{
  "id": 10360690,
  "title": "Vietnam jewellery giant PNJ forecasts loss after diamond scandal",
  "url": "https://urgent.news/2026/09/28/vietnam-jewellery-giant-pnj-forecasts-loss-after-diamond-scandal",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-28T04:13:48.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/international/asean/vietnam-jewellery-giant-pnj-forecasts-loss-after-diamond-scandal"
  },
  "original_language": "en",
  "account": "Vietnam's largest jewellery retailer, PNJ, expects a significant loss of 6.27 trillion dong (US$241 million) for 2026 and has slashed its revenue target for the year. The company is setting aside a provision of 7.07 trillion dong for potential losses due to a diamond-smuggling scandal. The scandal emerged after the detention of former head of PNJ's certification unit in a transnational diamond-smuggling probe. PNJ plans to propose cutting its revenue goal to 39.06 trillion dong, down from the previously stated 48.66 trillion dong. The company is also preparing to raise up to 8 trillion dong over the next three years to fund its turnaround and working-capital needs. PNJ is trying to rebuild customer trust and reshape its store network while dealing with weaker margins and challenging conditions in the diamond market.",
  "summary": "The firm faces financial fallout after a smuggling probe shook confidence in the diamond trade",
  "key_points": [],
  "editors_take": "PNJ's forecast loss and cut in revenue target signal a significant blow to the company's financials and reputation, as it tries to recover from a diamond-smuggling scandal and rebuild customer trust.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}