PHI Group Inc (PHIL): As I was saying before, even if there ar...

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Saturday, 10/02/2021 12:15:00 PM

Saturday, October 02, 2021 12:15:00 PM

As I was saying before, even if there are New Vinafilms JSC revenues disclosed, they cannot be used for share buyback and I have the proof. So let go of that folly. Vietnamese Law on Enterprises 2014,[2] states:

“Subsidiary companies are not permitted to invest in contribution of capital to or purchase of shares of the parent company. Subsidiary companies of the same parent company are not permitted to jointly contribute capital or buy shares in other to have mutual cross-ownership."

More here:

https://apolatlegal.com/articles/cross-ownership-between-parent-subsidiary-companies-in-vietnam.html

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Recent PHIL News

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