{"article":{"id":"2221253","title":"Delisting of shares of 'Louis family' that Mr. Do Thanh Nhan once inflated","description":"Ho Chi Minh City Stock Exchange (HoSE) has just announced the mandatory delisting of The Golden Group Joint Stock Company (TGG), which was once related to Mr. Do Thanh Nhan.","contentObject":"
According to HoSE, TGG shares are being monitored for violations, trading suspension and inspection.
\nOn September 11, TGG was suspended from trading due to the listed organization violating regulations on information disclosure on the stock market after being placed on the restricted trading list. Currently, TGG has not yet disclosed the 2022 audited financial report, 6 months after the prescribed deadline.
\nOn October 4, TGG was inspected for being 30 days late in submitting its 2023 semi-annual audited financial report. TGG has not yet disclosed its 2023 audited financial report and is 45 days past the deadline.
\nOn October 31, The Golden Group issued an official dispatch to facilitate the company to submit its 2022 audited financial statements no later than November 15. To date, the company has yet to announce its 2022 audited financial statements and its 2023 semi-annual audited financial statements.
\nAccording to HoSE, since the time of suspension of trading, the company's information disclosure violations have not been resolved and are likely to continue to occur and prolong, seriously violating the obligation to disclose information and affecting the rights of shareholders.
\nThe Golden Group JSC was previously known as Truong Giang Investment and Construction JSC. Mr. Do Thanh Nhan and a group of shareholders related to Louis Holding acquired it and changed its name to Louis Capital.
\nAt that time, this stock was only priced at VND 1,800/share. Under Mr. Nhan's manipulation, TGG's price increased continuously, reaching a peak of VND 74,800/share (September 2021).
\nAfter Mr. Nhan was arrested and sentenced to 5.5 years in prison for stock manipulation, the stock price fell to rock bottom, causing many investors to suffer heavy losses. Meanwhile, the company changed its name to The Golden Group.
\nClosing session on November 30, TGG traded at 2,370 VND/share, down nearly 97% from the peak and with no transactions.
\nBusiness News
\nThe stock market has a number of other important events of listed companies.
\n* LDG: On November 27, the Inspectorate of the State Securities Commission (SSC) issued a Decision on administrative sanctions against LDG Investment JSC for late announcement of the Explanation of Profit After Corporate Income Tax and late announcement of the audited 2022 Semi-Annual Financial Statements to the Hanoi Stock Exchange (HNX). For this violation, LDG was administratively fined VND 65 million by the SSC.
\n* DHC: On November 28, Dong Hai Ben Tre Joint Stock Company announced that it had received a decision to impose a penalty for violations due to incorrect declaration leading to a shortage of corporate income tax from the Ben Tre Provincial Tax Department. The total amount of tax arrears, fines and late payment fees is more than 443 million VND.
\n* DCM : Ca Mau Petroleum Fertilizer Joint Stock Company - Ca Mau Nitrogen Fertilizer aims to complete the acquisition of Han - Viet Fertilizer Company Limited (KVF) for 25 million USD by the end of 2023 to double the capacity of the NPK fertilizer segment.
\n* YEG: On December 15, Yeah1 Group Corporation will close the list of shareholders to issue bonus shares. The issuance ratio is 1,000:722, meaning that shareholders owning 1,000 shares will receive 722 new shares.
\n* POM: Ms. Do Thi Kim Lang, sister of Mr. Do Duy Thai, Chairman of the Board of Directors of Pomina Steel Company, registered to sell all 353,788 shares, reducing ownership from 0.13% of charter capital to 0%. The transaction is expected to take place from December 4 to January 2, 2024.
\n* HNX: On December 5, HNX organized an auction of shares of Northern Electrical Equipment Joint Stock Company (NEEM) owned by the Northern Power Corporation (EVNNPC).
\n* PGB: The Board of Directors of Petrolimex Joint Stock Commercial Bank (PG Bank) has just approved the implementation of increasing charter capital from VND 3,000 billion to VND 5,000 billion by issuing 120 million bonus shares to existing shareholders, at a ratio of 10:4.
\n* VND: VNDirect Securities Corporation has registered to buy nearly 2.9 million PTI shares of the Post and Telecommunication Insurance Corporation. The transaction is expected to take place from December 1 to December 31, through negotiation and/or order matching on the stock exchange.
\nVN-Index
\nAt the end of the trading session on November 30, VN-Index decreased by 8.67 points (-0.79%) to 1,094.13 points, HNX-Index decreased by 0.88 points (-1.39%) to 226.15 points, UpCOM-Index decreased by 0.06 points (-0.06%) to 84.99 points.
\nAgriseco Securities said that VN-Index is at the convergence zone of many MA lines and has not yet confirmed a clear trend. Momentum indicators in the neutral zone also show that buyers and sellers are in a state of balance.
\nAgriseco Research believes that the market is accumulating with a gradually narrowing range, VN-Index may continue to form a price base with alternating up and down sessions before forming a new trend. Investors should limit new disbursements to wait for more accumulation signals or breakthroughs with liquidity of sufficient reliability from the market.
\nAccording to VCBS Securities, profit-taking pressure on T+ caused the market to lose steam, reversing to decrease points but still sticking closely to the MA20 moving average.
