VSG: Explanation for business result in Q3/2011

South Vietnam Container Shipping JSC (HOSE: VSG) has given reasons causing the fluctuation in profit between Quarter 3/2011 and Quarter 3/2010:

Unit: VND

Compared to Quarter 3/2010, the Company’s revenue in Quarter 3/2011 increased VND1.38 billion, equivalent to 5%, but the Company’s loss after tax increased VND3.04 billion, equivalent to 58.5%, because of the main reasons as follows:

Revenue:

Revenue from renting vessels increased VND0.7 billion because the average interbank exchange rate from US$ to VND in Quarter 3/2011 was higher than the rate in Quarter 3/2010

Revenue from renting offices increased VND0.66 billion, because in Quarter 3/2010 offices for rent were newly opened and did not attract many renters at that time

Profit after tax:

As foreign exchange rate went up, borrowing expense and exchange rate loss increased VND2.6 billion.

The cost of goods sold rose VND0.9 billion.

HOSE

>   SDH: Business operating explanation (27/10/2011)

>   SED: Business operating explanation (08/11/2011)

>   S99: Board Resolution (31/10/2011)

>   TRI: The record date for consulting shareholders (09/11/2011)

>   STG: Explanation for business results in quarter 3/2011 (31/10/2011)

>   PCG: Business operating results (28/10/2011)

>   DBC: Business operating results (28/10/2011)

>   SDA: Business operating results (28/10/2011)

>   LCS: Notice of record date for a ballot (31/10/2011)

>   TMC: Board Resolution (07/11/2011)