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PID: Explanation for the stock under supervision
On 25/04/2014, Petroleum
Interior Decoration Joint Stock Company explained for the stock under supervision as follows:
AASC auditor Co., Ltd.
announced the audited FS of the Company on 28/03/2014
Our Company did not extract
to provision for slow-moving inventories with the amount of VND 741,508,396, and
extract to provision for doubtful debt with the amount of VND 3,893,231,306 as
at 31/12/2013 according to the Circular No. 228/2009/TT-BTC issued on 07/12/2009
by Ministry of Finance
In 2013, the
Company recorded the revenue of the Contract No. 250613/2013/HDKT/PVC-ID issued
on 25/06/2013 on rennovating Thang Long Espana Hotel and invoiced according to
the actual amount but not according to the accepted value. Therefore, the
revenue is missing VND 316,550,483 and output VAT of the Company is missing VND
31,655,048. This reason led to the receivables from customer on the balance
sheet as at 31/12/2013 is missing VND 348,205,531 and the according profit
before tax on the Income Statement of 2013 decreased by VND 316,550,483
The Company is expecting to
have profit in 2014 by implement the plan for the last 06 months of 2014 well HNX
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