Vinhomes Joint Stock Gompany · Vinhomes Joint Stock Gompany Interim separate financial statements Quarter lll 2019. Vinhomes Joint Stock Company CONTENTS General information Report

Vinhomes Joint Stock Gompany

Interim separate financial statements

Quarter lll 2019

Vinhomes Joint Stock Company

CONTENTS

General information

Report of management

Separate interim balance sheet

Separate interim income statement

Separale interim cash flow statement

Notes to the interim separate financial statements

Pages

3

4-6

7-8

9-10

1'1 - 51


GENERAL INFORMATION

THE COTIPANY

Vinhomes Joint Stock Company ("the Company") is a joint stock company establashed in Vietnam inaccordance wath the Business Registration Certificate No. 0103022741 issled by the HanoiDepa.tm€nt of Planning and Investment on 6 March 2008 and the Enterprise Registration CertificateNo 010267'1977 dated 5 August 2010 on registration of a shareholding company. The Companysubsequently also received amended Enterprise Registration Cerlitlcates with the the 28thamendment dated 28 June 2019 as the latest.

The current principal activities of the Company are to develop real estate property for sale, provideleasing of offices, render real est€te management and related services, pfovide general contractorservices, consulting and designing construction services, supervision and construction managementservices.

The Company's head office is located al No. 458, Minh Khai Street, Vinh Tuy Ward, H€i Ba TrungDislrict, Hanoi, Vietnam.

Vingroup JSC is the Company's parent. Vingroup JSC and lts subsidiaries are hereby refened as theGroup.

SOARD OF OIRECTORS

Members of the Board ot Directors during the period and as at the issuing date of the separate interimfinancial statements:

tuls. Nguyen Dieu LinhlVr. Nguyen Viet OuangMs. Cao Thi Ha Anlvlr. Varun KapurI\/r Mueen Uddeen

Mr. Pham Khoi NguyenMs Doan ThiThu MaiMs Le Thi Duyen

ChairwomanMemberlremberIndependent memberIndependent member

Head of the Supetuisory BoardMemberMember

SUPERVISORY BOARO

lllembers ofthe Superyisory Board during the period and as at the issuing date of the separate intedmtinancialstatementsi


GENERAL INFORMAIION {continued)

BOARD OF MANAGEMENT

Members of the management dlring the period and as at the issuing date of the separate interimfinancial statements are:

Mr. Pham Thieu Hoa Chief Executive OfficerMr. Douglas John Farrell Deputy Chief Executive OfficerMs. Nguyen Ngoc Thuy Linh Deputy Chief Executive OtticerMr. Nguyen Duc Quang Oeputy Chief Executive OfiicerMs. PhiThi lhuc Nga Deputy Chief Executive OflicerMr. Nguyen Van Trai Deputy Chief Executive Officerlvlr. Pham Van Khuong Deputy Chief Executive Officer

LEGAL REPRESENTATIVES

The legal representatives of the Company:

> until 5l\4arch 2019are lvls Nguyen Dieu Linh - Chjef Executive Ofiicer, l\4r. Nguyen Van Trai -Deputy Chief Executive Officer and IVr. Pham Nhat Vuong - Chairman;

> from 6 March 2019 to 19 N,lay 2019 are lvls. Nguyen Dieu Linh - Chairwoman, l\rs. Luu ThiAnhXuan - Chief Executjve Officer and l\rr. NOuyen Van Trai - Deputy Chief Executive Ofiicer;

> from 20 May 2019 to 27 Jlne 2019 are Ms. Nguyen Oieu Linh - Chairwoman, Mr. Pham ThieuHoa - Chaef Executive Officer and Mr. Nguyen Van Trai - Deputy Chief Executive Officer.

r from 28 June 2019 to the issuing date of this report are Ms. Nguyen Dieu Linh - ChaiMoman, Mr.Pham Thieu Hoa-Chief Executive Officer, Mr. Nguyen Van Trai- Deputy ChiefExecutive Officerand Mr. Pham Van Khuong - Deputy Chief Executive Officer.

Ms. Le Thi Hai Yen, Chaef Financial Officer, is authorised to sign on the financial statements of theCompany according to Letter of Authorisation No. 064/201g/cUO-fcD-VH dated 26 July 2019.


REPORT OF MANAGEMENT

I\/anagement of Vinhomes Joint Stock Company ('the Company") presents this report and theaccompanying interim separate financial statements of the Company for Quarter lll 2019

MANAGEMENT'S RESPONSIBILITY IN RESPECT OF THE INTERIM SEPARATE FINANCIALSTATEMENTS

Ivanagement is responsible for the separate intefirn financial statements which gave a lrue and farr viewof the separate interim financial position of the Company and of the separate interim results of itsoperations and its separate interim cash flows for the period ln preparing the separate interim financialstatements management is required to:

' select suitable accounting policies and then apply them consistently;

, make judgements and eslimates that are reasonable and prudent,

> state whether applicable accounting stand€rds h€ve been followed or not. subject to any materialdepartures disclosed and explained in the separate interim financial statements, and

' prepare the separate interim financial statements on the going concern basis unless it is inappropriateto presume lhat the Company willcontinue ils business.

I\ranagement is responsible for ensuring thal proper accounting records are kepl to disclose, withreasonable accuracy at any time, the financial posilion of the Company and to ensure that the accountingrecords comply with the applied accounling system lt is also responsible for safeguarding the assets ofthe Company and hence for taking reasonable steps for the prevention and detection of fraud and otherrrreg!larilres.

lvlanagement confirmed thai they have complied with the above requirements in preparing these separateinterim financial statements.

STATEMENT BY MANAGEMENT

Management does hereby state that, rn its opinion, the accompanying interim separate tinancialstatements give a true and fair view of the intenm separate financial position of the Company as at 30September 2019 and of the inter,m separate results of its operations and its interim separate cash flowsfor the nine-month period then ended in accordance with Vietnamese Accounting Standards, VietnameseEnterprrse Accounling System and the statutory requirements relevanttothe preparation and presentationof the separate financial statements.

The Company has subsidlaries as disclosed in the inte m separate financial statements The Companyprepared these separale financial statements to meet the prevailing requirements in relation to disclosureof infomation. speciflcally the Circular 155/2015/TT-BTC on disclosure of information on the securitiesma*et In addition, as required by these regulations the Company has also prepared the interimconso idaled financial statements of the Company and its subsidiaries as at 30 September 2019 ( theinterim consolidated financial statements') dated 28 October 2019

Users of the accompanying interim separate financial statements should read them together with theabove interim consolidated financial statements in order to obtain full information on the interimconsolidated financial position, interim congolidated results of operations and interim consolidated cashIlows oflhe Company and rts subsidiaries-

,/ \1"*.n.s.^.ny( vn /

half of the

al Officer

Hanoi. Vietnam

28 October 2019


INTERII/ SEPARATE BALANCE SHEETas at 30 September 2019

401-DN

Currency: VNDCY:

Code ASSETS Ending balance Beginning balance

100

110111112

120123

130131

132

135

'136

137

140141149

150151

152

153

155

CURRENT ASSETS

Cash and cash equlvalents1. Cash2. Cash equivalents

S hort-term i n vestm ents1 Held{o-maturity

tnveslments

C uftent accou nts receiva ble1 Short{erm trade

receivables2 Short-term prepayments to

supplrers3 Receivables on Short-term

lending loans4 Other short-term

recetvaDles5 Provision for doubtful

short{erm receivables

lnventories1 Inventories2 Provisions for obsolete

rnventofies

Other current assets1 Short-term prepaid

expenses2. Value-added tax

deductible3. Taxes receivable from

State Trcasury4. Othef current assets

4

5

6.'1

6.2

7

9

10

11

19

1912

43,907,071,698,331

5,115,694,O't7 ,7242,842,944.514,4892,272,749.499,235

114,456,370 ,257

114 ,496,37 0 ,257

30,906,059,118,816

'18,535 952,570,433

1 ,198 ,17 4 .794.824

21,324,106,330

'11,171,006,775,403

120,399124.174)

4,315,262,398,8764,355,263,106,618

(40,000 7o7,742)

3,455,559,792,658

71 ,47 5 ,005,291

31 ,930 ,202,112

191 ,200 789.4273,160,953,795,822

67,15 t,732,538,935

1,032,920,893,977547 .427 ,322,189485,093,571,788

543,306,657,798

543,306,657,798

19,230,108,047,834

17,641,321,436,935

1,040,693,225,917

23.257,439,663

30,545,236,550,493

(20,400.605 174)

10,747,630,525,17210,908,985,960,060

(161,355,434,588)

5,597,766,413,854

325.549,897,270

37,596,964,460

5.234 .619.552.124

Vinhomes Joint Stock Compan! Bo1-DN

INTERIM SEPARATE BALANCE SHEET (continued)as at 30 September 2019

VND

Code Notes Ending balance Beginning balance

200

210215

2',l6

220221222223227228229

230231232

240

242

250251

253

255

260261

262268

NON.CURRENT ASSETS

Long.term receivables1 Receivables on longlerm

lending loans2 Other longterm

receivables

Fixed assefs1. Tangible fixed assets

CostAccumulated depreciation

2. Intangible fixed assetscostAccumulated amortisation

lnvestment properties1. Cost2. Accumulated depreciation

Long-tarm asse6 inwgress1. Construciion in progress

Long-term lnvestments1. lnvestments in

subsidiaries2 Investments in other

entities3 Held-to-maturity

investments

Other long-ten assets1 Long-lerm prepaid

expenses2 Deferred tax assets3 Other long{erm assets

B.

14

I

16

17

17.1

17.2

17

11

12

74,690,180,935,534

9,838,040,621

9,838 040,621

100,230,808,93450,499,745,28984 ,7 59,104 ,314

(34,259,359,025)49,731,063,64585,313,447,549

(35,582,383,904)

3,330,222,708,0653,532 976,076,814(202.7 53,368,7 49)

473,647,021,332473,647 ,021 ,332

68,613,046,581,629

68.206,637 ,420 122

356,409,164,507

50,000,000,000

2,163,195,771,953

77,473.388.52953,385,854 838

2 032.336.528.586

71,491,650,1t6,607

9,950,725,065

9,950,725,065

63,898,619,13136 ,407 ,226 ,70765 ,182.646 ,284

(28.77 5.419 ,577\27 ,491,422,42448,393,731,812

(20,902,309,388)

3,281,849,564,0583,425,793,153,076(143 943,589,018)

382,857,316,700382,857,346,700

65,8U,075,729,376

65 477,666.564 869

356,409,164 507

50,000,000,000

1,869,018,102,277

143,981,363,283181,282,580,508

1543.754.158.486

270 TOTAL ASSETS 118,597,252,633,865 13E,643,382,655,542


NTERIM SEPARATE &qLANCE SI'IEEI {coil du!d)

i-nl,Nsuym Thi fioiq T6no

i.9!

