Mr. Do Xuan Lap, who was recently arrested for gambling, does not run Phu Tai Company.

Phu Tai Joint Stock Company (Phu Tai - stock code PTB) has just announced unusual information about Mr. Do Xuan Lap (Binh Dinh province), an independent member of the Board of Directors at the enterprise, who has just been prosecuted and temporarily detained for 4 months for the crime of "Gambling".

Accordingly, Phu Tai affirmed to shareholders that Mr. Do Xuan Lap did not directly participate in the management and operation activities of the company. Therefore, Mr. Lap's temporary detention does not affect the management of Phu Tai's production and business activities.

In mid-December 2024, Mr. Do Xuan Lap - Chairman of the Vietnam Timber and Forest Products Association - was arrested at the Diamond Club casino of Ngoi Sao Viet Hotel Company Limited (Le Van Sy Street, District 3, Ho Chi Minh City). The authorities arrested a number of businessmen and seized an amount of money equivalent to more than 18 billion VND.

In 2024, Phu Tai parent company's revenue will reach nearly VND 2,183 billion, pre-tax profit will be VND 309.2 billion. Consolidated revenue will reach more than VND 6,656 billion, pre-tax profit will be VND 471.2 billion.

Before being arrested, Mr. Do Xuan Lap was the General Director and legal representative of Tien Dat Wood Industry Joint Stock Company with revenue of thousands of billions of VND/year.

Closing the stock trading session on January 23, PTB shares reached 61,200 VND, down nearly 10% compared to the beginning of the month.