Vietnam’s State Securities Commission (SSC) recently issued Decision No. 232/QD-XPHC, imposing an administrative fine on Tung Khanh Production and Trading Joint Stock Company (coded TKG), headquartered at 131 Quan Tru Street, Kien An Ward, Hai Phong City.
Specifically, Tung Khanh was fined VND 92.5 million according to the provisions of point a, clause 4, Article 42 of Decree No. 156/2020/ND-CP dated December 31, 2020, of the Government on sanctioning of administrative violations in the field of securities and the stock market for failing to disclose information that must be disclosed in accordance with legal regulations.
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In detail, Tung Khanh failed to disclose the following documents on the disclosure system of the SSC and the Hanoi Stock Exchange (HNX): Q4 2023 financial statement; audited financial statements for 2023 and 2024; Q1, Q2, and Q3 2024 financial statements; semi-annual financial statement for 2024 reviewed; 2023 and 2024 annual reports; corporate governance report for the first six months of 2024 and 2025.
In late 2024, HNX issued Decision No. 1243/QD-SGDHN on mandatory delisting of over 6.3 million TKG shares of Tung Khanh.
The reason for the delisting was that Tung Khanh seriously violated the obligation to disclose information and failed to fulfill its financial obligations to the Stock Exchange, falling under the case of mandatory delisting as prescribed.
Established in 2000, Tung Khanh operates in the fields of trading stainless steel, fabric, chemicals, and plastic granules, while also manufacturing household products and interior and exterior decorative items.
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