Two Companies Fined for Violations in Securities and Stock Market

Indochina Import-Export Industry Investment Joint Stock Company and Nam Long Investment Joint Stock Company have been fined for administrative violations in the field of securities and stock market.

Indochina Import-Export Industry Investment Joint Stock Company Fined Nearly 685 Million VND

Indochina Import-Export Industry Investment Joint Stock Company, headquartered in District 3 (Ho Chi Minh City), has been fined by the State Securities Commission (SSC) for 6 violations related to administrative violations in the field of securities and stock market. The total fine is nearly 685 million VND.

Violations of Information Disclosure

Indochina Company’s violations include failure to disclose information required to be disclosed, reports on bond transactions (premature redemption), and not explaining the difference in financial statements from year to year. Additionally, the company failed to report the use of bond capital and reported false information about the completion date of the bond issuance.

Nam Long Investment Joint Stock Company Fined 505 Million VND

Nam Long Investment Joint Stock Company (NLG) was fined 505 million VND for various violations. The main violations include not issuing regulations on information disclosure as prescribed, not disclosing information according to the law on financial reports over the years 2020-2023, and not explaining financial statement differences. The company also failed to disclose information related to cooperation with partners, report the use of bond capital, and report the actual use of capital to implement the project. Furthermore, the company violated regulations on transactions with shareholders, business managers, and related persons.

Impact on NLG Shares

Closing the September 26 session, NLG shares were down slightly by 3,500 VND, at 40,500 VND/share.

Source: nld.com.vn