PCT: Explanation for auditor' opinion in financial statement 2013

Cuu Long Petro Gas Service - Transportation JSC explained the explanation for auditor' opinion on the change from actual incurred costs to accruals for fixed asset overhaul in financial statement 2013 approved on 28 March 2014 as follows:

PCT operate in the field of passenger transportation by taxi and vehicles for hire, so the fixed assets are means of transportation of which the maximum capacity is utilized. These assets have 8-year depreciation. To ensure the efficient business in these vehicles of transportation, the overhaul is necessary.

 At present, the vehicles of PCT are at the time of overhaul and maintenance as recommended by the producers. With a view to operating the vehicles safety and efficiently, the Board of Directors have made plans for overhauling and maintaining these vehicles in 2014 and 2015. Therefore, the Company made accruals for overhaul 2013.

HNX

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