FBT: FAQUIMEX faces delisting from HOSE

On February 18, 2013, the Hochiminh Stock Exchange received the Quarter IV/2012 financial statements of Ben Tre Forestry and Aquaproduct Import Export Joint Stock Company (FAQUIMEX). Accordingly, FAQUIMEX has a loss of VND35.25 billion in Quarter IV/2012 and an accumulated loss until now is VND280.472 billion, while its paid-up capital is VND150 billion. FAQUIMEX had losses in two consecutive years 2009 – 2010, and is being traded in the form of a controlled stock code.

Based on Point dd - Clause 1 - Article 60 of Decree No. 58/2012/ND-CP: “Stock will be delisted in the following cases: “Business and production results suffered a loss for three consecutive years, or total accumulated losses exceeded paid-up capital in the financial statements of the latest year prior to the date of consideration.”, if the Company’s accumulated loss is higher than its paid-up capital after the Company discloses the 2012 audited financial statements, the Hochiminh Stock Exchange will implement procedures to delist the stock FBT.

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