VietNamNet Bridge - Although he holds only 10 shares in Masan Group (MSN), Masan Chairman Nguyen Dang Quang and his relatives have lost hundreds of billions VND in recent days due to the impact of the rivalry between traditional and industrial fish-sauce producers, reported Infonet.

Masan Group Chairman Nguyen Dang Quang

Although Masan representatives confirmed that it did not stand behind the campaign to smear the traditional fish sauce, the price of MSN shares still fell in recent days.

Since October 10, the price for MSN shares increased only on October 14. The MSN share lost VND2,500/share to stand at VND66,000/share ($3.2), equivalent to a decline of 3.6%.

The biggest drop took place on October 17th with a fall of 2.20%. It is noteworthy that this was the day the Vietnam Association for Protection of Consumers (Vinastas) announced the results of its survey on arsenic level in fish sauce, which is said to be beneficial for Masan.

Even on October 24th, after a local newspaper admitted mistakes and removed a series of articles about the concentration of arsenic and chemicals in fish sauce, MSN shares continued to fall 0.45%.

Quang, Chairman of Masan Group, owns only 10 MSN shares, equivalent to VND660,000 ($33) but he indirectly holds 242,921,247 MSN shares (32.53%) through a subsidiary of Masan Group - Masan Corp. Quang’s wife - Nguyen Hoang Yen - also owns 28,276,823 MSN shares (3.79%) and Quang’s mother - Nguyen Quy Dinh – has 1,327,264 shares of MSN (0.2%).

Thus, Quang and his family directly and indirectly own 272,525,344 MSN shares, or 36.5% of the 745,876,243 MSN shares on the market.

Based on the market price on October 24, the total value of MSN shares owned by Quang’s family was VND17.986 trillion, down by VND681.31 billion (over $34 million) since October 10th.

In addition to owning shares in Masan Group and its affiliates, Quang and his family also own a 1.5% stake in Techcombank.

Nam Son