333

UAA|UflE3

1 shd-iafr t6d. pryabt.s2 shd-iefr .dhnc* trcm

3 T€x.s p.Fbr. io Siar.

6 Orh.r shodtm p.y.bre.

- utlditttrbolrd pon tu

19

21

21

25

1 r 3.j9r.252,033,465 | 1 !t,4.!,tt2,65s, sa2

o.pl

ti

r" g s.fi.gsFFes J fi"il"$3ftdgt Hi F.s.as$*Ex. $. $"EgBgg'q

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g f Eqf 89$H"€ 5 3"*.p:8i3"s. H 5.i"hgF$$.3 3 33Eggs}

q

:, I3,$,$SFFB.;. F S.qgEggs.g E g"F";i$$EE * F"fi"EBEE$"

- - j j

Sq

$. g i.$"$sggm.$.5:.F.pha$S.H. S H,s":Hg$$.H S FF"$nagg

=.=:

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:E=$ b'i t 9r i *36F;;9e" n. E !- H s;8 3g ; Eg .-+ :EE € 5t I EE e Hr" E * e

*B;?Eg"E$E3tq*EF5E fir !€ gE cE:$ Fie;.ia;j!tdN;;9

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Eg8;8gE8;EB ;;Ee. i.i ..t .! 3 x ,-r

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9fra=--9P.-s"$s'r.egsERa5il

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INTERII\4 SEPARATE CASH FLOW STATE|llENTfor the nine-month oeriod ended 30 September 2019

BO3-DN

VND

ITEMS peiod ended 30Septemher2019

peiod encled 30Soptenber 2018

01

02

03

0506

08

09

10

11

12

15

20

21

23

22

24

25

26

21

30

I. CASH FLOWS FROMOPERATING ACTIVITIES

Accountlng profit bofor€ tax

Depreciation of tangible tixedassets and investmentproperties and amortisation ofIntangible fixed assets(Reversal ofprovisions)/provisionsProfits from hvesling aclivitiesInleresl expenses and bondissuance expenses

Operatlng protlt before changesIn worklng capital

Decreese/ (lncrease) in

Decrease/ (lncrease) in

Increase in payables and olherliabilities (excluding interest,corporate income tax)Decrease in prepaid expensesInter€st paidCorporate income tax paid

Net cash flowb used in operatingactivities

ll. CASH FLOWS FROi,lINVESTING ACTIVITIESPurchase and construclion offixed assets and other long-termasseisProceeds from disposals of fixedassets and olhea long-termsasselsLoans to other eniities andpaymenls for purchase of debtrnslruments of other entitiesCollections from borrowers andproceeds from sale of debtinstruments of other entitiesPayments for investments inother enlitiesProceeds from sale ofInvestmenls in other entitiesInteresl and dividends feceived

Net cash flows used ln Investlngactivltles

26.2

2A

19

3,315,447,579,074

81,971,231,O04

(154,980,909,909)(8,646,622,374,909)

5,651,800,216,180

247 ,615,7 41 ,MO

6,340,604,971,135

6,544,843,091,457

(3,469,335,493,762)320,542,466.727

(1,728,937 ,057 ,223)(1 , 134,704,470,283)

7,120,669,649,491

(508,653,913.172)

105,212,526,209

(2,390,349,405,569)

2,821 ,093 ,026 ,443

(37,823,628,085,729)

53 ,777 ,656,872,0383 586,288,363,050

19,567,619,383,270

11,775,s87 ,796,705

78,323,317,908

(56,248,498,947)(5.230.799,092,207)

2,680,803,448,977

9,250,666,972,436

(3,206,824 ,377 ,319)

(1 ,990,688,868,322)

12.495,349,147,217)391,864,540,350

(1,551,023,930,325)(2,008,696,771 ,992)

(1,510,05r,582,389)

(347.358 312 483)

2 485,410 563,146

(3,301,879,713,988)

591,090,320,776

(75,390,207.233,954)

20,350,738,936,6782,451 ,19 1 ,067 ,57 2

(53,'t61,014,372,2s3)


INTERIM SEPARATE CASH FLOW STATEMENT (continued)for the nine-month period ended 30 Seotember 20'19

BO3-DN

Cuftenc VND

Code ITEMSForthe nine-month

peiod endecl 30SepIember2019

pedod ended 30September2018

31

3436

40

50

70

III. CASH FLOWS FROMFINANCING ACTIVITIESlssuance ot shaaesDrawdown of borrowingsRepayment of bonowingsDividends paid

Nol cash flows from financlngactivitias

Net Increaae In cash foa the year

Cash and cash equlvalents at thebeglnnlng ot the year

Cash and cash equivalents al theend ot the year

37,176,686,568,334{56,432,688,559,348)

(3,349,513,918,000)

(22,605,515,909,014)

4,042,773,123,747

1,032,920,893,977

5,115,654,017 ,724

12,000.000,000,00097,684.126,869,043

(51 ,876,755,388.898)(900,000,000,000)

56,907,371,,180,'145

2,136,305,525,503

473,221,202,728

2,609,526,728,229

Nguyen Thi Hong TrangPreparer

Hanoi, Vielnam

28 October 2019

Chief Accounlanl

10


NOTES TO THE INTERII\4 SEPARATE FINANCIAL STATEIUENTSQuarter lll 2019

BO9-DN

I. CORPORATEINFORMATION

Vinhomes Joint Stock Company {'the Company") is a joint stock company established InVietnam in accordance with the Business Registration Certificate No. 0103022741 issued bythe Hanoi Depa(ment of Planning and Investment on 6 March 2008 and the EnterpfiseReg stration Certifioate No. 0102671977 dated 5 August 2010 on registration of ashareholding cornpany. The Company subsequently also received amended EnterpnseRegistration Cedificates with the the 28th amendment dated 28 June 2019 as the latest.

The curent principal activities of the Company are to develop real estate property for sale,provide leasing of offices, render real estate management and related seruices. providegeneaal conkactor seNices, consulting and designing constrlction services, supervision andconstruction management services.

The Company's head office is located at No. 458, Minh Khai Street, Vinh Tuy Ward, Hai BaTrung District, Hanoi, Vietnam.

The Company's normal course of business cycle of real estate development activity beginswhen the Company receives investment cediflcate, carries out land clearance andconstruction works until the project is completed. Accordingly, the normal course of businesscycle of real estale development activity ranges from '12 months lo 36 months.

The Companys norrnal course of business cycle of other activities s normally wlthin 12months.

The number of the Companys employees as at 30 September 2019: 6,508 (31 December2018:6,258)

Seaso nal ity of o perations

Due to the natute of teal estale business, revenue from fental income and render real estatemanagement seru ce is expected to be stable throughout the year except when the Companyintroduces new investmenl properties into the market On the other hand, revenue from saleof residential properties is dependent on the completion of the Company s properties projectsand on the market conditions at the time lhese projects are on offering.

11


NOTES TO THE INTERIM SEPARATE FINANCIAL STATEMENTS (continued)Quarter lll 2019

BO9.DN

l. CORPORATEINFORiTATION(continued)

Corpora'e strucfurc

As at 30 September 2019, the Company has 17 subsidiaries (as at 31 December 2018: '18

subsidieries). The information on these subsidiaries, along with the Company's direct andindirect voting rights and direct and indirect equity interest in each subsidiary is as followsl

CompanyVoting rights Equity

(%) interest(%) Registe/ed o,itcob addlEss

83.S5

No.

1

2 Ecology Development andlnvestment Joint Stock

Gia Lam Urban Developmenl 85 00and Investment LimitedLiability Company("Gia Lam LLC') (i)

No. 7 Bang Lang 1 Street,Vinhom€s Riverside Eco-lJrban Ar€a, Vi€t HungWard, Long Bien District,Hanoi

No. 191 Ba Trieu Streel, LeDai Hanh Ward, Hai BaTrung oistricl, Hanoi

No. 191 Ba Trieu Streel, LeDai Hanh Ward, Hai BaTrung District, Hanoi

No.72 Le Thanh TonStreet, Ben Nghe Ward,Districl 1, Ho ChiMinh City

No.72 Le Thanh TonStreet, Ben Nghe Ward,Districl 1, Ho Chi lllinh City

20A Floor, Dong Khoivincom Center, No. 72 LeThanh Ton. Ben NgheWard, Dislrict 1. Ho ChiMinh City

No. 72A Nguyen TraiSlreet, Thuong 0inh Ward,Thanh Xuan oistrict, Hanoi

No. 7 Truong Sa Street,Hoa HaiWard, Ngu HanhSon District, Oa Nang Cily

HH land area, Pham HungStreet, Nam Tu LiemDistrict, Hanoi

99.18 98.76

68.44

98.56

90.00

88.17

Company ("Ecology JSC") (i)

3 Vaetnam Investment and 69.50Consulting lnvestment JointStock Company ('VietnamInvestment JSC") (i)

4 Can Gio Tourisl CilyCorporation ('Can Gio JSC")(D

5 Tay Tang Long Real EstateLLC ('Tay Tang Long LLC')

6 Berjaya Vietnam International 97.90Unlversity Township ('EerjayaVIUT LLC) (D

99.89

90.00

7 Royal City Real EstaieDevelopment and InvestmentJSC ('Royal City JSC")

8 Lang Van Oevelopm€nl andInvestmenl JSC ("Lang VanJsc) (D

I lvlelropolis Hanoi LLC

99.00

100.00

95.82

100.00


NOTES TO THE INTERIM SEPAMTE FINANCIAL STATEMENTS (continued)Quader lll 2019

l. CORPORATE INFOR ATION (continued)

Cofpon e sffucture (continued)

B09-DN

No. CompanyVoting ights Equity

(%) interest(%) Reglsle@d ofic€'s add.6ss

11 ThaiSon Investment and 100.00Construction JSC ("Thai SonJsc) (D

10 Berjaya Vietnam FinancialCenter LLC ("Berjaya VFCLLC)

67.50 60.78 20A Floor, Dong KhoiVincom Cenler, No. 72 LeThanh Ton. Ben NgheWard, District 1, Ho ChiMinh City

