Customer lost 26.5 billion at VCB and TCB: TCB is not at fault, customer burst into tears

On July 2, the People's Court of Bac Ninh province announced the appeal verdict in the lawsuit between customer Tran Thi Chuc and Vietnam Technological and Commercial Joint Stock Bank (Techcombank).

The court rejected Ms. Chuc's appeal, accepted Techcombank's appeal and the Procuracy's protest, and declared that Techcombank did not have to compensate any of the 14.6 billion VND that customers lost because the bank was "not at fault". (See details)

Too many winners, Ha Tinh Lottery suffers heavy losses, under supervision

Due to signs of financial insecurity, Ha Tinh Lottery One Member Co., Ltd. was placed under special financial supervision.

The reason for the loss, according to the company director, is because many customers won prizes. The total accumulated loss by the end of 2023 of Ha Tinh Lottery is greater than 50% of the owner's investment capital. (See details)

The path that 'blown' Trinh Van Quyet to become the richest billionaire in the country before 'falling off the horse'

The Hanoi People's Court has just announced the trial plan for former FLC Group Chairman Trinh Van Quyet and 49 others in the case of inflating the charter capital of FLC Faros Construction JSC (ROS) from the initial figure of VND1.5 billion to VND4,300 billion. The trial is scheduled to open on the morning of July 22 and last for several days.

The capital increase of nearly 4,300 billion VND and the increase in ROS stock price helped Trinh Van Quyet become the richest billionaire on the stock market at one time, his wife also entered the top 10. Immediately after that, the one-time real estate tycoon went downhill and got into trouble with the law. (See details)

Surprisingly, the person who teaches the secret to making millions of dollars, owning an island... is the owner of a loss-making business.

Mr. Nguyen Thanh Tien introduces himself as the number 1 paid real estate expert in Vietnam, teaching the secret to making millions of dollars, owning islands, getting rich from real estate... but is currently running a loss-making business.

According to the recently released financial report, Van Lang Technology Investment and Development Joint Stock Company (VLA), chaired by Mr. Tien, recorded poor business results in the first quarter of 2024, contrary to what the company's leaders advertised on social networks. (See details)

Lacking money, Mr. Duc's business asks for bond debt deferral

Hoang Anh Gia Lai Joint Stock Company (code HAG) of Mr. Doan Nguyen Duc (Bau Duc) has just announced a delay in paying bond interest of nearly 140 billion VND and must postpone the payment time to the third quarter.

The company chaired by Mr. Duc explained that the reason for the delay in payment was because it had not yet collected enough money from the debt of Hoang Anh Gia Lai International Agriculture JSC and had not yet liquidated some of the company's unprofitable assets. (See details)

Ms. Tran Thi Thu Hang resigns, KienlongBank has a new chairwoman

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Ms. Tran Thi Thu Hang: Photo: KLB.

Kienlong Commercial Joint Stock Bank (KienlongBank) has just announced that Ms. Tran Thi Thu Hang will resign from the position of Chairwoman of the Board of Directors (BOD) from July 9 according to her personal wishes.

Mr. Tran Ngoc Minh, Vice Chairman of the Board of Directors and General Director, was elected as Chairman of the Board of Directors. Mr. Tran Hong Minh, Deputy General Director, held the position of Acting General Director. (See details)

Auditors flee, 'bad forces sabotage': What happens to Ms. Hoang Yen's company?

On July 3, the Ho Chi Minh City Stock Exchange (HOSE) announced that it would put shares of Tan Tao Investment and Industry Corporation - Itaco (ITA), chaired by Ms. Maya Dangelas (Vietnamese name: Dang Thi Hoang Yen), under trading restrictions because it has not yet disclosed its audited financial statements (FS) for 2023.

According to the explanation of Itaco's leaders, the reason why the company does not have audited financial statements for 2023 is because no company dares to audit for ITA for fear that the auditors will be suspended from their jobs. (See details)

Deloitte auditor suspended in connection with SCB Bank case

The State Securities Commission suspended the auditor status of four people from Deloitte Vietnam Auditing after the case occurred at SCB Bank.

Accordingly, four auditors including Pham Hoai Nam, Le Dinh Tu, Do Hong Duong, and Tran Van Dang were suspended from June 25 until the end of 2024. (See details)

The Government issued a decree on the mechanism for direct electricity purchase and sale.

The Government has just issued Decree No. 80/2024/ND-CP dated July 3, 2024, regulating the mechanism for direct electricity purchase and sale between renewable energy generators and large electricity users.

Regarding the form of direct electricity trading through the national grid, the Decree also clearly stipulates the sale of electricity by renewable energy power generation units through the spot electricity market and the purchase and sale of electricity with the Electricity Corporation. (See details)

Why don't Intel and LG choose Vietnam to continue investing in billion-dollar projects?

In the draft decree on the establishment, management and use of the Investment Support Fund, the Ministry of Planning and Investment stated that in the past, many large corporations came to survey and research investment in Vietnam, but eventually moved to other countries.

The expansion of some high-tech projects also shows signs of being suspended, some enterprises have officially announced that they are suspending new investment and expansion plans in Vietnam (LG, Intel). (See details)

Every day, about 2 million transactions out of 10 million require biometric verification.

At the regular Government press conference on the afternoon of July 6, Deputy Governor of the State Bank Pham Tien Dung said that the decision on implementing safety and security solutions in online payments and bank card payments was issued with the aim of helping to clean up accounts.

The Deputy Governor calculated that in June, the number of transactions over 10 million/time accounted for about 8% of the total number of transactions, with an average of 1.8-2 million transactions per day requiring biometric verification. (See details)

Tightening lending to large customers, shareholder identity in the Law on Credit Institutions 2024

Law on Credit Institutions No. 32/2024/QH15 takes effect from July 1, 2024.

The law has 4 important changes, including tightening lending to large customers, disclosing information about shareholders owning more than 1% of charter capital... (See details)