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Sunday, December 4, 2022

Long Hau shares to be put under supervision this week

The Saigon Times

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HCMC – The Hochiminh Stock Exchange (HOSE) decided on September 29 to put LHG shares of Long Hau Corporation under supervision from October 6, as the industrial park developer missed the deadline to submit its 2022 reviewed semi-annual financial report.

LHG shares were put on the warning list from September 22 this year, following the HOSE’s Decision 663 dated September 15, since over 15 days had passed but the company still failed to submit the 2022 semi-annual financial report.

On September 8, the HCMC bourse announced that it put LHG on a list of stocks not eligible for margin trading for its sluggishness in releasing the 2022 reviewed semi-annual financial report.

The southern bourse on August 31 had written to Long Hau urging the firm to quickly submit the report.

In the first half of this year, Long Hau posted over VND347 billion in revenue and nearly VND90 billion in after-tax profit, falling almost 48% and 64% year-on-year, respectively.

The company looks to earn VND781 billion in revenue and VND110 billion in after-tax profit in 2022.

Closing the trading session today, October 3, LHG declined 6.57% to VND23,450.

With only 43 winners and up to 449 losers, the benchmark VN-Index on the HOSE lost 45.67 points, or 4.03% to hit its 20-month low at 1,086.44 on strong sell-off force today.

Turnover on the southern bourse contracted over 24% in volume and over 33% in value against the previous session at more than 729 million shares and over VND17.1 trillion. Shares transacted in block deals contributed about VND2 trillion to the total value.

The VN30 index shed over 50 points to end at nearly 1,100. Only real estate developer VIC reversed course to close higher by 0.9%. The remaining stocks in the VN30 basket were all decliners.

The sell-off pressure was also felt on the northern bourse. The HNX-Index inched down 12.09 points, or 4.83%, compared to last Friday at 238.17, with 42 stocks advancing and 169 others dipping.

The HNX30 index lost more than 26 points, with all 30 stocks in the HNX30 basket ending with losses.

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