How is the female CEO who received a salary of 17 billion VND doing now?

Dream income for many years

Ms. Nguyen Thi Thu Huong - Member of the Board of Directors (BOD) and General Director of Kinh Bac Urban Development Corporation - JSC (stock code: KBC) received a salary of nearly 17 billion VND in 2023, an increase of 70% compared to the previous year.

Ms. Huong's income is nearly 3 times higher than Mr. Pham Phuc Hieu - Deputy General Director, Chief Accountant and more than 4 times higher than Ms. Nguyen My Ngoc - Deputy General Director.

This CEO's income is much higher than that of similar positions in many other real estate companies. Vinhomes' "female general" - Ms. Nguyen Thu Hang - also receives a salary 18% lower than Ms. Huong, at nearly 14 billion VND in 2023.

In the first half of this year, Ms. Huong received an income of more than 6.4 billion VND. This amount has decreased by 54% compared to the same period last year.

Ms. Huong was introduced by Kinh Bac Urban Area as born in 1971, has been with the company since its inception, was elected as a member of the Board of Directors and General Director since 2012. Ms. Huong has a PhD in Economics, a Master of Business Administration, and is fluent in Chinese and English.

According to the company, Ms. Huong has a lot of experience in diplomacy, plays an important role in promoting investment relations with large corporations as well as controlling business activities in each industrial park.

Ms. Nguyen Thi Thu Huong (purple shirt) - General Director of Kinh Bac Urban Area (Photo: KBC).

According to Kinh Bac Urban's first-half management report, Ms. Huong owns 399,304 KBC shares, accounting for 0.052%. Relatives of Ms. Huong's family do not own or own an insignificant amount of shares.

The report also stated that Ms. Huong is also a senior leader in two subsidiaries of Kinh Bac Urban Area. Specifically, Ms. Huong is the Chairwoman of Saigon - Bac Giang Industrial Park Joint Stock Company and Vice Chairwoman and Deputy General Director of Saigon - Hai Phong Industrial Park Joint Stock Company.

How does Kinh Bac urban area operate?

Kinh Bac Urban Area develops industrial parks and urban areas, with Mr. Dang Thanh Tam as Chairman of the Board of Directors, established in 2002. Mr. Tam was born in 1964, graduated as a Marine Engineer from the Maritime University; has a bachelor's degree in law and a bachelor's degree in business administration.

Mr. Tam laid the foundation for the development of Kinh Bac Urban Area by building Que Vo Industrial Park (Bac Ninh) in 2002. Since then, the company has expanded to develop many industrial parks from North to South.

Starting with industrial park business, Kinh Bac Urban Area has expanded its investment into other areas such as banking, energy, and minerals but without success. Since 2016, the company has focused on its core business of industrial park business, gradually developing urban areas and social housing associated with industrial parks.

According to the 2023 annual report, the company owns an industrial park land fund of more than 6,610 hectares, accounting for 5% of the country's industrial park land fund, as of December 31, 2023.

Regarding urban land area, the company owns 1,413 hectares in major provinces and cities in the North - Central - South regions and nearly 118 hectares of other land fund to build factories. The company also participates in the social housing segment, developing projects in Bac Giang, Hai Phong, and Da Nang.

By the end of 2023, the company will have 27 industrial parks and industrial clusters nationwide, attracting large international corporations such as Canon, Foxconn, LG, JA Solar, Goertek...

Most of Kinh Bac Urban Area's revenue in 2023 will come from Bac Ninh, Bac Giang, and Ho Chi Minh City. The company plans to develop new projects in localities such as Bac Ninh, Hai Phong, Thai Nguyen, Tien Giang, Hau Giang, Can Tho, Vung Tau, etc. with an increased area of ​​about 3,500 hectares of industrial park land and 650 hectares of urban land.

2023 - the year Ms. Thu Huong received a high income - was also the year Kinh Bac signed a series of large-value contracts, recording the strongest business growth since listing.

Net revenue reached VND5,618 billion, profit after tax was VND2,245 billion, up 491% and 42% respectively compared to the previous year. Revenue mainly came from projects such as Nam Son - Hap Linh Industrial Park (Bac Ninh), Quang Chau Industrial Park Expansion (Bac Giang) and Trang Due Urban Area (Hai Phong).

However, this result has not helped the company complete its annual plan. Revenue has only achieved 67% of the target while profit is 56% of the plan. The company explained that the urban areas expected to record revenue in the year have not yet been accounted for.

Also in 2023, Kinh Bac Urban Area paid off the entire VND3,900 billion of bond principal and interest. Therefore, the company brought the bond debt to zero before June 30 of the same year.

This year, the company plans to have revenue of VND9,000 billion and after-tax profit of VND4,000 billion, up 60% and 78% respectively compared to last year. The company estimates to lease industrial park land in projects such as Nam Son Hap Linh, Quang Chau, Tan Phu Trung, Trang Due 3, and industrial clusters in Hung Yen and Long An.

In the first half of this year, Kinh Bac Urban Area achieved revenue of 1,044 billion VND, after-tax profit of nearly 196 billion VND, both of which decreased sharply compared to the previous year. Compared to the annual plan, the company is still quite far away.

After completing the repayment of all bond debt from last year, in the first half of this year, Kinh Bac Urban Area still had more than 405 billion VND in short-term financial debt and 4,495 billion VND in long-term financial debt. Total debt/equity is 0.24 times.

As of June 30, the company had more than 7,909 billion VND in accumulated profit on equity of 20,417 billion VND.

Source: https://dantri.com.vn/bat-dong-san/nu-tong-giam-doc-nhan-luong-17-ty-dong-gio-ra-sao-20240906102118445.htm