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Thursday, September 29, 2022

Three stocks in FLC family put on warning list

The Saigon Times

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HCMC – Three stocks linked to Vietnamese diversified conglomerate FLC Group, including FLC, ROS and HAI, will be put on the warning list as from April 26 by the Hochiminh Stock Exchange (HOSE).

The decision came as the three delayed sending their 2021 audited financial statements or semiannual ones. The Finance Ministry’s Circular 96/2020 requires these statements to be submitted no later than March 31.

HOSE has repeatedly asked the three entities to submit their financial statements but in vain, the local media reported.

In another development, FLC Group has announced that it will organize an extraordinary shareholder meeting to discuss filling vacancies on the board of directors and the supervisory board for the 2021-2026 tenure.

After Trinh Van Quyet and Vice Chairwoman Huong Tran Kieu Dung had been arrested for alleged stock market manipulation, Dang Tat Thang was picked as FLC Chairman from March 31.

The board of directors now has three members, including Thang, General Director Bui Hai Huyen and Deputy General Director La Quy Hien, while the FLC supervisory board has only two members after Nguyen Chi Cuong and Phan Thi Bich Phuong tendered resignation.

Closing the trading session today, April 20, FLC, ROS and HAI plunged into their floor prices.

On the southern bourse, the VN-Index continued its downward spiral and ended down 21.73 points, or 1.55%, from the session earlier, at 1,384.72 points, with losers outnumbering gainers by 381 to 76. Over 688 million shares valued at VND20.5 trillion changed hands, down 2% in volume and 9% in value against the previous session.

The VN30 basket saw nine stocks inch up at the close, while the rest fell into negative territory.

Facing the same fate, the HNX-Index of the Hanoi Stock Exchange slid 12.65 points, or 3.22%, from the day earlier at 380.04 due to strong selloffs.

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