PLC AUDITED SEPARATE FINANCIAL STATEMENTS 2015

EC staff consolidated version as of 16 September 2009, EN – EU IAS 27 FOR INFORMATION PURPOSES ONLY 1 International Accounting Standard 27 Consolidated and Separate Financial Statements Scope 1 This Standard shall be applied in the preparation and presentation of consolidated financial statements for a group of entities under the control of a parent. 2 This Standard does not deal with methods of accounting for business combinations and their effects on consolidation, including goodwill arising on a business combination (see IFRS 3 Business Combinations). 3 This Standard shall also be applied in accounting for investments in subsidiaries, jointly controlled entities and associates when an entity elects, or is required by local regulations, to present separate financial statements. Definitions 4 The following terms are used in this Standard with the meanings specified: Consolidated financial statements are the financial statements of a group presented as those of a single economic entity. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. A group is a parent and all its subsidiaries. Non-controlling interest is the equity in a subsidiary not attributable, directly or indirectly, to a parent. A parent is an entity that has one or more subsidiaries. Separate financial statements are those presented by a parent, an investor in an associate or a venturer in a jointly controlled entity, in which the investments are accounted for on the basis of the direct equity interest rather than on the basis of the reported results and net assets of the investees. A subsidiary is an entity, including an unincorporated entity such as a partnership, that is controlled by another entity (known as the parent). 5 A parent or its subsidiary may be an investor in an associate or a venturer in a jointly controlled entity. In such cases, consolidated financial statements prepared and presented in accordance with this Standard are also prepared so as to comply with IAS 28 Investments in Associates and IAS 31 Interests in Joint Ventures. 6 For an entity described in paragraph 5, separate financial statements are those prepared and presented in addition to the financial statements referred to in paragraph 5. Separate financial statements need not be appended to, or accompany, those statements. 7 The financial statements of an entity that does not have a subsidiary, associate or venturer’s interest in a jointly controlled entity are not separate financial statements. 8 A parent that is exempted in accordance with paragraph 10 from presenting consolidated financial statements may present separate financial statements as its only financial statements. EC staff consolidated version as of 16 September 2009, EN – EU IAS 27 FOR INFORMATION PURPOSES ONLY 2 Presentation of consolidated financial statements 9 A parent, other than a parent described in paragraph 10, shall present consolidated financial statements in which it consolidates its investments in subsidiaries in accordance with this Standard. 10 A parent need not present consolidated financial statements if and only if: (a) the parent is itself a wholly-owned subsidiary, or is a partially-owned subsidiary of another entity and its other owners, including those not otherwise entitled to vote, have been informed about, and do not object to, the parent not presenting consolidated financial statements; Deloitte PETROLEWEX PETROCHEMICAL CORPORATION-JSC (Incorporated in the Socialist Republic of Vietnam) AUDITED SEPARATE FINANCIAL STATEMENTS For the year ended 31 December 2015 i PETROUMEX PETROCHEMICAL CORPORATION - JSC Floors 18 & 19,229 Tay Son, Nga Tu So Ward Dong Da District, Hanoi, S.R Vietnam TABLE OF CONTENTS CONTENTSPAGEIS1 STATEMENT OF THE BOARD OF DIRECTORS2 INDEPENDENT AUDITORS' REPORT3 BALANCE SHEET4-5 INCOME STATEMENT6 CASH FLOW STATEMENT7 NOTES TO THE SEPARATE FINANCIAL STATEMENTS8-28 PETROLIMEX PETROCHEMICAL CORPORATION - JSC Floors 18 & 19, 229 Tay Son, Nga Tu So Ward Dong Da District, Hanoi, S.R Vietnam STATEMENT OF THE BOARD OF DIRECTORS The Board of Directors of Petrolimex Petrochemical Corporation - JSC (the "Corporation") presents this report together with the Corporation's separate financial statements for the year ended 31 December 2015 THE BOARDS OF MANAGEMENT AND DIRECTORS The members of the Boards of Management and Directors of the Corporation who held office during die year and to the date of this report are as follows: Board of Management Mr Pham Ba NhuanChairman Mr Nguyen Van DueMember Mr Nguyen Van KhanhMember Mr Vu Van Chien 'Member Mr Ha Thanh TuanMember Board of Directors Mr Nguyen Van DueGeneral Director Mr Le Quang TuanDeputy General Director Mr Ngo Due GiangDeputy General Director BOARD OF DIRECTORS' STATEMENT OF RESPONSIBILITY The Board of Directors of the Corporation is responsible for preparing the separate financial statements, which give a true and fair view of the financial position of the Corporation and of its results and cash flows for the year in accordance with Vietnamese Accounting Standards, accounting regime for enterprises and legal regulations relating to financial reporting In preparing these separate financial statements, the Board of Directors is required to: •Select suitable accounting policies and then apply them consistently; •Make judgments and estimates that are reasonable and prudent; •State whether applicable accounting principles have been followed, subject to any material departures disclosed and explained in the separate financial statements; •Prepare the separate financial statements on the going concern basis unless it is inappropriate to presume that the Corporation will continue in business; and •Design and implement an effective internal control system for die purpose of properly preparing and presenting the separate financial statements so as to minimize errors and frauds The Board of Directors is responsible for ensuring that proper accounting records are kept, which disclose, with reasonable accuracy at any time, the financial position of the Corporation and that the separate