General Director and Deputy General Director were arrested, what did Southern Rubber say?

05/31/2024 09:19 Nhat Linh Print article

ANTD.VN - Southern Rubber Industry Joint Stock Company (Casumina, stock code: CSM) has just sent a document to the Ho Chi Minh City Stock Exchange (HOSE) announcing the prosecution of its leaders.

According to the document, on the afternoon of May 29, Southern Rubber received the Decision of the Supreme People's Procuracy on prosecuting Mr. Pham Hong Phu - General Director and Mr. Nguyen Minh Thien - Deputy General Director and person who published information of the company for the crime of violating regulations on management and use of State assets causing loss and waste.

The company said it will always be ready to coordinate with relevant parties to support investigation issues, and will take measures according to regulations to protect the legitimate rights of the company, customers, relevant partners and shareholders.

At the same time, the Company also affirmed that it will continue to focus on implementing production and business activities, striving to achieve the highest targets for 2024 approved by the General Meeting of Shareholders.

The leaders of Southern Rubber Industry Corporation have just been prosecuted.

Previously, on May 29, the Ministry of Public Security's Investigation Police Agency initiated a criminal case of Violations of regulations on management and use of State assets causing loss and waste, occurring at the Southern Rubber Industry Joint Stock Company and related units. At the same time, it issued Decisions to prosecute the accused, Arrest warrants for temporary detention, and Search warrants for: Mr. Pham Hong Phu, General Director of the Southern Rubber Industry Joint Stock Company; Mr. Bui The Chuyen, former Chairman of the Board of Directors of the Southern Rubber Industry Joint Stock Company; Nguyen Minh Thien, Deputy General Director of the Southern Rubber Industry Joint Stock Company.

The Ministry of Public Security's Investigation Police Agency is continuing to expand the investigation of the case, applying measures according to law to thoroughly recover assets for the State.

Regarding the business results of Southern Rubber, in 2023, the company's revenue reached VND 5,235 billion (down 2% compared to the previous year), after-tax profit reached more than VND 60 billion (down nearly 25%).

In 2024, this enterprise plans to have revenue of more than VND 5,204 billion and pre-tax profit of VND 80 billion. At the end of the first quarter of 2024, the Company recorded revenue of VND 1,147 billion and pre-tax profit of more than VND 23 billion.

Currently, Southern Rubber has two major shareholders: Vietnam Chemical Group, owning 52.8 million shares (accounting for 51% of charter capital) and Saigon VRG Investment Joint Stock Company holding 9.2 million shares (accounting for 8.97%).

On the stock market, CSM shares increased to the ceiling for two consecutive sessions on May 28 and 29, however, on May 30, they turned around and hit the floor after news of the leader's arrest, closing at VND17,400/share.

Source: https://www.anninhthudo.vn/tong-giam-doc-va-pho-tong-giam-doc-bi-bat-cao-su-mien-nam-noi-gi-post578086.antd