Son of Trung An Rice boss illegally traded stocks

The daughter of a member of the Board of Directors of Trung An Rice was fined and suspended from trading for 4.5 months for illegally buying and selling TAR shares.

The State Securities Commission has just issued a decision to impose an administrative penalty on Ms. Truong Kha Tu - daughter of Ms. Lu Le Tran, a member of the Board of Directors of Trung An High-Tech Agriculture Joint Stock Company (TAR). Ms. Tu did not report 5 transactions related to TAR shares that she made in 2021.

Specifically, this person bought more than 1.8 million TAR shares from May 18 to 24; bought 100,000 shares and sold 30,000 TAR shares from July 8 to 13, sold more than 1.9 million TAR shares from August 13 to 18, and sold 191,700 TAR shares on September 6.

For the above violations, the Securities Commission fined more than 431 million VND. In addition, Ms. Truong Kha Tu was also suspended from securities trading activities for 4.5 months.

According to the management report, by the end of June, Ms. Lu Le Tran owned 726 TAR shares (equivalent to 0.001%). She has been a member of the Board of Directors since May 2018.

Previously, Trung An's stock code was suspended from trading from October 30 due to late submission of separate and consolidated financial statements for the 2023 semi-annual period. Currently, TAR shares are trading around VND10,000 per unit, down more than half from the peak at the end of July.

Regarding business results, consolidated profit after tax in the third quarter increased nearly 15 times to about VND 12 billion. The reason is due to increased revenue from sales of goods and services and TAR receiving dividends and profits in 2022 from its subsidiary in Kien Giang .

Siddhartha

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