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AUDITING AND CONSULTING JOINT-STOCK COMPANY
A member of HLB international, A world-wide organization of accounting firm and business advisers
FINANCIAL STATEMENT
FOR THE FISCAL YEAR STARTED ON 01ST JANUARY
AND ENDED ON 31ST NOVEMBER 2006
HEAD OFFICE SECTION
THE VIETNAM CONSTRUCTION AND
IMPORT - EXPORT CORPORATION
1
HEAD OFFICE SECTION OF THE VIETNAM CONSTRUCTION AND IMPORT - EXPORT CORPORATION
CONTENTS
Page
1. Contents 1
2. Statement of the Management 2 - 5
3. Auditing report 6 - 8
4. Balance sheet as of 31st November 2006 9 - 11
5. Statement of performance results 12 - 13
6. Statement of cash flow 14 - 15
7. Explanation on financial statement 16 - 42
8. Financial statements of dependent units 43 - 58
*****************************
2
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
Address: VINACONEX building, Trung Hoa - Nhan Chinh new urban area, Thanh Xuan district, Hanoi STATEMENT OF THE MANAGEMENT
STATEMENT OF THE MANAGEMENT
The Management of the Vietnam Construction & Import - Export Corporation (VINACONEX)
(hereinafter referred to as “The Corporation”) would like to represent our Statement accompanied with
the audited Financial Statement of the Corporation for the fiscal year began on 1st January and ended on
31st November 2006.
Brief information about the Head Office Section of the Vietnam Construction & Import - Export
Corporation
The Vietnam Construction & Import - Export Corporation is a state-owned Corporation established
under the Decision No. 992/BXD-TCLD dated 20th November 1995 of the Minister of Construction
of Vietnam. The Corporation comprises of its member companies, which are state-owned
companies, dependent units and some vocational and training schools. The Vietnam Construction &
Import - Export Corporation is under the state management of the Ministry of Construction and
other state competent authorities as provided for by the laws of Vietnam.
Equity Capital by the Owner at the time of 30th November 2006: VND 1,632,640,816,593
Registered address: Vinaconex building, Trung Hoa – Nhan Chinh new urban area,
Nhan Chinh ward, Thanh Xuan district, Hanoi city.
Tel: 04 2 249 292
Fax: 04 2 249 208
Tax code: 0100105616
E-mail: [email protected]
Website: www.vinaconex.com.vn
Main business operation of the Corporation:
Under the Business License No. 110729, 19th amendment version dated 25th November 2003 issued
by the Hanoi Planning and Investment Authority, the Corporation’s business operation involved the
followings:
- To be a Contractor or a General Contractor to build up and complete construction projects in fields
of civil, industrial, transportation, airport, Harbor, Irrigation system, tunnel, channel, dikes, dams,
culture, Sport, recreation and entertainment, Tourism, Hotel, office buildings, school, hospital,
water supply and drainage works, telecommunication & post office, hydroelectric station,
thermoelectric works, windy - power, atomic - power, electrical line and transformer up to 500 KV;
engineering infrastructure system, infrastructure system of living quarters, Urban area, Industrial
Processing Zone, high Technology Zone etc., both domestically and internationally;
- To be a Consultant, Contractor, General Investment Consultant & Contractor and setting up
investment projects in all formalities as mentioned above including: setting up feasibility study,
tender consultant, supervision & consultation, project management, consultant on equipment and
new technology and automatic device procurement, topography survey, hydro - geology, project
survey, doing test in laboratory, designing; to verify the F/S, technical designs and general budget;
to verify the project quality and other consultant services;
- To invest in real estate, infrastructure, residential areas, new economic area, high technology area,
export processing zone, industrial zone;
- To do business activities in fields of hotel, tourism, tourist services, package holiday, tourist
transportation;
- To provide house for lease to foreign individuals and organizations;
3
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
STATEMENT OF THE MANAGEMENT (cont.)
- To exploit and do business activities in purified drinking water, energy and power;
- To import - export of material, equipments, machineries, spare-parts, production materials,
consuming materials, sub - materials, technology line, construction material, automatic devices,
handicraft goods, agriculture/ forestry/aquaculture products, consumer goods, transportation means,
motorcycles;
- To be a Sale Agent for domestic and international enterprises for production and consumption
goods under the laws;
- To do science research, apply and transfer new technology, automation equipment for area of
construction, construction material manufacturing as well as urban development;
- To manufacture, install, repair and maintain equipment, technology line and automation devices;
- To supply Vietnamese employees and experts for term working overseas;
- To exploit, manufacture, process and trade all kind of construction structure components and
materials including: stone, sand, gravel, brick, roof-tile, cement, glass, corrugated sheet roof,
bitumen and other materials used in construction and indoor or out-door decoration;
- To operate other services such as: installation, repair and maintenance HACV (Heat Air -
conditioning Ventilation) system, freezing electrical devices, fire - protection equipment, lift and
elevator; to provide other services such as: Delivery and freight of goods involve in construction
materials, super-weight or extra-sized components;
- To be an Airway ticket Agent of domestic and foreign Airlines;
- To do business and import - export of breweries, beer and alcohol;
- To do business for cigarette;
- To produce and do business with industrial textile and garment;
- To exploit, purchase and process agriculture and forestry products (processed wood, preliminarily
processed wood, coffee beans and other farming produce foodstuffs);
- To grow, take care of, preserve, maintain forestry, grow industrial plants, feed poultry and castle;
- To exploit, produce and sell purified drinking water;
- To do business in retail of oil & gas.
Financial Status and business performance
The financial status as of 30th November 2006 and business performance for the fiscal year begun on 1st
January 2006 and ended on 30th November 2006 of the Head Office Section of the Corporation are
presented in the accompanied Financial Statement herewith (from page 09 to page 42)
Events occurred after the end of the fiscal year
As of 01/12/2006, the Corporation officially operated in the form of a joint stock corporation under the
Business Registration Certificate No. 0103014768 dated 1st December 2006, issued by Hanoi
Investment & Planning Authority.
In addition to the above-mentioned event, the Management of the Corporation hereby confirms that no
event occurred after 30th November 2006 until the time of completion of this Statement, which leads to
modification or revision of any figures or data herein described.
4
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
STATEMENT OF THE MANAGEMENT (cont.)
The Board of Management and Directors
The Board of Management and Directors in charge of managing the business operation of the
Corporation during the fiscal year comprises of the followings:
Board of Management:
Full name Title
Phi Thai Binh Chairman
Nguyen Van Tuan Member
Vu Dinh Cham Member
To Ngoc Thanh Member
Hoang Hop Thuong Member and Inspector - in - Chief
Board of Directors:
Full name Title Date of appointment Date of dismissal
Nguyen Van Tuan Director General 30/11/2006
Truong Quang Nghia Director General 01/12/2006
Trinh Hoang Duy Deputy Director General
Le Cong Ich Deputy Director General
Nguyen Ngoc Diep Deputy Director General
Nguyen Thanh Phuong Deputy Director General
Mai Long Deputy Director General
Chief Accountant
Full name Title
Nguyen Dinh Thiet Chief Accountant
Under the Resolution of the Shareholder’s Meeting dated 27, 28/11/2006, the Board of Management of
the Corporation comprises of the followings:
Full name Title
Nguyen Van Tuan Chairman
Truong Quang Nghia Member
To Ngoc Thanh Member
Trinh Hoang Duy Member
Nguyen Dinh Thiet Member
Phan Minh Tuan Member
Auditor
The Auditing and Consulting Joint Stock Company (A&C) audited this Financial Statement for the
fiscal year started on 1st January and ended on 31st December 2006.
5
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
STATEMENT OF THE MANAGEMENT (cont.)
Confirmation of the Management
The Management of the Corporation would like hereby confirm, and be responsible for the same hereof,
that this Financial Statement correctly and truly reflects the business operation and performance of the
Head Office section of the Corporation in the same fiscal year. For the compilation and completion of
this Financial Statement, the Management already had to:
Select appropriate accounting standards, principles and methods and ensure the consistent
application of these in making of the same;
Make and produce forecasts and estimation with due diligence and care;
Publicize accounting standards that are required by laws to be applied in the Financial Statement
with respect to core matters announced and explained herein;
Compile this Financial Statement on the basis of continuous business operation the Corporation.
The Management hereby confirm that when making the Financial statement the Corporation already
strictly observed the above-said requirements; all suitable accounting books and documents was
sufficiently maintained enough to reflect, at any time and with appropriate level of accuracy and
adequacy, the financial status of the Corporation and the Financial Statement has been prepared in
conformity with Applied Standards and Accounting System of Vietnam.
The Management of the Corporation is responsible for the safety and security of all the assets of the
Corporation and therefore already implemented all necessary appropriate measures to protect and detect
any fraud or other violations.
We, member of the Management of the Corporation would like hereby to confirm that the herewith
attached Financial Statement was duly prepared, appropriately and accurately reflecting financial status
of the Head Office section of the Corporation as of 30th November 2006 and business performance for
the fiscal year commenced on 01st January and ended on 30th November 2006 of the Corporation as well
as was strictly in conformity with Vietnam’s accounting standards, system and related rules and
regulations of the laws.
For and on behalf of the Management
Signed
___________________________________
Truong Quang Nghia - General Director
Date: 25th December 2006
6
AUDITING AND CONSULTING JOINT-STOCK COMPANY
Member of HLB international, A world-wide organization of accounting firm and business advisers
Our ref.: 118/2006/BCTC-KTTV
AUDITING REPORT
ON FINANCIAL STATEMENT
FOR THE FISCAL YEAR COMMENCED ON 01 JANUARY AND ENDED ON 30 NOVERMBER 2006 OF
HEAD OFFICE SECTION OF VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION
TO: BOARD OF MANAGEMENT AND DIRECTORS OF VIETNAM CONSTRUCTION & IMPORT -
EXPORT CORPORATION
We already audited the accompanied Financial Statement of the Head Offfice Section of the Vietnam
Construction and Import – Export Corporation (currently known as the Vietnam Construction and Import –
Export Joint – Stock Corporation) on 25th December 2006 (from page 09 to page 42), comprising of: the
Balance Sheet on 30th November 2006, Business Performance Statement, Cash Flow Report and
Explanation for the Financial Statement for the fiscal year began on 01st January and ended on 30th
November 2006.
The compilation and presentation of this Financial Statement shall belong to the responsibility of the
management of the Corporation. Our responsibility is to deliver our opinion about this Financial Statement
on the basis of the outcome of the auditing works.
Scope of auditing
Under provisions of the Auditing Contract, we are obliged to carry out auditing works for 16 units out of 22
dependent ones whose financial figures incorporated in the Financial Statement of the Head Office section
of the Corporation. The audited units include:
- Vinaconex Housing and Urban Development Project management unit
- Bidding and Project Management Center
- Manpower Export and Trading Center
- Campha Cement Plant Project management unit
- BOT Dung Quat Water Plant
- Lang Hoa Lac Highway Expansion Project management unit
- Holiday View Hotel
- Buon Tua Srah Hydropower Project operation unit
- Cua Dat Reservoir Construction Project operation unit
- Song Da - Hanoi Water Supply System Project management unit
- Hoa Lac High-tech Park Project management unit
- Hoa Lac Projects management unit
- Sai Gon Vinaconex Housing and Urban Development Project management unit
- Buon Kuop Hydropower Project management unit
- Cai Gia Tourism and Urban area Project management unit
- Head Office Section of the Corporation
7
AUDITING REPORT (cont.)
Basis for our opinion delivery
We already carry out our works of auditing strictly in conformity with the guidelines of international
auditing standards and Vietnam’s current prevailing auditing standards and regulations. Such standards and
regulations require auditing works to be planned and conducted to appropriately and accurately ensure that
no serious error or mistake found in the Financial Statement. The auditing works were carried out as
follows: making pilot check of necessary documents and examining evidence of figures and data and other
related content described in the Financial Statement; evaluating the Financial Statement’s compliance of
current accounting standards and regulations; evaluating accounting principles and methods used in the
Financial Statement; assessing key forecast and estimations given by the Management as well as the overall
presentation of the Financial Statement. We are of opinion that the auditing works already produced out
fitting grounds for our opinion delivery.
Constrains of auditing works
Due to the limited scope of auditing, we have not been able to give out our opinion or comments about
Financial Statement of other units that we did not audit as well as to evaluate the effect of error or
mistake (if any) of such Financial Statements to the incorporated Financial Statement of the Head
Office section of the Corporation.
The auditing work is aimed at giving the auditor’s opinion about financial status, business performance
for the fiscal year began on 01st January and ended on 30th November 2006 of the Head Office section
of the Corporation only. For items of capital construction cost, the auditing works were only limited to
check the compliance of accounting and fiscal regulations required by the laws under normal auditing
procedures. The auditing work is not aimed at giving the auditor’s opinion about the cost finalization of
construction investment capital for completed items of works, which is required to apply special
accounting procedures.
The auditing was appointed to carry out after the end of the fiscal year. Consequently, the auditor was
not able to witness the checking and calculation of inventory goods and items and other assets as well
as to evaluate the volume of in-progress construction works as of 30th November 2006. As a result, the
auditor was not able to identify and therefore justify the status, appropriateness and reflection level of
such criteria and items.
At the time of 30th November 2006, outstanding amount figures of receivables, payables have not yet
been compared and confirmed sufficiently for each item.
The calculation and recording of revenue of construction agreements for some projects in Bidding and
Project Management Center and Lang - Hoa Lac Highway Expansion Project Management unit have
been conducted not based on volume accepted for payment by project owners and developers; the
calculation and recording of revenue of apartment projects of Housing and Urban Development Project
management unit have been made on the basis of construction volume that were actually recorded not
according to construction volume actually completed.
The determination of in-progress business expenses at the end of the fiscal year for construction works
has not complied with specific standards.
During the fiscal year, the Corporation allocated values of business advantage and brand that occurred
during the corporate valuation process before Vinaconex Corporation transformed into a Joint Stock
Corporation into its business performance data. Total arising expenses were allocated within three years
from 01st January 2006, and the allocated amounts of 2006 were VND 30,962, 857,637 and VND
15,481,428,819 respectively (see the explanation in appendix 01).
8
AUDITING REPORT (cont.)
Internal liabilities among dependant units of the Corporation’s Head Office section are shown on the
basis of adding in each item, and they have not been deducted completely from the Balance Sheet of the
Corporation’s Head Office section.
At Cam Pha Cement Project management unit, taxes paid by contractors for the whole project under
Circular No. 05/2005/TT-BTC dated 10/11/2005 of Ministry of Finance have not been calculated and
declared.
According to Paragraph 10, Article 1 of the Decision No. 56/2005/QDD-TTg dated 18th March 2005 of
the Prime Minister on approval of pilot plan for equitization of the Vietnam Construction and Import -
Export Corporation, the increased capital due to share auction of the Vietnam Construction and Import -
Export Corporation shall be remained in order to increase state-owned capital of the Corporation. Thus
the difference between share prices due to the share auction is reflected at the item “Surplus of the
equity capital”.
As of 01/12/2006, the Corporation officially operated in the form of a joint stock corporation, yet has
not completed procedures for handover of assets, capital and settlement of equitization expenses with
the Government. Therefore, figures and data described in the Financial Statement may be changed
when these handover and settlement procedures complete.
