Education major Egroup appoints new executive amid leadership crisis
Nguyen Thi Dung, a board member of Egroup Education Group JSC and a senior executive at its subsidiary Egame Investment and Distribution JSC, has taken over the executive role at the two firms from Nguyen Ngoc Thuy, known as “Shark Thuy”.
In its Tuesday announcement, Egroup - a major education player in Vietnam - stated that Thuy had transferred his shares and shareholder rights in the two businesses to Dung, who is his younger sister.
The statement was issued after the Ministry of Public Security on Tuesday arrested Thuy on charges for fraud to appropriate properties at Egroup and Egame.
Egroup pledged that the firm will continue to prioritize stable operations at its affiliates, comprising the English language school Apax Leaders, the kindergarten school chain STEAMe Garten, and the critical thinking training system CMS Edu.
Nguyen Ngoc Thuy, born in 1982, founded Egame in 2008, which later evolved into Egroup Group. In only four years, more than 100 Apax training centers for English were established across the nation, boasting 800 native teachers and catering to 75,000 learners. Notably, in the 2018-2019 period, he participated in the startup-focused reality show Shark Tank Vietnam, earning the name “Shark Thuy.”
In only four years, more than 100 Apax training centers for English were established across the nation, boasting 800 native teachers and catering to 75,000 learners. In 2018-2019, he participated in the startup-focused reality show Shark Tank Vietnam, earning the name “Shark Thuy”.
- Read More
Vinh Phuc province vice chairman arrested for accepting Phuc Son Group bribes
Nguyen Van Khuoc, vice chairman of the Vinh Phuc People’s Committee and chairman of the province’s land price appraisal council, has been arrested for accepting bribes in the Phuc Son Group scam.
Politics - Tue, April 23, 2024 | 9:04 pm GMT+7
Vietnam tech giant FPT to invest $200 mln in AI factory, utilizing Nvidia technology
Vietnam’s leading tech firm FPT Corp. will invest $200 million in building an artificial intelligence (AI) factory, utilizing technology provided by U.S. chip and AI giant Nvidia.
Industries - Tue, April 23, 2024 | 5:50 pm GMT+7
VAFIE to maintain core strength focus – offer policy advice, facilitate economic ties
The Vietnam's Association of Foreign Invested Enterprises (VAFIE) will continue participating in policy and law building activities and facilitating multilateral economic relations, its executive committee said at a review meeting Tuesday.
Economy - Tue, April 23, 2024 | 5:36 pm GMT+7
Vietnam economic recovery expected to speed up in H2: WB
Vietnam’s economy has shown signs of uneven recovery in early 2024 and economic activities are expected to firm up in the second half of this year, the World Bank says in its latest bi-annual economic update.
Economy - Tue, April 23, 2024 | 4:37 pm GMT+7
NSH Petro suffers second successive quarterly loss as Q1 revenue plunges 88%
Nam Song Hau Trading Investing Petroleum JSC, or NSH Petro - a major fuel supplier in Vietnam’s Mekong Delta region, incurred a net loss of VND24 billion ($942,730) in Q1 this year, a stark contrast to the VND199 billion profit recorded in the same period of 2023.
Companies - Tue, April 23, 2024 | 3:27 pm GMT+7
Taiwanese bike manufacturer Giant to invest $120 mln more in southern Vietnam
Giant Group, a Taiwan-based bike manufacturer, plans to invest $120 million more in Binh Duong province, a southern industrial hub of Vietnam, said Bonnie Tu, chairperson of the group.
Industries - Tue, April 23, 2024 | 2:56 pm GMT+7
Lukewarm interest in Vietnam’s first gold auction after 11 years
Just two companies submitted bids to buy 3,400 taels of SJC-branded gold bars, or 20.2% of the volume offered, at an auction held by Vietnam’s central bank Tuesday.
Banking - Tue, April 23, 2024 | 2:45 pm GMT+7
High-speed ferry operator Superdong Kien Giang posts 40% fall in Q1 profit
Superdong Fast Ferry Kien Giang JSC reported an after-tax profit of VND20 billion ($785,700) on net revenue of nearly VND108 billion ($4.24 million) in Q1/2024, down 40% and 8% year-on-year, respectively, according to its financial statements.
Companies - Tue, April 23, 2024 | 1:52 pm GMT+7
ESG rules must be tightened to unlock green capital flows: HSBC exec
Lam Thuy Nga, country head of large corporate, wholesale banking at HSBC Vietnam, shares her thoughts from the Vietnam Connect Forum 2024.
Consulting - Tue, April 23, 2024 | 11:05 am GMT+7
US chip giant Nvidia delegation discusses AI, semiconductor cooperation with Vietnam
Executives from U.S. chip and Artificial Intelligence (AI) giant Nvidia led by vice president Keith Strier are in Vietnam to explore investment opportunities in AI and semiconductors.
Industries - Tue, April 23, 2024 | 10:03 am GMT+7
New retail player Van Thai Land to rekindle ‘old’ brand
Among several new commercial centers set to open in Ho Chi Minh City this year is District 8’s Parc Mall, marking the rekindling of an “old” brand by “new” developer Van Thai Land.
Companies - Tue, April 23, 2024 | 8:07 am GMT+7
Sugar cane output of world's second-largest exporter Thailand falls sharply due to drought
Thailand's sugar cane output declined in the 2023-24 crop because of severe drought, according to the Office of the Cane and Sugar Board (OCSB).
Southeast Asia - Mon, April 22, 2024 | 10:13 pm GMT+7
Malaysia attaches importance to high-quality investments, start-ups
Six Malaysian ministers on Monday made a joint commitment to ensure a coherent approach to achieve the goal of the Kuala Lumpur 20 Summit 2024 (KL20 Summit 2024) to make Malaysia a vibrant hub for startups and high-quality investments.
Southeast Asia - Mon, April 22, 2024 | 10:10 pm GMT+7
Thailand expects to export 1 million tonnes of durian this year
Thailand expects to export about 1 million tonnes of durian, valued at an estimated THB130 billion ($3.53 billion) this year, with most of the shipments to China, according to Minister of Agriculture Thammanat Prompao.
Southeast Asia - Mon, April 22, 2024 | 10:09 pm GMT+7
Thailand urged to increase proportion of renewable power generation
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
Southeast Asia - Mon, April 22, 2024 | 10:07 pm GMT+7
Malaysia sees increased number of young millionaires
The number of young millionaires in Malaysia is on the rise, with a 75% increase in millionaires aged 30 and under recorded in 2022.
Southeast Asia - Mon, April 22, 2024 | 10:07 pm GMT+7