FINANCIAL STATEMENTS 2012(FOR THE FIRST 6 MONTHS)

FINANCIAL STATEMENTS FOR THE FIRST MONTHS OF THE FISCAL YEAR ENDING 31 DECEMBER 2012 REAL LINTATE 11 JOINT STOCK COMPANY REAL m A T E 11 JOINT SrOCK COMPANY CONTENTS Contents Report of the Directom Auditor's report Interim Balance sheet as of 30 June 2012 hterim Income statement for the f h t months of the Galyear ending 31 December 2013 Interim Cash flow statement for the first m o ~ t of h ~the h c d year ending 31 December 2012 Notes to the interim financial statements for the f h t month of the fiscal year ending 31 December 2012 8, Appendix REAL W A T E 11 JOINT SrOCK COMPANY REPORT OF THE DIRECTORS The Dimtam ofReal Estate 11 Joint St& Company (''the cmpy")present this rsport together with dh c i a l for t b M months of the &id year ending December 20 12 the d B a s i n f s s B Real Estate 11 Joint Stock Company (previously called House Trading Joint Stock Company of W c t 11) was estab1W on the h i s of the quitidon of the Se-d company (Housa Treding Joint Stock i h p m y of District 11) in with the Decision No 57301QD-UBdated 31 bcembar 2003 of tbe Chairmati of the People's =ee of Ho Chi Minh City The compamy Has been opsrating uaderihe bush= registmion d c a t e N o 4103W27W dated 22 Octobsr2004 granted by tfK Dqadment of PlsnnIng and Invesbmunt of Ho Chi Minh City -bed capital as in the bllsiness reghadon -: Sharehbiders RESCO Shouecapital(VND) 21,840,000.000 14-559.950.000 36399.950.000 Rate (%) 6Q The company's stock have bsm listad on Hawi Stock Exchange since 06 JanStock code of Dl 2011 under tbe Olhers Total 40 100 Headow Address Tel, Fax Ed1 Tax code : 205 Lac Long Quan, Ward 3, Dh&ict 11, HoChi Minh City : (84 8) 38 587 107 : (84 8) 39 636 186 :r w t l l ~ v n :0300540937 - Main walls ofthe c o m p y as in the business q h a t i o p d f i c a t e : Trading how#; Building up industrial works, pubk woda and houses; P s s f m i n g interior decoration semi=; hhufwtwhg and trsrding coIlstruction makrids (not at the the o h % Designing civil oonstruction works, i n d d works; Besigning W space of constra~ctimworks; designing interior d -or construdon works, Consulting, supmising civil and i n m 'on w e Pteparing mstruction investment plans; hvesting m idmstructures of a m s and industrial parks; LeveIiag gram& M s t i a g sewices of leasing houses, plants and warehouses; Providing p p r t y ssrvicss; Acting as agmt of goads w i r i n g ; Designing stmdmes of civil aad industrial worSrr; Leasing officw; Manufacturing oonstructing materials (not-at the hem3 office); Excahg pmfhhicated wncmte building componcntq Building up civil, ind& and traffic w e , Ptoviding servicss of civil d industrial sanitation; h i d i n g parking semices; Clving and preserving trees; Trading household appliances, fwd, beverages and domatic c m (excapt for @ding eateriag s e w i ~ hTding real estates, Pruvkhg property b d m a j p h c c ; Providing property appmid h c e ; Providmg red e&ate floor bees; Providing pfoperty muulting setvice; Providing property d o n service; P e r f d g properly advertising m i c e ; Managiog d estate; Providing sewices of pschml akdion, primary ddm, secondary cdwath, high-school education, vocational t t d q (not optrolting at the head ofice), college (not opecatiag at the head o h ) , uaiversity and postpdmte (not m t i n g at the h a d office); Providing e d d d sports and sntertainmeot;Providing othet educational -ices mtedalefPects on the co-v I -ti@ nt The company's m a u e in the cummt period has been d e a m d significantly in cornparisan with that of the same period of the previous year mainly b m s e of the decrease in number of installation and construction works, which have hm completed and handed over REAL W A T E 11 JOINT COMPANY m R T OF THE DIRECTORS (m) Finandal mdtbn and bushew The fmancid position as of 30 h e business results, and the cash flowsrforthe fkst months of the fidysar snding 31 W b e r 2012 of tbe campmy have been expssed in the interim financial statements attached to this report (from page 06 to page 321, Jmzz wmmmma The Dimtom of the company hereby confirm that them have been no ewnts from 30 June 2012 to the date of this rqmrt, which d any adjwiments on the figures or the disclosum in the interim b i a l -entP T L e B o a r d M O f h m The B d m m b m and the Executive OfEcsrs of the cumpany during the period rvnd as of tha date of this report include: Full names Position Appointing date Mr.Hu,ynhCaoNha Mr.Tran Thanh Bach Mr.Dmg Huu Thmh Mr.Tran Ngoc P W n g Ms.T m Thi Kim Hue Chahm~ bber O & O d ~ b r2009 08 October 2009 08 October 2009 Member Member 08 October 2009 08 October 2009 The ConM Board Full names Ms.Tran ?'hiKim Loan Mr.Vo Kim T h o Ms.Nguyen Thauh Hoang Tram Position Chief of Board Member Member mtm~date 28 April 2010 28 A.