VnExpress newspaper has drawn up a list of the100 richest Vietnamese individuals after considering prospectuses, financial reports and related documents released by listing companies at the end of 2006. Each of the 100 richest personalities has the asset value of more than $2mil, and two of them can be members of the “$100mil” club.

The assets have been calculated based on the total numbers of shares these persons hold in listing companies (the reference share price was the closing price on December 29, 2006, the last transaction of the last year). The assets of the individuals do not include the properties, fixed assets and the shares they hold in unlisted companies.

By December 29, 2006, there had been 193 share items listed on the bourse with the total market capitalisation of VND220tril ($13.75bil).

In the prospectuses released by 150 companies, there are 650 people who hold biggest share proportions in big companies. They are founding shareholders, members of management boards, director boards and relatives. Their total assets reach VND37.2tril ($2.32bil) (share market prices of December 29, 2006), or 4% of Vietnam’s GDP.

The 100 richest Vietnamese people in the stock market out of the mentioned 650 names hold VND34tril ($2.12bil) worth of shares of the companies, operating in the fields of real estate development, finance and banking, power, freight and forwarding, technologies and telecommunications. Members of the top five all have the securities assets of more than VND1tril ($62.5mil) each.

It is quite interesting that there is a balance between the wealthiest men and women: 42 women and 58 men. However, the total assets that millionairesses own are less than a half of the assets held by millionaires, just VND9.8tril ($0.612bil).

The Corporation for Financing and Promoting Technology (FPT) officially began listing on the bourse on December 13, 2006. FPT share prices have increased by 46-fold compared to the face value, raising the company’s value to nearly VND28tril ($1.75bil), thus also raising the total assets of FPT’s leaders. 17 FPT members are listed among the top 100 richest persons in Vietnam, who hold the total assets of VND12tril ($0.75bil).

Truong Gia Binh, Chief Executive Officer and Chairman of FPT, who leads the FPT group of rich people, also tops the 100 richest Vietnamese people. The man now holds 5.12mil shares of FPT worth VND2.4tril ($150mil) (the share market price was VND460,000 on December 29, 2006).

Two other leaders of FPT rank second and third among the top 100 richest persons: Deputy CEOs and Vice Chairmen Le Quang Tien and Bui Quang Ngoc. Mr Tien is a member of the “$100mil club” as he holds 3.71mil shares worth VND1.7tril ($106mil), while Mr Ngoc holds VND1.2tril ($75mil). Other members of the management board also hold more than VND500bil ($31.25mil) worth of FPT shares.

Mr Truong Gia Binh

The 4^th and 5^th richest persons in Vietnam are businessmen in the seafood industry. Chairman and Director General of Minh Phu Seafood Company Le Van Quang, 49, now holds 14.5mil shares of MPC, worth nearly VND1.145tril ($71.6mil). His daughter, Le Thi Diu Minh, born in 1986, now holds 6mil shares of MPC, worth VND474bil ($29.62mil). Diu Minh is also a member of the Minh Phu Company.

Chu Thi Binh, who is also a leader of Minh Phu Company and holds the same volume of shares as Mr Quang, is the richest woman in Vietnam now.

The second richest woman in Vietnam is Chairwoman and Director General of REE (Refrigerator Engineering Enterprise) Nguyen Thi Mai Thanh. She has in her hands nearly 8mil REE shares, worth VND106bil ($6.62mil). She also has 10.9mil shares of Sacombank, worth VND781.34bil ($48.83mil), and therefore, the total securities assets she has are VND887bil ($55.43mil).

Ms Thanh’s husband, Nguyen Ngoc Hai, who does not directly manage the two companies, but holds 1.22mil REE shares and 3.17mil Sacombank shares, worth VND392bil ($24.5mil), the 34^th richest person in Vietnam.

There are many cases, in which brothers and families’ members hold key positions in the same companies. Brothers Tran Kim Thanh and Tran Le Nguyen of Kinh Do Confectionary Company are an example. Mr Thanh is the Chairman of Kinh Do Joint Stock Company, Chairman and Director General of the Northern Kinh Do Food Processing Company, Chairman of Saigon Kinh Do Food Company. Mr Nguyen holds the posts of Deputy Chairman and Director General of Kinh Do Joint Stock Company.

Both the parent Kinh Do Company and its subsidiary Northern Kinh Do Company are listing on the bourse. In general, Mr Thanh holds nearly 2.4mil NKD shares and 3.7mil KDC shares, worth VND836bil ($52.25mil), the 10^th richest person on the list.

The prospectus released by the Kinh Do Northern Company does not mention the volume of NKD shares that Mr Nguyen holds. However, if only considering the volume of KDB Mr Nguyen has, which is worth VND525.4bil ($32.83mil), it is enough to make Mr Nguyen the 24^th richest person.

Mr Tran Le Nguyen (left)

Another couple of relatives among the richest people are Dang Thi Hoang Yen and Dang Thanh Tam in the Tan Tao Industrial Zone Development Company (ITA). Mrs Yen is the chairwoman, while her brother Dang Thanh Tam is the Director General of the company. Each of them holds 4.2mil shares of ITA, worth VND371.7bil ($23.23mil), the 35^th and 36^th richest persons.

However, the total assets of the two persons are far below the assets of their relatives. Dang Thi Hoang Yen’s daughter, Nguyen Phuong Anh, now holds 8.4mil ITA shares, which makes her the 12^th richest person in Vietnam, 23 grades above her mother and mother’s brother. Wife of Dang Thanh Tam, Mrs Nguyen Thi Kim Thanh, holds 5.2mil ITA shares, valued at $460bil ($28.75mil), ranks the 30^th among 100 richest people. Meanwhile, the mother of the two businessmen, Dang Thanh Tam and Dang Thi Hoang Yen, Mrs Hoang Thi Kim Tuyen, holds 4.71mil shares.

There is only one foreigner listed among 100 richest persons in the stock market, Pang Tee Chiang, Chairman and Director General of Interfood. With more than 5.5mil IFS shares, Mr Chiang has VND239bil, and ranks 43rd among the top 100 millionaires in Vietnam.

Top 20 securities millionaires in Vietnam

Source: VNE