The Ho Chi Minh City Stock Exchange (HoSE) announced the inclusion of BCG shares of Bamboo Capital Group Joint Stock Company under warning from September 22. The reason is that the enterprise submitted the semi-annual review financial report more than 15 days later than the prescribed deadline.
Previously, at the end of May, BCG shares were restricted to trading due to late submission of audited financial statements for 2024 for more than 45 days. In early July, the company continued to be warned by HoSE for not holding an annual general meeting of shareholders.
According to the new regulations of the KRX system, stocks with restricted trading are only allowed to match periodic orders many times, each period lasting 15 minutes and are not allowed to trade by agreement or at a single lot.
In an explanatory document sent to the State Securities Commission in August, Bamboo Capital said that its subsidiaries and affiliated companies are still in the process of completing audited financial statements for 2024 and the first quarter of 2025. At the same time, the enterprise is coordinating with all parties to handle bonds and debts, which is an important basis for completing financial statements. Therefore, BCG could not issue the report for the second quarter of 2025 on time.
Not only BCG, TCD shares of Tracodi Construction Group Joint Stock Company (a subsidiary of Bamboo Capital) were also included in the warning by HoSE. Tracodi said that the focus on completing the 2024 audit report and personnel changes has prevented the financial statements for the first and second quarters of 2025 from being completed.
Recently, Bamboo Capital has continuously had high-level personnel fluctuations. In March, the company announced that Mr. Tan Bo Quan Andy would hold the position of Chairman of the Board of Directors to replace Mr. Kou Kok Yiow. At the same time, two other members of the Board of Directors also withdrew for personal reasons.
Most notably is the position of general director when there have been 4 changes in just half a year. Mr. Nguyen Tung Lam left office at the end of February. His successor was Mr. Ho Viet Thuy, but he resigned in May.
Next, Mr. Pham Huu Quoc was appointed with the expectation of consolidating finances and optimizing operations. However, by the end of August, Mr. Quoc also left his position, giving way to Mr. Ng Wee Siong Leonard - the latest foreign factor to take over the management of Bamboo Capital.
