Vinaconex’s Largest Shareholder Makes a Notable Move

Pacific Holdings, a leading investment corporation and majority shareholder of Vinaconex with over 45% ownership, has recently taken decisive action to significantly reduce its chartered capital.

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Pacific Holdings Investment Corporation (CTCP Đầu tư Pacific Holdings) has made a significant move by substantially reducing its chartered capital. According to the business registration announcement in December 2025, Pacific Holdings adjusted its chartered capital from VND 7.1 trillion to VND 4.97 trillion. The post-change shareholder structure has not been disclosed. This marks the first time the company has adjusted its chartered capital since its establishment in November 2021.

Despite its trillion-dong capital, the company employs only two workers, as announced in December 2025. Currently, Mr. Trần Đình Tuấn serves as both the CEO and legal representative of Pacific Holdings.

At the time of its establishment, the company had an initial chartered capital of VND 7.1 trillion. The founding shareholder structure included An Quý Hưng LLC, holding 99.92% of the capital, and individual shareholders Mr. Đào Ngọc Thanh, Mr. Dương Văn Mậu, Mr. Nguyễn Xuân Đông, and Mr. Nguyễn Hữu Tới, each owning 0.02%.

As of the end of Q2 2025, Pacific Holdings is the largest shareholder of Vietnam Construction and Import-Export Corporation (Vinaconex, stock code: VCG), holding 270.2 million VCG shares, equivalent to a 45.14% stake.

Notably, Pacific Holdings CEO Trần Đình Tuấn also serves as Deputy CEO of Vinaconex.

Among Pacific Holdings’ shareholders, Mr. Đào Ngọc Thanh is the former Chairman of Vinaconex’s Board of Directors, having resigned in July 2024 and officially approved by the shareholders’ meeting in April 2025. Meanwhile, Mr. Nguyễn Xuân Đông is a Board Member and CEO of Vinaconex. Both Mr. Nguyễn Hữu Tới and Mr. Dương Văn Mậu are Board Members and Deputy CEOs of Vinaconex.

In recent developments, Mr. Nguyễn Xuân Đông, Mr. Dương Văn Mậu, along with Mr. Vũ Mạnh Hùng, Mr. Hoàng Thiệu Bảo, and Mr. Cao Hải Tháp, have been nominated by Vinaconex to the Board of Directors of Vietnam Water and Environment Investment Corporation (Viwaseen, stock code: VIW).

Viwaseen will finalize its personnel at the Extraordinary General Meeting of Shareholders in 2026, scheduled for the morning of January 29, 2026, at Viwaseen Tower, 48 Tố Hữu Street, Đại Mỗ Ward, Hanoi.

Vinaconex recently gained controlling interest in Viwaseen after acquiring nearly 57 million VIW shares, equivalent to 98.16% of the capital, from the State Capital Investment Corporation (SCIC) in late 2025.

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