&l2010 28 April2010 Full names Mr.T m Thanh Bach Mr.Ta Quang Tu Mr.h g Hw Thanh Ms.Tran-TkiKim Hue Mr.Nguyen Kha Giang Position mtmgdate 16Wber2009 GoncdDitector Deputy General Brator 08 -bet 2009 Deputy O e n d Director - 16 October 2009 16 Octok 2009 Deputy General Dimtor 16 October 2009 Dsputy General D k t o r Member + Resigning date Reswhtc - Resigning;date - 26 March 20 12 - - Auditoq Auditing and Cwsulting Company Liiifed (A-BtC) has perfmed the review on th'e comm's financial statements for t&e first months of the d s d year ending December 2012 Confirmation of the The D i i of the company am mpmiible for the preparation ofthe h t m d s#mats to give a true and fair view of the b i d position, the business results, and the cash flows of the company fw each of the company's fiscal year In order to prepare t h a inkrim lkncid shtmmts, , theDirectors wrst: select t k yqmpriate accounting policies and apply Lcm oonsistmw make judgments and estimates prudently; state clearly whether the accounting standards applied to tbs company are f o H d or not, and dI the mrlterial differences from these stan&& are d i s c l d and e x p W in the b c i d statcm~ts;and prepare the financial staternen& of the mmpmy on the basis of the gohg-concern assumption, except for the cases that the goingasnmptimis considerad inappropriate, REM PSTATE liJOINT SrOCK COMPANY REPORT OF THE DIRECTORS (&) Tbe D i i k & y c n s t t r e W d t h e r q ~ d d a b o v e h a v e b s e n f i l l d ~ t b a f ~ i a l ~ ~ ~ ~ ~ a l l t h e ~ ~ g b o o h o f ~ ~ h m c d d and can fairly reflw tbe financialpsition ofthe compatly at any tinte, and that a11 the int%rim fmucid sWmmts have baen prepared m complience with tha pvai?ing Viehamess aocolmtiog syatm and standards on the w s t a m TheDirectorrsbave~~~~bedh~f~iaf~.Theinterim~ci r e f d to above give a trw a d fair view of the &uwiial p i t i o n as of 30 June 2012, h e ~ r e s u l t s a n d t h e c a s h h f w t h e f i myearending31 l DeGember2012ofRealbbte 11 Joint Stock Company in o a m p l i with tfie prwaihg Vi-tdw accounting standards and syskm, which have been issued to@m with the Decision No 15/2OOdlQ%3TC dated 20 March 2006 of the Minister of Finance as well as the c k c u h of the Ministry of Finance giving & h c e on l h the accounting system eD Date: 13 August2012 i e cbffiTY TNHH g$hd TOAH VA ~ t f v h A U D m AND CONSULTING m,LI g Khoi St,Msr.1, Ho-Chi M i City Tel: (84.8) 38 272 295 Rx:(84.8) 38 272 300 B d i n b M o i :40GiangVoSt,DongDaDist.,HaNoi~ Bmnch in Nha 'kaPg : IS Tran Khanh Du SL,Nha Trang City BmnchinCan'Iho :162CI~TranNgocQutSt CanTho~ty :229 h - -.a4mm.m No.0695RO12/BCTGKTTV AUDITOR'S REPORT ON THE REVIEW OF THE FINANCIAL STATEMENTS FOR THE FIRST 6MONTHS OF THE FISCAL YEAR ENDING 31 DECEMBER 2012 OF REAL ESTATE 11JOINT STOCK COMPANY THE SHAREHOLDERS, THE B O D OF MANAGEMENT AND THE DIREmORS OF REAL ESTATE 11J O W STOCK COMPANY stakments for the first months of the fiscal year ending December 2012 of Red Estate 11 Joint Stock Company, including the interim h h c e sheet as of 30 June 2012, the interim income statement, the interim cash flows statement and the notes to the interim f m i d statements for the first months of the fkd year ending 31 W B e r 2012, which were p r e p a d on 16 July 2012 (from page 06 to page 32) We have reviewed the accompanying -cia1 The preparation and the presentation of these interim W c i a l statements are the responsibility of the Directors of the company Our responsibility is to express an opinion on these financial statements based on ow rtview We have conducted the review on the ~ccompanyinginterim financial statements in accordance with the Vietnamese Auditing Standards on financial statement reviews These standards require that we plan and perform the review procedures to obtain a reasonable assmnce that the interim finandai statements are h from material mistakes.The review is developed on the bases of our discussions with responsible staff of the company and of applying our analytical procedm on the financial information obtained Consequently, this review provides less assurance than a final audit We have not performed an audit, so we not express any audit opinion In the previous year, the company recorded the remaining m o u n t of the revenue from transferring An Phu Project in District 2, Ho Chi M i City and accrued the fee for general infrastructures contributed to the project investor to carry out the i&astruchlre for the main roads for the land area of 87 ha, of which the total value is VND 46.619.563.277 In which, the compensation for land clearance is totally VND 42.1 15,391.503, which is determined on the basis of the land area aod the temporarily calculated unit price of VND 16.214.2861 m2 (see Note V 14) ,Thisunit price will be adjusted afkr