GIL: Explanation for the Q4.2011 consolidated financial statements before & after audited

Binh Thanh Import Export Production and Trade Joint Stock Company (GILIMEX) has explained the difference in the Q4/2011 consolidated financial statements before and after audited as follows:

The 2011 consolidated financial statements of GILIMEX contained the consolidated financial statements of GILIMEX – PPJ (GILIMEX – PPJ is a subsidiary of GILIMEX because GILIMEX holds 53% of owners’ equity). However, the auditing firm did not agreed about that because, according to business Registration Certificate No.0310629775 of GILIMEX – PPJ, GILIMEX holds 53% on the charter capital of VND30 billion, while, according to Resolution No.33/ND–DHDCD dated 11/25/2011 by GILIMEX – PPJ approving the increase in charter capital from VND30 billion to VND130 billion, GILIMEX has to pay another VND53 billion to maintain the ownership ratio of 53%. Until December 31, 2011, GILIMEX just invested VND12 billion to GILIMEX – PPJ, accounting for 23.53%, and the remaining amount will be pooled in 2012. Therefore, the auditing firm did not consolidate the financial statements of GILIMEX – PPJ and the financial statement of the parent company.  

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>   KSD: Board resolution (17/03/2012)

>   PVE: Notice of record date for Annual General Meeting of Shareholders (17/03/2012)

>   PVA: Notice of record date for Annual General Meeting of Shareholders (17/03/2012)

>   OCH: Notice of record date for Annual General Meeting of Shareholders 2012 (17/03/2012)

>   QTC: Notice of record date for Annual General Meeting of Shareholders (17/03/2012)

>   BED: Notice of record date for Annual General Meeting of Shareholders (17/03/2012)

>   HHG: Notice of record date for Annual General Meeting of Shareholders (17/03/2012)

>   TMC: Board Resolution (17/03/2012)

>   LIG: Notice of record date for General Meeting of Shareholders (14/03/2012)

>   SDH: Notice of record date for Annual General Meeting of Shareholders 2012 (14/03/2012)