Nam Long (NLG) Proposes Board with 4 Foreign Members for 2026-2031 Term

Overview

Nam Long Investment Corporation (NLG) has proposed a new board of directors for the 2026-2031 term, featuring 5 Vietnamese and 4 foreign members. The list includes long-standing executives and new faces, reflecting the company’s push toward international integration and its goal to become a leading integrated real estate group by 2030.

Key Facts

• NLG proposes a 9-member board for the 2026-2031 term, with 5 Vietnamese and 4 foreign members.
• Founder Nguyen Xuan Quang (age 66) is renominated as Chairman, with over 35 years of real estate experience.
• Foreign nominees include Chad Ryan Ovel (US), CEO of Mekong Capital, board member since 2014.
• Lucas Ignatius Loh Jen Yuh (Singapore), NLG’s CEO since March 2024, is nominated; he has 20+ years in Asian real estate and finance.
• Kenneth Michael Atkinson (UK), founder of Grant Thornton Vietnam, board member since 2021, is also nominated.
• New nominees include Do Chi Hieu (VinaCapital real estate fund CEO) and Ho Hon Sang (Malaysia).
• The current board has 9 members; the new term will also have 9 members.

What Happened

Nam Long Investment Corporation (NLG) announced a board resolution proposing a slate of 9 candidates for the 2026-2031 term, to be voted on by shareholders. The list includes 5 Vietnamese and 4 foreign nationals, a notable increase in foreign representation compared to previous terms.

Key incumbents retained include founder and Chairman Nguyen Xuan Quang, Vice Chairman Tran Thanh Phong, and board members Chad Ryan Ovel and Cao Tan Thach. New nominees include Do Chi Hieu, CEO of VinaCapital’s real estate fund, and Lucas Ignatius Loh Jen Yuh, who joined as NLG’s CEO in March 2024. The board also nominated Kenneth Michael Atkinson and Ho Hon Sang to fill remaining slots.

Market Context

NLG shares closed at VND 29,000 on April 15, 2026, down 0.51% with volume of 3.3 million shares. The stock has been under pressure amid a sluggish real estate market, but the company’s focus on affordable housing and international partnerships may provide a long-term catalyst. NLG is listed on HOSE and is one of Vietnam’s leading residential developers.

Strategic Significance

The proposed board composition signals Nam Long’s commitment to international integration and professional management. The inclusion of foreign executives with experience at CapitaLand, Mekong Capital, and Grant Thornton suggests a push toward best practices in governance and expansion into new markets. The company aims to become an integrated real estate group by 2030, and this board structure could facilitate strategic partnerships and capital access.

What to Watch

• Shareholder approval of the board slate at the upcoming AGM.
• Any changes in strategic direction or partnerships following the new board’s formation.
• NLG’s financial performance in Q2 2026, particularly sales from affordable housing projects.
• Updates on the company’s joint ventures with foreign partners, if any.
• Foreign ownership limit changes or capital raising plans that may accompany the board restructuring.