The Vietnam Resurrection Health Joint Stock Company (NHV) was recently fined 367.5 million VND by the State Securities Commission for numerous violations of information disclosure and corporate governance. Notably, the company advanced 95.6% of its total assets (54.16 billion VND) to CEO Lưu Quang Thịnh for financial investment without the consent of the shareholders’ meeting. This action violates regulations on transactions with company managers and reveals a lack of internal control. The company failed to disclose several important documents, including financial statements and governance reports, leading to inconsistencies in reported profits. NHV also provided misleading information and lacked transparency, exemplified by an 18 billion VND advance not included in the 2020 governance report. The Commission requires the company to rectify these violations and publicly disclose complete information to ensure transparency.
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