Enterprise with charter capital of 1,200 billion VND
McDonald's Vietnam has just announced the closure of its Ben Thanh branch at 2-2A Tran Hung Dao, District 1, Ho Chi Minh City, which is also the oldest branch of this fast food chain in Vietnam with a history of 10 years.
The reason for closing this branch was not announced by McDonald's Vietnam, however many people believe that the main reason is due to expensive rental prices.
McDonald’s is a fast food brand founded by Ray Kroc in the US. This brand is currently present in 118 countries with a chain of 35,000 restaurants on all continents. Every day, McDonald’s globally serves more than 70 million consumers.
McDonald's has been present in the Vietnamese market since 2014 through a franchise partnership. The company that the group has agreed to franchise its brand in Vietnam is Good Day Hospitality Joint Stock Company.
Good Day Hospitality was established on May 4, 2012, headquartered in District 1, Ho Chi Minh City. At the time of establishment, the company had a charter capital of 60 billion VND. By February 2014, Good Day Hospitality increased its charter capital from 60 billion VND to 100 billion VND. In the latest announcement of changes to business registration content in December 2023, Good Day Hospitality increased its charter capital from 1,000 billion VND to 1,200 billion VND.
The legal representative is Mr. Nguyen Huy Thinh. Mr. Thinh is also the legal representative of Good Day Hospitality Joint Stock Company branch, Good Day Hospitality Joint Stock Company branch in Khanh Hoa, Da Nang, Dong Nai, Binh Duong provinces, McDonald's Aeon Binh Duong store.
The founder and Chairman of the Board of Directors of this company is Mr. Nguyen Hoang Bao. Notably, in addition to being the Chairman of the Board of Directors of Good Day Hospitality, Mr. Nguyen Hoang Bao is also a senior leader at many large enterprises,...
Regarding the operations of McDonald's Vietnam, since its presence in Vietnam, McDonald's has opened 36 stores, of which 18 are in Ho Chi Minh City, 10 are in Hanoi, and the remaining 8 are in Da Nang, Binh Duong, Khanh Hoa, Hai Phong...
This number is only 1/3 of the ambition that the franchisee set when entering Vietnam.
According to Vietdata, in the period from 2020 to 2022, the brand's revenue has changed continuously over the years. In 2020, the brand's revenue reached nearly 450 billion VND. This figure decreased by 24% in 2021 and increased by 94% in 2022, reaching more than 650 billion VND.
After-tax profit has been negative for three years but has been on a downward trend. In 2020, McDonald’s after-tax profit was negative by more than VND180 billion. This figure decreased by 3% in 2021 and decreased by another 44% in 2022 to negative VND100 billion.
Mr. Nguyen Hoang Bao's ecosystem
The 2023 annual report and management report of Vietcap Securities JSC (VCI) stated that Mr. Nguyen Hoang Bao is a non-executive member of the Board of Directors of Vietcap Securities, appointed on April 9, 2021. Mr. Bao is also the husband of Ms. Nguyen Thanh Phuong - Chairman of the Board of Directors of this enterprise.
Ms. Nguyen Thanh Phuong, wife of Mr. Nguyen Hoang Bao, is also involved in the McDonald's franchise company in Vietnam as a member of the Board of Directors. At the same time, Ms. Phuong also holds many important positions in a number of companies related to Mr. Nguyen Hoang Bao such as: Chairwoman of the Board of Directors of Ban Viet Securities Fund Management Joint Stock Company, member of the Board of Directors of Good Day Hospitality Joint Stock Company, Phoenix Holdings Company Limited, and Ban Viet Real Estate Joint Stock Company.
Among them, Phoenix Holdings, chaired by Mr. Bao, is a company specializing in investing in companies in the fields of technology, consumer, retail, financial technology, education, etc., established in 2015.
In March 2022, Phoenix Holdings increased its charter capital from VND 300 billion to VND 600 billion. Of which, Mr. Nguyen Hoang Bao contributed VND 120 billion, and Ms. Nguyen Thanh Phuong - Mr. Bao's wife contributed VND 480 billion. Mr. Nguyen Lan Trung Anh, born in 1988, holds the position of General Director and legal representative of this enterprise.
Mr. Bao is also the General Director of Timo Vietnam JSC (the operator of Timo Digital Bank), Chairman of the Board of Directors of Ban Viet Real Estate JSC (VCRE), and Member of the Board of Directors of Ban Viet Fund Management JSC.
In addition, in the field of sports, Mr. Bao is also Chairman of Vietnam Basketball Joint Stock Company and Chairman of Vietnam Basketball Federation.
