Stocks get the red card

March 30, 2011 | 11:21

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Five securities company stocks were put under warning status or under supervision yesterday by Hanoi Stock Exchange due to their loss performances.

illustration photo

They were Bao Viet Securities Corp. (BVS), Kim Long Securities Corp. (KLS), Viet Star Securities Corp. (SVS), Haiphong Securities JSC (HPC) and Saigon Maritime JSC (SHC).

The two major firms BVS and KLS announced losses for 2010 at VND93 billion ($4.5 million) and VND173 billion ($8.4 million), respectively. SVS posted losses at VND21 billion ($1 million), HPC VND49 billion ($2.4 million) and SHC VND60 billion ($2.9 million).

Particularly, SHC, which saw losses for two consecutive years after having VND3 billion ($145,000) in loss in 2009, had been put under supervision.

Under Hanoi Stock Exchange (HNX) listing regulations attached to Decision No.324/QĐ-SGDHN, the listing companies which suffer losses in the latest fiscal year will be put under warning status, while the ones having loss for the two consecutive latest years being put under supervision.

Stocks of supervised companies will be limited in the range of trading prices or trading time.

HNX said that warning and supervising periods would end when those companies overcame their current loss-making situations.

By Hai Linh

vir.com.vn

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