Six ultra-wealthy people have combined $17 billion

Six Vietnamese businesspeople have been named in Forbes’ list of the world’s richest billionaires.

Six ultra-wealthy people have combined $17 billion

FPT President Truong Gia Binh

The richest dollar billionaire was Pham Nhat Vuong, in the 344th position in the world with $7.3 billion. This is the ninth consecutive year that Vuong has been listed on Forbes’ list of wealthiest people. He ranked 286th last year with asset value of $5.6 billion.

The second and third positions belonged to CEO Vietjet Nguyen Thi Phuong Thao with $2.8 billion and President of Hoa Phat Group Tran Dinh Long with $2.2 billion.

The three other billionaires are President of Techcombank Ho Hung Anh with $1.6 billion, President of Thaco Tran Ba Duong with $1.6 billion, and President of Masan Group Nguyen Dang Quang with $1.2 billion.

Of the six Vietnamese billionaires, four started their business in Eastern Europe, namely Vuong, Thao, Quang and Anh. Only Tran Ba Duong’s enterprise has not listed shares on the bourse.

The total assets of the six billionaires amount to $17 billion, and their average age is 55.

FPT creates 200 dollar millionaires

Truong Gia Binh, President of FPT, the largest Vietnamese IT corporation, said at the 2021 shareholders’ meeting that FPT created 200 dollar millionaires when listing its shares on the bourse.

He said employees at FPT all have comfortable lives, drive cars, and can fund their children’s overseas study. Most of the managers of technology firms in Vietnam come from FPT, he said.

The richest dollar billionaire was Pham Nhat Vuong, in the 344th position in the world with $7.3 billion. This is the ninth consecutive year that Vuong has been listed on Forbes’ list of wealthiest people. He ranked 286th last year with asset value of $5.6 billion.

In 2020, FPT attracted global leading technology engineers in AI and Cloud Computing to create added value for projects in the long term. It has been supplementing and rotating key personnel that has led the group to overcome difficulties and maintain growth.

FPT targets a 16.4 percent turnover growth rate in 2021 and pre-tax profit growth rate of 18 percent. The technology division will continue to be the major driving force of the corporation with a focus on digital transformation services and Made-by-FPT products and solutions.

Big bank plans to make profit of $1 billion

Techcombank, the commercial bank owned by dollar billionaire Ho Hung Anh, has released documents for the 2021 shareholders’ meeting with the ambitious plan of making a pre-tax profit of VND20 trillion this year, up by 25 percent over the last year.

If succeeding, Techcombank will be the second bank in Vietnam and the first joint stock bank to make a profit of $1 billion.

 

The plan will be implemented on the basis of tentative credit growth rate of 12 percent and capital mobilization capital growth rate of 14.7 percent.

Despite the high profit in 2020, Techcombank intends not to pay dividend to shareholders

Shark Hung’s business sets $1 billion goal

Cen Land’s President Nguyen Trung Vu said at the 2021 shareholders’ meeting that there have been a lot of positive signs so far this year, si the board of management has proposed increasing the business targets.

Cen Land’s HCM City Branch will begin distributing Vingroup’s projects. The commission it can expect from distributing products for large investors such as Vinhomes and Novaland is just 3 percent, but this will help Cen Land approach high-end customers. The profit will mostly come from exclusive and low-profile projects.

Vu said Cen Land’s net revenue may reach VND8.5-10 trillion in 2022, including VND2 trillion from brokerage service. Cen Land wants to become the largest distributor of Vinhomes in 2021-2022 with revenue of up to $1 billion.

Targets for 2021 are VND5 trillion in revenue, up by 136 percent and VND408 billion in post-tax profit, up by 36 percent.

KBC President promises high growth at shareholders' meeting

Dang Thanh Tam, President of KBC, an industrial real estate developer, speaking at the company’s 2021 shareholders’ meeting, said that “KBC has never been so happy, but it will be even happier in upcoming days”.

He went on to say that provincial authorities now welcome KBC and that anyone leaving KBC today will regret their decision tomorrow.

KBC plans to obtain consolidated revenue of VND6.6 trillion this year and post-tax profit of VND2 trillion, which is 3 times and 6.25 times higher than 2020.

The group plans to speed up investments in industrial zone projects of Quang Chau, Nam Son Hap Linh, Tan Phu Trung and Trang Due 3, and urban area projects of Phuc Ninh, Trang Due and Trang Cat.

It also plans to increase capital and make private offering this year. However, a detailed plan has not been released. 

Bao Anh

Owner of US$7 billion system, billionaire Nguyen Dang Quang takes new step

Owner of US$7 billion system, billionaire Nguyen Dang Quang takes new step

After Masan Group's acquisition of Vingroup’s retail chain, Masan’s Nguyen Dang Quang took great steps to master the $7 billion system and form an ecosystem for Vietnamese people.

Billionaire concludes major deal

Billionaire concludes major deal

FLC of billionaire Trinh Van Quyet has seen the share price soar amid the HCM City Stock Exchange’s (HOSE) notice about the businessman’s plan to buy 15 million shares.

 
 

Other News

.
Electricity prices still not falling despite oversupply
Electricity prices still not falling despite oversupply
FEATUREicon  27/05/2021 

The Electricity of Vietnam’s (EVN) latest report showed that the Covid-19 pandemic has led to a decrease in electricity demand. The real electricity output in 2020 was 247 billion kwh and the additional charge growth rate was 3 percent.

