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LGC: Explanation for business activities of quarter 3/2008
Below is explanation of Lu Gia Mechanical Electric Joint Stock Company (LGC) for its business activities in quarter 3/2008:
1. Balance sheet
* Short term receivable: increased by 648.83 % at the end of the period since LGC has issued invoice of 24.3 billion dongs for the project for lighting systems for Lien Khuong – Prenn mountain pass (phrase 1 was checked and took over), and transfer of land and house using right in Tan Binh IP, but has not yet receive payment.
* Inventories: increased by 159% against the beginning of the period because some projects for lighting systems have not been checked and took over yet, of which the project for Lien Khuong – Prenn mountain pass accounted for 50% of the increasing inventories.
* Capital construction in progress: up 143.5% because the two projects for office building (LuGia Plaza) and new factory in Nhon Trach IP are in progress.
* Owners’ equity: At the beginning of the period, owners’ equity is 46 billion dongs of which 16 billion dongs is joint-venture capital contributed by Ho Chi Minh City Infrastructure Investment Joint Stock company. At the end of the period, the contributed capital was transferred to “Other payable” account, so “Owners’ equity” is exact amount of Chartered capital of 30 billion dongs.
2. Income statement
* Profit of quarter 3/2008 increased irregularly because the transferring of land and house using right in Tan Binh IP has been recorded as revenue and calculated profit accordingly.
HoSE
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