2016_Separate Financial Statement Quarter I

Transcription

Vingroup Joint Stock Company
SEPARATE FINANCIAL STATEMENTS
QUARTER I - 2016
CONTENTS
Pages
General information
1-2
3
Report of management
Separate balance sheet
Separate income statement
Separate cash flow statement
Notes to the Separate financial statements
4-6
7
8-9
10 - 39
Appendixes:
Group structure as at 31 March 2016
40 -44
Explanation for the variances of PL between two period
45
Basic financial ratios
46
GENERAL INFORMATION
THE COMPANY
Vingroup Joint Stock Company ("the Company") is a joint stock company established in Vietnam pursuant to
the Business Registration Certificate No. 0103001016 issued by the Hanoi Department of Planning and
Investment on 3 May 2002 and the Business Registration Certificate No. 0101245486 re-issued on 12 May
2010. The Company also subsequently received the 60th amended Business Registration Certificates dated
18 March 2016.
The Company's shares were officially listed on the Hochiminh City Stock Exchange ("HOSE") from 19
September 2007 pursuant to Decision No.106/QD-TTGDHCM issued by the Director of HOSE on 7
September 2007.
The current principal activities of the Company are to construct, trade and invest in real estate properties; to
carry out capital mobilization and investment activities; and to provide general administrative services.
The Company's head office is located at No.7, Bang Lang 1 street, Vinhomes Riverside Eco-urban Area, Viet
Hung ward, Long Bien district, Hanoi, Vietnam. Its branch is located at No. 72, Le Thanh Ton street and No.
45A, Ly Tu Trong street, Ben Nghe ward, district 1, Hochiminh city, Vietnam.
BOARD OF DIRECTORS
Members of the Board of Directors during the period and at the date of this report are:
Mr Pham Nhat Vuong
Mr Le Khac Hiep
Ms Pham Thuy Hang
Ms Pham Thu Huong
Ms Nguyen Dieu Linh
Ms Vu Tuyet Hang
Mr Ling Chung Vee Roy
Ms Mai Huong Noi
Mr Marc Villiers Townsend
Mr Joseph Raymond Gagnon
Chairman
Deputy Chairman
Deputy chairwoman
Deputy chairwoman
Deputy chairwoman
Deputy chairwoman
Member
Member
Member
Member
Resigned on 22 April 2016
BOARD OF SUPERVISION
Members of the Board of Supervision during the period and at the date of this report are:
Mr Nguyen The Anh
Mr Dinh Ngoc Lan
Ms Do Thi Hong Van
Ms Nguyen Thi Van Trinh
Head of Board of Supervision
Member
Member
Member
1
GENERAL INFORMATION (continued)
MANAGEMENT
Members of the Management during the period and at the date of this report are:
Ms Duong Thi Mai Hoa
Ms Mai Huong Noi
Mr Pham Van Khuong
Ms Nguyen Dieu Linh
Mr Dang Thanh Thuy
Ms Vu Tuyet Hang
Ms Nguyen Thi Diu
General Director
Deputy General Director
LEGAL REPRESENTATIVE
The legal representative of the Company during the period and at the date of this report is Ms Duong Thi Mai
Hoa.
2
REPORT OF MANAGEMENT
Management of Vingroup Joint Stock Company ("the Company") is pleased to present its report and the
separate financial statements of the Company for quarter I 20016.
MANAGEMENT'S
RESPONSIBILITY
IN RESPECT OF THE SEPARATE FINANCIAL STATEMENTS
Management is responsible for the separate financial statements of each financial period which give a true
and fair view of the separate financial position of the Company and of the separate results of its operation and
its separate cash flows for the year. In preparing those separate financial statements, management is required
to:
....select suitable accounting policies and then apply them consistently;
....make judgements and estimates that are reasonable and prudent;
....state whether applicable accounting standards have been followed, subject to any material departures
disclosed and explained in the separate financial statements; and
....prepare the separate financial statements on the going concern basis unless it is inappropriate to presume
that the Company will continue its business.
Management is responsible for ensuring that proper accounting records are kept which disclose, with
reasonable accuracy at any time, the separate financial position of the Company and to ensure that the
accounting records comply with the applied accounting system. It is also responsible for safeguarding the
assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and
other irregularities.
Management confirmed that it has complied with the above requirements in preparing the accompanying
separate financial statements for Quarter 12016.
STATEMENT BY MANAGEMENT
Management does hereby state that, in its opinion, the accompanying separate financial statements give a
true and fair view of the separate financial position of the Company as at 31 March 2016, and of the separate
results of its operations and its separate cash flows in accordance with Vietnamese Accounting Standards,
Vietnamese Enterprise Accounting System and the statutory requirements relevant to the preparation and
pr~l?~.r:l.tation
of the separate financial statements.
.........
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Hanoi, Vietnam
04 May 2016
3
B01a-ON
SEPARATE BALANCE SHEET
As at 31 March 2016
Currencv: VND
Code ASSETS
Notes
100 A. CURRENT ASSETS
110
111
112
I. Cash and cash equivalents
1. Cash
2. Cash equivalents
120 II. Short·term Investments
121
122
123
4
5
1. Held-for-tradingsecurities
2. Provision for diminution in value of
held-for-trading securities
3. Held-to-maturityinvestments
130 III. Current accounts receivables
131
132
135
136
137
1.
2.
3.
4.
5.
