According to the Resolution of Quoc Cuong Gia Lai Joint Stock Company (QCG), Mr. Nguyen Quoc Cuong will be the legal representative and General Director of this enterprise from July 22.
Previously, Mr. Cuong's mother, Ms. Nguyen Thi Nhu Loan, took on these two roles. On July 19, Ms. Nguyen Thi Nhu Loan was prosecuted and temporarily detained to serve the investigation related to project 39 - 39B Ben Van Don (District 4, Ho Chi Minh City).
Quoc Cuong Gia Lai will hold its second annual meeting in Ho Chi Minh City on July 30. The first meeting of this business was unsuccessful because the attendance rate did not meet the regulations. At the meeting scheduled for next week, the company will submit to the general meeting of shareholders to approve the dismissal of Ms. Nguyen Thi Nhu Loan. At the same time, Quoc Cuong Gia Lai will additionally elect Mr. Cuong as a member of the Board of Directors for the 2022-2027 term.
According to Quoc Cuong Gia Lai's management report, at the end of 2023, Mr. Cuong held 537,500 shares, Ms. Loan (Mr. Cuong's mother) held nearly 102 million shares, equivalent to 37% of capital, and Ms. Nguyen Ngoc Huyen My (Ms. Loan's daughter) owns nearly 39.4 million shares, 14.3% of capital.
Mr. Nguyen Quoc Cuong was a member of the Board of Directors and Deputy General Director of QCG. By the end of 2018, Mr. Cuong stepped down from these two roles in the context of the company's business operations facing many difficulties.
After that, Mr. Cuong established Chanh Nghia Quoc Cuong Joint Stock Company (C-Holdings), specializing in developing real estate projects in Binh Duong.
Quoc Cuong Gia Lai's shares traded with an average volume of more than 1 million shares in a recent year. But after CEO Nguyen Thi Nhu Loan was arrested on July 19, this code was "empty on the buyer's side" and liquidity dropped sharply.
QCG shares today (July 23) continued to decrease to 7,850 VND. This is the 3rd consecutive session this code has dropped to the floor. Closing today's session, this code had a surplus of more than 6.94 million shares.
