Penalty Plagues Business Series

The State Securities Commission has recently issued a decision to penalize several companies for violating disclosure regulations. These companies have failed to disclose or delayed reporting the utilization of funds raised from bond issuances...

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In particular, the company named “CTCP Investment and Construction Vina2” was fined 92.5 million VND. The company did not disclose the documents: Report on the use of funds received from the issuance of bonds for the remaining bond balances audited by qualified audit organizations in the first 6 months of 2023, Report on the implementation of commitments of the issuing company to bond holders in 2022.

In addition, the company also did not disclose the financial reports and consolidated financial reports for 2022 that have been audited; report on the use of funds received from the issuance of bonds for the remaining debt audited by qualified audit organizations in 2022; report on the implementation of commitments of the issuing company to bond holders in the first 6 months of 2023; early redemption of bonds in 2022 for bond VC2H2122001, Resolution of bond holders’ conference VC2H2122001 number 126/2023/NQ-NSHTP-VC2H212201 dated October 26, 2023, regarding the change of bond term and other terms and conditions of bond VC2H2122001.

The companies were fined together for violating information disclosure related to bonds.

Similarly, the company named “CTCP Real Estate Sacom” was fined 92.5 million VND for not disclosing the periodic report on the implementation of the issuing company’s commitments to bond holders in 2022; report on the use of funds received from the issuance of bonds for the remaining debt audited by qualified auditors in 2022.

The company also failed to submit information on time with the semi-annual financial report for 2023; report on the use of funds received from the issuance of bonds for the semi-annual period of 2023; report on the implementation of the issuing company’s commitments to bond holders in the semi-annual period of 2023; early redemption of bonds for the code TT.BOND.2020.

The company named “CTCP Ninh Thuan Energy Industry” was fined 85 million VND for not submitting information to the Hanoi Stock Exchange, specifically, the company did not disclose the financial reports for 2020, 2021; report on the use of funds received from the issuance of bonds in 2020; report on the use of funds received from the issuance of bonds in 2020; report on the use of funds received from the issuance of bonds in 2020; report on the use of funds received from the issuance of bonds for the semi-annual period of 2023; early redemption of bonds for bond code TT.BOND.2020.

The company named “CTCP AFG Investment Da Nang” was fined 92.5 million VND for not disclosing the financial reports for 2020; report on the use of funds received from the issuance of bonds for the semi-annual period of 2021; report on the use of funds received from the issuance of bonds for the semi-annual period of 2021; report on the financial situation for the semi-annual period of 2021; report on the use of funds received from the issuance of bonds in 2020; and report on the use of funds received from the issuance of bonds in 2020.

SOURCEcafef
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