financial statements comply with Vietnamese Accounting Standards, accounting regime for enterprises and legal regulations relating to financial reporting The Board of Directors is also responsible for safeguarding the assets of die Corporation and hence for taking reasonable steps for the prevention and detection of frauds and other irregularities The Board of Directors confirms that the Corporation has complied with the above requirements in preparing tors, General Director Hanoi, 25 March 2016 Deloitte Vietnam Company Ltd 12A Floor Vinaconex Tower 34 Lang Ha Street, Dong Da District Ha Noi, Vietnam Tel: +844 6288 3568 Fax: +844 6288 5678 www.deloitte.com/vn Deloitte INDEPENDENT AUDITORS' REPORT To: The Shareholders The Boards of Management and Directors Petrolimex Petrochemical Corporation - JSC We have audited the accompanying separate financial statements of Petrolimex Petrochemical Corporation - JSC (the "Corporation"), prepared on 25 March 2016 as set out from page to page 28, which comprise the balance sheet as at 31 December 2015, and the statement of income and statement of cash flows for the year then ended, and a separate summary of significant accounting policies and other explanatory information Management's Responsibility for the Separate financial statements Management is responsible for the preparation and fair presentation of these separate financial statements in accordance with Vietnamese Accounting Standards, accounting regime for enterprises and legal regulations relating to financial reporting and for such internal control as management determines is necessary to enable the preparation of separate financial statements that are free from material misstatement, whether due to fraud or error Auditors' Responsibility Our responsibility is to express an opinion on these separate financial statements based on our audit We conducted our audit in accordance with Vietnamese Standards on Auditing Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the separate financial statements are free from material misstatement An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the separate financial statements The procedures ...Indian Accounting Standard (Ind AS) 27 Consolidated and Separate Financial Statements Contents Paragraphs Scope 1-3 Definitions 4-8 Presentation of Consolidated Financial Statements 9-11 Scope of Consolidated Financial Statements 12-17 Consolidation Procedures 18-31 Loss of Control 32-37 Separate financial statements 35-36 Accounting for Investments in Subsidiaries, Jointly Controlled Entities and Associates in Separate Financial Statements 38-40 Disclosure 41-43 APPENDICIES Appendix A: Consolidation––Special Purpose Entities Appendix B: References to matters contained in other Indian Accounting Standards Appendix C: Form of consolidated financial statements Appendix 1: Comparison with IAS 27, Consolidated and Separate Financial Statements Indian Accounting Standard (Ind AS) 27 Consolidated and Separate Financial Statements (This Indian Accounting Standard includes paragraphs set in bold type and plain type, which have equal authority. Paragraphs in bold type indicate the main principles). Scope 1 This Standard shall be applied in the preparation and presentation of consolidated financial statements for a group of entities under the control of a parent. 2 This Standard does not deal with methods of accounting for business combinations and their effects on consolidation, including goodwill arising on a business combination (see Ind AS 103 Business Combinations). 3 This Standard shall also be applied in accounting for investments in subsidiaries, jointly controlled entities and associates when an entity elects, or is required by law, to present separate financial statements. Definitions 4 The following terms are used in this Standard with the meanings specified: Consolidated financial statements are the financial statements of a group presented as those of a single economic entity. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. A group is a parent and all its subsidiaries. Non-controlling interest is the equity in a subsidiary not attributable, directly or indirectly, to a parent. A parent is an entity that has one or more subsidiaries. Separate financial statements are those presented by a parent, an investor in an associate or a venturer in a jointly controlled entity, in which the investments are accounted for on the basis of the direct equity interest rather than on the basis of the reported results and net assets of the investees. 2 A subsidiary is an entity, including an unincorporated entity such as a partnership, that is controlled by another entity (known as the parent). 5 A parent or its subsidiary may be an investor in an associate or a venturer in a jointly controlled entity. In such cases, consolidated financial statements prepared and presented in accordance with this Standard are also prepared so as to comply with Ind AS 28 Investments in Associates and Ind AS 31 Interests in Joint Ventures. 6 For an entity described in paragraph 5, separate financial statements are those prepared and presented in addition to the financial statements referred to in paragraph 5. Separate financial statements need not be appended to, or accompany, those statements, unless required by law. 7 The financial statements of an entity that does not have a subsidiary, associate or venturer’s interest in a jointly controlled entity are not separate financial statements. 8 [Refer to Appendix 1] . Presentation of ... separate financial statements 1,391,260233 PETROLIMEX PETROCHEMICAL CORPORATION - JSC Floors 18 & 19,229 Tay Son, Nga Tu So Ward Separate financial statements For t^e year ended 31 December 2015. .. ofthese separate financial statements PETROLIMEX PETROCHEMICAL CORPORATION - JSC Separate financial statements Floors 18 & 19,229 Tay Son, NgaTu So Ward For the year ended 31 December 2015 Dong... of these separate financial statements PETROUMEX PETROCHEMICAL CORPORATION - JSC Floors 18 & 19,229 Tay Son, Nga Tu So Ward Separate financial statements For the year ended 31 December 2015 Dong