Coffee firm Thang Loi seeks regulator help over stock price turbulence

By Trang Nguyen
Sun, September 18, 2022 | 10:45 am GMT+7

Thang Loi Coffee JSC is proposing the State Securities Commission and Hanoi Stock Exchange (HNX) conduct an inspection of individuals who made transactions that led to the abnormal increases of its shares.

Thang Loi Coffee JSC is mainly engaged in planting and trading coffee and other agricultural products. Photo courtesy of capherangxay.vn.

Thang Loi Coffee JSC is mainly engaged in planting and trading coffee and other agricultural products. Photo courtesy of capherangxay.vn.

The company said it had reported abnormal trading of its CFV shares many times in accordance with regulations, which confirmed its management and insiders did not make any impact on stock trading.

"It is very unusual for company shares to continuously hit the ceiling and at such volume. There was only one order to buy and sell at the ceiling price during the sessions. The company suspects that some individuals take advantage of a loophole in the stock market to manipulate the company's stock price for personal reasons," CFV wrote.

From August 15 to September 13, 2022, CFV shares rose to the ceiling continuously on the unlisted public company market UpCOM (15% variation), which brought the shares price from VND4,500 per share to VND60,100 ($2.54) per share, according to the company's document sent to the HNX.

However, the matching volume of sessions was very low, at only about 100-300 units.

At the end of the session on Friday, CFV shares recorded their 24th consecutive ceiling increase, raising the shares price to VND91,300 ($3.86) per unit, equivalent to a 21-fold increase since August 12.

Established in 1977 in the Central Highlands province of Dak Lak, Thang Loi Coffee JSC is mainly engaged in planting and trading coffee and other agricultural products with 2,141 hectares of allocated land.

In the first half of the year, the company lost about VND2.8 billion ($118,300), while it reported a profit of VND2.4 billion in the same period last year.

It recorded a net revenue of VND221.6 billion ($9.36 million) during the period, up 6% year-on-year.

By June 30, 2022, the company's total assets had reached VND215 billion ($9.09 million), up 16.9% compared to the beginning of the year, of which inventory hit VND36.4 billion ($1.54 million).

Comments (0)
  • Read More
Vingroup partners with e-commerce platform Shopee to develop logistics infrastructure

Vingroup partners with e-commerce platform Shopee to develop logistics infrastructure

Vietnam’s leading multi-sector conglomerate Vingroup and Shopee, the country’s top e-commerce platform, on Friday signed an MoU to develop infrastructure for e-commerce fulfillment services, enhance digital connectivity between businesses and consumers, and build a sustainable digital ecosystem.

Companies - Mon, June 9, 2025 | 11:48 am GMT+7

Finish fund Pyn Elite spends $41.4 mln on MBB shares of MBBank in May

Finish fund Pyn Elite spends $41.4 mln on MBB shares of MBBank in May

Finish investment fund Pyn Elite allocated an additional 3% of its portfolio (VND700 billion or $41.38 million) to 26 million MBB shares of MBBank last month, increasing the holding to 12.4%.

Finance - Mon, June 9, 2025 | 11:43 am GMT+7

Fund manager Eastspring Vietnam appoints new CEO

Fund manager Eastspring Vietnam appoints new CEO

Eastspring Vietnam, one of the largest fund managers in the country by assets under management, last Friday appointed Nguyen Quoc Dung as its new CEO and legal representative.

Finance - Mon, June 9, 2025 | 9:03 am GMT+7

U.S. Grains Council signs 5-year cooperation deal with Vietnam

U.S. Grains Council signs 5-year cooperation deal with Vietnam

The U.S. Grains Council (USGC) on Friday signed a five-year cooperation agreement with the Partnership for Sustainable Agriculture in Vietnam (PSAV), reaffirming its long-term commitment to Vietnam’s agricultural development.

Economy - Sun, June 8, 2025 | 5:13 pm GMT+7

Bamboo Capital announces senior personnel changes

Bamboo Capital announces senior personnel changes

Under a board of directors resolution effective last Friday, Vietnam's multi-sector conglomerate Bamboo Capital Group has a new deputy general director, while its first vice chairman Pham Minh Tuan resigned to focus on subsidiary Bamboo Energy.

Companies - Sun, June 8, 2025 | 4:05 pm GMT+7

Vietnam signs deals to import nearly $3 bln worth of US agricultural products

Vietnam signs deals to import nearly $3 bln worth of US agricultural products

Vietnamese businesses accompanying Minister of Agriculture and Environment Do Duc Duy on a six-day visit to the U.S. signed multiple agreements to import nearly $3 billion worth of American agricultural products, expanding bilateral cooperation in the agricultural sector.

