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HPS: Explanation for the reviewed FS of 2013
In August of 2013, Hoa Phat Construction
Stone JSC explained for the reviewed FS of 2013 as follows:
1.
Company: Hoa Phat Construction Stone JSC
2.
Stock code: HPS
3.
Address: No. 185
Le Trong Tan, Da Nang
4.
Tel: 0511
3683309
5.
Fax: 0511
3683647
6.
Disclosure:
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Legal representative:
Mr. Phuong Van Thanh – Director
7.
Content::
7.1. Reviewed FS of QII.2013 made on 21/08/2013 include:
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Accounting balance sheet
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Report on operating result
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Report on cash flow
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Present the financial statement
7.2. The content of
explanation: reason for decrease in profit compared to the same period of 2012
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The yield of QII.2013 decreased strongly compared to the
same period of previous year the products continuously cannot be sold from 2012
to present
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Profit lost because of moderate production
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At the reviewed FS No. 836/BCKT-AAC on 21/08/2013, the
auditor give the exception opinion, according to that, the Company has the
explanation as follows:
· About the Company did
not make the provisions for impairment value of inventories, because of the
delayed consumption, moderate production from the middle end of 2012 until
present, and the sale price has just decreased since the beginning of March of
2013
· About the land rent
does not reflect to the operating result off the respective term because the
land rent of the contract No. 172 increase more than 4 times compared to the
previous contract so the Company are asking Da Nang People’s Committee to
adjust the price
· About the
depreciation for certain tangible assets, lead to the missing when recorded the
depreciation to the operating result. Because of the large number of
inventories, the Company has stopped producing for a period so does not
depreciate some stopped equipment.
8.
Website where the entire FS was posted: dahoaphat.com.vn
9.
We warranty that the published information above is true and
we are fully responsible before the Law for the published information
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