Last weekend, the State Securities Commission issued a decision to suspend all operations of HVS Vietnam Securities Joint Stock Company due to failure to maintain material facilities as prescribed.
Previously, this securities company was fined 200 million VND by the State Securities Commission.
Specifically, in May 2024, the State Securities Commission fined HVS Securities Company VND 125 million for changing its head office address without written approval from this agency.
At the same time, this unit was also fined VND 85 million for not reporting information that must be reported according to regulations (HVS Vietnam Securities did not report the remedial plan approved by the company's Board of Directors regarding the failure to maintain the conditions for granting a License to establish and operate securities business).
HVS was established in 2008. As of June 30, the company had 3 shareholders including Ms. Van Le Hang (holding 90.81% of shares), Ms. Ngo Thi Thuy (4.9%) and Ms. Le Nhu Hoa (4.29%).
Compared to early 2024, HVS has parted ways with 3 shareholders: Ms. Truong Thi Hong Nga, Mr. Thai Dinh Sy and Ngo Van Do. Currently, Ms. Van Le Hang is the Chairman of the Board of Directors at this securities company.
Currently, the total assets of HVS Securities are only nearly 11 billion VND, of which the majority are cash equivalents (10 billion VND).
HVS Vietnam Securities' 2024 semi-annual audited financial report shows that the company only achieved revenue of VND201 million, down more than half compared to the same period.
After deducting expenses, this company reported a loss after tax of nearly VND266 million while in the same period it made a profit of VND203 million. As of June 30, HVS Securities Company recorded an accumulated loss of VND39.3 billion.
Source: https://nld.com.vn/mot-cong-ty-chung-khoan-bi-dinh-chi-hoat-dong-196240916084059117.htm
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