Development firm posts losses

The Kinh Bac City Development Company (KBC) has recently announced its audited financial statement for the first six months of this year, revealing losses of VND70.75 billion (US$3.3 million), a surge of VND9 billion ($424,500) compared to the initial report.

The biggest change after the audit was the deferred corporate income tax in the first six months.

The company had reported its deferred tax at VND43.3 billion ($2 million), while the audit shows that the figure was just VND29.3 billion ($1.38 million).

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