Cuong Dollar reappears, his mother just got out on bail and posted this status, QCG suspected of having 'incident'?

After Ms. Nguyen Thi Nhu Loan - former General Director of QCG was released on bail, Mr. Nguyen Quoc Cuong (Cuong Dollar - Ms. Loan's son) updated his photo and status on his personal page, attracting the attention of many people.

Mr. Nguyen Quoc Cuong - General Director of Quoc Cuong Gia Lai Joint Stock Company (stock code: QCG) - this morning (November 27) posted an update on his personal page (with a blue tick), with the status line: "Working and striving every day is happiness". This is Mr. Cuong's latest move on social media since Ms. Nguyen Thi Nhu Loan was arrested in July.

Previously, on his personal page, Cuong Dollar had hidden all posts and photos. Cuong Dollar's account only displayed the cover photo posted on June 13. Similarly, Dam Thu Trang's account - Cuong's wife - also only had the cover photo posted from October 2021. Both accounts have turned off comments.

Cuong Dollar's account has not changed recently, while Dam Thu Trang's account has updated its status updates again. This morning, Cuong Dollar posted a new update on his personal page.

On November 25, QCG announced information related to Ms. Nguyen Thi Nhu Loan, whose preventive measures were changed by the Investigation Police Agency - Ministry of Public Security on November 11. Ms. Loan was released on bail while the authorities investigated the case. Currently, Ms. Nguyen Thi Nhu Loan continues to support the investment and business activities of Quoc Cuong Gia Lai Joint Stock Company by accompanying the Board of Directors and the General Director to continue to resolve the work and projects that are still being implemented.

QCG shares have continuously increased to the ceiling in the last 3 trading sessions. Currently, QCG shares have increased to the ceiling, reaching 12,550 VND/share and there are no sellers, with over 1.5 million units remaining to buy at the ceiling price. Since Ms. Loan was arrested in July, QCG shares have increased or decreased continuously in many sessions. Up to now, QCG has increased in price by nearly 40%.

Previously, in July 2024, Ms. Nguyen Thi Nhu Loan was arrested by the authorities for alleged violations in the transfer of the 39-39B Ben Van Don project, Ho Chi Minh City. At that time, Mr. Nguyen Quoc Cuong (Cuong Do La) returned to the family company and was appointed as the legal representative and General Director of the company.

Ms. Loan is a person of great influence at Quoc Cuong Gia Lai with nearly 30 years of accompanying and steering this enterprise. As of June 30, 2024, Cuong Do La's mother owns nearly 102 million QCG shares, equivalent to 37% of capital; Ms. Loan's daughter, Nguyen Ngoc Huyen My, holds nearly 39.4 million shares, accounting for 14.3% of capital; Ms. Loan's son-in-law, Mr. Lau Duc Huy, holds more than 10.5 million shares, accounting for 3.8%. Cuong Do La only holds 537,000 shares and a number of other related members also own shares of QCG. Ms. Loan's family members alone hold about 59.9% of Quoc Cuong Gia Lai's capital.

After Ms. Loan was arrested, Quoc Cuong Gia Lai experienced many difficulties, including the times when the stock price fluctuated, continuously increasing or decreasing. After the trading session on November 25, QCG shares were priced at VND11,000/unit, up 30% compared to the time when Cuong Do La's mother was detained.

The first quarter of Quoc Cuong Gia Lai, managed by Cuong Do La, showed quite good business results. The company had revenue 2.6 times higher than the same period and after-tax profit 2.5 times higher, reaching VND178 billion and more than VND25 billion, respectively.

The reason for the above improvement is said to come from the sudden increase in real estate revenue to more than 107 billion VND, which was not the case in the same period last year. This enterprise said that Quoc Cuong Gia Lai increased its profits thanks to the handover of apartments to customers.

Accumulated in the first 9 months, QCG's revenue reached more than 243 billion VND, down 12%, while after-tax profit was nearly 9 billion VND, an improvement over the same period last year, which was a loss of 3.4 billion VND. It should also be added that Quoc Cuong Do La has withdrawn its appeal and agreed to pay 2,882 billion VND to Ms. Truong My Lan - Chairman of Van Thinh Phat according to the court's decision.

Cuong Dola, on behalf of his biological mother, to pay off his trillion-dollar debt, suddenly mentioned Ms. Truong My Lan Minh Lợi14:52:32 31/07/2024Quoc Cuong Gia Lai Joint Stock Company (Quoc Cuong Gia Lai) held its annual General Meeting of Shareholders (AGM) in 2024. Cuong Dola replaced his mother to find the source of money to repay debt, and at the same time mentioned Ms. Truong My Lan.