Rang Dong Holding Co., Ltd (stock code: RDP) has been placed under bankruptcy proceedings by the People’s Court of Ho Chi Minh City after its subsidiary Rang Dong Films filed for it, indicating that Rang Dong Holding can no longer meet its financial obligations. The court has mandated creditors to submit claims within 30 days. Founded between 1960 and 1975, Rang Dong Holding was once a leading plastic company but has reported substantial losses since 2016. In 2023, it recorded a historic loss of 147 billion VND, with cumulative losses amounting to 206 billion VND. Its stock was delisted from HoSE and later suspended from trading on Upcom. The company has failed to timely report financial statements, resulting in penalties. By early 2024, the entire Board of Directors had resigned, and shareholder meetings could not proceed due to low attendance. The financial and management situation of Rang Dong Holding is precarious.
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