On September 30, 2025, the State Securities Commission (SSC) issued Decision No. 298/QD-XPHC on administrative sanctions in the field of securities and the stock market against IDICO Corporation - JSC (head office address: No. 151A Nguyen Dinh Chieu, Xuan Hoa Ward, Ho Chi Minh City).
According to the decision, IDICO was fined VND92.5 million for not disclosing information according to the law. Pursuant to Point a, Clause 4, Article 42 of Decree 156/2020/ND-CP, the enterprise did not disclose information to the Hanoi Stock Exchange (HNX) on the website for information on corporate bonds for the Report on the situation of using the proceeds from issuing outstanding bonds in 2022 and the first 6 months of 2025 that have been audited.
In addition, the company published information on time on the information disclosure system of the State Securities Commission and on the HNX's electronic information page for the following documents: Resolution No. 48/NQ-TCT dated October 31, 2023 on approving the office lease contract between IDICO and S.S.G Group Joint Stock Company; Resolution No. 49/NQ-TCT dated October 31, 2023 on approving the establishment plan, agreement on capital contribution to establish IDICO Vinh Quang Joint Stock Company, draft charter, personnel to send capital representatives and introduce to participate in management and operation. IDICO also did not announce to HNX on time the audited Report on the situation of using the proceeds from issuing outstanding bonds in the first 6 months of 2023.
In addition, the State Securities Commission fined IDICO VND 60 million for the act of disclosing information with incomplete content as prescribed, based on Point b, Clause 3, Article 42 of Decree 156/2020/ND-CP. Specifically, the enterprise did not fully present some transactions with related parties in Appendix 02 of the Corporate Governance Report for 2023, 2024 and the first 6 months of 2025. The company management report for the first 6 months of 2025 also lacks information about Decision No. 11/QD-TCT dated June 30, 2025 of the Board of Directors regarding the change of legal representative of IDICO Urban and Industrial Park Development Company Limited.
The total fine for IDICO is 152.5 million VND. The decision takes effect from the date of signing.
