The State Securities Commission has just issued a decision to administratively sanction Ms. Truong Kha Tu, daughter of Ms. Lu Le Tran, a member of the Board of Directors of Trung An High-Tech Agriculture Joint Stock Company (TAR).

Ms. Tu did not report 5 transactions related to TAR shares made in 2021.

Specifically, Ms. Tu bought 1.84 million shares from May 18 to 24, 2021; bought 100,000 shares and sold 30,000 shares from July 8 to 13, sold more than 1.9 million shares from August 13 to 18, and sold 191,700 shares on September 6.

For the above actions, Ms. Tu was fined more than 431 million VND. At the same time, Ms. Tu was also additionally fined by being suspended from securities trading activities for a period of 4.5 months.

According to Trung An's management report, by the end of June 2023, Ms. Lu Le Tran owned 726 shares (equivalent to 0.001%). She has been a member of the Board of Directors since May 2018.

Regarding TAR shares, on October 25, Hanoi Stock Exchange (HNX) announced that this stock will be transferred to restricted trading from October 30.

The reason for putting TAR shares on the restricted trading list is because Trung An delayed the publication of its audited separate and consolidated financial statements for the 2023 semi-annual period by more than 45 days compared to the prescribed time.

According to the consolidated financial report for the third quarter of 2023, Trung An's net revenue reached VND966 billion, up 93% over the same period. Profit after tax reached more than VND12.2 billion, up 6 times over the same period last year.

In the first 9 months of the year, Trung An's accumulated revenue reached more than 3,500 billion VND, an increase of 57% over the same period; profit reached more than 12.8 billion VND, a decrease of 75% over the same period last year.

Trung An High-Tech Agriculture Joint Stock Company develops a model of pure organic rice, and is also a large producer and exporter of clean rice in Vietnam. With an agricultural area spanning tens of thousands of hectares across the Western provinces, Trung An produces 150,000 - 200,000 tons of rice annually.

At the end of the trading session on October 27 (the last day before being restricted from trading), TAR shares reached 11,000 VND/share.

The State Securities Commission has just decided to fine a company nearly 1 billion VND for illegally selling shares of a bird's nest company without reporting it.