HCMC bourse CEO Le Hai Tra expelled from Party
Chairman of State Securities Commission Tran Van Dung was removed from all positions in the Party, while CEO of Ho Chi Minh Stock Exchange Le Hai Tra was expelled from the Party on Wednesday.
Tran Van Dung, Chairman of State Securities Commission. Photo courtesy of the commission.
Apart from disciplining the two, the Central Inspection Committee warned Vu Bang, former chairman of State Securities Commission (SSC); Nguyen Thanh Long, secretary of Hanoi Stock Exchange’s Party Committee and board chairman of Vietnam Stock Exchange; and Nguyen Son, chairman of Vietnam Securities Depository Center’s board of directors.
In 2017, Dung, 57, held the position of SSC chairman after being the board chairman of Ho Chi Minh Stock Exchange (HoSE). Tra, 48, used to work at the SSC’s market development department.
Le Hai Tra, CEO of Ho Chi Minh Stock Exchange. Photo courtesy of the bourse.
The committee in late March stated that the SSC’s Party Committee in the 2015-2020 term lacked responsibility, showed loose leadership, and lacked inspection and supervision, giving rise to some organizations and individuals "breaking the law, manipulating the market, and gaining illicit profits".
The disciplinary action took place in the context that the Ministry of Public Security was investigating a series of violations in securities trading and intentionally disclosing work secrets that occurred at the SSC.
The ministry's investigative agency in late March arrested former FLC Group chairman Trinh Van Quyet for stock market manipulation. A month later, Do Duc Nam, general director of Tri Viet Securities, and Do Thanh Nhan, chairman of Louis Holdings, were arrested on the same charge.
The agency in late April detained Nguyen Hung, deputy director of the SSC’s securities market supervision department, to investigate the act of deliberately disclosing work secrets.
- Read More
Vietnam factory activity returns to growth on new orders: S&P
The Vietnamese manufacturing sector returned to growth in April as a solid expansion of new orders fed through to a renewed increase in production, according to S&P Global.
Economy - Thu, May 2, 2024 | 9:25 am GMT+7
HCMC well off target of 8 metro lines by 2035
Vietnam’s southern economic hub Ho Chi Minh City seems to be falling well short of its goal of building eight metro lines totaling 200 kilometers by 2035 because none have been put into operation thus far.
Infrastructure - Thu, May 2, 2024 | 9:14 am GMT+7
Vietnam property market past most difficult period: expert
The Vietnamese real estate market has gone through its most difficult period, and businesses or investors that have survived have done so through strong experience and resources, said Nguyen Van Dinh, chairman of the Vietnam Association of Realtors (VARS).
Real Estate - Thu, May 2, 2024 | 8:17 am GMT+7
Seven must-visit places in Dien Bien province
The northwestern mountainous province of Dien Bien has many charming places to visit, in addition to historical relic sites related to the Dien Bien Phu Campaign.
Travel - Wed, May 1, 2024 | 10:42 pm GMT+7
Vietnam's economy: positive changes but concerns persist
Vietnam's economic picture is looking more positive with numerous bright spots, but many difficulties remain, especially market confidence, concerns about private investment, and social consumption, writes Dr. Vo Tri Thanh, director of the Institute for Brand and Competitiveness Strategy.
Opinion - Wed, May 1, 2024 | 6:32 pm GMT+7
Major industrial park developer Kinh Bac suffers setback with $3 mln Q1 loss
Vietnamese industrial park developer Kinh Bac Urban Development Corporation recorded Q1/2024 losses of VND76.7 billion ($3 million), a setback considering its annual profit target of VND4,000 billion ($157.8 million).
Industrial real estate - Wed, May 1, 2024 | 3:51 pm GMT+7
Founder of Vietnam’s ACB bank passes away
Asia Commercial Bank founder Tran Mong Hung, father of the current chairman Tran Hung Huy, passed away Thursday. He was 72.
Banking - Wed, May 1, 2024 | 3:37 pm GMT+7
Singapore Management University opens office in HCMC
Singapore Management University (SMU) has chosen to open a representative office in Vietnam after Indonesia and Thailand as part of its vision to 2025.
Companies - Wed, May 1, 2024 | 3:18 pm GMT+7
Exhibition displays 300 artefacts of Dien Bien Phu Campaign
The thematic exhibition named "Dien Bien Phu Victory - An Eternal Epic" showcases some documentaries and artefacts for the first time to the public about Dien Bien Phu Campaign.
Travel - Wed, May 1, 2024 | 3:02 pm GMT+7
Six dead as boiler explodes at southern Vietnam wood factory
Six persons including a Chinese national died and five others were injured after a boiler exploded Wednesday morning at a wooden products factory in Vinh Cuu district, Dong Nai province.
Society - Wed, May 1, 2024 | 2:55 pm GMT+7
Trungnam Group eyes green energy development in Ninh Thuan province
Private Vietnamese conglomerate Trungnam Group plans to develop a green energy complex with an expected green hydrogen capacity of 824,400 tons per year in the south-central province of Ninh Thuan.
Energy - Wed, May 1, 2024 | 11:37 am GMT+7
S Korea's Jeil E&C to invest $35 mln in southern Vietnam high-tech logistics project
Jeil E&C, a major South Korean construction-real estate business, will invest $35.4 million in a high-tech logistics project in Dong Nai province - an industrial hub in southern Vietnam.
Industries - Wed, May 1, 2024 | 9:34 am GMT+7
Brewer giant Habeco posts biggest quarterly loss in 4 years
Habeco, among the top four brewers in Vietnam by market share, suffered a net loss of VND21 billion ($828,570) in the first quarter of 2024, up nearly sixfold from the same period last year.
Companies - Wed, May 1, 2024 | 7:00 am GMT+7
Retailer Mobile World Q1 profit rises 43 times after reshuffle
Mobile World Investment Corporation (MWG) reported an after-tax profit of nearly VND903 billion ($35.63 million) in the first quarter of 2024, a 43-fold increase year-on-year, according to the company’s financial statements.
Companies - Tue, April 30, 2024 | 9:09 pm GMT+7
Vietnam welcomes 6.2 mln foreign arrivals in Jan-Apr, 3.9% above pre-pandemic level
Vietnam welcomed over 6.2 million foreign tourists in the first four months of this year, up 68.3% year-on-year, the General Statistics Office reported.
Travel - Tue, April 30, 2024 | 3:32 pm GMT+7
April 30 Victory – Glorious milestone in national history
The Liberation of the South Day (April 30) is an occasion of great significance for all Vietnamese people.
Politics - Tue, April 30, 2024 | 3:10 pm GMT+7
