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Ho Chi Minh City
Tuesday, May 17, 2022

Two chairmen depart Thuduc House within two months

The Saigon Times

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HCMC – Lu Minh Son resigned as chairman of Thuduc Housing Development Corporation (Thuduc House), which is listed on the Hochiminh Stock Exchange under the code TDH, starting from today, March 14, over one month after he was named the caretaker leader.

Earlier, Le Chi Hieu had tendered his resignation from his post as chairman of Thuduc House and its affiliate Foreign Trade Development and Investment Corporation of HCMC (Fideco) from February 8 this year, citing his health problem as the main reason.

On the same day, Fideco appointed Tran Bao Toan as new chairman at Fideco. Toan previously served as vice chairman at Thuduc House.

As for TDH, the company’s management board picked Lu Minh Son to temporarily serve as TDH chairman from February 9. Concurrently, Son was relieved from his post of vice general director at TDH.

However, Son recently requested to resign as TDH chairman and withdraw from the TDH management board due to personal issue.

Prior to Le Chi Hieu’s resignation as TDH chairman, TDH had reported changes in some key posts such as general director, vice general director, and chief accountant, as some predecessors were linked to some legal issues. Recently, Le Chi Thu Khoa, younger brother of Hieu, left TDH from March 1.

Closing the session today, TDH shed 0.87% to VND11,350.

In related news, the benchmark VN-Index lost 20.29 points, or 1.38% against last Friday to close at 1,466.25, with 114 advancers and 349 decliners.

Turnover on the southern bourse both contracted in volume and value compared to the previous session at 858.56 million shares and nearly VND27.1 trillion. Shares traded in block deals contributed more than VND1.5 trillion to the total value.

In the VN30 basket, up to 22 stocks ended in negative territory and only six others made gains. Among the winners, local low-cost carrier VJC was the biggest advancer as it expanded 4.7%.

On the northern bourse, strong sell-off drove down the HNX-Index. With 94 winners and 157 losers, the index fell 5.44 points, or 1.22% over the session earlier at 442.2.

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