‘Luxury King’ Johnathan Hanh Nguyen continues to invest in Phu Quoc Airport

Johnathan Hanh Nguyen, Lien Nguyen Export-Import Company Limited (IPP) has proposed that the Ministry of Transport allow VND 2,000 billion to build another runway at Phu Quo airport.  (Kien Giang).

Kien Giang People’s Committee will study to contribute a portion of capital, IPP and Vietnam Airlines Corporation (ACV) will contribute the remaining capital.

After the construction, the IPP will hand over the runway to ACV for management, exploitation and operation as agreed by the parties.

In addition, IPP also wishes to cooperate with ACV to invest in the construction of international passenger terminal T2 with a total investment of up to VND 7,000 billion. It is expected to have a capacity of 10 million passengers per year in Phu Quoc.

Johnathan Hanh Nguyen continues to invest in Phu Quoc Airport

IPP is now a major shareholder, strategic investor of Tan Son Nhat Airport Services Joint Stock Company (Sasco) and also the largest shareholder of Cam Ranh International Passenger Terminal invested with a capacity of 8 million passengers / year, total investment of VND3.735 billion, expected to be completed and put into operation in the second quarter of this year.

Previously, as VietnamFinance has informed, in addition to expanding its CIP lounge business at Cam Ranh International Terminal, in early March, Sasco also decided to set up its branch in Khanh Hoa, Its main business is trading duty-free goods.

It is known that after the air, Sasco seems to want to “encroach” into activities related to support for rail and road transport.

Specifically, in a recent performance, Sasco – where Johnathan Hanh Nguyen as Chairman of the Board – has proposed to jointly with the Vietnam Railway Corporation to renovate the entire first floor, second floor of Saigon railway station accordingly. The purpose of business is to serve the needs of passengers (retail store, coffee shop, restaurant, living room) and passenger service (ticket sale, waiting area) with total cost about VND 15 billion.

Accordingly, Sasco will pay the Railways Corporation about VND 2 billion / year to use the whole station area for 5 years from the completion of the repair.

“The king of brand names” in the Vietnamese market – Johnathan Hanh Nguyen officially served as Sasco board chairman from April 2017. Meanwhile, his wife Le Hong Thuy Tien joined the company in late 2014 and is now a board member of Sasco.

In addition, Tien is also the General Director of IPP Group – the second largest shareholder of Sasco with the ownership ratio of nearly 25%, just behind the General Corporation of Airports Vietnam (ACV) with 49.07%.

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