Quoc Cuong Gia Lai shareholders meeting, Mr. Quoc Cuong promised to do his best to replace his mother

Mr. Nguyen Quoc Cuong affirmed that he will do everything to bring the best benefits to shareholders - Photo: BONG MAI

In the context of Ms. Nguyen Thi Nhu Loan being temporarily detained to serve the investigation of the 39-39B Ben Van Don project (District 4, Ho Chi Minh City), Mr. Nguyen Quoc Cuong took over the position of general director and legal representative of Quoc Cuong Gia Lai Joint Stock Company (stock code QCG), replacing his mother.

very stressful

At the congress, Mr. Nguyen Quoc Cuong expressed: “ On behalf of the Board of Directors, the Board of Management and the company, I would like to thank all shareholders who have accompanied the company for a very long time, always placing their trust in the company, even after the recent unfortunate incident.

Up to today, what I appreciate most is the sharing and encouragement from shareholders for the board of directors, the company, as well as for Ms. Nguyen Thi Nhu Loan personally.

Regarding holding the leadership position of the enterprise in the context of his mother's arrest, Mr. Cuong frankly shared: " It is really stressful. But our choices are not many. Once I take on the position, I will try my best to complete it in the best way, to do what is best for the company and shareholders."

He used to hold the positions of board member, deputy general director, and information publicizer of Quoc Cuong Gia Lai, but at the end of 2018, Mr. Cuong resigned for personal reasons and then established his own company.

He said he had certain advantages when he used to work at this company. However, having been away for a while, now that he has returned, everything has to start over.

In the shortest time, he will take over all the company's operations. At the same time, he assured: " From now on, all we can do is what brings the best benefits to shareholders."

Ms. Quynh Nhu (Tan Binh District, shareholder) came to encourage, hug and share with Mr. Nguyen Quoc Cuong. "He is just my nephew, but he is good, continue to support him", this shareholder said - Photo: BONG MAI

After paying Ms. Truong My Lan, you will receive all relevant documents and red books.

On this occasion, Mr. Nguyen Quoc Cuong also answered many questions from shareholders related to the company's projects.

First, regarding the Phuoc Kien project (Nha Be, Ho Chi Minh City), the enterprise received more than VND 2,880 billion from Sunny Land Company - related to Ms. Truong My Lan. However, after the Van Thinh Phat case was exposed, the court forced the return of the above amount so that Ms. Truong My Lan could ensure the execution of the judgment.

According to Mr. Cuong, fortunately, the records, red books... of Phuoc Kien have been sealed by the police, and have not been mortgaged or used as collateral for any loans from Sunny Land or Van Thinh Phat Group.

Therefore, when returning the above amount, Quoc Cuong Gia Lai will receive back "full documents and red books of all 65 hectares that we transferred to Sunny Land".

In the coming time, continue to implement legal procedures, put the project into operation, and find worthy partners to accompany.

Regarding the transfer of 3 hydropower plants, negotiations are underway with partners, expected to be completed this year.

Regarding the functional area 6B project (Binh Chanh district), the company is working with the Department of Natural Resources and Environment to re-evaluate and will have an official response for shareholders.

For Marina Da Nang, the most complete legal project of the enterprise, it is likely to be sold in the first quarter of 2025, with competitive product value.

Stocks move strongly

On the stock market, QCG shares have had a dramatic development. Having just gone through 6 consecutive floor-price sessions, after the news about Ms. Nhu Loan, this code reversed and hit the ceiling yesterday, with investors flocking to buy.

Even at present, this code is at the ceiling price of 7,240 VND/share.

Mr. Cuong explained that when looking deeply into the financial report, the annual interest payable is less than 300 billion VND, less than 3% of total assets (more than 9,500 billion VND). Therefore, debt has "never been a pressure" for this enterprise.

“The company’s financial situation is very good, there is nothing to worry about. I hope shareholders will accompany, trust, and stand side by side in the coming time and the time after that. Because the company has many good projects with high liquidity,” he emphasized.

Source: https://tuoitre.vn/quoc-cuong-gia-lai-dai-hoi-co-dong-ong-quoc-cuong-hua-doc-suc-thay-me-20240730120310359.htm