Coteccons Corporation (stock code: CTD) has just released its reviewed financial statements for the 6-month accounting period ending on December 31, 2023, according to the financial year from July 1, 2023, to June 30, 2024.
Notably, Mr. Vo Hoang Lam – CTD’s CEO – received a salary of nearly VND 4.2 billion in the 6 months, equivalent to VND 700 million per month. This figure is the same as the previous year.
Mr. Vo Hoang Lam – CTD’s CEO.
Mr. Lam’s salary is about twice as high as that of other members in the CEO board and much higher than Mr. Bolat Duisenov – CTD’s Chairman of the Board’s. In the 6 months of 2023, Mr. Bolat Duisenov only received remuneration of over VND 90 million, and the same period last year was VND 0. Therefore, Mr. Lam’s income is 46 times higher than that of the company’s chairman.
Mr. Lam was appointed as CTD’s CEO on August 5, 2022, after nearly 2 years the company lacked this position since the upper level restructuring.
At that time, Mr. Nguyen Ba Duong – CTD’s Chairman of the Board and Mr. Nguyen Sy Cong – Coteccons’ CEO – along with many other long-standing personnel of Coteccons, left. Mr. Vo Thanh Liem was appointed as the Acting CEO of Coteccons and then also left after his 7-month tenure, from August 2020 to March 2021.
In 2022, with 4 months of work, Mr. Lam received a salary of VND 700 million, equivalent to VND 175 million per month. Thus, Mr. Lam’s current salary is much higher than when he took office.
Mr. Vo Hoang Lam has been working at Coteccons for nearly 17 years, holding many positions. Besides, he also served as the CEO of Unicons, a subsidiary company of Coteccons. In the upper level upheaval in 2020, Mr. Lam was one of the few people who stayed.
Not only at Coteccons, many other companies also pay higher salaries to the CEO position than to the Chairman of the Board.
At PDR Development Joint Stock Company (stock code: PDR), in 2023, Mr. Bui Quang Anh Vu – CEO – received the highest remuneration among the high-level leadership of the company with over VND 5.6 billion, equivalent to nearly VND 470 million per month. However, this income has decreased by 20% compared to the same period last year.
Mr. Bui Quang Anh Vu – PDR’s CEO.
Meanwhile, Mr. Nguyen Van Dat – Chairman of the Board – received a remuneration of nearly VND 483 million, nearly VND 2.2 billion in the same period last year. This figure decreased by 78% – the deepest decrease among the leadership of the company.
Mr. Vu joined PDR in 2014, working as the Deputy CEO in charge of investment from 2016 to 2020 and then taking the CEO position.
With Dat Xanh Group (stock code: DXG), Mr. Bui Ngoc Duc – CEO – although his salary has decreased by 32% compared to the previous year, still received a salary of nearly VND 2.8 billion in 2023. Mr. Duc alone accounted for 22% of the total salary fund paid to the executive board and other management members.
Mr. Duc is known for managing and participating in the development of large-scale projects by international corporations in Singapore, South Korea, and Indonesia.
Mr. Ng Tech Yow – Novaland Group’s CEO (stock code: NVL) – received a salary of nearly VND 3.3 billion, higher than the VND 1.1 billion remuneration of Mr. Bui Thanh Nhon – Chairman of the Board of Novaland. This income is calculated from March 17, 2023, when he officially assumed the CEO position.
Mr. Ng Tech Yow – Novaland’s CEO.
Mr. Ng Tech Yow (born in 1970), from Malaysia, is known for completing a Master of Business Administration (MBA) in the UK.
Mr. Nguyen Quang Tin – CEO of DIC Investment and Construction Joint Stock Company (DIC Corp – stock code: DIG) – also received a salary of over VND 1.6 billion in the past year, slightly lower than the previous year.
Mr. Tin has been working at DIC Corp since 2010, undertaking various positions such as Director of Investment Management, Director of Finance – Chief Accountant, Deputy CEO, etc.
At Haiphat Investment Joint Stock Company (stock code: HPX), Mr. Doan Hoa Thuan – CEO – had an annual income of VND 1.97 billion, an increase of 65% compared to the same period. Meanwhile, HPX’s Chairman of the Board Do Quy Hai only received VND 600 million per year, a 50% decrease compared to the previous year.
