VSP: Explanation for negative profit in QIV- 2009 and 2009

VINASHIN Petroleum Investment and Transport JSC explained the negative profits in QIV/ 2009 and the year 2009 as follows:

- Profit from affiliated companies, especially Nam Viet seatransport Co., Ltd decreased.

- Global economic crisis.

- Shipping fee decreased more than 60% over that of 2008.

- Ship fleet has been undergone periodical repairing.

- In QIV/2009, difference in foreign exchange made the expenditure increase over VND 30 bil.

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