HVG: Loss in Q2/2010

Hung Vuong Corporation has explained loss of VND3,961,304,276 in Q2/2010 as follows:

In April and My 2010, business situation of the company had many difficulties due to shortage of electricity. Using electric generator was very expensive in comparison with the common electricity. Thus, selling price in Q2 rapidly increased compared to Q1. This was the main reason causing loss in Q2/2010.

In Q2/2010, a plant of the company was suspended for new investment. It has not been depreciated yet. New investment led to high expenses, but there were no sales for compensation.

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