TRI: Tribeco faces delisting

On February 01, 2012, the Hochiminh Stock Exchange received the financial statements of Quarter 4/2011 of Sai Gon Beverages Joint Stock Company (TRIBECO). Accroding to the statements, TRIBECO lost in Quarter 4/2011 and had a loss of VND86.7 billion for the whole year 2011, and the owner’s equity at December 31, 2011 was -VND20.4 billion.

Therefore, basing on Article 21, Provision 1, Decree 84/2010/ND-CP ammending Article 14.1(dd) of Decree 14: “Stock will be delisted in the following cases: Business and production results suffered a loss for three consecutive years, or total accumulated losses exceeded equity in the financial statements of the most recent year prior to the date of consideration.”, if the owner’s equity at December 31, 2011 in the audited financial statements of 2011 of TRIBECO are still negative figures, the Hochiminh Stock Exchange will have to implement a mandatory delisting to TRIBECO.

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