VHG: VHG faces delisting risk
On January 30, 2019, the Hochiminh Stock Exchange (HOSE) received the Q4.2018 and consolidated financial statements from Quang Nam Rubber Investment Joint Stock Company (stock code: VHG). Accordingly, the after-tax profit of the parent company’s shareholders was -239,567,181,488 dongs and the undistributed after-tax profit until 12/31/2018 was -1,255,785,184,602 dongs.
According to Point dd, Provision 1, Article 60, Decree No.58/2012/ND-CP, securities will be delisted if the listed firm has losses in three consecutive years or the total accumulated loss exceeds the paid-in charter capital in the last year prior to the time of review. Therefore, HOSE will implement procedure to delist the stock of VHG if the Company’s profit after tax in the 2018 audited financial statements is negative.