The list of elected members of the Board of Directors approved by the General Meeting of Shareholders includes Mr. Nguyen Dung Minh, Mr. Le Dinh Quang, Ms. Nguyen Thi Lan Huong; Ms. Le Thi Viet Nga and Mr. Nguyen Duc Minh elected as independent members of the Board of Directors.
The Board of Directors of the Company then held its first meeting of the new term 2024-2029, approving the election of Ms. Nga as the Chairman of the Board of Directors.
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List of elected members of the OGC Board of Directors
Source: OGC
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List of elected independent members of the OGC Board of Directors
Source: OGC
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Therefore, the old members of the Board of Directors who were retained include Ms. Le Thi Viet Nga (born in 1979) and Ms. Nguyen Thi Lan Huong (born in 1984).
Ms. Nga is an independent member and has been the Chairman of the OGC Board of Directors since April 2022. She is also a member of the Board of Directors of Tân Việt Joint Stock Company since May 2023. In addition, from 2020 until now, Ms. Nga has also been the Deputy General Director of IDS Argo Servicer Co., Ltd.
Meanwhile, Ms. Lan Huong has a master’s degree and worked at Dai Duong Commercial Joint Stock Bank from 2006-2014 as the Head of the Board of Directors Office, and then as the General Director of Dai Duong Hotel and Services Joint Stock Company from 2015-2019. In addition, she has been a member of the OGC Board of Directors since 2015, as well as the General Director of Bao Lam Holdings Investment and Management Limited Liability Company from 2019 until now.
Ms. Le Thi Viet Nga (middle) at the 2023 Annual General Meeting of Shareholders of OGC.
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The remaining independent member of the Board of Directors is Mr. Nguyen Duc Minh (born in 1984), who holds a bachelor’s degree in Accounting and a master’s degree in Information Systems Management from Northern Illinois University (USA). Mr. Minh has worked at Pricewaterhouse Coopers (PwC) Vietnam for 4 years (2011-2015), and then worked at Linh Chi Company Limited (2017-2022). Since 2023, Mr. Minh has been the General Director of ATALE Company Limited.
Mr. Nguyen Dung Minh (born in 1982) and Mr. Le Dinh Quang (born in 1984) are both affiliated with One Capital Hospitality Joint Stock Company – a subsidiary of Ocean Group – from 2022 until now. Among them, Mr. Dung Minh is an independent member of the Board of Directors, while Mr. Quang is the General Director.
Source: Company’s Financial Statements
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Mr. Dung Minh has extensive experience in senior positions in various organizations. He was the Business Director of Savills Vietnam (2006-2011) and Deputy General Director of Ecopark Corporation from 2012-2020. Since 2022, he has also been the Deputy General Director of MIK Group Vietnam Corporation.
Meanwhile, Mr. Dinh Quang (born in 1984) worked for HAI HOA Technology Joint Stock Company and PVC-Metal Joint Stock Company as Deputy Director from 2008-2012. After that, he worked as the Director of Khang Dien Company and the Director of the Northern Region of EcoTruck Company from 2013-2017.
The Board of Key Supervisors (BKS) also elected Ms. Duong Thi Mai Huong (born in 1967), Ms. Le Thi Bich Hanh (born in 1984) and Ms. Tran Thi Chung (born in 1990).
 Source: OGC
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Ms. Chung is the Chief Accountant of Investment and Management Bao Lam Holdings, and she has also been the General Director of the company with Ms. Lan Huong since March 2020.
Ms. Hanh and Ms. Mai Huong have both worked at Binh Hung Trading and Service Joint Stock Company. From 2022 until now, they have worked at three organizations: Trang Tien Ice Cream Joint Stock Company, Givral Bakery Joint Stock Company, and One Capital Hospitality Joint Stock Company. In each company, Ms. Mai Huong is the Director of BKS, while Ms. Hanh is the Auditor. All four mentioned organizations are subsidiaries of Ocean Group.
The BKS held a meeting and elected Ms. Mai Huong as the Head of the BKS for the term 2024-2029.
Source: Company’s Financial Statements
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Previously, OGC experienced personnel changes when a number of senior executives simultaneously resigned, including Ms. Pham Thi Hong Nhung – Member of the Board of Directors and CEO; the other two members of the Board of Directors, Ms. Tran Thi Ngoc Bich and Ms. Nguyen Thi Thanh Huong. In addition, Mr. Pham Trung Hieu – Former Head of BKS also resigned.
The General Meeting of Shareholders also approved the termination of the aforementioned individuals and Ms. Tran Thi Trang – Supervisor.
Source: OGC
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* OGC is preparing to restructure the upper-level management after a major shareholder change.
OGC’s stock is currently under warning. According to the explanation sent to HOSE on January 30, 2024, the reason is that the undistributed after-tax profit as of December 31, 2023 is negative VND 2,554 billion.
In the future, the Company will focus on its core business areas of real estate, carry out comprehensive restructuring of existing investments and assets, and implement plans to restart some real estate projects to create growth momentum in the coming years. “The Company believes that it will gradually reduce the accumulated losses on the financial statements,” OGC stated.
In 2023, Ocean Group had consolidated revenue of nearly VND 985 billion, a decrease of nearly 3% compared to the previous year. However, the net profit reached VND 105 billion, an increase of 2.6 times.
| OGC’s accumulated losses at the end of 2023 over VND 2,500 billion |
Kha Nguyen
