V21: Explanation for audit\u2019s notes in the reviewed financial statement of 2012

On 26/04/2013, Vinaconex 21 Joint Stock Company explained for audit’s notes in the reviewed FS of 2012, as follows:

+ Recording cost of some projects by revenue not real expense: This project has been finished; however, due to price adjustment it was not finalized. In 2012, investors only approved payment and price adjustment for each parts, hence revenue of the project still exists when investors approve the rest one. According to company’s calculation and estimation the value of approved payment for the rest one is equal to unfinished production and business cost of 2012 and part of additional cost until the project is finalized. Annual revenue of these projects is only 0.5 per cent of company’s revenue in 2012. Therefore, in 2012 the company determined that cost of these projects was equal to revenue (gross profit is equal to zero).

+ Note in VI.4.1 section in notes to financial statement of 2012: Office floor of company is in a 21-floor building of housing and leasing office project at Ba La. The project is unfinished, the company has just transferred apartment building and used office floor, the project is not finalized. To ensure reasonableness of cost, the company just estimated the value of office floor based on real cost in order to determine temporarily the annual value of asset depreciation.

HNX

>   V21: Change in business registration certificate (07/02/2014)

>   CTS: Financial Statement FY 2013 (07/02/2014)

>   IDV: Reviewed financial statement 2013 (holding company) (07/02/2014)

>   IDV: Financial Statement Quarter 1/2013 (holding company) (07/02/2014)

>   PVS: Financial Statement Quarter 4/2013 (holding company) (07/02/2014)

>   TAG: Change in Business Registration Certificate (06/02/2014)

>   DC4: Financial Statement Quarter 4/2013 (06/02/2014)

>   PLC: Financial Statement Quarter 4/2013 (holding company) (06/02/2014)

>   PGS: Financial Statement Quarter 4/2013 (holding company) (06/02/2014)

>   VIT: Financial Statement FY 2013 (06/02/2014)