Violating regulations on information disclosure, two businesses were fined more than 170 million VND

Accordingly, on April 8, the State Securities Commission Inspectorate issued Decision No. 38/QD-XPVPHC on administrative sanctions against Hung Thinh Quy Nhon Entertainment Services Joint Stock Company (address: Lot K20, Hung Thinh Residential Area, Che Lan Vien Street, Area 3, Ghenh Rang Ward, Quy Nhon City, Binh Dinh Province).

Hung Thinh Quy Nhon Entertainment Services Joint Stock Company was fined VND 85 million according to the provisions of Point a, Clause 4, Article 42 of Decree No. 156/2020/ND-CP dated December 31, 2020 of the Government stipulating administrative sanctions for violations in the field of securities and the securities market for failing to disclose information according to the provisions of law.

Specifically, Hung Thinh Quy Nhon Entertainment Services Joint Stock Company did not periodically disclose information for the following documents: Report on the use of proceeds from the issuance of audited bonds for the first half of 2023; The Company did not send the information disclosure content to the Hanoi Stock Exchange on time for the following documents: Implementation status of the issuing enterprise's commitments to bondholders in 2022, Report on the use of proceeds from the issuance of audited bonds for the first half of 2022, Semi-annual financial report for the first half of 2023, Resolution of bondholders HQNCH2124005 on adding conditions and terms related to bond interest payment, amending the terms and conditions of bond HQNCH2124007.

Previously, on April 4, the State Securities Commission issued Decision No. 36/QD-XPHC on administrative sanctions in the field of securities and securities market against Irrigation Equipment Joint Stock Company (Head office address: Km10, Nguyen Trai Street (Hanoi-Ha Dong), Thanh Xuan Bac Ward, Thanh Xuan District, Hanoi City).

Irrigation Equipment Joint Stock Company was fined VND 92.5 million according to the provisions of Point a, Clause 4, Article 42 of Decree No. 156/2020/ND-CP dated December 31, 2020 of the Government stipulating administrative sanctions in the field of securities and the securities market for the act of not disclosing information according to the provisions of law.

Specifically, the Company does not disclose information on the State Securities Commission's information disclosure system for the semi-annual and annual corporate governance reports for 2021, 2022, 2023, 2024; Annual reports for 2021, 2022, 2023; Resolutions and Minutes of the Annual General Meeting of Shareholders for 2021, 2022, 2023, 2024.

In addition, Irrigation Equipment Joint Stock Company did not disclose information within the time limit prescribed by law on the State Securities Commission's Information Disclosure System for the 2022 and 2023 audited financial statements.

Source: https://nhandan.vn/violation-of-information-regulations-two-enterprises-are-punished-by-170-million-dong-post871349.html