Accordingly, the State Securities Commission (SSC) has fined Phat Dat Real Estate Development Joint Stock Company (Phat Dat) VND 187.5 million because the company uses more than VND 1,394 billion of the total amount of VND 2,045 billion earned from the offering of individual bonds for the purpose of returning borrowed money for Saigon - KL Real Estate Joint Stock Company, nearly VND 1,357 billion and more than VND 12 billion in Binh Duong. The purpose is more than 25 billion. This is not in accordance with the plan approved by the Board of Directors or content published information for investors.
Phat Dat was also fined by the State Securities Commission for not publishing periodic information on the Hanoi Stock Exchange's corporate bond information page system (HNX) with the following documents: Report on the use of the proceeds from the issuance of audited bonds in 2022, semi-annual bonds in 2023 and 2023.
The company also does not publish abnormal information on the information disclosure system of the SSC and the Ho Chi Minh City Stock Exchange (HOSE), the website of the Company's documents such as the Resolution of the Board of Directors (BOD) on 4.1.2021 approving, through contracts/transactions between the company and related parties in 2021; Resolution of the Board of Directors on January 3, 2023 approved, through contracts/transactions between the company and the parties involved in 2023; The Resolution of the Board of Directors dated March 30, 2023 approving transactions with the relevant party.
In addition, Phat Dat also violated the information announcement on time as prescribed on the system of the SSC and HOSE, the website of the company the following documents: Audited private financial statements were audited; The consolidated financial statements in 2024 were audited. With the above violation, Phat Dat was fined 92.5 million VND by the State SSC.
In addition to the above violations, PDR was also fined VND65 million for disclosing incomplete information about transactions between the company and related parties of insiders in the Company Governance Report for 2023 and 2024.
Was fined VND 150 million for publishing false information about the profit after tax of corporate income in 2024 in the Joint Stock and Certified Financial Statements for the fourth quarter of 2024 compared to the target in the Audited Joint Stock and Certified Financial Statements in 2024.
Accordingly, after-tax profit in the Report on Finance for the fourth quarter of 2024 was more than VND515 billion and nearly VND523 billion. However, the after-tax profit in the audited separate and consolidated financial statements in 2024 is nearly 150 billion VND and more than 155 billion VND.
