New deal at Duc Giang Chemicals

TPO - The Board of Directors of DGC has authorized the Chairman and Director of Duc Giang - Dak Nong Chemical Company Limited to search for partners, negotiate, and determine the transfer value of the Duc Giang Alcohol Factory, and to sign contracts in accordance with current legal regulations.

Duc Giang Chemical Group Joint Stock Company (stock code: DGC) has just announced unusual information regarding a resolution of the Board of Directors approving the transfer of the Duc Giang Alcohol Factory. This factory is an asset of Duc Giang Chemical Company Limited - Dak Nong.

DGC authorizes the Chairman and Director of Duc Giang - Dak Nong Chemical Company Limited to seek partners, negotiate, determine the transfer value of the factory, and sign contracts in accordance with current legal regulations. The expected implementation time is in 2026.

According to DGC's annual report, in April 2024, Duc Giang Chemicals successfully bid for the Dai Viet Alcohol Factory for over 253 billion VND. This asset was seized to enforce a judgment against Dai Viet Co., Ltd. in Tam Thang Industrial Park, Cu Jut District, Dak Nong Province. Subsequently, DGC invested an additional 60 billion VND and put the factory into operation in December 2024.

Upon completion of the transaction, DGC renamed the Dai Viet Alcohol Factory to Duc Giang Alcohol Factory and transferred its management to its subsidiary, Duc Giang - Dak Nong One-Member Limited Company. Duc Giang - Dak Nong One-Member Limited Company then carried out the procedures for registering ownership and use rights of the assets, business registration, land lease, and other procedures to manage and operate the Duc Giang Alcohol Factory.

Duc Giang Chemical Group wants to sell the Duc Giang Alcohol Factory.

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On May 8th, Duc Giang Chemicals held its 2026 extraordinary general meeting of shareholders. At the meeting, shareholders approved several important matters related to governance, and DGC emphasized the company's long-term prospects.

DGC shareholders dismissed three members of the Board of Directors, including former Chairman Dao Huu Huyen and the Vice Chairman of the Board of Directors who are involved in a recent investigation; and appointed three new members to the Board of Directors, with Mr. Dao Huu Kha - the younger brother of former Chairman Dao Huu Huyen and currently holding 5.97% of shares in DGC - being elected as Chairman of the Board of Directors of Duc Giang Chemical Group Joint Stock Company.

In May, the Ho Chi Minh City Stock Exchange (HoSE) issued a document transferring DGC shares from the controlled category to the restricted trading category. DGC subsequently issued a document explaining the measures and roadmap to rectify the restricted trading status, due to the late submission of its audited financial statements for 2025, exceeding the stipulated deadline by more than 45 days.

In mid-March, the Ministry of Public Security announced that the Department of Investigation of Crimes related to Corruption, Economics, and Smuggling (C03) had temporarily detained Mr. Dao Huu Huyen, Chairman of the Board of Directors of Duc Giang Chemical Group and Chairman of the Board of Members of Duc Giang Chemical Company Limited - Lao Cai, for investigation into the following offenses: Violating accounting regulations causing serious consequences, Violating regulations on resource exploitation, and Causing environmental pollution.

Huyen's son, Dao Huu Duy Anh - Vice Chairman of the Board of Directors and former General Director of Duc Giang Chemicals, was arrested for investigation into the crime of violating accounting regulations causing serious consequences.

In the same case, Pham Van Hung, Director of Duc Giang Chemical Company Limited in Lao Cai , was arrested on charges of violating accounting regulations causing serious consequences and causing environmental pollution.

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Source: https://tienphong.vn/thuong-vu-moi-tai-hoa-chat-duc-giang-post1850210.tpo