the findimtion with the major investor As of the date of this report, the finalization with the major investbr has not been carried out Yet Based on our review, except for the effects of the said issue, nothing has come to our attention that causes us to believe that the accompanying interim financial statements have not been truly and fairly presented, in d l material respects, in conformity with the prevailing Vietnamese accounting system and stand'ds as well as other related regulations This report is made in mo Imguages (Vietnamese and English), both of equal validity The Vietnamese version will be the original for reference when needed lting Co.,Ltd (A&C) - Ngnye~Thi Phum Tien Auditor A d i t Certiicate No.119 m Ho Chi Minh City, 13 August 2012 -A"K?~E INTERNATIONAL '::*pl *: &/ * REAL ESTATE 11 JOINT SrOCK COMPANY Address: 205 LaclangWa1d3,Dhfdd 11, HoCbiMinhCi INTERIM FiNANCLAL STATEMENTS For t h e M B d o f t b e f m d y m r d i n g I December2012 INTERIM BALANCE SHEET Unit: VND Code A - CURRENT ASSETS Note 100 110 111 112 IL Short-termhutments 1M 121 129 Shorc~inve.stmw~b Provisions for devaluation of invdma& 130 131 I32 133 lv Inveato* Irides Rovisim for devaluation of hvmtmk V* Other c u m a t assets Short-term prepaid expmm VAT to be deducted ' r ~ ~ l r n d * ~ d v a b l t h m t b e ~ Trading Gommmt bonds other^^ V.2 V.3 REAL ESTATE 11 #)INT SrOCK COMPANY 205 Lac Lmg Qwn,Ward 3, Wct 1I, Ho Chi Minh City INTERIM FXNANCfALSTATEMENTS ForthefIrst6momtbsofth~yesrratding31Dscember2012 Interim balance d m t (Con.) Ad- ASSETS B - LONGTERM ASSETS Long-term accornb rccdvabk Long-term aunw mdvabk from Workhgcaphlat~ ~ ~ i n *- Cade Note l e - m ~ ~ ocher long-term raFeivabk m i a n s for I d debta m Investmemtptoperty hi st mid^ A m m h t d depreciation IV Long-term 1~vestmenls Investments in Investments In bnshess cmams and joint m@cs Othsrlong4amin~ Provisions for devahmim of longdem inwstmmts TOTAL ASSETS fit% ~tuiemed be d kr -on wirh ikt nofar to the kdbrh*d i-rrts End& balance m i n g babne REAL M A T E 11 JOINT STOCK OOMPAMY A m 205lLacLmgQuen,Wd3,Disffiet 11, HoCbiMinbCity INTERIM FINANCIAL STATEMENTS F o r t l ~ f i r s t ~ o f t h e ~ y a Decembw2012 r ~ Merim Imbnoe sheet (COW) Code L CU-t shortaamdebtsaudloans Payable to sltpplim I Note Ending balance IhbiHtb ad^^^ Taxes and aabes obligations to t h State Budget Papbletoemp1oybes Accnzedexpeases hter-cmpuy payable Payable according to the progress of comtrwtion ContFncts 10 11 12 0th payable Provisions for short-term ~~W e Bonusandwelfarcfimd Trading Oovernment b d s IL Long-term IiabilItk Long-~ac#um~ie#snppIiers Long-tumin~ypqabb mer1oag-twmpayable Long-tsrmdcbBandl~ DeferrediwomseEax~le Provisimforuwq~all~ R O ~ 1 f o r ~ ~ ~ p a y a b l t U m e d revmu Scimcc dtehologypromod011 L ~tr'leg~ity 2 Capital ShnrepPemipms otb~ofcepital TrPaslPy~ D~m~rwaluation F o m i g n ~ d ~ c c s Businwfspromotionfmd FhancU~fimd Othetfimds 10 ~ C a l n i n g s 11 ~ i n ~ f i m d 12, B u h s s ammgmmt supporting fund TOTAL LlABlLITIFSAND OWNER'S EQUITY 140 Tktsstafemmt should be red in c o ~ d o with n ikb notes to !h In&&- 167d48181.661 REAL E-ATE 11 JOINT STOCK COMPANY Address: 205 Lac Long Qum,Ward 3, Dhct 1, Ho Chi Mixlh City JNTERIM FINANCIAL STATEMENTS For the h t6 months of the ikcal year ending December 20 12 Interim balance sheet (ConL) OFF- BALANCE SHEET ITEMS Note ITEMS Ending balance Leasebold assets Materials and goods kept or processed for athers Goods deposited by od~ers Bad debts already treated Foreign currencies Estimates for non-businessand project expenditure Nguyen Thi Pbuong Tam Prepnrer Chief Accountant General Director ?%is statement should be read in conjunction with the notes to the interimfinancial statements Beginning balance REAL eSTATC 11 JOINT SrOCK COMPANY Ad&xsx No.205 k Long Quan, Ward 3, DWct 11, Ho (=hi Mhh City WTERlM FINANCIAL STATEMEMS F o r ~ f n s t ofthe ~ fiscal yareding31 Decsmber2012 No- to the htterim fhanchl (m) 17 Financhi kabiIMm and owner's equity Financial instnrments am cIassificd as fkuwiaI liabilities or equity ' ~upanthedaksof initial recogniiion m confomity with the mtum and defmitions of finamid IiaWiticw or equity ~ l i a b U i # h The company classifies its hcialliabiIities into such gou ups as fbrruIciaI liabilitia m o p b d at fair values thou@ proM ar 1- statement or l h m d l i a b i l k determiad at tbeir a l l d values The c l a w i i ofthese financial l i a b h depeads on tbe natures d p q m e s of the fipmciai liabilities and is debmined at the date of W recognition Finmcbl liabilitia mwgnized fair values t h q h p r o f l t or loss statemmt Fhmcial l i a b i i is classified as the W i mcqnhd at fair vahae though profit or loss statement if it is held for trading or is a q p r h i in the group of liabilities reflected at fair