Ms. Le Hoang Nhu Uyen
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On May 30, Vinatrans’ Board of Directors approved the resignation of Ms. Le Hoang Nhu Uyen from her positions as General Director and Legal Representative. Mr. Ha Minh Huan has been appointed to these roles, effective May 31, 2024.
Prior to this decision, Ms. Uyen had submitted her resignation, citing an “unstable work environment that is no longer conducive to her work and contribution to the company”.
Vinatrans’ General Director Resigns Due to Unstable Work Environment
This move came as a surprise, given Ms. Uyen’s 28-year tenure at Vinatrans, including her role as General Director since February 2021. Prior to her resignation, the company had already undergone significant personnel changes, with several key positions being replaced.
Ms. Ninh Kim Thoa resigned from her position as Head of Finance and Accounting on April 19, and her deputy, Ms. Phan Thi Kim Chi, took over.
Ms. Le Thi Thu Hien and Ms. Pham Thi Thanh Binh were also removed from their positions as Board of Management and Chief Controller, respectively, effective April 15, 2024.
Earlier, on April 5, Mr. Nghiem Xuan Da, Chairman of Vietnam Steel Corporation – Joint Stock Company (VNSTEEL, UPCoM: TVN), had submitted a document proposing personnel changes to Vinatrans’ Board of Directors and Supervisory Board for the 2020-2025 term.
VNSTEEL withdrew its nomination of Ms. Le Thi Thu Hien for the Board of Directors and instead nominated Mr. Ha Minh Huan, Head of VNSTEEL’s Ho Chi Minh City Representative Office, to join the Board. Mr. Huan is also the newly appointed General Director of Vinatrans.
Mr. Trieu Anh Vu, a Finance and Accounting Specialist at VNSTEEL, was nominated to replace Ms. Pham Thi Thanh Binh as Chief Controller…
“Under the Same Roof” as Vietnam Steel Corporation
Vinatrans, established in 1975 and transformed into a joint-stock company in 2010, is a logistics company headquartered in District 4, Ho Chi Minh City. The company has a charter capital of VND 255 billion.
According to the 2023 management report, VNSTEEL is the parent company of Vinatrans, holding over 95% of its shares. Before stepping down as General Director, Ms. Le Hoang Nhu Uyen represented VNSTEEL, holding over 7.2 million shares (28.3%), while individual ownership accounted for only 6,000 VIN shares.
In addition to Ms. Uyen, several other leaders hold shares on behalf of VNSTEEL at Vinatrans, including Mr. Nguyen Minh Huy, Chairman of the Board of Directors, representing 29.42% of the shares. Mr. Nguyen Thanh Tong, Vice General Director and Member of the Board of Directors, holds 18.85%, and Ms. Le Thi Thu Hien holds 18.82%.
In terms of business performance, Vinatrans has seen a decline in revenue and profit over the past four years. In the first quarter of 2024, the company’s net revenue was nearly VND 28.5 billion, and pre-tax profit was almost VND 10 billion, a decrease of 14% and 15%, respectively, compared to the same period last year.
Despite the lackluster performance, Vinatrans has maintained its tradition of paying annual cash dividends to shareholders since 2013. The highest dividend recorded was 19% (VND 1,900 per share) for the year 2022.
Recently, the company’s Board of Directors announced a 7% cash dividend (VND 700 per share) for 2023. With 25.5 million shares in circulation, Vinatrans is expected to pay out approximately VND 18 billion in dividends. The ex-dividend date is June 13, and the payment is scheduled for June 28, 2024.
VIN shares were first traded on UPCoM in 2014. Since the end of April 2024, the share price has remained unchanged at VND 21,000 per share, with low liquidity and several sessions with no transactions.
| VIN share price movement since the beginning of 2024 |