Short-term trade receivables
Short-term advances to suppliers
Short-term loan receivables
Other short-term receivables
Provision for doubtful debts
140 IV. Inventories
141
6
7
8
9
1. Inventories
150 V. Other current assets
151
152
153
155
1. Short-term prepaid expenses
2. Value-added tax deductible
3. Tax and other receivables from the
State
4. Other current assets
10
11
4
Ending balance
Beginning balance
24,965,416,588,095
24,238,821,543,283
699,019,340,601
1,071,293,410,389
649,019,340,601
50,000,000,000
571,293,410,389
500,000,000,000
1,528,291,448,000
2,142,032,490,611
32,369,112,000
32,369,112,000
(15,077,664,000)
1,511,000,000,000
(14,958,000,000)
2,124,621,378,611
14,621,970,277,545
16,585,572,752,924
513,966,039,998
173,731,754,361
11,222,611,901,893
2,820,728,372,342
(109,067,791,049)
288,691,127,787
132,228,960,187
12,496,760,202,648
3,769,416,074,672
(101,523,612,370)
893,895,227,906
730,548,865,044
893,895,227,906
730,548,865,044
7,222,240,294,043
3,709,374,024,315
41,828,907,279
46,698,974,728
13,394,986,624
35,767,944,963
4,110,702,151
7,129,601,709,885
2,923,154,643
3,657,287,938,085
B01a-DN
SEPARATE BALANCE SHEET (continued)
As at 31 March 2016
Currency' VND
Code ASSETS
Notes
200 B. NON-CURRENT ASSETS
210
215
216
I. Long-term receivables
1. Long-term loan receivables
2. Other long-term receivables
7
220 II. Fixed assets
221
222
223
227
228
229
1. Tangible fixed assets
Cost
Accumulated depreciation
2. Intangible fixed assets
Cost
Accumulated amortisation
230 III. Investment properties
231
232
13
1. Cost
2. Accumulated depreciation
240 IV. Long-term assets in progress
242
12
14
1. Construction in progress
253
1 Investment in subsidiaries
2 Investments in associates, jointly
controlled entities
3 Investment in other entities
254
4 Provision for dimunition in value of
long-term investments
255
5 Held-to-maturityinvestments
1. Long-term prepaid expenses
2. Deferred tax assets
3. Other long-term assets
55,991,602,065,672
54,082,083,973,729
9,568,955,465,111
11,135,844,306,667
9,568,952,825,111
2,640,000
11,135,841,666,667
2,640,000
217,808,663,074
214,091,787,205
196,040,823,686
263,166,988,365
(67,126,164,679)
21,767,839,388
38,654,838,880
(16,886,999,492)
194,042,685,458
253,059,710,604
(59,017,025,146)
20,049,101,747
35,150,011,380
(15,100,909,633)
82,254,873,272
82,735,895,923
87,706,085,875
(5,451,212,603)
87,706,085,875
(4,970,189,952)
3,408,960,714,522
2,805,541,943,578
3,408,960,714,522
2,805,541,943,578
41,158,424,279,041
38,275,539,416,775
36,723,752,608,248
34,479,034,583,248
15.2
1,482,214,318,182
2,919,437,075,345
1,482,214,318,182
2,314,290,515,345
(87,167,222,734)
120,187,500,000
-
1,555,198,070,652
1,568,330,623,581
53,369,465,209
1,828,605,443
1,500,000,000,000
67,515,682,870
814,940,711
1,500,000,000,000
80,957,018,653,767
78,320,905,517,012
15.3
15.4
260 VI. Other long-term assets
261
262
268
Beginning balance
15.1
250 V. Long-term Investments
251
252
Ending balance
10
11
270 TOTAL ASSETS
5
B01a-ON
SEPARATE BALANCE SHEET (continued)
As at 31 March 2016
Currency: VND
Code RESOURCES
Notes
300 C. LIABILITIES
310
311
312
313
314
315
318
319
320
I. Current liabilities
1. Short-term trade payables
2. Short-term advances from customers
3. Statutory obligations
4. Payables to employees
5. Short-term accrued expenses
6. Short-term unearned revenues
7. Other short-term payables
8. Short-term loan and finance lease
16
338
339
400
I. Capital
1. Contributed share capital
Shares with voting rights
2. Share premium
3. Other funds belonging to owners'
equity
4. Undistributed earnings
421
Undistributed earnings accumulated
421a
to prior year-end
Undistributed earnings of this period
421b
410
411
411a
412
420
18
19.1
41,069,956,307,068
16,742,967,511,595
20,129,324,462,839
511,443,107,585
533,334,439,982
4,304,491,083
1,185,537,799,498
22,428,999,123
7,377,474,863,033
7,108,443,811,291
136,288,096,579
28,358,671,263
9,352,323,347
14,600,225,361
764,864,295,381
26,643,140,910
5,047,407,477,029
14,101,810,232,969
23,471,008,779,917
20,940,631,844,229
23,471,008,779,917
18,558,230,083,647
2,382,401,760,582
40,743,042,362,255
37,250,949,209,944
40,743,042,362,255
37,250,949,209,944
19,398,548,510,000
19,398,548,510,000
18,765,136,668,299
18,681,880,870,000
18,681,880,870,000
17,279,282,355,761
26,000,000,000
2,553,357,183,956
26,000,000,000
1,263,785,984,183
1,263,785,984,183
1,289,571,199,773
6,467,923,866
1,257,318,060,317
80,957,018,653,767
78,320,905,517,012
-
20
21
-
TOTAL LIABILITIES AND OWNERS'
EQUITY
~
Ngo Thi Huyen
Preparer
40,213,976,291,512
19.2
-
440
Beginning balance
-
17
330 II. Non-current liabilities
1 Long-term loans and finance lease
obligations
2 Convertible bonds
D. OWNERS' EQUITY
Ending balance
..
