The stock market on May 14 witnessed a breakthrough for stocks in the Bamboo Capital ecosystem. BCG surged to its daily limit, rising nearly 7% to 3,290 VND per share with a buying queue of 9 million units at the ceiling price. Similarly, TCD – Tracodi and BCR – BCG Land also hit their daily limits, with millions of shares in the buying queue. UPCoM floor saw BGE – BCG Energy increase by 14% to 4,900 VND per share.
Figure 1: Stock market witnesses a breakthrough for Bamboo Capital ecosystem stocks
Bamboo Capital stocks soared following the announcement of the appointment of Mr. Pham Huu Quoc as the new CEO, replacing Mr. Ho Viet Thuy who had resigned. Previously, Mr. Quoc served as the Chief Financial Officer and Chief Accountant at Bamboo Capital and Deputy General Director and Chief Financial Officer at BCG Land. Thus, within a period of less than three months, Bamboo Capital has changed its CEO twice.
Bamboo Capital stated that the appointment of the new CEO demonstrates a strong step in strengthening the management team, enhancing financial governance, and improving operational efficiency during a challenging period.
At the same time, the company also announced changes in the positions of Chief Financial Officer and Chief Accountant. The personnel changes were announced along with new resolutions of the Board of Directors related to operations, as the company is in the process of reviewing and strengthening its management.
The top management of the companies in the Bamboo Capital ecosystem has been in flux following the news of Mr. Nguyen Ho Nam’s prosecution. Bamboo Capital confirmed that Mr. Nam no longer holds any role in the Board of Directors, Executive Board, or Supervisory Board as of April 27, 2024. Subsequently, Bamboo Capital announced that Mr. Tan Bo Quan Andy assumed the role of Chairman of the Board of Directors, replacing his predecessor, Kou Kok Yiow, who passed away due to a heart attack. At the same time, two members of the Board of Directors also resigned for personal reasons and to take on other assignments.
Currently, due to the late submission of financial reports, BCG and TCD stocks have been moved by HoSE from the warning status to the controlled status as of May 13, 2025.
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