'Ageless' female presidents, nearly 90 years old still running trillion-dollar businesses on the stock exchange

Many female entrepreneurs in their 90s play an important role in managing and continuing to grow their businesses - Photo: QUANG DINH

83-year-old female president reports sharp increase in profits

The oldest female entrepreneur on the stock exchange is Ms. Nguyen Thi Nhung, born in 1941. At 83 years old, Ms. Nhung is the Chairwoman of the Board of Directors of Son A Dong Joint Stock Company (ADP).

ADB was established in 1970 in Saigon, one of the two largest manufacturers in the Southern region of Vietnam before 1975.

In 1976, Ms. Nhung took over the factory and in 2000 became a member of the Board of Directors and general director of the company.

In 2020, Ms. Nhung resigned as chairwoman, but more than two years later, the businesswoman returned to the position of head of ADP's Board of Directors.

ADP has a charter capital of more than VND230 billion. According to the management report, as of June 2024, Ms. Nhung holds more than 2.3 million ADP shares, equivalent to more than 10% of the company's capital.

Ms. Nguyen Thi Nhung at an annual general meeting of shareholders of ADP

Mr. Vo Hong Ha - the company's general director and also Ms. Nhung's son, holds more than 2.5 million shares, accounting for 11% of capital.

Mr. Tran Buu Tri, the chairwoman's son-in-law, also holds more than 11.36% of ADP's capital, equivalent to 2.61 million shares.

According to the company's report, by the end of 2023, ADP will have a total of 150 employees. The average income of employees will increase from 11 million VND in 2021 to more than 18.5 million VND in 2023.

On the stock exchange, each ADP share is traded at VND30,650, up more than 100% after one year in the context of improved business results.

The recently released third quarter 2024 financial report shows that Ms. Nhung's company recorded revenue of 628 billion VND, an increase of 80% over the same period, and after-tax profit of nearly 69 billion VND, nearly doubled.

Female president in her 90s receives huge income, far surpassing bank 'boss'

Another U90 businesswoman who is also famous on the stock market is Ms. Nguyen Bach Tuyet, Chairwoman of the Board of Directors and Deputy General Director of Vietnam Disinfection Joint Stock Company (VFC).

Ms. Tuyet was born in 1942 in Quang Ngai province, and is said to have a professional qualification as an agricultural engineer. Before starting her business career, the 82-year-old chairwoman worked for a long time as the deputy director of the Plant Protection Department (1976 - 1984).

Since 1985, Ms. Tuyet has held many different positions at VFC. She has held the position of Chairman since 2009.

The management report for the first 6 months of 2024 said that Ms. Tuyet only holds 1.35% of capital at VFC. The chairman's two biological children, Nguyen Hoang Anh and Nguyen Hoang Linh, also own a small percentage, 0.55% and 0.38% of the company's capital, respectively.

Ms. Nguyen Bach Tuyet - Photo: VFC

Than Trong Hoan My, Ms. Tuyet's daughter-in-law, holds 3.7% of the capital. However, most of Ms. Tuyet's family members do not hold any positions in the Board of Directors or the Board of General Directors.

In recent years, VFC's business results have continuously grown. In 2023, this agricultural enterprise's revenue reached VND 3,262 billion, an increase of nearly 10% over the previous year, and after-tax profit reached nearly VND 300 billion, an increase of nearly 30%.

In the first half of this year, VFC's revenue reached nearly VND2,000 billion, up 30% over the same period. Profit after tax was VND160 billion, up 43%.

With a positive business performance, in the first quarter, Ms. Tuyet received an income of 22.35 billion VND, 4.5 times higher than the same period last year. This income level is among the highest on the stock market, surpassing many bank executives.

Among the list of female entrepreneurs who are still enthusiastic about business despite their age is Ms. Nguyen Thi Hoe, chairwoman of Kova Paint Group. Ms. Hoe is called by many as the "queen" of Vietnamese paint.

In a press interview, Ms. Hoe once said that despite her age, she still travels continuously from Ho Chi Minh City to Hanoi, then Singapore, Cambodia, Malaysia... to manage production at factories.

Other female entrepreneurs in their 80s include Ms. Nguyen Thi Mai Thanh - chairwoman of REE (72 years old), or Ms. Ngo Thi Thong - chairwoman of Ngo Han (72 years old).

Source: https://tuoitre.vn/nhung-nu-chu-cich-khong-tuoi-u90-tuoi-van-dieu-hanh-co-ngoi-nghin-ti-tren-san-chung-khoan-20241020104646365.htm