On May 19, Dak Lak Provincial Inspectorate announced the decision to inspect Phuoc An Coffee Joint Stock Company. Company address Km26, National Highway 26, Ea Yong commune, Krong Pac district.
The content focuses on issues such as land management and use, determining the value of equitized enterprises and implementing regulations on garden contracts.
The inspectorate requested the company to prepare complete documents and send a representative to work with the inspection team. The inspection period is expected to be 30 working days.
Chief Inspector of Dak Lak province - Mr. Dinh Xuan Ha suggested that the company cooperate closely, creating favorable conditions for the inspection team to complete its tasks.
Phuoc An Coffee Joint Stock Company was established under the equitization plan in March 2017. The company has a charter capital of more than 136 billion VND and operates mainly in the field of coffee cultivation and processing.
According to financial statements, in 2023, the company recorded revenue of more than 25.5 billion VND but costs of up to 41.4 billion VND, leading to a loss of nearly 16 billion VND.
In 2024, revenue increased to VND 31.1 billion, but expenses also increased to VND 47.7 billion, causing losses to increase to more than VND 16.6 billion.
According to the company's explanation, the main reason for the increase in losses is that the enterprise has increased the provision of difficult-to-demand public debt reserves for households receiving coffee contracts for coffee crops last year.
