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TLC: Explanation for audit exception in consolidated semi–annual Financial Statement
On 05/10/2012, Thang Long Telecommunications JSC explains the audit exception in the consolidated semi - annual financial statement 2012 as follows:
According to the Contract No. 02/TLT-Sam on 02/05/2007, the ratio of profit/loss dividend of shareholders was based on the capital share ratio of parties, the detail of capital share of the fiber cable workshop according to the financial statement of the fiber cable workshop was as below:
- Sacom Investment and Development JSC : 32%
- Sacom Plastic Corporation: 4%
- SAMETEL : 8%
- Sam Thinh JSC: 8%
- Alphanam Electric JSC: 48%
Hereby
+ Mobilization from employees : 14%
+ Alphanam Electric JSC: 34%
Because the AGM to divide loss based on the business collaboration contract of the fiber cable workshop had not carried out so by 30/06/2012, the estimated loss was VND 14,450,086,133. If the dividend was based on this loss then the profit after tax of Alphanam Electric JSC would decrease by 66% with the amount of VND 9,357,056,848, the payables for the shareholders of the fiber cable workshop would also decrease correlatively.
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