Tan Viet Securities replaces general director and deputy general director

Two senior staff of Tan Viet Securities were dismissed and had their labor contracts terminated on the same day, February 28.

The Board of Directors of Tan Viet Securities Company (TVSI) has just approved the dismissal and termination of labor contracts with General Director Nguyen Viet Cuong and Deputy General Director Ta Minh Phuong, effective February 28.

Mr. Nguyen Viet Cuong joined TVSI in 2007 and became Chairman of the Board of Directors and General Director from early October 2022, after the sudden passing of the late Chairman Nguyen Tien Thanh.

In the mid-2023 shareholders' meeting, the position of chairwoman was transferred to Ms. Tran Thi Cam Hanh. Ms. Hanh also replaced Mr. Cuong as CEO since February 28.

Mr. Nguyen Viet Cuong, former CEO of Tan Viet Securities. Photo: TVSI — Mr. Nguyen Viet Cuong, former CEO of Tan Viet Securities. Photo: *TVSI*

Tan Viet Securities (TVSI) was established in late 2006, operating in the securities sector, focusing on providing brokerage services, financial services, and investment portfolio management. The company's charter capital is over VND 2,600 billion.

TVSI is one of the bond issuance consultants of An Dong Investment Group and is a business related to the Van Thinh Phat scandal.

In 2023, TVSI's revenue dropped sharply by 92%, from more than VND 2,500 billion in 2022 to more than VND 200 billion. The company's net loss was nearly VND 400 billion, while the previous year it made a profit of VND 148 billion.

The Board of Directors assessed 2022 as a year of ups and downs with many negative fluctuations, including incidents with the company that "severely impacted" business operations. From October 2022, TVSI focused on handling the crisis and restructuring business units by closing and merging branches.

TVSI was suspended from purchasing securities on the listed stock market and the registered trading market from the end of June to the end of September 2023.

Minh Son

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