NguyenThi Thu Hien
Chief Accountant
04 May 2016
6
B02a-ON
SEPARATEINCOMESTATEMENT
Quarter I - 2016
ITEMS
Code
01
02
10
11
20
21
22
23
25
26
1. Revenue from sale of goods and
rendering of services
2. Deductions
3. Net revenue from sale of goods and
4. Cost of goods sold and services
rendered
5. Gross profit from sale of goods and
6. Finance income
7. Finance expenses
Quarter I 2016
Quarter I 2015
22.1
22.1
271,986,129,060
192,538,116,883
271,986,129,060
192,538,116,883
22.1
271,986,129,060
192,538,116,883
271,986,129,060
192,538,116,883
23
236,477,576,425
138,282,580,306
236,477,576,425
138,282,580,306
35,508,552,635
2,174,290,685,769
54,255,536,577
2,823,418,441,825
872,638,907,665
746,765,474,212
6,264,314,161
41,868,499,901
719,457,631,682
566, 194,520,155
54,255,536,577
2,823,418,441,825
719,457,631,682
566, 194,520,155
16,430,522,603
35,508,552,635
2,174,290,685,769
872,638,907,665
746,765,474,212
6,264,314,161
41,868,499,901
1,289,027,516,677
1,874,780,501
1,529,387,290
345,393,211
2,141,785,824,117
650,699,590
1,289,027,516,677
1,874,780,501
64,474,720
586,224,870
1,529,387,290
345,393,211
2,141,785,824,117
650,699,590
64,474,720
586,224,870
1,289,372,909,888
2,142,372,048,987
1,289,372,909,888
2,142,372,048,987
22.2
24
- In which: Interest expense
9. Selling expenses
10. General and administrative expenses
32
40
11. Operating profit
12. Other income
13. Other expenses
14. Other (loss)/profit
50
15. Profit before tax
51
16. Current corporate income tax expense
26
52
17. Deferred income tax (income)/expense
26
60
18. Net profit after tax
30
31
Ngo Thi Huyen
Preparer
04 May2016
2015
2016
Notes
25
25
16,430,522,603
815,374,847
815,374,847
(1,013,664,732)
1,289,571,199,773
2,142,372,048,987
(1,013,664,732)
1,289,571,199,773
2,142,372,048,987
Duong·ThiMai Hoa
General Director
Nguyen Thi Thu Hien
Chief Accountant
7
B03a-DN
SEPARATE CASH FLOW STATEMENT
for the three-month period ended 31 March 2016
Currency' VND
Code ITEMS
Notes
For the three-month
period ended 31
March 2015
For the three-month
period ended 31
March 2016
I. CASH FLOWS FROM OPERATING
01
02
03
04
05
06
Profit before tax
Adjustments for:
Depreciation and amortisation
Changes in provisions
Foreign exchange losses
Profits from investing activities
Interest expense
14
15
Operating profit before changes in working
capital
Increase in receivables
(Increase)!decrease in inventories
Increase!(decrease) in payables (other than
interest, corporate income tax)
(Increase)! decrease in prepaid expenses
(Increase)!decrease in held-far-trading
securities
Interest paid
Corporate income tax paid
20
Net cash flows used in operating activities
08
09
10
11
12
13
2,142,372,048,987
10,536,709,216
94,831,065,413
219,373,156,250
(1,954,834,552,727)
784,150,182,463
6,466,084,425
(10,246,783,025)
108,314,556,671
(2,803,357,906,115)
626,733,382,632
443,429,470,503
(322,009,096,942)
-
70,281,383,575
(482,428,046,826)
(12,466,188,511)
(406,346,024,509)
(14,287,702,994)
(91,901,193,402)
5,877,485,576
-
II. CASH FLOWS FROM INVESTING
Purchase, construction of fixed assets and
21
other long-term assets
Proceeds from disposals of fixed assets
22
and other long-term assets
Loans to other entities and payments for
23
purchase of debt instruments of other
entities
Collections from borrowers and proceeds
24
from sale of debt instruments of other
entities
Payments for investments in other entities
25
(net of cash acquired)
Proceeds from sale of investments in other
26
entities (net of cash held by entity being
disposed)
Interest and dividends received
27
30
1,289,372,909,888
(434,167,802,846)
(7,120,779,636)
(302,387,726,598)
(740,501,936,424)
(813,024,286,186)
(363,837,696,205)
(567,782,657,902)
247,711,452
Net cash flows used in investing activities
8
(4,371,470,954,632)
(2,999,753,142,062)
5,753,904,884,851
3,535,729,633,310
(6,755,088,356,800)
(3,427,339,986,844)
5,170,984,804,091
2,656,169,175,249
3,013,903,424,661
120,565,912,477
2,090,909,568,005
(324,676,816,360)
B03a-DN
SEPARATE CASH FLOW STATEMENT (continued)
for the three-month period ended 31 March 2016
Currency' VND
Notes
Code ITEMS
33
34
III.CASH FLOWS FROM FINANCING
ACTIVITIES
Drawdown of borrowings
Repayment of borrowings
For the three-month
period ended 31
March 2016
For the three-month
period ended 31
March 2015
10,144,156,949,482
1,388,682,996,381
(11,866,838,650,851)
(1,302,976,857,938)
(1,722,681,701,369)
85,706,138,443
40
Net cash flows from financing activities
50
Net increase/(decrease) in cash and cash
equivalents
(372,274,069,788)
(1,051,994,964,103)
60
Cash and cash equivalents at beginning of
the period
1,071,293,410,389
1,314,658,214,340
61
Impact of exchange rate fluctuation
-
.
70
Cash and cash equivalents at end of the
period
699,019,340,601
262,663,250,237
Ngo Thl Huyen
Preparer
4
Nguyen Thl Thu Hien
Chief Accountant
04 May 2016
9
'~~;"""':'
Duang Thl Mal Hoa
General Director
B09a-DN
NOTES TO THE SEPARATE FINANCIAL STATEMENTS
Quarter I 2016
1.
CORPORATE INFORMATION
Vingroup Joint Stock Company ("the Company") is a joint stock company established in Vietnam
pursuant to the Business Registration Certificate No. 0103001016 issued by the Hanoi Department of
Planning and Investment on 3 May 2002 and the Business Registration Certificate No. 0101245486 reissued on 12 May 2010. The Company also subsequently received the 60th amended Business
Registration Certificates dated 18 March 2016.
The Company's shares were officially listed on the Hochiminh City Stock Exchange ("HOSE") from 19
September 2007 pursuant to Decision No.106/QD-TTGDHCM issued by the Director of HOSE on 7
September 2007.
The current principal activities of the Company are to construct, trade and invest in real estate properties;
to carry out capital mobilization and investment activities; and to provide general administrative services.
The Company's head office is located at No.7, Bang Lang 1 street, Vinhomes Riverside Eco-urban Area,
Viet Hung ward, Long Bien district, Hanoi, Vietnam. Its branch is located at No. 72, Le Thanh Ton street
and No. 45A, Ly Tu Trong street, Ben Nghe ward, district 1, Hochiminh city, Vietnam.
As at 31 March 2016, the Company has 68 subsidiaries. The information on these subsidiaries, along
with the Company's voting rights and equity interest in each subsidiary are detailed in the Appendix 1.
As at 31 March 2016, the Company also holds investments in a number of associates as presented in
Note 15.2.
2.
BASIS OF PREPARATION
2.1
Accounting standards and system
The separate financial statements of the Company expressed in Vietnam dong ("VND"), are prepared in
accordance with the Vietnamese Enterprise Accounting System and Vietnamese Accounting Standard
and other Vietnamese Accounting Standards issued by the Ministry of Finance as per:
~ Decision No. 149/2001/QD-BTC dated 31 December 2001 on the Issuance and Promulgation of Four
Vietnamese Accounting Standards (Series 1);
~ Decision No. 165/2002/QD-BTC dated 31 December 2002 on the Issuance and Promulgation of Six
~ Decision No. 234/2003/QD-BTC dated 30 December 2003 on the Issuance and Promulgation of Six
~ Decision No. 12/2005/QD-BTC dated 15 February 2005 on the Issuance and Promulgation of Six
Vietnamese Accounting Standards (Series 4); and
~ Decision No. 100/2005/QD-BTC dated 28 December 2005 on the Issuance and Promulgation of Four
Vietnamese Accounting Standards (Series 5).
