NRC Appoints New General Director as Board Member Seeks to Resign

NRC (Công ty CP Tập đoàn Bất động sản Quốc gia) has accepted Trịnh Văn Bảo’s resignation as general director for personal reasons and appointed Trần Hữu Hiệp to succeed him. The company has also received the resignation letter of board member Ngô Thị Như Phượng. She said she could not arrange time for the role; her departure still requires approval at the next shareholders’ meeting.

Ngô Thị Như Phượng, who has sought to resign from NRC’s board.（VietVance）

Ngô Thị Như Phượng was elected to NRC’s board on June 26, 2026, for a term ending in 2027. She is the wife of Đỗ Thành Nhân and serves as general director, legal representative and largest shareholder of Công ty CP Thiên Hoàng Holdings; Đỗ Thành Nhân is the company’s chairman.

At its June 26 shareholders’ meeting, NRC approved a plan to privately place 100 million shares with Thiên Hoàng Holdings at VND 10,000 per share, aiming to raise VND 1 trillion. Of that, VND 134 billion is earmarked for overdue taxes, VND 160 billion for bond repayments and VND 54 billion for bank loan repayments. The remaining VND 652 billion is intended to acquire units in the The Welltone Luxury Residence project in Nha Trang from Công ty CP Đầu tư VHR. Shareholders also agreed that the company could raise up to a further VND 1 trillion for investment and financial restructuring.

If Thiên Hoàng Holdings subscribes to all the proposed shares and there are no other changes to the company’s share capital, its stake after the issuance will exceed 50%. However, NRC’s third-quarter consolidated financial statements show that its registered capital remained close to VND 926 billion, unchanged from the start of the year. Trịnh Văn Bảo became NRC’s deputy general director in early 2025 and was promoted to general director on August 15 that year.

Trịnh Văn Bảo became NRC’s general director in 2025, having previously served as deputy general director.（VietVance）

Source: VietVance