Mr. Le Phuoc Vu took refuge in the Three Jewels (Buddha, Dharma, Sangha).

According to the Buddhist Information Portal of the Vietnam Buddhist Sangha, Mr. Le Phuoc Vu, Chairman of the Board of Directors of Hoa Sen Group (HSG), recently took refuge in the Three Jewels at Vien Minh Pagoda in Hanoi. This is an important ceremony, considered the starting point in a Buddhist's journey following Buddhist teachings. Buddhists can now live normally in the community, without the constraints of the Sangha like those who have become monks or nuns.

Mr. Le Phuoc Vu during the ceremony of taking refuge in the Three Jewels.Photo: Buddhist portal of the Vietnam Buddhist Association.

A representative of Hoa Sen Group affirmed that Mr. Vu still plays a very important role at the company and will appear at the extraordinary general meeting in early August to answer shareholders' questions about the plan to issue shares to strategic investors.

At the annual general meeting of shareholders earlier this year, Mr. Vu stated that for the past three years, he has rarely been present at the office, mainly managing his work remotely. During months when the market is sensitive, he calls General Director Tran Quoc Tri and Standing Vice Chairman of the Board Tran Ngoc Chu every day to update them on the situation; otherwise, he calls every two to three days.

"I often stay in the mountains or occasionally travel abroad to visit my wife and children. The management team is now truly mature and no longer dependent on Le Phuoc Vu. It would be a real mistake for a public company with over 20,000 shareholders to continue relying on me," Mr. Vu said.

Although he doesn't regularly manage the business, in recent months, the private companies owned by Mr. Vu have frequently traded HSG shares.