Selling shares of a bird's nest company illegally results in a nearly 1 billion VND fine.

Specifically, Nha Trang Tourism and Trade Joint Stock Company registered to sell 500,000 SKV shares of Khanh Hoa Bird's Nest Beverage Joint Stock Company during the period from December 1st to December 30th, 2021.

However, Nha Trang Commercial Tourism sold 23,813 SKV shares on November 23, 2021, before the permitted trading period. This act resulted in a fine of 7.5 million VND.

In addition, the company was fined 930 million VND for administrative violations for failing to report the planned transaction.

Accordingly, the company sold 3.1 million SKV shares on June 21, 2021, but failed to report the planned transaction.

The total fines for these violations amounted to nearly 938 million VND. An additional penalty was the suspension of securities trading activities for a period of 3 months.

Regarding the bird's nest business, a recent review by the Ho Chi Minh City tax authorities revealed that one bird's nest company issued invoices worth 34,000 billion VND (equivalent to nearly 1.5 billion USD) in just 7 days. To generate this enormous revenue, the company issued invoices day and night.

During the inspection, the tax authorities discovered that only 40 million VND was for invoices related to bird's nest business, while the rest were invoices issued to the stock market. The company reported this to the Ho Chi Minh City Tax Department and sent a written inquiry to the securities company.

In this matter, Ho Chi Minh City Securities (HSC) stated that the securities company provides a full range of financial products and services as licensed by the State Securities Commission, including brokerage services for futures contracts (derivative securities). Customers who opened trading accounts at HSC in accordance with regulations are provided with trading services as usual.

News from listed companies

The stock market also has several other important events for companies listed on the exchange.

* ACB : ACB Bank announced profits exceeding VND 5,000 billion in the third quarter of 2023. For the first nine months of the year, ACB achieved over VND 15,000 billion in pre-tax profit, equivalent to 75% of its annual profit target.

* VNS : Anh Duong Vietnam Joint Stock Company announced that in the third quarter of 2023, it recorded net revenue of VND 312.5 billion and profit of VND 32.8 billion. For the first nine months of 2023, net revenue reached VND 941 billion and after-tax profit reached VND 126 billion.

* SGN : Saigon Ground Services Joint Stock Company reported a net profit of over 72 billion VND in the third quarter. For the first nine months of the year, SGN recorded net revenue of 1,090 billion VND and a net profit of 203 billion VND.

* VIC : According to the consolidated financial statements, Vingroup achieved a net profit after tax of over VND 1,556 billion in the first nine months of 2023, approximately the same as the same period last year. As of September 30th, Vingroup's total assets reached VND 625,387 billion, an 8% increase compared to the beginning of the year.

* VRE : Vincom Retail Joint Stock Company reported a net profit of nearly VND 1,317 billion in Q3/2023, a 66% increase compared to the same period last year. For the first nine months of the year, VRE achieved revenue of VND 7,449 billion, a 76% increase compared to the same period. Net profit reached over VND 3,341 billion, a 72% increase.

* PNS : Funan Securities Joint Stock Company announces the appointment of Ms. Do Thi Anh Minh as Chairman of the Board of Directors effective October 23rd. Ms. Minh was recently elected as a Member of the Board of Directors for the third term, 2019-2024, at the first extraordinary General Meeting of Shareholders in 2023.

* MDC: In the third quarter, Mong Duong Coal Joint Stock Company - Vinacomin recorded net revenue of VND 570 billion and net profit of nearly VND 10 billion. For the first nine months of the year, the company recorded net revenue of VND 1,980 billion and net profit of VND 39 billion.

* ECI : MYA Capital Investment Group Joint Stock Company purchased 130,000 shares of ECI Group Joint Stock Company, equivalent to 7.39%, on October 17th.

* RCL : CORES Investment Co., Ltd. registered to purchase 100,000 shares of Cho Lon Real Estate Joint Stock Company on October 12th. After the transaction, the company holds 777,000 shares, representing 5.61%, becoming a major shareholder of RCL.

* GKM : APG Securities Joint Stock Company successfully purchased over 800,000 shares of Khang Minh Group Joint Stock Company on October 17th.

VN-Index

At the close of trading on October 24th, the VN-Index rose 12.37 points (+1.13%), to 1,105.9 points. The HNX-Index increased 2.64 points (+1.16%), to 228.89 points. The UpCoM-Index gained 0.28 points (+0.32%), reaching 85.54 points.

Market analysis by Vietnam Construction Securities (CSI) suggests that investors are quite worried due to the decline in major global indices, so the decrease in liquidity at the support level is a positive sign for a recovery trend.

Investors should hold onto the stocks they bought tentatively at the 1,080-point support level and increase their holdings in the coming sessions, prioritizing opening buy positions when the overall market undergoes a correction.

According to Yuanta Vietnam, the short-term trend of the overall market remains downward. Therefore, short-term investors can continue to hold their current stock holdings and continue to observe market developments in the next trading session. At the same time, investors should not sell at the current price level.

Former Bamboo Airways CEO becomes Vietravel Airlines CEO . Vietravel Airlines officially appointed Mr. Nguyen Minh Hai, former CEO of Bamboo Airways for nearly two months, as the airline's new CEO after Mr. Vu Duc Bien resigned on October 23rd.

Source: https://vietnamnet.vn/ban-chui-co-phieu-cong-ty-yen-sao-bi-phat-gan-1-ty-dong-2206277.html