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

On 01/10/2012, Vinaconex Advanced Compound Stone JSC announces the explanation for audit exception in semi-annual financial statement 2012 as follows:

The company had a direct investment at Stylenquaza Company Ltd. – a joint- venture company established in America through Style Stone JSC – A subsidiary company of the Company (capital structure by 30/06/2012 : Vicostone owned 99.93% of Style Stone, Style Stone owned 48.97% of Stylenquaza). Because Stylenquaza Company Ltd . had just established and only prepared annual financial statement. By the time preparing the consolidated financial statement on 30/06/2012 and for the fiscal first 06 months period ended at the same day, the Company could not define the investment value of the a joint- venture company in the consolidated balance sheet as well as the profit/loss item of the a joint- venture on the consolidated semi-annual income statement by the ownership method. Therefore the Company recorded the indirect investment into this company in the consolidated semi-annual financial statement on 30/06/2012 and for the fiscal first 06 months period ended at the same day by the basis price method instead of the ownership method.

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