Stocks increased by nearly 200%, 'Cuong Dollar's' assets increased by trillions

At the close of June 13, QCG shares of Quoc Cuong Gia Lai Joint Stock Company, of which Ms. Nguyen Thi Nhu Loan is a member of the Board of Directors and General Director, closed at VND12,050/share.

Since the beginning of May, QCG has had an impressive increase from VND 4,070/share to VND 12,050/share, an increase of 195%.

With this price increase, the assets of the "Cuong Dollar" family have also increased sharply. According to the 2022 Financial Report, Ms. Loan and her two children, Nguyen Quoc Cuong and Nguyen Ngoc Huyen My, hold nearly 142 million shares. If calculated according to QCG's price from the beginning of May, up to this point, Ms. Loan's family's assets have increased by VND 1,131 billion.

QCG increased its price after winning the lawsuit against Sunny Island in the dispute over the Phuoc Kien project in Nha Be. According to the decision of the Vietnam International Arbitration Center (VIAC), QCG terminated the contract in accordance with regulations and forced Sunny Island to return to QCG all land compensation and site clearance documents that Sunny Island had received according to the handover minutes dated March 31, 2017.

The reason is that Sunny Island handed over land compensation and site clearance documents for about 65 hectares of land from QCG to SCB without written consent or authorization from QCG as prescribed.

Quoc Cuong Gia Lai has just announced the convening of the Annual General Meeting of Shareholders scheduled to take place on June 24.

Business News

The stock market has a number of other important events of listed companies.

* LPB : LPBank announced the issuance of more than 32.92 million non-convertible, unsecured bonds. The number of bonds is divided into 2 types with terms of 7 years and 10 years, the offering price is 100,000 VND/bond.

* HAX : Hang Xanh Auto Service JSC announces the closing date for 2022 dividend payment in cash and shares. Last registration date June 22.

* API : Asia - Pacific Investment Corporation approved the issuance of more than 84 million shares offered to existing shareholders at a ratio of 1:1, with an offering price of VND 10,000/share.

* TEG : Truong Thanh Energy and Real Estate JSC closes the transaction date without the right to receive dividends for 2021 and 2022 on June 15. The last registration date is June 16.

* SBT : Thanh Thanh Cong - Bien Hoa Joint Stock Company will close the list of shareholders to issue nearly 67.32 million shares to pay dividends for the fiscal year 2021-2022 and the fiscal year 2019-2020 on June 21.

Transaction information

* NED : Hoang Long Group Investment JSC, the largest shareholder of Tay Bac Power Investment and Development JSC (NED), has registered to sell all of its nearly 2.23 million shares to restructure the business. The transaction will be conducted by negotiation and order matching, expected from June 15 to July 13.

* DIG : Mr. Nguyen Hung Cuong, Vice Chairman of the Board of Directors and son of Mr. Nguyen Thien Tuan, Chairman of the Board of Directors of DIC Corp, has just bought 3 million DIG shares to increase ownership from 9.66% to 10.16% of charter capital, the transaction was made on June 12.

* TMT : Mr. Bui Trung Dung, brother of Mr. Bui Van Huu, Chairman of the Board of Directors of TMT Automobile, registered to sell 31,732 shares from May 11 to June 9. As a result, Mr. Dung sold 30,000 TMT shares through the order matching method on the floor.

* PC1 : Mr. Nguyen Minh De, Deputy General Director of PC1 Group Corporation, registered to sell 1.1 million PC1 shares from June 16 to July 4.

* REE : REE Energy Company Limited has just sold 1.3 million PPC shares of Pha Lai Thermal Power JSC, out of a total registered 3.2 million shares. The transaction was conducted from May 11 to June 8.

VN-Index

At the close of June 13, VN-Index increased by 6.44 points (+0.58%), to 1,122.46 points. HNX-Index increased by 0.88 points (+0.38%), to 230.25 points. UpCoM-Index increased by 0.48 points (+0.57%), to 85.0 points.

SHS Securities assessed that VN-Index has reached the psychological resistance zone around 1,120 points. The fluctuations may continue in the coming sessions. Recent sessions show that the market is having good strength. SHS maintains its short-term expectation that VN-Index will continue to be positive in the coming time to aim for the target around 1,150 points.

According to BSC Securities, the VN-Index's upward momentum is being supported by cash flow. In the coming sessions, the main index of the Vietnamese stock market is likely to surpass the resistance level of 1,125 points.

Quoc Cuong Gia Lai borrowed hundreds of billions of dong from leaders . In the first quarter, Quoc Cuong Gia Lai recorded loans of up to hundreds of billions of dong from individuals in the leadership.

Source