International Milk Company Lof (IDP) has been fined a total of 185 million VND by the State Securities Commission for various violations in the securities sector. Specifically, the company was fined 77.5 million VND for failing to report information about its shareholder structure and not notifying that it did not meet public company criteria within the required timeframe. Additionally, Lof was fined 85 million VND for failing to timely disclose financial reports for Q2 and Q3/2023 and the 2023 annual report. The company was also fined 22.5 million VND for not clearly disclosing the salaries of board members and the CEO in its financial statements and failing to report this at the regular annual shareholders’ meeting in 2024. After reporting losses in Q2, the company has changed its CEO.
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