at Hanoi Investment and Construction Joint Stock Company No. 1 (HICC1); is Chairman of the Board of Directors of EuroFinance Joint Stock Company; Member of the Board of Directors at Vinh Trade Center Investment Joint Stock Company (Vincentra); Chairman of the Board of Directors of Eurowindow Quang Binh Five Star Joint Stock Company; Member of the Board of Directors of Moscow - Hanoi Housing Investment Joint Stock Company.
Mr. Tung also owns over 10% of the charter capital of Hanoi - Moscow Trade Center Investment Company (Incentra). Mr. Son Tung currently owns 21 million TCB shares, equivalent to about 713 billion VND as of September 25.
Chairman of Vietnam Prosperity Joint Stock Commercial Bank VPBank Ngo Chi Dung (Photo: Viet Q)
However, few people know that Mr. Nguyen Canh Son Tung is also the son-in-law of the Chairman of Vietnam Prosperity Joint Stock Commercial Bank VPBank. Ngo Chi Dung.
VPBank Chairman Ngo Chi Dung is a former employee of Techcombank. He once held the position of Vice Chairman of Techcombank from 2006-2010.
Techcombank's Board of Directors also recognizes other familiar names who are famous businessmen in Eastern Europe sitting in the Vice Chairman's seat, including Mr. Nguyen Dang Quang, Chairman of Masan Group Joint Stock Company; Mr. Nguyen Canh Son, Chairman of the Board of Directors of Eurowindow Holding Joint Stock Company.
Mr. Ngo Chi Dung's family currently owns about 1,044 billion VPBank shares, of which the 3 largest holders are Mr. Ngo Chi Dung (328,6 million shares), Ms. Hoang Anh Minh (Mr. Ngo Chi Dung's wife - 326,8 shares). 325,9 million shares) and Ms. Vu Thi Quyen (Mr. Ngo Chi Dung's biological mother - XNUMX million shares).
Public information about the company related to Mr. Nguyen Canh Son and his family members (source: Techcombank's Management Report for the first 6 months of 2023)
Owned by Mr. Nguyen Canh Son Tung. (Source: VPBank's Management Report for the first 6 months of 2023)
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