FLC Group

Update news FLC Group

The arrest followed the expansion of the police’s ongoing investigation over the case of market manipulation and appropriation of assets by deceit at FLC Group and other affiliates.

Trinh Van Quyet prosecuted for fraud

The Ministry of Public Security on August 25 launched criminal proceedings against Trinh Van Quyet, former Chairman of FLC Group, and three others on a charge of fraudulent appropriation of property.

FLC names new vice president to replace Dang Tat Thang

The Board of Directors of FLC Group has approved the resignation of Vice Chairman Dang Tat Thang and elected Mr. Doan Huu Doan to replace Mr. Thang as of August 17.

FLC, HAI face trading suspension

The Hochiminh Stock Exchange (HOSE) will ban FLC Group (FLC) and HAI Agrochem JSC (HAI) from trading their shares due to delays in releasing their audited 2021 financial reports.

Big bosses of airline, securities company leave ‘hot seats’

Changes in leadership positions at Bamboo Airways, Louis Capital and Tien Phong Securities were the business highlights of last week.

FLC has new chairman

Le Ba Nguyen has been named the new board chairman of FLC Group in the 2021-2026 tenure.

FLC shares to trade under supervision due to late financial statement

The Ho Chi Minh Stock Exchange (HoSE) just released a decision to transfer FLC shares of FLC Group (FLC) from a warning to the under supervision list starting from May 12.

Three stocks in FLC family put on warning list

Three stocks linked to Vietnamese diversified conglomerate FLC Group, including FLC, ROS and HAI, will be put on the warning list as from April 26 by the Hochiminh Stock Exchange (HOSE).

Prior to Trinh Van Quyet’s arrest, FLC Group had proposed many giant projects

The FLC Group has recently proposed many large-scale projects, with a total investment of up to VND80,000 billion.

Another sister of former FLC Group CEO arrested

Trinh Thi Thuy Nga, the sister of former FLC Group CEO Trinh Van Quyet, has been arrested by the Police Investigation Agency in a stock market manipulation case.

Watchdog agency tightens control over share trading

The cash flow into stocks of big companies is being strictly supervised.

Another detained on charge of stock market manipulation

The police decided to launch criminal proceedings against and detain Trinh Thi Minh Hue, a member of FLC Group's accounting department, for assisting Trinh Van Quyet on the charge of stock market manipulation.

Market violation cases on the rise despite fines

Although the current Securities Law includes severe penalties, the number of stock price manipulation cases is increasing, causing great damage to the market and frustration for investors.

The creditors of the FLC Group

FLC’s finance report showed that as of December 31, 2021, FLC’s short-term loans and finance leasing value had reached 2 trillion, while long-term loans and finance leasing value was VND4.1 trillion.

 

Central Inspection Commission considers penalising SSC heads

Violations by the 2015-2020 State Securities Commission (SSC) Party Committee and its officials were found to have significant implications,

FLC Chair sees stock assets plunge following arrest

Among FLC-family shares, ROS shares saw the stock assets of FLC Chair Trinh Van Quyet climb to a peak and then fall.

Bamboo Airways chair arrested, CAAV to supervise the air carrier

On March 30, the Civil Aviation Authority of Vietnam had an urgent meeting with Bamboo Airways’ leaders following the arrest of Trinh Van Quyet, Chair of FLC Group and Chair of Bamboo Airways, who has been charged with stock market manipulation.

FLC Group has new chairman after Quyet’s arrest

Property developer FLC Group announced on March 31 that Dang Tat Thang will be chairman of the group and Bamboo Airways until a new decision from shareholders' meeting and the board of directors.

Stock market manipulation almost brought huge sum to FLC chairman

High-profile FLC Group chairman Trinh Van Quyet would have enjoyed illicit perks worth over VND530 billion if his sale of 74.8 million FLC shares had not been cancelled in January for his failure to disclose information prior to the transaction.

Many businessmen sentenced to jail in 2020 for stock market manipulation

In 2019, the Hanoi People's Court for the first time put a case of stock price manipulation to trial. Since then, many businessmen have had to pay a heavy price for their market manipulation.