Cuong Do La's biological mother lost more than 450 billion VND in assets and was in debt of more than 5,000 billion VND

The recent arrest of Mrs. Nhu Loan - Cuong Do La's biological mother - is making the entire internet confused. Accordingly, her business became increasingly unprofitable and her capitalization value decreased sharply.

On July 19, Ms. Nguyen Thi Nhu Loan, General Director of Quoc Cuong Gia Lai Joint Stock Company was prosecuted, detained and her house searched for violating regulations on management and use of State assets causing loss. , waste. Ms. Loan is accused of being involved in violations in the transfer of project 39-39B Ben Van Don, Ward 12, District 4, Ho Chi Minh City in the investigation case of expanding violations at Viet Rubber Industry Group. Nam, Dong Nai Rubber Company, Ba Ria Rubber Company, Ministry of Natural Resources and Environment, and related units.

Regarding the arrest of Ms. Nguyen Thi Nhu Loan, many people are curious about Quoc Cuong Gia Lai's business situation in recent years when Ms. Loan is the largest shareholder of the company owning 101.9 million. Quoc Cuong Gia Lai shares, accounting for 37.05% of the enterprise's charter capital. Ms. Loan and her daughter Nguyen Ngoc Huyen My have a total ownership ratio of 51.3% of the capital.

As of March 31, Quoc Cuong Gia Lai's total assets reached VND 9,515 billion. The company's cash is about 30 billion VND. This enterprise recorded more than VND 5,161 billion in liabilities, of which VND 4,300 billion was in loans and short-term financial lease debt.

With the unfavorable developments of Quoc Cuong Gia Lai shares since the beginning of July until now, not only shareholders and investors holding Quoc Cuong Gia Lai shares have suffered losses, but the major shareholders are CEO Quoc Cuong's mother and son. Gia Lai also suffered a heavy decline in assets. The total value of assets of Ms. Loan and Ms. My in the past 15 trading days is 633.5 billion VND, Ms. Loan alone lost 457 billion VND.

Regarding the business situation in 2023, the Company recorded 432 billion VND, down 66% compared to the same period in 2022. Profit after tax was only 3.2 billion VND, equivalent to 1/10 of the results achieved last year ( In 2017-2018, the company even had a profit of up to a hundred billion VND). Net cash f.low from business activities in 2023 is negative by nearly 33 billion VND while in 2022 is also negative by more than 121 billion VND.

In the first quarter of 2024, Quoc Cuong Gia Lai's revenue situation still did not meet expectations. Net revenue only reached 39 billion VND, down 77% over the same period and net profit was only nearly 1.4 billion VND. According to the explanation, the difficult real estate market, overlapping project legal procedures, and still being revised and completed have caused this business to encounter difficulties and revenue and profits to decrease.

During shareholder meetings, Ms. Nhu Loan repeatedly mentioned problems with management policies in the real estate sector that caused difficulties for Quoc Cuong Gia Lai and affirmed "I am not incompetent".

Regarding Quoc Cuong Gia Lai, once a large real estate enterprise in the market, the Company has continuously declined for many years, especially "entangled" in the Phuoc Kien project.

Latest information related to the Van Thinh Phat case, the Trial Council sentenced Quoc Cuong Gia Lai to return the entire amount of m.oney received from defendant Truong My Lan, which is 2,882.8 billion VND, to ensure justice. sentence for defendant Truong My Lan in the entire case. It is known that this amount of nearly 2,883 billion VND, disbursed by the purchasing partner of the Phuoc Kien project, Sunny Island Investment Joint Stock Company (Sunny), to Quoc Cuong Gia Lai, is frozen at SCB Bank.

Not only was it forced to refund the above large amount of m.oney, the Bac Phuoc Kien Residential Area project was also on the list of 16 distrained real estate properties in Phuoc Kien commune, Nha Be district, Ho Chi Minh City (an area of about 1 hectare under the Project). Bac Phuoc Kien Residential Area Project). The jury proposed to assign C03 to continue investigating and clarifying to resolve in phase 2 of the case.

Cuong Do La's biological mother had been scammed out of 130 billion VND before "falling into the trap" and denounced 4 people Trí Nhi09:16:56 22/07/2024While Ms. Nhu Loan - Cuong Do La's biological mother was just arrested, the online community suddenly dug up the story of her denouncing four individuals, saying she had been defrauded of 130 billion VND. The lawsuit once caused a stir. the whole world.