DNVN - The Ho Chi Minh City Stock Exchange issued a notice reminding Petrosetco (stock code: PET) of the delay in disclosing information regarding the Board of Directors' resolution approving related-party contracts and transactions.
On September 19th, the Ho Chi Minh City Stock Exchange (HoSE) received Official Letter No. 259 dated September 19, 2024, from the PetroVietnam General Services Joint Stock Company (stock code: PET) disclosing supplementary information regarding Board of Directors Resolutions No. 07 dated February 23, 2023, and No. 09 dated February 28, 2023, concerning guarantees for subsidiaries granted credit limits.
Circular 96 dated November 16, 2020, issued by the Ministry of Finance , guiding the disclosure of information on the securities market, stipulates: “Public companies must disclose unusual information within 24 hours of the occurrence of one of the following events:... A decision of the General Meeting of Shareholders or the Board of Directors approving a contract or transaction between the company and insiders, related parties of insiders, or related parties of the public company.”
Petrosetco (Vietnam Petroleum General Services Joint Stock Company) has been reprimanded for delaying the disclosure of information regarding the Board of Directors' resolution approving contracts and transactions with related parties.
Given that PETROSETCO was slow in disclosing the aforementioned resolutions as required, HoSE reminded and requested PETROSETCO to seriously fulfill its obligation to disclose information on the stock market in accordance with current regulations to ensure the rights of shareholders and investors.
Regarding business performance, PETROSETCO's audited consolidated semi-annual financial report for 2024 shows that pre-tax accounting profit reached VND 114 billion - far exceeding the VND 58.9 billion recorded in the same period of 2023. After deducting expenses, after- tax profit reached VND 84.1 billion, a significant increase compared to the VND 43.7 billion recorded in the same period last year.
PETROSETCO was established in June 1996, specializing in providing living, lifestyle, and tourism services for the oil and gas industry. In 2007, the company transformed into the Vietnam Oil and Gas General Services Corporation and listed its shares on the HoSE stock exchange.
Currently, this company operates in many fields, from wholesale of plastic resins and fibers; trading of office equipment, audiovisual equipment, real estate business to supplying specialized materials and equipment for the oil and gas industry; transportation and handling of oversized and overweight components…
PETROSETCO has 11 directly owned subsidiaries, 2 indirectly owned subsidiaries, 3 directly associated companies, and 1 indirectly associated company… Mr. Phung Tuan Ha holds the position of Chairman of the Board of Directors and legal representative, while Mr. Vu Tien Duong is the General Director.
Thu An
Source: https://doanhnghiepvn.vn/kinh-te/chung-khoan/-petrosetco-bi-nhac-nho-do-cham-cong-bo-thong-tin/20240924025715866
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