According to the penalty decision dated December 9, 2024 of the State Securities Commission (SSC), Kien Giang Construction Investment Consulting Group Joint Stock Company was fined VND 92.5 million for not disclosing information that must be disclosed according to the law.
According to the decision, the company did not disclose information on the following documents: Status of implementation of commitments of the issuing enterprise to bondholders in 2022, Status of use of proceeds from bond issuance audited in 2022 and 2023, Status of use of proceeds from bond issuance audited in the first half of 2023 and the first half of 2024.
The Company also failed to timely disclose information on the following documents: Audited separate and consolidated financial statements for the first half of 2023, Explanation of Profit after tax for the first 6 months of 2023 decreased by 20% compared to the same period in 2022 and Profit after tax for the first 6 months of 2023 decreased by 6% before and after audit, Audited consolidated financial statements for 2023.
Kien Giang Construction sent the following documents to the public on time: Status of payment of principal and interest of semi-annual bonds in 2023 and 2023, Report on the implementation of commitments of the issuing enterprise to bondholders in semi-annual bonds in 2023 and 2023.
The State Securities Commission also decided to punish Rang Dong Holding Corporation for many violations.
Accordingly, the company was fined VND92.5 million for failing to disclose information required to be disclosed according to law.
The company did not disclose information for the document: Audited semi-annual financial report for 2024. Disclosed information not on time as prescribed for the documents: Audited separate financial statements for 2023, Audited consolidated financial statements for 2023...
At the same time, Rang Dong Holding was fined: 150 million VND for the act of disclosing false information (Disclosing false information on the 2023 Profit after tax target on the self-prepared separate financial statements for the fourth quarter of 2023, the self-prepared consolidated financial statements for the fourth quarter of 2023).
Accordingly, the 2023 after-tax profit on the fourth quarter 2023 financial statements is 17.3 billion VND, but on the audited separate financial statements for 2023, the company lost 117.6 billion VND. The 2023 after-tax profit on the consolidated financial statements for the fourth quarter 2023 is 26 billion VND, but on the audited consolidated financial statements for 2023, the loss is 146.7 billion VND.
The company is required to cancel information or correct information for acts of publishing false information.
The total amount of money this business was fined was 242.5 million VND.
Previously, the State Securities Commission also imposed administrative sanctions on Dat Xanh Group Corporation (Code: DXG), Vinam Corporation, and Hoang Huy Financial Services Investment Corporation (Code: TCH) for violations in the field of securities and the securities market.
