TV3 Party Expulsion: Former Chairman Nguyen Nhu Hoang Tuan Removed

Overview

The Ho Chi Minh City Party Committee’s Inspection Commission expelled four party members, including Nguyen Nhu Hoang Tuan, former Chairman of the Board of Power Construction Consulting JSC No.3 (TV3), and two other senior TV3 executives. The decision, announced on 17 September, cited violations of Party and state regulations that caused very serious consequences. For TV3, an HNX-listed construction and energy consultancy, the ruling removes the core of its board and executive leadership from Party ranks and puts governance under heightened scrutiny.

Key Facts

• The Inspection Commission announced the expulsions on 17 September at a Ho Chi Minh City Party Committee meeting.
• Four party members were expelled: Luu Phuoc Dung, Nguyen Nhu Hoang Tuan, Lac Thai Phuoc and Pham Hoang Vinh.
• Nguyen Nhu Hoang Tuan served as Party Secretary and Chairman of the Board of TV3.
• Lac Thai Phuoc was a Standing Committee member of the Party cell, a Board member and TV3’s General Director.
• Pham Hoang Vinh was a Party Committee member and TV3’s Chief Accountant.
• The Commission said the violations breached Party regulations and state law, caused very serious consequences and damaged the reputation of the involved organisations.
• TV3 shares closed at VND 14,500 on 17 September 2026 on the HNX.

What Happened

The Inspection Commission reviewed reports recommending disciplinary action against party members at the Khu pho 32 Party cell under the Thanh My Tay ward Party organisation and at the Party organisation of Power Construction Consulting JSC No.3 under the Xuan Hoa ward Party organisation. After assessing the nature, severity, consequences and causes of the violations, and applying Party regulations, the Commission decided to expel four members. The article names Luu Phuoc Dung, former principal of Sonadezi College of Technology and Management, alongside the three TV3 figures.

According to the Commission, the members violated Party regulations and state law, caused very serious consequences, damaged their personal reputations and negatively affected the Party organisations where they worked. At the same meeting, the Commission also resolved a disciplinary appeal by one party member and concluded several other matters, and asked the Standing Board of the City Party Committee to consider disciplinary action against violating members within its authority. The article does not disclose the specific violations, the financial impact on TV3, or any board or management changes at the company.

Market Context

TV3 trades on the HNX, Vietnam’s smaller exchange for mid-cap and small-cap listings, and closed at VND 14,500 on 17 September 2026. The company operates in construction and energy consulting, a sector tied to power project pipelines and public investment cycles. Party disciplinary action against a listed company’s leadership is a governance event that can affect investor confidence, particularly for small-cap HNX names where disclosure and board independence are already under market scrutiny. The article does not indicate whether the expulsions have triggered any regulatory review by the State Securities Commission or the HNX.

Strategic Significance

For long-term investors, the key issue is not the Party discipline itself but what it signals about internal controls at TV3. The simultaneous removal of the chairman, general director and chief accountant from Party ranks points to governance failures at the top of the company, and raises questions about the integrity of financial reporting and project execution. Because TV3 is a small-cap HNX listing, the market may reprice governance risk before any operational impact becomes visible. The absence of disclosed details on the violations leaves the scope of potential legal or financial consequences unresolved.

What to Watch

• Any TV3 announcement on board or management changes following the expulsions.
• Disclosure from the HNX or State Securities Commission on whether the case triggers a review or trading caution.
• TV3’s next financial statements for signs of restatement, write-downs or audit qualifications.
• Details of the specific violations from the Inspection Commission or the Standing Board of the City Party Committee.
• Share price and liquidity reaction on the HNX in the sessions following 17 September 2026.