TTF: TTF faces delisting risk

On August 31, 2017, the Hochiminh Stock Exchange (HOSE) received the 2017 semi-annual reviewed financial statements from Truong Thanh Furniture Corporation (stock code: TTF). Accordingly, the after-tax profit in the first six months of 2017 was 891.2 million dongs (of which, the after-tax profit of the parent company’s shareholders was 1.3 billion dongs), and the undistributed after-tax profit until 06/30/2017 was -1,416.2 billion dongs (accounting for 98% TTF’s charter capital). Besides, the auditor gave an except-for opinion on the deducted borrowing interest worth 84.6 billion dongs which was recorded into the other income account. Therefore, if TTF did not record the deducted borrowing interest of 84.6 billion dongs, this would affect the payable account and the after-tax profit. Accordingly, TTF’s undistributed after-tax profit will be the negative number higher than its charter capital.   

Therefore, if TTF’s accumulated loss (according to the 2017 audited consolidated financial statements) exceeds its paid-in capital, HOSE will implement procedure to delist the stock of TTF. 

HOSE

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