Revealing the huge fortune of Chairman of Sao Mai Group (ASM) Le Thanh Thuan

Mr. Le Thanh Thuan, born on February 10, 1958 in Trieu Son, Thanh Hoa. Qualification: Civil Engineer.

In the period 1977 -1986, Mr. Le Thanh Thuan worked at State agencies of An Giang province. Then, from 1997 until now, he holds the position of member of the Board of Directors and General Director of Sao Mai Group Joint Stock Company (ASM).

In addition, Mr. Thuan is currently the Chairman of the Board of Directors of IDI Multinational Development and Investment Joint Stock Company (IDI), Chairman of the Board of Directors of Asia Minerals and Real Estate Investment Joint Stock Company, a member of the Board of Directors of Investment Joint Stock Company. Investment in Tourism and Fisheries Development (Trisedco, DAT).

Currently, Mr. Thuan is a major shareholder in Sao Mai Group, owning 64,982,431 shares, respectively holding 19.31% of the group’s charter capital.

At Trisedco, Mr. Thuan holds 1,811 shares, accounting for 3.94% of charter capital.

Mr. Le Thanh Thuan is currently in the top 200 richest billionaires in Vietnam. Owning at Sao Mai Group and Trisedco alone, Mr. Le Thanh Thuan’s assets are estimated at 1,206 billion VND.

Sao Mai Group has increased its charter capital 12 times, currently its charter capital is 3,364.3 billion VND.

Sao Mai’s leaders hold the following charter capital: Mr. Le Thanh Thuan holds 19.31%, Ms. Le Thi Nguyet Thu, Chairman of the Board of Directors holds 5.33%, Mr. Nguyen Van Hung, Vice Chairman cum Deputy General Director holds 0 ,15%.

According to information in the management report of Sao Mai Group, at the end of 2021, many of Mr. Thuan’s family members are major shareholders of the company: Mr. Thuan’s wife – Ms. Vo Thi Thanh Tam holds 5.20%. , two daughters Le Thi Thu Nguyet and Le Thi Thien Trang hold 5.33% and 5.14% respectively and “son” Le Tuan Anh (son) holds 11.26% of ASM shares.

Besides, Mr. Thuan’s brother – Mr. Le Van Thong owns 0.21% of the shares, Ms. Le Thi Thuy (sister) holds 0.06%, Mr. Le Van Thuy (younger brother) holds 0.50%, Mr. Le Van Chung (younger brother) holds 0.79%, Mr. Le Van Thanh (younger brother) holds 0.29% of ASM shares.

Thus, Mr. Le Thanh Thuan’s family holds up to 48.09% of shares in ASM.

Mr. Le Thanh Thuan’s career made many strides when he started the establishment of Sao Mai Group.

The predecessor of Sao Mai Group (formerly Sao Mai Construction and Investment Joint Stock Company in An Giang Province) is An Giang Province Architecture Joint Venture Company, established under Decision No. 000450/GP/TLDN-03 dated 5/2/1997 of the People’s Committee of An Giang province with the initial charter capital of 905 billion VND.

Sao Mai Group’s head office is at 326 Hung Vuong, My Long ward, Long Xuyen city, An Giang province. Currently, the Group has 3 representative offices, 6 branches, 11 subsidiaries and 1 capital contribution company.

Sao Mai Group mainly operates in the fields of Civil, industrial and traffic construction; Producing and trading in building materials; Real estate business; Seafood export…

In 2010, shares of Sao Mai Group: ASM were listed and traded on the Ho Chi Minh City Stock Exchange (HoSE).

Typical projects of Sao Mai include: chain of high-class urban areas Sao Mai – Binh Khanh, urban area Sao Mai – Lap Vo and other real estate projects in Tien Giang, Ben Tre, Can Tho , Thanh Hoa, Dong Thap, Hoa Binh, Ho Chi Minh City, Hanoi. Besides, the company also invests in solar power projects in An Giang.

Under the direction of Thanh Thanh giant Le Thanh Thuan, most businesses in Sao Mai Group’s ecosystem have recorded continuous growth in revenue in recent years.

The data shows that, in the period 2016-2017, the highest net revenue of Sao Mai Group was just over VND 2,100 billion.

In 2018, Sao Mai Group’s business results increased dramatically when revenue soared to VND 8,887.1 billion and profit after tax reached VND 1,197.8 billion, up 323% and 614% respectively compared to 2017.

It is known that in 2018, Sao Mai Group invested in Sao Mai Solar Power Plant with a total investment of 2,000 billion VND.

In 2019, the company’s net revenue continued to increase “unexpectedly” to VND 14,223.8 billion, up 60%, but profit decreased by 31.2% compared to the previous year.

In 2020, Sao Mai continues to invest in many projects such as Sao Mai Solar Power Plant (phases 3 and 4) with an investment value of more than 2,000 billion VND.

At the 2020 financial report, revenue from core areas such as seafood and real estate decreased by 14% and 25%, respectively. However, in the field of solar energy, Sao Mai Group recorded a strong growth of 127% in revenue in this segment over the same period, reaching VND 515 billion. However, net revenue in 2020 still decreased by 11.8% to VND 12,524.6 billion and profit decreased by 30.5% to VND 572.3 billion.

In 2021, although still affected by the Covid-19 epidemic, Sao Mai’s business situation is still quite prosperous. Net sales fell 8% to VND 11,397.9 billion, but profit after tax increased by 22.8% to VND 703.9 billion.

In the first quarter of 2022, Sao Mai’s net revenue reached VND 3,209 billion, up 15.4% over the same period in 2021. Profit after tax increased 2.2 times over the same period, to VND 324 billion, of which profit after tax of shareholders of parent company reached nearly 208.8 billion dong, up 83.4%.

Total assets of Sao Mai Group also skyrocketed year by year. Specifically, in 2018 Sao Mai’s assets increased 2.4 times in 2016 to 11,975.4 billion. And from 2018 to now, assets have grown on average each year to nearly VND 50 billion. By the end of 2021, Sao Mai’s total assets will reach VND 18,169.1 billion. At the end of the first quarter of 2022, Sao Mai’s total assets increased slightly by 3% to VND 18,897.7 billion.