SC5: Additional explanation for business result in Q3.2013 Construction Joint Stock Company No 5 has given further explanation for business result in Q3/2013 as follows:
1.
Detailed explanation for assets invested in Bay Water Co., Ltd.
-
Construction Joint Stock Company No 5 has signed a business
cooperation contract with SATO Investment Co., Ltd. in the form of capital
contribution on March 17, 2008 to implement the gentrification project for Thu
Thiem bridge area in Nguyen Huu
Canh Street, Ward 22, Binh Thanh District. Project
scale includes “The business project” and “The settlement project”.
-
Construction Joint Stock Company No 5, SATO Investment Co.,
Ltd and Bay Water Co., Ltd.
valued assets to invest in Bay Water Co., Ltd. at VND1,019,000,000,000.
-
Until September 30, 2013, the asset value of the business project, which was formed by
investment costs, was temporarily computed at VND816,450,624,087.
-
Therefore,
an increased amount of
assets revaluation reverse of the business project was VND202,549,375,913.
-
The
profit of this project is the total revenue, incomes (including the increased amount of assets revaluation reverse)
deducting the total actual costs. The accumulated items from the date of
signing of business cooperation contract until September 30, 2013 are as
follows:
|
Total
incomes
(including assets revaluation reverse)
|
VND1,021,162,070,301
|
|
Total
actual costs
|
VND823,243,963,765
|
|
Total
accumulated profit until September 30, 2013
|
VND197,918,106,536
|
-
According
to the contract, the profit of Construction Joint Stock Company No 5 and SATO
Investment Co., Ltd. was divided as follows:
+
Construction
Joint Stock Company No 5: VND
98,959,053,268
+
SATO
Investment Co., Ltd.: VND 98,959,053,268
Consequently,
other incomes in the Q3/2013 income statement were VND105,443,453,027, in
which:
|
Assets
revaluation reverse
|
202,549,375,913
|
|
Temporary profit allocation to SATO Investment Co., Ltd.
|
98,959,053,268
|
|
Other income
|
1,853,130,382
|
2.
Explanation for information disclosure:
-
Construction
Joint Stock Company No 5 and SATO Investment Co., Ltd. established a two-member
limited liability company to restructure the gentrification project for Thu
Thiem bridge area in Nguyen Huu Canh Street, Ward 22, Binh Thanh District with
the rate of capital contribution of 50% for each party.
HOSE
|