No- 290 Nam Ky KhoiNghia Street, Ward 8,District 3, Ho chi Minh City

20A Floor, oong KhoiVincom Center, No. 72 LeThanh Ton, Ben NgheWard, District 1, Ho ChiMinh City

20A Floor, Dong KhoiMncom Center, No. 72 LeThanh Ton, Ben NgheWard, District I, Ho ChiMinh City

No. 63 Hang Ga Street,Hang Bo Wad. Hoan KremDistrict, Hanoi

20A Floor, oong KhoiMncom Center, No. 72 LeThanh Ton, Ben NgheWard, District 1, Ho ChiMinh City

72 Le Thanh Ton, BenNghe Ward, Dlstricl 1, HoChi Minh City

110 Dang Cong Binh.Xuan ThoiThuong Ward,Hoc Mon Dislrict, Ho ChiMinh City

90.96

100.00100.00

100.00

12 Mallenium Tradinglnvestment andDevelopment LLC("Millenium LLC')

13 GS Cu Chi DevelopmenlJSC ("Gs cu chiJSC') (i)

14 Phu Gia Property TradingLimited Liability Company('Phu Gia LLC') (i) (ii)

'15 An Thinh Trading andCommercial DevelopmentJSC ( An Thanh JSC )

18 Green Cily Development 90.00Joinl Stock Company ("GCDJSC)

17 Delta Joint Stock Company 100.00('D€lla JSC") (i)

99 90

98.00

85.00

96.79

85.00

90.00

99.34

(i) The equity interest in these subsidiaries differs from voting right since the Companycontrols over these subsidiaries indirectly through other subsidiaries.

This company is in the process ofcompleting dissolution procedures.(iD

13

Vinhomes Joint Stock Company Boe-DN

NOTES TO THE INTERIM SEPARATE FINANCIAL STATEMENTS (continued)Ouarter lll 2019

2. BASIS OF PREPARATION

2.1 Accounting standards and system

The separate tinancial statements of the Company, which are expressed In Vietnam dong( VNo'), are prepared in accordance with Vietnamese Enterprise Accounting System andVietnamese Accounting Standards issued by the lvlinistry of Finance as per:

, Decision No 149/200'1/QD-BTC dated 31 December 2001 on the lssuance andPromulgation of Four Vietnamese Acco!nting Standards (Series 'l)l

' Decision No 165/2002/QD-BTC dated 31 December 2002 on the lssuance andPromulgation of Six Vietnamese AccoLrnting Standards (Series 2);

i Decision No. 234I2003/QD-BTC dated 30 December 2003 on the lssuance andPromulgation of Six Vietnamese Accounting Standards (Series 3);

r Decision No. 12I2005/QD-8TC dated 15 February 2005 on the lssuance andPromulgation of Six Vietnamese Accounting Standards (Series 4), and

' Decision No 100/2005/QD-BTC dated 28 December 2005 on the lssuance andPromulgation of Four Vietnarnese Accounting Standards (Series 5).

Accord ngly. the accompanying separate frnancial statements, including their utilisation arenot designed for those who are not informed about Vietnam s accountrng princrples,procedures and practices and furthermore are not intended to present the frnancial positionand results of operations and cash flows in accordance wilh accounting pnncrples andpractices genefally accepted in countries other lhan Vietnam

2-2 Applied accounting clocumentation system

The Company's applied accounting docLlmentaiion system is the General Jo!rnal

2.3 Flscal year

The Company's fiscal year applicable for the preparation of its separate tinancial statementsstarts on 1 January and ends on 31 December

2-4 Accountingcurrency

The separate financia statements are prepafed in VND whch is also the Companysaccountrng currency

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3.1 Cash ancl cash equivalents

Cash and cash equivalents comprise cash on hand, cash at banks and short{erm, highly|quid investments wrih an original maturity of no longer than thaee months that are readilyconvertrble into known amounts of cash and that a.e subject to an insignificant risk of changeIn value.

3.2 lnvento es

Inventories are stated at the lower of cost ncurred in bringing each producl to its presentocalion and condition. and net realisable value

Net realisable value ( NRV') represents the estimated selling price in the ordinary course ofbusiness less the estimated costs to complete and the estimated costs necessary to makethe sa e

14

3.


NOTES TO THE INTERIM SEPARATE FINANCIAL STATEIVENTS (continued)Quarter lll 2019

BO9.DN

SUMMARY OF SIcNIFICANT ACCOUNTING POLICIES {continued)

,rvertoles (continued)

Inventory propedy

Property acquired or being constructed for sale or to be held for long-term lease that meetsthe aequircments of outright revenue recognition in the ordinary course of business ratherthan to be held for renta I or ca pital appreciation, is held as inventory property and is measuredar the lowe. of cost and nel realisable valLe

Cost of inventory property incl!des:

" Freehold, leaseho d and development rights for land;

- Amounts payable/paid to contractors for consvuction, and

' Borrowing costs, planning and design costs, costs of site preparation, professional feesfor legalservices, property transfer taxes, conslruction overheads and other related costs.

Net realisable value is theestimated selling price in theordinary course ofthe bus'ness, basedon market pflces at the reporting date, and less costs to completion and the estimated costslo setl

The cost of nventory property recognised n the separate income statement on disposal isdetermined with reference to the speclfic cosls incurfed on the properiy sold and an a locatDnof anv non-sDecific costs based on reasonable relative cosi basis

Inventory construction

The Company uses perpetual method to rccord raw materials and merchandise which arevalued al cost of p!rchase on a weighted average basis

Work in progress of construction contracts comprises costs of materials, laboLrr costs.constructon costs pavable to sub-conlractors and other related costs whrch have not beenaccepted bv the Investors at the date of the financial statements

Ptovision fot obaolete inventoies

An inventories provision is created for the estimated loss arising due to the impairment ofvalue (through diminutron, damage, obsolescence, etc ) of raw materials, finrshed goods, andother rnventories owned by the Company, based on appropriate evidence of impairmentavailable at the separate balance sheet date.

Increases or decreases to the provision balance are recorded into the cost of goods soldaccount in the separate income statement.

Receivables

Receivables are presented in the separate financialstatements at the carrying amounts duefrom customers and other debtors. after provision for doubtful debts.

The Company contributes assets into Inveslment Co-operation agreements, includingshopping mall and school components, in which corporate counterparties have the right tooperate, explort and manage these components slnce the commencement of operation, andthe Company is entiiled to receive a porlion of profiis from operation. lJnder suchcircumstances, the Company's capltal contribution nto the Investment Co operationagreements wrll be recognised rn olher feceivables on the sepafate balance sheet at the timethe Company hands over the assets to operate and exploit.

3.3

15


NOTES TO THE INTERIM SEPARATE FINANCIAL STATENIENTS iconlinued)Ouarter lll 2019

3. SUMIIARY OF SIGNIFICANT ACCOUNTING POLICIES {continued)

3.3 R€coiyabr€s(continued)

The provision for dolbtful debts represents amounts of outstanding receivables at theseparate belance sheet date which are doubtful of being recov€red. Increases or decreasesto the provision balance are recorded as general and adminiskative expense in the separateIncome slalement.

3,4 Tangible fixed assets

Tangible fixed assets are slated at cost less accumulated depreciation

The cost of a tangible tixed asset comprises its purchase price and any directly attributablecosts of bringing the tangible fixed asset to working condition for its inlended use.

Expenditures for additions, improvements and renewals are adcled to the carrying amount ofthe assets and expenditures for maintenence and repairs are charged to the separate incomestatement as ancured.

When tangible fixed assets are sold or retired, any gain or loss resulting from their disposal(the diffefence between the net disposal proceeds and the carrying amount) is included in lheseparate income stalement

3.5 teased assets

The determination of whether an arrangement is, or conlains a lease is based on thesubstance of the arrangement at inception date and requires an assessment ofwhether thefulfilment of the arrangement is dependent on the use of a specific asset and the arrangementconveys a right to use the asset.

A lease is c assified as a finance lease whenever the terms of the lease transfer s!bstantiallyallthe risks and rewards ofownership ofthe asset to the lessee. Allother leases are classifiedas operating leases

Where the Companv is the lessor

Assets subject io operating leases are presented as investment properties in the separatebalance sheet. Initial direct costs incufied in negotiating an operating lease are recognised inthe separate ncome statement as incufied.

Lease income is recognised rn the separate income statement on a straight-line basis overihe lease terrn

Where the Company ia the lessee

Rentals under operating leases arc charged to the separate income statement on a straigh!ine basis over the lease term

3.6 lntangiblo fixed assets

Intangible fixed assels are stated at cost less accumulated amortisatbn.

The cost ofan intangable fixed assel comprises its pLirchase price and any directly attributablecosts of preparing the intangible fixed asset for its intended use.

16



BO9.DN

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES {continued)

,rlangibre txed assets (continued)

Expendiiures foradditions, improvements are added to the carrying amount of the assets andother expenditures are charged to the separate income statement as inc!rred.

When intangible fixed assets are sold or retired, any gain or loss resulting from therr disposal(the difference between the net disposal proceeds and the carrying amount) is inciuded in theseparate Income statement

DeDreci ation a nd a morti sation

Depreciation oftangible fixed ass6ts and amortisation of intangible fixed assets are calc!latedon a straight-line basis over the estimated usef!l life of each asset as folowsl

3.7

Buildings and structuresMachinery and equipmentMeans of kansportationOffice equipmentComputer softwareOthers

lnvestment properties

Investment paoperties are

44 - 47 yea$5 - 10 years

6 - I years3 - 5 years3 - 5 years2 - 5 years

3.8

stated at cost, including lransaction costs, less accumulatedoeplectat|on.

Subsequent expenditure relating to an investment property that has akeady been recognisedis added to the net book value of the investment property when it is probable that futureeconomrc benefits, in excess of the originally assessed standard of pedormance of theexistrng Investment prope8, willflow to the Company.

