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Saturday, January 28, 2023

Tri Viet Securities has new board chairman

The Saigon Times

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HCMC – Pham Thanh Tung has been picked as new board chairman at Tri Viet Securities Joint Stock Corporation (TVB) for the 2022-2024 tenure, with effect from December 2, replacing his predecessor Bui Minh Tuan.

Tuan resigned from his post of TVB board chairman the same day. He earlier tendered his resignation, citing health reasons.

Tuan was appointed to the post of TVB board chairman on July 6 this year. He was also a board member of Tri Viet Asset Management Corporation JSC, the parent firm of TVB.

Regarding Tung, he was serving as vice chairman of the TVB board before being elected TVB chairman. He has over 20 years of experience in finance and securities.

Prior to his appointment, Tung had registered to sell two million TVB shares from November 29 to December 18. If the transactions are done, he could earn some VND11.2 billion, adding that his ownership in TVB would decline from 2.48% to 0.69%, or from over 2.77 million TVB shares to around 77,000 shares.

Closing the trading session today, December 6, TVB lost 6.9% over the session earlier at VND5,260.

The local stock market turned bearish today.

The benchmark VN-Index of the HCMC bourse fell 44.98 points, or 4.11%, against the previous session at 1,048.69, with decliners far outnumbering gainers by 391 to 87.

More than 1.4 billion shares worth over VND23 trillion changed hands on the southern bourse, improving 18% in volume and 12% in value day-on-day. Shares transacted in block deals accounted for around VND1.8 trillion of the total value.

Most stocks that made a strong rebound recently fell steeply, such as stocks in real estate, construction, securities, banking, and steel sectors.

Meanwhile, lots of agriculture and fishery stocks bucked the market downtrend. Among them, HAG, VHC, ABT and ANV closed at their upper limits.

On the northern bourse, increased selling pressure left the HNX-Index closing in negative territory. With 51 winners and 131 losers, the index declined 7.16 points, or 3.25% versus yesterday at its intraday low of 212.8.

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