SDD: Explanation for audit exception in semi-annual financial statement 2012

On 01/10/2012, Song Da Assembly Construction & Investment JSC explains the audit exception in the semi-annual financial statement 2012 for not setting up the bad debt provision as follows:

1.     Explanation for the bad debt provision:

The company did not set up provision for the outstanding receivables of the last 2 years constructions because in June Quarter 2, the company completed the liquidation documents and drawing the balance sheet. For these receivables, the company defined that they could be recalled. The company will set up the bad debt provision in the end of the fiscal year by 31/12/2012 if these receivables still could not be recalled.

2.     Provision for decreasing stock price:

In the semi-annual report, because all the traded stock code were raised in June so the company would set up the provision by 31/12/2012.

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