This move comes ahead of IPA’s 2024 Annual General Meeting. The registration deadline is May 23, 2024, and the company is yet to announce the time and venue.
For the same reason of other commitments, Ms. Vu Nam Huong previously withdrew from the Board of Directors of Post Insurance Joint-Stock Corporation (HNX: PTI) effective March 19, 2024.
During this period, LienViet Post Bank appointed Ms. Vu Nam Huong as Deputy General Director in charge of corporate customers. Her term is for 12 months, effective March 20, 2024.
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Ms. Vu Nam Huong |
Born in 1983, Ms. Huong holds a Bachelor’s degree in Banking and Finance. She was elected to IPA’s Board of Directors in 2017 and reappointed in 2022. At PTI, she was elected to the Board of Directors at the 2022 Extraordinary General Meeting.
Additionally, Ms. Huong has held several important positions, including Director of Capital and Financial Business at VNDIRECT Securities Joint Stock Company (left in November 2023), Chairman of the Board of Directors of Central Bee Joint Stock Company, and Chairman of the Board of Directors of Nam Can Tho Investment and Development Joint Stock Company.
IPA is a company associated with the names of entrepreneurs Vu Hien and Pham Minh Huong, the Chairman and Board member of VNDIRECT, respectively. Currently, IPA is the largest shareholder, owning 25.84% of VNDIRECT’s shares.
At IPA, Mr. Vu Hien has served as Chairman of the Board since 2007, while Mrs. Pham Minh Huong has been a Board member since 2010. The couple holds approximately 2.2 million IPA shares, equivalent to more than 1% of the capital, while the related organization, H&H Investment Management Company, holds 55.45% of IPA’s capital.
In terms of business performance, in the first quarter of 2024, IPA recorded a revenue of VND 86 billion, a 34% increase compared to the same period last year. The company reported a profit after tax of VND 105 billion, a significant improvement from the loss of VND 136 billion in the previous year.
This improvement was supported by a threefold increase in profit from associated companies, amounting to VND 131 billion. Additionally, the company reversed provisions for impairment of traded securities and investment losses, resulting in a 71% reduction in financial expenses.
| IPA’s Quarterly Financial Results for 2022-2024 |
As of the end of the first quarter, IPA made a new investment in Trung Nam Renewable Energy Joint Stock Company, a member of the Trung Nam Group, with an initial value of VND 850 billion, equivalent to 9.36% of the capital. Additionally, the company maintained an investment of over VND 928 billion in CenLand, but had to set aside a provision of VND 474 billion.
By The Manh
