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HTI: 2011’s first half Audited FS explanation
IDICO Infrastructure Development Investment JSC (Idico-Idi.JSC) has explained the provision in the audited six months financial statement (FS) (HOSE: HTI) as follows:
- In the first audited six months of 2011, other long term investment by VND108,757,715,500. These were investment to stocks of IDICO Srok Phu Mieng Hydro Power JSC and Import-Export, Processing-Production and Packaging JSC. Because two companies were unlisted on stock exchange, the company should determined the price made the discount provision for the average price of three companies at June 30, 2011:
+ The average price of IDICO Srok Phu Mieng Hydro Power JSC was VND23,667/share lower than the price had investment. Wherefore, companies should have the discount provision of difference between investment value and the value at June 30, 2011 was VND14,460,833,800
+ The average price of Import-Export, Processing-Production and Packaging JSC was VND16,167/share, higher than the price had investment. Wherefore, companies should have not the discount provision for investment in shares
- This provision was appropriate under the guidance of Circular letter No.228/2009/TT-BTC dated December 07, 2009, No.2143/UBCK-QLPH.
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