The Inspectorate of the State Securities Commission (SSC) has just issued two decisions to administratively sanction Ngoc Thien Global Group Joint Stock Company and Saigon Plastic Joint Stock Company for a series of violations in information disclosure and corporate governance.
On December 2, 2025, the State Securities Commission issued Decision No. 479/QD-XPHC to fine Ngoc Thien Global Group Joint Stock Company, headquartered in Dong Mai village, Chi Dao commune, Van Lam district, Hung Yen. The enterprise was fined VND 92.5 million for not disclosing information for many mandatory reports as prescribed in Point a, Clause 4, Article 42 of Decree 156/2020/ND-CP.
The company has not sent information to the Hanoi Stock Exchange for the following documents: semi-annual financial report 2021, semi-annual report 2022, semi-annual report 2022, semi-annual report 2023, semi-annual report 2024, semi-annual report 2024, semi-annual report 2025; report on the situation of using capital from issuing semi-annual bonds 2021, 2021, 2021, semi-annual report 2022; report on the situation of using the proceeds from issuing bonds audited in 2022, semi-annual 2023, 2023, semi-annual 2024, semi-annual 2025; interest payment situation, semi-annual bond principal 2021, 2021, semi-annual 2022, 2022, semi-annual 2023, semi-annual 2024, semi-annual 2025; report on the implementation of commitments of the issuing enterprises for bondholders in 2022, 2023, 2023, 2023, 2024, semi-annual 2024, semi-annual 2025.
On the same day, the State Securities Commission issued Decision No. 473/QD-XPHC to fine Saigon Plastic Joint Stock Company, headquartered at 242 Tran Phu, An Dong Ward, Ho Chi Minh City. The total fine for the Company is 125 million VND.
In which, the fine of VND 92.5 million is applied according to Point a, Clause 4, Article 42 of Decree 156/2020/ND-CP because the Company did not disclose information on the system of the Hanoi Stock Exchange for: Audited financial statements in 2024 in English; explained that auditing opinions must not be fully accepted in English; explained after-tax profits in the 2024 audited financial statements with losses in English.
The company also published untimely information on the system of the State Securities Commission and the Hanoi Stock Exchange for: annual General Meeting Resolution 2020; audited financial reports for 2022, 2023, 2024; annual reports for 2022, 2023; company management reports for 2023, 2024; explanations for auditing opinions in audited financial reports for 2024; changing the 10th Certificate of Business Registration on August 27, 2025; announcement of appointment of chief accountant on July 30, 2025.
Saigon Plastic Company was fined an additional VND 17.5 million under Point a, Clause 1, Article 15 of Decree 156/2020/ND-CP (amended by Decree 128/2021/ND-CP) for not developing and submitting to the General Meeting of Shareholders to approve internal regulations on company governance, operating regulations of the Board of Directors and the Supervisory Board. At the same time, the company was fined VND15 million under Point b, Clause 1, Article 15 of Decree 156/2020/ND-CP (amended by Decree 128/2021/ND-CP) for not appointing a person in charge of corporate governance.
