Dien Quang shares 'plummeted' after news that Deputy Minister Ho Thi Kim Thoa is at risk of losing her position.

The information about disciplining Ms. Ho Thi Kim Thoa was reported by the press late yesterday afternoon (July 31), but on the stock market, DQC shares fell sharply, losing 2,000 VND, equivalent to 4.4%. Thereby, causing the Deputy Minister's family's stock assets to quickly "evaporate" nearly 24 billion VND in just 1 day.

The Central Inspection Committee proposed that Ms. Ho Thi Kim Thoa be considered for dismissal from the positions she is holding.

As reported, according to the conclusion of the Central Inspection Committee at the 16th session held from July 25 to 27, 2017, Ms. Ho Thi Kim Thoa was disciplined with a warning and was recommended to be considered for dismissal from her current positions.

The reason is that during her time holding the positions of Party Secretary, Director of Dien Quang Lamp Company, Party Secretary, Chairman of the Board of Directors, General Director of Dien Quang Lamp Joint Stock Company (from January 2004 to May 2010), Ms. Ho Thi Kim Thoa committed violations and shortcomings that were considered "serious".

Currently, Ms. Thoa is holding the position of Deputy Minister of Industry and Trade and although she is no longer involved in the management of Dien Quang Lamp Joint Stock Company, she still owns 1,686,415 DQC shares, accounting for 4.91% of the company's charter capital.

Information about disciplining Ms. Ho Thi Kim Thoa was reported by the press late yesterday afternoon, but on the stock market, DQC shares fell sharply, losing 2,000 VND, equivalent to 4.4%, to 43,500 VND/share.

With the above unfavorable developments, the Deputy Minister's personal stock assets "evaporated" 3.4 billion VND in just a few hours.

Although no longer involved in the management of Dien Quang Electric Bulb Joint Stock Company, Ms. Thoa still owns 1,686,415 DQC shares, accounting for 4.91% of the company's charter capital.

In addition, at Dien Quang Electric Bulb, other members of Ms. Ho Thi Kim Thoa's family also hold shares and hold many important positions. Specifically, Mr. Ho Quynh Hung (Ms. Thoa's younger brother) is Chairman of the Board of Directors and General Director; Ms. Nguyen Thai Nga (Ms. Thoa's daughter) is a member of the Board of Directors and Deputy General Director; Ms. Nguyen Thai Quynh Le (Ms. Thoa's daughter) is the Project Director of this company.

The number of DQC shares that Deputy Minister Ho Thi Kim Thoa's family owns at Dien Quang Electric Bulb is 11,782,431 units, equivalent to 34.57% of charter capital. Thus, in today's trading session, Ms. Thoa's family's stock asset loss is 23.56 billion VND.

Over the past month, DQC shares have decreased by 7,000 VND per unit, equivalent to a loss of 13.86%. The price has even decreased by 34,100 VND compared to August 1, 2016.

Thus, the assets of Ms. Ho Thi Kim Thoa's family through holding DQC shares have decreased by 82.5 billion VND within 1 month and nearly 402 billion VND within 1 year.

The fact that a deputy minister holds a "floating" asset of up to hundreds of billions of dong inevitably makes public opinion wonder. In an interview with the press, Ms. Ho Thi Kim Thoa once affirmed that she declares her assets every year according to the law. However, according to the assessment of the Central Inspection Committee, "for a long time, Ms. Thoa has repeatedly declared her assets and income incorrectly and incompletely according to the regulations on asset and income declaration, violating the regulations on things that party members are not allowed to do."

Another reason for DQC shares' plunge in today's trading session could also stem from the declining business results in the first half of 2017. Specifically, in the first 6 months of the year, Dien Quang Electric Bulb achieved 418.3 billion VND in net revenue; 61.7 billion VND in consolidated profit before tax and 50.4 billion VND in consolidated profit after tax, down 6.6%; 53.5% and 52.8% respectively compared to the same period.

The company said the decline in production and business activities was due to reduced revenue, increased costs, and the disappearance of financial revenue from Cuban customers.

According to Dan Tri