Economy - Sun, June 8, 2025 | 10:33 am GMT+7

EPC contract signed for O Mon IV thermal power project in southern Vietnam

EPC contract signed for O Mon IV thermal power project in southern Vietnam

An EPC contract signing ceremony for the O Mon IV thermal power project in Can Tho city took place on Friday, at the headquarters of state-owned Petrovietnam - the investor.

Energy - Sun, June 8, 2025 | 8:00 am GMT+7

Vietnam's agri major Hoang Anh Gia Lai ventures into mulberry cultivation, coffee production

Vietnam's agri major Hoang Anh Gia Lai ventures into mulberry cultivation, coffee production

After overcoming two major obstacles - debt and accumulated losses - Vietnam's agri major Hoang Anh Gia Lai JSC (HoSE: HAG) is charting a bold five-year strategic roadmap, introducing two new business segments: mulberry cultivation and coffee-tea production.

Companies - Sat, June 7, 2025 | 4:35 pm GMT+7

Stock trading accounts hit 10 mln in Vietnam

Stock trading accounts hit 10 mln in Vietnam

Vietnam recorded a large increase in the number of stock trading accounts in April and May, when the U.S. tariff turbulence caused strong market fluctuations.

Finance - Sat, June 7, 2025 | 3:38 pm GMT+7

Thailand’s SCG books $301 mln in Q1 sales from Vietnam

Thailand’s SCG books $301 mln in Q1 sales from Vietnam

Siam Cement Group (SCG) reported sales of VND7.77 trillion ($301 million) in Vietnam in Q1/2025, reflecting the country as a key market for the Thai conglomerate in Southeast Asia.

Companies - Sat, June 7, 2025 | 9:54 am GMT+7

Vietnam’s energy firm identifies 3 emissions violations among Vietnamese enterprises

Vietnam’s energy firm identifies 3 emissions violations among Vietnamese enterprises

Looking ahead, 2030 is a milestone year, as major global brands such as Unilever, Nestlé, H&M, and Nike have committed to cutting Scope 1 and Scope 2 emissions by 50-65%, said Pham Dang An, CEO of Vu Phong Energy Group, a major developer of clean energy in Vietnam.

Companies - Sat, June 7, 2025 | 8:00 am GMT+7

Deal acquiring financial firm of Vietnam's SeABank invalid: Aeon Financial

Deal acquiring financial firm of Vietnam's SeABank invalid: Aeon Financial

Aeon Financial Service Co., Ltd. on Friday stated that its deal to purchase a financial company owned by Vietnam's SeABank is invalid due to "inappropriate accounting transactions."

Finance - Fri, June 6, 2025 | 11:57 pm GMT+7

VSAP LAB to build $69 mln chip packaging tech laboratory in central Vietnam

VSAP LAB to build $69 mln chip packaging tech laboratory in central Vietnam

Vietnamese private firm VSAP LAB JSC has been approved as the investor of a VND1.8 trillion ($69.11 million) advanced packaging technology laboratory project that will assist semiconductor production in the central city of Danang.

Industries - Fri, June 6, 2025 | 8:11 pm GMT+7

Vietnam's major property developer Hoang Huy successfully raises $30.7 mln from parent company

Vietnam's major property developer Hoang Huy successfully raises $30.7 mln from parent company

Hoang Huy Investment Services JSC (HoSE: HHS) has successfully issued 64 million shares for VND800 billion ($30.7 million) via private placement to its parent company – Hoang Huy Financial Services Investment JSC (TCH).

Companies - Fri, June 6, 2025 | 3:32 pm GMT+7

Subsidiaries, affiliates likely not to enjoy preferential corporate income tax in Vietnam

Subsidiaries, affiliates likely not to enjoy preferential corporate income tax in Vietnam

Subsidiaries and affiliates of enterprises in Vietnam might not be eligible for preferential corporate income tax (CIT) rates of 15-17%, in order to prevent abuse of incentives like splitting income for tax avoidance, according to the Financial and Economic Committee under the National Assembly, the country's legislature.

Finance - Fri, June 6, 2025 | 3:22 pm GMT+7

VPS Securities JSC named Vietnam’s best broker again by The Asset

VPS Securities JSC named Vietnam’s best broker again by The Asset

VPS Securities JSC (VPS) has once again been honored as the “Best Brokerage House in Vietnam” at the Triple A Awards 2025, presented by The Asset, a leading Asia-focused financial publication.

Companies - Fri, June 6, 2025 | 11:40 am GMT+7