On May 6th, the Ho Chi Minh City Stock Exchange (HoSE) issued a decision to transfer the stocks of Bamboo Capital Joint Stock Company (code: BCG) from the warning list to the controlled list, effective from May 13, 2025.
The reason for this decision, as stated by HoSE, is that Bamboo Capital delayed the submission of its 2024 audited financial statements by more than 30 days past the regulatory deadline, falling under the criteria for controlled securities.
On the same day, another company related to the “Bamboo Capital” group, Tracodi Construction Joint Stock Company (code: TCD) , was also transferred by HoSE from the warning list to the controlled list, effective May 13, 2025, for similar reasons. Tracodi Construction had delayed the submission of its 2024 audited financial statements beyond the regulatory timeframe.
Also, on May 6th, HoSE issued a reminder to BCG and TCD regarding their delayed disclosure of the Q1/2025 financial statements. Both companies have yet to publish their Q1/2025 financial statements (separate and consolidated) in Vietnamese and English as required.
In a recent explanation dated April 21st, Bamboo Capital attributed the delay in submitting its 2024 audited financial statements to various changes involving major shareholders and personnel at the company and its subsidiaries, which disrupted the process of preparing the financial statements due to ongoing investigations.
Bamboo Capital is currently in the process of finalizing its 2024 audited report. As of now, only 4 out of 45 companies have completed the issuance of their reports, hence, Bamboo Capital is unable to publish its consolidated audited financial statements within the stipulated timeframe.
The completion of the audited reports for the subsidiary units is expected by August 2025. Consequently, the consolidated audited financial statements of the Group will be released in early September 2025.
Meanwhile, Tracodi has also provided a justification for the delay, citing significant changes in the company’s operations and an ongoing comprehensive restructuring to stabilize its business performance in the new context. These factors have resulted in a longer-than-expected timeline for the auditing and evaluation processes conducted by the auditing firm.
Tracodi is actively collaborating with the Southern Financial Accounting and Auditing Consulting Service Company to finalize the 2024 financial statement audit as soon as possible.
In a related development, earlier in March, Bamboo Capital announced that it had received notification from the competent authorities regarding the decision to prosecute the case and initiate legal proceedings against Mr. Nguyen Ho Nam, former Chairman of Bamboo Capital, the parent company of TCD and BCG Energy. Additionally, the authorities decided to prosecute Ms. Huynh Thi Kim Tuyen, Vice Chairman of TCD’s Board of Directors.
Following this news, the “Bamboo” group of stocks experienced consecutive floor sessions, pushing many stock prices to historical lows. Currently, BCG’s share price has dropped to VND 3,020/share, while TCD’s share price stands at VND 1,890/share.