Accordingly, the accompanying separate financial statements, including their utilisation are not designed
for those who are not informed about Vietnam's accounting principles, procedures and practices and
furthermore are not intended to present the financial position and results of operations and cash flows in
accordance with accounting principles and practices generally accepted in countries other than Vietnam.
2.2
Applied accounting documentation system
The Company's applied accounting documentation system is the General Journal system.
10
B09a-DN
NOTES TO THE SEPARATE FINANCIAL STATEMENTS (continued)
Quarter I 2016
2.
BASIS OF PREPARATION (continued)
2.3
Fiscal year
The Company's fiscal year applicable for the preparation of its financial statements starts on 1 January
and ends on 31 December.
2.4
Accounting currency
The separate financial statements are prepared in VND which is also the Company's accounting
3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
3.1
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand, cash in banks and short-term, highly liquid
investments with an original maturity of less than three months that are readily convertible into known
amounts of cash and that are subject to an insignificant risk of change in value.
3.2
Invetories
Inventory property
Property acquired or being constructed for sale in the ordinary course of business, rather than to be held
for rental or capital appreciation, is held as inventory and is measured at the lower of cost and net
realisable value.
Cost includes:
~
Freehold and leasehold rights for land;
~
Amounts paid to contractors for construction;
Borrowing costs, planning and design costs, costs of site preparation, professional fees for legal
services, property transfer taxes, construction overheads and other related costs.
Net realisable value is the estimated selling price in the ordinary course of the business, based on
market prices at the reporting date and less costs to completion and the estimated costs of sale.
The cost of inventory recognised in profit or loss on disposal is determined with reference to the specific
costs incurred on the property sold and an allocation of any non-specific costs based on the relative size
of the inventory property sold.
Other inventories
Inventories are carried at the lower of cost incurred in bringing each product to its present location and
condition and net realisable value.
The perpetual method is used to record the costs of other inventories, in which construction materials are
valued at the cost of purchase, on a first in first out basis.
Provision for obsolete inventories
An inventories provision is created for the estimated loss arising due to the impairment of value (through
diminution, damage, obsolescence, etc.) of raw materials, finished goods, and other inventories owned
by the Company, based on appropriate evidence of impairment available at the balance sheet date.
Increases and decreases to the provision balance are recorded into the cost of goods sold account in the
period.
11
B09a-DN
Quarter I 2016
3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
3.3
Receivables
Receivables are presented in the separate financial statements at the carrying amounts due from
customers and other debtors, after provision for doubtful debts.
The provision for doubtful debts represents amounts of outstanding receivables at the balance sheet
date which are doubtful of being recovered. Increases and decreases to the provision balance are
recorded as general and administrative expense in the separate income statement.
3.4
Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation.
The cost of a tangible fixed asset comprises its purchase price and any directly attributable costs of
bringing the tangible fixed asset to working condition for its intended use. Expenditures for additions,
improvements and renewals are added to the carrying amount of the assets and expenditures for
maintenance and repairs are charged to the separate income statement as incurred.
When tangible fixed assets are sold or retired, their costs and accumulated depreciation are removed
from the balance sheet and any gain or loss resulting from their disposal is included in the separate
income statement.
3.5
Intangible assets
Intangible assets are stated at cost less accumulated amortisation.
The cost of an intangible asset comprises its purchase price and any directly attributable costs of
preparing the intangible fixed asset for its intended use. Expenditures for additions, improvements are
added to the carrying amount of the assets and other expenditures are charged to the separate income
statement as incurred.
When intangible assets are sold or retired, their costs and accumulated amortisation are removed from
the separate balance sheet and any gain or loss resulting from their disposal is included in the separate
income statement.
3.6
Depreciation and amortisation
Depreciation and amortisation of tangible fixed assets and intangible assets are calculated on a straightline basis over the estimated useful life of each asset as follows:
38 years
3 -10 years
3 - 10 years
3 - 5 years
3 - 8 years
Buildings and structures
Machineries and equipment
Means of transportation
Office equipment
Computer software
3.7
Investment properties
Investment properties are stated at cost including transaction costs less accumulated depreciation.
Subsequent expenditure relating to an investment property that has already been recognized is added to
the net book value of the investment property when it is probable that future economic benefits, in excess
of the originally assessed standard of performance of the existing investment property, will flow to the
Company.
12
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3
3.7
Investment properties (continued)
Depreciation and amortisation of investment properties are calculated on a straight-line basis over the
estimated useful life of each asset as follows:
Buildings
30 - 50 years
Amortisation of land use rights with definite terms presented as a part of investment properties is
calculated on a straight-line basis over the definite term.
Investment properties are derecognised when either they have been disposed of or when the investment
properties are permanently withdrawn from use and no future economic benefit is expected from its
disposal. The difference between the net disposal proceeds and the carrying amount of the assets is
recognised in the income statement in the period of retirement or 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 another party or ending of
construction or development. Transfers are made from investment properties when, and only when,
there is change in use, evidenced by commencement of owner-occupation or commencement of
development with a view to sale. The transfer from investment property to owner-occupied property or
inventories does not change the cost or the carrying value of the property for subsequent accounting at
the date of change in use.
3.8
Borrowing costs
Borrowing costs consist of interest and other costs that an entity incurs in connection with the borrowing
of funds. Borrowing costs are recorded as expense during the year in which they are incurred, except to
the extent that they are capitalized as explained in the following paragraph.
Borrowing costs that are directly attributable to the acquisition, construction or production of an asset that
necessarily take a substantial period of time to get ready for its intended use or sale are capitalized as
part of the cost of the respective asset.
3.9
Prepaid expenses
Prepaid expenses are reported as short-term or long-term prepaid expenses on the balance sheet and
allocated over the period for which the amount are paid or the period in which economic benefits are
generated in relation to these expenses.
Long-term prepaid expenses include long-term prepaid land rental and other long-term expenses that
bring future economic benefits for more than one year period.
