The report of HCMC Department of Information and Communications reveals that New Life Service Trading Co. Ltd. violates the law by not reporting its self-made telecommunicates rates to related state units in accordance with Point a in Paragraph 3 of Article 55 in Decree No.15/2020/ND-CP, issued on February 3, 2020 by the Government about penalties for administrative violations against regulations on postal services, telecommunications, radio frequencies, information technology and electronic transactions.
In addition, the compnay violates the law by not reporting the prices to state telecommunications management units in accordance with Point b in Paragraph 6 of Article 55 in the same Decree; not reporting the changes in organizations which own more than the regulated level for charter capital or shares of the company to the Ministry of Information and Communications in accordance with Point a in Paragraph 1 of Article 22 in the same Decree; and offering telecommunications services with lower quality than the committed one in accordance with Paragraph 5 of Article 53 in the same Decree.
The report also displays that the average monthly profit earned from the monopoly state of New Life Service Trading Co. Ltd. is around VND4.6 billion (approx. US$197,650).
Therefore, HCMC Department of Information and Communications demanded that this company perform necessary actions to ensure the committed Internet speed in Phu My Hung New Urban Area. It also proposed that the Telecommunications Authority re-evaluate the company’s permit of telecommunications services.