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PFL: Explanation for the underline content of the auditor in FS 2013
On
28/03/2014, Petroleum Dong Do JSC explained the underline content of the
auditor in FS 2013 as follows:
1.
On 31/12/2013, the short-term debts of the Company exceeded the short-term asset
of the Company in amount of VND 18 billion. The payment ability of the Company
in 12 coming months depends on debt collection, investment capital collection
from other different financial sources.
2.
The balance of the inventory of the Company as on 31/12/2013 was VND 80.6
billion – the value of Complex Building in Hai Phong City. The Company is
looking for partner to transfer this project. On 31/12/2013, the Company
evaluated and extracted the provision for the inventory of this project in
amount of VND 22.7 billion.
3.
The balance of the receivables from customers in the balance sheet on
31/12/2013 was VND 13 billion of the receivables from Phu Long Real Estate Co.,
Ltd, Tien Loc Group Investment JSC and Ho Chi Minh City Housing Development
Bank – Hoan Kiem Branch related to the trade right value which these three
companies must pay for Petroleum Dong Do JSC when planning the construction
with scale 1/500 of the Project at 160 Tran Quang Khai, Hoan Kiem, Hanoi. HNX
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