Tuesday, 15/04/2014 09:11

DLR: Explanation for reason of stock under alert



On 08/4/2014, Da Lat Real Estate Joint Stock Company announced explanation for reason of stock under alert as follows:

Profit after tax of the holding company in 2013 was negative (VND -6,871,621,918) and undistributed profit after tax on 31/12/2013 in consolidated FS of the Company was negative (VND -6,603,753,062).

I/ Reasons:

Da Lat Real Estate Joint Stock Company operates business in 3 main fields:

1/ Real estate investment and business

Projects of the Company were stagnant and late for schedule because:

+ Local government adjusted investment guideline and policies;

+ Budget was not mobilized

+ There were not enough bylaw instruction documents;

+ Payment of investment relating to projects was delayed, which seriously influenced on financial balance for production, business activities of the Company.

2/ Construction activities

Revenue and profit decreased because:

+ Projects were stagnant and late for schedule;

+ Public investment was cut down so revenue from receiving tender decreased;

3/ Production and business of construction materials

+ Revenue and profit from production and business of construction materials often connect with mineral exploitation certificate of State authorities; however, legal documents were lately issued, administrative procedures took long time while the Company still had to pay depreciation of equipment and machines, interest expense and administrative expense.

+ Construction market went down seriously so inventory increased highly, competition became more fiercely. The Company also had to extract provision for inventory discount, provision for bad debts

II/ Solutions:

- Review, evaluate the structure of assets, equity appropriately in order to balance and use effectively internal resources of the Company;

- Cooperate with State authorities to solve difficulties in investment in projects;

- Review, evaluate, build and apply technical economic limit, suitable technical solutions, and improve capacity in production and business of construction materials, save input expense, reduce product price, and improve competitiveness in the market;

- Focus on reducing inventory, actively collect receivables in order to reduce pressure of finance;

- Cut down unnecessary expenses during the operation.

HNX

Other News

>   HBE: Stock under alert (14/04/2014)

>   PV2: Explanation for stock under alert and solutions (14/04/2014)

>   DID: Stock under alert (14/04/2014)

>   EIB: Reminded of late information disclosure (14/04/2014)

>   SBC: Reminded to submit financial statements (14/04/2014)

>   V15: Explanation for the stock under supervision (14/04/2014)

>   Shares fall as investor caution sets in (14/04/2014)

>   VST: VST to be traded again but put under control (14/04/2014)

>   ALP: ALP to be traded again but put under control (14/04/2014)

>   KHL: HNX notice: Stock under supervision (KHL) (14/04/2014)

Online Services
iDragon
Place Order

Là giải pháp giao dịch chứng khoán với nhiều tính năng ưu việt và tinh xảo trên nền công nghệ kỹ thuật cao; giao diện thân thiện, dễ sử dụng trên các thiết bị có kết nối Internet...
User manual
Updated version