vdw through profit or loss statcdnewt upon W recognition Financial liabilities will b classified as securities held for trading if: It is issued or dd d y for the purpose of redemption in a short term period, The comprlny h t a d s to bold for the p p e of gaining profits in a short terrn period., Itisadsnva$ve financial instnmmt (except derivative fmanciat iastruments idatifid as a financial guarantee contract or an M e risk protaction hdmnat) F W ZiubiIities defermindM k i r all-d values A fmcial liability is detcmhd at its allocated value which is Qetermined equally to the initially recognized value of that h c i a l liability less the prhipds which a COW has to repay, pIus or minus ttae accumuW allocations dcuhbd based on the actual inmethod of tbe difference &wea tie initially recorded value and the value upon maturity date, minus the deductions ( d k d y or h g h a provision account) due to impairment or since it cannot be recovered Actual intcmt method is a method of calcuhhg t h allocated value of one h i d liability or of a p u p of financial liabilities and distributing incomes or expnmi in tlPe r e b d pdud The effective W s t rste is the discouathtm& rate of cash flows e h a h d to be settled or obtaid in the future throughout lhe e x p W lifb cycle of a b i a l hmument or in a shorter period, if ,-n to return to lhe uurmt nct w i n g amount ofa U liability Initial cmymg mttotrnt of afimic11liubilify At the date of initid recognition, the financial W i W y is &ermined at the h@ng p r b plus other msts diredy relabbd to the issuance of that W i d Iiability elw-w Equity b e n t is the contract which can prove the remaining beae&s in the assets of t k company aRer deducting all of its liabilities, C o n r p U n d ~ ~ ~ ~ A compound f b n c i d instrument issued by a company is classified into lhbiliv mponent aod ' equity c o m m based on the contents as a g e d in the contracts rts well as baslgd on the def~tionsof a b i a l liability and an equity hmument Ths equity component is Atemined as k remaining value of the financial htmment after deducting tbe fair value of the liability component The d u e of a ~ V instnunent G (such as contract on sale option) manpmhd with a compound fmncid htmment and not belonging to the equity component (such as the option of equity conversion) will be pmentud in the liability component, The total carryine mount of liability and equity components upon initial recognition will equal to tha fair value of fiasncial instruments Thew notesfarm an htegrdparf qfand sh~uldL d k r c a q b d o n with ihe i n t s r l r n - m r r l s 19 REAL ESTATE 11 JOINT STOCK QOMPAMY Address:No 205hLongQuan, Ward3, Disbict 11, Ho ChiMinh City INTERIM FlNANCtAL STATEMBNTS F o r t h e f i r s t m o n t h s o f t h e ~ y e a r ~ 3k1u m h 2 N o h to tLt interim h a m c h l s h k m d a (w) 19 -g ~ C m W w otbs~ Financial assets and h c i a l liabiMos will bs o m against e d l other and are reflected at their net w b s on the bidam sheet wha, ad only when, tbe company: h a s a ~ r i g t r t t o ~ t h e ~ ~ t s ; a n d has intention either to settle on a net basis, or to realize the w e t atld to settle the liability s i m ~ l y m e a t rqmdmg A bush- scgaoeot is a dkhghkble component of the company that is engaged in @ding au W d d pmhct or &ce or a group of related products or 4- and that is subject to risks and retunrs that are different from those of ohm business segments A geographical segment is a distinguishable e o q n e n t of the comprrny that is engaged in providing products or services witbin a particular economic environment and that is Wect to risks and robmu that are diffexmt from tbose of m q m e n t s opersRing in other cwmmic environments 20, Related partia A~isconsi~amW~ofho~mpanyia~~partybabletocontrol~ company or to cause material e f k t s on the financial decisions as well as the +om of the company Parties am also considered EWparties if they am mlldvely under the same control or material effects Considering the rehthship amoog r e W parties, the important than the I@ form ofthat relationship V nature of the relationship is more ADDmONAL INFORMATION ON THE lTEMS OF THE INTERIM BAUNCE SHEET Cash arrd cash e q u h b b Ending balance 47.951.912 Cashonhand Cash in bank T d RedvabIe from customem EnReceivable from house trading Receivable &m construction and installation Bepinning balance 672.799.728 balance %.OOO.000 works 1.030.479.847 Total 1.W79.847 Prepayment to sapplienr Ending b h m e SCREC Othem Total 7.300.839918 r.300.839.9 18 , REAL ESTATE 11 JOINT STOCK COMPANY Address: No.205 Lac Long Quan, Ward 3, District 1, Ho Chi Minh City INTERIM FINANCIAL STATEMENTS For the h t months of the fiscal year ending 1December 20 12 N o w to the Interim financial statements (cork) Other mdvahle Ending balance 