Real estate mogul remains Vietnam’s richest person

December 30th, 2011

Pham Nhat Vuong, head of real estate firm Vingroup, remained the richest Vietnamese this year in terms of stock assets.

As of December 30, Vuong owned 168.5 million shares worth around VND16.68 trillion (US$797.1 million).

Vuong held the top position for the 2nd year in a row with his total assets increasing by VND905 billion ($46.98 million) from last year.

The stock value Vuong owned in the last trading session of the Vietnamese stock market in 2011 was almost equal to the combined assets of the 5 runner-ups on the list.

Vuong, a member of the Board of Directors of Vincom Joint Stock Co. (coded VIC) owns shares in both VIC and Vinpearl Joint Stock Co. (coded VPL).

In preparation for the merging of VPL and VIC, trading of VPL shares has been halted since December 23.

The value of one VPL share is equal to 0.77 of the value of a VIC share.

Following Vuong were Doan Nguyen Duc, Chairman of Hoang Anh Gia Lai Group (coded HAG), with total share value of VND4.348 trillion.

Duc’s stock value dropped almost 70 percent compared to last year due to the sharp fall in the value of HAG shares as a result of the stagnant Vietnamese real estate and stock markets in 2011.

Vuong’s wife, Pham Thu Huong, jumped from No. 6 to No. 3 with VND2.89 trillion, up VND550 billion compared to last year.

Huong was also the richest woman in Vietnam this year.

The remaining positions were Masan Group’s shareholders, Nguyen Hoang Yen and Ho Anh Hung, whose stock values leaped from No. 12 and 13 last year to No.4 and 6 this year with VND1.97 trillion and VND1.789 trillion respectively.

At No.5 was Pham Thuy Hang, the sister of Pham Thu Huong, who owned VND1.9 trillion worth of VIC shares.

The rise of OGC shares in the last trading session helped Board Chairman of Ocean Group, Ha Van Tham overtake Nguyen Thi Nhu Loan, Quoc Cuong Gia Lai’s head, to No. 10 with VND862 billion.

Loan dropped to No.12 with VND814 billion.

Along with the leave of Loan from the Top 10 were 2 familiar faces in recent years, Nguyen Duy Hung, Chairman of Saigon Securities Co., and Dang Thi Hoang Yen, Chairwoman of Tan Tao Group, who ranked at No.22 and 37 this year with VND443.5 billion and VND247 billion respectively.

Along with Dang Thi Hoang Yen, her brother Dang Thanh Tam, Chairman of Kinh Bac Urban Investment and Development Corp., also suffered big losses of more than 70 percent in stock asset value compared to 2010 to nearly VND1.4 trillion.

Tam, the former richest Vietnamese in terms of stock assets in 2007, was ranked at No.8.

Though real estate developers had a difficult year in 2011, the Top 100 richest on the stock market included nearly 30 representatives from real estate, a dominant presence compared to other sectors.

The total assets of these 30 individuals were over VND34 trillion, equal to nearly 63 percent of the total assets of the Top 100.

The Top 100 this year said goodbye to almost 20 members who either sold their stocks to avoid losses, converted stocks into family businesses or simply suffered from falling stock prices.

In 2010, the number of millionaires in US dollar was 450. This year, it dropped to 270.

The number of individuals with assets of over VND1 trillion decreased from 19 to 9, while the richest person, Pham Nhat Vuong, didn’t hit the mark of an “US dollar billionaire.”

source form: tuoitrenews