Rang Dong Plastics: From the Turning Point of Losing a Lawsuit Against Japanese Partner to the Tragedy, a Series of Creditors Stuck with Over 1,400 Billion, Vietcombank at the Top

Rang Dong Holding Joint Stock Company (stock code RDP) is currently in a crisis with a spike in bad debts and all members of the Board of Directors resigning. The company lost a lawsuit against Japan’s Sojitz Group in 2023, leading to a sharp decline in business activities. By early January 2025, its subsidiary Rang Dong Films had filed for bankruptcy. The company is owing nearly 1.372 trillion VND, with Vietcombank being the largest creditor, holding 366 billion VND in debt. Other major creditors include OceanBank and KasikornBank with hundreds of billions of debt owed to Japanese partners. The financial situation has worsened, resulting in delayed financial reporting since mid-2023. All subsidiaries and the parent company have halted operations, with most employees laid off. In the first half of 2024, the company reported a loss of nearly 65 billion VND, with cumulative losses of 266 billion VND. The RDP stock has been suspended from trading due to failure to submit necessary financial reports.