Auditor’s opinion
In our opinion, apart from the above constrains as above mentioned and their effect to relevant figures and
data described in the Financial Statement, in consideration of all key aspects, the Financial Statement
already reasonably reflected the financial status at the time of 30th November 2006 and business
performance of the fiscal year began on 01st January and ended on 30th November 2006 of the Head Office
section of the Corporation and was at the same time strictly in conformity with current prevailing corporate
accounting system and standards as required by the laws of Vietnam.
This report is made into 10 sets of equal validity.
Auditing and Consulting Joint Stock Company (A&C)
Hanoi Branch
Signed
____________________________
Nguyen Thi Hong Thanh - Director
Auditor License No. D.0053/KTV
Signed
_______________________________
Nguyen Hoang Duc - Auditor
Auditor License No. D0368/KTV
Hanoi, dated 29th December 2006
9
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
Address: VINACONEX building, Trung Hoa - Nhan Chinh new urban area, Thanh Xuan district, Hanoi FINANCIAL STATEMENT
For the fiscal year began on 01st January and ended on 30th November 2006
BALANCE SHEET
As of 30th
November 2006
Unit: VND
ASSETS Code Explanation Opening balance Closing balance
A - SHORT-TERM ASSETS
100
4,764,595,776,650 1,725,371,448,857
I. Cash & equivalent amounts 110 V.1 1,229,006,554,252 199,782,141,740
1. Cash in hand 111 1,222,400,454,252 197,013,810,740
2. Cash equivalent amounts 112 6,606,100,000 2,768,331,000
II. Short-term financial investments 120 V. 2 60,477,133,299 33,528,933,333
1. Short-term investment in securities 121 60,477,133,299 33,528,933,333
2. Provision for the diminution in value of short-term
investments
129
- -
III. Receivables 130 2,675,282,437,976 1,097,564,547,649
1. Receivables from customers 131 V.3 192,023,882,144 81,190,575,213
2. Prepayment to suppliers 132 V.4 878,492,765,908 366,582,959,384
3. Inter-company receivables 133 1,446,544,904,568 610,130,672,665
4. Receivables according to construction agreement's
schedule
134 - -
5. Other receivables 138 V.5 158,220,885,356 39,660,340,387
6. Provision for bad debts 139 - -
IV. Inventories 140 731,168,378,956 352,199,835,773
1. Inventories 141 V.6 731,168,378,956 352,199,835,773
2. Provision for decline in inventories 149 - -
V. Other short – term assets 150 68,661,272,167 42,295,990,362
1. Short-term prepayment expenses 151 V.7 28,976,644,150 10,112,133,745
2. Deducted value-added tax 152 28,887,910,076 23,773,014,859
3. Taxes and other receivables from the Government 154 20,307,473 54,377,916
4. Other short – term assets 158 V.8 10,776,410,468 8,356,463,842
10
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
Address: VINACONEX building, Trung Hoa - Nhan Chinh new urban area, Thanh Xuan district, Hanoi FINANCIAL STATEMENT
For the fiscal year began on 01st January and ended on 30th November 2006
Balance sheet (cont.)
ASSETS Code Explanation Opening balance Closing balance
B - LONG-TERM ASSETS
200 4,505,911,280,710 2,078,858,711,924
I. Long-term receivables 210 436,676,272 -
1. Long-term receivables from customers 211 - -
2. Operation capital in dependant units 212 - -
3. Long-term inter-company receivables 213 - -
4. Other long-term receivables 218 V.9 436,676,272 -
5. Provisions for long-term bad debts 219 - -
II. Fixed assets 220 3,748,746,932,652 1,600,812,202,965
1. Tangible fixed assets 221 V.10 98,509,226,096 274,986,254,334
Cost 222 154,403,559,450 322,905,739,460
Accumulated depreciation 223 (55,894,333,354) (47,919,485,126)
2 Financial lease assets 224 - -
Cost 225 - -
Accumulated depreciation 226 - -
3. Intangible fixed assets 227 V.11 11,679,150,626 11,770,803,390
Cost 228 12,215,815,559 12,203,315,559
Accumulated depreciation 229 (536,664,933) (432,512,169)
4. In-progress fundamental construction expenses 230 V.12 3,638,558,555,931 1,314,055,145,241
III. Investment in real estate 240 V.13 160,716,459,662 -
Cost 241 172,384,934,736 -
Accumulated depreciation 242 (11,668,475,074) -
IV. Long-term financial investment 250 482,145,778,415 319,945,677,830
1. Investment in subsidiary companies 251 V.14 364,104,432,875 226,617,214,904
2. Investment in joint venture, joint operation
companies 252 V.15
40,024,263,947 72,025,447,246
3. Other long-term investment 258 V.16 78,017,081,593 21,303,015,680
4. Provision for the diminution in value of long - term
investments 259
- -
V. Other long-term assets 260 113,865,433,709 158,100,831,129
1. Long-term prepayment 261 V.17 113,865,433,709 158,100,831,129
2. Deferred income taxes 262 - -
3. Other long-term assets 268 - -
TOTAL RESOURCES 270 9,270,507,057,361 3,804,230,160,781
11
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
Address: VINACONEX building, Trung Hoa - Nhan Chinh new urban area, Thanh Xuan district, Hanoi FINANCIAL STATEMENT
For the fiscal year began on 01st January and ended on 30th November 2006
Balance sheet (cont.)
EQUITY Code Explanation Closing balance Opening balance
A - LIABILITIES 300 6,823,515,073,416 2,674,573,913,461
I. Current Liabilities 310 3,462,411,570,654 1,574,372,698,784
1. Short-term borrowings 311 V.18 827,644,131,551 304,951,774,835
2. Payables to suppliers 312 V.19 268,317,824,202 226,032,465,437
3. Advances from customers 313 V.20 1,288,565,527,795 732,719,256,349
4. Taxes and payables to state budget 314 VI.21 23.984.726.498 54,425,404,806
5. Payables to employees 315 V.22 3,649,479,148 1,397,036,813
6. Payable expenses 316 V.23 241,836,641,390 107,464,755,048
7. Inter-company payables 317 635,500,622,890 16,601,576,800
8. Payables according to construction agreement's schedule 318 - -
9. Other payables 319 V.24 172,912,617,180 130,780,428,696
10. Provision for short-term payables 320 - -
II. Long-term liabilities 330 3,361,103,502,762 1,100,201,214,677
1. Long-term payables to suppliers 331 - -
2. Long-term inter-company payables 332 345.590.206.994 -
3. Other long-term payables 333 V.25 28,183,460,195 27,933,443,195
4. Long-term borrowings 334 V.26 2,986,272,952,328 1,071,268,836,771
5. Payable deferred income taxes 335 - -
6. Provision for severance allowances 336 V.27 1,056,883,245 998,934,711
7. Provision for long-term payables 337 - -
B - OWNER'S EQUITY 400 2,446,991,983,945 1,129,656,247,320
I. Owner's equity 410 2,406,814,460,180 1,072,521,709,157
1. Owner's investment capital 411 V.28 1,632,640,816,593 1,072,521,709,157
2. Surplus of equity capital 412 V.28 810,765,319,080 -
6. Foreign exchange differences 416 (54,239,673,646) -
7. Business development funds 417 V.28 12.488.446.073 -
8. Financial reserve funds 418 V.28 5,159,552,080 -
10. Undistributed profits 420 V.29 - -
II. Other funds and expenses 430 40,177,523,765 57,134,538,163
1. Bonus and welfare funds 431 36,905,519,842 54,297,774,753
2. Resources for expenses 432 3,272,003,923 2,836,763,410
TOTAL RESOURCES 440 9,270,507,057,361 3,804,230,160,781
Hanoi, dated 25th December 2006
Prepared by Chief Accountant General Director
signed signed signed
Nguyen Quynh Trang Nguyen Dinh Thiet Truong Quang Nghia
12
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
Address: VINACONEX building, Trung Hoa - Nhan Chinh new urban area, Thanh Xuan district, Hanoi FINANCIAL STATEMENT
For the fiscal year began on 01st January and ended on 30th November 2006
STATEMENT OF PERFORMANCE RESULT
For the fiscal year began on 01st January and ended on 30
th November 2006
Unit: VND
ITEMS Code Explanation Current year
1. Gross revenue from goods sales and
services provision
01 VI,1 1,345,245,053,384
2. Deductions 03 102,432,000
3. Net revenue from goods sales and
services provision
10 VI,1 1,345,142,621,384
4. Cost of goods sales 11 VI,2 1,190,498,616,676
5. Accumulated profit from goods sales
and services provision
20 154,644,004,709
6. Income from financial activities 21 VI,3 79,720,734,785
7. Expenses from financial activities
In which: bank loan interest
22
23
VI,4 46,079,777,871
44,623,562,514
8. Selling expenses 24 VI,5 16,157,842,443
9. Overhead cost 25 VI,6 119,920,194,447
10. Net income from operating activities 30 52,206,924,732
11. Income from other activities 31 VI,7 18,161,324,292
12. Expenses from other activities 32 VI,8 9,516,884,776
13. Other Profits 40 8,644,439,516
14. Net profit before tax 50 60,851,364,248
13
For the fiscal year began on 01st January and ended on 30th November 2006
Statement of performance result (cont.)
ITEMS Code Explanation Previous year
15. Corporate Income tax 51 9,247,555,133
16. Deferred Corporate Income tax 52 -
17. Net profit after CIT tax 60 51,603,809,115
18. Earnings per share 70 -
Hanoi, dated 25th December 2006
Prepared by
signed
Nguyen Quynh Trang
Chief Accountant
signed
Nguyen Dinh Thiet
General Director
signed
Truong Quang Nghia
14
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
Address: VINACONEX building, Trung Hoa - Nhan Chinh new urban area, Thanh Xuan district, Hanoi FINANCIAL STATEMENT
For the fiscal year began on 01/01 and ended on 30th November 2006
CASH FLOW REPORT
(Indirect method)
For the fiscal year began on 01st January and ended on 30
th November 2006
ITEMS Code Explanation Current fiscal year
I. Cash flow from operating activities
1. Profit before tax 01 60,851,364,248
2. Adjustment of items 49,357,432,165
- Depreciation of fixed assets 02 24,043,928,538
- Amounts for provision 03 -
- Uncalculated profits and losses due to differences in exchange rates 04 -
- Profits and losses from investment activities 05 (19,310,058,887)
- Interests to be paid 06 44,623,562,514
3. Profits from operating activities due to changes
in working capital
08 110,208,796,413
- Increase/ decrease in receivables 09 (2,676,826,121,926)
- Increase/ decrease in inventories 10 (378,968,543,183)
- Increase/ decrease in payables (excluding interests and income tax
to be paid)
11 2,686,199,835,947
- Increase/ decrease in prepayments 12 25,370,887,015
- Interests have been paid 13 (42,194,924,962)
- Corporate income tax has been paid 14 (40,648,243,388)
- Other profits from operating activities 15 45,765,498,564
- Other expenses from operating activities 16 (46,440,093,532)
Net cash flow from operating activities 20 (317,532,909,052)
II. Cash flow from investment activities
1. Expenses for purchases of fixed assets and other long-term assets 21 (1,354,448,130,435)
15
For the fiscal year began on 01/01 and ended on 30th November 2006
Statement of Cash flow (cont.)
2. Profits from liquidation and assignment of fixed assets
and other long-term assets
22 9,208,878,556
3. Lending, purchases of debt instruments of other companies 23 (74,610,085,323)
4. Profits from recovering lending and re-selling liabilities of other
companies
24 36,297,264,333
5. Expenses for capital contribution into other companies 25 (91,541,832,400)
6. Profits from recovering capital contribution into other companies 26 5,500,000,000
7. Profits from recovering lending, dividend and distributed profits 27 10,101,180,331
Net cash flow from investment activities 30
(1,459,492,724,938)
III. Cash flow from financial activities
1. Profits from share issuance and the owner’s equity 31 549,495,630,000
2. Expenses for owners’ equity, re-buying issued shares 32 (127,951,237,383)
3. Short-term and long-term borrowings 33 2,972,972,055,895
4. Expenses for payment of principal 34 (588,488,160,901)
5. Expenses for financial leasing 35
6. Dividend, profits paid for equity owners 36
Net cash flow from financial activities 40 2,806,028,287,611
Net cash flow during the fiscal year (20 + 30 + 40) 50 1,029,002,653,621
Cash in hand and cash equivalent amounts at the beginning of
the fiscal year
60 V.1 199,782,141,740
Effects of changes in exchange rate 61
221,758,891
Remaining of cash in hand and cash equivalent amounts 70 V.1 1,229,006,554,252
at the end of the fiscal year (50 + 60 + 61)
Hanoi, dated 25th December 2006
Prepared by
signed
Nguyen Quynh Trang
Chief Accountant
signed
Nguyen Dinh Thiet
General Director
signed
Truong Quang Nghia
16
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
Address: VINACONEX building, Trung Hoa - Nhan Chinh new urban area, Thanh Xuan district, Hanoi FINANCIAL STATEMENT
For the fiscal year began on 01st January and ended on 30th November 2006
Explanation on Financial Statement (cont.)
EXPLANATION ON FINANCIAL STATEMENT From January 01, 2006 to November 30, 2006
I. OPERATIONAL FEATURES OF THE CORPORATION
1. Form of capital ownership : Being a state-owned corporation
2. Business operation:
- To be a Contractor or a General Contractor to build up and complete construction projects in fields of
civil and industrial fabrics, transportation, airport, harbor, irrigation system, tunnel, channel, dikes,
dams, culture, sport, recreation and entertainment, tourism, hotel, office buildings, school, hospital,
water supply and drainage works, telecommunication & post office, hydroelectric station,
thermoelectric works, windy-power, atomic-power, electrical line and up-to-500KV transformer;
engineering infrastructure system, infrastructure system of living quarters, urban area, industrial
processing zone, high technology zone, etc., both domestically and internationally;
- To be a Consultant, Contractor, General Investment Consultant & Contractor in all formalities as
mentioned above including: setting up feasibility study, tender consultant on equipment and new
technology and automatic device procurement, topography survey, hydrogeology, project survey,
doing test in laboratory, designing; verifying the F/S, technical designs and general budget; verifying
the project quality and other consultant services;
- To invest in real estate, infrastructure, residential areas, new economic area, high technology area,
export processing zone, industrial zone;
- To do business activities in fields of hotel, tourism, tourist services, package holiday, tourist
transportation;
- To provide houses for lease to domestic and foreign companies;
- To exploit and do business activities in purified drinking water, energy and power;
- To import & export materials, equipments, machineries, spare parts, production materials, consuming
materials, sub-materials, technology line, construction material, automatic devices, handicraft goods,
agriculture/ forestry aquaculture products, consuming goods, transportation means, motorcycles;
- To be Sale Agent for domestic and international enterprises for production and consumption goods
under regulations of laws;
- To do science research, apply and transfer new technology, automation equipment which used in
construction, construction material manufacturing as well as urban development;
- To manufacture, install, repair and maintain equipment, technology line and automatic devices;
- To supply Vietnamese employees and experts for term working overseas;
- To exploit, manufacture, process and trade all kinds of construction structure components and
materials including: stone, sand, gravel, brick, roof-tile, cement, glass, corrugated sheet roof, bitumen
and other materials used in construction and indoor or out-door decoration;
17
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
Address: VINACONEX building, Trung Hoa - Nhan Chinh new urban area, Thanh Xuan district, Hanoi FINANCIAL STATEMENT
For the fiscal year began on 01st January and ended on 30th November 2006
Explanation on Financial Statement (cont.)
