FLC chairman to become the richest billionaire in Vietnam’s stock market

November 14, 2016 | 17:45

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FLC Group JSC’s (FLC Group) chairman Trinh Van Quyet has become the richest man on Vietnam’s stock market.

At the end of the November 14 session, Faros Construction Corporation (ROS) share price settled at VND116,200 per share, up VND7,500 and FLC Group (FLC) share price reached VND7,010, up VND10 in the Ho Chi Minh Stock Exchange (HOSE).

Combining nearly 279.559 million shares of ROS and 108.86 million shares of FLC, the total value of Quyet’s holdings amount to nearly VND33.3 trillion ($1.49 billion), up VND2.1 trillion.

FLC Group and Faros Construction Corporation have strongly emerged in the real estate and construction sector in Vietnam, operating major projects with high construction speed.

The total value of their series of real estate projects nationwide, including the VND5.5 trillion FLC Samson Beach and Golf Resort in the central province of Thanh Hoa, VND7.5 trillion FLC Quy Nhon Beach and Golf Resort in the central province of Binh Dinh, and FLC Vinh Phuc Resort (the first phase), is estimated at more than $3 billion by Savills.

In 2016, FLC Group sets the profit target of VND1.2 trillion. The company has reached the annual target two months earlier than expectation, according to general director Huong Tran Kieu Dung.

Quyet was born in 1975 in the northern province of Vinh Phuc and he started out in the legal and investment consulting services before taking commercial trading and real estate.

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