Many stocks put under supervision status

Amid the situation that some stocks made abnormal increases and decreases and showed signs of market manipulation, the State Securities Commission of Vietnam (SSC) has been carrying out investigations on these behaviors in order to punish publicly and clarify the market.
Particularly, Duc Quan Investment and Development JSC (stock code: FTM) was listed on the Ho Chi Minh Stock Exchange since the beginning of 2017 at a price of VND18,000 per share. After that, trading of this stock took place normally and tended to decline. Unexpectedly, the price of this stocks rocketed to VND25,000 per share in June and July this year then continuously dropped till mid-September to nearly VND4,000 per share. This is an abnormal sign so the SSC needs to make it clear.

The SSC said that information of listed companies must be publicized timely and fully so as to ensure market transparency and protect investors. Recently, the Tax Department of Ho Chi Minh City released decision to sanction administrative violations of tax in 2017 and 2018 for Thu Duc Housing Development JSC (stock code: TDH) with a total amount of VND7.2 billion. Because this company made incorrect tax declaration. Therefore the city’s Tax Department fined this company for more than VND1.2 billion and collected corporate income tax arrears of more than VND6 billion. At the present, shares of TDH are traded at VND10,000-VND11,000 per share.

By Che Han – Translated by Thuy Doan

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