Truong My Lan's company: Debt of more than 9,000 billion VND, auditors refuse to give opinion

(Dan Tri) - Bong Sen Joint Stock Company is the owner of a series of prime real estate properties in Ho Chi Minh City, such as Palace Saigon Hotel, Bong Sen Hotel...

Bong Sen Joint Stock Company periodically sends information about business situation on Hanoi Stock Exchange (HNX),

It is noted that Bong Sen continues to operate below cost price. As a result, the company suffered a loss after tax of nearly VND356 billion in the first half of this year. As of June 30, Bong Sen has increased its total accumulated loss to nearly VND3,100 billion.

Regarding financial structure, due to losses, equity decreased to only VND 4,539 billion. On the contrary, total liabilities increased by nearly 9% to VND 9,076 billion.

The auditor, A&C Company, has refused to give an opinion on the financial statements of Bong Sen. The reason given is that "sufficient appropriate audit evidence could not be obtained", which shows that the transparency and reliability of the financial figures published by the company are being questioned.

Lotus's financial situation (Photo: HNX).

Bong Sen Company used to be a member of Saigon Tourist Corporation ( Saigontourist ) with a charter capital of 130 billion VND. This company was equitized in January 2005, after which the enterprise continuously increased capital and reduced state ownership.

After changing ownership, the company made a big splash in the acquisition of Daeha Joint Stock Company - the owner of Daewoo Hotel in Hanoi, spending thousands of billions of VND to own 51.05% of shares in the above company.

At the trial in mid-March 2024, Ms. Truong My Lan confirmed that Bong Sen belongs to her family and is holding 93.6% of the shares at the Daewoo Hanoi Hotel. Ms. Lan proposed to sell this hotel to pay for the consequences of the case.

In addition to Deawoo Hanoi, Bong Sen is the owner of a series of prime real estate properties in Ho Chi Minh City, including Palace Saigon Hotel (Nguyen Hue), Bong Sen Hotel (117-123 Dong Khoi), Palace Saigon (Hai Ba Trung)...

Source: https://dantri.com.vn/kinh-doanh/cong-ty-cua-truong-my-lan-no-hon-9000-ty-dong-kiem-toan-tu-choi-y-kien-20250908091814078.htm