Ocean Hospitality states no affection from the arrestment of chairman Ha Van Tham

Starcity Halong Bay

Ocean Hospitality & Service, a wholly-owned subsidiary of Ocean Group, announced that its board of management had agreed to assign Huynh Trung Nam – a member of the Board of Management – to temporarily assume the duties of Ocean Hospitality’s chairman during his absence from October 25, 2014.

“This personal misconduct does not affect to the transparent, open and lawful occurring activities of Ocean Hospitality. Nam will temporarily handle duties of the chairman of Ocean Hospitality together with the company’s Board of Management and Board of Directors,” said Sven Albert Saebel, chief executive officer of Ocean Hospitality.

“Ocean Hospitality is putting great priority into the interests of our customers and to continue OCH’s further development. Our newest member to our StarCity hotel chain, StarCity Condotel Nha Trang & Spa will be expected to receive our first guests by late quarter this year and Ocean Hospitality has also commenced the development of Vietnam’s first Airport Hotel - StarCity Airport Hotel in Sai Gon,” said Nam.

Ha Van Tham, 42 years old, was arrested on October 24 2014 because of his legal violations at Ocean Bank where he was chairman of management board. Tham is also chairman of Ocean Group and Ocean Hospitality & Service.

Being a member of Ocean Group, Ocean Hospitality & Service invests in hotel operations, real estate business, property management, media and related services. The company has developed two famous hotel brands including four-star StarCity Hotel and five-star Sunrise Resort.

In 2013, Ocean Hospitality & Service increased its charter capital from VND1 trillion (about $47 million) to VND2 trillion (about $94 million) for deploying project implementation. The total consolidated revenue of the company last year increased 25 per cent compared to 2012. Meanwhile the profit before tax increased 46.7 per cent compared to 2012.