DHA-HOSE Corporation (code DHA-HOSE) has announced administrative penalties for 3 violations in the field of land and real estate by the People’s Committee of Dong Nai province.
Specifically, DHA has occupied 21,376.4 square meters of agricultural land which is not for rice cultivation, special-use forests, protection forests, or production forests in urban areas; occupied 14,965.5 square meters of agricultural land which is for rice cultivation, and production forests in urban areas; occupied 4,706.1 square meters of non-agricultural land in urban areas. All the occupied land is located in Tam Phuoc Ward and Phuoc Tan Ward, Bien Hoa City.
After considering the mitigating circumstances of voluntarily remedying the consequences and sincerely admitting the wrongdoing in relation to the 3 aforementioned acts, DHA is fined 200 million VND, 240 million VND, and 160 million VND, respectively, totaling 600 million VND.
In addition, DHA is required to take remedial measures by continuing to follow the land leasing procedures for all the land in question. At the same time, DHA must return illegally obtained benefits, amounting to nearly 1.9 billion VND, nearly 1.2 billion VND, and nearly 400 million VND for the 3 violations, totaling nearly 3.5 billion VND.
DHA has 60 days to implement the remedial measures, starting from the date of receiving the decision on February 23.
Regarding the business results of 2023, DHA recorded fourth-quarter revenue of over 109.8 billion VND, a decrease of 6.17 billion VND (from 115.992 billion VND); after-tax profit increased by 6.17 billion VND (to 11.93 billion VND).
DHA stated that the decrease in revenue is due to a decrease in the amount sold, while the increase in profit is due to the fact that in the same period of the previous year, the company set aside provisions for financial investments.
In the accumulated results for 2023, DHA recorded net revenue of 375 billion VND, a 3% decrease compared to the previous year, while net profit increased by 83% to 96 billion VND, exceeding the planned profit target for 2023 by 33%.