968365391 Begianing balance 21.400.000 660.150.000 45.154.979 22.820.065 749325,044 Eadine balance Beginning balance Sales of shares to be collected from employees Deposit interests expected to collect The Project Management Unit of District I.400.000 812.322.222 45.454.979 89.188.090 Other receivable Total Inventories Materials and supplies Work-in-process 18.648.007 2.768.414.486 Tofal Increases/(decreases) af tangible fixed assets Buildings and stractam Vebicles Ofiice equipment Total ~ t o r i c acosts l Beginning balance Liquidations and disposals Ending balance In whichAssets being fully depreciated but still in use Depredation B e g h h g balance Depreciation Liquidations and disposals Ending bdance Net book values Beginning balance Ending b h c e In which: Assets temporary not in use Assets waiting for 2.147.856.804 1.663.486.932 643.132.980 572.600.094 34.876.915 26.139.943 ' 2.825.866.699 2362326.969 treatment Investments in associatw and joint ventures This is the investment in Dai Hung Phu Real Estate Co.,Ltd According to the business registration certificate No 0309366923 dated 07 September 2009 granted by the Service of Planning and Investment of Ho Chi Minh City, the company invests in Dai Hung Phu Real Estate Co., Ltd an amount o f VND 140.000.000.000, equivalent to 40% of this company's prescribed capital %e notesf w m an integral pari of and should be read incoqjucrion with the interim~inancialstacemenis 21 REAL ESTATE 11 JOINT SrOCK aMPANY Addrew No.205 LacLagQwn, Ward3,DistrIct 11, HoChihiUCity INTERIM FINANCIAL STATEMENTS For the f W d oftkMysarmding31 Deccenbar2012 Nofa 40 the interim 6nai1cial statemeats (w) & Otherbng-term ass&+ This is the deposit to gmmbe mnstruction co- Short-term haw d d e b These are the short-term loans h individuals at l t e market incumpauy's working capital r a m to support the Mr.Nguyen Van Dung Mi.LsvanSy Tran Ngoc Vu Fte Oth~rmppl~ Total 11 12 - ~ f m cutomem m This is the advto pur&ase land as wall as htalhion and d o n wow T n x aed ~ otbtr obligatbws to the State Bud@ VAT on l o d sales Coqmmte income tax P d income tax Land rental Other taxes Total Amount payable Amomt Ending -paid balance 68,657.991 (506.019373) 68.657.991 - (449.rn.095) 8.944.841.149 209.9 14275 ( I 78.777.692) 264.542.434 156.370217 (156.370.217) 3.m.000 (3.000.000) 3 m a ~ m ~ (1.~93m2rn 9~7&wi.s74 bdam~ 506.019.373 9.394248.020 233.405.85 - - V d w * d m (YAlJ The company has paid VAT in line with the deduction method at the rate of 1Woo Corporate Incum im The company is responsible to pay corporate h m m e tax far its taxable,income at the rate of25% E M mpomte income tax payable during the &od Total accounting profit before hmsd(d&rease) of a c d g profit to determine pro& subject ta corponrte incame t8x is as follows: Aa~umdatd fron the beginning of the year C m n t war P M o m year 322.818.458 - &#erne Income subject to tax Income Wig exempted from tax Lases of the previous years brought fbmard Tmable income Corpomt~income tax.rate Corporate income tax payable 322.818.458 - (322.8 18.458) a 25% - 9.288,05 1.358 - a9 :$#R rob f- v$ REAL m A T E 11 JODlYT SrOCK aMPAMY Addrew No.205~LongQpran,Wd3,DWht 11,HoChiMinbCi INTERIM PINANCIAL STATEMENTS F o r ~ ~ ~ o f ~ ~ y e w e n d December2012 I n g 1Y- to the laterim flnatlcfil statem-b (m) Larrdw The company has to pay rentals for the area of 7.520 m1of land at No.7& Thoai Ngoc Hau, Hoa Thanh Ward, Tan Phu DistFict, the araa of 225,99 m2 of land at No.418 Hong Bang, Dimict 11, Ho ChiMinh City andthe a m of 1.909,5 maof land at No.205,kLiongQuan, Dh& l l , H o C%i -,City OaAer- The company has declared and paid tfiese tsxos in l i e witb the regulations 13 Payable to employem This is the salary to be paid to employees The approved salmy unit prices in the year 2012 am as hllm As far the field of service pvisim: VND 85,75 on VPITJ) 1.000 of revenue Asforthefieldof~n,ofwhi&tha~rrreprefraredbytfie~ the salary fund is extmchi at the rate of 70% an t k gunera1 expmes kept by the company and at the rate 1% on mabk inoomsking a h k e d in advance accordipg to the interd findidan 14 Accrued e x p e n Ending a A w d for the expenses on the trader of An Phu Projec4, M c t 2, Ho Chi Mi& C i (*) Accrual for guaranteeing Chi h u g School Acuudfor~errpenses Other expenses - Total Begjanhrg baQncc 44.649.563377 ,183.656.853 2.624.5 18.757 3.567.728 49.461306.615 46.6 19.563277 183.656.853 280.72 1.545 - 1.021.365 47.084.