According to the State Securities Commission, Ba Ria - Vung Tau Housing Development Joint Stock Company, located on the 3rd floor of Hodeco Plaza Building, 36 Nguyen Thai Hoc Street, Ward 7, Vung Tau City, Ba Ria - Vung Tau Province, has committed several violations in the field of securities and the securities market.
In that case, the State Securities Commission decided to fine the company 60 million VND for failing to disclose information within the legally prescribed timeframe.
For publishing some false information, Ba Ria - Vung Tau Housing Development Joint Stock Company was fined 235 million VND. (Photo: CL)
The State Securities Commission also fined the company 25 million VND because it failed to include the remuneration of each member of the Board of Directors, the salary of the General Director (Director), and other managers as separate items in the company's financial statements.
The company was also fined 150 million VND for publishing numerous misleading pieces of information. For example, the company failed to disclose information within the prescribed timeframe regarding the Annual General Meeting of Shareholders' Documents for 2022; the company also published misleading information about ownership percentage figures presented in the explanatory notes to its separate financial statements for 2022.
"The company owns 100% of Hodeco Real Estate Management and Services Co., Ltd., but the explanation of long-term financial investment on page 29 states that the company owns 80% (equivalent to VND 8 billion) of the aforementioned subsidiary," the announcement from the State Securities Commission stated.
The total fine for the three violations is 235 million VND.
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