GELEX clarifies impact of Dang Phan Tuong prosecution

GELEX has issued an official statement regarding Dang Phan Tuong, who has been prosecuted as a defendant during an investigation into the National Power Transmission Corporation (EVNNPT). The group clarified that the legal issues involving Mr. Tuong arose prior to his involvement in the management of GELEX Electric and its subsidiaries.

GELEX stated that the matter is personal and does not impact the operations, financial management, or cash flow of GELEX, GELEX Electric, or other companies within the system. At GELEX Electric, Mr. Tuong served as a board member but was not directly involved in daily business operations.

In response to the situation, GELEX Electric, CADIVI, and THIBIDI have initiated governance procedures. On September 14, the boards of these companies issued resolutions to seek written shareholder opinions to dismiss Mr. Tuong from his position as a board member, as he no longer meets the required standards and conditions for the role. The group maintains that all business, financial, and investment plans remain on track.