%3.040 (*)This is the fee for gamd h h m c t m d b u t e d to the project investor to carry out the hhdmdwe for the main mds fw the land of 87 lm In which, & compensation for land clearanoe is totally VND42 115.391.503 Ending balance Payable of equithtim h i p # of -its to-1 olhar payable Totrrl 16 Imd mhce Beginning balance lM).800.000 1.432.060.000 927.886.850 2.460.746.850 100,800,000 1,471.U60.000 820,191,632 2392.051.632 Bonua and aretfare h d m I n c h by Bon~fhd Welfare f i d Banwfundfor the Board of Management and Board of -1 Totat BeginrInp extraction from kfanoeprotit 7.481.632.542 2.207.245.477 Other h c ~ e a ~ Disbnrsemenls e~ Ending balm& - (800.643 -700) 6.680.988.842 ' REAL ESTATE 11 JOINT SrOCK COMPANY Address: No.205 Lac Long Quan, Ward 3, District 11, Ho Chi Mi& City fNTElUM FINANCIAL STATEMENTS For the k t months of the fiscal year ending 31 December 2012 Notes to the interim financial statements (cant.) Long-term loans and debts These are long-term loans b m individuals at the market rates to suppmt the company's working capital Provision for long-term accounts payable This is the provision for the work of the apartment building at No.336 Nguyen Van Luong Owner's equity Sta&mnt o n f r u c t d n in owner's eq&y Information on the fluctuation in owner's equity is presented in the appendix on page 33 VL ADDITIONAL llYFORMATION ON W ITEMS OF THE INTERIM INCOME STATEMENT Gross sales - Salesfiom consCructr'onactivities - Salesfrom learing warehouses and stores - Other sales Deductions Total Accnmdated from the beginning of the year Previous year Current year 40.302.308.299 39.158.011.026 1.062.342.728 81.954.545 Costs of goods sold Accumulated from the beginnhg of the year Current year Previom year Costs of construction activities (*) Costs of basing warehouses and stores 1.126.819.156 30.762.756.105 Other costs Total (*) Costs ofconstruction activities are as follows: Direct materials Direct labor Expenses on machinery to execute construction Accumulated from the beginning of the year Current year Pteviom year 795.707.642 12.892.752,842 449.144.546 8.084.3 16.081 works General manufacturing expenses Total rt~curufacfuringq m s m Difference on work-in-process Costs of construction contracts These notesform an integralpart of and should be read in cotjunction with the i n t e r i m j f l ~ ~ istatements al 24 REAL ESTATE 11 JOINT SrOCK COMPANY A ~ N o L a c L o n g Q t mWard3,D&iall,HoChiMinhCity , lNTERIM FINANCIAL STATEMENTS For the h t months ofthe &cd year ending M b e r 2012 Notes to the interim fiaaechl statemmb ( m a ) - Accumulated fmm the m C n m t year Term d q d i t htaWs Demanadeposit~ Didedsdpiitshrlred Total 156.995.810 2.290.670 150.740.806 310.021386 g ofthe year 2.1 11399.135 11.956.676 - 2.123.855.81 f Ac~lunlrbrtedfrmn the m n i n g of the year Expedlses for employees M a k U s and supplies Depreciation offmed ass& External service rendad 0ther expenses Total Accmmolated h m tbe beghing of the pcar Current ~r Prevkm year Gains from liquidasions and disposals of fixed wws Other i n m e Total .304545.454 1.363.636 ~ m - Earninga per share Acamdmted h m the beginning of the year' Accounting profit after caprate h e tax Increasel(decrease) of acoormting pr&t to determine profit attributable to holders of ordin- shares Profit atbibtriableto holders of d i sham Average o r d mshares oubtauding during tbe 322.8 18.458 (*I Elvniogws'== (*)Average ordinary shares outstanding during the perid are calculated as follows: C n m t ycar Previous y d r Ordinmy shares outstanfig at tbi beginning of the ~etrr 3.639.995 2.600.000 'E&b of ordinaty shares hmed in September '2009h m retained earnings Average ordinary sham ontstandhg dm* the period %e - 1.039.995 3,639995 3.639.995 notesform an ~rrteplpartq f d s w bt &c ca@ntdon with th h ~ m j n o w i statements d 25 - REAL LSTATE 11 JOINT SrOeK COMPAW Addrew No 205 tat Long Qum,Wlvrd 3, DMct 11, Ho Chi Miah City MlEMM FINANCIAL STATEMENTS Fwthe~6m0nthsofthe~yearsnding31hamber2012 Nota to the interim h d dsfatem(coot.) DrPing tfw year 2011, the company has i n d its @bed capital from retained earnings Therefbre, tba d g s per share in the pwious ymr have beea adjustad m r d i n g to these a d d i t i d figures This retroactive Hdjwhmt has matie the d g s per share in tbe previoas p a i d decmsc from VND 3.572 down to VND 2.552 Accumrlated h m the kgimdmg of the year Matwhh and supplies Labor -an of &ed assets IWmal sewice rendered ~ - w - s Total - Tmuschm wh$ related partla -ns w M key ~fllnugersand M h d h W a h The key managers and t h related individuals iucM the members of the Board of -t, the Directors, the Chief Accountant a d their family members Income of key mafia%ers is as follows: - A < - Acctunmbkd h m the begtnniigof the year saw AUowame!3 Bonus k i a l imirmce, heal& insumme and unemployment dlowances Total lkammtlons w&h orkarddWpm& Other r c W party ofthe company only includes Resco - the parent company During the period, the company does not have any &on with Resco As ofthe balance sheet date, ihe a m m t payable ~ to Resca are as follows: Ending b a h ~ c e 100.800.000 'State capital payable ~PrepelymenttopurchasstblandatPhuMy -project Tow accoumis payable lksem f b n r rw htepdpml ofand should bs d k c a j w d hwiX4 th ~ ~ r f A l stahmen& ~ f a l 26 REAL -ATE 11 JOINT SrOCK COMPANV m No.205 Lac Long @an, Ward 3, District 1I, Ho Chi Minh City A NlWUM FINANCIAL STATEMENTS F o r t h c ~ m o n t f i s o f t h e ~ ~ ~ ~ 2 N o h to the interim h a d l stateremis (ma) 2, ComparatitfcQnm During the period,the w p m y has prepmd the decIaration form o f & d tax to adjust ihe corporate income tax payable of the year 2011 mpmkW e Effects ofthis issue on the compative figum of the previoua pwiod arc as foF'iasinthe hcial s t a t e m d s of the Code previcl.bsytar Adjrrtmm4 F -k m after bcirgadjustd Edhwesba Taxes and other obligations to the ! M e Budget 14 Retained earnings 420 segment in for ma^ The campany's segment Whmtiotl is prtsentbd a c a x h g to business segmmta and geographical segments The primary q d n g format is the business s o p a t s b a s i i on the i n t s d o q m h t i o n a l and nmagamt strudue as well as the system of h t e d financial reporting of the compary B h - Tbe wmpany has had the folIowing major business segments: - Real estate trading:mmfexring d estate projects Cmskdon and h s t d a h r building up civil works Other segments: trading supplies, leasing warebowm and atc I h m a t b on business d t s , fixed assets, other 1ong-m assets and wn-cash expenses of high valw ofthe company's business s e v is as fo110ws: Consmclion and hlstdhtiom Real Estate tradhg other segments Deductlonr Total Current perlod Net-di- fiom goods and d w s sold to external customers Net sales from goods aud services sold to intersegment Toiolnelsak B u s h resuits of Nmof segment - 14.155.939 933.101.899 - 847.257.838 expms Profit Financial iocomc FinaacislO k h e -=P== CllrmntcorpoIldeincome tax Defemd-tS incornem mmem T h e notmfarm m integralpmt q f a n d e w be r e d in Mljrurction with the hterirnflna~~~hl sta&rnellls (1.125.678.145) (138.420.307) 310.027286 (11 1.697.61 1) 305,909.090 (3.000.000) 32261d.458 27 REAL ESTATE 11 30INT STOCK COMPANY A d h w N o taetongQuan,Ward3,District 11,HoChiMinhCity INTERIM FINANCIAL STATEMENTS For the k t months of the fiscal yaw ending IkanW 2012 Notm to the interim f h n c h t stmtements (writ) Constmetlon mnd Rml &ate - Other Total wha qfnm+a& (-wl@r a - and- -eP=@ aflo~rgI Previous p e r i d Net sales kom &snd m c t ssold to extanRl - - customm Natdoshngmdsand d c e s sold to inter- ofRo5t ~ k i income h F h c i a l cxpmcs Other incoma t hv Cment aqmak income tax Dsf#rodcorporat& incometax hffsqPah W e noksjhm an integral* fldsholrld be rsad h cotgbmdiwtw#k tk htarinr@&t@@ s* 28 REAL m A T E JOINT StWK COMPANY Ad* No.205 Lac Long Quan, Ward 3, District 1I, Ho Chi Mfnh City lNlERlM FlNANCIAL STATEMEMS For the h t months of the fiscal year ending Decemba 2012 Now to the Interim fhmcIal statements ( W ) Assets and liabilities of bsegment are as follows: Commdnm -date Other segment and imtdhtbn Dductbns Endlng bahw Direct awm of =P='t 157.3%.839.91% 3.865.106.869 12.617.1 00 - 1.620.554.530 1.495.878.065 ot w As!m?notakmd Total - to merit I6 1.274.563.887 3.1 16.412.635 3.057208.139 167.UdIMbdf T&-& Direct hbilab of =a 56.260.404.426 kbalimdamted to =Went Liabilities not alIocakd to segment TotalhbiI#& - - 1.905.275.698 f 985.4M.677 2.078.599.150 - 1.918.706.908 60.151.082.801 3.997.306.058 13223.1 13.666 77.3 71.5@2535 Beginning balance Direct assetsof =m As!idsall.acatedto Assctsnotau~ to segment T o M ~ Geogmphhls~mnts - The operations of the company primarily taka p h in Vidmm+ Baokaatree Ending b a h e e Finmdalasaeln Cash and cash quidenis Receivable h m customers Other &able TOW 276.486.584 1.126-479-847 3.468.365.291 4.87l33l.732 baba 684.375.156 7,736.443.430 3,249.825.044 11.670&43,630 Fair values Edhg balance 276.486.594 1.126.479.&17 3.468365.291 4.871.331.732 l h e twteafom m e p u r q f d h l d k readin cor@ncnncnon with tks interimfinancial 8- m!mh!!, balance 684.375.156 7.736.443.430 3.249.825.044 11.670.643.634 29 REAL ESTATE 11 JOINT STOCK COMPANY Address: No.205 Lac Long Quan, Ward 3, DWc? 11, Ho Cbi Minh City INTERIM FINANCIAL STATEMENTS For the h t months of the fiscal year ending December 20 12 Notes to tbe interim financial statements (cont.) Book d u e s Fair values Finrmncid liabilitits Payable to suppliers Loans and debts Payable to employees Accrued expenses Other payable Total The fair values of the financial assets and financial liabilities are presented in line with the amounts, according to which, the financial blruments can be converted in a current transaction between parlies who fully understand and wish to trade with each other The w m p y has appfid ihe following method and assumption to estimate the fair value: Fair values of cash on hand, short-term deposit in banks, accounts