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TCT: Explanation for audit exception in semi-annual financial statement 2012
On 28/09/2012, Tay Ninh Cable Car Tour JSC announces the explanation for the audit exception in semi-annual financial statement 2012 as follows:
The investment to establish
Ninh Dien Tay Ninh Mineral Water JSC with the share capital was VND
1,500,000,000, which was 15% of the charter capital. However, Ninh Dien Tay
Ninh Mineral Water JSC dissolved on 29/05/2009 due to ineffective business, but
by 30/06/2012, the company had not finished the dissolving process. The company
set up the discount investment provision into Ninh Dien Tay Ninh Mineral Water
JSC based on the cautious principle, with the amount of VND 1,298,331,640 ,
which was estimated based on the investment loss into this company. It also
based on the inventory of the asset of VND 3,000,000,000. Because the provision
was estimated so it still had uncertainties and the audit exception reflected
exactly the finance situation of the company by 30/06/2012.
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