Thanh Cong Securities Company (TCI) announced it received resignation letters from three board of directors (BOD) members. All three executives, including chairman Nguyen Khanh Linh and two vice chairmen Nguyen Dong Hai and Nguyen Quoc Viet, cited personal reasons for their departure.

Linh has held a key position at TCI since 2019 and currently owns no shares. Beyond Thanh Cong securities, he is also part of the leadership teams of several businesses under SGI Holdings (formerly Saigon 3 Group). Saigon 3 Capital, a subsidiary of SGI, is currently the largest shareholder in Thanh Cong securities, holding 54,79% of its capital.

Nguyen Khanh Linh, 4/2025. Photo: Quynh Tran

Previously, two board members, Tran Bao Toan and Dinh Tran Lac Thien, had also submitted their resignations. Thus, the entire current board of directors intends to step down from their management positions, despite their term extending until 2028.

This personnel change follows major shareholders linked to SGI Holdings registering to divest from TCI. Specifically, Saigon 3 Capital plans to sell nearly 21,6 million shares for financial investment purposes. The transaction is expected to occur from 16/6 to 15/7. If successful, their holding will decrease to 36,14%.

Additionally, Saigon 3 Jean has also registered to sell all of its more than 3,4 million TCI shares during the same period. If the transaction is successful, this company will no longer hold any shares in Thanh Cong securities.

These resignations will be approved at the annual general meeting held on 20/6. Forthcoming, the leadership plans to present shareholders with a proposal to elect five new board members for the 2026-2031 term.

Furthermore, according to the proposed meeting agenda, the company will seek approval to transition to a new governance model without a supervisory board. Shareholders will also decide on the dismissal of all three current supervisory board members: chairwoman Tran Thi Nhan, Truong Thi Hong Nhan, and Nguyen Trung Hieu.

In 2025, TCI's consolidated operating revenue reached VND 395,1 billion, an increase of nearly 73% year-on-year. However, after-tax profit decreased by nearly 79% to VND 12 billion, failing to meet its set targets. Rising operating costs were the primary reason for the eroded profits.

This year, Thanh Cong securities aims for a total revenue of nearly VND 233 billion. After-tax profit is expected to reach VND 14,3 billion. TCI's main strategy is to boost its margin lending, brokerage, and proprietary trading segments to prepare for the market's recovery phase.

Tat Dat