Chairman of EVN TPC Quang Ninh arrested

March 27, 2019 | 09:59

(0) user say

The Quang Ninh Public Security Department has arrested Le Duy Hanh, chairman of Quang Ninh Thermal Power JSC (EVN TPC Quang Ninh – code: QTP) for the charge of abusing his position and powers to commit violations.

Le Duy Hanh, chairman of EVN TPC Quang Ninh has been arrested over charges of abusing his position and powers

For several days, Le Duy Hanh, chairman of Quang Ninh Thermal Power JSC was absent from his office and the Quang Ninh Public Security Department confirmed that he had been arrested.

Earlier, Tran Ngoc Kiem, chief of the company’s office, told local media: “We have yet to be informed that Hanh was arrested. We know that he was called to meet with the local public security on Friday, March 22.”

Le Duy Hanh was born in 1963, worked at Quang Ninh Thermal Power JSC since 2014 as general director and was appointed as chairman of the Board of Management last year.

Quang Ninh Thermal Power JSC is held by big shareholders like Vietnam Electricity Power Generation Corporation 1 (EVNGENCO1), State Capital and Investment Corporation (SCIC), Vinacomin-Power Holding Corporation, Pha Lai Thermal Power JSC (PLPC), Refrigeration Electrical Engineering Corporation (REE).

The company operates Quang Ninh’s four thermal power factories with the total capacity of 1,200MW connecting to the national electrical system through the 500kV Quang Ninh substation with the average designed output of 7.2 billion kWh per year.

The revenue of the company in 2017 was estimated at VND8.3 trillion ($360.9 million), down VND441.8 billion ($19.2 million) on-year. The total assets of the company on December 31, 2017 were VND14.05 trillion ($610.9 million), while liabilities amounted to VND10.337 trillion ($449.4 million), equalling 73 per cent of the total assets.

In 2018, EVN TPC Quang Ninh’s total assets shrank to VND13.284 trillion ($577.6 million), while liabilities stood at VND8.269 trillion ($359.5 million).

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional