CTCP Rang Dong Holding, one of Vietnam’s top plastic companies, is facing the risk of bankruptcy. The Ho Chi Minh City Stock Exchange has announced the consideration of delisting RDP shares due to serious violations of information disclosure obligations. The company reported a net loss of nearly 143 billion VND in 2023 and a cumulative loss of 206 billion VND by the end of 2024. Revenue in the first six months of 2024 decreased by 44% compared to the same period last year. The company is burdened with debts totaling 1.717 trillion VND and only has 21 billion VND in cash left. On February 24, 2025, the Board of Directors resigned en masse, while a subsidiary requested a bankruptcy proceeding. Rang Dong Holding is managed by the family of former Deputy Minister Ho Thi Kim Thoa and is experiencing severe declines after many years of operation.
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