Nguyen Van Tuan: Who is the Chairman of GELEX Group?

During the stock trading session on April 6, in addition to the “family” of FLC shares, the shares bearing the “family” of Gelex were also heavily dumped.

During the whole trading session on April 6, stocks of the Gelex ecosystem became the selling point of investors, the capitalization value “evaporated” nearly 10 trillion dong.

At the close, GEX dropped 6.5% to 37,400 dong/share, this is the second decrease of this stock. VIX and IDC also fell for the second consecutive session with a decrease of 5.44% to 22,600 dong/share, and 8.51% to 72,000 dong/share, respectively; MHC decreased by 5.43% to 12,200 VND/share. Meanwhile, two stocks VCW and PXL stood at the reference price, VCW alone went through 4 consecutive sessions with no transactions.

Gelex Group Joint Stock Company (stock code: GEX) was formerly the Vietnam Electrical Equipment Corporation, led by young businessman Nguyen Van Tuan (born in 1984) as General Director, cum member of the Board of Directors. This company is the owner of Melia Hanoi Hotel, and a series of large and small real estate projects, especially after successfully acquiring Viglacera Corporation in April 2021.

Mr. Tuan is known by the nickname Tuan “smooth”, holds a bachelor’s degree in Finance – Banking, and a bachelor’s degree in Economic Law.

The ecosystem of businesses related to Gelex also includes Viglacera (VGC), VIX Securities (VIX), IDICO Corporation (IDC), Marina Holdings (MHC), and Gelex Electrical Equipment JSC (GEE), the company. Song Da Clean Water Investment Joint Stock Company (VCW), and Long Son Petroleum Industrial Park Investment and Development JSC (PXL).

Gelex is a group that acquires Melia Hanoi Hotel, a 5-star hotel located in the heart of Hanoi Capital. However, this group and Mr. Tuan personally only noticed after the Da River water was contaminated with waste oil in 2019.

It is known that Gelex Energy One Member Limited Liability Company currently holds a 60.46% stake in Song Da Clean Water Company.

8X businessman Nguyen Van Tuan – Chairman of Gelex Group.

Mr. Nguyen Van Tuan himself sat as General Director and became a member of the Board of Directors of GEX in 2016, when he was only 32 years old.

Also in 2016, Mr. Tuan became Chairman of the Board of Directors of Gelex Energy One Member Limited Liability Company, Vice Chairman of the Board of Directors of Electrical Equipment One Member Limited Liability Company.

Not stopping there, from 2017 to now, Mr. Nguyen Van Tuan has been Chairman of the Board of Directors of Vietnam – Cadivi Electric Cable Joint Stock Company (CAV), Vice Chairman of SAS CTAMAD Co., Ltd.

In 2019, Mr. Tuan took over as Chairman of the Board of Directors of Viglacera Corporation after the group of shareholders GEX acquired this business. Also in this year, this businessman took over the chair of Chairman of the Board of Directors of Gelex Electrical Equipment Joint Stock Company. In addition, Mr. Tuan is also Vice Chairman of the Board of Directors of Fecon Infrastructure Joint Stock Company.

It can be seen that the ecosystem of businesses related to Gelex is quite diverse, including securities, real estate, electrical equipment, and clean water business.

However, Mr. Nguyen Van Tuan currently only directly holds shares in 2 enterprises, namely VIX Securities and Gelex Group Joint Stock Company (GEX).

However, these 2 stocks are also helping this businessman to rank 18th in the list of the richest people on the stock exchange with a fortune of 8,600 billion dong.

Specifically, Mr. Tuan holds more than 58 million VIX shares, accounting for 10.56% of the company’s charter capital, worth more than VND 1,325 billion; more than 192 million GEX shares, ratio 22.58%, worth nearly 7,300 billion dong.

In addition, through Gelex Energy One Member Limited Liability Company, Mr. Tuan also indirectly owns tens of millions of shares of Song Da clean water (VCW) and PVC-Idico (PXL) worth about 2,000 billion VND.

Mr. Nguyen Van Tuan is currently in the Top 20 richest people on the stock exchange.

At GEX, Mrs. Dao Thi Le, Mr. Tuan’s mother also holds 15 million shares, worth about 567 billion dong. Ms. Dao Thi Le is also a major shareholder of Huy Hoang Construction and Equipment Co., Ltd with a 49% stake. This company has a charter capital of 952 billion dong, its head office is in Gia Sang ward, Thai Nguyen city, Thai Nguyen province. In particular, this is the owner company and the largest shareholder of GEX holding the rate of 23.14%.

Mr. Nguyen Van Tuan’s wife is Ms. Duong Thi Hong Hanh (SN 1987), a shareholder holding 51% of the shares of Huy Hoang Equipment and Construction Co., Ltd. Ms. Duong Thi Hong Hanh also successfully auctioned 4.5 million shares of DAP-VINACHEM One Member Limited Liability Company.

Talking more about VIX securities, formerly Vincom Securities Company. After being bought by Xuan Thanh Group of “elect” Thuy, the name was changed to Xuan Thanh Securities. In 2014, the GEX group of shareholders bought this company and changed its name to IB Securities, then returned to the current name VIX Securities.

Stocks belonging to the GEX ecosystem had similar price movements to those of Trinh Van Quyet’s FLC ecosystem, as well as Mr. Do Thanh Nhan’s group of “family” Louis stocks. For example, GEX stock has increased in price by 150% in 2021. At the same time, VIX has increased by 124%, VGC has increased by 98%, PXL has increased by 96%, etc.

Ngan Giang