Cuong Dola, on behalf of his biological mother, to pay off his trillion-dollar debt, suddenly mentioned Ms. Truong My Lan

Quoc 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 'revolve' the source of m.oney to repay debt, and at the same time mentioned Ms. Truong My Lan .

Accordingly, this year's General Meeting of Shareholders of Quoc Cuong Gia Lai was noticed by a series of related information about the business, including the prosecution of Ms. Nguyen Thi Nhu Loan and Mr. Nguyen Quoc Cuong, aka Cuong 'dollar'. (son of Ms. Nguyen Thi Nhu Loan) was appointed General Director and legal representative of the company.

During the discussion, Quoc Cuong Gia Lai shareholders asked about solutions to problems in upcoming projects and business plans. Mr. Nguyen Quoc Cuong was the person who directly answered the questions.

When asked when Quoc Cuong Gia Lai will complete its financial obligations at the 6B Residential Area project, Binh Chanh district and hand over the house to customers, Mr. Cuong said the project has encountered legal problems for more than 10 years. this year. Currently still stuck at the land valuation stage, the company is processing the documents.

For the Bac Phuoc Kien Residential Area project, Nha Be district related to the Van Thinh Phat Group case, shareholders asked if Quoc Cuong Gia Lai returned 2,880 billion VND (this is the amount paid by Sunny Island Company). before buying the project - PV), can I get the project back or not?

Mr. Cuong said that according to the ruling of the Vietnam International Arbitration Center (VIAC), Quoc Cuong Gia Lai only had to return to Sunny Island Company 50% of the deposit, equivalent to 1,440 billion VND. After that, the project was related to the case at Van Thinh Phat Group and the Court forced Quoc Cuong Gia Lai to pay 2,880 billion VND for Ms. Truong My Lan to overcome the consequences.

According to Mr. Cuong, the project's legal documents are currently frozen and cannot be used as collateral for any loans. In case Quoc Cuong Gia Lai finishes paying 2,880 billion VND, he will get the project back. The company's leadership has a plan to continue implementing this project.

"Recently, Quoc Cuong Gia Lai has had many unfortunate events, the incident is still being clarified by the investigation agency; however, that does not mean that the company is affected. As General Director, I promise will try to make the company operate as smoothly as possible," Mr. Cuong said and called on shareholders to accompany the company through difficult times.

To be able to manage enough m.oney to repay debt, Cuong Do La said that the company is divesting capital from 3 hydroelectric projects (expected to be completed in the fourth quarter of 2024), estimated to earn more than 1,000 billion VND; Handling inventory from completed projects, expected additional revenue of about 1,000 billion VND. If not enough, we will continue to divest capital from other businesses. "After receiving back 65 hectares of land belonging to the Phuoc Kien project transferred to Sunny Island, the company will plan to find other partners to restart the project, possibly next year," Mr. Cuong said.

Currently, Quoc Cuong Gia Lai still owes about 4,900-5,000 billion VND out of a total capital of 9,000 billion VND. According to Mr. Cuong, based on the financial report, the amount of interest the company is paying is only about 3%, about 300 billion VND. Therefore, debt will not be too much pressure for businesses in the near future.

In addition, Mr. Cuong also informed that the Marina Da Nang project is one of the most legally complete projects today. The company is fulfilling its financial obligations to the State and is expected to sell products early next year.

After Ms. Nguyen Thi Nhu Loan was arrested, QCG's shares continuously dropped to 'floor level', however on the trading session on July 30 when Cuong Do La appeared, the stock price immediately increased to the ceiling.

Cuong Dola's parent company evaporated 800 billion after 1 week, major creditors immediately appeared Thảo Mai10:22:29 26/07/2024Ms. Nguyen Thi Nhu Loan - Cuong Do's biological mother was recently arrested by the Police Department investigating corruption, economic and smuggling crimes (C03, Ministry of Public Security) for violating management regulations. , using State assets causing loss and waste.