receivable from customers and payable to suppliers as well as other current liabilities are equivdent to the book vaIues of these items since these instnunents have short term periods Collatersrls The company has had no collatds given to other entities as well as collaterals received from other entities as of December 20 11 and 30 June 20 12 Credit risks Credit risk is the risk that one contractual party will cause a loss for the company by failing to pay for its obligation The company is exposed to credit risks mainly fiom business operations (accounts receivable h r n customers) and ffnancid activities (cash from bank) Receivable fiom crntomem The company minimizes its credit risks by having tmsactions only with the entities which are assessed to have gocd financial positions and by rsquiring immediately payment towards new customers.The company's accountants always foliow up the accounts meivable from customers and speed up for the recoveries Additionally, the company's receivables are from various customers Therefore,the credit risks not concentrate on any certain customers ' Cash in bank Most of iha company's deposits are in large and trusted banks in Vietnam Therefore, the company believes that the credit risk for its cash in bank is low Liquidity risk Liquidity risk is the risk that the company will have difficulties in paying its financial liabilities, The Directors of the company take the highest responsibility to liquidity risk management The company's liquidity risks mainly arise fkom the differences in maturity dates of financial assets and financial liabilities The company's approach to risk management is to maintain an appropriate amount of cash, cash equivalent and loans, which is sufficient as judged by the Directors, to meet the company's operation demands and to minimize the effects of the changes in cash flows to the company These notesform an integral part ofand should be read in conjunction with rhe interim+id statements 30 ' REAL ESTATE I1 301NT S I W K COMPANY A ~ N , t a c L m g Q u a n Wd3,District , 11, HoChiMinhCity TNTERlM FINANCIAL STATEMENTS For~aht6mmthsofttse~~~31Oswmbsr2012 Notes to tbe Interim *cia1 s t a w t s (coal The tams of payments to fbncial liabilities (incIuding loan interest ex.psc) are b a d on lhe undhuntcd payments qposed to make according to the contmcb.Details are as follows: From 1year Under I y a r yeam Oversyeatar Total Ending lml&nce Payable to suppliers Loansand d e b Payable to s m p l ~ -Oeherpyabk Totd Beginning balance Payable to suppliers Loans and debts Payable to emplow Accrued expenses Other payable TOM The risk comemath level from m e a t s to fmcial lhbilities is low The copaptmy bas sufficient capacity to settle d due debts from Its flows from opaatians and gains from maturs~ialas!lets Marlpet* himkt risk is the risk that the fair value or cash flows of a financial instrument will fluctuate due to &an@ in market price^ There are market risks of h company, including foreign currency risk, h t e m t rate risk and other price risk Fo* currency rhk Foreign cmuncy risk is the risk that tbe fair vallmes or cash flows in.the futura-of a hancial insbment will fluctuate due to cbangm in achaqe mtes The company does not have any forsign carrency risks since the sales and purchases of goads d service are done in the accountingc w m lmit ~ ~ ofVND * Interdrate Interest rate risk is tbe risk bat the fait value or cush flows of a f-cid due to changes in m a b t inter& ratss ' ' t will flu&ate The company's inkrest rate risk is m h l y related to cash and short-term deposii aud loans The company contmb the intunst rate risk by analyzing market hvorable inrates, which are still under its controlling abiility to get the most The compmy does not make any sensitivity adysm for W rate since the e&cts due to c h a q p in iutuest rate as ofthe balance sheet are not sigeificant m m SrOCK COMPANY REAL EmAm I1 Addm~No.205 XacLmgQusn, Ward3,Disbict 11, HoChiMinhCity INmRlM FXNANClAL STATEMENm F w b h t d o f t b e ~ ~ ~ ~ U ) Nates to the inte* fbmcial w e n t (cant.) Nguyyen Thi Pb~ongTam Prepanr Tran Thanh h c h G e n e d Director ... Acuudfor~errpenses Other expenses - Total Begjanhrg baQncc 44 .64 9. 563 377 ,183 .65 6.853 2 .62 4.5 18.757 3. 567 .728 49. 461 3 06. 615 46. 6 19. 563 277 183 .65 6.853 280.72 1.545 - 1.021. 365 47.084.%3.040 (*)This is the fee... waiting for 2.147.8 56. 804 1 .66 3.4 86. 932 64 3.132.980 572 .60 0.094 34.8 76. 915 26. 139.943 ' 2.825. 866 .69 9 2 362 3 26. 969 treatment Investments in associatw and joint ventures This is the investment in... 3. 865 .1 06. 869 12 .61 7.1 00 - 1 .62 0.554.530 1.495.878. 065 ot w As!m?notakmd Total - to merit I6 1.274. 563 .887 3.1 16. 412 .63 5 3.057208.139 167 .UdIMbdf T&-& Direct hbilab of =a 56. 260 .404.4 26 kbalimdamted