On May 16, PC1 Group Joint Stock Company (PC1) announced unusual information regarding receiving an official document from the Ministry of Public Security about handling legal violations by certain individuals at the company.
According to the information disclosed by the company, the investigative authority has initiated proceedings, arrested suspects for temporary detention, or applied detention measures against 7 individuals who are insiders of PC1.
Specifically, the 7 individuals include: Mr. Trinh Van Tuan, Chairman of the Board of Directors; Mr. Vu Anh Duong, Member of the Board of Directors; Mr. Vo Hong Quang, Member of the Board of Directors and Deputy General Director; Mr. Nguyen Minh De, Member of the Board of Directors and Deputy General Director of PC1, also General Director of Dong Anh Steel Pole Company Limited.
Mr. Trinh Ngoc Anh, Deputy General Director of PC1, Chairman of the Board of Directors of Tan Phat Minerals Joint Stock Company; Mr. Dang Quoc Truong, Deputy General Director; and Mrs. Tran Thi Minh Viet – Chief Accountant are also on the list of those prosecuted.
According to information from PC1, the mentioned acts include violations of accounting regulations causing serious consequences and embezzlement of assets.
The company stated that because many personnel who approved PC1’s financial reports must coordinate with the investigative authority and have been prosecuted and detained, the enterprise cannot publish the first quarter 2026 financial report on time.
The enterprise will publish it after completing the financial report.
Also today, PC1’s Supervisory Board issued a resolution to convene an extraordinary general meeting of shareholders in 2026.
According to the Supervisory Board, currently 4 Board members are detained and cannot exercise their rights and obligations as Board members. Therefore, PC1’s Board of Directors has only one member left, lower than the minimum number required by regulations, and does not meet the conditions to hold a Board meeting to convene the general meeting.
The extraordinary meeting is expected to be held in July. The final registration date for shareholders to attend the meeting is June 5. The meeting agenda is expected to include electing additional Board members and other issues under the authority of the general meeting.
On its website, PC1 introduces itself as a multi-sector economic group with over 60 years of operation in business fields: Energy and residential real estate – Industrial park investment; EPC general contractor, electrical construction and installation, and industrial production. PC1 is the main contractor for the 500kV transmission line project.
In the last three years, PC1 has been in the top 50 best-listed companies on the HOSE stock exchange; many consecutive years in the Top 500 largest private enterprises in Vietnam; Top 3 in Vietnam, Top 5 in Southeast Asia in the EPC general contractor field.
Experts suggest that when a stock suddenly drops sharply with abnormal liquidity not following the general market trend, investors should adhere to the principle of cutting losses to preserve capital.
Ministry of Public Security
Dong Anh Steel Pole Company Limited
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