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FPT denies Truong Gia Binh’s resignation
FPT Financing and Promotion Technology Corporation (FPT) yesterday officially denied the resignation of Truong Gia Binh as the Chairman and Chief Executive Officer (CEO) of FPT group.
Nguyen Thu Nga, Head of FPT’s public relations division yesterday confirmed to the press that Binh is still holding the post of Chairman and CEO of FPT.
According to Nga, the rumour about the resignation of Binh might have been sourced from the official announcement that Binh has not held the post of chairman of the FPT Software Company, a subsidiary of FPT, any more as of December 1, 2008. Some investors might have misunderstood the information, thinking that Binh has not held any post at FPT.
The misunderstanding has led to the worries that the price of FPT stocks, now listed on the HCM City bourse, would drop sharply as Binh will not lead FPT group any longer.
FPT prices have been decreasing continuously in the last five trading sessions to VND 46,500 a share, except in one session, when the stock prices stayed the same. The VND 46,500 a share level proves to be the lowest level in the last month.
However, securities experts said that the FPT price decrease could also be explained by the common fall of the stock prices as well. The total market capitalization value of FPT has devalued by over VND 6 trillion within the last three months. By December 8, 2008, the total value of FPT had dropped to VND 4.3 trillion from VND 10.7 trillion by September 9, 2008.
However, FPT remains at the top of the top ten companies which have the highest market capitalization value. By the end of October 2008, FPT had had the pre-tax profit of over VND 1 trillion.
Currently, Binh is holding VND 7.6 million of FPT, being the key shareholder of the group.
Tien phong, vietnamnet
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