This morning, shares of Quoc Cuong Gia Lai Joint Stock Company surged to their daily limit, surpassing the 10,000 dong par value, despite a decline in the VN-Index and many real estate stocks. Over 110,000 shares were traded before the midday break.

High-level leadership changes significantly influence Quoc Cuong Gia Lai's stock price. Yesterday afternoon, the company announced a change in the chief executive officer and legal representative roles, transferring them from Mr. Nguyen Quoc Cuong to Ms. Nguyen Thi Nhu Loan. This decision followed Ms. Loan's completion of her sentence in the case involving the illegal transfer of a 6,000 m2 "golden" land plot at 39-39B Ben Van Don to private hands.

On his personal Facebook, Mr. Nguyen Quoc Cuong, Ms. Loan's son, reflected on his two years as chief executive officer as a challenging journey. He stated that he views Quoc Cuong Gia Lai as more than just a company, considering it his mother's long-standing dedication and effort. He expressed hope that shareholders would remain committed to the company.

When Ms. Loan was arrested in mid-7/2024, Quoc Cuong Gia Lai's stock saw 9 consecutive sessions of decline, with 7 hitting the floor. Its market value nearly halved within just two weeks.

Over two years later, QCG has recovered approximately 75% of its value. The stock's current market capitalization stands at 2,800 billion dong. Holding nearly 102 million shares, Ms. Loan's assets are estimated at 1,050 billion dong based on market value.

Established in 1994, Quoc Cuong Gia Lai initially specialized in supplying sawn timber and exported wood products. The company later diversified into real estate, rubber, and hydropower.

Phuong Dong