VES: Explanation for Q2/2012 business result
Meca Vneco Investment and Electricity Construction Joint Stock Company gave reasons explaining the loss in Quarter 2/2012:
- The Company finished building the foundation of Playcu – My Phuoc – Cau Bong 500kV transmission line project, but the parent company has not signed price bills, so the Company has not recorded revenue. - The Company is implementing Phu My – Song May 500kV transmission line and 220kV line to connect to Song May 500kV station. - The loan interest rates for 277 Binh Dong station and Saigon Green hotel projects are high.
- The Company finished building the foundation of Playcu – My Phuoc – Cau Bong 500kV transmission line project, but the parent company has not signed price bills, so the Company has not recorded revenue.
- The Company is implementing Phu My – Song May 500kV transmission line and 220kV line to connect to Song May 500kV station.
- The loan interest rates for 277 Binh Dong station and Saigon Green hotel projects are high.
HOSE
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