Enterprises were penalized with a total fine of VND 92.5 million, including APAX English JSC, Phuc Long Van JSC, Ozen Health and Beauty JSC, and iGARTEN Education Development JSC. The four above-mentioned enterprises did not disclose many documents such as financial reports, reports on the implementation of commitments by the issuing enterprise to bondholders,
bond principal and interest payment status
, reports on the use of proceeds from bond issuance in 2021, 2022, 2023, etc.
Apax English is the most concerned enterprise among the above names. The company is chaired by Mr. Nguyen Ngoc Thuy (Shark Thuy). In March 2024, Mr. Thuy was prosecuted and detained for the crime of ”
Fraud
to appropriate property” through the form of transferring shares of Egroup Education Group JSC.
In Shark Thuy’s ecosystem, Apax Holdings Investment JSC (IBC) is the only enterprise listed on the stock exchange. However, at the end of 2023, IBC was forcibly delisted on HoSE, moved to trade on UPCoM, and was also immediately suspended.
Enterprises have the same violation of disclosing information related to bonds.
Also having
violations in disclosing information
related to
bonds
, but the penalty for Thuan Duc JSC was “lighter”, with a fine of VND 77.5 million. This enterprise did not disclose the semi-annually audited report on the use of proceeds from bond issuance in 2023.
Meanwhile, with 2 violations, Seedcom JSC was fined VND 162.5 million. Of which, VND 85 million is the fine for the act of not disclosing information with some
bond reports
, 2020 financial report, 2021 semi-annual report, etc. Seedcom was also fined VND 77.5 million for distributing private securities in violation of legal regulations with bond code SEECH212300.
Seedcom currently owns a retail ecosystem including The Coffee House coffee chain, Kingfoodmart, Hnoss fashion brand, Juno, etc.
