Closing the financial reporting season for the third quarter of this year, many businesses have had to request extensions for various reasons. Among them, Rang Dong Holding revealed that it was because 'many accountants quit their jobs'.
Rang Dong Holding Joint Stock Company is a company chaired by businessman Ho Duc Lam - Photo: RDP
Rang Dong Holding explains late submission of financial report
Rang Dong Holding Joint Stock Company (RDP) has just sent a document to the State Securities Commission explaining the reason for the delay in submitting the financial report for the third quarter of 2024.
Accordingly, RDP leaders said that the company is currently facing difficulties with human resources, especially "many accounting staff have quit their jobs". Therefore, the company cannot submit its third quarter financial report on time.
Previously, RDP also received a decision from the Ho Chi Minh City Stock Exchange (HoSE) to transfer the company's shares to restricted trading status from October 24. The reason is that RDP delayed the publication of its audited financial statements for the 2024 semi-annual period by more than 45 days compared to the regulations.
Thus, RDP shares are only traded in the afternoon session of the trading day by centralized order matching method and negotiated trading method.
Rang Dong Holding is known as a company chaired by Mr. Ho Duc Lam. In the second quarter of this year, RDP reported a loss after tax of 65 billion VND, while in the same period it still made a profit of more than 10 billion VND. In the first half of 2024, RDP reported a loss of 64.5 billion VND compared to a profit of more than 11 billion VND in the same period last year.
In addition to RDP, another enterprise that has not yet submitted its financial report for the third quarter is Loc Troi Group Joint Stock Company (LTG).
According to Loc Troi's leadership, the company encountered a force majeure event that resulted in it not being able to publish its financial report on time.
Specifically, when a business encounters problems affecting its capital flow for production and business operations, the entire company must focus on handling immediate financial problems.
In July this year, LTG also had to postpone the announcement of its second quarter financial report due to force majeure, and committed to announcing the information as soon as the situation was resolved.
Many businesses are fined for not publishing financial reports.
Recently, many enterprises that did not publish financial reports were also punished by specialized state management agencies.
Recently, the State Securities Commission issued a decision to impose administrative sanctions on Lam Son Construction and Trading Joint Stock Company.
Accordingly, this enterprise was fined VND85 million for not disclosing information on many documents, including financial reports for 2020, 2021 and 2022.
Another enterprise, Phuc Dong Housing Development Joint Stock Company, also had to pay a fine for failing to publish many reports, including the 2021 semi-annual financial report, the 2022 semi-annual financial report, and the 2021 and 2022 financial reports...
When is the deadline for submitting the third quarter financial report?
Current regulations require listed enterprises to publish quarterly financial reports no later than 20 days from the end of the quarterly accounting period; for parent companies and state-owned corporations, no later than 45 days.
Thus, the deadline for submitting the financial report for the third quarter of 2024 is October 20, 2024. For parent companies and state-owned corporations, the latest is November 14.
Source: https://tuoitre.vn/du-kieu-cham-bao-cao-tai-chinh-rang-dong-holding-noi-do-ke-toan-nghi-viec-nhieu-20241113141233193.htm
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