Depreciation of inveslment properties is calculated on a straighlline basis over the estimated!seful life of each asset as follows

Definite land use rights 47 - 49 yearcBuildings and shuctures 27 - 50 yearsl\4achrnery and equ pment I years

No amortisation rs charged on the land use rights presented as investment properties withindefrnrte lerms

Investment propertaes are derecognised when eitherthey have been disposed of orwhen theinvestment properties are permanently withdrawn faom use and no future economic benefit isexpected from itsdisposal. Thedifference between the net disposa I paoceeds and thecarryrngamount ofthe assets js recognised in the separate income statement in the year ot retirementor disposal

Transfers are made to investment properties when, and only when, there is a change In use,evidenced by ending of owner-occupation, commencement of an operating lease to anoiherparty or ending of construction or developmenl Transfers are made from investmentproperties when, and only when. there is change in use, evidenced by commencement ofowner-occupatron or commencemenl of development wiih a view to sale The transfer fromInvestment property to owner-occupied property or inventories does nol change the cost orthe carrying value of the property for subseq!ent accounting at the daie of change in use

17


NOTES TO THE lNTERll\4 SEPARATE FINANCIAL STATEI\4ENTS (continued)Qua.ler lll 2019

809-DN

3. SUMMARY OF SIGNIFICANT ACCOIJNTING POLICIES (continled)

3-9 Borrowing costs

Borrowing costs consist of interest and other costs that an entity anculs in connection with theborrowing of funds.

Borrowing costs are recorded as expense during the yeer in which they are incurred, exceptto the extent that borrowing costs are directly attributable to the acquisilion consiruction orproduction of an asset that necessarily take a substantial period of time to get ready for itsintended uge or sale are capitalised as part of the cost of the respective asset

3.10 Prepaid axpenses

Prepaid expenses are repoded as short{erm or long{erm prepaid expenses on the separatebalance sheet and amortised over the period for which the amount are paid or the period inwhich economic benefit are generated in relation to these expenses.

Short-term prepaid expenses include commission tees for selljng inventory properties,provisional corporate income tax for down payments from customers for the purchases ofinventory properlies at the Company's real estate projects and olher short-term prepaidexpenses which are expected to bring future economic benefits within one ordinary course ofDUSrness cvcte

Long{erm prepaid expenses include long{erm prepaid land rental, pre-operationexpenditure, tools and supplies, and other prepaid expenses that bring future economicbenefits lor more than one year

3.11 lnvestments

I nve stments i n s u bs idi aie s

Investments in subsrdiaries over wh ch the Company has control are carried at cost.

Dislributions from accumulated net paofits of the subsidiaries arising subsequent to the dateof acquisition are recognised in the separate income statement. Diskibutions from sourcesother lhan hom such profits are considered a recovery of investment and are deducted to thecost of the anvestment.

/nvestmerts i, assoc,afes

Investments in associates over which the Company has significant influence are carried atcost

Distributrons from accurnulated net profils of the associates arising subsequent to the date ofacqirisition are recognised in the sepa€le income statement. Distributions fiom sources otherthan from such protrts are considered a recovery of investment and are deducted to the costof the investment.

Held-for+ading secunties and investments in othet entities

Heldjor-trading securities and inveslments in other entilies are stated at their acquisitioncosts

18


NOTES TO THE INTERIM SEPARATE FINANCIAL STATEMENTS (continued)Quarler lll 2019

BO9-DN

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICI€S {continued)

3.ll rnyesfmerts(continued)

Ptovision for diminution in value of hetd-fot-lrcding securities and investments in entities

Provision is made for any diminution in value ofthe heldJortrading securities and investmentsin capital of other entities at the balance sheet date in accordance with the guidance underCircular No 228l2009ffT-BTC dated 7 December 2009 and Circutar No 89/20'13/TT-8TCdated 28 June 20'13 issued by the N4inistry ot Finance. Increases or decreases to the provisionbalance are recorded as finance expense In lhe seoarate income statement

H e ld -to- m at u rity i nvestme nt s

Held-io-matufity investments afe stated at their acquisition costs. After initiat recognition, held-to-maturty nvestments are measuted at recoverable amount Any mpairment oss Incurreds recognised as finance expense ln ihe separate rncome statement and deducted against thevalue of such rnvestments.

3.12 Payables and accruals

Payables and accruais are rccognised for amounts to be paid in the future for goods andservices received, whether or not billed to the Company. Payables to construction contrectorsare recognised for amounts certified by lhe construction work certificate signed withcontraclors, whether or not billed to lhe Companv.

3.13 Provisions

General prcvisions

Provisions are recognised when the Company has a present obligation (legal or constructive)as a result of a past event, it is pfobable that an outflow of resources embodyrng economrcbenefits will be requifed to settle the obligation and a reliable estimate can be made of theamounl of the obligation.

When the Company expects some or all of a provrsion to be reimbursed, for example underan insurance contract, the reimbursement is recognised as a separate asset but only whenthe rermbursement s virtually certain The expense relatrng to any provision ts presented inthe separate income statement nel of any reimbutsement.

lf the effect of the time value of money is materral, provtsrons are discounted using a currenlpre tax rate that reflects, where appropriate the risks specific to the liabiity Wherediscounting is used, the increase ln the provision due to the passage of time is recognised asa finance expense.

Warranly provision for inventory propeiies

The Company estimates provisrcn for waranty expenses based on revenues and avaitableintormation about the repa,r of inventory prcpertes sold in the past


NOTES TO THE INTERII\,4 SEPARATE FINANCIAL STATEIvIENTS {continued)Quarter lll 2019

BO9-DN

3. SUMMARY OF SIGNIFICANT ACCOUNTTNG pOLtCtES (continued)

3.14 Forcign currency transactions

Transactions in currencies other lhan the Company's reporting currency ofVND are recordedatthe act! al ka nsaction exchange rates at transaction dates which are determined as follows

Transaction resulting in rec€ivables are recorded at the buying exchange fates of thecommercial banks designaled for collection;

Transactions resulting in liabilities are recorded at the selling exchange rates of thetransaction of commercial banks designated tor payment; and

Payments for assets or expenses withoui liabilities initially being recognised is recordedat the buying exchange rates of the commercial banks that process these payments.

At the end of the year, monetary balances denominated in forejgn currencies are translatedat the actual transaction exchange rates at the separate balance sheet dates which aredetermined as followsl

llonelary assets are translated at buying exchange rate of the commercial bank wherethe Company conducts transactions regularly; and

Ivlonetary liabilities are translated at selling exchange rale ofthe commercial bank wherethe Company conducts transactions regularly.

All foreign exchange differences incu(ed during the year and arisen from the translation ofmonetary accounts denominated in foreign currency at the end of the year are taken to theseparate income stalement.

3.15 Appropriation of net prcfits

Net profit after tax (excluding gain arising from a bargain purchase) is available forappropriation to shareholders after apprcval in the Annual General l\,,leeting, and after makingappropraation to reseNe funds in accordance with the Comoanv's Charter and Vietnam sregulatory requirements.

3.16 Advances frcm customers buylng lnventory propenies

Payments received from customers as deposits for the purchase of inventory properties inthe future that do not meet lhe conditions for revenue recognition, are recognised andpresented as Advances from customers" in the liabilitv section In the seDarate balance sheetIncentNes under promotion programs which are, in substance, revenue deductrons are offsetagarnst accolnt Advances from customers which are not qualified to be recognised asrevenue for the year

3.17 Revenuerccognition

Revenue s recognised to the extent that it s probable that the economic benefits wil flow tothe Company and the revenle can be reltably measured. Revenue ts measured at the fatrvalue of the consideration fece ved or rece vable, excluding trade discount, rebate and salesreturn. The following specific fecognition criteria must also be met before revenue tsrecognrsed

Revenue frcm sale of invenlory prapenies

Revenue from sale of inventory properties ls recognised when the significant risks andfewards Inc dent to ownershlp of the properties have been passed to the buyer.

20

Vinhomes Joint Stock Company Boe-oN

NOTES TO THE INTERIM SEPAMTE FINANCIAL STATEMENTS lcontinued)Quarler lll 2019

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continled)

3.17 Rovenue recognit,o, (continued)

Revenue hom leasing of prcpefties

Rental income arising from leased properties is recognised in the separate income statementon a straighl-ljne basis over the lease lerms of ongoing leases

Rendering of seryices

Revenue from rendering of seNices is recognised when the services are rendered tocustomers

lntetest

Income is recognised as the interest accrues (taking anto account the effective yield on theasset) unless collectability is in doubt.

DMdends

Income is recognised when the Company's entitlement as an rnvestor to receive the dividends eslablished.

lncome from capital transfer

lncome from capital transfer is identified as difference between transfer consideration andcost of capital transfer This income is recorded on date when transaction arises being thedate when the transfer conlract is exercised.

lncome fron Ersin-ass and Investment Ca-operalion Canlracts in which the Campany isentitled lo profil beforc tax

Income from the profit before tax of real estale business under Business and Invesimeni Co-operation Contracts is recognised as finance income in the separate income statement

3.18 Constructioncontact

Where the outcome of a conshuction contract can be estimated reliablv. revenue and costsare recognised by reference to the stage ofcompletion ofthe contract activity at the separatebalance sheet date, as measured by reference to the work performed that has been agreedby cuslomers. Variations in contract work, claims and incentive payments are included to theextent that they have been agreed with the customer.

Where the outcome of a construction contracl cannot be estimated reliablv. conlraci revenueis recognised to the extent of contraci costs incurred that it rs probable will be recoverableContract costs are recognised as expenses in ihe year in which they are incurred.

3.19 Taxation

Currenl income tax

Current income lax assets and liabilities for the current and prior vears are measufed al theamount expected to be recovered frorn or paid to the taxation authonlies. The tax rates andtax laws used to compute the amount are those that are enacted as at the separate balancesheet date.

Currenl income tax is charged or credited to the separate income statement, except when itrelates to items recognised directly to equity, in which case the current income tax is alsodealt with rn eouitv.

21


NOTES TO THE lNTER|lll SEPARATE FINANC|AL STATETVIENTS {continued)Ouarter lll 2019

BO9.DN

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

3.19 Taxatio, (continued)

Current income tax assets and liabilities are offset when there is a legatly enforceable rightfor the Company to offset current tax assets against current tax liabilities and when theCompany intends to settle its current tax assets and liabilities on a net basis.

Delefied lax

Deferred tax is provided usifig the liability method on temporary differences at the separatebalance sheet date between the tax base of assets and liabilities and their carrvino amoLrntfor financial repo ing purposes.

