KIDO CEO Tran Le Nguyen Takes Chair at Lavenue as 8-12 Le Duan Site Nears Transfer
This Aveluro analysis covers KDC (KIDO) on HOSE in the Food & Beverage sector. The classified event type is leadership change, with neutral sentiment and a deterministic market-impact score of 5.0/10. Source coverage came from CafeF - Doanh nghiệp, classified as a primary/top-tier source.
Key Facts
Caveat: Not investment advice. · How Aveluro computed this: Aveluro combines extracted event facts, source credibility, ticker context, and market data. Scores are deterministic research signals, not recommendations.
Overview
Tran Le Nguyen, CEO of KIDO Group (HoSE: KDC), has taken on the additional roles of Chairman and CEO of Lavenue Investment JSC, the developer behind the Lavenue Crown project at 8-12 Le Duẩn in Ho Chi Minh City. The appointment, reflected in corporate data updated to 22 September, places a KIDO executive at the helm of a long-stalled prime-site project just as city authorities plan to move the land into a fund reserved for BT (build-transfer) investors from April 2026. For KDC shareholders, the change touches a real-estate exposure that has already been heavily provisioned.
Key Facts
- Tran Le Nguyen is CEO of KIDO Group (HoSE: KDC) and now Chairman and CEO of Lavenue Investment JSC, per corporate data updated 22 September.
- Lavenue was established in 2010 and reported charter capital of VND 775 billion in 2016.
- The previous Lavenue chairwoman, Le Thi Thanh Thuy, was sentenced to five years in prison in September 2020 for violations in the management and use of state assets tied to the 8-12 Le Duẩn site.
- Lavenue Crown was planned as a 36-storey complex on nearly 5,000 sqm, with six retail floors, 220-250 five-star hotel rooms and 200 high-end apartments.
- From April 2026, Ho Chi Minh City plans to include the site in its land fund for payment to BT-project investors.
- KIDO’s carrying investment value in Lavenue was more than VND 315.8 billion as of 30 June, after a provision of nearly VND 754 billion booked in 2023.
- KIDO has injected more than VND 1,000 billion into Lavenue in total.
What Happened
According to corporate data updated to 22 September, Tran Le Nguyen, General Director of KIDO Group, has become Chairman of the Board and General Director of Lavenue Investment JSC. He replaces Le Thi Thanh Thuy, who was sentenced in September 2020 to five years in prison for violations in the management and use of state assets causing loss and waste, in connection with the 8-12 Le Duẩn land plot.
The Lavenue Crown project was conceived roughly a decade ago as the largest mixed-use complex on the Le Duẩn axis, combining luxury apartments, a five-star hotel and a premium shopping centre across 36 floors. In its most recent interim consolidated financial statements, KIDO said Lavenue’s investment project has been subject to comprehensive inspection by competent authorities since 2018, with court rulings issued at multiple levels over violations in the management and use of state assets. The site is now slated to enter Ho Chi Minh City’s land fund for BT-investor payment from April 2026.
Market Context
KDC closed at VND 51,000 on 24 September 2026 on the Ho Chi Minh Stock Exchange. The stock sits within the consumer staples sector, where KIDO’s core food and beverage business, including its Hung Vuong Plaza subsidiary, remains the primary earnings driver. The Lavenue matter is a legacy real-estate overhang rather than a current operating segment, and the carrying value of KIDO’s stake has already been reduced to just over VND 315.8 billion against more than VND 1,000 billion invested.
Strategic Significance
The chairmanship change matters less as a governance formality than as a signal that KIDO intends to stay directly involved in the resolution of its largest written-down asset. With the site entering the city’s BT payment land fund from April 2026, the key question for long-term holders is whether KIDO recovers value through compensation, a revised development plan, or a transfer to another investor. KIDO’s wider property pipeline, including Whale Bay, KDC Central Tower and KDC Residence on land held by group companies such as Tuong An and Vocarimex, suggests real estate remains part of its ecosystem strategy alongside food. The Lavenue outcome will shape how credibly that strategy can be funded.
What to Watch
- Ho Chi Minh City’s formal land-fund list and any valuation or compensation terms for the 8-12 Le Duẩn site from April 2026.
- KIDO’s next interim or annual financial statements for changes to the Lavenue carrying value or further provisions.
- Any Lavenue shareholder resolution, capital change or transfer of project rights following the leadership transition.
- Progress disclosures on KIDO’s other property projects, including Whale Bay, KDC Central Tower and KDC Residence.
- Updates on the legal status of the Lavenue Crown case and any remaining claims involving former management.