UBCKNN fines Sacom Real Estate JSC 92.5 million VND for violating securities and stock market regulations
On February 1, the State Securities Commission’s Inspectorate issued Decision No. 50/QD-XPHC imposing administrative sanctions in the securities and stock market sector on Sacom Real Estate Joint Stock Company (Samland).
Specifically, Samland was fined 92.5 million VND for failing to regularly disclose information to the Hanoi Stock Exchange (HNX) regarding the periodical report on the implementation of commitments by the issuing enterprise to bondholders in 2022, and the report on the use of proceeds from the issuance of the bond to the audited bonds still outstanding in 2022.
In addition, Samland also failed to timely disclose information to HNX regarding the semi-annual report on the use of capital from the issuance of biennial bond and the payment of interest and principal on the biennial bond in 2022.
Samland fined 92.5 million VND by UBCKNN
Samland is headquartered in Bien Hoa 1 Industrial Park (within the premises of the Cable and Telecommunications Material Joint Stock Company), An Binh Ward, Bien Hoa City, Dong Nai Province. According to the updated business registration as of February 2023, Mr. Tran Viet Anh (born in 1985) holds the position of General Director as well as the legal representative.
In 2023, Samland plans to delist from the Ho Chi Minh City Stock Exchange (HoSE). The reason given is that the current listing plan on HoSE is no longer in line with Samland’s future direction.
Moreover, on January 31, the State Securities Commission also issued Decision No. 48/QD-XPHC imposing administrative sanctions in the securities and stock market sector on AFG Investment Joint Stock Company (AFG Da Nang).
Specifically, AFG Da Nang was fined 92.5 million VND for failing to send information disclosure documents to HNX, including the financial statements for 2020, the report on the use of capital from the issuance of biennial bond in 2021, the payment of interest and principal on the biennial bond in 2021, the semi-annual financial statements for 2021, the report on the use of capital from the issuance of bond in 2020, and the payment of interest and principal on the bond in 2020.
AFG Da Nang is located at Lighthouse Building, 1254 Xo Viet Nghe Tinh Street, Hoa Cuong Nam Ward, Hai Chau District, Da Nang City. Founded in September 2017, the company increased its charter capital from 50 billion VND to 150 billion VND by June 2019. Mr. Nguyen Trung Kien (born in 1983) is the General Director and legal representative.
Furthermore, on January 30, the State Securities Commission issued Decision No. 43/QD-XPHC imposing administrative sanctions in the securities and stock market sector on Ninh Thuan Energy Industry Joint Stock Company.
Specifically, Ninh Thuan Energy was fined 85 million VND for failing to send information disclosure documents to HNX, including the financial statements for 2020, the financial statements for 2021, the report on the use of capital from the issuance of bond in 2020, and the payment of interest and principal on the bond in 2020.
The company also failed to send timely information disclosure documents to HNX, including the semi-annual financial statements for 2023, the report on the use of capital from the issuance of biennial bond in 2023, the payment of interest and principal on the biennial bond in 2023, the report on the implementation of commitments by the issuing enterprise to bondholders in 2023, and the information disclosure report regarding the early redemption of TT.BOND.2020 bond.
Ninh Thuan Energy Industry Joint Stock Company is located at TM18-49, K1 Area, Chu Manh Trinh Street, Thanh Son Ward, Phan Rang-Thap Cham City, Ninh Thuan Province.
Established in February 2017, the enterprise is currently led by Mr. Le Manh Ha (born in 1974) as General Director and legal representative. According to the business registration as of November 2020, the company increased its charter capital from 360 billion VND to 1,232 billion VND with contributions from five shareholders: Le Anh Duc, Nguyen Thu Mai, Tran Dai Phong, Le Nguyen Hoang, and Nguyen Quoc Vinh.