Deferred tax liabilities are recognised for all taxable temporary differences, except

]} where the deferred tax liability arises from the initial recognition of an asset or liability lna kansaction which at the trme of the transaction affects neither the accounting profit nortaxable profit or loss; and

" in respect of taxable temporarily differences associated with investmenls in subsidrariesand associates, and interests in joint ventures where timing of the reversal of thetemporary difference can be conlrolled and it is probable that the temporary differencewill nol reverse in lhe foreseeable futur€

Deferred tax assets are recognised tor alldeductrble temporary differences, carried foMardunused tax credil and unused tax losses, io the extent that it is probable that taxable prolitwill be avarlable against which deductible temporary differences, carried loNard unused taxcredit and unused tax losses can be utilised, except:

r where the deferred lax asset in respect of deductible temporary difference which arisesfrom the initial recognition of an asset or liability which at the time of the relatedtransaction, affects neither the accounting profit nor taxable profit or loss; and

, in respect of deductible temporarily differences associaled with Investments In

subsidiaries, assocrates, and interests in joint ventures, deferred tax assels arerecognised only to the extent that it is probable that the temporary differences will reversein lhe foreseeable future and taxable profits will be available against which the temporarydifferences can be utilised

The carrying amount of deferred tax assets is reviewed at each separate balance sheel dateand reduced to the extent that it is probable that sutficient taxable profit will be available toallow all or part of the deferred tax asset to be utilised. Previously unrecognised deferredincome tax assets are rc-assessed at each sepa€te balance sheei date and are recognisedto the extent that it has become probable that future iaxable profit will allow the deferred taxassets to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in

the period when the asset is realised or the liabilty is settled based on tax rates and tax lawsthat have been enacted at the separate balance sheet date.

Deferred tax is charged or crediled to the separate income stalement, except when it relateslo items recognised dlrectly to equity, in which case lhe deferred tax is also dealt wilh In theeourN accounl

22

Vinhomes Joint Stock Compan!

NOTES TO THE INTERII\,1 SEPARATE FINANCIAL STATEI4ENTS (contin!ed]Quarter lll 2019

on nanoat banKsequivalents

TOTAL

Cash equivalents as atranging from 1 month toannum

30 September 2019

753,515,5992,E42 ,191 ,OQ2,8902,272,49 ,499 ,235

5,115,694,017 ,724

B09,DN

't,032,920,893,977

Curency: VNO

31 December2018

1,816,322,435546,010,999,754485,093,571,788

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLIC|ES {continued)

3,19 laxalion(continued)

Defer€d lax {continued)

Deferred tax assets and liabilities are offset when there is a legally enforceable right for theCompany to offset current tax assets against current tax liabilities and when they relate toincome taxes levied by the same taxation authority on:

! either the same taxable entiiv or

' when the Company intends either to settle current tax liabilrties and assets on a net basisor lo realise the assets and settle lhe liabilities simultaneously, in each future period inwhich significant amounts of deferred tax liabilities or assets are expected to be setlledor recovereo

3.20 Segmentinformation

A segment is a componenl determined separately by the Company which is engaged inproviding products or relaled services (business segment) or providing products or servicesin a particular economic environment (geographical segment), that is subject to risks andretums that are different fiom those of other segments

Real eslate lrading and related seNices afe principal sources of revenue and profil of theCompany, while revenue fiom olheractivities acco!nts fora minimalportion in ihe Company'stoial revenue. Therefore, management is of the view that there is only one segment forbusiness. Moreover, management defanes the Company's geographical segments to bebased on the location of the assets which is in Vietnam

3.21 Related parties

Parties afe considered to be relaled padies ot the Company if one parly has the ability tocontrollhe other party orexercEe significant influence over the other party rn making financraland operating decisions, or when the Company and other party are undercommon controlorunder common significant influence Related parties can be enterprise or Individual, includingclose membe6 of the family of any such individual

4. CASH AND CASH EOUIVALENTS

CashCashCash

30 September 2019 comprise bank deposits in VND with terrns3 months, earning interests at rates ranging from 4 5olo to 5 5% per

Vrnhomes Joint Stock Company

NOTES TO THE INTERII\4 SEPARATE FINANCIAL STATEI\4ENTs (continued)Quarter lll 2019

5. SHORT.TERMINVESTMENTS

BO9.DN

30 Septenber 2019

114,496 ,37 0 ,257

Cuffency: VND

31 December 2018

543,306,657,798Short{erm bank deposits

TOTAL 114,496,370,257 543,306,657,798

6.1

Short{erm bank deposlts in VND as at 30 September 2019 have terms ranging from 6 monthsto 12 months and earning interests at rates ranging from 5.37o to 6.6% per annum.

TRADE RECEIVABLES AND ADVANCES TO SUPPLIERS

S hort-lem lrade rcc eiva b lea

Disposal of investmentsSale of inventory propertiesRendering management services and salesconsultrng servicesRendering construction servrces and relaredservicesRendering real estate management servacesLeaslng activities and rendering relatedsetuices

TOTAL

Trade teceivables from athersTrade receivables tron rclated pafties(Note 31)

Shoit'term advances to suppliers

18,535,952,570,433 17,64'1,321,436,935

30 September 2019

14,451,156,159,7993 ,125 ,017 ,331 ,7 a4

103,535,622,586

445,104,685,33689.059,183,274

322,079,587,654

Cuffency: VND

31 December 2418

12,688,414,877,6032,27 5.77e,611 .753

1 ,37 6,57 1 ,912 881

803,042,841,154301,158,748,099

196 353,445 445

6.2

2 872,779,895,805

15,663,172,674,628

30 September 2019

1,188,298,628,8249 876.'162,000

2,830,761,403,467

14.810,560,033.468

Cuffency: VND

31 Decembet 2018

1,036 702,976,6003,990,249,317

Advances to other suppliersAdvances to related parties (Note 31)

TOTAL

ProviSion for doubtful advances to suppliers

1,19A,174,750,a24 1,040,693,225,917

(4 399,182,174) (4 400,663,174)

24


NOTES TO THE INTERIM SEPARATE FINANCIALOuarter lll 2019

7. SHORT.TERM LOAN RECEIVABLES

TOTAL

Provision for doubtful loan receivables

(i) One of these lendings is secured bycounterparty.

8. OTHER RECEIVABLES

Shorl-termCapital contrabution for Business andInv€stment Co-operation contracts (i)Declared profit receivables (ii)Interest income on loans, deposits and bank0eposrlsReceivables from payment on behalfShort-term deposits, mortgageOthers

TOTAL

Receivables trcn other paftiesReceivables from rclated partles (Nole 31)

Long-termDeposit for rental purpose

Others

TOTAL

B09-DN

STATEMENTS (continued)

21,324,106,330 23,257,439,663

Curency: VND

30 Septembor 2019 31 Decenber 2018

Current portion of long-term loan receivables (i) 21.324,106,330 23,257,439,663

(15,999,942,000)

assets at commercial outlets

(15,999,942,000)

of the corporate

30 September2019

8,896.076,992,0921,801,470,490,854

253,766,320,30795 ,441 ,5A7 ,47247 ,732.329 .39776.519,055,281

Currcncy: VND

31 December 2018

28.133,414 ,363 ,27 51,311,063,810,793

852,145, t37,648191,875,611.10225,944,650,00030 ,792,977 ,675

'11,171,006,775,403 30,5,15,236,550,493

227,273,304,18810,943,733,471,215

7 ,800 ,022,2862,038,018,335

14,974,492,587,72415.570,743,962,769

7.800,022.2862.150.702,779

9,838,040,621 9,950,725,065

(i) Mainly includes:

, Capital contribution of VND 3,890 biltion to Vingroup JSC and an affitiate for thepurpose of investing in some real estate projects unde. Business and Investment Co-operation Conkacts.

' Some assets with tot€l book vatue of VND 5,006 bi ion are used as capitalcontribution forthe purpose of operational co-operation and kansfer of shopping man,hoteland schoolcomponents underBusiness and Investmenl Co-operation Contraclswith a number of affiliates.

25


NOTES TO THE lNTERll\4 SEPARATE FINANCIAL STATETVTENTS (continued)Quarter lll 2019

8. OTHER RECEIVABLES (continued)

0i) Balance as at 30 September 2019 represents receivables tor profit declaration fromBusiness and Investment Co-operation Contracts with Vingroup JSC and a subsidiaryforthe purpose of investing in Vinhomes Riverside The Harmony, Vinhomes lmperia HaiPhong, Vinhomes D€gon Bay and Vinhomes Siar City Thanh Hoa and Skylake ProjectsThe total protit sharing from these contracts is presented in Note 26.2. Declared profitreceivables from these Business and Investment Co-operation Contracts have been fullycollected in cash after the balance sheet date.

9. BAD DEBTS

The Company's bad debts mainly include overdue loan principals receivable faom corporalecounlerpantes:

Cuffency: VND31 Decenber201630 September 2019

RecoverableCost anount

RecoverableCost amount

Ao Ta Trading andServices JSC 10.000,000,000RoyalChefJSC 5,999,942,000Other corpo|alecolnteDarties 4,399,182,174

, 10,000,000,000, 5,999.942,000

- 4,400,663 174

TOTAL

10. INVENTORIES

20,399,124,174 - 20,400,605,174

Currency: vND

31 Decenbe.2ola

Cosl Provision cosl Provbion

construclion (i) 1.210.986.765.281 (16.949.5E7.132) 7.625.625.973.334 (93.1 18,670,268)Compleled

propenies 979 006 463.898 - 1,191 325,968 333

acquired for sales(ai) 589.962150.102 (23,051 120,610) 1 .015,079.667.844 (68 236,764.320)

services 1383.023.768.360

30 Septenber2019

Others- 712.409.415.691- 364,544.934.858

rorAl L{!49!:!!:919 9q499M114 lq9!!:!!!:!!949q (161'355.1!1!9 )

(i) l\4ainly includes construclion and development costs for sections of Vinhomes CentralPark Vinhomes New Center Ha Tinh and Vinhomes Green Bay Project.

(ii) l\4ainly includes villas acqLrired for sales of Vinhomes Thang Long and VinhomesRiverside Projects.

