Wednesday , December 7 2022

FLCHomes posts $1.9 mln loss in H1

Property developer FLCHomes posted a loss of VND43.6 billion ($1.87 million) in the first six months despite being in the black for the last four years.

The property unit of FLC saw revenue plunging 75 percent to VND400 billion.

The company failed to organize its annual general meeting last month as only over 50 shareholders with a combined ownership of 5.6 percent showed up.

It plans to make a second attempt to host the meeting this week.

FLC Chairman Trinh Van Quyet and Deputy Chairwoman Huong Tran Kieu Dung were arrested in March and April due to alleged stock manipulation.

Some localities, including Thanh Hoa, Quang Ngai and Gia Lai, have recollected or plans to recollect land they had earlier permitted FLC to develop into projects.

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