The investigation’s results from the State Securities Commission (for stock trading activities of Sao Thang Long Investment JSC (Sao Thang Long) and the verification results of the authorities, show that from 24/2/2020 – 1/10/2020, Giang Tuan Anh used one of his brokerage accounts and 22 other brokerage accounts of investors to trade DST stocks with the purpose of creating liquidity and fake supply and demand, thereby manipulating the stock price of DST.
The verification results from the authorities show that the price manipulation of DST stocks by Giang Tuan Anh did not result in any illegal profits.
At the closing of the trading session on April 17th, DST stocks decreased to VND 3,500 per unit, a drop of over 12.5% within the past year, and have plunged 86% since their listing.
Sao Thang Long Investment JSC., the predecessor of Nam Dinh Education Equipment and Books JSC was established in 2004 and listed on the Hanoi Stock Exchange (HNX) since 2007. In January 2018, the company restructured and changed its name to Sao Thang Long Investment JSC., operating under a corporation model with member companies and affiliates.
The
State Securities Commission has also just announced its decision to penalize Construction and Industrial Equipment Corporation (CEG) VND 65 million for the untimely disclosure of the following documents: the parent company’s and consolidated audited financial statements for 2021; annual reports for 2021 and 2022; corporate governance reports for 2021 and 2023; explanatory documents for the audit company’s disclaimer of opinion in the audit report on 2022 financial statements.
CEG, the predecessor of Construction and Industrial Equipment Company, was established in 1999 based on the equitization of the Construction Equipment Manufacturing Enterprise under the Construction and Supplies Trading Company. The Company operates primarily in the field of research, manufacturing, and trading of construction machinery, industrial equipment, especially concrete mixers.
In addition to announcing the penalty decisions, the State Securities Commission also issued a warning about the provision of online securities services.
Specifically, Vick JSC (Business Registration Certificate No. 0316298093) shows signs of providing investment advisory services without a license from the State Securities Commission, management, or supervision in accordance with the provisions of the law on securities (provision of specialist advisory services, advisory
investment in securities
for customers on technology platforms including websites and mobile applications).
The Commission recommends that investors exercise caution when using the service and take responsibility for any risks that may arise.
