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PFL: Explanation for loss in 2013 and solutions
On 02/4/2014, Petroleum Dong Do Joint
Stock Company announced explanation for loss in 2013 and solutions as follows:
I.
Reasons for loss in 2013
Economy in general and real estate
market in particular had many disadvantageous happenings, interest rate for
real estate was still high and purchase power was low so revenue and other
income from production-business activities was low (VND 7.51 billion),
financial expense increased highly (VND 67.4 billion).
II.
Solutions
- Enhance transfer of real estate
projects and financial investment; actively find potential partners to
cooperate; leasing office and transfer projects to withdraw capital to
reinvest.
- Determine real estate investment as
the main business line of the Company. In addition:
+ Establish construction teams to
execute projects
+ Expand consulting and designing sector
+ Trade: Petroleum, asphalt, cement,
materials
- Focus resources to allowed and
potential projects in the future.
- Build plan to mobilize and arrange
capital for projects
- Intensify marketing and sale
- Improve supervision and control
production expenses to ensure profit maximization. HNX
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