\nMost indicators on the daily chart are still breaking sideways, in which ADX is still maintained at the 25 area, so there is a high probability that VN-Index in the short term will continue to trade in a zigzag correction wave with alternating up and down sessions.
\n
View author's postsHo Chi Minh City Stock Exchange (HOSE) has just announced the cancellation of mandatory listing for The Golden Group Joint Stock Company (TGG), once related to Mr. Do Thanh Nhan.
According to HOSE, TGG shares are in monitoring violations of transactions suspension and inspection.
On September 11, TGG was suspended from transactions due to the listing organization that violated the regulations on information disclosure on the stock market after being put into limited transaction. Currently, TGG has not published information on financial statements controlled by 2022, more than 6 months compared to the prescribed time limit.
On October 4, TGG was controlled due to delayed financial statements for sale of the 2023 year for more than 30 days compared to the prescribed term. TGG has not published information about the 2023 review financial statements and has been over 45 days compared to the prescribed time limit.
On October 31, The Golden Group issued a dispatch on creating conditions for the company to receive auditing financial statements in 2022 by November 15. Up to now, this company has not published information on auditing financial statements in 2022 and financial statements for semi -year -old reviews in 2023.
According to HOSE, from the time of suspension of transactions up to now, the violations of the company's information disclosure have not been overcome, potentially continued and prolonged, seriously violating information disclosure and affecting shareholders' interests.
The Golden Group Joint Stock Company was previously named Truong Giang Investment and Construction Joint Stock Company. Mr. Do Thanh Nhan and shareholders related to Louis Holding acquired and renamed Louis Capital.
This stock at that time was only VND 1,800/share. Under Mr. Nhan's manipulation, TGG increased continuously, peaked VND 74,800/share (September 2021).
After Mr. Nhan was arrested and sentenced to 5.5 years in prison for securities manipulation, this stock price dropped to the bottom, causing many investors to suffer heavy losses. Meanwhile, the company has changed its name to The Golden Group.
At the closing session of November 30, TGG traded at VND 2,370/share, down nearly 97% compared to the peak and no transaction.
Business News
The stock market has a number of other important events of listed companies.
* LDG: On November 27, the Inspectorate of the State Securities Commission (SSC) issued a decision on sanctioning administrative violations for LDG Investment JSC due to the delayed announcement of profit after tax of CIT and announcing the 2022 semi -annual financial statements for improper review of the Hanoi Stock Exchange (HNX). With this violation, LDG was fined 65 million VND by the SSC.
* DHC: On November 28, Dong Hai Joint Stock Company announced that it received a decision to sanction the violation for wrong declaration leading to the lack of CIT amount of Ben Tre Tax Department. The total amount of tax collection, fine and late payment is over 443 million dong.
* DCM : Ca Mau Petroleum Fertilizer Joint Stock Company - Ca Mau Fertilizer aims to complete the acquisition of Han - Vietnamese Fertilizer Co., Ltd. (KVF) $ 25 million at the end of 2023 to double the capacity of NPK fertilizer array.
* YEG: On December 15, Yeah1 Group Joint Stock Company will close the list of shareholders to issue bonus shares. The issuance rate of 1,000: 722, corresponding to shareholders owning 1,000 shares received 722 new shares.
* Pom: Ms. Do Thi Kim Lang, Mr. Do Duy Thai, Chairman of the Board of Directors of Pomina Steel Company registered to sell all 353,788 shares, reducing ownership from 0.13% of charter capital to 0%. Expected transactions are made from 12/12-2/1/2024.
* HNX: On December 5, HNX organized a auction of Northern Electrical Equipment Joint Stock Company (NEEM) owned by Northern Power Corporation (EVNNPC).
* PGB: The Board of Directors of Petrolimex Petroleum Commercial Joint Stock Bank (PG Bank) has just approved the implementation of increasing charter capital from VND 3,000 billion to VND 5,000 billion to VND 120 million to the existing shareholder, 10: 4.
* VND: VNDIRECT Securities Joint Stock Company has registered to buy nearly 2.9 million PTI shares of the Post Insurance Corporation. Expected transactions are made from 12-12-31/12, according to the agreement and/or command transaction method.
VN-Index
At the end of November 30, VN-Index decreased by 8.67 points (-0.79%) to 1,094.13 points, HNX-Index decreased by 0.88 points (-1.39%) to 226.15 points, UPCoM-Index decreased by 0.06 points (-06%) to 84.99 points.
Agriseco stock said VN-Index is in the convergence area of many ghost lines and has not yet confirmed the trend clearly. The momentum indicators in the neutral area also show that the buyer and the seller are in equilibrium.
Agriseco Research said that the market is accumulating with a narrowing amplitude, VN-Index may continue to form a background with alternating increase and decrease before forming a new trend. Investors restrict new disbursement to wait for additional signals to accumulate or break through with the liquidity sufficient reliability from the market.
According to VCBS securities, the pressure closing pressure T+ makes the market somewhat short of breath, reversing decreases but is still following the average MA20 cave.
Most indicators in the daily graph frame are still broken, of which ADX remains in the 25 area, so the high probability of VN-Index in the short term will continue to trade in the Zigzag correction wave rhythm with interwoven sessions.
Source
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