- To operate other services such as: installation, repair and maintenance HACV (Heat Air-conditioning
Ventilation) system, freezing electrical devices, fire-protection equipment, lift and elevator; to
provide other services such as: Delivery and freight of goods involve in construction materials, super-
weight or extra-sized components;
- To be an Airway ticket Agent of domestic and foreign Airlines;
- To do business and import-export of breweries, beer and alcohol;
- To do business in cigarette;
- To produce and do business in industrial textile and garment;
- To exploit, purchase and process agriculture and forestry products (processed wood, preliminarily
processed wood, coffee beans and other farming produce foodstuffs);
- To grow, take care of, preserve, maintain forestry, grow industrial plants and breed poultry and castle;
- To exploit, produce and sell purified drinking water;
- To do business in retail of oil & gas.
II. ACCOUNTING YEAR, CURRENCY USED IN BOOK-KEEPING
1. Accounting year
The fiscal year of the Corporation shall begin on 1st January and end on 31th December annually.
2. Currency used in Book-keeping
Currency used in the statement is Vietnamese Dong (VND).
III. APPLIED ACCOUNTING SYSTEM AND PROCEDURES
1. Applied accounting system and procedures
Current Vietnamese corporate accounting system and procedures
2. Declaration of compliance with Vietnamese Corporate Accounting systems and procedures
The management of VINACONEX declares to comply with current Vietnamese corporate accounting
system and procedures during preparation of financial statement.
3. Applied Book Forms
General Diary
IV. APPLIED ACCOUNTING POLICY
1. Basis for preparation of financial statement
The financial statement is presented based on net cost principle.
18
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
Address: VINACONEX building, Trung Hoa - Nhan Chinh new urban area, Thanh Xuan district, Hanoi FINANCIAL STATEMENT
For the fiscal year began on 01st January and ended on 30th November 2006
Explanation on Financial Statement (cont.)
2. Cash and equivalent amounts
Cash and equivalent amounts include cash, cash in bank, cash in transit and short-term investments
with maturity period of not exceed 03 months since their purchase date, which can be easily or
without risk transferred to a specified amount.
3. Inventory
Inventory is determined on the basis of net origin cost. Inventory net cost includes expenses for
purchasing, processing and other directly relevant expenses arising for the occurrence of inventory at
the current time and state.
Net original cost of inventories shall be calculated under the nominated real cost calculation method
and entered into the account under the frequent declaration method.
Provisions for decrease in price of inventory were recorded whenever net origin costs were larger
than available net values. Available net values are the estimated selling price of the inventory
deducted its estimated production cost and necessary estimated cost for sales.
4. Commercial receivables and other receivables
Commercial receivables and other receivables are determined by invoices.
5. Tangible fixed assets
Tangible fixed assets for business operation activities
Value of fixed assets is determined by the deduction of net cost to accumulated depreciation. Net cost
of fixed assets (FA) shall comprises of all costs the Corporation already paid for having the possesion
and ownership of such FA up to the time at which these FA are ready for use. Costs arising after
initial record are only credited to FA net costs in case they shall certainly result in an increase in
economical benefits in the future due to usage of those FA. Costs failing to meet aforesaid conditions
shall be recorded as costs within the fiscal period.
Whenever there are purchases or liquidation of FA, net cost and accumulated depreciation are
removed from books and any profits or losses arising out of the liquidation process are calculated in
revenue or expense in such fiscal period.
Depreciation value of asset shall be calculated under the straight-line depreciation method on the
basis of estimated time of use for such assets in conformity with instructions under Decision No.
206/2003/QD-BTC dated 12th December 2003 by the Minister of Finance. Years of depreciation of
types of assets are as follows:
Types of assets Year of depreciation
Housing and architecture objects 7 - 25
Machinery and equipments 5 - 6
Means of transportation, communications 7
Office devices and tools 4 - 6
Other tangible FA 4 - 6
6. Intangible fixed assets
Land use right
Land use rights are all actual costs that the Corporation alreay paid in connection with such used land,
comprising of expenses actually incurred for obtaining land use rights on such lands, compensation,
clearance, leveling, … register charges, etc. Year of depreciation is 25 years.
19
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
Address: VINACONEX building, Trung Hoa - Nhan Chinh new urban area, Thanh Xuan district, Hanoi FINANCIAL STATEMENT
For the fiscal year began on 01st January and ended on 30th November 2006
Explanation on Financial Statement (cont.)
Computer software
Computer software is all costs that the Corporation already paid up to the time the computer software
is put in use. Year of depreciation is 4 years.
7. Borrowing expenses
Borrowing expenses shall be capitalized whenever relate directly to investment for construction or
production of in-progress assets for which it need long - enough period of time (more than 12 months)
for being put into usage at its originally intended purpose of usage or for sales. Other costs are
recorded as business operation costs in fiscal period.
8. Financial investment
Investment in securities, subsidiary and dependant companies are determined by net origin costs.
Provision for decline in prices of securities is prepared for each type of securities being traded on the
stock exchange market, whose prices are decreasing in comparison with prices recorded on books.
Whenever making liquidation of investment, the differences between net liquidation values and
values recorded on books shall be calculated as incomes or expenses within the fiscal period.
9. Joint venture operation
Benefits that the Corporation enjoys from business operation jointly managed and enjoys from assest
jointly controlled shall be recorded in the Balance Sheet by distributing to the Corporation according
to its share propotion in the joint business operation in assets, liabilities, incomes and expenses of
relevant items.
10. Long-term prepayment costs
Tools and devices
Value of tools and devices which have been put into usage shall be distributed into expenses in the
fiscal period under the straight-line depreciation method with years of distribution not exceed 03
years.
Prepaid land rental
Prepaid land rental shall reflect land rental paid for the land being used by the Corporation. Land
rental shall be distributed in accordance with rental term of 20 years as regulated on the land leasing
contract.
Operation costs of the Corporations’s management
According to the Regulation on Finance of the Corporations’ management issued by the Corporation,
all operation costs for the Corporation’s management shall be calculated on the basis of an estimated
amount, which previously has been approved by the Corporation. In case of actual costs being larger
than the approved estimated amount, such cost shall be dealt with at the time of finalization of
relevant cost.
Values for business advantage
Business advantages are determined and recorded in conformity with the Decision No. 2319/QD-BTC
on corporate values for equitization of the Vietnam Construction and Import - Export Corporation at
the time of January 01, 2005. Such business advantage shall be distributed within 03 years,
commencing from 01st January 2006.
Trade name values
Trade name values are determined and recorded under the Decision No. 2319/QD-BTC on corporate
values for equitization of the Vietnam Construction and Import - Export Corporation at the time of
January 01, 2005. Such trade name value shall be distributed within 03 years, commencing from 01st
January 2006.
20
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
Address: VINACONEX building, Trung Hoa - Nhan Chinh new urban area, Thanh Xuan district, Hanoi FINANCIAL STATEMENT
For the fiscal year began on 01/01 and ended on 30th November 2006
Explanation on Financial Statement (cont.)
11. Costs payable before maintenance costs for residential apartments
Payables shall be recorded on the basis of reasonable estimation of amount to be paid for goods and
services used during the fiscal period.
Maintenance costs for residential apartments are distributed in advance at the rate of 3% over the
revenue from sales of apartments.
As concluded by the Inspection Delegation of Ministry of Finance for the fiscal year of 2003,
“eventhough that such distribution in advance has not yet been regulated by laws, this, however, is a
new arising matter and necessary for investment in construction of high-rise urban areas. Therefore,
the Inspection Delegation has recognized this distribution and the Vietnam Construction & Import –
Export Corporation is required to set up and submit a plan for usage of such maintenance costs for
high-rise residential apartments to Ministry of Finance and Ministry of Construction for guilding
settlement solution”.
On 10th October 2006, the Ministry of Finance issued Letter No. 1690/BTC-TCDN on determination
of corporate value for equitization of Vinaconex, clearly indicating the necessity for distribution of
maintaining cost for long-term operation of urban areas, and allowing distribution of 3% of revenue
from sales of apartments.
12. Severance allowance provision funds
Severance allowance provision funds are used to grant allowances to labors that quit or lose their
jobs. Maximum distribution for severance allowance provision funds from wage fund is 3% to partly
cover social insurance and shall be recorded as costs within the fiscal period. In case severance
allowance provision funds within the period are not enough, differences in shortage shall be recorded
as costs.
13. Corporate income tax
The Corporation is responsible for paying Corporate income tax at a tax rate of 28% over total taxed
incomes.
Existing income tax is determined by total taxed income within the period at a tax rate applicable on
the last date of the period.
14. Principles for conversion of foreign currencies
The applicable rate to be used for conversion of costs and expenses arising in foreign currencies shall
be relevant exchange rate on the date of the transaction payment.
Differences on exchange rate within the period and differences on exchange rate arising out of review
of currency items at the end of the period shall be recorded as income or costs within the period.
Applicable rate at the time of 30th November 2006:
1USD = 16,061 VND
1EUR = 21,268.84 VND
1 JPY = 139.25 VND
1 KIP = 1.5 VND
15. Principles for record of turnover
When goods and products are sold, turnover is recorded when major of risks and benefits attached to
ownership of those goods and products have been transferred to buyers and there exist no
significantly uncertain factors relating to payment, accompanied expenses or possibilities of returned
goods.
21
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
Address: VINACONEX building, Trung Hoa - Nhan Chinh new urban area, Thanh Xuan district, Hanoi FINANCIAL STATEMENT
For the fiscal year began on 01/01 and ended on 30th November 2006
Explanation on Financial Statement (cont.)
When services are provided, turnover is recorded when there exist no significantly uncertain factors
relating to payment or accompanied expenses.
Profits are recorded by duration and interests of each period.
Temporary dividends from investments in Subsidiaries and Dependant units are determined by
statement of performance results of these Subsidiaries and Dependant units in November 2006.
Shared dividends and profits are recorded when shareholders are entitled to receive dividends or
capital contributing parties are entitled to receive profits from their capital contribution.
16. Construction contract
At Bidding and Project Management Center
Turnover
For works for which costs have been recorded or collected: Turnover is recorded when VAT invoices
are made to customers, which is based on checking and acceptance minutes on values of volumes
done and accepted for payment or based on requirements of customers.
For works for which costs have been not yet recorded or collected: Turnover of volume done and
checked (and for which VAT invoices have been made) is monitored by Turnover in advance item,
which have not yet transferred to business results.
Cost price
Cost price of works = Opening in-progress business operation costs + Actual costs within the
period – Closing in-progress business operation costs
Determination of in-progress business operation costs at the end of the fiscal year has not followed
any specific criteria.
At Construction Operation Committees
Turnover
Turnover comprises of volume done and checked and accepted for payment by construction units
(three-party checking: developer, operation committees and construction units) and management fees
for such operation committees collected from construction units.
Cost price
Cost price is determined by volume done and checked and accepted for payment by construction
units.
22
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
Address: VINACONEX building, Trung Hoa - Nhan Chinh new urban area, Thanh Xuan district, Hanoi FINANCIAL STATEMENT
For the fiscal year began on 01st January and ended on 30th November 2006
Explanation on Financial Statement (cont.)
V. SUPPLEMENTAL INFORMATION OF ITEMS PRESENTED IN THE BALANCE SHEET
1. Cash & equivalent amounts
Closing balance Opening balance
Cash 5,067,492,933 4,869,340,827
Cash in bank 1,209,832,961,319 192,144,469,913
Cash in transition 7,500,000,000 -
Equivalent amounts 6,606,100,000 2,768,331,000
- Two-month deposit account 2,000,000,000 1,022,121,000
- Three-month deposit account 4,606,100,000 1,746,210,000
Total 1,229,006,554,252 199,782,141,740
2. Short-term investments Closing balance Opening balance
Other short-term investments
Deposit accounts within a period 51,415,734,200 23,253,200,000
- Six-month deposit account 10,876,684,200 6,953,200,000
- Twelve-month deposit account 40,539,050,000 16,300,000,000
Short-term lending 9,061,399,099 10,275,733,333
- Vinaconex 21 131,279,099 - 925,733,333
- Vinaconex 17 7,493,830,000 8,000,000,000
- Project management unit of Hoa Phu
resettlement area
246,400,000 -
- Vinaconex Xuan Mai 1,189,890,000 1,350,000,000
Total 60,477,133,299 33,528,933,333
3. Receivables from customers Closing balance Opening balance
Vinahud - HN 84,080,525,577 3,956,155,823
Bidding and Project Management Center 72,748,361,328 47,964,068,837
Vinaconex-Mec 1,915,039,445 1,425,425,050
Dung Quat BOT Water Plant 2,030,520,357 1,241,414,274
Holiday View hotel 408,619,397 66,248,811
Cua Dat Reservior Project Operation
Committee
3,965,125,575 1,146,684,000
Bim Son Construction Techniques School 12,234,125 9,856,125
Sam Son hotel 2,500,000 2,500,000
Swimming pool Construction Center 154,563,818 154,563,818
Head office section of the Corporation 26,706,392,522 25,223,658,475
Total 192,023,882,144 81,190,575,213
23
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
Address: VINACONEX building, Trung Hoa - Nhan Chinh new urban area, Thanh Xuan district, Hanoi FINANCIAL STATEMENT
For the fiscal year began on 01st January and ended on 30th November 2006
Explanation on Financial Statement (cont.)
4. Prepayments for suppliers
Closing balance Opening balance
Vinahud - HN 35,863,239,154 8,901,384,045
Bidding and Project Management Center 358,101,845,385 131,447,557,045
Vinaconex-Mec 696,936,487 170,320,000
Campha Cement Project management unit 1,703,948,110 340,979,449
Dung Quat BOT Water Plant 179,655,961 58,370,558
Lang - Hoa Lac Expansion Project
management unit
292,260,797,220 141,034,841,263
Holiday View hotel 4,140,000 1,500,000
Buon Tua Srah Hydropower Project Operation
Committee
21,706,866,686 3,252,952,621
Cua Dat Reservoir Project Operation
Committee
83,683,239,000 13,952,981,600
Da River - Hanoi Project Operation Committee 4,553,941,176 -
Hoa Lac High-tech Park Project management
unit
4,354,147,438 32,707,872,803
Hoa Lac Projects Management unit 924,000,000 -
Vinahud - SG 698,777,400 2,714,200,000
Buon Kuop Hydropower Project management
unit of
41,554,717,506 -
Cai Gia Urban & Tourism Area Project
management unit
20,000,000 -
Sam Son hotel 3,714,385 -
Cam Pha Cement Grinding Station 182,800,000 -
Head office section of the Corporation 32,000,000,000 32,000,000,000
Total 878,492,765,908 366,582,959,384
5. Other receivables
Closing balance Opening balance
Equitization costs 1,209,309,634 643,272,727
Temporarily calculated dividends and profits
within the period
24,733,917,592 -
Other receivables 132,277,658,130 39,017,067,660
Land clearance Board of Thach That district 37,417,518,235 435,333,235
Land clearance Board of Quoc Oai district 61,441,810,000 963,699,000
Vinaconex 34 2,264,866,646 11,264,866,646
Vicostone - 1,800,000,000
Vinaconex 11 1,000,000,000 -
Vinaconex 5 1,000,000,000 -
Vinaconex 6 1,000,000,000 -
Vinaconex 7 1,200,000,000 -
Vinaconex 12 3,044,160,909 11,044,160,909
Vietnam Mine Construction & Exploitation
joint stock company
478,716,855 -
Jean Dessjoyaux joint stock company 809,065,920 727,774,152
A.T.C.V 1,000,000,000 -
Payables to foreign brokerage 1,159,763,076 1,581,080,884
Expenses for the Administrative Headquarter
Project waiting to be settled
4,216,089,989 -
Fee for registry of residential apartments 444,217,545 -
Thang Long Project management unit 10,000,000,000 -
Land clearance and compensation funds 951,335,655 5,138,675,000
Receivables from Thanh Tri bridge
construction units
2,504,772,290 2,278,452,466
Other objects 2,345,341,010 3,783,025,368
Total 158,220,885,356 39,660,340,387
24
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
Address: VINACONEX building, Trung Hoa - Nhan Chinh new urban area, Thanh Xuan district, Hanoi FINANCIAL STATEMENT
For the fiscal year began on 01st January and ended on 30th November 2006
Explanation on Financial Statement (cont.)
