Pacific Partners fined 60 million VND for violating information disclosure

The State Securities Commission has just issued a decision to impose an administrative penalty on Pacific Partners JSC. Accordingly, Pacific Partners was fined VND60 million for violating the law by not disclosing information on time.

Specifically, the company did not timely disclose information to the Hanoi Stock Exchange on the following documents: reports on the implementation of the issuing enterprise's commitments to bondholders in 2022;

Report on the use of proceeds from bond issuance for outstanding bonds audited by a qualified auditing organization in 2022.

The aggravating circumstance for Pacific Partners is that the administrative violator has committed multiple violations and the mitigating circumstance is that the administrative violator has sincerely repented.

Pacific Partners Joint Stock Company was established on March 9, 2017, with its head office located at 46 Ngo Quyen Street, Hang Bai Ward, Hoan Kiem District, Hanoi City. The legal representative and General Director of the company is Ms. Nguyen Thanh Hien.

Pacific Partners' 2023 Business Performance.

Regarding business activities, in 2023, Pacific Partners reported a profit after tax of nearly VND 260 million, down 69% compared to the previous year. As of December 31, 2023, Pacific Partners had equity of VND 207.5 billion. The return on equity (ROE) decreased from 0.41% to 0.13%.

The debt/equity ratio decreased from 3.1 times the previous year to 2.52 times, equivalent to a total debt of VND 522.9 billion. Notably, in 2023, the company did not record outstanding bonds/equity while the previous year, this ratio was 1.256 times .

Source: https://www.nguoiduatin.vn/vi-pham-cong-bo-thong-tin-pacific-partners-bi-phat-60-trieu-dong-a665572.html