GBS: Explanation for change of over 10% in operating result in QIV.2011

According to the Financial Statement Quarter IV/2011, total accounting profit before tax is VND 2,058 million with an increase of 139% compared to Quarter IV/2011. Golden Bridge VietNam Securities JSC explained the increase in operating result in QIV/ 2011 as follows:

- Revenue from brokerage decreased by 161% because stock market got many difficulties and value of securities trading went down at the end of 2011.

- Revenue from securities investment and pooling increased.

- Write-back of provision for securities investment loss (VND 423,916,460) made increase proportional interest.

- In 2011, the Company established Ho Chi Minh branch which has operated stably and contributed to increase revenue.

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