6. Inventory
Closing balance Opening balance
Materials 103,282,473,365 380,815,214
Tools and devices 426,436,197 189,945,951
In-progress operation expenses 626,013,274,741 345,996,053,010
Goods 1,446,194,653 5,349,653,425
Goods sent for sales - 283,368,173
Total 731,168,378,956 352,199,835,773
7. Short-term prepayment
Please see appendix # 01
8. Other current assets Closing balance Opening balance
Advances 10,722,215,051 8,315,109,701
Short-term mortgages, collateral security 10,400,000 -
Assets in shortage, waiting to be handled 43,795,417 41,354,141
Total 10,776,410,468 8,356,463,842
9. Other long-term receivables Closing balance Opening balance
Long-term collateral security 436,676,272
10. Increase, decline in tangible fixed assets
Please see explanation of appendix # 02
11. Increase, decline in intangible fixed assets
Land use right Land clearance
fee
Computer
software
Total
Cost
Opening balance 9,627,543,200 2,539,772,359 36,000,000 12,203,315,559
Purchases within the period - - 12,500,000 12,500,000
Liquidation and sales - - - -
Closing balance 9,627,543,200 2,539,772,359 48,500,000 12,215,815,559
Depreciation values
Opening balance - 405,512,169 27,000,000 432,512,169
Depreciation within the
period
- 93,124,986 11,027,778 104,152,764
Liquidation and sales - - - -
Closing balance - 498,637,155 38,027,778 536,664,933
Remaining values
Opening balance 9,627,543,200 2,134,260,190 9,000,000 11,770,803,390
Closing balance 9,627,543,200 2,041,135,204 10,472,222 11,679,150,626
25
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
Address: VINACONEX building, Trung Hoa - Nhan Chinh new urban area, Thanh Xuan district, Hanoi FINANCIAL STATEMENT
For the fiscal year began on 01st January and ended on 30th November 2006
Explanation on Financial Statement (cont.)
12. In-progress fundamental construction expenses
Please see explanation of appendix # 03
13. Increase, decline in investment real estate Housing & offices
for lease
Cost
Opening balance -
Transferred from tangible fixed assets 172,384,934,736
Liquidation and sales -
Closing balance 172,384,934,736
Depreciation values
Opening balance -
Transferred from tangible fixed assets 11,668,475,074
Liquidation and sales -
Closing balance 11,668,475,074
Remaining values
Opening balance -
Closing balance 160,716,459,662
14. Investment in subsidiary companies
Names of subsidiary companies
Ratio of shares of
ownership Investment capital
Vinaconex 1 51.00% 5,610,000,000
Vinaconex 2 51.00% 10,200,000,000
Vinaconex 3 51.00% 3,172,000,000
Vinaconex 5 65.00% 13,650,000,000
Vinaconex 6 51.00% 3,346,200,000
Vinaconex 7 56.55% 4,810,000,000
Vinaconex 9 60.00% 12,600,000,000
Vinaconex 10 51.00% 1,020,000,000
Vinaconex 11 51.00% 2,610,000,000
Vinaconex 12 51.00% 2,550,000,000
Vinaconex 15 51.00% 5,355,000,000
Vinaconex 16 53.08% 3,449,550,000
Vinaconex 17 51.00% 2,550,000,000
Vinaconex 18 61.47% 1,844,100,000
Vinaconex 20 59.67% 2,686,500,000
Vinaconex 21 52.50% 3,150,000,000
Vinaconex 25 51.00% 7,140,000,000
Vinaconex Dong Thap Joint stock company 73.41% 6,607,000,000
Vinaconex 34 51.00% 3,070,000,000
Vinaconex 45 51.00% 9,300,000,000
Vimeco 51.00% 17,850,000,000
26
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
Address: VINACONEX building, Trung Hoa - Nhan Chinh new urban area, Thanh Xuan district, Hanoi FINANCIAL STATEMENT
For the fiscal year began on 01st January and ended on 30th November 2006
Explanation on Financial Statement (cont.)
Names of subsidiary companies
Ratio of shares of
ownership Investment capital
Vinaconex Sai Gon 57.27% 6,300,000,000
Vinatra 60.00% 3,000,000,000
A.T.C.V 56.00% 1,680,000,000
Vinaconsult 51.00% 1,530,000,000
Vinaconex R&D 51.00% 1,275,000,000
Vinaconex Quyet Thang 56.00% 6,160,000,000
Vinaconex Xuan Mai 51.00% 15,912,000,000
Luong Son Hoa Binh Cement Joint stock company 55.00% 5,500,000,000
Yen Binh Cement Joint stock company 66.00% 42,239,757,162
Vinamex 60.00% 3,000,000,000
Vinadecor 51.00% 2,550,000,000
Suoi Mo Hotel Joint stock company 51.00% 8,590,200,000
Vinasinco 55.00% 550,000,000
Vinavico 30.00% 10,170,100,000
Cua Dat Hydroelectricity Joint stock company 51.00% 50,490,000,000
NEDI 2 92.00% 25,021,717,756
Viwaco 51.00% 13,398,031,360
Hanoi Market 51.00% 1,650,000,000
Vinamine 100.00% 382,326,246
Chu Linh Joint stock company 51.00% 1,275,000,000
Vinasilk 51.00% 1,214,460,596
Trang Tien Plaza 90.00% 13,500,000,000
Vicostone 60.00% 18,000,000,000
Difference in capital contribution under the Minutes
on Determination of Corporate value
8,145,589,755
Total 364,104,432,875
15. Investment in joint venture, joint operation
Names of joint venture, joint operation
Ratio of shares of
ownership Investment capital
Joint operation 15,675,000,000
Security guard services Joint stock company 30.00% 300,000,000
Song Tan Joint stock company 25.00% 12,500,000,000
NEDI 3 5.00% 2,875,000,000
Joint venture 24,349,263,947
Vinaconex - Taisei Joint venture 29.00% 10,162,950,281
Vikowa 49.00% 4,325,784,813
Difference in capital contribution under the Minutes
on Determination of Corporate value
9,860,528,853
Total 40,024,263,947
27
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
Address: VINACONEX building, Trung Hoa - Nhan Chinh new urban area, Thanh Xuan district, Hanoi FINANCIAL STATEMENT
For the fiscal year began on 01st January and ended on 30th November 2006
Explanation on Financial Statement (cont.)
16. Other long-term investment
17. Long-term prepayment Please see explanation of appendix # 01
18. Short-term borrowings
Closing balance Opening balance
Investment in shares of 3630,353,196,236 21,301,015,680
Vietnam Football Development Joint stock
company (JSC)
180,000,000 180,000,000
Quang Ninh thermoelectricity JSC 2,761,753,930 2,761,753,930
Cam Pha thermoelectricity JSC 2,405,911,750 2,405,911,750
Post office Insurance JSC 1,400,000,000 1,400,000,000
Olympic Insurance JSC - 2,500,000,000
Bao Minh Insurance JSC 8,553,350,000 8,553,350,000
Viglafico JSC 500,000,000 500,000,000
Middle Electricity JSC 1,575,000,000 -
Package JSC 2,500,000,000 -
Phan Vu Concrete Company 1,600,000,000 -
Vinaconex Investment and Trading JSC 8,877,180,556 -
Kinh Dong Water supply JSC - 3,000,000,000
Investment in bonds of 2,000,000 2,000,000
Five-year education bond 2,000,000 2,000,000
Long-term lending 47,661,885,357 -
Vinadecor 500,000,000 -
Vinaconex 10 7,600,000,000 -
Vinaconex 17 4,744,402,024 -
Vinaconex Sai Gon 10,817,483,333 -
Investment fund - BIDV 24,000,000,000 -
Total 78,017,081,593 21,303,015,680
Closing balance Opening balance
Short-term borrowings
BIDV Operation center 110,748,850,799 -
Ha Tay Bank for Investment & Development 17,991,970,973 464,724,000
Cau Giay Bank for Investment & Development 15,873,417,604 3,203,151,517
Operation center of Agriculture & Rural
Development Bank
269,206,300,064 75,471,335,350
Habubank - 50,000,000
Dong Do Bank for Investment & Development 149,544,156,711 158,614,160,000
Sai Gon Agriculture & Rural Development
Bank
36,683,700,000 -
Shipping Industry Financing Company 49,966,920,556 -
Petroleum Finance Company 36,000,000,000 10,000,000,000
Borrowings from individuals 141,227,814,844 6,795,559,206
Borrowings from the Corporation 401,000,000 402,844,762
Total 827,644,131,551 304,951,774,835
28
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
Address: VINACONEX building, Trung Hoa - Nhan Chinh new urban area, Thanh Xuan district, Hanoi FINANCIAL STATEMENT
For the fiscal year began on 01st January and ended on 30th November 2006
Explanation on Financial Statement (cont.)
Details of amounts arising out of short-term borrowings:
Opening balance
Borrowings
during the year
Payments
during the year
Closing balance
Short-term borrowings 304,951,774,835 922,837,054,333 400,144,697,617 827,644,131,551
19. Payables to suppliers
20. Advances from customers
Closing balance Opening balance
Vinahud - HN 77,331,231,980 91,148,630,907
Bidding & Project Management Center 46,832,161,248 75,197,268,725
Vinaconex-Mec 299,013,764 1,083,936,725
Campha Cement Project management unit 27,119,678,833 9,181,550,435
Dung Quat BOT Water Plant 706,277,964 330,830,719
Lang - Hoa Lac Expansion Project management unit 2,250,862,653 6,081,866,152
Holiday View hotel 613,311,832 521,874,055
Buon Tuasrah Hydroelectricity Project Operative
Committee
- 12,765,199,094
Cua Dat Reservior Project Operation Committee 4,287,125,752 8,645,167,094
Da River - Hanoi Project Operation Committee 81,693,204,142 2,844,060,897
Hoa Lac High-tech Park Project management unit 8,105,606,270 -
Hoa Lac Projects Management unit 209,552,727 -
Vinahud - SG 1,023,348,258 1,800,000,000
Buon Kuop Hydropower Project management unit 4,500,000 8,416,814,346
Cai Gia Urban & Tourism Area Project management
unit
8,806,487,797 -
Bim Son Construction Techniques School 109,321,000 74,158,000
Sam Son hotel 8,015,700 8,015,700
Vung Huong Weekend Houses Project management
unit
4,047,107,000 3,547,107,000
Cam Pha Cement Grinding Station 38,995,572 -
Head office section of the Corporation 4,832,021,710 4,385,985,037
Total 268,317,824,202 226,032,465,437
Closing balance Opening balance
Vinahud - HN 284,090,576,201 332,144,588,949
Bidding & Project Management Center 578,008,941,274 242,389,192,815
Vinaconex-Mec 2,637,370,661 557,129,050
Dung Quat BOT Water Plant 954,858,899 161,934,296
Lang - Hoa Lac Expansion Project management
unit
139,654,522,000 28,081,054,095
Holiday View hotel 35,098,067 20,064,970
Buon Tua Srah Hydropower Project Operation
Committee
20,232,011,000 7,733,816,000
Cua Dat Reservior Project Operation
Committee
106,053,239,000 35,611,474,000
Hoa Lac High-tech Park Project management
unit
67,358,655,713 44,222,022,470
Buon Kuop Hydropower Project management
unit
49,071,887,000 11,048,681,000
Sam Son hotel - 31,311,367
Head office section of the Corporation 40,468,367,980 30,717,987,337
Total 1,288,565,527,795 732,719,256,349
29
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
Address: VINACONEX building, Trung Hoa - Nhan Chinh new urban area, Thanh Xuan district, Hanoi FINANCIAL STATEMENT
For the fiscal year began on 01st January and ended on 30th November 2006
Explanation on Financial Statement (cont.)
21. Taxes and payables to state budget
Opening
balance
Amounts to be
paid within the
period
Amounts already
paid within the
period
Closing
balance
VAT on domestic
goods
706,917,733 21,367,305,191 4,754,702,088 17,319,520,836
VAT on imports 209,391 526,817,102 519,353,827 7,672,666
Import, export tax (15,393,153) 262,932,107 243,885,303 3,653,651
Corporate income tax 48,046,107,806 9,247,555,133 52,063,234,619 5,230,428,320
Personal income tax 1,140,190,080 1,534,662,191 1,217,604,789 1,457,247,482
Other taxes 4,547,372,949 158,701,212 4,703,969,108 2,105,053
Total 54,425,404,806 33,107,549,936 63,502,749,734 23,984,726,498
22. Payables to employees
23. Payables
Closing balance Opening balance
Vinahud - HN 210,417,000 -
Bidding & Project Management Center 881,256,000 511,143,000
Vinaconex-Mec - 179,360,000
Campha Cement Project management unit 406,963,000 -
Dung Quat BOT Water Plant 188,186,123 71,470,757
Lang - Hoa Lac Expansion Project management
unit
357,072,600 -
Holiday View hotel 53,725,146 79,376,242
Cua Dat Reservior Project Operative
Committee
245,590,870 459,355,200
Da River - Hanoi Project Operative Committee 618,908,745 (44,636,836)
Hoa Lac High-tech Park Project management
unit
22,315,000 928,450
Campha Cement Grinding Station 466,614,664 -
Head office section of the Corporation 198,430,000 140,040,000
Total 3,649,479,148 1,397,036,813
Closing balance Opening balance
Payable expenses from loan interests 2,428,637,552 1,326,347,520
Payable expenses for maintenance of residential
apartments
44,961,488,973 37,853,798,864
Advance distribution from net costs of
residential apartments
11,604,897,225 36,877,210,973
Advance distribution from fees for registry of
land and land use right
10,134,380,000 4,681,448,000
Advance distribution from production costs
during the period
172,560,221,716 26,725,949,691
Advance distribution from equitization costs 147,015,924 -
Total 241,836,641,390 107,464,755,048
30
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
Address: VINACONEX building, Trung Hoa - Nhan Chinh new urban area, Thanh Xuan district, Hanoi FINANCIAL STATEMENT
For the fiscal year began on 01st January and ended on 30th November 2006
Explanation on Financial Statement (cont.)
