Novaland's CEO receives over 400 million VND per month in remuneration.

According to the Q2/2024 financial report of Nova Real Estate Investment Group Joint Stock Company (NVL), in the first six months of the year, the company spent VND 131.8 billion on employees and management, a slight decrease compared to VND 137.7 billion in the same period last year. However, the salaries and remuneration of the leadership increased significantly.

The highest-paid person at Novaland in the past six months was Mr. Ng Teck Yow, Board Member and General Director, with over 2.47 billion VND, equivalent to 412 million VND per month. In the same period last year, he only received over 676 million VND.

The second highest-paid person at Novaland is Mr. Duong Van Bac, the Chief Financial Officer, with a salary of over 1.42 billion VND, equivalent to 238 million VND per month.

Mr. Bui Thanh Nhon continues to refuse his salary. (Photo: Novaland)

Mr. Bui Thanh Nhon, Chairman of the Board of Directors, does not receive a salary but is compensated with 600 million VND (equivalent to 100 million VND per month). In the same period last year, Mr. Nhon received 500 million VND in compensation.

Other members of the Board of Directors received a remuneration of 300 million VND over 6 months. Chief Accountant Huynh Minh Luan received a salary of 296 million VND.

At Phat Dat Real Estate Development Joint Stock Company (PDR), members of the Board of Directors and the General Management Board received a slight salary increase in the second quarter, totaling VND 5.9 billion.

In the second quarter, the highest earner was Mr. Bui Quang Anh Vu, the General Director, with 1.4 billion VND, the same as the same period in 2023, equivalent to more than 466 million VND per month.

The deputy general directors recorded increased income compared to the same period last year. Specifically, Mr. Truong Ngoc Dung's income increased from 459 to 581 million VND; Mr. Nguyen Khac Sinh's income increased from 418 to 480 million VND. Mr. Phan Le Hoa had the highest income among the deputy general directors with 826 million VND, while Mr. Vu Kim Dien had no income.

In the management team, Mr. Nguyen Van Dat, Chairman of the Board of Directors, received an income of 485 million VND in the second quarter, a slight increase compared to the same period last year, equivalent to nearly 162 million VND per month.

Mr. Dat's son, Nguyen Tan Danh - Vice Chairman of the Board of Directors, received an income of 150 million VND this quarter, an increase of 30 million VND compared to the same period last year.

For both board members and independent board members, 2 did not record any income in the second quarter, while 3 members received 120 million VND.

At An Gia Real Estate Investment and Development Joint Stock Company (AGG), Mr. Nguyen Ba Sang, Chairman of the Board of Directors, received an income of VND 747 million in the first half of this year, a significant increase compared to VND 246 million in the same period last year. However, Mr. Sang is not yet the highest earner at An Gia.

The highest earner is General Director Nguyen Thanh Son with over 1.2 billion VND. Due to his resignation on June 3rd, Mr. Son only received income for the first five months of the year. On average, Mr. Son received 240 million VND per month.

Chief Accountant Nguyen Thanh Chau's income increased from over 489 million VND in the first half of last year to nearly 539 million VND in the first half of this year.

Mr. Bui Thanh Nhon received lower remuneration than the two CEOs of Novaland. Novaland's Q2/2023 financial report revealed the salaries of its Board of Directors and executive staff members during the first six months of the year.

Source: https://vietnamnet.vn/sep-novaland-nhan-thu-lao-hon-400-trieu-dong-moi-thang-2309081.html