How do securities companies involved in the FLC, APEC, and Van Thinh Phat cases do business?

Some securities companies that were "involved" in criminal cases at FLC Group of Mr. Trinh Van Quyet; APEC Company of Mr. Nguyen Do Lang or related to Van Thinh Phat case of Ms. Truong My Lan have reported their business results for 2023.

Specifically, Asia Pacific Securities Joint Stock Company (stock code APS) achieved revenue in the fourth quarter of 2023 of nearly VND 27 billion, down 66% compared to the fourth quarter of 2022. All main business segments saw revenue decline, in which profit from financial assets recorded through profit/loss (FVTPL) decreased by 72% to less than VND 20 billion. Operating expenses decreased by 91% but the company continued to report a loss of nearly VND 4 billion in the last quarter of 2023.

Companies involved in criminal cases such as FLC, Van Thinh Phat... continue to report losses.

In total, in 2023, the company reported a loss after tax of VND 172 billion, down from the loss of VND 445 billion in 2022 thanks to a 57% reduction in operating costs. The company said that its business results in the fourth quarter of 2023 and 2023 fluctuated significantly due to the company restructuring its proprietary trading portfolio, leading to fluctuations in investment items. APS Securities Company is one of three companies in the "APEC family" that were prosecuted by the Investigation Security Agency - Hanoi City Police for a criminal case of stock manipulation in mid-2023.

Another unit, Tan Viet Securities Company, also reported a net loss of more than VND 66 billion in the fourth quarter of 2023, narrowing compared to the loss of more than VND 202 billion in the same period in 2022. Accumulated for the whole year of 2023, the company's after-tax loss was VND 397.3 billion, while the plan for 2023 was only a loss of VND 570 million.

At the end of June 2023, the Vietnam Stock Exchange (VNX) issued Decision No. 44/QD-SGDVN suspending the purchase of securities on the listed securities market and the registered trading market for Tan Viet Securities. The reason for the suspension is that the company was placed under special control by the State Securities Commission. According to the investigation conclusion of the Ministry of Public Security , Tan Viet Securities Joint Stock Company belongs to the group of financial institutions in Vietnam of Van Thinh Phat Group, along with Saigon Commercial Joint Stock Bank (SCB).

In particular, Tri Viet Securities Company (stock code TVB) - the company involved in the "Louis family" stock price manipulation case of Mr. Do Thanh Nhan - former Chairman of Louis Holdings - reported a return to profit after a heavy loss in 2022. Specifically, in 2023, Tri Viet Securities had revenue of 125 billion VND, down 19% compared to 2022 and after-tax profit of 63 billion VND compared to a loss of 318 billion VND in 2022.

Previously, BOS Securities Company (stock code ART) - the company involved in the stock manipulation case of former FLC Group Chairman Trinh Van Quyet - reported a loss of more than VND 986 billion in 2022 business results. The company explained that the reason was due to operating expenses increasing by more than VND 1,000 billion due to having to set aside provisions for GABm stock loans, capital contributions to FLCHomes Real Estate Development and Investment Joint Stock Company and FLC Capital and Asset Management Company...

Source link: https://thanhnien.vn/cong-ty-chung-khoan-dinh-vao-cac-vu-an-flc-apec-van-thinh-phat-kinh-doanh-ra-sao-185240125112106356.htm