Hai Chau’s orange cookies are a famous Vietnamese treat, evoking childhood memories for many – Illustration
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On August 22, the State Securities Commission (SSC) issued an administrative sanction decision for violations in the securities field against Mr. Nguyen Van Hoi, Chairman of the Board of Directors and General Director of Hai Chau Confectionery JSC. Mr. Hoi was fined VND 77.5 million for violating the regulation that the Chairman of the Board of Directors must not concurrently hold the position of General Director.
On the same day, Mr. Hoi’s company, Hai Chau Confectionery, was also fined a total of VND 185 million by the SSC.
The company was fined VND 60 million for late disclosure of information. They delayed the publication of important documents, including financial statements for the quarters and years 2023-2025, semi-annual and annual corporate governance reports, annual reports, minutes of the 2023-2024 Annual General Meeting of Shareholders, explanations for audit qualifications, and credit limit contracts with BIDV Hanoi and MB Hai Ba Trung.
Additionally, Hai Chau Confectionery was fined VND 125 million for violations regarding transactions with shareholders and related parties. In 2023-2024, the company engaged in goods and services transactions totaling over VND 300 billion with three entities: Mía Đường I Corporation, Mía Đường Sơn Dương JSC, and Viger Beer, Alcohol, and Beverage JSC. However, these transactions were not approved by the Board of Directors as required, and all three companies are linked to Mr. Nguyen Van Hoi.
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Established in 1965, Hai Chau Confectionery is a well-known Vietnamese confectionery brand. They operate three large factories in Hung Yen, Nghe An, and Vinh Long, utilizing European and Japanese technology. Their signature products include sponge cakes, cookies, assorted dry cakes, and a range of hard and soft candies. |
The Manh
– 19:13 26/08/2025
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