192,263 956 977

26


NOTES TO THE INTERIM SEPARATE FINANCIAL STATEI\4ENTS lcontinued)Quarter lll 20'19

11. PREPAID EXPENSES

BOg.DN

Sho,t-te]mSelling expenses related to anventoryproperties not yet handed overProvisional corporate income taxOthers

TOTAL

Long-termPrepaid villas rentalTools and suppliesOthers

TOTAL

'12. OTHER ASSETS

Short-te.mDeposits for investrnent purpose (i)Electrical equipment systems

TOTAL

Deposits to other paftiesDeposits to related pafties(Note 31)

Long.termDeposits for investment purpose (ii)Deposits for commercial purpose (iii)

TOTAL

D6^^c;rc r^ ^rh-r.D9posits to rclated pafties(Note 31)

77,4733aA,529 143,981,363,283

3,160,953,795,822 5,234,619,552,124

Cuiency: VND

30 Septenbet 2019 31 December 2018

3,160,953,795,822 5.038,041,085,139- '196.578.466.985

30 Septenber 201 I

26.692,153,9246,483,159,910

36,299,691,463

Cwrcncy: vND

31 Decembq 2018

263 ,708,125 ,26457,728,500,858

4 ,113,27 1 ,144

7147s,00s,297 !?!,5!9'q94?q

44,504,531,79626,',t37,220,12073,339,61't,367

26.110 ,17 3.44828,055,229,17023,307,985,911

752,726,210,683

2.408,227,585,139

1,000,000,000,8001,032,336,s27.786

933,562,966,985

4,301,056,585,139

s11,417,630,7001,032,336,527,786

2,032,336,528,586 1,5,13,75,1,158,486

1,032,336,527,786

1,000,000,000,800

1,032,336,527,786

511.417,630.700

27


NOTES TO THE lNTER|l\.,1 SEPARATE FtNANCIAL STATEMENTS {continued)Quarter lll 2019

BOg-DN

12. OTHER ASSETS (continued)

(i) Mainly comprisesi

> Unsecured deposits of VND 2,106.4 ba ion to Vingroup JSC for the purpose ofinvesting and developing a number of real eslate projects under projeci transteragreements and project development agreements;

> Deposits of VND 199.7 billion to Vingroup JSC for acquiring addilional shares/ equityinterest of its subsidiaries that own potential real estate projects. These deposits aresecured by entire shares/equity interest and related rights, benefits of Vingroup JSCin these comDanies:

> An unsecured deposit ofVND 709.7 billion to a corporate counterparty for the purposeof acquiring a real estate projecl.

( ii) Comprises:

> An unsecured deposit ofVND 1,000 billion to Vingroup JSC for the purpose ofacquisilion of a real estate projecti and

(iii) An unsecured deposit to a corpoGte counterparty earning interest rate which isdetermined by 12-month interest (paid in anears) VND saving rate of Joint StockCommercial Bank for Foreign Trade of Vietnam, adjusted every 3-month period. Thedeposit and interest will be used as settlement for 10% of conttact value undef separatecontracts between the Company and this oorporate counterparty.

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NOTES TO THE INTERIM SEPARATE FINANCIAL STATET4ENTS {continued)Quarter l!l 2019

BO9.DN

't 5.

16.

CAPITALISED BORROWING COSTS

During the period, the Company capatalised borrowing costs with an amount of approximatelyVND 63.5 billion. These borrowing costs are mainly related to specific borrowings taken tofinance the conskuction of Vinhomes Central Park project. The capitalised borrowing costsare determined by applying a capitalisation rate fiom 9% per annum.

CONSTRUCTION IN PROGRESS

Office component in Vinhomes Times City ProjectComponents in Vinhomes Green Bay ProjectPanel production linesOthe.s

TOTAL

LONG-TERI' INVESTI'ENTS

30 Septembet 2019

473,647 ,O2',1 ,332 382,857,346,700

30 Septenber 2019

382,952,7 45,51912,236,401,349

Cutency: VND

31 Decembet 2018

184,924.U3,007106,889,188,55671,518,305,52019,525,509,6177 8,457 ,474 ,464

17.

Currency: VND

31 December 2O18

Cost Provision

68,206 ,437 ,420 ,122

356,409,164,507

50,000,000,000

lnveslmenls insubsidiaries (Note 17.1)lnveslmenls in otherentities (Note 17.2)Held{o-maturityinvestments (i)

TOTAL 68,613,040,584,629

65,477,666,564,869

356,409,164,507

s0,000,000,000

65,88{,075,729,376

(i) As at 30 September 2019, the balance represents the investment in bonds of Joint StockCommercial Bank for Foreign Trade ofVietnam amounling to VND50 billion with term of120 months from 25 November 2016 and interest rate of 7.57olo per annum for the firstyear Interest rate from the following years would be 12-month saving interest (+) 1qlo perannum.

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NOTES TO THE lNTERll/ SEPARATE FINANCIAL STATEMENTS (continued)Quarler lll 2019

BO9.DN

18. SHORT.TERM TRADE PAYABLES AND ADVANCES FROM CUSTOMERS

18,1 Short-tem trade payables

30 Soptember 2019

1,451 ,658,442,393

Cuffency: VND

31 December 2018

1,490,866,250,994

137,485,477.131326,734,992,305

Short-term t.ade payablesTrade payables to related parties(Note 31)

TOTAL

18.2 Aclvances trom custome.s

1,778,393,434,698 1,628,151 ,728,125

Down payments from cuslomers under salesand purchase a9reements (i)Advances from customers for construcUonservices

TOTAL

Advances from others

Advances fran rclated patties (Note 31)

30 Septembet 201 9

500,986,676,719

131 ,221 ,990 ,439

Cutency: VND

31 Decenber 2018

5,020,415 166,155

487,662,874,199

632,208,667,1s8 s,s08,078,040,354

632,208,667,1 58 5,293,650,308,408

(i) This mainly represents down payments to purchase inventory properties at VinhomesGreen Bay, Vinhomes Central Park, Vinhomes New Cenler Ha Tinh from custome6 whosigned sales and purchase agrcements with the Company.

19. STATUTORYOBLIGATIONSCu encY: VND

31Decembermlg Payable tot ke Wiod Paymenl made in 30 Septenberlhe penod 2019

Othertaxes

TOTAL

1 008 587,935,473

5.691,250,328

395,769,217

- 214 427,731,946

2.842,709,735

2,085,414,169

9,874,599,637 1,018,462,535,1 10

140,022,029,945 ft2 470,570,538

4,733,313,835 3,103,668,883

154,689,943,417 1,1A4,436,77 4,5311,014,674,955,0't8

34

4,928,123,904


NOTES TO THE INTERIM SEPARATE FINANCIAL STATE[4ENTS (continued)Quarter lll2019

19. STATUTORYOBLIGATIONS(continued)

37,596,S64 460 107 926,489 775

191.200.749.427

BO9-DN

191,200,789,427

31 Decenber Receivable for lhe2018 period

Cunency: VND

Otfset dunngthe 30 Septemberpenod 2019

1A2259,727,427 31,930,202,112

TOTAL 37,596,984,460 299,'127 ,279,202 102,259,727 ,427 223,1 30,99',1 ,539

20. ACCRUED EXPENSES

Short-te.mAccrued costs for handed over inventorypropertiesAccrued bond and loan interesl expensesAccrued construction coslsAccrued commission fees and otherexpenses related to inventory properties

Others

TOTAL

Short-Ierm acctual to othercShort-lerm acctual to rclaled partbs(Note 31)

Lon9-termAccrued loan interest expenses

TOTAL

Long-tem accrual to othe6Longlerm acuualto related padies(Note 31,

UNEARNED REVENUE

Short-termOeferred revenue from real estatemanagement seNiceDefeared revenue from leasing service

TOTAL

Long-tarmDefered revenue from real estatemanagement seryce

TOTAL

5,031,800,995,3't5 3,938,134,096,992

30 September 2019

1,337,135,806,515

2,764.622,406 ,131a7,348.284,867

'199,337,850,901643,356,646,901

Cuftency: VND

31 Decenber 2018

'1,397 193,720,555

1,267 936,351 283523,412j20,429

439 763,464,359309 828,440,366

2 383,073,940,299

2.648.727,055,016

4,183 773.885.211

3,051,336,832,631

B86,797,264,361

1 776 533,843,49E

2't.

4,t83,773,885,2 fi

601,823,556,178

3.581.950,329,033

30 Septenber 2019

425 807 .241 09015 ,022,935.219

't,776,533,843,498

102,099,452,056

1,674,434,391,442

Currency:vND

31 Dacember 2018

423,489,278 05615 ,294,415 ,024

440,830,175,309 438,7E3,693,080

1,432,704,556,372 1,460,577,430,887

1,432,704,556,372 1,460,577,430,887


NOIES TO THE INTERIM SEPARATE FINANCIAL

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NOTES TO THE INTERIM SEPARATE FINANCIAL STATEI\4ENTS {continued)Quarter lll 2019

23. LOANS (continued)

23.1 Loans from corporate counhrparties

Loans from corporate counterpartaes comprises:

> Shortterm loan from a corporate counterparty with the principal of VND 580 billion,bearing the interest rate at 9% per annum with maturity date in October 2019. This loanis unsecured; and

I Long-term loans from three (03) corporate counterparties wilh total prancipal of VN D 3,410billion, bearing the ant€rest rate at 9% per annum with maturity date in October 2020.These loans are unsecured.

23.2 Carporale bonds

Curency VND

Ending balance Beginning balance

13,209,513.300,576 12,536,424.468,532

13,209,5r3,300,576't2,536,424,468,532

Long-term corporate bonds

TOTAL

38

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NOTES TO THE INTERIM SEPARATE FINANCIAL SIATEMENTS (continued)Ouarter lll 2019

25. OWNERS'EOUITY

25,1 lnc.ease and decrcase ln owners'equity

,ssued sha/g caprlal Unclistibutecl eamings

B09'DN

24. LONG-TER[' PROVISION

This repr€sents provision for repairing costs of inventory propeaties at Vinhomes Times City,Vinhomes Green Bay and Vinhomes Contral Park Poects in accordance with the warantyclause in the sales and purchase agreements.