24. Other short-term payables
25. Other long-term payables
Closing balance Opening balance
Assets of redundancy waiting to be handled 2,596,000 2,217,453
Social and Medical insurance 1,110,545,156 268,021,575
Trade Union funds 617,630,903 327,718,016
Short-term collateral security 5,228,453,619 -
Payables for equitization process 40,740,700 -
Unperformed turnover 83,584,485,372 89,800,178,470
Other payables 82,328,165,430 40,382,293,182
Informatics center of the City 3,234,000,000 3,234,000,000
Loan interest from Companies 21,774,389,456 13,493,839,148
Guarantee fee for share issuance 2,364,650,750 -
Interest paid for deposits of exported laborers 5,486,764,980 5,058,734,984
Head office section of the Corporation 2,519,101,187 2,519,101,187
Temporary holding of amounts resulted from
termination of overseas working contracts
3,016,507,858 1,215,176,555
Loan interest payable to employees 4,902,708,000 1,065,208,000
Viet An JSC 6,500,000,000 -
Contribution to establishment of concentrating
gas system
1,312,000,000 1,340,000,000
Payables to state budget 7,522,958,645 1,404,480,000
Truong Son Construction Corporation 2,660,998,000 -
Vinavico 1,567,922,000 18,000,000
Vimeco 1,212,300,000 18,000,000
Constrexim 1,018,584,000 -
Vinaconex 4 4,000,000,000 4,000,000,000
Other payables 13,235,280,554 7,015,753,308
Total 172,912,617,180 130,780,428,696
Closing balance Opening balance
Long-term collateral security 28,183,460,195 27,933,443,195
31
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
Address: VINACONEX building, Trung Hoa - Nhan Chinh new urban area, Thanh Xuan district, Hanoi FINANCIAL STATEMENT
For the fiscal year began on 01st January and ended on 30th November 2006
Explanation on Financial Statement (cont.)
26. Long-term borrowings
Details of amounts arising out of long-term borrowings:
Opening balance
Borrowings
during the year
Borrowings at the
end of the year
Closing balance
Long-term loans 1,011,971,285,770 2,055,627,983,448 164,586,552,541 2,903,012,716,677
Long-term liabilities 59,297,551,001 47,719,595,393 23,756,910,743 83,260,235,651
Total 1,071,268,836,771 2,103,347,578,841 188,343,463,284 2,986,272,952,328
27. Severance allowances
28. Owner’s equity Please see explanation of appendix # 04
Closing balance Opening balance
Long-term loans 2,903,012,716,677 1,011,971,285,770
Techcombank 99,092,335,689 -
Hatay BIDV 198,949,231,773 96,270,797,180
BIDV Operation Center 46,176,408,637 47,151,164,021
BIDV Thanh hoa branch 25,094,617,666 23,213,617,666
BIDV Cau giay branch 76,213,662,288 21,152,603,575
Natexis Banques Populaies Bank 33,065,075,580 -
Agribank Operation Center 43,638,389,143 3,638,389,450
BIDV Quang Ngai branch 6,771,416,026 6,400,903,366
Incombank 1,019,637,813,082 593,802,387,382
Bank of China- Ho chi minh Branch 56,221,320,292 -
SG Bank 623,670,573,936 171,977,979,922
NBP Bank 674,481,872,565 48,363,443,208
Long-term liabilities 83,260,235,651 59,297,551,001
Long-term liabilities for overseas workers
salary
35,985,198,566 35,379,258,584
Long – term liability advance services fees 46,461,286,114 23,596,243,346
Long – term liability advance social insurance
premium
350,750,971 322,049,071
Long – term liability for employees 463,000,000 -
Total 2,986,272,952,328 1,071,268,836,771
This period
Opening balance 998,934,711
Amount within the period 45,159,138
Other increase 18,279,146
Expenditure within the period 5,489,750
Other decline -
Closing balance 1,056,883,245
32
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
Address: VINACONEX building, Trung Hoa - Nhan Chinh new urban area, Thanh Xuan district, Hanoi FINANCIAL STATEMENT
For the fiscal year began on 01st January and ended on 30th November 2006
Explanation on Financial Statement (cont.)
29. Undistributed profit
This period
Undistributed profit at the beginning of the year -
Profit before tax of 2006 60,851,364,248
Non-taxed income from dividends 27,824,381,630
Taxed income within the period 33,026,982,618
Corporate income tax within the period 9,247,555,133
Expenditure deducted from profit after tax 8,288,315
Profit to be distributed 51,595,520,800
Part of financial provisions (10%) 5,159,552,080
Profit distributed from remaining funds 46,435,968,720
Profit contributed to state equity 4,939,0596,404
Profit shared from self-mobilized capital 41,496,912,316
Distributed into funds
- Investment & development fund 12,449,073,695
- Funds of Management Board 500,000,000
- Bonus and welfare funds 28,547,838,621
Undistributed profit at the end of the period -
33
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
Address: VINACONEX building, Trung Hoa - Nhan Chinh new urban area, Thanh Xuan district, Hanoi FINANCIAL STATEMENT
For the fiscal year began on 01st January and ended on 30th November 2006
Explanation on Financial Statement (cont.)
VI. SUPPLEMENTAL INFORMATION OF ITEMS PRESENTED IN THE STATEMENT OF
PERFORMANCE RESULT
1. Income
Gross sales
2. Cost of goods sales
3. Income from financial activities
4. Expenses from financial activities
This period
Total income 1,345,245,053,384
- Income from sales of goods 35,209,758,993
- Income from sales of finished products 295,022,502,030
- Income from provision of services 46,466,328,705
- Income from construction work 968,546,463,656
Deductions from income: 102,432,000
- Returned goods 102,432,000
Net income 1,345,142,621,384
Of which:
- Net income from sales of goods 35,209,758,993
- Net income from sales of finished products 295,022,502,030
- Net income from provision of services 46,466,328,705
- Net income from construction work 968,444,031,656
This period
Cost of goods supplied 33,523,636,850
Cost of finished products supplied 220,164,185,124
Cost of services provided 27,033,040,004
Cost of construction contracts 909,777,754,698
Total 1,190,498,616,676
This period
Profit from deposit accounts 5,360,580,310
Profit from lending 45,134,797,409
Dividends and profit 27,824,381,630
Profit from guarantee fee 304,044,818
Profit from differences in exchange rate 848,282,324
Profit from sales of late-payment goods 248,648,294
Total 79,720,734,785
This period
Expenses from loan interest 44,623,562,514
Loss from differences in exchange rate 626,523,433
Guarantee expenses 288,704,794
Profits payables to employees 540,987,130
Total 46,079,777,871
34
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
Address: VINACONEX building, Trung Hoa - Nhan Chinh new urban area, Thanh Xuan district, Hanoi FINANCIAL STATEMENT
For the fiscal year began on 01st January and ended on 30th November 2006
Explanation on Financial Statement (cont.)
5. Selling expenses
6. Overhead Cost
7. Income from other activities
8. Expenses from other activities
This period
Expenses for employees 269,495,602
Material costs 42,071,695
Depreciation costs 39,437,963
Maintenance costs for residential apartments 7,107,690,109
Expenses for using outside services 1,639,793,848
Other expenses in cash 7,059,353,226
Total 16,157,842,443
This period
Expenses for employees 45,116,354,352
Material costs 2,266,653,361
Depreciation costs 9,230,354,147
Distribution of business advantages and brand values 46,444,286,456
Expenses for using outside services 5,097,876,599
Other expenses in cash 11,764,669,532
Total 119,920,194,447
This period
Income from transfer and liquidation of fixed assets 9,208,878,556
Values cut down after settlement of construction works developed
by the Corporation
8,439,320,949
Income from non-object liabilities 119,560,014
Other income 393,564,773
Total 18,161,324,292
This period
Remaining values of transferred and liquidated fixed assets 9,497,952,288
Other expenses 18,932,488
Total 9,516,884,776
35
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
Address: VINACONEX building, Trung Hoa - Nhan Chinh new urban area, Thanh Xuan district, Hanoi FINANCIAL STATEMENT
For the fiscal year began on 01st January and ended on 30th November 2006
Explanation on Financial Statement (cont.)
VII. OTHER INFORMATION
1. Changes in accounting policy
In 2006, Head Office Section of Vinaconex applied accounting principles issued accompanied with
Decision No. 12/2005/QD-BTC dated 15th Ferbuary 2005 and Decision No. 100/2005/QD-BTC dated
28th December 2005 by Ministry of Finance and Circular No. 20/2006/TT-BTC dated 20th March
2006 and Circular No. 21/2006/TT-BTC dated 20th March 2006 guiding for implementation of the
above – said Decisions by Ministry of Finance:
VAS 11 Business unification
VAS 17 Corporate income tax
VAS 18 Provisions, assets and potential liabilities
VAS 23 Events occurred after the ending date of an accounting year
VAS 27 Mid-year financial statement
VAS 28 Part report
VAS 29 Changes in accounting policy, accounting estimation and errors
VAS 30 Profit per share
2. Criteria for overall evaluation of financial status and business performance of the Corporation
Criteria Unit This period
Asset and Capital Structure
Asset structure
Current asset/ Total asset % 51.93
Long-term asset/ Total asset % 48.07
Capital structure
Payables/ Total resources % 84.14
Owner’s equity/ Total resources % 15.86
Capability of payment
Current payment capability Times 1.19
Capability of payment for short-term borrowings Times 1.08
Capability of quick payment Times 0.27
Profitability Ratio
Profit over income Ratio
Profit before tax over net income ratio % 4.22
Profit after tax over net income ratio % 3.58
Profit over total asset Ratio
Profit before tax over total asset Ratio % 0.66
Profit after tax over total asset Ratio %
Profit after tax over owner’s equity Ratio %
36
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
Address: VINACONEX building, Trung Hoa - Nhan Chinh new urban area, Thanh Xuan district, Hanoi FINANCIAL STATEMENT
For the fiscal year began on 01st January and ended on 30th November 2006
Explanation on Financial Statement (cont.)
3. Information for reference and comparison
The financial statement of the previous year was audited by the Auditing and Consulting Joint Stock
Company Branch in Hanoi.
The 2006 fiscal year comprised of 11 months only, therefore the statement of performance result of
the year 2006 did not include a column for comparison with the previous year.
Several items included in the financial statement of the previous year were classified in conformity
with the financial statement of the current year.
Hanoi, dated 25th December 2006
Prepared by
(signed)
Nguyen Quynh Trang
Chief Accountant
(signed)
Nguyen Dinh Thiet
General Director
(signed)
Truong Quang Nghia
37
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
Address: VINACONEX building, Trung Hoa - Nhan Chinh new urban area, Thanh Xuan district, Hanoi FINANCIAL STATEMENT (cont.)
For the fiscal year began on 01st January and ended on 30th November 2006
APPENDIX 01: PREPAYMENT EXPENSES
Short-term prepayment expenses
Opening balance
Increase
within the period
Transferred into
production costs
within the period
Transferred into
values of
construction work
Closing balance
Tools and devices 5,214,517,007 3,091,166,558 4,764,517,007 450,000,000 3,091,166,558
Expenses waiting to be distributed 4,897,616,738 22,705,821,575 806,891,487 911,069,234 25,885,477,592
Total 10,112,133,745 25,796,988,133 5,571,408,494 1,361,069,234 28,976,644,150
Long-term prepayment expenses
Opening balance
Increase
within the period
Transferred into
rade name value
for capital
contribution
Transferred into
values of
construction work
Closing balance
Tools and devices 71,797,048 410,678,561 38,526,679 - 443,948,930
Campha Cement Grinding Station 337,116,896 337,116,896
Dung Quat BOT Water Plant 29,767,678 73,561,665 38,526,679 64,802,664
Buon Tua Srah Project Operation
Committee
42,029,370 - - 42,029,370
Land rental fee 1,832,426,253 - 96,443,487 - 1,735,982,766
Value of business advantages 98,599,482,949 - 30,962,857,637 - 67,636,625,312
Trade name value 53,400,000,000 - 15,481,428,819 1,500,000,000 36,418,571,181
Operation costs for Management 4,197,124,879 7,630,305,520 4,197,124,879 - 7,630,305,520
Total 158,100,831,129 8,040,984,081 50,776,381,501 1,500,000,000 113,865,433,709
38
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
Address: VINACONEX building, Trung Hoa - Nhan Chinh new urban area, Thanh Xuan district, Hanoi FINANCIAL STATEMENT (cont.)
For the fiscal year began on 01st January and ended on 30th November 2006
APPENDIX 02: INCREASE & DECLINE IN FIXED ASSETS AND DEPRECIATION COSTS WITHIN THE PERIOD
(According to types of fixed assets)
Items
Housing &
architecture
objects
Machinery &
equipments
Means of
transportation
&
communication
Office devices
Other
tangible FA
Total tangible
FA
I. COSTS
1. Opening balance 245,719,618,145
24,925,782,270 40,165,128,877 10,203,586,967 1,891,623,201 322,905,739,460
- Increase due to new purchase &
investment
16,990,000
3,581,027,965 2,784,533,636 3,709,508,442 55,428,571 10,147,488,614
- Increase due to new construction 7,177,281,978
- - - - 7,177,281,978
- Increase due to re-classification 22,702,273
550,849,738 362,362,467 56,609,524 - 992,524,002
- Decline due to liquidation 11,819,871,200
134,651,000 533,841,545 39,146,850 - 12,527,510,595
- Decline due to re-classification 172,384,934,736
- - 395,503,031 - 172,780,437,767
- Decline due to contribution of capital 1,397,177,608
- - 114,348,634 - 1,511,526,242
4. Closing balance 67,334,608,852
28,923,008,973 42,778,183,435 13,420,706,418 1,947,051,772 154,403,559,450
II. ACCUMULATED DEPRECIATION
1. Opening balance 17,831,952,437
5,729,376,534 16,463,391,863 7,660,441,392 234,322,900 47,919,485,126
- Depreciation within the year 10,278,892,415
5,486,665,219 5,335,889,379 2,682,206,026 260,275,499 24,043,928,538
- Increase due to re-classification 34,635,014
474,431,516 204,603,815 - - 713,670,345
- Decline due to liquidation 2,321,918,912
121,185,900 406,449,456 30,123,896 - 2,879,678,164
- Decline due to re-classification 11,668,475,074
414,356,573 1,370,454,485 449,786,359 - 13,903,072,491
4. Closing balance 14,155,085,880
11,154,930,796 20,226,981,116 9,862,737,163 494,598,399 55,894,333,354
III. REMAINING VALUES
1.At the first day of the year 227,887,665,708
19,196,405,736 23,701,737,014 2,543,145,575 1,657,300,301 274,986,254,334
2. At the last day of the year 53,179,522,972
17,768,078,177 22,551,202,319 3,557,969,255 1,452,453,373 98,509,226,096
39
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
Address: VINACONEX building, Trung Hoa - Nhan Chinh new urban area, Thanh Xuan district, Hanoi FINANCIAL STATEMENT (cont.)
