Real estate company is losing money, but the boss still has billions in income.

(Dan Tri) - Novaland's leader, Danh Khoi, received a billion-dollar salary despite the company's losses. Some other businesses with growing profits also recorded high incomes for their leaders.

In the first 9 months, Novaland Group (stock code: NVL) lost nearly VND4,377 billion, while in the same period last year it lost VND957 billion. However, the income of the board of directors remained high.

Mr. Ng Tech Yow - General Director of Novaland Group - received a salary of more than 3.7 billion VND, the highest in the executive board. On average, this foreign CEO receives about 411 million VND per month, 21% higher than the same period last year.

Another member, Mr. Duong Van Bac - Deputy General Director and Chief Financial Officer - also received a salary of nearly 2.2 billion VND, equivalent to 244 million VND/month. A few days ago, Mr. Bac was appointed General Director to replace Mr. Ng Tech Yow. Meanwhile, Mr. Ng Tech Yow focused on performing his duties as a member of the Board of Directors (BOD) of Novaland.

In the Board of Directors, Mr. Bui Thanh Nhon - Chairman of the Board of Directors - received the highest remuneration, at 900 million VND, 13% higher than the same period last year. The 3 independent members of the Board of Directors, Pham Tien Van, Hoang Duc Hung and Nguyen My Hanh, received 450 million VND.

Another case is Danh Khoi Group Joint Stock Company (stock code: NRC) lost nearly 6 billion VND in the third quarter, accumulated loss of more than 16 billion VND in 9 months, the board of directors still had high income. In 9 months, the total income of the company's board of directors still reached more than 4 billion VND, higher than the revenue of 3.8 billion VND.

Mr. Le Thong Nhat - Chairman of the Board of Directors - received the highest income, at 872 million VND. In the executive board, Mr. Nguyen Huy Cuong - General Director - had an income of more than 837 million VND. Mr. Nguyen Huu Quang - Deputy General Director - received more than 813 million VND.

Real estate business leaders receive high salaries (Illustration: Tien Tuan).

At Phat Dat Real Estate Development Joint Stock Company (stock code: PDR), the management's third quarter income remained stable in the context of revenue of just over VND2.6 billion, down 99% compared to the same period last year. Thanks to the sale of shares in associated companies along with other income (late payment fines), the company's profit reached over VND51 billion, down 50% compared to the same period last year.

During the quarter, General Director Bui Quang Anh Vu received a salary of more than 1.4 billion VND, equivalent to the previous year. Mr. Nguyen Van Dat - Chairman of the Board of Directors - received a salary of nearly 485 million VND, equivalent to the previous year.

On the other hand, some businesses recorded good profit growth compared to the same period last year and their leaders' income also increased. At An Gia Real Estate Investment and Development Joint Stock Company (stock code: AGG), General Director Nguyen Thanh Son was paid nearly 1.3 billion VND in salary for 5 months of work. On average, Mr. Son received 260 million VND per month.

Mr. Nguyen Ba Sang - Chairman of the Board of Directors - had an income of nearly 1.4 billion VND, nearly 4 times higher than the same period last year. The income of An Gia's leaders increased in the context of this enterprise recording good business results in the first 9 months. The profit in the first 9 months reached nearly 240 billion VND, completing the yearly plan.

At Dat Xanh Group Joint Stock Company (stock code: DXG), General Director Bui Ngoc Duc's salary in 9 months was more than 3 billion VND, an increase of 50% compared to the same period last year. In contrast, other management members had their salaries reduced by about 50%, receiving about 5 billion VND. Accumulated in 9 months, Dat Xanh recorded a profit after tax of 244 billion VND, an increase of 64% compared to the same period last year.

With the third quarter profit more than 3 times higher than the same period last year, reaching nearly 110 billion VND, the leaders of Van Phu - Invest Joint Stock Company (stock code: VPI) still received an income level not much different from the same period last year.

Mr. To Nhu Toan - Chairman of the Board of Directors - received 603 million VND, Mr. To Nhu Thang - Vice Chairman of the Board of Directors - received 483 million VND. Mr. Trieu Huu Dai - General Director - received 440 million VND. The total income paid to members of the Board of Directors and the Board of General Directors was more than 3.3 billion VND.

Source: https://dantri.com.vn/kinh-doanh/cong-ty-dia-oc-thua-lo-sep-van-co-thu-nhap-tien-ty-20241107085431491.htm