Cuftency: VND

Total

As at 1 January 2018

- Prolit for lhe period

- Additional shares issued' Shares issu€d lo acquir€

subsidiaries

subsidiarie6

- Slock dividends

- Dividends cash paid

- Demerger

As at 30 S€ptember2018

Current perlod

As at 1 January 2019

- Nel prcfit for the period

- Cash dividends

As al 30 September 2019

2,000,000,000,000

12,000.000,000,000

10,365,000,000,000

4,000,000,000,000

(1 ,568,884,500,000)

26,796,115,500,000

5,242,244,222.779

9,935,482,894,21 1

438,685,101,112

(4,000,000,00o,000)

(900,000,00o.00o)

7 ,242,248,222.779

9,93s,482,894,21 1

12,000,000,000.0m

10,365,000,000,000

438,685,101,112

(900,00o,0o0,000)

0,568,884,500,000)

37 ,512,531 ,718.1y

39,549,726.770,535

3,187,550,853,404

{3,349,513,918,000)

39,387,763,705,939

10.716,416,218,102

33,495,139.180,000 6,054,587.590,535

3,187,550,853,404

(3,349,513,918,000)

33,495,1 39,'t 80,000 5,892,624,525,939

40


NOTES TO THE INTERIM SEPARATE FINANCIAL STATEMENTS {continued)Quarter lll 2019

25. OWNERS'EQUITY{continued)

25.2 Capitat tnnsactlons wlth owne/,s equity

BO9-DN

Contfibuted share capltal from ownersEeginning balanceAdditional shares issuedShares issued for dividendsShares issued under merger contracts

Demerger

Ending balance

25,3 Ordinary shares and prcforqrce shares

Authorised shareslssued shares

Odinary shaesPtefarcnce shaaes

Shares in circulationOrdinary sharesPreference shates

The par value of outstandingVND10,000 per share).

The nina-monthpedod ended at 30

September 201 I

33,495,139,180,000

Cunency: VND

The nine-monlhperiod end6d at 30

September 201 I

2,000,000,000,000'12,000,000,000,000

4,000,000,000,00010,365,000,000,000(1,568,884,500,000)

33,495,139,180,000 26,796,115,500,000

30 Septenber 2019

3,349,513,9183,349,5'13,9183,349.513.918

3,349,5't 3,9183,349,513,918

Un,t Shares

30 Septenber 201 8

3,349,513,9rE3,349.513,9163,349,513.918

3,349,513,9183,349,513,918

shares: VNO10,000 per share (as at 31 December 201E:

41


NOTES TO TH€ lNTER|lvl SEPARAIE FINANCtAL STATEMENTS (contin!ed)Quarter lll 2019

809-DN

26.1

Gaosg revenue

Revenue lron sales of inventoryptopertiesRevenue from leasing activities andte n denng re I ate c! se NicesRevenue hom rendenng real estalemanagenenl and rclated servicesRevenue frch rendeing management,sale consullancy and prcjectdevelopment senr'icesRevenue from general construction,clesign consullancy, supervlsor se/vrces

OthersOoductions

Net revenue

26.2 Finance income

Interest income trom deposits and loansIncome from Business and Investment Co-operation contracts (i)Dividend incomeGains from selling and merger activitiesOthers

TOTAL

R€VENUES

Revenue trom sale of goods and rendaing of se,yices

Quafter llU2019

1,605,367,425,526

506,249,627,510

238,019,211,785

249,772,338,853

192,577,280,644

269,472,904 ,42A

150,276,062,306

Cuftency:VND

Quater ll12018

2.391.383.345.116

1.927 .922.347.324

135,264 117,001

318 485,426,968

I711,453,823

r,606,367,425,526 2,391,3E3,345,t16

Quarter lll2019

248,047,160,237

1,637,497,602.000444,77 4 ,958 ,700

Currency VND

Quater ll12018

235,989,s39,678

1,304,495,358,000

2,008,463,681 ,8701,304,972,786

2,730,319,7 20,937 3,550,253,552,334

(tl Income from Business and Investment Co,operation Contracts wth Vingroup JSC andVicentra JSC for ihe development purpose of Vinhomes Riverside The Harmony.Vrnhomes lmperia Hai Phong. V'nhones Dragon Bay. Vrnhomes Star Crty Thanh Ho;and Vinhomes Skylake prolects.

42


NOTES TO THE lNTER|lll SEPARATE FtNANCtAL STATEMENTS (continued)Quarter lll 2019

27. COST OF GOODS SOLD AND SERVICES RENDERED

BO9-DN

cost of invenlory properties sold

Cost of leasing activilies and other relatedcostsCostof .endering real estate managementand related servicesCost of rendering management, saleconsultancy and project devetopmentseNicesCost of general constrLrction, designconsullancy, supervisor servicesOthers

TOTAL

FINANCE EXPENSES

Loan interest and bond issuance costsOther finance expenses

TOTAL

Selling expensesCommission feesLabour costsMarketing expensesOthers

TOTAL

General and administrative expensesLabour costsDepreciation and amortisationOthers

TOTAL

1,343,071,407,814 1,225,4A4,27O,O9A

Quanet ll/2019

308,840 280 508

76 ,496,7 50,726

443 ,062,794 ,725

249,914 027 040

219,328,270,5805.429.284 .235

Currcncy: VND

Qualer lll2018

613 442,293,283

217,509.735,143

398,108,396,811

403.844,861

Quadel llnUg

1,953,515,557,8339,599,210,451

't,963,,114,768,284

Cuftency: VND

Quatet llnUS

1,053,149,080,8775,168,559,595

1 ,058,3,t7 ,640 ,47 2

29. SELLING EXPENSES AND GENERAL ANO ADMINISTRATIVE EXPENSES

Currency: VND

Quafter lll/2019 Quater lll2018

69,376 851 513 11713.442,11319,781 818,851 14 771.354.6A3

1 ,17 4 ,797 ,2411,207,030,567 930,109,555

9 t,540,498,172 27,4't4,906,351

4,765,730,1993,055,949,886

11,704.657,520

45,786,817,6702,000,590,131

112.294 ,6a2,77 5

43

19,s26,337,605 r60,062,090,576



B09.DN

30. CORPORATE INCO E TAX

The corporate income tax ("ClT") rate applicable to the Company is 2oolo oftaxabte prolits (in201E 20o/o\.

The tax returns filed by the Company are subject to examination by the tax authorities. As theapplication of tax laws and regulations is susceptible to varying interpretations, the amountsreporled in the separate financial statements could change at a later date upon finaldetermination by the tax authorities.

ClT expense

Current CIT expenseDefered tax expenses

TOTAL

CutencY: VND

Quaner f2019 Quatet 12018

127.896,725,670

127,496 725,670

1,863,910,442,360(20,805,539,866)

'l ,843,104,902,494

The current tax payable is based on taxable income for the cunent year. The taxable incomeof ths Company for the year differs from the profit as reported in the separate incomestatement because it excludes items of income of expense that are taxable or deductible inother year and it further excludes items that aae not taxabte or deductible. The Companysliability for current tax is calculated using tax rates that have been enacted by the separatebalance sheet date.

44

Vinhomes Joint Stock Company Bos-DN

NOTES TO THE SEPARATE FINANCIAL STATEMENTS (continued)Quarter lll 2019

31. TRANSACTIONS WITH RELATEO PARTIES

31.1 Amounts alue to anal alue trcm related Darties

Amounts due lo and due from rclaied oarties as at interim seoarate balance sheet dates wereas follows:

Related pafties Relatonship Transacliotls Ending balance Beginning balance

Irade receivabres (Nole 6. 1 )

Vlngroup JSC Parenl Receivables from 8,122,479.126 100,722,267,148company general contractor and

consulling conslructionservicesOlher r€ceivables 5,362,435,818 9,956,455,061

ThaiSon JSC Subsidiary Receivables frcm shar€ 13,757 156,159,799 1 1 ,748,466,367,399lransterR€ceivabtes fromgenetat contraclor andconsulling conslruclionservices 48,5a7,767,942

i/illenaum LLC Subsidiary Receivables lrom 64.618.964.230 1.150.904.466.812sale consultancy andmanagernent serviceReceivables from 6,995,501,102 6,575,175,681consf uclion consullancyand supervasion servaces

Vieham Subsidiary Recervables lrom 126 347.82t.82t 466.612.769.447Investment JSC sale consultent a.d

other servicesReceivables from 11,505,866,501 3,907,800,011construclion consullancyservices

Vinmec JSC Afliliale Receivables from share 694.000.000,000 694,000.000,000lransf€rOlher seNices 1,620,967,577

Gia Lam LLC Subsidjary Receivable kom generel 337,387,573,049contractor andconsulting constructionSetuicesReceivablesfromsale 8,476,206,680 39.171,373.943managemenlconsuttancy andmanagement se.vice

Vincom Relail Afliliale Recelvables from 157,940,874,681 199,956,041,606JSC general contraclor and

consulling conslructionservicesOlher receivables 46 004,778,984 9,257,163,159

Vincommerce AfJiliale Receivables fiom 4,118,779,705 119,551,438,935JSC consulting conslruct@n

and suparvrs|orlserv|ces

Green Cily JSC Receivables from 115,658,799,125consl'uction servrc€s

Vinschool LLC Affiliate Receivables from 35.095,691,890 9, 1,797,217revenue shadng fromeducation activity andrelaled service

Otheraffliates Other receivables 233,972,006,598 252,116,917,Ug

45

15,663,172,674,628 t4,810,560,033,468

Vinhomes Joint Stock Company BO9-DN

NOTES TO THE SEPARATE FINANCIAL STATEI\4ENTS (continued)Q!arler lll 2019

31, TRANSACTIONS WITH RELAIED PARTIES (continued)

31.1 Amounts due to and due from rclatecl paftles (conlinued)

Amounts due to and due from related parties as at interim separate balance sheet dates wereas follows: (continued)

Relaledpanies Relationship Transactions

Short-tem aclvanc* to supprie.s (Note 6.2)

Cuffency: VND

Ending balance Baginning balance

Other short-term receivables (Note 8)

Vingroup JSC Pafent company Receivables from

Olher afliliates

Cenlral Park LLC Affliate

VincomRetail AfiiliateJSC

Vinpearl JSC Afiiliale

Advance lo suppli€rs9 876,162,000 3,990,249.317

9,876,162,000 3,990,249,317

288,682,339,000 1 ,294,821 ,080,000

3 400.229,708,712 I 0,945,229 70A .7 12

shared profit ofBusiness andInveslmenl Co-operation ContractCapital contibutionfor Business andlnvestment Co-

Capilal contribulionfor Business andInveslmenl Co-operalion ConlmclShared pfolil tom

operation ContractOther recevablesCapiial conlributionfor B!siness andInveslment Co-operalion Conl|acl

