Regulatory Alerts2025-07-18 | 39/KL-TTAdded · Updated
Inspection Conclusion No. 39/KL-TT on Inspection of Phuoc An Port Investment and Exploitation Joint Stock Company
The State Securities Commission issued Inspection Conclusion No. 39/KL-TT regarding the inspection of Phuoc An Port Investment and Exploitation Joint Stock Company (PAP) for the period from January 1, 2023, to April 1, 2025. The regulator found that PAP violated securities laws by failing to obtain prior approval for loans from related parties and by illegally providing loans to shareholders and related organizations. Additionally, the company committed disclosure violations by submitting inaccurate progress reports on the use of funds raised from private share placements in 2022 and 2024.
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