Berjaya Vietnam CEO recommended as Vincom Retail director

By Minh Son   April 2, 2024 | 01:52 am PT
Berjaya Vietnam CEO recommended as Vincom Retail director
Berjaya Vietnam CEO Nguyen Hoai Nam. Photo courtesy of Nam Huong Media
The board of directors of mall operator Vincom Retail has recommended Nguyen Hoai Nam, CEO of property developer Berjaya Vietnam, to be one of its members.

Shareholders are set to vote on the decision to make Nam a director at its upcoming annual general meeting, the company said in a statement.

They will also vote on dismissing chairwoman Thai Thi Thanh Hai and director Le Mai Lan from their posts, according to recommendations from the board.

Nam is the CEO of Berjaya Vietnam, a subsidiary of Malaysia’s conglomerate Berjaya Corporation Berhad.

Nam, 54, graduated from University of Southern California. He was previously CEO of 3C Corporation, director of finances at construction and architectural firm TTT Corporation, and CEO of investment firm Viet Au Investment.

In 2006 he became the CEO of Berjaya Vietnam, which owns property such as Sheraton Hanoi, Long Beach Phu Quoc resort, and Hanoi City Garden residential complex.

Vietnam’s biggest private conglomerate Vingroup last month said it would reduce its ownership in Vincom Retail from over 60% to 18.8%.

Vincom Retail posted revenues of VND9.79 trillion (US$396 million) last year, up 33% from 2022. Its post-tax profit rose 59% to VND4.41 trillion.

It operates 83 malls in 44 locations and plans to open six more this year.

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