On January 25, PetroVietnam General Services Corporation (PETROSETCO) sent the State Securities Commission an unusual announcement regarding the arrest of an independent member of the Board of Directors.

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Nguyen Quy Thinh, member of the Board of Directors of Petroleum General Services Joint Stock Corporation

According to PETROSETCO, this is a personal act of an independent member of the Board of Directors and will be handled by the authorities in accordance with the provisions of law. This incident does not disrupt or affect the operations or common interests of PETROSETCO Corporation and related parties.

The company said it is currently cooperating with the authorities within the scope of regulations, and will rely on the conclusions and judgments of the law to appropriately implement procedures on personnel organization.

On January 22, information from the Ministry of Public Security said that the Ministry of Public Security's Investigation Police Agency has prosecuted and temporarily detained Nguyen Quy Thinh, Deputy Head of Investment Department, Saigon-Hanoi Securities Joint Stock Company; member of the Board of Directors of the Petroleum General Services Joint Stock Corporation (PETROSETCO) for the crime of "Receiving bribes."

The Ministry of Public Security's Investigation Police Agency is investigating to clarify signs of bribery occurring at the Petroleum General Services Joint Stock Corporation and related units.

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