For the fiscal year began on 01st January and ended on 30th November 2006
APPENDIX 03: IN-PROGRESS FUNDAMENTAL CONSTRUCTION
Opening balance
Increase
within the period
Transferred into an
increase in FA
within the period
Transferred into
production costs
within the period Closing balance
Purchases of FA - 32,256,222 32,256,222 - -
In-progress fundamental construction 1,314,055,145,241 2,385,351,471,418 17,283,710,151 43,564,350,577 3,638,559,555,931
Thao Dien Mix-used Residential Complex 175,867,934,981 53,918,882,844 - - 229,786,817,825
Cai Gia - Cat Ba Urban Area 18,257,953,792 11,938,261,329 - 57,000,000 30,139,215,121
North Phu Cat Industrial Zone 9,365,361,507 6,301,985,121 - - 15,667,346,628
Fashion Center Building 7,993,911,107 863,684,432 - 3,338,698 8,854,256,841
Primary School Construction work 19,670,156,862 483,322,600 - 126,744,076 20,026,735,386
Construction of Schools 31,275,256,121 3,306,643,973 - 115,998,498 34,465,901,596
Administrative Headquarter Construction work 3,217,419,099 - - 3,217,419,099 -
Service center & Stores Construction work 8,570,071,312 3,481,425,113 - 7,313,274,978 4,738,221,447
High-rise Construction work 17,283,710,151 - 17,283,710,151 - -
Hoa Lac High-tech Park Construction work 4,675,029,919 58,497,944,738 - - 63,172,974,657
Da River Water Supply Construction work 94,955,419,495 229,285,535,513 - - 324,240,955,008
Dung Quat Hospital Infrastructure Project 38,273,700 - - - 38,273,700
Expenses for removal of Binh Long – Dung Quat
pipe system
- 4,300,000 - - 4,300,000
Expanded Dung Quat Water Plant 590,324,388 - - - 590,324,388
Chu Linh Coc San Hydroelectricity 8,648,590,119 - - 8,648,590,119 -
High-intensity Steel Lamination Factory 4,792,982,125 3,466,616,029 - 8,259,598,154 -
40
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
Address: VINACONEX building, Trung Hoa - Nhan Chinh new urban area, Thanh Xuan district, Hanoi FINANCIAL STATEMENT (cont.)
For the fiscal year began on 01st January and ended on 30th November 2006
APPENDIX 03: IN-PROGRESS FUNDAMENTAL CONSTRUCTION
Opening balance
Increase
within the period
Transferred into an
increase in FA
within the period
Transferred into
production costs
within the period Closing balance
Ngoi Phat Hydroelectricity 3,929,956,196 - - 3,929,956,196 -
Thanh Hoa Plaza 42,197,484,800 11,905,109,387 - 784,388,727 53,318,205,460
Ngoi Bo Hydroelectricity Plant 1,930,355,360 - - 1,930,355,360 -
Ha Dong Trade Center 4,334,210,701 5,500,000,000 - 1,004,768,061 8,829,442,640
Nghe An Trade Center 99,678,600 - - - 99,678,600
Vinh Phuc Residential Apartment 70,695,278 - - - 70,695,278
Apartment for employees & staff 195,099,000 39,115,936 - - 234,214,936
Head Office Construction work - 3,412,214,970 - - 3,412,214,970
Tay Tra Bong Water Supply 6,230,468,492 1,284,439,042 - - 7,514,907,534
Lang Hoa Lac Highway 47,842,851,044 240,237,847,175 - - 288,080,698,219
Vung Huong Weekend Houses Construction work 10,145,051,088 517,788,226 - - 10,662,839,314
Construction of Trade Centers - 274,381,514 - - 274,381,514
Campha Cement Plant 791,876,900,004 1,750,631,973,476 - 8,172,918,611 2,534,335,954,869
Total 1,314,055,145,241 2,385,383,727,640 17,315,966,373 43,564,350,577 3,638,558,555,931
41
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
Address: VINACONEX building, Trung Hoa - Nhan Chinh new urban area, Thanh Xuan district, Hanoi FINANCIAL STATEMENT (cont.)
For the fiscal year began on 01st January and ended on 30th November 2006
APPENDIX 04: OWNER’S EQUITY
Capital
contribution Surplus of equity
Investment &
Development fund
Financial
Provision fund
Opening balance 1,072,521,709,157
Increase in capital due to re-assessment of assets contributed into
Vinaconex Xuan Mai Concrete JSC
3,460,473,758
Increase due to state equity in surplus of Vicostone 39,372,378
Increase due to record of capital contribution into Vicostone 16,500,000,000
Increase due to transfers from Corporate Arrangement Supporting fund
Increase due to profit shared of 11 months 4,939,056,404 12,449,073,695 5,159,552,080
Other increases of Xuan Hoa School 92,668,916
Increase of equity of shareholders 549,495,630,000
Differences in sales of stocks 813,129,969,830
Decline in guarantee fee for share issuance (2,364,650,750)
Decline due to reduction of actual dividends in comparison with
estimated amount during valuation process of Corporate values
(14,368,721,642)
- Vinaconex 25 (745,302,259)
- Luong Son Cement Company (278,067,506)
- Trang Tien Trading Company (3,798,529,473)
- Other companies (9,546,822,404)
Decline in differences in state equity
- Head Office section of the Corporation
- Other subsidiaries & dependent units
Closing balance of the period 1,632,640,816,593 810,765,319,080 12,488,446,073 5,159,552,080
42
VIETNAM CONSTRUCTION & IMPORT - EXPORT CORPORATION (HEAD OFFICE SECTION)
Address: VINACONEX building, Trung Hoa - Nhan Chinh new urban area, Thanh Xuan district, Hanoi FINANCIAL STATEMENT (cont.)
For the fiscal year began on 01st January and ended on 30th November 2006
APPENDIX 05: EQUITIZATION EXPENSES
No. Items Amount
1 Consultancy expenses 348,974,091
2 Expenses for determination of corporate values before equitization 563,636,363
3 Expenses for setting up equitization plan 79,650,000
4 Expenses for shareholder’s meeting 72,581,256
5 Other expenses 144,467,924
Total 1,209,309,634
43
Financial Statement of subsidiaries & dependant units BALANCE SHEET
As of 30th November 2006
ASSETS Code Vinahud - HN
Bidding &
Project
management
center
Vinaconex-
Mec
Campha
Cement
Project
management
unit
Dung Quat
BOT Water
Plant
Lang - Hoa
Lac Expansion
Project
management
unit
A - SHORT-TERM ASSETS 100 453,217,980,093 782,433,125,127 143,958,631,397 53,546,375,832 4,656,539,357 348,343,032,875
I. Cash & equivalent amounts 110 7,383,689,019 31,325,395,514 21,659,287,787 39,095,691,968 444,903,823 10,518,420,938
1. Cash in hand 111 7,383,689,019 31,325,395,514 16,053,187,787 39,095,691,968 444,903,823 10,518,420,938
2. Cash equivalent amounts 112 - - 5,606,100,000 - - -
II. Short-term financial investments 120 - 9,061,399,099 46,415,734,200 - - -
1. Short-term investment in securities 121 - 9,061,399,099 46,415,734,200 - - -
2. Provision for the diminution in value of
short-term investments
129 - - - - - -
III. Receivables 130 131,538,422,008 433,765,008,535 70,652,933,574 1,739,405,760 2,224,409,054 303,212,132,875
1. Receivables from customers 131 84,080,525,577 72,748,361,328 1,915,039,445 - 2,030,520,357 -
2. Prepayment to suppliers 132 35,863,239,154 358,101,845,385 696,936,487 1,703,948,110 179,655,961 292,260,797,220
3. Inter-company receivables 133 6,736,062,248 - 66,455,102,497 - - -
4. Receivables according to construction
agreement's schedule
134 - - - - - -
5. Other receivables 138 4,858,595,029 2,914,801,822 1,585,855,145 35,457,650 14,232,736 10,951,335,655
6. Provision for bad debts 139 - - - - - -
IV. Inventories 140 314,240,919,066 299,777,814,306 4,048,334,138 13,374,087 1,616,453,224 14,640,090,514
1. Inventories 141 314,240,919,066 299,777,814,306 4,048,334,138 13,374,087 1,616,453,224 14,640,090,514
2. Provision for decline in inventories 149 - - - - - -
V. Other current assets 150 54,950,000 8,503,507,673 1,182,341,698 12,697,904,017 370,773,256 19,972,388,548
1. Short-term prepayment expenses 151 - 77,915,176 - - - 19,515,756,182
2. Deducted value-added tax 152 - 1,746,151,558 527,535,282 12,421,815,017 - -
3. Taxes and other receivables from the
Government
154
- - - - - 7,520,389
4. Other current assets 158 54,950,000 6,679,440,939 654,806,416 276,089,000 370,773,256 449,111,977
44
Financial Statement of subsidiaries & dependant units BALANCE SHEET
As of 30th November 2006
ASSETS Code Vinahud - HN
Bidding & Project
management center
Vinaconex-Mec
Campha Cement Project
management unit
Dung Quat BOT Water
Plant
Lang - Hoa Lac
Expansion Project
management unit
B - LONG-TERM ASSETS 200 92,785,941,746 2,018,118,747 1,051,064,366 2,534,335,954,869 29,281,341,410 289,231,277,596
I. Long-term recivables 210 - - 436,676,272 - - -
1. Long-term receivables from customers 211 - - - - - -
2. Operation capital of dependant units 212 - - - - - -
3. Long-term inter-company receivables 213 - - - - - -
4. Other long-term receivables 218 - - 436,676,272 - - -
5. Provisions for long-term bad debts 219 - - - - -
II. Fixed assets 220 69,124,056,389 2,018,118,747 614,388,094 2,534,335,954,869 29,216,538,746 289,231,277,596
1. Tangible fixed assets 221 1,038,941,119 2,018,118,747 614,388,094 - 27,132,829,842 1,140,857,155
Origin Cost 222 1,906,938,005 3,694,980,566 1,719,096,398 6,453,875,816 35,043,414,033 2,904,956,114
Accumulated depreciation 223 (867,996,886) (1,676,861,819) (1,104,708,304) (6,453,875,816) (7,910,584,191) (1,764,098,959)
2 Financial lease assets 224 - - - - - -
Origin Cost 225 - - - - - -
Accumulated depreciation 226 - - - - - -
3. Intangible fixed assets 227 - - - - 2,041,135,204 9,722,222
Origin Cost 228 - - - - 2,539,772,359 12,500,000
Accumulated depreciation 229 - - - - (498,637,155) (2,777,778)
4. In-progress fundamental construction expenses
230 68,085,115,270 - - 2,534,335,954,869 42,573,700 288,080,698,219
III. Investment real estate 240 - - - - - -
Cost 241 - - - - - -
Accumulated depreciation 242 - - - - - -
IV. Long-term financial investment 250 23,661,885,357 - - - - -
1. Investment in subsidiary companies 251 - - - - - -
2. Investment in joint venture, joint operation companies
252 - - - - - -
3. Other long-term investment 258 23,661,885,357 - - - - -
4. Provision for the diminution in value of long - term investments
259 - - - - - -
V. Other long-term assets 260 - - - - 64,802,664 -
1. Long-term prepayment 261 - - - - 64,802,664 -
2. Deferred income taxes 262 - - - - - -
3. Other long-term assets 268 - - - - - -
TOTAL RESOURCES 270 546,003,921,839 784,451,243,873 145,009,695,763 2,587,882,330,701 33,937,880,767 637,574,310,471
45
Financial Statement of subsidiaries & dependant units BALANCE SHEET
As of 30th November 2006
EQUITY Code Vinahud - HN
Bidding & Project management
center Vinaconex-Mec
Campha Cement Project
management unit
Dung Quat BOT Water
Plant
Lang - Hoa Lac Expansion Project management unit
A - LIABILITIES 300 344,577,121,050 761,701,152,484 126,167,594,656 2,640,939,043,729 41,164,979,225 659,928,995,744
I. Current Liabilities 310 245,420,799,282 761,701,152,484 15,153,450,997 28,046,570,953 40,689,098,494 659,928,995,744
1. Short-term borrowings 311 95,230,556,000 36,000,000,000 - - - -
2. Payables to suppliers 312 77,331,231,980 46,832,161,248 299,013,764 27,119,678,833 706,277,964 2,250,862,653
3. Advances from customers 313 284,090,576,201 578,008,941,274 2,637,370,661 - 954,858,899 139,654,522,000
4. Taxes and payables to state budget 314 47,064,600 (17,126,813) 37,413,560 20,025,057 21,792,272 9,115,737,701
5. Payables to employees 315 210,417,000 881,256,000 - 406,963,000 188,186,123 357,072,600
6. Payable expenses 316 66,700,766,198 93,834,268,283 229,520,086 - 488,106,860 76,196,591,240
7. Inter-company payables 317 (300,346,307,000) 5,841,062,077 - - 37,163,679,130 432,050,336,675
8.