3.10 Investments
Investments in subsidiaries
Investments in subsidiaries over which the Company has control are accounted for under the cost
method of accounting in the separate balance sheet.
Distributions from accumulated net profits of the subsidiaries arising subsequent to the date of
acquisition are recognised in the separate income statement. Distributions from sources other than from
such profits are considered a recovery of investment and are deducted to the cost of the investment.
Investments in associates
Investments in associate over which the Company has significant influence are accounted for under the
cost method of accounting in the separate balance sheet. Distributions from the accumulated net profits
of the associates arising subsequent to the date of acquisition by the Company are recognized as
income in the separate income statement. Distributions from sources other than from such profits are
considered a recovery of investment and are deducted to the cost of the investment.
13
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Quarter I 2016
3
3.10 Investments (continued)
Held-for-trading securities and investments in other entities
Held-for-trading securities and investments in other entities are stated at their acquisition costs.
Provision for investments
Provision is made for any diminution in value of the held-for-trading securities and investments in capital
of other entities at the balance sheet date in accordance with the guidance under Circular No.
228/2009fTT-BTC dated 7 December 2009 and Circular No. 89/2013fTT-BTC dated 26 June 2013
issued by the Ministry of Finance. Increase and decrease to the provision balance are recorded as
finance expense in the separate income statement.
Held-to-maturity investments
Held-to-maturity investments are stated at their acquisition costs. After initial recognition, held-to-maturity
investments are measured at recoverable amount. Any impairment loss incurred is recognised as
expense in the separate financial statements and deducted against the value of such investments.
3.11 Payables and accruals
Payables and accruals are recognised for amounts to be paid in the future for goods and services
received, whether or not billed to the Company. Payables to contractors are recorded based on interim
work certificates between two parties, regardless of whether or not billed to the Company.
3.12 Accrual for severance pay
The severance pay to employee is accrued at the end of each reporting year for all employees who have
more than 12 months in service up to the reporting date at the rate of one-half of the average monthly
salary for each year of service up to the 31 December 2008 in accordance with the Labour Code, the
Law on Social Insurance and related implementing guidance. The average monthly salary used in this
calculation will be revised at the end of each reporting year following the average monthly salary of the 6month period up to the reporting date. Any changes to the accrued amount will be taken to the separate
income statement.
This accrued severance pay is used to settle the termination allowance to be paid to employee upon
termination of their labour contract following Article 48 of the Labour Code.
3.13 Provisions
Provisions are recognised when the Company has a present obligation (legal or constructive) as a result
of a past event, it is probable that an outflow of resources embodying economic benefits will be required
to settle the obligation and a reliable estimate can be made of the amount of the obligation.
When the Company expects some or all of a provision to be reimbursed, for example under an insurance
contract, the reimbursement is recognised as a separate asset but only when the reimbursement is
virtually certain. The expense relating to any provision is presented in the separate income statement net
of any reimbursement.
If the effect of the time value of money is material, provisions are discounted using a current pre tax rate
that reflects, where appropriate, the risks specific to the liability. Where discounting is used, the increase
in the provision due to the passage of time is recognised as a finance cost.
14
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Quarter I 2016
3
3.14 Foreign currency transactions
Transactions in currencies other than the Company's reporting currency of VND are recorded at the
actual transaction exchange rates at transaction dates which are determined as follows:
- Transactions resulting in liabilities are recorded at the selling exchange rates of the transaction of
commercial banks designated for payment;
- Payments for assets or expenses without liabilities initially being recognised is recorded at the buying
exchange rates of the commercial banks that process these payments.
At the end of the period, monetary balances denominated in foreign currencies are translated at the
actual transaction exchange rates at the balance sheet dates which are determined as follows:
- Monetary assets are translated at buying exchange rate of the commercial bank where the Company
conduct transactions regularly;
- Monetary liabilities are translated at selling exchange rate of the commercial bank where the Company
conduct transactions regularly.
All realised and unrealised foreign exchange differences are taken to the separate income statement.
3.15 Convertible bond
Bonds that are convertible by the holder into a fixed number of ordinary shares of the Company are
separated into financial liability (a contractual arrangement to deliver cash or another financial assets)
and equity instrument (a call option granting the holder the right, for a specified period of time) based on
the terms of the contract. In cases where the number of ordinary shares to be converted is not fixed, the
entire convertible bonds are classified as a financial liability.
3.16 Bond issuance costs
Bond issuance costs are amortised on a straight-line basis during the term of the bond and recognized
as either finance expenses or being capitalized. At initial recognition, bond issuance costs are deducted
from the par value of the bond. Periodically, the bond issuance costs are amortized by increasing the par
value of the bond and such amortizations are recognized as either finance expense or being capitalized
in correspondence with the recognition of interest expenses.
3.17 Treasury shares
Own equity instruments which are reacquired (treasury shares) are recognised at cost and deducted
from equity. No gain or loss is recognised in profit or loss upon purchase, sale, issue or cancellation of
the Company's own equity instruments.
3.18 Appropriation of net profits
Net profit after tax (excluding unrealised exchange gains as at the balance sheet date) is available for
appropriation to shareholders after approval in the annual general meeting, and after making
appropriation to reserve funds in accordance with the Company's Charter and the Vietnamese regulatory
The Company maintains the financial reserve fund which is appropriated from the Company's net profit
as proposed by the Board of Directors and subject to approval by shareholders at the annual general
meeting.
15
BOga-DN
Quarter 12016
3
3.19 Revenue recognition
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the
Company and the revenue can be reliably measured regardless of when payment is being made.
Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, and
sales taxes or duty. The following specific recognition criteria must also be met before revenue is
recoqnised:
Revenue from sale of inventory property
Revenue from sale of inventory property is recognized when the significant risks and rewards of
ownership of the properties have passed to the buyer.
Revenue from leasing of investment properties
Rental income arising from leased investment properties is accounted for on a straight line basis over the
lease term of ongoing leases.
Rendering of services
Revenue is recognized when services are rendered to the customers.
Gains from securities trading, capital transfer
Gains from securities trading and capital transfer are determined as the excess of selling prices against
the cost of securities sold. Such gain is recognized on the trade date when the relevant contracts are
executed.
Interest
Revenue is recognized as the interest accrues (taking into account the effective yield on the asset)
unless collectability is in doubt.
