The State Securities Commission of Vietnam has issued administrative fines to three companies for violations of securities regulations. Au Lac Joint Stock Company has been fined VND 350 million for failing to register their transactions and list their securities. The company, which became a public company on August 6, 2007, has not yet registered its transactions or listed its shares on a stock exchange.
Au Lac is a well-known enterprise in the field of petroleum transportation in Ho Chi Minh City and has also been involved in significant transactions of Eximbank and ACB bank shares.
The State Securities Commission has also fined Vietnam Financial Investment Securities Joint Stock Company (VIG) VND 275 million for providing securities services without prior report or approval from the state management agency. VIG collaborated with individuals to provide services to customers borrowing money to trade securities without the Commission’s approval. Additionally, the company provided advance payment services while being in the warning stage, without reporting or obtaining written guidance from the management agency.
In addition to the fine, VIG has also been suspended from providing advance payment services.
As a consequence, VIG has been fined and temporarily suspended from providing advance payment services for securities sale for a period of two months.
VIG, formerly known as Vietnam Commercial and Industrial Securities Joint Stock Company, has a charter capital of VND 150 billion. The company was listed on HNX from 2009 to 2010. In the 2021-2022 period, the Thang Long Investment Group successfully restructured and renamed the company, increasing its capital to VND 451.3 billion.
CIC39 Joint Stock Company (code C32) has been fined VND 150 million for disclosing inaccurate information in its separate and consolidated financial statements for the fourth quarter of 2023. According to the separate financial statement for the fourth quarter of 2023, the company’s profit after tax for 2023 was over VND 5.2 billion. However, according to the audited separate financial statement for 2023, the company incurred a loss of over VND 18.75 billion.
CIC39, established in 1993, transformed into a joint-stock company in 2007. Its main business activities include trading in raw materials and finished products, construction, real estate business, service provision, and trading in construction-related fields.
The most extensive bribery case ever in Thanh Hoa: Numerous suspects prosecuted for “Giving and Receiving Bribes”
The Provincial Security Investigation Agency (PSIA) of Thanh Hoa province announced on January 31st that it has made the decision to initiate a prosecution against 23 individuals in connection with the offenses of “Accepting bribes” and “Giving bribes” as stipulated in Article 354(3) and Article 364(2) of the Criminal Code.
Accelerating disbursement of the 120 trillion VND credit package for social housing
Deputy Prime Minister Trần Hồng Hà has recently issued directives regarding the implementation of the 120,000 billion VND credit package for investors and buyers of social housing, workers’ housing, and projects for the renovation and construction of apartment buildings.
“Prosecution of government officials, land registration officers, and tax department employees in the largest bribery case ever”
The Thanh Hoa Police Investigative Agency has initiated legal proceedings against 23 individuals involved in the crimes of “Bribery” and “Receiving bribes”. This is the largest bribery case in terms of the number of suspects ever discovered and apprehended by the Thanh Hoa Police.
Mobile World achieves revenue of VND118,000 trillion: TVs, tablets, and phones all decrease by 10% – 50%, while one product grows in both quantity and revenue.
Mobile World Investment Corporation (MWG) has recently announced its 2023 business results. According to the report, the company’s consolidated revenue reached over 118 trillion Vietnamese dong, equivalent to 89% of the revenue in 2022.
Vietnam’s Irresistible ‘Specialty’ That China Desperately Wants to Revive: Highly Popular from the US to Asia, Bringing in Millions of Dollars
Vietnam is one of the largest exporting countries in the world, along with China and the Philippines.