Business andInveslmenl Co-

Capital conlibutionfor Business andhvestmenl Co-operation ContraclCapilal contribution

opsralion ConlmclOlher receivables

2.341,639,188

490,000,000,000

11,743,124.442

490,000,000,000

2,062,563,932.732

1 ,497,266,708,000

250,168,2242.179.831,038,380

15,521,443,8U

2.159.500,242,188

Vinschool LLC

Olhef afliliales

Aftitiate 666.516.002.812

243,594,180,A57

685.532,712.323

80,853,404,540

46

'1o,943,733,47.1,215 15,570,743,952,769


NOTES TO THE SEPARATE FINANCIAL STATEMENTS (continued)Q[rarter lll 2019

31. TRANSACTIONS WITH RELATED PARTIES (continued)

31,1 AmounE due to and due from rclated pades (continuedl

Amounts due to and due from related oarties as at interim seoarate balance sheetdates wereas follows: {continued)

Curency: VND

Related parties Relationship Tnnsactions En.ling balance Begnnning balance

ot rer currcra assets (Note 12)Vingroup JSC Paront company Deposils for share 2,306,169,985,139 4,198,998,985,139

transfer andinveslmenl purpose

Sai Dong JSC Altiliale Deposit for share 70,257,800,000 70,257,600,000transfer

RoyalCilyJSC Sub8idiary Deposilforshare 31,80O,0O0,0OO 31,40O,00O,0O0transfer andrnv6stm6 ouroose

2,408,227,585,139 4,301,056,585,139

Olherror-clrent assets (Note 12)

vrngroupJSc par.nt company Deposil for share 1000'000000s00 511417630700

transfer andanvestmenl puryose

I,000,000,000,800 51I,4'l7,630,700

Irade payabras (Note 1 8. 1 )

Vingfoup JSC Paront lvanagementfee 178,875,042,996 34,733,745,096company payaDEs

Otherlladepayables 29,071,084,837 36,363,798,461

West Hanoi LLC Subsidaary Payables for share - 36,000,000,000lransfer

Thai Son JSC Subsidiary Payables for share 36,000.000,000

Otherlradepayables 82,7883e4372 30,387,933,574Other affliales

- 41,267 ,745,122

- 16,737,721,054

326,734,992,305 137,445,477,131

Short-te/m advances frcm customers (Nole 18.2)

Vincommerce Affiliale Advances for - 93,109.237,354JSC purchasing goods

Vincom Retail Afiiliale Advances for - 48,920.707,830JSC purchesing goods

Kind Hearl Under Advances lor - 14,392,320,586Foundalion construclion activities

ownet

Vingroup JSC Parenl Advancgs forcompany purchasinggoods

Olher advances fromOther affliates

47

" 214,427,731,945


NOTES TO THE SEPARATE FINANCIAL STATEIVIENTS (continued)Ouarter lll 2019

3t.

31.1

Reldledparlies Relalionshtp fra,)sacto,s

Short-tem accrued experses (Note 20)

TRANSACTIONS WITH RELATEO PARTIES (continued)

Amounls cluo to and due from rclated partles (continued):

Amounts due lo and due from related parties as at interim separate balance sheet dates wereasfollows: (continued)

BO9-DN

CurencY: vND

Ending balance Beginning balance

Can Gio JSC Subsidiary

Central Park LLC Afllliate

Berjaya VIUT LLC Subsidiary

MetropolisHanoi SubsidiaryLLC

Inler€stpayables 2185,120,938,814

lnlerest payables 41,328,968,M2

lnlerest payabfes 94,714.4U.797

Inlersst payables 1 1 9, 1 91 ,972,604

471,786 574,429

116,757 ,625,577

58,356.328.764

53.379.287.673

- 186,517,447.918

179,720,027,729,650,693,392

Vingroup JSC Parent company Interest payables

Sinh Thai JSC Subsidiary Interest payablesOlher afllliales Olhers

2,548,727,055,0'16 6E6,797,254,361

Xalivico LLC

Can Gio JSC

Gia Lam LLC

Subsidiary

Subsidiary

148,7,534,244

142,638,402,209

1,O78.767,232

57,7'17,518,267

2,515,068,493

2,923,203,011 189

"40,828,602 742

56,539,726.027

106,197,525,496

22.001.260.503

34,728.312.746

110,209,315,069

805,038,979,073

108,763,835,617

169.570.684,931

103,154,149,233

131,395,068.463

26,835,534,244

Beiaya VFC LLC Subsidiary

Vinfast LLC Alfiliate

Vinpead JSC Amliate

Ecology JSC

Olher aflllialBs

Long-tam acctuad expenses (Nole 20)

RoyalCityJSC Subsidiary

Xavinco JSC Aftliale

Tay Tang Long LLC Subsrdiary

Inleresl payables

Deposil for InveslmenlCo-operation Contract

Depos for Business Co-

D€posil for shal€s

Deposil for Business Cooperation Contracl

Olher payables

Subsidiary 5,880,821,918

19,720 602 735

Other payables (Note 22)

vincomRelail AfllliateJSCVingroup JSC Parenl

company

VanpearlJSC Atliliate

BVFC LLC Subsidiary

Vinschoo LLC Afliliale

Other alliliates

3,5!t€!9.9?9!!3

1.845.315,129,696

871.3r6.980.564

2,199.807,000.000

1 ,752,817 ,875,314

915,200,000,000

81,942 031 194

1 ,67 4,434,391 ,442

'L571 ,000,000,000

2,199,807,000,000

915 200,000,000

38 336,0s9,217

48

7,666,399.01 6.768 4,7 24,343,O59,21 7


NOTES TO THE SEPARATE FINANCIAL STATEMENTS (continued)Ouaner lll 2019

31. TMNSACTIONS WITH RELATED PARTIES (continued)

31 .2 Deta s ot shon-f€'m and long-aetm bo.rowlngs hom retatod D€t es (Note 23):

Details of shon-lerm borrowings as at 30 September 2019:

Can Gio JSC Marcx 2020

F€bruary 2020

Janu.ry 2O2O

January 2020

&c.mb.r20t9

octobd 2019

From Janusry2019loOctob€r2019

F.om January20l9ro s€pr€mb6.2019

Mry 2019

B€.jaya VIUT LLC Sub3i,i.ry

SinhTh€iJSCTay Tang tong tLC Subsidiary

Tay Tang Long LLC SubsidiaryRoyalcity Jsc subsidlaryXavrnco JSC Subsidi..yXglivrco tLq Subsidi.ryGia Lam LIC SubsidiaryBcdaya VFC tLC Subsidiary

anomt tnte'€slftla

25,085,900,000,000 9%

5t7,90{).000,000 9./o

63E,000,000,000 9%245.900.000.000 9%

anounl lnle/'sl ElaVND % Ftannunt

54,605,926.953 9%

1.162.000.000.000

7,298,900.000,000 9%

[email protected] 9to

342,000.000.000 9%

25.000,000.000t ,925.000,000.000

395,500,000,000

425,000.000,000

8.762.637.586.462

177,000.000.000

Matuitydate Colata''l

Octob€r2020 NoneOcrob€r2020 Non€

Oclob6.2020 (')ocrob€r 2020 c)Oclob€r 2020 Non€

ocrobs 2020 None

26,487,700,000,000

Detaals of short-term bonowings as at 31 December 2016:

Relate.lpadies Retatio,Ahtp

Vi.groupJSC Parentcomprny

irblropolisHanoi Subidia.yu-cC.n G|o JSC Subxti.ry

c.nr€lPaft Ltc Afftble

B€iaya vlUT LLC Sqb.idi!ry

c)

(')

9,t77,50q926,953

Details of long-term bonowings as at 30 September 2019:

9%9%

9%

9%

9%

11,?t0,rt7,5E5,462

49


NOTES TO THE SEPARATE FINANCIAL STATEMENTS (continued)Ouarter lll 2019

31. TRANSACTIONS WITH RELATED PARTIES (continued)

31,4 Deteils ol shott-term and long.term borrowings trom rclated parties (Nole 23)

Deiails ot long-term borrowings as at 31 December 2018:

Relalgd padias Relati@ship Anount tnterestrcteVND % Pat annun

RoyrlCilyJSC Subsidiary

X.vinco JSC Affliate

Xalivico LLC Affiliate

MetropolisH.noi SubsidiaryLLC

2,000,000,000.000

641 ,000.000,0@

247,000,000,000

455.000,000.000

17,610,000,000,000

17,1€7,000,000,000

330,000,000000

2,015,000,000,000

835.000,000,000

3.240,[email protected],000

795,00{).000,000

497,000,000,000

220,000,000,000

249,900,000,000

625000,000,000

1.745.000.000,000

9% From February 2020 toSeptember 2020

9% F6bruary 2020

9% February 2020

9% F.omJan!.ry 2020lo

r)

c)

c)

c)

c)

Crn Gio JSC

Gia Lam LLC

February 2020

Frcm January 2020 loFeblurry 2020

F@m February 2020 loAprit2020

Augusl2020

May2020

From January 2020 loF€bruary2020

Fobruary2020

F om February 2020 toSepl.mb.r 2020

F.tuJary 2O2O

F.btuery 2O2O

January 2O2O

Frcm January 2020 toF.bruary 2020

F.btuary 2O2g

Pimo Land JSC Subsidiary

B.laya VFC LLC Subsidia.y

lvilleniumLtC Subidiary

9%

9!A

Ecology JSC

9%

9%

9a

9%

9%

l9,q!9$9q{99(") These loans are secured by shares of th€ Company and odinary shares of some subsidiaies

9%

GS Cu ChiJSC Subsidiary

B€rjayaV|UTLLC Subsidiary

T.y Trng Long LLC Subsidiary

centrat Park LLq Afntiato

Vinp€a JSC Afnliate

50


NOTES TO THE SEPARATE FtNANC|AL STATET\4ENTS (continued)Quarter lll2019

Nguyen Thi Hong TrangPreparer

Hanoi, Vetnam

28 October 2019

EVENTS AFTER THE BALATICE SHEEI DATE

ln October 2019, the Company wi receive dividends from 4 subsidiaries about VND 3,977billion

The.e is no other matt€r or circumstance that has arisen since the separate tElance sneetdate that requires adjustment ordisclosure in the interim separate financaat statements oftheCompany.

B09-DN

32.

"*Nguy-en Huu ThanhChidfAccountant Chief Financial Officer

51

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Vinhomes Joint Stock Gompany · Vinhomes Joint Stock Gompany Interim separate financial statements Quarter lll 2019. Vinhomes Joint Stock Company CONTENTS General information Report