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PV2: Explanation for stock under alert and solutions
On 07/4/2014, PV2 Investment Joint Stock
Company announced explanation for stock under alert and solutions as follows:
1. Regarding to the difference of
financial figures in FS of Quarter 4/2013 from audited financial statement 2013
On 28/3/2014, PV2 Investment JSC had
sent Circular no. 60/CV-KT to SSC and HNX to explain for difference of figures
before and after audit.
2. Explanation for stock under alert and
solutions
a) Reasons for negative undistributed
profit after tax:
Undistributed profit after tax in
audited FS dated 31/12/2013 was negative because profit of the whole year 2013
was negative (VND -138,327,015,597) because:
- Real estate market was frozen, which
led to difficulties in business operation of the Company.
- Financial expense increased because
the Company cut loss of some investment and extracted provisions for long-term
investment.
- Administrative expense increased
because the Company extracted provision for bad debts.
b) Solutions:
- In 2014: The Company would maintain
production-business operation, ensure contribution of shareholders, actively
withdraw receivables and prevent the enterprise from status of breakdown or
bankruptcy.
- In 2015: The Company would attempt to
put PV2 from alert status by running business profitably to offset negative
undistributed profit after tax in 2013 and 2014 (if any). HNX
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