The company, whose shares trade under the ticker PNJ, announced a resolution approving the engagement of reputable international firms to independently assess its product quality and internal processes related to its business operations.

PNJ will conduct three independent assessments.

First, it will hire a reputable international inspection firm to examine and certify the quality of PNJ products, including diamonds and jewelry.

The company will also engage an independent auditing firm to audit its entire diamond process, from import and production to sales, including diamond-set jewelry.

A professional independent consulting firm will be hired to assess the company's risk management procedures.

PNJ has also announced a resolution approving guarantee agreements for bank loans to two subsidiaries, with a combined credit limit of about US$15.2 million.

Specifically, PNJ will guarantee a loan of up to about US$3.8 million for CAO Fashion One Member Company Limited, or CAF, from Vietcombank's Ho Chi Minh City Branch.

The company will also guarantee a loan of up to about US$11.4 million for PNJ Jewelry Production and Trading One Member Company Limited, or PNJP, from BIDV's Hoc Mon Branch.

CAF and PNJP are both PNJ subsidiaries.

PNJ shares fall sharply

On the stock market, PNJ shares have fallen sharply since mid-June following the launch of a criminal investigation into the smuggling of 28,000 diamonds and charges brought against several PNJ-Lab executives and employees.

On July 14, investigators brought charges against another PNJ-Lab employee as part of the transnational diamond-smuggling investigation.

PNJ shares fell from more than US$2.59 in mid-June to US$1.56 at the close of trading on July 16.

Duy Anh