STT: STT faces delisting risk

According to Dispatch No.561 dated April 11, 2018, HOSE reminded Saigontourist Transport Corporation (STT) about the late disclosure of the 2017 audited financial statements. Until the present, HOSE has not received the statements from STT.

According to the Quarter 4.2017 consolidated financial statements of STT, the profit after tax in 2017 was -19.1 billion dongs and the accumulated profit until 31/12/2017 was -78.3 billion. Therefore, if STT’s audited consolidated profit in 2017 is negative, this will be the third year the Company has had the loss.

According to Point dd, Provision 1, Article 60, Decree No.58/2012/ND-CP, securities will be delisted if the listed firm has losses in three consecutive years or the total accumulated loss exceeds the paid-in charter capital in the last year prior to the time of review. Therefore, HOSE will implement procedure to delist the stock of STT if STT’s audited consolidated profit in 2017 is negative.

HOSE

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