What does Southern Rubber Company say after its General Director and Deputy General Director were arrested?

31/05/2024 09:19 Nhat Linh Print article

ANTD.VN - Southern Rubber Industry Joint Stock Company (Casumina, stock code: CSM) has just sent a document to the Ho Chi Minh City Stock Exchange (HOSE) announcing that its leaders have been prosecuted.

According to the document, on the afternoon of May 29th, Southern Rubber Company received a decision from the Supreme People's Procuratorate to prosecute Mr. Pham Hong Phu - General Director and Mr. Nguyen Minh Thien - Deputy General Director and information officer of the company for violating regulations on the management and use of state assets, causing losses and waste.

The company stated that it will always be ready to cooperate with relevant parties to support the investigation, and will take all necessary measures to protect the legitimate rights of the company, its customers, related partners, and shareholders.

At the same time, the Company also affirmed that it will continue to focus on carrying out its production and business activities, striving to achieve the highest possible results for 2024 as approved by the General Shareholders' Meeting.

Leaders of the Southern Rubber Industry Joint Stock Company have just been prosecuted.

Previously, on May 29th, the Investigation Police Department of the Ministry of Public Security initiated a criminal case for violating regulations on the management and use of state assets, causing losses and waste, at the Southern Rubber Industry Joint Stock Company and related units. Simultaneously, decisions were issued to prosecute, arrest warrants were issued for temporary detention, and search warrants were issued against: Mr. Pham Hong Phu, General Director of the Southern Rubber Industry Joint Stock Company; Mr. Bui The Chuyen, former Chairman of the Board of Directors of the Southern Rubber Industry Joint Stock Company; and Mr. Nguyen Minh Thien, Deputy General Director of the Southern Rubber Industry Joint Stock Company.

The Investigation Police Department of the Ministry of Public Security is continuing to expand the investigation into the case, applying measures prescribed by law to thoroughly recover assets for the State.

Regarding the business results of Southern Rubber, in 2023, the company's revenue reached VND 5,235 billion (a decrease of 2% compared to the previous year), and after-tax profit reached over VND 60 billion (a decrease of nearly 25%).

In 2024, the company planned for revenue of over VND 5,204 billion and pre-tax profit of VND 80 billion. At the end of the first quarter of 2024, the company recorded revenue of VND 1,147 billion and pre-tax profit of over VND 23 billion.

Currently, Southern Rubber has two major shareholders: Vietnam Chemical Group, which owns 52.8 million shares (accounting for 51% of the charter capital), and Saigon VRG Investment Joint Stock Company, which holds 9.2 million shares (accounting for 8.97%).

On the stock market, CSM shares surged to the ceiling price for two consecutive sessions on May 28th and 29th. However, on May 30th, the stock reversed course and fell to the floor price after news of the arrest of its leaders, closing at 17,400 VND per share.

Source: https://www.anninhthudo.vn/tong-giam-doc-va-pho-tong-giam-doc-bi-bat-cao-su-mien-nam-noi-gi-post578086.antd