MediaMart to be fined for violation
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| MediaMart launched its building without checking off the compulsory fire saftety test |
The Quang Ninh People’s Committee has just issued the decision to fine MediaMart Corporation's branch in the province for administrative violations after it put the building into operation without passing the pre-acceptance fire safety test.
Accordingly, MediaMart Corporation has been fined for VND80 million ($3,500) and was ordered to complete the pre-acceptance test for its supermarket at 849 Nguyen Van Cu Street, Hong Hai ward, Halong city.
There are around 108 points of sale in the MediaMart electronics network across North and Central Vietnam, with nine units in Quang Ninh province.
This electronics supermarket chain has opened nearly ten new stores in last January alone. Although the corporation is pouring a great deal into expanding its network, the chain reported very low profit margin. Its revenue in 2016-2017 was reported at VND5-5.2 trillion ($217-226 million) but pre-tax profit was estimated at only VND500 million ($21,700).
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