TLC: Explanation for loss in Quarter III/2008

Thang Long Telecommunications JSC explanation for the loss in Quarter III/2008 as follows:

In Quarter III/ 2008, the Company suffered a loss because of the following reasons:

-        QIII/2008 was a hard time for all enterprises due to price fluctuation on the market, high inflation, sharply fluctuation of USD/VND exchange rate. The state has implemented tight monetary policy and investment curb, making narrow the market and increase competativeness.

-        In this quarter, the company continued to sell cable in stock to withdraw the capital.

-        Workshop, machinery and equipment invested in new business lines have not been working at full capacity, thus fix assets was allocated with a large amount.

-        Expenses for transportation increased because of higher petrol price.

-        Due to tight monetary policy, debt withdrawal met with difficulties causing the bank interest cost increase.

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