PC1 Board Member Dang Phan Tuong Prosecuted in EVNNPT Bidding Case

Overview

EEMC (Tổng công ty Thiết bị điện Đông Anh – Công ty cổ phần) disclosed that its board member, Dang Phan Tuong, has been prosecuted by the Ministry of Public Security’s investigative police agency (C01) as part of a criminal case involving the National Power Transmission Corporation (EVNNPT) and PC1 Group. The disclosure places a sitting board member of PC1 (HOSE) at the centre of a widening procurement and bidding investigation. Tuong previously chaired EVNNPT for nine years.

Key Facts

• EEMC received a notice from C01 regarding the prosecution of Dang Phan Tuong, a member of its board of directors.
• The investigation concerns EVNNPT, PC1 Group (Công ty Cổ phần Tập đoàn PC1) and related companies.
• The Ministry of Public Security has prosecuted 47 people on five charges: violations of bidding regulations causing serious consequences, violations of accounting regulations causing serious consequences, asset embezzlement, giving bribes, and receiving bribes.
• Dang Phan Tuong served as Chairman of the Members’ Council of EVNNPT for nine years, from 01/09/2011 to 01/09/2020, leaving under an early-retirement scheme.
• EVNNPT operates more than 33,400 km of transmission lines, including 12,335 km of 500kV lines and 21,070 km of 220kV lines, and 222 transformer stations as of end-2025.
• EVNNPT is a member unit of Vietnam Electricity (EVN), the state utility responsible for the national transmission system.
• PC1 last closed at VND 20,400 on 12 September 2026.

What Happened

EEMC said it received a notification from the Ministry of Public Security’s investigative police agency (C01) confirming that Dang Phan Tuong, a member of its board of directors, has been named as a defendant in a criminal case. The case is being investigated in connection with EVNNPT, PC1 Group and other related companies. The disclosure was made by EEMC in its capacity as a listed entity with a board member implicated in the proceedings.

The article notes that the Ministry of Public Security had earlier prosecuted 47 individuals in the EVNNPT investigation, covering five offences: violations of bidding regulations causing serious consequences, violations of accounting regulations causing serious consequences, asset embezzlement, giving bribes, and receiving bribes. Tuong’s tenure at EVNNPT ran from 1 September 2011 to 1 September 2020, when he left under an early-retirement arrangement. The source does not specify the exact charges against Tuong, the value of any contracts under scrutiny, or whether PC1 itself is a defendant rather than a party named in the investigation.

Market Context

PC1 trades on the HOSE exchange and last closed at VND 20,400 on 12 September 2026. The company sits in the construction and materials sector, with exposure to power transmission and energy infrastructure projects that frequently involve EVN group entities as counterparties or tender organisers. The investigation touches EVNNPT, the state transmission monopoly, and PC1 Group, a listed contractor with a long record of power-sector EPC work. Vietnamese market participants have become increasingly sensitive to legal and regulatory disclosures involving state-linked procurement, given the breadth of the current anti-corruption drive.

Strategic Significance

For long-term investors, the key issue is not the prosecution of one individual but the potential read-across to PC1’s project pipeline and its relationships with EVN group counterparties. If the investigation expands to cover specific tenders or contracts in which PC1 participated, the company could face delays in awards, tighter scrutiny of future bids, or provisions related to past projects. Conversely, if the case remains focused on individuals and historical conduct at EVNNPT, the operational impact on PC1 may be limited. The disclosure also raises governance questions about board composition and the oversight of executives with prior state-utility roles.

What to Watch

• Any further C01 notices or formal charges naming PC1 Group as a legal entity rather than a referenced party.
• PC1’s next regulatory disclosure or annual report, which may quantify any provisions or contingent liabilities.
• EVNNPT tender announcements and whether PC1 remains a participant in upcoming transmission packages.
• EEMC’s follow-up disclosures on Dang Phan Tuong’s status on its board.
• Trading volume and foreign-ownership filings in PC1 around the next disclosure window.