24 listed companies late filing audited business reports: HoSE

Thursday, Apr 06, 2023 06:18

A man passing by a construction site of Novaland. — Photo nld.com.vn
The Ho Chi Minh Stock Exchange (HoSE) has issued a document reminding many listed companies who have not submitted their audited financial statements for 2022.

Public companies must disclose audited annual financial statements within ten days of the audit organisations signing on the audited reports but no later than 90 days following the end of the fiscal year, as per the Ministry of Finance's regulation on information disclosure on the stock market.

Even though the deadline for submitting reports has passed, as of April 3, 24 businesses still haven't disclosed their reports following the rules.

The southern exchange said that the deadline for filing reports has expired, and it has not received the audited financial statements for 2022 of these companies. 

HoSE advises businesses to submit the reports following the law swiftly.

Most of the 24 businesses on the list work in the real estate and construction sectors, and many have asked for extensions for various reasons.

For example, Novaland sent a letter to the State Securities Commission of Vietnam (SSC) and HoSE asking them to delay the release of the annual audited financial statements for 2022.

The property developer explained that the extension for disclosing its audited financial report is to rearrange and stabilise its production and business activities and gradually restructure the business. 

The audit unit needs more time to complete auditing the company's financial statements. Therefore, Novaland requested an extension to publish the report, with an expected deadline of April 15.

Hoa Binh Construction Group JSC said that it also wants to extend the publication of its audited financial statements until May 12 at the latest.

In the letter of request for an extension, Le Viet Hai, chairman of the Board of Directors, said that a number of the company's projects across the nation recently had to be put on hold because of the challenging real estate market.

Many clients experience cash flow problems, which disrupt buildings and cause payments to be late.

And this has a significant impact on the company's ability to collect money from its initiatives. The audit unit must therefore take more time to complete its duties and gather more documents.

Moreover, Hoa Binh Construction saw numerous changes in senior personnel and conflicts among the Board of Directors members between the close of 2022 and the start of 2023. As a result, the business finds it challenging to coordinate the timely completion of financial statements and report disclosure.

Other realty companies in the list of HoSE reminding of late submission of audited financial statements are Hung Thinh Incons JSC, Louis Capital JSC, Everland Group JSC, and LDG Investment JSC.

As of April 3, some companies under FLC Group have not submitted audited financial statements: FLC Stone Mining And Investment JSC, HAI Agrochem JSC, and FLC Mining Investment & Asset Management JSC.

Others on the list included Apax Holdings, Pomina Steel Corporation, Tri Viet Securities JSC, Binh Thuan Agriculture Services JSC, and Vietnam Electricity Construction JSC. — VNS

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