Song Hong Corporation used to be a large construction enterprise in the market - Photo: SHG Website
Song Hong Joint Stock Corporation (SHG) has just announced that it has received the resignation letter from Mr. Tran Huyen Linh as Chairman of the Board of Directors.
Mr. Tran Huyen Linh (born in 1976) has been the chairman of the SHG board of directors since mid-2016. In his resignation letter, Mr. Linh said he had "worked his best with the desire to build a stable and developing corporation".
However, for personal reasons, Mr. Linh said he could no longer continue to hold the position of chairman of the company's board of directors after 8 years of association.
Recently, this enterprise has recorded changes in leadership personnel. In early August, the SHG Board of Directors also dismissed Mr. Nguyen Duc Toan from the position of deputy general director.
Earlier this year, Mr. La Tuan Hung - member of the board of directors, former general director of SHG - was also arrested for violating bidding regulations causing serious consequences.
To date, SHG has not yet released its financial statements for the first and second quarters of this year. According to its consolidated financial statements for 2023, the company suffered a loss after tax of more than VND70 billion, down from a loss of nearly VND178 billion in 2022.
Looking back at the data, since 2014, SHG has had 9 years of continuous losses. Therefore, by the end of 2023, the corporation had accumulated losses of up to 1,336 billion VND. The equity was negative more than 1,000 billion VND.
In the 2023 mid-year consolidated balance sheet, the enterprise recorded liabilities of VND 2,143 billion, exceeding total assets (VND 1,113 billion).
In the audited financial statements for 2023, the auditor also expressed an exception opinion on some payables and receivables of the corporation.
"The ability of the corporation to continue to operate depends on the recovery of debts and the improvement of the efficiency of the premises leasing business, and the support of capital from shareholders.
The above conditions indicate the existence of a material uncertainty that may cast significant doubt on the ability to continue as a going concern," the auditor emphasized.
Also related to SHG, the Ministry of Construction auctioned off all 49.04% of its capital holding, and Song Hong Real Estate Investment Joint Stock Company (Song Hong Land) became the new shareholder.
Source: https://tuoitre.vn/chu-tich-song-hong-tong-cong-ty-co-9-nam-thua-lo-keo-dai-vua-nop-don-xin-nghi-20240828151017459.htm
Comment (0)