Monday, 20/08/2012 16:50

VSG: VSG likely to be delisted after the 2012 audited FS

On August 15, 2012, the Hochiminh Stock Exchange received the 2012 reviewed financial statements of South Vietnam Container Shipping Joint Stock Company (Viconship Saigon). Viconship Saigon’s loss after tax in the first six months of 2012 is VND23.45 billion, so its accumulated loss until the present is VND105.4 billion while its paid-in capital is VND110 billion. Thus, the Company had losses in two consecutive years 2010-2011 and is being traded as a controlled stock at present. With the current business situation and the difficulties of the shipping industry, the more likely Viconship Saigon will continue to lose in 2012.

-         Pursuant to the provisions of Section đ, Clause 1 of Article 60 of Decree No. 58/2012/ND-CP effective from 09/15/2012: "There are production and trade losses for 03 consecutive years or the total accumulated losses exceeds the paid-in capital in the audited financial statements of the year preceding the time of examination;", VSG will likely be de-listed after reporting the 2012 audited financial statements.

HOSE

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