The HCM Stock Exchange (HSX) and the Hanoi Stock Exchange (HNX) delisted 26 companies, with 438 million shares, in the first six months of this year. Twenty of these companies were delisted because they had suffered losses for at least three consecutive years recently and their losses had exceeded their capital. Among these companies, Vitranschart JSC (VST) was delisted on May 8. VST suffered a loss of 125 billion VND to 223.65 billion VND (5.73-10.2 million USD) between 2012 and 2014. This year, the company has reported a loss of 109 billion VND (5 million USD) so far. Huu Lien A Chau Corporation (HLA) was delisted from the HSX on February 12. Last year, the company posted losses of 656.42 billion VND (30 million USD), which exceeded its capital of 344.6 billion VND (15.8 million USD). Recently, HLA posted losses of 47 billion VND (2.15 million USD) for the second quarter, raising its total losses since last year to 916 billion VND (42 million USD). The rest of the delisted companies were voluntarily delisted or obligatorily delisted for delay in publishing their business results. Three companies – Minh Phu Seafood Corporation JSC (MPC), Ngo Han Wire JSC (NHW) and Saigon Beer Transportation JSC (SBC) – were voluntarily delisted from the HSX. MPC, with 70 million shares, worth 7.7 trillion VND (353.2 million USD), was delisted on March 31, while SBC was delisted on February 12 to help the firm adapt to the market conditions and comply with the restructuring policy. Two of 26 firms, Viet An Fishery JSC (AVF) on HSX and Vinh Sinh Minerals and Mechanics JSC (MAX) on HNX, were delisted as they failed to report their business results on the market. AVF was delisted on June 9 after the company was warned several times by the HSX over its delay in publishing its audit results for last year. According to the company's report, AVF suffered a loss of 892 billion VND (4.1 million USD) last year, turning its charter capital last year to a negative 368 billion VND (1.7 million USD). On the HNX, MAX was delisted at the end of June, following the company's negative business results since its listing in 2010. In 2013, MAX suffered a loss of 10 billion VND (458,715 USD). Most of delisted firms have been listed on the Unlisted Public Company Market (UPCOM) to ensure that the benefits of the shareholders are secure. For instance, AVF was listed on UPCOM for a starting price of 1,200 VND per share on June 18, just seven days after it was delisted from the HSX. VST was listed on the UPCOM by the HNX for 1,700 VND per share on June 10.-VNA