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According to the State Securities Commission of Vietnam (SSC), the agency has issued Decision No. 460/QĐ-XPHC regarding administrative penalties in the securities and stock market sector against Dabaco Group Joint Stock Company (Dabaco, Stock Code: DBC; Head Office: 35 Ly Thai To Street, Vo Cuong Ward, Bac Ninh Province).
Dabaco was fined VND 60 million for failing to fully disclose information as required by law in its Corporate Governance Reports for the first half of 2023, the full year 2023, the first half of 2024, the full year 2024, and the first half of 2025. Specifically, the omissions relate to transactions with related parties, namely its subsidiaries. These transactions are detailed in the company’s audited and reviewed financial statements for the respective periods.
The company engaged in related-party transactions with its subsidiaries across seven categories: Asset usage cost allocation, allocated interest expenses, interest income from loans, capital contributions, profit distributions, asset transfers to subsidiaries, and long-term loans. However, Dabaco failed to disclose these seven categories in its Corporate Governance Reports for the specified periods.
In the 2023 Corporate Governance Report and the first half of 2024 Corporate Governance Report, the company omitted transactions involving advances to its subsidiary, Dabaco Vegetable Oil Co., Ltd., totaling VND 41 billion and VND 207 billion, respectively, under the related-party transaction section.
Additionally, Dabaco was fined VND 325 million for altering the use of proceeds from a public offering of securities without shareholder approval.
According to the penalty decision, DBC redirected VND 44,663,230,000 from the 2024 public offering proceeds to supplement the company’s working capital.
The total fine amounts to VND 385 million. Dabaco is also required to seek approval from the nearest shareholders’ meeting regarding the change in the use of proceeds from the public offering.
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