Goods face strict customs inspections as smugglers continue to violate laws
Goods face strict customs inspections as smugglers continue to violate laws
FEATUREicon  27/05/2021 

The General Department of Customs (GDC) said that risks in transit services continue to exist as smugglers try to carry prohibited goods into Vietnam.

Vietnam's post-pandemic economy
Vietnam's post-pandemic economy
FEATUREicon  27/05/2021 

As the Covid-19 pandemic persists, Vietnam's economy will still face many difficulties, but the country has the potential to increase productivity and develop at a higher rate than many other countries.

Share prices rise, strong cash flow emerges
Share prices rise, strong cash flow emerges
FEATUREicon  26/05/2021 

Vietnam’s stock market made a spectacular breakthrough in the first months of the year with the VN Index staying at the 1,200 point threshold and some blue-chip prices strongly increasing.

Vietnam considers tracking bracelets for quarantined persons
Vietnam considers tracking bracelets for quarantined persons
FEATUREicon  26/05/2021 

The Ministry of Information and Communications (MIC) wants people to wear a tracking wristband during and after their concentrated quarantine period. The estimated production cost is $35.

Taxing unoccupied villas: one solution for creating fair housing market
Taxing unoccupied villas: one solution for creating fair housing market
FEATUREicon  26/05/2021 

A reasonable taxation policy is expected to help settle several problems, including excessive investment in high-end apartment and villa projects, and speculation buying.

Hard-hit bsinesses still paying high interest on loans
Hard-hit bsinesses still paying high interest on loans
FEATUREicon  25/05/2021 

The latest Covid-19 outbreak has pushed enterprises into new difficulties at a time when it is nearly impossible to access cheap capital sources.

Litchis sell well on e-commerce sites
Litchis sell well on e-commerce sites
FEATUREicon  26/05/2021 

Nguyen Van Lan’s 2-hectare litchi orchard in Luc Ngan district in Bac Giang province is ready for harvest. However, he still doesn’t know what to do to sell all the 40-50 tons of litchis amid the Covid-19 outbreak.

Tourism sector suffers another hit from recent Covid outbreak
Tourism sector suffers another hit from recent Covid outbreak
FEATUREicon  25/05/2021 

Businesses have sustained a new blow from the fourth recurrence of Covid-19.

People's spirit in fighting Covid-19
People's spirit in fighting Covid-19
FEATUREicon  25/05/2021 

Recently, some businessmen told me that they are willing to contribute money to the Government to buy vaccines against the SARS-CoV-2 virus if the Government launches a fund to supplement the budget shortage.

KPIs for National Assembly deputies considered
KPIs for National Assembly deputies considered
FEATUREicon  24/05/2021 

The National Assembly should study and develop a set of key performance indicators (KPIs) of delegates, including qualitative and quantitative values.

Vietnamese litchis: five years of waiting for the nod to enter Japan
Vietnamese litchis: five years of waiting for the nod to enter Japan
FEATUREicon  22/05/2021 

In mid-June, Vietnam’s litchis officially hit the supermarket shelves in Japan, priced at VND500,000 per kilogram and selling out after several hours.

"Tiger" mom in Hanoi helps daughter win Harvard scholarship
"Tiger" mom in Hanoi helps daughter win Harvard scholarship
FEATUREicon  22/05/2021 

Ngoc is very sparing with her praise. She said that compliments may make her kids conceited and believe they are good enough and don't need to continue to study.

Vietnam’s universities keen to 'go digital'
Vietnam’s universities keen to 'go digital'
FEATUREicon  22/05/2021 

Truong Tien Tung, former rector of the Hanoi Open University, one of the first schools going digital with 15,000 students following online courses, said he was familiar with the concept of ‘open education’ and ‘distance education’ as early as 1994.

Hanoi expands suburban areas, aims for sustainable development
Hanoi expands suburban areas, aims for sustainable development
FEATUREicon  22/05/2021 

Urban development in the 1960s and 1970s in Singapore and Seoul could be valuable lessons for Hanoi to map out its sustainable development.

Five female provincial Party Committee Secretaries run for National Assembly election
Five female provincial Party Committee Secretaries run for National Assembly election
FEATUREicon  21/05/2021 

Five female provincial Party Committee Secretaries have made strong commitments and shown their priority issues while running for election to the 15th National Assembly (NA).

Former rector says universities should share lesson plans, resources to improve quality
Former rector says universities should share lesson plans, resources to improve quality
FEATUREicon  25/05/2021 

Educators in Vietnam need to share resources, materials and experiences to enhance educational outcomes, said Do Van Dung, former rector of the HCMC University of Technology and Education.

20 years for Vietnam to become rich and strong
20 years for Vietnam to become rich and strong
FEATUREicon  24/05/2021 

If developing countries do not make breakthroughs during the golden population period, they will find it difficult to overcome the middle-income trap to become developed countries.

VN e-commerce platforms may lose home ground
VN e-commerce platforms may lose home ground
FEATUREicon  24/05/2021 

Vietnamese businesses need to prepare and move ahead to win the e-commerce race.

Renowned duckling ‘staff’ hang out at florist shop
Renowned duckling ‘staff’ hang out at florist shop
FEATUREicon  22/05/2021 

The pair of lovely ducks has become a source of joy for traders and children in a corner of Thiec market.

 
 
 
Leave your comment on an article

OR QUICK LOGIN