Malaysian national becomes Novaland’s audit board member amid leadership reshuffle
Dennis Ng Teck Yow, a non-executive board member of major Vietnamese developer Novaland, was appointed member of the firm’s audit board on Wednesday, replacing Nguyen My Hanh.
Dennis Ng Teck Yow, new member of Novaland's audit board. Photo courtesy of DNSE.
Novaland's audit board now features three members, namely Hoang Duc Hung, who leads the board; Pham Tien Van; and Dennis Ng Teck Yow.
Dennis Ng Teck Yow, a Malaysian national, was appointed CEO of Novaland on March 17, 2023, succeeding Nguyen Ngoc Huyen. However, from November 1, 2024, this position was transferred to Duong Van Bac.
Novaland stated that Ng Teck Yow's departure from the CEO position is aimed at allowing him to focus on his responsibilities as a board member. This change was also part of a broader personnel reorganization plan within the firm's comprehensive restructuring process.
Before joining Novaland, Ng Teck Yow was CEO of Gamuda Land Vietnam, a subsidiary of Malaysia’s Gamuda Berhad which is known for major projects such as Celadon City in Ho Chi Minh City and Gamuda City in Hanoi.
He holds an MBA from Hull University in the UK and has been actively involved in international financial, banking, and construction associations.
Novaland recently experienced several changes in its leadership. Following Duong Van Bac’s appointment as CEO, the company’s board appointed Cao Tran Duy Nam and Tran Thi Thanh Van as deputy CEOs, starting November 15, 2024.
Both Nam and Van are long-standing senior executives with over 10 years of experience at Novaland, having made significant contributions to the company's development, particularly in its current phase of restructuring.
Novaland's NVL shares on the Ho Chi Minh Stock Exchange closed Friday at VND10,200 ($0.4) apiece.
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