In its latest announcement, Phuong Anh International Joint Stock Company (stock code: PAS) has released a Board of Directors Resolution regarding the second phase of investment delegation.
Specifically, PAS has entrusted over 16.5 billion VND to Mr. Nguyen Hung Cuong, Chairman of the Board, to acquire land use rights and associated assets. The targeted land plot is parcel number 22, TBD 25, located in Co Rua village, Phu Cat commune, Quoc Oai district, Hanoi.
According to the authorization, Mr. Nguyen Hung Cuong has full authority to seek and negotiate all terms related to the land transfer. The funds can be disbursed in one or multiple installments, either in cash or via bank transfer, as per Mr. Cuong’s request or debt offset arrangements.
Established in 2010, PAS is a leading Vietnamese steel company specializing in various steel products and metal goods, including stainless steel, hot-rolled steel, cold-rolled steel, galvanized steel, and silicon steel.
Regarding business performance, the Q2 financial report indicates a robust 64% year-on-year revenue growth to 580 billion VND. However, high production costs resulted in a modest gross profit of over 16 billion VND, with a gross margin of less than 3%. After deducting related expenses, PAS reported a net profit of nearly 2 billion VND, doubling the previous year’s figure. For the first half of 2025, PAS achieved a cumulative revenue of 847 billion VND and a net profit of 1.7 billion VND.
On the stock market, PAS shares closed at 3,400 VND per share on October 27.
Unti
The Fortuitous Inheritance: How the New DIG Chairman Acquired a Significant Stake
A fortunate turn of events for the new chairman, indeed.
Mr. Nguyen Hung Cuong, Chairman of the Board of Directors of Total Joint Stock Company for Investment Development and Construction (DIC Corp, HOSE: DIG), announced that he has received over 11 million shares out of nearly 20.8 million inherited shares (equivalent to 53%) from the late Chairman, Mr. Nguyen Thien Tuan.
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As of the trading session’s close on November 19, 2024, Mr. Nguyen Hung Cuong, Chairman of the Board of Directors of DIC Corp, had just inherited over 11 million DIG shares.
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However, the final outcome remains uncertain.
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As of now, Nguyen Hung Cuong is the largest shareholder in DIC Corp, holding 62 million DIG shares, which equates to a 10.16% stake in the corporation.