Dividends
Income is recognized when the Company's entitlement as an investor to receive the dividend is
established.
3.20 Taxation
Current income tax
Current income tax assets and liabilities for the current and prior years are measured at the amount
expected to be paid to (or recovered from) the taxation authorities. The tax rates and tax laws used to
compute the amount are those that are enacted as at the separate balance sheet date.
Current income tax is charged or credited to the income statement, except when it relates to items
recognised directly to equity, in which case the current income tax is also dealt with in equity.
Current income tax assets and liabilities are offset when there is a legally enforceable right for the
Company to set off current tax assets against current tax liabilities and when the Company intends to
settle its current tax assets and liabilities on a net basis.
Deferred income tax
Deferred tax is provided using the liability method on temporary differences at the balance sheet date
between the tax base of assets and liabilities and their carrying amount for financial reporting 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 in a
transaction which at the time of the related transaction affects neither the accounting profit nor
taxable profit or loss;
16
B09a-DN
Quarter 12016
3
3.20 Taxation (continued)
Deferred income tax (continued)
~
in respect of taxable temporarily differences associated with investments in subsidiaries and
associates, and interests in joint ventures where timing of the reversal of the temporary
difference can be controlled and it is probable that the temporary difference will not reverse in
the foreseeable future
Deferred tax assets are recognised for all deductible temporary differences, carried forward unused tax
credit and unused tax losses, to the extent that it is probable that taxable profit will be available against
which deductible temporary differences, carried forward unused tax credit and unused tax losses can be
utilised, except:
~
where the deferred tax asset in respect of deductible temporary difference which arises from the
initial recognition of an asset or liability which at the time of the related transaction, affects
neither the accounting profit nor taxable profit or loss;
~
in respect of deductible temporarily differences associated with investments in subsidiaries,
associates, and interests in joint ventures, deferred tax assets are recognised only to the extent
that it is probable that the temporary differences will reverse in the foreseeable future and
taxable profit will be available against which the temporary differences can be utilised.
The carrying amount of deferred income tax assets is reviewed at each balance sheet date and reduced
to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of
the deferred income tax asset to be utilised. Previously unrecognised deferred income tax assets are re
assessed at each balance sheet date and are recognised to the extent that it has become probable that
future taxable profit will allow the deferred tax assets to be recovered.
Deferred income tax assets and liabilities are measured at the tax rates that are expected to apply in the
period when the asset realised or the liability is settled based on tax rates and tax laws that have been
enacted at the balance sheet date.
Deferred tax is charged or credited to the income statement, except when it relates to items recognised
directly to equity, in which case the deferred tax is also dealt with in the equity account
Deferred tax assets and liabilities are offset when there is a legally enforceable right for the Company to
off-set current tax assets against current tax liabilities and when they relate to income taxes levied by the
same taxation authority on:
~
either the same taxable entity; or
~
when the Company intends either settle current tax liabilities and assets on a net basis or to
realise the assets and settle the liabilities simultaneously, in each future period in which
significant amounts of deferred tax liabilities or assets are expected to be settled or recovered.
4.
CASH AND CASH EQUIVALENTS
Ending balance
Cu"ency: VND
Beginning balance
Cash on hand
114,797,121
157,631,730
Cash in banks
648,904,543,480
571,135,778,659
Cash equivalents
TOTAL
50,000,000,000
699,019,340,601
500,000,000,000
1,071,293,410,389
Cash equivalents include bank deposits in VND with terms ranging from 1 month and earn interest at
rates 4.5% per annum (31 December 2015: 4.3% per annum).
17
809a-DN
Quarter I 2016
5.
SHORT-TERM INVESTMENTS
5.1 Securities held for trading
Currency: VND
Beginning balance
Ending balance
Cost
Listed shares - DPM (i)
TOTAL
Cost
Provision
Fair value
32.369.112.000
17.291,448.000
(15.077.664.000)
32.369.112.000
32,369,112,000
17,291,448,000
(15,077 ,664,000)
32,369,112,000
==================
Fair value
17,411.112.000
Provision
(14.958.000.000)
(14,958,000,000)
==1=7=,4::::::1::::::1;.;,,1::::::1;,;2=,0::::0::::::0
(i) Shares of Petrovietnam Fertilizer and Chemicals Corporation;
5.2 Held-to-maturity investments
Ending balance
Short-term bank deposits and certificate of deposit (i)
Cost
Carrying value
Cost
Carrying value
123.000.000.000
123.000.000.000
239.000.000.000
239.000.000.000
497.621.378.611
497.621.378.611
Current portion of long-term bank deposits
Certificate of deposits (i)
Currency: VND
Beginning balance
1.388.000.000.000
1.388.000.000.000
1.388.000.000.000
1.388.000.000.000
1,511,000,000,000
1,511,000,000,000
2,124,621,378,611
2,124,621,378,611
TOTAL
(i) Short-term deposits and certificate of deposit as at 31 March 2016 have terms ranging from 6 months to 1 year and earn interest at rates ranging from 5.2% to
9.2% per annum.
