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This profile was last updated on 4/19/13  and contains information from public web pages and contributions from the ZoomInfo community.

Mr. Nguyen Duc Kien

Wrong Nguyen Duc Kien?



Employment History

  • Owner
  • Chairman
    National Assembly
  • Bank's Strategic Partner
    ACB Ly Xuan Hai
  • General Director
    ACB Ly Xuan Hai
  • Chairman
    ACB Ly Xuan Hai
  • Deputy Chairman
  • Chairman
    The NA
  • President
    The NA
  • Deputy Chairman
    Voice Peering Fabric
  • Chairman
    Asia Commercial Bank

Board Memberships and Affiliations

195 Total References
Web References
Ranking 14th in the top 100 ..., 9 Oct 2012 [cached]
Ranking 14th in the top 100 rich people on the stock exchange, Vice Chair of the Asia Commercial Bank (ACB) Nguyen Duc Kien is the owner of the Hanoi ACB FC. Kien is also the football boss that attracted public attention the most in 2011.
Nguyen Duc Kien, deputy head ..., 3 Feb 2015 [cached]
Nguyen Duc Kien, deputy head of the National Assembly's Economics Committee, believes that the capital source is more important than ODA (official development assistance) and as important as FDI.
However, Kien warned that kieu hoi, which could serve as a driver of economic development, may turn out to be putting hard pressure on the economy, if Vietnam cannot use the capital in an effective way.
Kien noted that Vietnam needs to attract kieu hoi into production and business, and not for spending on consumer goods.
Nguyen Duc Kien, chairman of ..., 3 Oct 2011 [cached]
Nguyen Duc Kien, chairman of the National Assembly's State Budget and Economic Committee, said he was extremely worried by losses and corruption in construction projects. "We estimate if we are able to minimise loss, waste and corruption we could see a 1 per cent annual increase in our GDP," Kien told the NA. The government just set next year's economic growth target at 8.5 per cent, 1 per cent higher than 2004. "We can achieve this figure only when we control the current [corruption and waste] situation," Kien said.
International view Although many NA deputies acknowledge corruption had become major threat to national development, ways to tackle the epidemic remain problematic. The government reported only 185 cases of corruption were detected so far this year. "I don't think this figure [of corrupted cases] demonstrates the real situation we are facing now, but it is not easy to measure the level of corruption," Kien added.
The multi-millionaire banker Nguyen ..., 16 Dec 2013 [cached]
The multi-millionaire banker Nguyen Duc Kien, once one of the richest men in Vietnam and former deputy chairman of the Board of Management and ex-deputy chairman of the Founding Board of ACB made international news when he was arrested in August last year.
Kien has now been charged with illegal trading, swindling to appropriate assets, intentionally acting against State's economic management regulations and causing serious consequences, and tax evasion.
Kien was the chairman of the Investment Board of ACB from 2003 to August 2012 and was deputy chairman of the Management Board of the bank from 1994 to 2008.
In 2007 Kien suggested that the Management Board of ACB set up the Founding Board of ACB and he took the post of deputy chairman of the board when it was established.
With such title, which was not recognized by the State Bank of Vietnam, and the other posts, Kien was the representative of the group of shareholders holding 9.03 percent of the bank's charter capital, and played important role in operating and managing the bank.
Kien also set up and was the chairmen of management boards of six companies: Thien Nam Production Development and Import-Export JSC, B&B Trading and Investment JSC (B&B), Asia Financial Group Co LTd (AFG), Hanoi ACB Investment JSC (ACBI), A Chau Investment JSC (ACI) and Hanoi Asia Financial Investment Co Ltd (ACI-HN).
According to the indictment, except Thien Nam, all the five above-mentioned companies were used by Kien to conduct financial trade transactions totaling nearly VND10 trillion (US$471.7 million), although these company were not licensed to do so.
Through ACBI, Kien committed illegal trading deals totaling over VND1,433 billion ($67.6 million), the Supreme Prosecutor's Office said.
At AFG, the total amount of financial trading transactions that were carried out unlawfully under Kien's orders amounted to VND4,068 billion ($192 million).
Meanwhile, ACI bought 37.5 million shares at Nha Rong Investment Trading JSC and 6.375 million shares at Saigon Goods Services JSC.
Kien also ordered ACI-HN to issue debentures worth VND350 billion and sold them to VietBank.
In addition, Kien and and Ky also granted credits to Kien's companies for them to buy shares at ACB. This move caused a loss of VND688 billion, which was the amount that could not be recovered from these companies.
Swindling VND264 billion
When being chairman of the Board of Directors at ACB Investment (ACBI), Kien requested Tran Ngoc Thanh, the firm's director, and its chief accountant, Nguyen Thi Hai Yen, to falsify documents to sell more than 22 million shares of the bank at Hoa Phat Steel JSC to Hoa Phat Steel One-member Limited Company.
By the deal, Kien and his accomplices appropriated VND264 billion ($12.45 million) paid by the buyer, but in fact, all these shares had been used by ACBI as security at ACB for another deal.
Huge loss in illegal gold trading
Although Thien Nam Production Development and Import-Export JSC was not licensed to trade in gold, Kien ordered the company to conduct illegal gold trading.
Also related to gold trading, Kien was charged with evading more than VND25 billion ($1.18 million) in 2009, said the Supreme Prosecutor's Office.
He also took advantage of the government's policy to exempt taxpayers from personal income tax for first six months of 2009 and managed to evade corporate tax by transferring the company's profit into his own personal income.
VietNam News [cached]
According to Nguyen Duc Kien, ACB's vice chairman, several large foreign banks and investment institutions, including CitiBank, HSBC and Temasek, were interested in becoming his bank's strategic partner.
"We finally chose SCB because it will provide us with the long-term technical assistance most suitable to our bank," he said.He also revealed that the final share price was not the highest it had been offered.
"Other factors along with SCB's successful performance led to its selection," he said at yesterday's announcement and signing of the technical assistance agreement.
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