Editor’s Note
PNJ’s board has approved a policy to engage independent international labs for diamond quality assessment, aiming to enhance oversight across the entire supply chain from import to retail.
TPO – The Board of Directors of Phu Nhuan Jewelry Joint Stock Company (PNJ) has just approved a policy to hire independent international testing units to evaluate the quality of diamond products, thereby strengthening the entire process from import to production.
The PNJ Board of Directors also approved a policy to conduct an independent audit of the entire process, from import, purchase, and manufacturing to the commercialization of diamonds, including diamond-set jewelry products.
Additionally, PNJ has approved a policy to hire a tax audit firm for 2025 and to provide tax consulting services to the company.
Specifically, independent international testing units will be hired to inspect and certify the quality of PNJ products (including diamonds and jewelry). PNJ will engage international organizations to independently evaluate diamond quality and review the entire commercial process related to diamonds.
The evaluation scope is expected to cover virtually the entire operational chain related to PNJ’s diamond business, from diamond sourcing, acquisition, and processing to product distribution.
In recent days, PNJ’s stock price has fallen continuously. Furthermore, the case of smuggling over 28,000 diamonds continues to develop: a diamond inspector from PNJ Appraisal Company Limited (P-Lab Company) has been prosecuted and temporarily detained.
In connection with the case, after Mr. Dang Ngoc Thao, former director of P-Lab Company, was arrested by Thanh Hoa Provincial Police for his involvement in a transnational diamond smuggling network, on July 14, Thanh Hoa Provincial Police continued to prosecute Ms. Tran Tien Nhu Nghi, an inspector at P-Lab Company.
The incident caused PNJ’s stock price to plummet. On July 16, the stock lost 6.3% of its value, falling to 40,900 VND per share, its lowest level in nearly 5 years, and had plunged up to 35% over 10 trading sessions.
PNJ shares have been consistently sold at net prices by foreign investors, with a volume of approximately 10.8 million units, equivalent to a value of about 465 billion VND over the past month.
Source: https://tienphong.vn/pnj-se-thue-don-vi-quoc-te-kiem-dinh-doc-lap-ve-kim-cuong-post1860261.tpo
