Billionaire Johnathan Hanh Nguyen wants to focus on developing Sasco

This morning (June 26), Tan Son Nhat Airport Services Joint Stock Company (Sasco - stock code: SAS) held its 2025 annual general meeting of shareholders.

Shareholders approved the plan to pay dividends in 2024 at a rate of more than 28% in cash, equivalent to VND 2,809/share, the highest level ever. The total amount expected to be spent to exercise shareholder rights is VND 375 billion.

The company has made the first advance payment, at a rate of 6%, at the end of 2024. The remaining amount of more than 22% is expected to be paid in the second installment according to regulations.

Tỷ phú Johnathan Hạnh Nguyễn muốn dồn lực phát triển Sasco - 1 — Mr. Hanh Nguyen (standing in the middle) affirmed that he will focus on the development of Sasco (Photo: Sasco).

Speaking to shareholders, Mr. Johnathan Hanh Nguyen - Chairman of Sasco Board of Directors - pledged to devote all his efforts to further develop the company. He recalled that 30 years ago, the company's leadership only met together in the garage, enduring the rain and water, but now there have been many positive changes.

He said that he has lived 75 years of his life and understands that one person cannot make a success. He believes that over the past 30 years, Sasco has grown and will go further, under the direction of ACV and the solidarity of the enterprise itself.

Mr. Johnathan Hanh Nguyen hopes to witness the next 30 years of Sasco's development. He joked that "I will try to live until I am 105 years old, even if I am in a wheelchair, I will still sit there to accompany the growth of this business".

When asked about listing SAS shares on the Ho Chi Minh City Stock Exchange (HoSE), Mr. Nguyen Van Hung Cuong - General Director - said that Sasco had planned to implement this. However, because the listing requirement requires a certain number of investors, avoiding concentration, in the coming time, if conditions allow, the company will implement it, meeting the regulations.

According to the 2024 annual report, Vietnam Airports Corporation (ACV) holds 49.07% of Sasco's capital. Related companies owned by Mr. Hanh Nguyen hold 45.3% of capital, the rest are other shareholders and treasury stocks. Of these, Sasco has 19 institutional shareholders and 1,184 individual shareholders.

This year, Sasco's management board assessed that the macro economy has many positive growth indicators, the number of passengers arriving and departing at Tan Son Nhat airport is estimated to increase by 5% compared to last year. Tan Son Nhat's domestic terminal T3 also came into operation in April, opening up opportunities as well as challenges with the participation of many non-aviation service operators.

On that basis, the company sets a target of net revenue of VND 3,183 billion and pre-tax profit of VND 555 billion, up 3% and 10% respectively compared to the previous year.

One of the key plans of the enterprise this year is to focus resources on developing the service ecosystem at Long Thanh International Airport. Although it has to share market share with many other units, Sasco's leadership believes that with a larger market size, the absolute revenue will also be significantly larger. The interests of State shareholders are still put first.

The company established a strategy to expand cooperation with international partners, expand the service supply chain; integrate online retail platforms, diversify product sources and apply flexible sales policies.