The Penultimate Powerhouse: A Dynamic Duo’s Departure on the Eve of the Annual General Meeting

Danh Khôi Group JSC (NRC on HNX) recently announced the unexpected resignation of Mr. Ho Duc Toan and Mr. Bui Duc Hoan from their positions as members of the Board of Directors.

In his resignation letter, Mr. Toan cited personal reasons and the need to focus on his new role as the reason for stepping down from the Board. Mr. Toan’s resignation will take effect on June 16, 2025.

Mr. Toan holds a Bachelor of Economics in Finance and Banking from the University of Economics in Ho Chi Minh City and a Master of Business Administration from Griggs University in the United States. He was appointed to the Board of Directors of Danh Khoi Group for the term 2022-2027, effective June 25, 2024.

According to the Danh Khoi website, Mr. Toan has 19 years of practical experience in finance, securities, and investment, having held positions such as Financial Investment Director at Danh Khoi Holdings, Branch Director at Maybank Securities Company Limited, and management roles at other securities companies.

Mr. Toan is also the founder of 1connect Consultancy Enterprise and a member of the American Society for Quality (ASQ) and the Vietnam Institute of Directors (VIOD), which is part of the global network of the Institute of Directors (GNDI).

In a similar development, Mr. Bui Duc Hoan also submitted his resignation from the Board of Directors of Danh Khoi Group, effective June 15, 2025, due to personal reasons.

Mr. Hoan was appointed to the Board of Directors of Danh Khoi Group on June 25, 2024, and has 18 years of experience in finance, investment, securities, and fund management. He has held senior executive and professional management positions, including Executive Vice President, Investment Director, and Chief Financial Officer at financial institutions and large corporations in Vietnam and the region, such as Postal Finance Company Limited (PTF) and KB Vietnam Securities Corporation.

Danh Khoi Group will propose to the 2025 Annual General Meeting of Shareholders, scheduled for June 24, 2025, to approve the resignation of Mr. Hoan and Mr. Toan from their positions as members of the Board of Directors.

Additionally, the company will seek shareholder approval for the 2024 financial statements and profit distribution, the selection of an independent auditor for 2025, amendments to the company’s charter, and the approval of remuneration for Board members and the person in charge of corporate governance for 2025, among other matters within the competence of the General Meeting of Shareholders.

In terms of business results, according to the consolidated financial statements for the first quarter of 2025, Danh Khoi Group recorded a revenue of VND 6.9 billion, an increase of 5.1% over the same period last year. After deducting taxes and fees, the company reported a net profit of nearly VND 662.4 million, a decrease of 75.3%.

As of March 31, 2025, Danh Khoi’s total assets decreased by 2.8% compared to the beginning of the year, amounting to over VND 1,875 billion. Long-term receivables accounted for 65.9% of total assets, at nearly VND 1,234.7 billion, while short-term receivables were nearly VND 389.8 billion, or 20.8% of total assets.

On the liabilities side, total liabilities were nearly VND 718.4 billion, a decrease of 7.1% from the beginning of the year. Borrowings and finance leases accounted for 40.5% of total liabilities, at over VND 290.7 billion.