18
S09a-DN
Quarter I 2016
6. TRADE RECEIVABLES
Currency: VND
Ending balance
Receivables from transfer of inventory properties
Receivables from leasing investment properties
and rendering of related services
Receivables from rendering management &
royalty services to the subsidiaries
TOTAL
Beginning balance
5,327,895,645
4,758,036,054
10,210,619,016
16,117,468,318
498,427,525,337
267,815,623,415
513,966,039,998
288,691,127,787
Currency: VND
7. LOAN RECEIVABLES
Ending balance
Beginning balance
Short-term
Current portion of loans to customers
Loans to other companies
Loan to related parties
TOTAL
Long-term
Loans to a corporate counterparty
Loans to related parties
TOTAL
987,111,564,022
987,111,564,022
83,077,886,534
10,152,422,451,337
83,077,886,534
11,426,570,752,092
11,222,611,901,893
12,496,760,202,648
55,000,000,000
55,000,000,000
9,513,952,825,111
11,080,841,666,667
9,568,952,825,111
11,135,841,666,667
8. OTHER SHORT TERM RECEIVABLES
Ending balance
Receivables from disposal of investments
Interest receivables
Receivables from dividend and share of profit from
subsidiaries
Deposit for a business co-operation contract
Others
TOTAL
19
Currency: VND
Beginning balance
1,284,335,436,774
93,448,998,244
1,415,355,192,675
257,156,250,000
1,050,000,000,000
229,236,685,568
939,964,899,900
1,050,000,000,000
270,646,983,853
2,820,728,372,342
3,769,416,074,672
B09a-DN
Quarter I 2016
9. INVENTORIES
Ending balance
Inventory properties under construction
TOTAL
Provision for obsolete inventories
Net value of inventories
Currency: VND
Beginning balance
893,895,227,906
893,895,227,906
730,548,865,044
730,548,865,044
893,895,227,906
730,548,865,044
10. PREPAID EXPENSES
Currency: VND
Ending balance
Beginning balance
Short-term
Prepaid expenses for soft-ware copyright
1,831,495,940
CIT 1% temporary witheld from downpayments
5,117,857,281
Selling expenses related to apartments not yet
handled over
Other short-term prepaid expenses
15,869,886,769
19,009,667,289
3,920,546,757
2,148,456,107
41,828,907,279
13,394,986,624
Goodwill
25,846,351,516
34,461,802,024
Prepaid office management fee
22,418,285,952
26,621,714,568
Other long-term prepaid expenses
5,104,827,741
53,369,465,209
6,432,166,278
TOTAL
7,325,983,760
Long-term
TOTAL
67,515,682,870
11. OTHER CURRENT AND NON-CURRENT ASSETS
These are deposits for investment purpose in potential projects or for acquiring shares in other
entities. Balances of other current and non-current assets as at 31 March 2016 are as follows:
Currency: VND
Ending balance
Beginning balance
Short-term
Deposits for investment purpose
TOTAL
7,129,601,709,885
7,129,601,709,885
3,657,287,938,085
1,500,000,000,000
1,500,000,000,000
1,500,000,000,000
1,500,000,000,000
3,657,287,938,085
Long-term
Deposits for investment purpose
TOTAL
20
B09a-DN
Quarter I 2016
Currency: VND
12. TANGIBLE FIXED ASSETS
Cost:
Beginning balance
Additions
In which:
New purchase
Decreases
In which:
Disposal
Ending balance
Accumulated depreciation:
Beginning balance
Addition
In which:
Depreciation for the period
Decreases
In which:
Disposal
Ending balance
Net carrying amount:
Beginning balance
Ending balance
Bui/dings &
construction
Machinery &
equipment
Means of
transportation
Office equipment
Others
Total
45,939,641,000
538,765,574
117,572,344,476
87,702,991,373
1,305,968,181
10,001,152,727
315,144,960
253,059,710,604
10,316,297,687
10,001,152,727
315,144,960
(209,019,926)
10,316,297,687
(209,019,926)
1,305,968,181
(209,019,9262
263,166,988,365
45,939,641,000
538,765,574
127,573,497,203
(209,019,9262
87,809,116,407
1,318,211,336
302,860,383
470,252,447
340,136,910
27,659,492,911
4,152,079,585
29,194,145,049
3,449,054,704
374,923,403
25,465,124
59,017,025,146
8,269,596,706
302,860,383
340,136,910
4,152,079,585
3,449,054,704
(160,457,173)
25,465,124
8,269,596,706
(160,457,173)
1,621,071,719
810,389,357
31,811,572,496
(160,457,1732
32,482,742,580
44162114291664
44131815691281
6815131127
(27116231783}
89191218511565
95176119241707
58150818461324
55132613731827
21
400,388,527
(160,457,1732
67,126,164,679
93110441778
90515791654
194104216851458
196104018231686
B09a-ON
Quarter I 2016
13. INVESTMENT PROPERTIES
Currency: VND
Building and structures
Cost:
Beginning balance
Additions
87,706,085,875
Ending balance
87,706,085,875
Accumulated depreciation:
4,970,189,952
Beginning balance
481,022,651
Amortisation during the period
5,451,212,603
Ending balance
Net carrying amount:
Beginning balance
82,735,895,923
Ending balance
82,254,873,272
14. CONSTRUCTION IN PROGRESS
Ending balance
Currency: VND
Beginning balance
1,182,610,844,453
1,135,894,144,276
Vincom Can Tho 1 project
797,925,514,855
631,867,706,667
Vincom Thanh Hoa project
16,862,925,190
12,942,906,625
Vincom Hue project
84,003,297,597
71,638,460,640
477,647,706,783
411,639,602,203
Vincom Thai Binh project
91,474,479,013
61,882,078,218
Vincom Ha Tinh project
74,927,243,964
50,625,915,469
Ha Long project
116,223,939,801
34,016,862,606
Vinhomes Riverside Hai Phong project
468,382,266,887
309,249,657,518
48,370,075,522
46,548,869,440
50,532,420,457
3,408,960,714,522
39,235,739,916
2,805,541,943,578
Vinhomes Riverside 2 project
Vu Yen Island project
Vincom Yen Bai project
Others
TOTAL
22
S09a-ON
Quarter 12016
15. LONG-TERM INVESTMENTS
Currency: VND
Beginning balance
Ending balance
Cost
Fairva/ue
34,479,034,583,248
34,479,034,583,248
1,482,214,318,182
1,482,214,318,182
1,482,214,318,182
1,482,214,318,182
2,919,437,075,345
2,832,269,852,611
2,314,290,515,345
2,314,290,515,345
120,187,500,000
120,187,500,000
36,723,752,608,248
-Investment in associates
- Others long term investments
TOTAL
Cost
36,723,752,608,248
- Investment in subsidiaries
- Held-to-maturityinvestments
Provision
Fair value
41,245,591,501,775
87,167,222,734
87,167,222,734
41,158,424,279,041
23
38,275,539,416,775
38,275,539,416,775
Provision
B09a-DN
Quarter I 2016
15. LONG-TERM INVESTMENTS (continued)
15.1 Investments in subsidiaries
