Vietnam’s PNJ establishes $1.9mn financial services subsidiary

According to a resolution from PNJ’s board of directors, the new company will be named An Tin Asset Solutions JSC, headquartered at 159C Phan Dang Luu Street, Duc Nhuan Ward, Ho Chi Minh City.

Its primary business will be providing financial services and related activities in compliance with Vietnamese law.

An Tin Asset Solutions will have a charter capital of VND50 billion ($1.9 million), with PNJ contributing VND32.5 billion ($1.2 million), equivalent to a 65-percent stake.

The investment will be executed once the company completes its enterprise registration procedures.

This move comes shortly after PNJ announced a leadership transition.

On February 27, the company revealed that CEO Le Tri Thong would step down on April 3, 2026 to pursue a career in financial investment and business restructuring.

He will remain as vice-chairman of the board.

Phan Quoc Cong was appointed as his successor, assuming the role of CEO for a five-year term starting April 3.

Born in 1970, Cong brings over 30 years of experience in corporate management.

He holds a doctorate in business administration, a master’s degree in business administration, and an engineering degree in electrical studies.

He has previously served on the boards of PNJ, Mekong Capital, and Mobile World.

PNJ expects that under Cong’s leadership, the company will strengthen its market position, enhance competitiveness, and deliver long-term value to shareholders, customers, and the community.