Sonadezi Chau Duc fined a total of VND507.5 million
On October 10, 2025, the Inspectorate of the State Securities Commission issued Decision No. 315/QD-XPHC to administratively sanction Sonadezi Chau Duc Joint Stock Company (head office address: 9th Floor, Sonadezi snail, No. 1, Road 1, Bien Hoa 1 Industrial Park, Tran Bien Ward, Dong Nai Province).
The company was fined VND 92.5 million under Point a, Clause 4, Article 42 of Decree 156/2020/ND-CP for not disclosing information that must be disclosed according to the law.
The company did not publish information on the website of information on individual corporate bonds at the Hanoi Stock Exchange for reports on the use of money raised from the issuance of audited bonds in 2022, 2024; published information not on time on the website of the Ho Chi Minh City Stock Exchange and the company for the capital use progress report; as well as reports on the implementation of commitments with bondholders and the use of money raised from the issuance of semi-annual bonds in 2023.
The company was fined an additional VND65 million under Point b, Clause 3, Article 42 of Decree 156/2020/ND-CP for disclosing information with incomplete content. Accordingly, the report on the company's governance situation in 2023, 2024 and the first 6 months of 2023, 2024, 2025 did not clearly state the quantity and total transaction value between the company and related parties, major shareholders and insiders.
The reports are also not consistent with actual data on the number of resolutions and decisions issued by the Board of Directors at each stage. The company published incomplete information on meeting documents (votes) at 3 annual general meetings of shareholders in 2023, 2024 and 2025.
Notably, Sonadezi Chau Duc was also fined VND 350 million under Point b, Clause 4, Article 10 of Decree 156/2020/ND-CP (amended and supplemented at Point a, Clause 9, Article 1 of Decree 128/2021/ND-CP) for changing the capital use plan from the 2024 stock offering but not through the General Meeting of Shareholders.
The company has used more than 67.4 billion VND out of a total of 1,199.7 billion VND mobilized to pay for the Chau Duc Urban Area project, Chau Duc Golf Course, the BOT project loan of Road 768 and contribute capital to its subsidiary. The remedial measure is to force the recent General Meeting of Shareholders to approve the content of this change.
Nam Song Hau Oil and Gas does not disclose bond information and financial reports
On October 9, 2025, the State Securities Commission issued Decision No. 313/QD-XPHC to fine Nam Song Hau Petroleum Investment Trading Joint Stock Company (address: Phu Thanh Hamlet, Mai Dam Town, Chau Thanh District, Hau Giang Province - now Phu Thanh Hamlet, Chau Thanh Commune, Can Tho City) VND 92.5 million according to Point a, Clause 4, Article 42 of Decree 156/2020/ND-CP.
The company did not disclose mandatory information including: financial statements that have been reviewed for the 2024 and 2025 semi-annuals, audited financial statements for 2024, reports on the use of proceeds from issuing outstanding bonds audited in 2024 and the 2025 semi-year, interest payment and principal of bonds in 2024 and the 2025 semi-year, and reports on the implementation of commitments to bondholders in 2024 and the 2025 semi-year.
In addition, the company announced slow information to the notice of the People's Court of Hau Giang province on accepting the application for opening bankruptcy proceedings and the decision of the People's Court of Can Tho City on not opening bankruptcy proceedings.
Tien Phong Securities violates its obligation to disclose information and report
On October 8, 2025, the Inspectorate of the State Securities Commission issued Decision No. 311/QD-XPHC to fine Tien Phong Securities Joint Stock Company (address: 7th Floor, Doji Building, No. 81-83-85 Ham Nghi, Saigon Ward, Ho Chi Minh City).
The company was fined VND 92.5 million under Point a, Clause 4, Article 42 of Decree 156/2020/ND-CP for not disclosing information on the use of the proceeds from the issuance of audited bonds in 2022; not publicly announcing the results of the offering of bonds with code ORSH2328001 and reporting the financial situation in 2024.
The company was fined an additional VND 92.5 million under Clause 3, Article 43 of Decree 156/2020/ND-CP (amended and supplemented at Point a, Clause 34, Article 1 of Decree 128/2021/ND-CP) for not reporting compulsory information as prescribed.
The company did not report the termination of labor contracts with people with securities practice certificates, and did not report on time for the 2023 Annual Report, the audited Financial Statements 2024 and the Financial Safety Ration Report on December 31, 2024 that had been audited.
