Ms. Cao Thi Ngoc Dung: PNJ has enough resources to purchase diamonds as committed

After the leader of the P-Lab testing subsidiary was arrested for being involved in a diamond smuggling ring, many people flocked to the stores of Phu Nhuan Jewelry Joint Stock Company (PNJ) to resell their purchased products. Noted by VnExpress From yesterday, more than a dozen customers brought it to sell at the PNJ Next store on Hai Ba Trung street.

In a letter to shareholders on the evening of July 3, Ms. Cao Thi Ngoc Dung, Chairman of the Board of Directors of PNJ, said that this enterprise has a safe and sustainable financial foundation. The company always has backup financial resources and is accompanied by financial partners. “We believe we have enough resources to cope with this situation,” Ms. Dung emphasized.

PNJ leaders said they will respect the investigation process and are proactively reviewing related processes and fully coordinating with authorities when requested. Currently, the company has suspended Mr. Dang Ngoc Thao’s position as P-Lab director and appointed new personnel to run this business.

The head of PNJ affirmed that customers’ interests are always put first and commitments on quality, price, and purchasing are always guaranteed. “PNJ’s after-sales policies are still implemented in accordance with the regulations and policies applicable to each product line. We are responsible for the products the company provides to the market,” Ms. Dung said.

PNJ leaders said that the source of diamonds the company is doing business includes diamonds imported officially and diamonds purchased according to commitments with customers. All loose diamond products sold by the company are certified by the Gemological Institute of America (GIA). In some cases, if you want additional independent testing from P-Lab, you will be issued an additional certificate from this unit.

“Currently, the records of the products that P-Lab has tested are stored. Therefore, if customers want to check, the company can retrieve all the parameters. The company’s policy has not changed. No matter how the company purchased before, it will still do so,” she affirmed.

Today, at PNJ store Next Hai Ba Trung, customers still have to get a waiting number to sell. The number of customers coming to do transactions is not as large as on July 3. Staff said they can handle guest requests during the day.

Quynh Anh (old Binh Thanh district) decided to sell her diamonds even though she lost 20-25% of the value compared to when she bought them, not because she needed money, but because she was worried about product quality.

“Wear diamonds because they look beautiful and luxurious. But now the real and fake ones are mixed together, and the quality is unknown, so I no longer want to keep them,” she said.

About a month earlier, she also sold off a number of large diamonds after continuous controversies appeared on social networks about the diamond quality of some domestic brands.

Not only Quynh Anh, many diamond holders are also wondering whether to sell at this time. Talk to VnExpressMs. Nguyen Thi Thu Huong, FIDT financial advisor, said that before evaluating whether selling diamonds is reasonable or not, investors need to answer an important question: Are we selling because of real financial needs or because of crowd psychology.

If you sell to restructure your portfolio, take profits, or move to another pre-planned financial goal, it is a completely reasonable decision. However, if the reason is concern that the price will continue to fluctuate or seeing many people bringing diamonds to sell so they want to “get rid of goods”, experts say investors need to be calmer.

“Investment history shows that decisions based on the crowd effect often cause investors to miss opportunities or sell assets at suboptimal times,” Ms. Huong said.

According to experts, investors also need to pay attention that the current diamond market is very clearly differentiated. Natural diamonds with international certification, high quality and large sizes are still able to keep their prices well. Meanwhile, the small segment, especially artificial diamonds, is under strong pressure to reduce prices due to increasingly abundant supply.

On the evening of July 2, Thanh Hoa Provincial Police coordinated with Ho Chi Minh City Police to announce that Mr. Dang Ngoc Thao, former Director of PNJ Inspection Company Limited (P-Lab), was involved in the diamond smuggling case. According to the 2025 management report, Dang Ngoc Thao is her younger brother Dang Thi Lai, Member of PNJ Board of Directors and currently holds the position of President of P-Lab.

After the above information, PNJ shares decreased all the way to 58,700 VND right after opening trading session on July 3. This is the lowest level in nearly 7 months. This code often falls into a “white” situation on the buying side, meaning investors place sell orders but no one absorbs them.

In a recent report, Yuanta Vietnam Securities said that although PNJ announced this was a “personal liability” and the retail system still operated normally, the incident revealed shortcomings in the internal control system of the subsidiary 100% owned by PNJ.

“The fact that a senior leader of the appraisal unit can manipulate the certification for a long time without being detected by the system shows that governance risks still exist,” this analysis group stated.