Joint Stock Company Investment Group I.P.A (HNX: IPA) has just announced the resignation of Ms. Nguyen Ngoc Thanh, a member of the Board of Management for the 2022-2027 term, effective from 04/06. The reason given was family commitments, which prevented her from continuing in her current position. The resignation will officially take effect from the date of approval by the annual general meeting of shareholders.
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Ms. Nguyen Ngoc Thanh (born in 1971), a native of Ho Chi Minh City, holds a degree in Information Technology Engineering and a Master’s degree in Finance. Prior to joining IPA, she worked for prominent organizations such as PricewaterhouseCoopers and IBM, and served as a Director at VNDIRECT Securities from 2006 to 2009. Ms. Thanh has been a member of the IPA Board since 2006 and took on the role of Chairman of the Audit Committee in October 2024. With nearly 19 years of dedication to IPA, she recently submitted her resignation in early June, just before the upcoming 2025 annual general meeting of shareholders scheduled for June 24th in Hanoi.
At the upcoming shareholders’ meeting, in addition to discharging Ms. Thanh from her duties and electing a replacement, the IPA Board of Management will also propose to the shareholders the re-establishment of the Supervisory Board, with the suggestion of electing three new members. Currently, IPA operates under a model without a Supervisory Board to streamline its organizational structure and expedite decision-making processes. However, as per the proposal for the 2025 annual general meeting, the Board of Management believes that as the company expands its capital and assets, there is a need for enhanced independent oversight to mitigate legal and financial risks and improve transparency.
On the subject of personnel matters, it is worth noting that IPA was recently fined VND 137.5 million by the State Securities Commission of Vietnam (SSC) on April 29 due to non-compliance with the required number of members in the Board of Management and the Audit Committee. Additionally, the company was penalized for violations related to information disclosure regulations, bringing the total fine to VND 400 million.
Related news: IPA fined for lending money to shareholders
IPA, a prominent multi-industry investment group, is closely associated with the entrepreneurial couple Vu Hien and Pham Minh Huong. Mr. Hien has served as the Chairman of the IPA Board of Management since 2007, while Ms. Huong, the current Chairman of the Board of Management of VNDIRECT, has been a member of the IPA Board since 2010. IPA is also the largest shareholder in VNDIRECT, holding 396 million shares, equivalent to 25.84% of the capital.
VNDIRECT has announced that June 24th will be the ex-dividend date for cash dividends for the year 2024, with a payout ratio of 5%, equivalent to VND 500 per share. With 1.52 billion shares in circulation, VNDIRECT is expected to pay out approximately VND 761 billion, of which IPA is anticipated to receive over VND 196 billion. The expected payment date is July 15th.
In terms of financial performance, in the first quarter of 2025, IPA recorded nearly VND 106 billion in net revenue, a 24% increase compared to the same period last year. However, profit after tax decreased significantly by 82% to VND 18 billion due to a 37% decline in financial revenue and a 17% decrease in profit from associated companies.
| IPA’s financial performance for the last 5 quarters |
On the stock market, IPA’s share price is currently trading at VND 13,600 per share, a 6% decrease over the past year. The average trading volume is approximately 164,500 shares per session. Previously, the share price surged from the VND 5,000 range in October 2020 to a peak of over VND 61,000 in late November 2021, more than a twelvefold increase, before plunging to below VND 8,000 in mid-November 2022.
| IPA share price movement since the beginning of 2025 |
– 11:13 16/06/2025
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