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According to the State Securities Commission (SSC), the agency has issued Decision No. 298/QĐ – XPHC regarding administrative penalties in the securities and stock market sector against Idico Corporation – JSC (Stock Code: IDC; Head Office Address: 151A Nguyen Dinh Chieu Street, Xuan Hoa Ward, Ho Chi Minh City).
Specifically, Idico was fined 92.5 million VND for failing to disclose information as required by law, as stipulated in Point a, Clause 4, Article 42 of Decree No. 156/2020/NĐ – CP dated December 31, 2020, issued by the Government, which regulates administrative penalties in the securities and stock market sector.
In detail, the Corporation failed to disclose information (DSI) to the Hanoi Stock Exchange (HNX) on the Corporate Bond Information Portal regarding the audited Report on the Use of Proceeds from Bond Issuance for bonds with outstanding debt in 2022 and the first half of 2025.
Idico also failed to disclose information within the required timeframe on the SSC’s DSI system and HNX’s electronic information page for the following documents: Resolution No. 48/NQ – TCT dated October 31, 2023, approving the lease agreement between Idico and the related party S.S.G Group Joint Stock Company, and Resolution No. 49/NQ – TCT dated October 31, 2023, approving the establishment plan, capital contribution agreement minutes, draft charter, and appointed capital representative for Idico Vinh Quang Joint Stock Company.
The company also failed to disclose information within the required timeframe to HNX on the Corporate Bond Information Portal regarding the audited Report on the Use of Proceeds from Bond Issuance for bonds with outstanding debt in the first half of 2023.
Additionally, Idico was fined 60 million VND for failing to fully disclose certain related-party transactions in Appendix 02 of the Corporate Governance Report (CGR) for 2023, 2024, and the first half of 2025. The Corporation omitted Resolution No. 11/QĐ – TCT dated June 30, 2025, issued by the Board of Directors, regarding the change of legal representative for Idico Urban and Industrial Zone Development One-Member Limited Liability Company, under Section II.5 of the CGR for the first half of 2025.
Idico, originally established as the Vietnam Urban and Industrial Zone Development Corporation in 2000, focuses on core industries such as industrial zone development and investment expansion in urban areas, economic zones, residential complexes, transportation, irrigation, hydropower, industrial production, and housing development.
On May 10, 2018, Idico officially transitioned to a joint stock company model.
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