Released on bail, what did Ms. Nguyen Thi Nhu Loan do at Quoc Cuong Gia Lai?

Ms. Nguyen Thi Nhu Loan will accompany the leaders of Quoc Cuong Gia Lai to handle the work and investment projects that the company is implementing.

Quoc Cuong Gia Lai Joint Stock Company (stock code: QCG) announced information related to Ms. Nguyen Thi Nhu Loan - former General Director of this enterprise. Accordingly, Ms. Loan was changed the preventive measures by the Investigation Police Agency of the Ministry of Public Security on November 11. Currently, she is on bail while the authorities investigate the case.

After being released on bail, Quoc Cuong Gia Lai said that the former General Director will continue to contribute to the company's investment and business activities by accompanying the Board of Directors (BOD) and the General Directorate to resolve the work and investment projects that the company is implementing.

Ms. Nguyen Thi Nhu Loan (Photo: Bui Ngoc).

Ms. Loan was arrested in July on charges of violating the transfer of the 39-39B Ben Van Don project in Ho Chi Minh City. After that, Mr. Nguyen Quoc Cuong - Ms. Loan's son - was appointed as the legal representative and General Director of the company.

As the founder of Quoc Cuong Gia Lai, Ms. Loan has nearly 30 years of experience accompanying the business through various business activities and ups and downs.

According to the first half year management report, as of June 30, Ms. Loan owned nearly 102 million QCG shares, equivalent to 37% of capital. Ms. Nguyen Ngoc Huyen My (Ms. Loan's daughter) owned nearly 39.4 million shares, equivalent to 14.3% of capital.

Along with that, Mr. Lau Duc Huy (Ms. Loan's son-in-law) holds more than 10.5 million shares, accounting for 3.8%. Mr. Nguyen Quoc Cuong holds 537,500 shares along with a number of other related members who also own QCG shares.

In total, Ms. Loan and her family own about 59.9% of Quoc Cuong Gia Lai's capital.

Since Ms. Loan was arrested, QCG stock prices have fluctuated, with many sessions of continuous increase or decrease. At the end of the trading session on November 25, this stock was priced at VND11,000/unit, up 30% compared to the time of her incident.

Recently, marking the first business quarter under the management of General Director Nguyen Quoc Cuong, the company's revenue increased 2.6 times over the same period and after-tax profit increased 2.5 times, reaching 178 billion VND and more than 25 billion VND respectively.

The reason for the improved business results is that during the period, the company recorded a sudden increase in real estate revenue of more than 107 billion VND, which was not the case in the same period last year. The handover of apartments to customers was the reason for the company's increased profits, according to the company's explanation.

Accumulated revenue in 9 months reached more than 243 billion VND, down 12%, and profit after tax was nearly 9 billion VND, an improvement compared to the loss of 3.4 billion VND in the same period last year.

Quoc Cuong Gia Lai also withdrew its appeal, agreeing to pay 2,882 billion VND to Ms. Truong My Lan - Chairman of Van Thinh Phat as the court's verdict.

Source: https://baodaknong.vn/duoc-tai-ngoai-ba-nguyen-thi-nhu-loan-lam-gi-tai-quoc-cuong-gia-lai-235230.html