VSD: Buying Orders from SME Cancelled

Phuong Hoang Lan Huong, deputy CEO of VSD told the newspaper that the cancelled orders are estimated at VND1.5 billion.

Huong said “we had tough measures with SME to prevent this situation. I am not in the office now therefore VSD cannot make public announcement.  VSD soon announce details of the case to the public”.

 Dau Tu Chung Khoan quoted a source from VSD as saying that as of Nov 1, 2011 SME failed to settle outstanding bids.

The State Securities Commission told the newspaper that it is waiting for SME’s explaination.

As of September 30, 2011, SME had cash and cash equivalent of VND7.74 billion including VND6.3 billion from investors; receivables of VND666 billion and payable of VND600 billion.

SME had VND54.43 billion worth of securities under mark-to-the-market including VND4.32 billion listed shares and VND50.1 OTC shares.