Payables according to construction
agreement's schedule
318 - - - - - -
9. Other payables 319 22,156,494,303 320,590,415 11,950,132,926 499,904,063 1,166,197,246 303,872,875
10. Provision for short-term payables 320 - - - - - -
II. Long-term liabilities 330 99,156,321,768 - 111,014,143,659 2,612,892,472,776 475,880,731 -
1. Long-term payables to suppliers 331 - - - - - -
2. Long-term inter-company payables 332 - - - 295,102,213,193 - -
3. Other long-term payables 333 - - 28,183,460,195 - - -
4. Long-term borrowings 334 99,092,335,689 - 82,797,235,651 2,317,790,259,583 463,000,000 -
5. Payable deferred income taxes 335 - - - - - -
6. Provision for severance allowances 336 63,986,079 - 33,447,813 - 12,880,731 -
7. Provision for long-term payables 337 - - - - - -
B - OWNER'S EQUITY 400 201,426,800,789 22,750,091,389 18,842,101,107 (53,056,713,028) (7,227,098,458) (22,354,685,273)
I. Owner's equity 410 201,308,638,789 23,646,482,949 18,842,101,107 (53,056,713,028) (7,227,098,458) (22,229,385,273)
1. Owner's investment capital 411 15,672,838,949 404,934,741 216,124,009 - 715,199,691 -
2. Surplus of equity capital 412 - - - - - -
6. Foreign exchange differences 416 - - - (53,056,713,028) - -
7. Business development funds 417 - - - - - -
8. Financial reserve funds 418 - - - - - -
10. Undistributed profits 420 185,635,799,840 23,241,548,208 18,625,977,098 - (7,942,298,149) (22,229,385,273)
II. Other funds and expenses 430 118,162,000 (896,391,560) - - - (125,300,000)
1. Bonus and welfare funds 431 118,162,000 (896,391,560) - - - (125,300,000)
2. Resources for expenses 432 - - - - - -
TOTAL RESOURCES 440 546,003,921,839 784,451,243,873 145,009,695,763 2,587,882,330,701 33,937,880,767 637,574,310,471
46
Financial Statement of subsidiaries & dependant units BALANCE SHEET
As of 30th November 2006
ASSETS Code
Holiday View
Hotel
Buon Tua
Srah Hydro
Power
Operatiion
Committee
Cua Dat
Reservior
Project
Operation
Committee
Da River –
Hanoi Water
Project
management
unit
Hoa Lac High-
tech Park
Investment
and
Construction
PMU
Hoa Lac
Projects
management
unit
A - SHORT-TERM ASSETS 100 1,638,267,675 29,775,330,820 107,591,406,961 119,080,415,652 12,323,698 99,882,417,625
I. Cash & equivalent amounts 110 633,804,753 1,344,823,836 18,704,630,833 3,163,555,363 39,975,790 55,609,001
1. Cash in hand 111 633,804,753 1,344,823,836 18,704,630,833 2,163,555,363 39,975,790 55,609,001
2. Cash equivalent amounts 112 - - - 1,000,000,000 - -
II. Short-term financial investments 120 - - - - - -
1. Short-term investment in securities 121 - - - - - -
2. Provision for the diminution in value of
short-term investments
129 - - - - - -
III. Receivables 130 418,398,796 21,714,557,526 88,100,841,128 15,199,070,875 12,268,755,658 99,793,014,875
1. Receivables from customers 131 408,619,397 - 3,965,125,575 - - -
2. Prepayment to suppliers 132 4,140,000 21,706,866,686 83,683,239,000 4,553,941,176 4,354,147,438 924,000,000
3. Inter-company receivables 133 - - - - 7,525,423,927 -
4. Receivables according to construction
agreement's schedule
134 - - - - - -
5. Other receivables 138 5,639,399 7,690,840 452,476,553 10,645,129,699 389,184,293 98,869,014,875
6. Provision for bad debts 139 - - - - - -
IV. Inventories 140 329,883,739 3,862,394,471 - 88,173,138,838 - -
1. Inventories 141 329,883,739 3,862,394,471 - 88,173,138,838 - -
2. Provision for decline in inventories 149 - - - - - -
V. Other current assets 150 256,180,387 2,853,554,987 785,935,000 12,544,650,576 14,589,250 33,793,749
1. Short-term prepayment expenses 151 763,000 2,794,576,582 - - 2,760,000 -
2. Deducted value-added tax 152 - - - 12,544,650,576 - 26,293,749
3. Taxes and other receivables from the
Government
154 3,957,834 - - - 8,829,250 -
4. Other current assets 158 251,459,553 58,978,405 785,935,000 - 3,000,000 7,500,000
47
Financial Statement of subsidiaries & dependant units BALANCE SHEET
As of 30th November 2006
ASSETS Code
Holiday View
Hotel
Buon Tua Srah
Hydro Power
Operatiion
Committee
Cua Dat
Reservior
Project
Operation
Committee
Da River –Hanoi
Water Project
management
unit
Hoa Lac High-
tech Park
Investment and
Construction
PMU
Hoa Lac
Projects
management
unit
B - LONG-TERM ASSETS 200 43,257,264,101 1,340,582,575 8,726,321,720 324,240,955,008 63,172,974,657 15,667,346,628
I. Long-term receivables 210 - - - - - -
1. Long-term receivables from customers 211 - - - - - -
2. Operation capital of dependant units 212 - - - - - -
3. Long-term inter-company receivables 213 - - - - - -
4. Other long-term receivables 218 - - - - - -
5. Provisions for long-term bad debts 219 - - - - - -
II. Fixed assets 220 43,257,264,101 1,298,553,205 1,096,016,200 324,240,955,008 63,172,974,657 15,667,346,628
1. Tangible fixed assets 221 43,257,264,101 1,298,553,205 1,096,016,200 - - -
Origin Cost 222 50,589,018,023 1,980,821,372 1,813,618,489 1,025,910,618 479,800,758 (419,534,135)
Accumulated depreciation 223 (7,331,753,922) (682,268,167) (717,602,289) (1,025,910,618) (479,800,135) (419,354,135)
2 Financial lease assets 224 - - - - - -
Origin Cost 225 - - - - - -
Accumulated depreciation 226 - - - - - -
3. Intangible fixed assets 227 - - - - - -
Origin Cost 228 - - - - - -
Accumulated depreciation 229 - - - - - -
4. In-progress fundamental construction expenses
230 - - - 324,240,955,008 63,172,974,657 15,667,346,628
III. Investment in real estate 240 - - - - - -
Cost 241 - - - - - -
Accumulated depreciation 242 - - - - - - -
IV. Long-term financial investment 250 - - - - - -
1. Investment in subsidiary companies 251 - - - - - -
2. Investment in joint venture, joint operation companies
252
- - - - - -
3. Other long-term investment 258 - - - - - -
4. Provision for the diminution in value of long - term investments
259 - - - - - -
V. Other long-term assets 260 - 42,029,370 7,630,305,520 - - -
1. Long-term prepayment 261 - 42,029,370 7,630,305,520 - - -
2. Deferred income taxes 262 - - - - - -
3. Other long-term assets 268 - - - - - -
TOTAL RESOURCES 270 44,895,531,776 31,115,913,395 116,317,728,681 443,321,370,660 75,496,295,355 115,549,764,253
48
Financial statement of subsidiaries & dependant units BALANCE SHEET
As of 30th November 2006
EQUITY Code Holiday View
Hotel
Buon Tua Srah Hydro Power
Operatiion Committee
Cua Dat Reservior Project Operation
Committee
Da River –Hanoi Water Project
management unit
Hoa Lac High-tech Park Investment and Construction
PMU Hoa Lac Projects management unit
A - LIABILITIES 300 61,737,848,116 31,115,913,367 113,383,209,462 444,504,331,279 75,496,295,355 115,549,764,253
I. Current Liabilities 310 11,215,530,776 31,115,913,367 113,383,209,462 189,046,265,818 75,496,295,355 115,549,764,253
1. Short-term borrowings 311 32,649,638 - - 33,865,388,577 - -
2. Payables to suppliers 312 613,311,832 - 4,287,125,752 81,693,204,142 8,105,606,270 209,552,727
3. Advances from customers 313 35,098,067 20,232,011,000 106,053,239,000 - 67,358,655,713 -
4. Taxes and payables to state budget 314 37,835,105 119,134,467 90,572,469 - - -
5. Payables to employees 315 53,725,146 - 245,590,870 618,908,745 22,315,000 -
6. Payable expenses 316 - 498,174,626 108,298,200 2,448,734,552 - -
7. Inter-company payables 317 10,345,980,329 3,084,830,039 2,332,311,685 62,736,024,478 - 115,337,851,526
8. Payables according to construction agreement's schedule
318 - - - - - -
9. Other payables 319 96,930,659 7,181,763,235 266,071,486 7,684,005,324 9,718,372 2,360,000 10. Provision for short-term payables 320 - - - - - -
II. Long-term liabilities 330 50,522,317,340 - - 255,458,065,461 - -
1. Long-term payables to suppliers 331 - - - - - -
2. Long-term inter-company payables 332 50,487,993,801 - - - - -
3. Other long-term payables 333 - - - - - -
4. Long-term borrowings 334 - - - 255,458,065,461 - -
5. Payable deferred income taxes 335 - - - - - - 6. Provision for severance allowances 336 34,323,539 - - - - - 7. Provision for long-term payables 337 - - - - - -
B - OWNER'S EQUITY 400 (16,842,316,340) 28 2,934,519,219 (1,182,960,618) - -
I. Owner's equity 410 (16,842,316,340) 28 2,934,519,219 (1,182,960,618) - -
1. Owner's investment capital 411 - 28 (6,104,816) - - -
2. Surplus of equity capital 412 - - - - - -
6. Foreign exchange differences 416 - - - (1,182,960,618) - -
7. Business development funds 417 - - - - - -
8. Financial reserve funds 418 - - - - - -
10. Undistributed profits 420 (16,842,316,340) - 2,940,624,035 - - -
II. Other funds and expenses 430 - - - - - -
1. Bonus and welfare funds 431 - - - - - -
2. Resources for expenses 432 - - - - - -
TOTAL RESOURCES 440 44,895,531,776 21,115,913,395 116,317,728,681 443,321,370,660 75,496,295,355 115,549,764,253
49
Financial Statement of subsidiaries & dependant units BALANCE SHEET
As of 30th November 2006
ASSETS Code Vinahud-SG
Buon Kuop
Hydroelectrici
ty Project
management
unit
Cai Gia Urban
Tourism Area
Project
management
unit
Bim Son
Construction
Techniques
School Sam Son Hotel
Xuan Hoa
Construction
Techniques
School
A - SHORT-TERM INVESTMENT 100 2,303,111,054 52,234,022,094 156,574,802 3,490,666,989 30,910,332 868,236,681
I. Cash & equivalent amounts 110 1,107,130,245 7,028,241,538 51,873,048 3,252,485,351 17,822,947 848,236,681
1. Cash in hand 111 1,107,130,245 7,028,241,538 51,873,048 3,252,485,351 17,822,947 848,236,681
2. Cash equivalent amounts 112 - - - - - -
II. Short-term financial investments 120 - - - - - -
1. Short-term investment in securities 121 - - - - - -
2. Provision for the diminution in value of
short-term investments
129 - - - - - -
III. Receivables 130 716,824,546 41,573,135,728 20,000,000 46,200,400 6,214,385 -
1. Receivables from customers 131 - - - 12,234,125 2,500,000 -
2. Prepayment to suppliers 132 698,777,400 41,554,717,506 20,000,000 - 3,714,385 -
3. Inter-company receivables 133 - - - - - -
4. Receivables according to construction
agreement's schedule
134 - - - - - -
5. Other receivables 138 18,047,146 18,418,222 - 33,966,275 - -
6. Provision for bad debts 139 - - - - - -
IV. Inventories 140 4,436,364 - - 73,685,188 6,873,000 -
1. Inventories 141 4,436,364 - - 73,685,188 6,873,000 -
2. Provision for decline in inventories 149 - - - - - -
-
V. Other current assets 150 474,719,899 3,632,644,828 84,701,754 118,296,050 - 20,000,000
1. Short-term prepayment expenses 151 - 3,575,144,828 - - - -
2. Deducted value-added tax 152 443,719,899 - 79,701,754 - - -
3. Taxes and other receivables from the
Government
154 - - - - - -
4. Other current assets 158 31,000,000 57,500,000 5,000,000 118,296,050 - 20,000,000
50
Financial Statement of subsidiaries & dependant units BALANCE SHEET
As of 30th November 2006
ASSETS Code Vinahud-SG
Buon Kuop
Hydropower
Project
management
unit
Cai Gia
Urban
Tourism Area
Project
management
unit
Bim Son
Construction
Techniques
School Sam Son Hotel
Xuan Hoa
Construction
Techniques
School
B - LONG-TERM INVESTMENT 200 229,973,341,987 758,075,393 30,139,215,121 4,075,150,834 - 3,313,465,173
I. Long-term receivables 210 - - - - - -
1. Long-term receivables from customers 211 - - - - - -
2. Operation capital of dependant units 212 - - - - - -
3. Long-term inter-company receivables 213 - - - - - -
4. Other long-term receivables 218 - - - - - -
5. Provisions for long-term bad debts 219 - - - - - -
II. Fixed assets 220 229,973,341,987 758,075,393 30,139,215,121 4,075,150,834 - 3,313,465,173
1. Tangible fixed assets 221 186,524,162 758,075,393 - 4,075,150,834 - 3,313,465,173
Origin Cost 222 432,822,500 1,517,017,809 440,115,882 7,458,489,700 - 7,201,733,044
Accumulated depreciation 223 (246,298,338) (758,942,416) (440,115,882) (3,383,338,866) - (3,888,267,871)
2 Financial lease assets 224 - - - - - -
Origin Cost 225 - - - - - -
Accumulated depreciation 226 - - - - - -
3. Intangible fixed assets 227 - - - - - -
Origin Cost 228 - - - - - -
Accumulated depreciation 229 - - - - - -
4. In-progress fundamental construction expenses
230 229,786,817,825 - 30,139,215,121 - - -
III. Investment in real estate 240 - - - - - -
Cost 241 - - - - - -
Accumulated depreciation 242 - - - - - - -
IV. Long-term financial investment 250 - - - - - -
1. Investment in subsidiary companies 251 - - - - - -
2. Investment in joint venture, joint operation companies
252
- - - - - -
3. Other long-term investment 258 - - - - - -
4. Provision for the diminution in value of long - term investments
259 - - - - - -
V. Other long-term assets 260 - - - - - -
1. Long-term prepayment 261 - - - - - -
2. Deferred income taxes 262 - - - - - -
3. Other long-term assets 268 - - - - - -
TOTAL RESOURCES 270 232,276,453,041 52,992,097,487 30,295,789,923 7,565,817,823 30,910,332 4,181,701,854
51
Financial Statement of subsidiaries & dependant units BALANCE SHEET
As of 30th November 2006
ASSETS Code Vinahud-SG
Buon Kuop Hydropower
Project management
unit
Cai Gia Urban Tourism Area
Project management
unit
Bim Son Construction
Techniques School Sam Son Hotel
Xuan Hoa
Construction Techniques
School
A - LIABILITIES 300 232,276,453,041 52,918,234,862 30,295,789,923 920,805,844 583,906,102 740,124,408
I. Current Liabilities 310 232,276,453,041 52,918,234,862 30,295,789,923 920,805,844 583,906,102 740,124,408
1. Short-term borrowings 311 - - - 401,000,000 50,359,000 -
2. Payables to suppliers 312 1,023,348,258 4,500,000 8,806,487,797 109,321,000 8,015,700 -
3. Advances from customers 313 - 49,071,887,000 - - - -
4. Taxes and payables to state budget 314 25,538,423 37,925,939 - - 9,614,673 -
5. Payables to employees 315 - - - - - -
6. Payable expenses 316 - 1,185,165,421 - - - -
7. Inter-company payables 317 231,216,828,773 2,616,336,343 21,489,302,126 - 435,260,132 417,803,086
8. Payables according to construction agreement's schedule
318 - - - - - -
9. Other payables 319 10,737,587 2,420,159 - 410,484,844 80,656,597 322,321,322 10. Provision for short-term payables 320 - - - - - -
II. Long-term liabilities 330 - - - - - -
1. Long-term payables to suppliers 331 - - - - - -
2. Long-term inter-company payables 332 - - - - - -
3. Other long-term payables 333 - - - - - -
4. Long-term borrowings 334 - - - - - -
5. Payable deferred income taxes 335 - - - - - - 6. Provision for severance allowances 336 - - - - - - 7. Provision for long-term payables 337 - - - - - -
B - OWNER'S EQUITY 400 - 73,862,625 - 6,645,011,979 (552,995,770) 3,441,577,446
I. Owner's equity 410 - 73,862,625 - 3,214,285,778 (552,995,770) 3,603,053,254
1. Owner's investment capital 411 - 73,862,625 - 3,214,285,778 (4,062,624) 3,603,053,254
2. Surplus of equity capital 412 - - - - - -
6. Foreign exchange differences 416 - - - - - -
