Securities companies simultaneously cut margin on APEC stocks

The most expensive stock is 'clinically dead' on the stock exchange, what does the business owner say? With surplus sales on the floor but no transactions, XDC stock continues to hold the top position in terms of price on the stock exchange.

SSI Securities Corporation has just removed two "APEC family" stocks, API of Asia-Pacific Investment Corporation and IDJ of IDJ Vietnam Investment Corporation, from its margin portfolio from tomorrow, June 29.

Vietnam Investment and Development Bank Securities Joint Stock Company (BSC) has also just announced that IDJ stock code of IDJ Vietnam Investment Joint Stock Company is removed from the list of securities allowed at BSC. The date of removal from the list of collateral is June 28, and the date of removal from the loan list is June 27.

Previously, some other securities companies announced margin cuts for IDJ shares such as Yuanta Vietnam Securities (YSVN), Saigon - Hanoi Securities (SHS) and Tri Viet Securities (TVB).

Phu Hung Securities (PHS) removed 2 codes API and IDJ from the list of margin securities from June 26.

Many securities companies cut margin on "APEC family" stocks

Meanwhile, APEC Securities (APS) is on the list of stocks ineligible for margin trading on the Hanoi Stock Exchange (HNX), because the 2022 after-tax profit in the audited financial report is negative.

Securities companies cut margins on stocks in the “APEC family” after news of the prosecution of a stock manipulation case in this group on June 23. The State Securities Commission said it had received a notice from the Investigation Security Agency - Hanoi City Police about the decision to prosecute a criminal case of stock market manipulation occurring at APS, API, IDJ.

On June 28, Hanoi City Police issued a decision to prosecute and temporarily detain five suspects for stock market manipulation, including Mr. Nguyen Do Lang, General Director of Asia Pacific Securities Corporation (APS) and Pham Duy Hung, Chairman of APS.

These are the people involved in the criminal case that occurred at 3 companies: Asia Pacific Securities JSC (APS), Asia Pacific Investment JSC (API) and IDJ Vietnam Investment JSC (IDJ), commonly known as the “APEC family”, related to the APEC Group ecosystem.

All three enterprises API, APS and IDJ are listed on the stock exchange and are part of the APEC Group ecosystem of businessman Nguyen Do Lang.

APEC Group is known as a multi-industry corporation owning a series of real estate projects worth thousands of billions of VND, along with securities, interior, environmental companies...

At APS Securities, Mr. Nguyen Do Lang holds 14.3% of shares, while APEC Group holds 4.6%. At Asia Pacific Investment (API), Mr. Nguyen Do Lang holds 16.34% of shares, APS Securities holds 13.1%.

At IDJ, APEC Group holds 9.9%, APS Securities holds 9.47%, APEC Holding holds 2.83%; Asia Pacific Energy holds 1.43% and Mr. Nguyen Do Lang holds 1.3%. APS Chairman Pham Duy Hung holds 0.92% of IDJ shares.

Ms. Huynh Thi Mai Dung (1975), wife of Mr. Nguyen Do Lang, was also prosecuted with her husband. Ms. Dung owns 2.02% of APS shares, more than 8% of API shares...

Mr. Nguyen Do Lang, CEO of APEC, was prosecuted: Great power, many 'huge' real estate projects. Mr. Nguyen Do Lang, who was just prosecuted for stock market manipulation, is a link in the large APEC Group ecosystem.

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