Leadership Transition at Hoa Binh Construction Group (HBC)
On October 31, 2025, Hoa Binh Construction Group Joint Stock Company (HBC) announced the resignation of Mr. Le Van Nam from his positions as CEO and Board Member, effective immediately, citing personal reasons.
Mr. Nam, a seasoned engineer with over 20 years of experience, had been appointed CEO in June 2023, rising through the ranks within HBC.
During his two-year tenure, HBC faced ongoing challenges, but financial reports showed a return to profitability from Q2 2023 onwards.
Notably, Mr. Nam divested his entire stake in HBC approximately four months before submitting his resignation in late October 2025.
Image from Khang Thanh Construction and Investment JSC’s website
According to corporate records, Mr. Le Van Nam (born 1976) currently serves as Chairman of the Board at Khang Thanh Construction and Investment JSC (Tax Code: 0302009506).
Khang Thanh, with a chartered capital of VND 200 billion, specializes in general contracting, consulting, design, and project management—mirroring HBC’s core business areas. The company is headquartered in Long Truong Ward, Ho Chi Minh City.
Khang Thanh boasts a portfolio of notable projects, including collaborations with Sunshine Group on developments such as Sunshine Sky City, Sunshine Golden River, and Sunshine Diamond River.
Interim Leadership Appointed at HBC
Following Mr. Nam’s departure, HBC’s Board has appointed Mr. Le Viet Hieu, Deputy CEO and son of Chairman Le Viet Hai, as interim leader until a permanent successor is named.
HBC has experienced significant senior leadership turnover since August 2025, including the departures of two Deputy CEOs and a CFO. The company recently appointed a new Deputy CEO to fill one of the vacancies.
Financially, HBC reported strong Q3 2025 results, with net revenue of VND 1,122 billion (up 15% YoY) and post-tax profit of VND 188 billion (15x YoY growth), driven primarily by a VND 230 billion windfall from late payment penalties awarded by a court.
Year-to-date (9M 2025), HBC generated VND 2,760 billion in revenue and VND 240 billion in net profit. However, these figures fall short of the full-year targets of VND 9,000 billion in revenue and VND 360 billion in profit, highlighting persistent challenges in its core construction business.
Peace Construction Delays Partial Repayment of Bond Principal
Due to unresolved funding arrangements, Hoa Binh Construction has delayed the repayment of VND 12.4 billion in principal for the bond issuance HBCH2225002.
Peace Construction Relieves CEO of Duties
Hòa Bình Construction has relieved Mr. Lê Văn Nam of his duties as Chief Executive Officer, effective October 31, 2025.
Resignation of Hoa Binh Corporation’s CEO Announced
Mr. Le Van Nam has been relieved of his duties as Chairman of Hoa Binh Construction Group’s Board of Directors, effective October 31st, after over two years in the role. Mr. Le Viet Hieu, the company’s Standing Deputy General Director, will oversee operations until a new appointment is made.
Lê Văn Nam Steps Down as CEO of Hòa Bình
The Board of Directors of Hoa Binh Construction Group Joint Stock Company (UPCoM: HBC) has approved the removal of Mr. Le Van Nam from his position as Chief Executive Officer, effective October 31, 2025.
SMC Liquidates Over 10 Million HBC Shares and Assets to Settle Debts
SMC is seeking to liquidate nearly 10.5 million HBC shares and a series of assets currently pledged at the bank. The goal is to sell these assets and transfer ownership to settle outstanding debts.
