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Mr. Do Xuan Lap, Independent Member of Phu Tai’s Board of Directors, has tendered his resignation on April 29, 2025, citing health reasons and acknowledging that he no longer meets the requirements to fulfill his duties at the company.
Phu Tai announced that Mr. Lap’s resignation will be presented to shareholders for approval through a written consent process, expected to take place in May 2025.
Previously, on the evening of December 17, 2024, Mr. Lap was detained at an illegal gambling den operating under the guise of the Diamond Club in District 3, Ho Chi Minh City. The authorities subsequently prosecuted and detained him for four months for “Gambling.”
Immediately following the incident, Phu Tai released abnormal information to reassure shareholders, affirming that Mr. Lap was only an Independent Member of the Board of Directors and was not directly involved in the management or operations of the company, thus having no impact on its business activities.
As of the end of 2024, Mr. Lap owned 332,563 shares of PTB, equivalent to 0.5% of the charter capital. In addition to his role at Phu Tai, he also served as Chairman of Tien Dat Wood Industry Joint Stock Company and Chairman of the Vietnam Timber and Forest Product Association (Viforest).
In other personnel changes, at the 2025 Annual General Meeting of Shareholders held in mid-April, Phu Tai dismissed Mr. Le Vy from the position of Member of the Board of Directors and appointed Mr. Le Anh Van, son of Mr. Vy and current Deputy General Director of the Company, to the Board.
In terms of business performance, PTB recorded a 27% increase in net profit in the first quarter of 2025 compared to the same period last year, amounting to over VND 113 billion – the highest in the past seven quarters. This improvement was attributed to better sales in wood, real estate, and automotive sectors, coupled with reduced financial expenses.
For the year 2025, Phu Tai set consolidated revenue and pre-tax profit targets of VND 7,343 billion (up 10%) and VND 528 billion (up 12%), respectively. After the first quarter, the company achieved 22% of the revenue plan and 27% of the profit plan.
In the stock market, PTB shares are trading around VND 50,800 per share, down 18% in one quarter. In April 2025, the share price dropped from the VND 57,000 range to a low of nearly VND 48,000 due to the impact of news about new US tariffs.
– 13:58 05/08/2025
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