Coteccons gets new general director after 18-month vacancy

Created 06 August 2022

Economy & Money - Business

Editor Choice

(0 votes, average 0 out of 5)

Construction company Coteccons has named Vo Hoang Lam as its new general director, a year and a half after his predecessor quit.

Lam, 44, earlier a board member and deputy director, has been with the company since its early days and held key positions like site manager, project manager and director of subsidiaries.

The company faced great "pressure from the public, shareholders and investors" and disadvantages while bidding when the seat was vacant, Coteccons chairman Bolat Duisenov said in a statement released August 5.

But there was no rush to appoint a new CEO since the management team was operating stably, he said.

Both of Lam’s last two predecessors, Nguyen Sy Cong and Vo Thanh Liem, left the firm to lead other construction companies.

Coteccons reported a loss of VND24 billion ($10.36 million) for the second quarter, driven by a VND242-billion provision it had to make for debts owed by Viet Star Real Estate Investment Co. Ltd, a subsidiary of Tan Hoang Minh Group.

Source: VNE

SocButtons v1.4

Tags:

Add comment

< Prev		Next >

Maybe You Also Interesting :

» Coteccons posts loss in Q2 due to debt provisioning

Leading construction company Coteccons reported a loss of VND24 billion ($10.36 million) for the second quarter after making a bad-debts provision of VND242...

» Coteccons chairman to buy $1.6 mln worth of company shares

Bolat Duisenov, chairman of construction giant Coteccons, has registered to buy 730,000 shares of the company over a month starting June 3.

» Coteccons forecasts decline in profit this year

Coteccons Construction Corporation (CTD) plans to achieve VNĐ20 billion (US$870,400) in profit this year, a decrease of 17 per cent year-on-year.