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Taseco Land’s CEO Nguyen Tran Tung. Source: Taseco Land
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The new Chairman was unanimously chosen by the Board of Directors of Construction and Investment Joint Stock Company No. 4 (ICON4, UPCoM: CC4) after he was elected to the Board of Directors for the term 2020 – 2025 at the Annual General Meeting of Shareholders in 2024, replacing Mr. Dao Tien Duong.
CC4’s shareholders also agreed to appoint Mr. Dang Xuan Hien – Member of the Supervisory Board of Taseco Real Estate Investment Joint Stock Company (Taseco Land, UPCoM: TAL) – to replace Ms. Vu Thi Khanh Ha as a member of the Supervisory Board.
Currently, TAL holds 72.5% of CC4’s capital. Neither Mr. Tung nor Mr. Hien owns any shares in this subsidiary.
Mr. Nguyen Tran Tung (born in 1974) is a native of Quang Ninh and holds a Master’s degree in Construction. He has been a member of the Board of Directors and CEO of TAL since 2017 and was reappointed in late 2022 after completing his 5-year term.
Mr. Tung appeared on TAL’s shareholder list after the real estate company raised capital in July 2019 through a preferential share offering to existing shareholders at VND 10,000/share and paid dividends in shares, increasing its charter capital from VND 600 billion to VND 900 billion.
The leadership of TAL contributed VND 90 million, owning a ratio of 0.01%, equal to that of another individual, Mr. Do Tuan Anh. The remaining shares were owned by Thang Long Aviation Service Joint Stock Company (99.98%), now known as Taseco Group Joint Stock Company.
VND 210 billion out of the proceeds was used to contribute to the subsidiary Taseco Invest, and VND 60 billion was invested in the Alacarte Ha Long project. In the next offering in 2019, Mr. Tung’s contribution amounted to more than VND 121 million, with an unchanged ratio.
By the end of 2023, the new Chairman of CC4 owned 0.14% of TAL‘s capital, equivalent to approximately VND 851 million at the market price of nearly VND 20,000/share. In addition to his role at CC4, Mr. Tung also serves as Chairman of related companies such as Taseco Invest, TAH Investment, Tay Ho Vision, and represents 22.49% of Taseco Group’s invested capital in TAL.
Last year, the CEO of TAL received a total of over VND 920 million in salaries, bonuses, and allowances, amounting to approximately VND 77 million per month. In the past four years, Mr. Tung has received an annual salary and bonus ranging from VND 600 million to VND 1.1 billion, or VND 50-92 million per month.
Mr. Dang Xuan Hien (born in 1973) started at TAL in 2017 and currently owns 0.004%. During this time, he also served as the Head of the Secretariat – Legal Affairs and then as a member of the Supervisory Board of the parent company, Taseco Group. In addition, he is a member of the Board of Directors of Vietnam Construction and Technology Development Joint Stock Company since 2020.
Regarding the former Chairman, Dao Tien Duong (born in 1976), he was only appointed to the Board of Directors of CC4 for the term 2020 – 2025 at the beginning of 2021 and became the Chairman of the Board of Directors in 2022.
Currently, Mr. Duong is the Deputy General Director of Taseco Group and has been a member of the Board of Directors of several companies, including Vietnam Aviation Cargo Services, TAH Investment, Vietnam Packaging Joint Stock Company (simultaneously serving as General Director), NHT Global Trading Joint Stock Company, and Taseco Aviation Service Joint Stock Company (HOSE: AST). Mr. Duong personally owns only 0.31% of CC4’s capital but represents up to 50% of TAL’s shares in this subsidiary.
