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VND: Explanation for the loss in Audited Financial Statement Y2011 and Solution
On 11/04/2012, VNDIRECT Securities Corporation explained reasons for the loss in Audited Financial Statement Y2011 and Solutions as follows:
1. Reasons for the profit after tax of VND (-202,958,127,826)
- The stock market decreased dramatically, which caused revenue from main activities of the company such as brokerage, financial consultancy, seurities investment fell sharply. Total revenue of the Company in 2011 is VND276.645 billion, a decrease of VND194.103 billion compared to 2010.
- Operating expenses increased due to inflation, and economic recession.
- Because the price was in the down trend, the Company’s proprietary dealing was heavily affected.
2. Solutions: With the positive signals of the stock market in early 2012, the Company will try to overcome the consequences of 2011. When the losses are offset, the Company will report to the HNX to remove the stock VND out of alert as regulated.
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