Linh is PVcomBank’s new general director

By Nguyen Hoang Long

November 1, 2014

Nguyen Hoang Linh has been made the new general director for Vietnam Public Bank (PVcomBank) replacing Nguyen TheBao, who has been re-positioned to PetroVietnam Exploration Production Corporation (PVEP) as a member of the management board.

Linh has over 16 years’ experience in the financial and banking sector and was the deputy general director of corporate banking division at PVcomBank, before joining his new post. This change of management has come just days after PVcomBank signed a co-operation pact with PVGas to collaborate in different banking-related areas like depositing, investment, payment, credit, financial advisory and individual financial services.

PVGas, PVcomBank and PVEP are three of the many subsidiaries of PetroVietnam (Vietnam Oil and Gas Group). The group is going through consolidation, which might involve offloading stake in 11 of its affiliates, which are not directly linked or involved in its core business. This might involve reducing shares in its different bank holdings. Currently,PetroVietnam is one of the the bigger stakeholders in banks like PVcomBank, where it holds 52% stake and OceanBank, where its stake is 20%.

PetroVietnam’s revenues in the first nine months of this year were 560.1 trillion VND ($26.36 billion), of which 125.5 trillion VND was added to the state coffers. It focuses on deploying and operating the system of gathering, transporting, storing, processing, and distributing gas products in Vietnam and connecting with Trans – Asian gas pipeline.

PVcomBank officially began in October 2013 with total assets of 100 billion VND, charter capital of 9,000 billion VND with PetroVietnam (52%)  as a major shareholder and Morgan Stanley (6.7%) as a strategic shareholder. Currently PVcomBank credit is concentrated in the oil and gas industry, typically as arranger and lender of the projects.

PetroVietnam Exploration Production Corporation (PVEP)  is engaged in oil and gas exploration and production. It has operations in Vietnam, Malaysia, Indonesia, Myanmar, Laos, Cambodia, Mongolia, Iran, Tunisia, Algeria, Cameroon, Madagascar, Congo, Peru, and Venezuela.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
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