DLG: Explains H1/2012 Audited Consolidated Financial Statements

H1 audited net profit attributable to shareholders of the parent firm fell by VND8.24 billion or 83.33% from an unaudited figure due to the following reasons.

·         Data on the financial statements of the holding company and of its subsidiaries changed after audit.

·         Accounting entries for consolidating data in unaudited financial statements contained some mistakes and data were not fully accounted for.

The firm also detailed the subsidiaries and affiliated companies whose earnings were/were not consolidated in its financial reports.

The company also explained short-term loan of VND3.5 billion and long-term borrowing of VND32.5 billion in its Notes to Financial Statements, clarifying that the lenders have no relationship with members of the Board of Directors (BOD); Board of Supervisors and Management Board.

DLG supplemented the Transactions with related parties during the period in accordance with Accounting Standard 26.

The HOSE listed firm also explained the late information disclosure regarding the dissolving of its subsidiary, namely Duc Long Ta Nung Da Lat Power JSC on Apr 19, 2012.