7. Business development funds 417 - - - - - -
8. Financial reserve funds 418 - - - - - -
10. Undistributed profits 420 - - - - (548,933,146) -
II. Other funds and expenses 430 - - - 3,430,726,201 - (161,475,808)
1. Bonus and welfare funds 431 - - - (12,642,722) - 9,889,192
2. Resources for expenses 432 - - - 3,443,368,923 - (171,365,000)
TOTAL RESOURCES 440 232,276,453,041 52,992,097,487 30,295,789,923 7,565,817,823 30,910,332 4,181,701,854
52
Financial Statement of subsidiaries & dependant units BALANCE SHEET
As of 30th November 2006
ASSETS Code
Swimming
pool
Construction
center
Vung Huong
Weekend
Houses
Project
management
unit
Campha
Cement
Grinding
Station
Trade center
Project
management
unit
Head office
section of the
Corporation
Total of Office
section of the
Corporation
A - SHORT-TERM INVESTMENT 100 259,047,528 545,571,190 7,383,269,211 - 2,540,877,522,657 4,764,595,776,650
I. Cash & equivalent amounts 110 1,018,175 545,571,190 1,839,631,294 - 1,079,944,755,158 1,229,006,554,252
1. Cash in hand 111 1,018,175 545,571,190 1,839,631,294 - 1,079,944,755,158 1,222,400,454,252
2. Cash equivalent amounts 112 - - - - - 6,606,100,000
II. Short-term financial investments 120 - - - - 5,000,000,000 60,477,133,299
1. Short-term investment in securities 121 - - - - 5,000,000,000 60,477,133,299
2. Provision for the diminution in value of
short-term investments
129 - - - - - -
III. Receivables 130 154,563,818 - 182,800,000 - 1,451,955,748,435 2,675,282,437,976
1. Receivables from customers 131 154,563,818 - - - 26,706,392,522 192,023,882,144
2. Prepayment to suppliers 132 - - 182,800,000 - 32,000,000,000 878,492,765,908
3. Inter-company receivables 133 - - - - 1,365,828,315,896 1,446,544,904,568
4. Receivables according to construction
agreement's schedule
134 - - - - - -
5. Other receivables 138 - - - - 27,421,040,017 158,220,885,356
6. Provision for bad debts 139 - - - - - -
IV. Inventories 140 43,776,595 - 1,976,528,855 - 2,360,676,571 731,168,378,956
1. Inventories 141 43,776,595 - 1,976,528,855 - 2,360,676,571 731,168,378,956
2. Provision for decline in inventories 149 - - - - - -
V. Other current assets 150 59,688,940 - 3,384,309,062 - 1,616,342,493 68,661,272,167
1. Short-term prepayment expenses 151 - - 3,009,728,382 - - 28,976,644,150
2. Deducted value-added tax 152 - - 93,274,180 - 1,004,768,061 28,887,910,076
3. Taxes and other receivables from the
Government
154 - - - - - 20,307,473
4. Other current assets 158 59,688,940 - 281,306,500 - 611,574,432 10,776,410,468
53
Financial Statement of subsidiaries & dependant units BALANCE SHEET
As of 30th November 2006
ASSETS Code
Swimming
pool
Construction
center
Vung Huong
Weekend
Houses Project
management
unit
Campha
Cement
Grinding
Station
Trade center
Project
management
unit
Head office
section of the
Corporation
Total of Office
section of the
Corporation
B - LONG-TERM INVESTMENT 200 - 10,662,839,314 440,188,616 274,381,514 821,165,479,336 4,505,911,280,710
I. Long-term receivables 210 - - - - - 436,676,272
1. Long-term receivables from customers 211 - - - - - -
2. Operation capital of dependant units 212 - - - - - -
3. Long-term inter-company receivables 213 - - - - - -
4. Other long-term receivables 218 - - - - - 436,676,272
5. Provisions for long-term bad debts 219 - - - - - -
II. Fixed assets 220 - 10,662,839,314 103,071,720 274,381,514 96,173,947,357 3,748,746,932,652
1. Tangible fixed assets 221 - - 103,071,720 - 12,475,970,351 98,509,226,096
Origin Cost 222 - - 103,071,720 - 29,218,524,468 154,403,559,450
Accumulated depreciation 223 - - - - (16,742,554,117) (55,894,333,354)
2 Financial lease assets 224 - - - - - -
Origin Cost 225 - - - - - -
Accumulated depreciation 226 - - - - - -
3. Intangible fixed assets 227 - - - - 9,628,293,200 11,679,150,626
Origin Cost 228 - - - - 9,663,543,200 12,215,815,559
Accumulated depreciation 229 - - - - (35,250,000) (536,664,933)
4. In-progress fundamental construction expenses
230 - 10,662,839,314 - 274,381,514 74,069,683,806 3,638,558,555,931
III. Investment in real estate 240 - - - - 160,716,459,662 160,716,459,662
Cost 241 - - - - 172,384,934,736 172,384,934,736
Accumulated depreciation 242 - - - - (11,668,475,074) (11,668,475,074)
IV. Long-term financial investment 250 - - - - 458,483,893,058 482,145,778,415
1. Investment in subsidiary companies 251 - - - - 364,104,432,875 364,104,432,875
2. Investment in joint venture, joint operation companies
252
- - - - 40,024,263,947 40,024,263,947
3. Other long-term investment 258 - - - - 54,355,196,236 78,017,081,593
4. Provision for the diminution in value of long - term investments
259 - - - - - -
V. Other long-term assets 260 - - 337,116,896 - 105,791,179,259 113,865,433,709
1. Long-term prepayment 261 - - 337,116,896 - 105,791,179,259 113,865,433,709
2. Deferred income taxes 262 - - - - - -
3. Other long-term assets 268 - - - - - -
TOTAL RESOURCES 270 259,047,528 11,208,410,504 7,823,457,827 274,381,514 3,362,043,001,993 9,270,507,361
54
Financial Statement of subsidiaries & dependant units BALANCE SHEET
As of 30th November 2006
ASSETS Code
Swimming pool
Construction center
Vung Huong
Weekend Houses
Project management
unit
Campha Cement
Grinding Station
Trade center Project
management unit
Head office section of
the Corporation
Total of Office
section of the
Corporation
A - LIABILITIES 300 211,442,112 11,208,410,504 7,823,457,827 274,381,514 1,069,995,818,559 6,823,515,073,416
I. Current Liabilities 310 211,442,112 11,208,410,504 7,823,457,827 274,381,514 838,411,517,532 3,462,411,570,654
1. Short-term borrowings 311 - - - - 662,064,178,336 827,644,131,551
2. Payables to suppliers 312 - 4,047,107,000 38,995,572 - 4,832,021,710 268,317,824,202
3. Advances from customers 313 - - - - 40,468,367,980 1,288,565,527,795
4. Taxes and payables to state budget 314 (1,458,478) - 13,312,322 - 14,427,345,201 23,984,726,498
5. Payables to employees 315 - - 466,614,664 - 198,430,000 3,649,479,390
6. Payable expenses 316 - - - - 147,015,924 635,500,622,890
7. Inter-company payables 317 212,499,712 3,145,776,904 7,146,665,361 274,381,514 - 417,803,086
8. Payables according to construction agreement's schedule
318 - - - - - -
9. Other payables 319 400,878 4,015,526,600 157,869,908 - 116,274,158,381 172,912,617,180 10. Provision for short-term payables 320 - - - - - -
II. Long-term liabilities 330 - - - - 231,584,301,027 3,361,103,502,762
1. Long-term payables to suppliers 331 - - - - - -
2. Long-term inter-company payables 332 - - - - - 345,590,206,994
3. Other long-term payables 333 - - - - - 28,183,460,195
4. Long-term borrowings 334 - - - - 230,672,055,944 2,986,272,952,328
5. Payable deferred income taxes 335 - - - - - - 6. Provision for severance allowances 336 - - - - 912,245,083 1,056,883,245 7. Provision for long-term payables 337 - - - - - -
B - OWNER'S EQUITY 400 47,605,416 - - - 2,292,047,183,434 2,446,991,983,945
I. Owner's equity 410 47,605,416 - - - 2,254,235,380,502 2,406,814,460,180
1. Owner's investment capital 411 36,658,126 - - - 1,608,714,026,832 1,632,640,816,593
2. Surplus of equity capital 412 - - - - 810,765,319,080 810,765,319,080
6. Foreign exchange differences 416 - - - - - (54,239,673,646)
7. Business development funds 417 - - - - 12,488,446,073 12,488,446,073
8. Financial reserve funds 418 - - - - 5,159,552,080 5,159,552,080
10. Undistributed profits 420 10,947,290 - - - (182,891,963,563) -
II. Other funds and expenses 430 - - - - 37,811,802,932 40,177,523,765
1. Bonus and welfare funds 431 - - - - 37,811,802,932 36,905,519,842
2. Resources for expenses 432 - - - - - 3,272,003,923
TOTAL RESOURCES 440 259,047,528 11,208,410,504 7,823,457,827 274,381,514 3,362,043,001,993 9,270,507,057,361
55
Financial Statement of subsidiaries & dependant units STATEMENT OF PERFORMANCE RESUSLT
For the fiscal year began on 01st January and ended on 30th November 2006
ITEMS
Code Vinahud - HN
Bidding & Project
management center Vinaconex-Mec
Campha Cement Project
management unit Dung Quat
BOT Water Plant
Lang - Hoa Lac Expansion
Project management
unit
1. Revenue from goods sales and services
provision
01 317,398,643,362 329,037,903,065 33,890,067,398 - 3,059,346,570 91,107,622,727
2. Deductions 03 - - - - - -
3. Net revenue from goods sales and
services provision
10 317,398,643,362 329,037,903,065 33,890,067,398 - 3,059,346,570 91,107,622,727
4. Cost of goods sales 11 240,655,250,827 298,251,002,662 23,769,057,655 - 3,422,634,030 89,285,470,273
5. Accumulated profit from goods sales
and services provision
20 76,743,392,535 30,786,900,404 10,121,009,743 - (363,287,460) 1,822,152,454
6. Income from financial activities 21 3,100,146,465 2,469,007,706 1,788,352,156 - 5,098,759 481,773,660
7. Expenses from financial activities
In which: bank loan interest
22
23
-
-
1,881,566,669
1,881,566,669
360,513,032
-
-
-
2,678,221,800
2,678,221,800
8,876,590,654
8,876,590,654
8. Selling expenses 24 14,023,781,286 - 2,106,275,964 - 25,224,193 -
9. Overhead cost 25 3,499,135,747 18,818,127,242 1,023,448,974 - 787,063,276 15,656,720,733
10. Net income from operating activities 30 62,320,621,967 12,556,214,198 8,419,123,929 - (3,848,697,970) (22,229,385,273)
11. Income from other activities 31 8,300,180,292 491,481,512 119,560,014 - - -
12. Expenses from other activities 32 3,800,500 - - - - -
13. Other Profits 40 8,296,379,792 491,481,512 119,560,014 - - -
14. Net profit before tax 50 70,617,001,759 13,047,695,710 8,538,683,943 - (3,848,697,970) (22,229,385,273)
15 Expenses for current corporate income
tax
51 - - - - - -
16 Expenses for deferred corporate income
tax
52 - - - - - -
17 Profit after corporate income tax 60 70,617,001,759 13,047,695,710 8,538,683,943 - (3,848,697,970) (22,229,385,273)
18 Earnings per share 70 - - - - - -
56
Financial Statement of subsidiaries & dependant units STATEMENT OF PERFORMANCE RESUSLT
For the fiscal year began on 01/01 and ended on 30/112006
ITEMS
Code Holiday View Hotel
Buon Tua Srah Hydroelectricity
Operative Committee
Cua Dat Project Operative Committee
Da River –Hanoi Water Project
management unit Hoa Lac High-tech
Park Hoa Lac Projects management unit
1. Revenue from goods sales and services
provision
01 5,038,724,473 148,165,599,532 163,693,946,393 - - -
2. Deductions 03 - 102,432,000 - - - -
3. Net revenue from goods sales and services
provision
10 5,038,724,473 148,063,167,532 163,693,946,393 - - -
4. Cost of goods sales 11 1,668,471,019 143,211,642,503 158,103,610,916 - - -
5. Accumulated profit from goods sales and
services provision
20 3,370,253,464 4,851,525,029 5,590,335,477 - - -
6. Income from financial activities 21 4,879,204 392,408,153 - - - -
7. Expenses from financial activities
In which: bank loan interest
22
23
5,793,929,000
5,792,183,000
508,581,594
219,876,800
-
-
-
-
- -
8. Selling expenses 24 2,561,000 - - - - -
9. Overhead cost 25 5,349,284,128 2,433,884,498 2,649,711,442 - - -
10. Net income from operating activities 30 (7,770,641,470) 2,301,467,090 2,940,624,035 - - -
11. Income from other activities 31 - 34,702,910 - - - -
12. Expenses from other activities 32 - - - - - -
13. Other Profits 40 - 34,702,910 - - - -
14. Net profit before tax 50 (7,770,641,470) 2,336,170,000 2,940,624,035 - - -
15 Expenses for current corporate income tax 51 - - - - - -
16 Expenses for deferred corporate income tax 52 - - - - - -
17 Profit after corporate income tax 60 (7,770,641,470) 2,336,170,000 2,940,624,035 - - -
18 Earnings per share 70 - - - - - -
57
Financial Statement of subsidiaries & dependant units STATEMENT OF PERFORMANCE RESUSLT
For the fiscal year began on 01/01 and ended on 30/112006
ITEMS
Code Vinahud-SG
Buon Kuop Hydroelectricity
Project management
unit
Cai Gia Urban Tourism Area
Project management
unit
Bim Son Construction
Techniques School Sam Son Hotel
Xuan Hoa
Construction Techniques
School
1. Revenue from goods sales and services
provision
01 - 224,886,951,579 - - 29,463,918 -
2. Deductions 03 - - - - - -
3. Net revenue from goods sales and services
provision
10 - 224,886,951,579 - - 29,463,918 -
4. Cost of goods sales 11 - 214,012,085,448 - - 108,240,305 -
5. Accumulated profit from goods sales and
services provision
20 - 10,874,866,131 - - (78,776,387) -
6. Income from financial activities 21 - 95,607,254 - - - -
7. Expenses from financial activities
In which: bank loan interest
22
23
-
-
-
-
-
-
-
-
-
-
-
-
8. Selling expenses 24 - - - - - -
9. Overhead cost 25 - 3,455,268,297 - - 82,390,200 -
10. Net income from operating activities 30 - 7,515,205,088 - - (161,166,587) -
11. Income from other activities 31 - - - - - -
12. Expenses from other activities 32 - - - - - -
13. Other Profits 40 - - - - - -
14. Net profit before tax 50 - 7,515,205,088 - - (161,166,587) -
15 Expenses for current corporate income tax 51 - - - - - -
16 Expenses for deferred corporate income tax 52 - - - - - -
17 Profit after corporate income tax 60 - 7,515,205,088 - - (161,166,587) -
18 Earnings per share 70 - - - - - -
58
Financial Statement of subsidiaries & dependant units STATEMENT OF PERFORMANCE RESUSLT
For the fiscal year began on 01/01 and ended on 30/112006
ITEMS
Code
Swimming pool
Construction
center
Weekend
Houses Project
management
unit
Campha
Cement
Grinding
Station
Trade center
Project
management unit
Head office section
of the Corporation
Total of Office
section of the
Corporation
1. Revenue from goods sales and services
provision
01 - - - - 28.936.784.367 -
2. Deductions 03 - - - - - -
3. Net revenue from goods sales and services
provision
10 - - - - 28.936.784.367 -
4. Cost of goods sales 11 - - - - 18.011.151.038 -
5. Accumulated profit from goods sales and
services provision
20 - - - - 10.925.633.329 -
6. Income from financial activities 21 - - 2.803.267 - 71.380.658.161 -
7. Expenses from financial activities
In which: bank loan interest
22
23
-
-
-
-
5.303.267
5.303.267
-
-
25.975.071.855
25.169.820.324
-
-
8. Selling expenses 24 - - - - - -
9. Overhead cost 25 - - - - 66.165.159.910 -
10. Net income from operating activities 30 - - (2.500.000) - (9.833.940.275) -
11. Income from other activities 31 - - 2.500.000 - 9.212.899.564 -
12. Expenses from other activities 32 - - - - 9.513.084.276 -
13. Other Profits 40 - - 2.500.000 - (300.184.712) -
14. Net profit before tax 50 - - - - (10.134.124.987) -
15 Expenses for current corporate income tax 51 - - - - 9.247.555.133 -
16 Expenses for deferred corporate income tax 52 - - - - - -
17 Profit after corporate income tax 60 - - - - (19.381.680.120) -
18 Earningsear per share 70 - - - - - -