Tuesday, 19/11/2013 10:01

KDH: Explanation forconsolidatedand parent company business result in Q3, 2013

Parent company’s and consolidated profit decreased more than 10% compared to the same period of 2012. Khang Dien House Trading and Investment Joint Stock Companyexplained as follows:

-         Khang Dien House Trading and Investment Joint Stock Company transferred total of 99.99% value of capital in Doan Nguyen House Investment Co., Ltd because:

+         Doan Nguyen Project has a large condominium area. It takes around VND1000 billion to complete while condominium inventory was very high in present. Therefore, this project will put the capital of the company under pressure.

+         Products of this project worth from VND4 to VND8 billion. Therefore, the project may be not feasible in the tough economy.

+         The transfer of this project leads to the decrease of interest expenses.

+         Total money from the transfer was invested in the new project at priority infrastructure area of District 9. This project could be implemented immediately. This project has a reasonable product price of VND2 billion.

HOSE

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