The Golden Group faces steep fine for failure to disclose information

The State Securities Commission’s Inspectorate fined The Golden Group Joint Stock Company VNĐ92.5 million for failing to disclose information as required by law. Photo baolangson.vn

HÀ NỘI The Golden Group Joint Stock Company has recently been fined more than VNĐ90 million (US$3,700) by the State Securities Commission for failing to disclose information as required by regulations, including financial reports and annual reports.

Specifically, on January 25, the State Securities Commission’s Inspectorate issued Decision 40/QD-XPHC imposing an administrative fine on the Golden Group Joint Stock Company, located at the 7th floor, 45 Võ Thị Sáu Street, Đa Kao Ward, District 1, HCM City, in the amount of VNĐ92.5 million, for failing to disclose information according to law.

The company failed to disclose information on the State Securities Commission’s Information Disclosure System, the HCM City Stock Exchange’s electronic information portal, and the company’s electronic information portal for its separately audited and consolidated financial reports for 2022, as well as its semi-annual separately audited and consolidated financial reports for 2023.

The Golden Group Joint Stock Company (TGG), formerly known as Louis Capital Joint Stock Company, was established in 2012. In 2018, TGG began trading on the Ho Chi Minh City Stock Exchange (HoSE).

The Golden Group operates in various investment sectors, including real estate, securities, debt trading, aquaculture, agriculture and livestock farming.

In terms of business results, in the first nine months of 2023, the Golden Group reported net revenue of VNĐ2.7 billion, a decrease of over 99 per cent compared to the same period last year (VNĐ575.7 billion).

After deducting costs and expenses, the Golden Group recorded a post-tax loss of VNĐ21.1 billion, compared to a loss of VNĐ24.9 billion in the same period last year. VNS