According to the State Securities Commission (SSC), the agency has issued Decision No. 277/QĐ – XPHC regarding administrative penalties for violations in the securities and stock market sector against Construction Company No. 42 (Headquarters Address: 104 Xuyên Á Road, Bình Đường 1 Ward, Dĩ An District, Ho Chi Minh City).
Specifically, Construction Company No. 42 was fined 92.5 million VND for failing to disclose information as required by law, as stipulated in Clause 4, Article 42 of Decree No. 156/2020/NĐ-CP dated December 31, 2020, which governs administrative penalties for violations in the securities and stock market sector.
The company failed to disclose the following documents on the SSC’s disclosure system: Audited Financial Reports for 2022, 2023, and 2024; Resolutions and Minutes of the Annual General Meeting of Shareholders for 2023, 2024, and 2025; Annual Reports for 2022, 2023, and 2024; and Corporate Governance Reports for 2022, the first half of 2023, 2023, the first half of 2024, 2024, and the first half of 2025.
Established in 2003, Construction Company No. 42 primarily operates in the field of civil engineering construction and has not yet listed its shares on the stock exchange.
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In addition to Construction Company No. 42, the SSC also issued Decision No. 269/QĐ-XPHC regarding administrative penalties against Duc Thanh Wood Processing Joint Stock Company (Stock Code: GTD, listed on HoSE).
Duc Thanh Wood Processing was fined 65 million VND for failing to disclose information within the legally mandated timeframe. Specifically, the company did not disclose the following documents on the Ho Chi Minh City Stock Exchange’s (HoSE) electronic information page: Consolidated Financial Statements for Q4/2023; Official Letter No. 37-24/CBTT-ĐT dated March 27, 2024, announcing changes to the company’s model and type of financial statements; and Resolution No. 01-25/NQ – ĐT dated January 16, 2025, regarding the issuance of shares under the employee stock option program.
Additionally, the company was fined 137.5 million VND for violating regulations on transactions with shareholders, company managers, and related parties.
According to the audited Consolidated Financial Statements for 2023 and 2024, the Corporate Governance Reports for 2023 and 2024, and loan agreements, the company provided loans to shareholders who are also insiders and related parties during 2023 and 2024.
For the aforementioned violations, Duc Thanh Wood Processing was fined a total of 202.5 million VND by the SSC.
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