VSG: VSG likely to be delisted

On January 22, 2013, the Hochiminh Stock Exchange received the Quarter 4/2012 consolidated financial statements of South Vietnam Container Shipping Joint Stock Company (VICONSHIP SAIGON). According to the statements, the Company had a loss of VND19.84 billion in Quarter 4/2012, and an accumulative loss of VND140.51 billion until now. Therefore, the Company had losses in two consecutive years from 2010 to 2011, and its stock is being traded under supervision.

Pursuant to Point dd, Clause 1, Article 60, Decree 58/2012/ND-CP effective from September 15, 2012: “Stock will be delisted in the following cases: Business and production results suffered a loss for three consecutive years, or total accumulative losses exceeded equity in the financial statements of the most recent year prior to the date of consideration.”, the Hochiminh Stock Exchange will consider a mandatory delisting to VGS if South Vietnam Container Shipping Joint Stock Company continues suffering audited net loss in 2012 or its accumulative loss exceeds its equity. 

HOSE

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