On December 16, QCG shares of Quoc Cuong Gia Lai Corporation fell to the floor price after four consecutive days of hitting the ceiling price, closing before at 18,800 VND/share. The strong increase in QCG was previously linked to positive news regarding the Bac Phuoc Kien project expected to be implemented in 2025. However, the decline came after the police agency issued an investigation conclusion regarding Nguyen Thi Nhu Loan, former CEO, who is facing prosecution for violating state asset management laws, causing financial losses totaling nearly 542 billion VND, with Loan personally responsible for about 300 billion VND. The investigative agency also filed property liens against many assets of Loan to ensure compliance with obligations. This situation has impacted the asset value of major shareholders, including Loan, who holds 37.05% of the company’s shares.
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