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At the 2026 annual general meetings (AGMs), several Vietnamese business leaders reiterated that they do not advise shareholders to buy or sell their companies’ shares, emphasizing that investment decisions are the responsibility of each individual.
At Hoà Phát’s 2026 AGM, Chairman Trần Đình Long responded to shareholder complaints that the company’s stock had moved more sideways than upward recently. He said price movements are driven by the objective market and that the leadership never recommends buying or selling. “As long as I sit in this position, I will never advise anyone to buy or sell Hoà Phát shares,” he said.
Nguyễn Duy Hưng, Chairman of PAN Group, endorsed the same stance at PAN’s 2026 AGM. He said he received a message from a shareholder planning to buy more PAN shares and replied that he does not advise anyone to buy shares, adding that his position mirrors Trần Đình Long’s.
Mai Kiều Liên, CEO of Vinamilk, also stated that giving advice to buy or sell a stock should not be something leaders provide. “It is the freedom of each person; if you trust the business, investors buy; if not, don’t buy,” she said.
In late 2015, at an investor gathering at FLC Sam Son Beach & Golf Resort, Trịnh Văn Quyết pledged that if FLC’s stock stayed below par in 2016, he would mobilize personal resources and even pledge assets to buy back FLC shares.
At the 2018 AGM, he told investors: “Trust me! Check what I say. In the coming years FLC will return to parity. The holders of FLC shares will reap the fruits!”
At an event launching FLCHomes investment opportunities on 18/11/2019, Quyết asserted that two FLC-related stocks—BAV of Bamboo Airways and FHH of FLCHomes—would reach “three figures,” and that FLC would return to par value. He also promised that if these three stocks did not deliver, he would file for bankruptcy and discard the FLC brand.
However, the article notes that FLC’s operations later faced difficulties after Quyết ran afoul of the law for asset misappropriation. After violations and a prolonged crisis, FLC and related ecosystem companies left the stock exchange, and the two stocks mentioned (FHH and BAV) have not yet been listed on the exchange. The article also states that Quyết has reemerged and returned to lead FLC.
On 16/11/2021, during a period when APS shares surged 12 times in under a year (from 4,200 to 49,800 VND per share), Nguyễn Đỗ Lăng and colleagues wore purple scarves associated with Apec stock and raised their arms while shouting: “Apec is determined to hold the profits!” A video of the event circulated widely and became a well-known moment in the Vietnamese stock market.
At APS’s AGM on 8/6/2023, Lăng again said that in the future the price would double or triple and that the Apec group would become the “queen” of 2023. But the article says that on 23/6/2023, Lăng, his wife Huỳnh Thị Mai Dung, and three other defendants were indicted and remanded for manipulating three stocks—APS, API and IDJ—earning more than 157 billion VND illicitly.
It adds that the incident led to a sharp slump in the Apec stock group. Later, at API’s 2024 AGM, Lăng said: “The incident happened; shareholders already know; this was an extremely unfortunate accident. We did not do it; some employees under us placed the orders.”
The article describes Đỗ Thành Nhân, former Chairman of Louis Holdings, as using social media rather than shareholder events. Through Facebook, he created the “Louis Family” group with over 10,000 members and frequently posted prompts such as: “Today, the BII AGM, place orders today — save the date for tomorrow,” and “From now to the end of the year, BII cannot reach 3X, TGG cannot reach 4X - 5X, keep scolding freely.”
According to the article, Nhân’s messages affected investor sentiment and stock prices, with evidence that many accounts poured money into purchases, contributing to BII and TGG hitting daily trading limits.
It further states that Nhân was later arrested for market manipulation. The article says he and accomplices created 17 accounts to cross-trade BII and TGG to manipulate supply and demand, leading many investors to misunderstand and join trading, and that after price peaks the group sold to realize profits.
Rather than promising price increases, KBC Chairman Đặng Thành Tâm repeatedly expressed regret for shareholders who left the company. At the 2021 AGM, he said: “Whoever leaves KBC will regret it later.” The article notes that after peaking at the end of 2021, KBC’s price fell sharply.
At the 2025 AGM, Tâm again felt regret for former shareholders, believing 2025 would be a bright year for KBC. At the 2026 AGM, he said KBC’s stock is sensitive to international fluctuations and urged investors to stay calm to avoid panic and losses. He also extended condolences to shareholders who sold off and faced margin calls during recent declines.
He urged shareholders to stay with the company and, if the market fluctuates, to “hold on to both sides” and ride the KBC train to harvest gains after long-term land and technology accumulation.
At Masan Group’s 2026 AGM, CEO Danny Le said that investors may view Masan as having different logos, companies, and sectors, making the story complex. He said that using a sum-of-the-parts valuation, Masan’s stock is trading at around a 60% discount to the market.
The article adds that from late 2021, MSN fell sharply, and by early 2022 it traded around 60,000–90,000 VND per share over the past three years.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
