Pomina Steel seeks to clear debt with development fund
By Dat Nguyen December 15, 2020 | 04:44 pm GMT+7
Pomina Steel s new blast furnace in Ba Ria-Vung Tau Province, southern Vietnam. Photo by courtesy of the company.
Pomina, one of Vietnam s largest steel producers, is seeking shareholders’ permission to use VND450 billion ($19.4 million) from its development fund to cover mounting losses.
The cash, accounting for 88 percent of its development fund, would be transferred to its post-tax profit account and used to wipe off the VND202 billion in post-tax losses the company had accumulated as of the end of September this year.
The Ho Chi Minh City Stock Exchange had in April issued a warning to investors about Pomina’s POM shares as the company was yet to address its losses.
Phu Hung Securities liable for tax penalties in Vietnam 19:24 | 14/12/2020
Phu Hung Securities needs to pay $15,110 in CIT and $17,300 in late payment fees
According to the Ho Chi Minh City Stock Exchange, Phu Hung Securities is liable to pay tax penalties, including corporate income tax arrears of VND347.5 million ($15,110) and late payment of VND398 million ($17,300).
According to the firmâs announcement, which is officially published on its website, Phu Hung Securities âsincerely discloses information on the receipt of Decision No.3593/QD-CCT dated December 11, 2020 on administrative sanction for violations pertaining to taxation of Department of Taxation of District 7 area â Nha Be district.â
Successful extraordinary general meeting for SCB 08:00 | 14/12/2020
SCBâs vice chairman Bui Anh Dung delivered the opening speech
With the majority of votes, shareholders approved the policy of increasing charter capital and a roadmap for listing the bank on the Ho Chi Minh City Stock Exchange (HSX). They also approved amendments and supplements to the charter on organisation and operation of the bank.
At the same time, the meeting also approved the transactions of receiving assets to replace the borrower/mortgagorâs repayment obligations worth more than 20 per cent of SCBâs charter capital.
The meeting ratified the policy of increasing the charter capital by VND15 trillion ($652 million) in the period of 2020-2030, of which, in 2020-2021, it will increase by VND5 trillion ($217.4 million). The target was set for SCB to officially list on HSX no later than 2025. The meeting also assigned SCBâs Board of Directors to propose spe