Ending balance
Vincom 1 Construction Management LLC
Vinhomes Real Estate Management Limited
Hanoi Southern City Development Joint Stock
Saidong Urban Development & Investment Joint
Royal City Real Estate Development & Investment
Xavinco Land Joint Stock Company
Ha Thanh Real Estate Investment And Urban
Tan Lien Phat Construction Investment Corporation
Tay Tang Long Real Estate Company Limited
Vinhomes 1 Real Estate Trading Limited Liability
Vinhomes 2 Real Estate Trading Limited Liability
Times Trading Investment and Development
VME Marketing Limited Liability Company
Vinpearlland Limited Liability Company
Vineco Agricultural Investment Development and
Vinschool One Member Company Limited
VinAcademy Education and Training Limited
Vincom Security Service Limited Liability Company
BFF Commercial Trading Investment Limited
VinPro Trading and Services Limited Liability
Vinlandscape JSC
Vinlinks JSC
VinEcom Limited Liability Company
SuperHigh-speed logistics services JSC
Vincom Retail Joint Stock Company
Southern Star Urban development and Trading
30
Investment JSC
31 Hoa Mai Trading Commercial Services LLC
32 Me Tri Sport and Entertainment Development JSC
33 Vietnam Exhibition Fair Center Joint Stock Company
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
34 Vinaconex-Viettel Urban Development JSC
35 Hoa Hong Yang Agriculture and Food JSC
36 Hoang Lan Production - Trading - Service JSC
37 Vincommerce General Commerce Services JSC
24
Currency: VND
Beginning balance
2,974,398,834,032
220,000,000,000
31,000,000,000
5,290,741,538,618
2,212,943,935,291
3,929,484,785,749
2,071,029,000,000
100,000,000
4,948,890,138,887
635,000,000
156,100,000,000
33,810,000,000
300,000,000,000
5,640,000,000
2,100,000,000
17,000,000,000
1,561,000,000,000
1,100,000,000
3,605,384,894,672
493,600,000,000
100,000,000,000
28,500,000,000
2,000,000,000
198,000,000,000
940,000,000,000
1,789,720,899
347,116,186,600
577,500,000,000
148,050,000,000
2,974,398,834,032
754,190,080,000
724,190,080,000
220,000,000,000
5,792,493,038,618
2,212,943,935,291
3,929,484,785,749
2,071,029,000,000
100,000,000
4,948,890,138,887
635,000,000
217,910,000,000
300,000,000,000
5,640,000,000
2,100,000,000
17,000,000,000
1,561,000,000,000
4,415,561,419,672
1,400,000,000,000
100,000,000,000
28,500,000,000
2,000,000,000
198,000,000,000
1,789,720,899
347,116,186,600
170,770,000,000
170,770,000,000
1,810,830,790,050
1,810,830,790,050
1,395,329,678,450
180,000,000,000
210,000,000
1,395,329,678,450
180,000,000,000
280,000,000
1,665,550,000,000
36,723,752,608,248
34,479,034,583,248
B09a-DN
Quarter 12016
15.
LONG-TERM INVESTMENTS (continued)
15.2
Investmentin associates
Currency: VND
Foreign Trade Concrete Joint Stock Company
Green City Development Joint Stock Company ("Green City JSC")
Ending balance
Beginning balance
15,300,000,000
15,300,000,000
663,181,818,182
663,181,818,182
Thang Long Real Estate Trading Investment JSC ("Thang Long JSC
Vien Dong Pearl Investment and Urban Development Liabilities Limited Company ("Vien Dong
Pearl LLC")
167,500,000,000
167,500,000,000
519,232,500,000
519,232,500,000
M.Y.M Fashion JSC
117,000,000,000
117,000,000,000
n)
1,482,214,318,182
1,482,214,318,182
Total
The information on these associates, along with the Company's voting rights and equity interest in each associate are as follows:
No
1
2
3
4
5
Name
Foreign Trade Concrete JSC
("Foreign Trade JSC")
Green City Development JSC
("Green City JSC")
Thang Long Real Estate
Trading Investment JSC
("Thang Long JSC")
Vien Dong Pearl Urban
Development Investment
LLC ("Vien Dong Pearl LLC")
M.Y.M Joint Stock Company
"M.Y.M JSC"
Voting rights (%)
Equity interest (%) Head office
1st floor, 35-37 Chuong Duong port, Nguyen
Thai Binh ward, District 1, Hochiminh city
No. 72 Le Thanh Ton, Ben Nghe ward, district 1,
Hochiminh city
No. 191 Ba Trieu street, Le Dai Hanh ward, Hai
Ba Trung district, Hanoi
Principal activities
....Producing and wholesaling
concrete productsg
....Investing, developing and
trading real estate properties
....Investing, developing and
30.00
30.00
49.10
46.65
35.00
35.00
45.00
45.00
No. 72 Le Thanh Ton, Ben Nghe ward, district 1, ....Investing, developing and
Hochiminh city
39.00
39.00
No.7 Bang Lang 1, Vinhomes Riverside Ecourban Area, Viet Hung, Long Bien, Ha Noi
25
....Manufacturing clothes
S09a-ON
Quarter I 2016
15.
LONG-TERM INVESTMENTS (continued)
15.3 Other long-term investments
Ending balance
Thanh Nien Media JSC
Textile and Garment Group
Ho Chi Minh Trading Investment JSC
Currency: VND
Beginning balance
12,400,000,000
12,400,000,000
552,395,000,000
552,395,000,000
2,129,642,075,345
1,749,495,515,345
225,000,000,000
Vinhomes Real Estate Management LLC
2,919,437,075,345
TOTAL
2,314,290,515,345
15.4 Held-to-maturity investments
Currency: VND
Ending balance
16.
Long-term deposits (*)
120,187,500,000
TOTAL
(*) Cost of long-term deposits equal to their fair value
120,187,500,000
STATUTORY OBLIGATIONS
Ending balance
Currency: VND
Beginning balance
209,777,453
Value added tax payable
3,801,272,509
Personal income tax
Others
TOTAL
17.
Beginning balance
9,072,164,065
293,441,121
280,159,282
4,304,491,083
9,352,323,347
Ending balance
Currency: VND
Beginning balance
ACCRUED EXPENSES
1,143,085,561,024
721,923,032,743
Accrued cost for sold properties
17,060,421,530
17,060,421,530
Accrued construction costs
21,113,931,895
21,113,931,895
Accrued severance allowance
1,494,457,470
1,494,457,470
Other accrued expenses
2,783,427,579
3,272,451,743
1,185,537,799,498
764,864,295,381
Accrued interest expenses
TOTAL
26
B09a-DN
Quarter I 2016
18.
OTHER PAYABLES
Centralised cash management in master
account payable to subsidiaries
Deposit for acquiring investments of the
Company
Redemption of advance under the
General Construction Contract
Deposit by a subsidiary under coperation
contract for development for real estate
project
Currency: VND
Beginning balance
925,033,024,537
1,293,743,363,509
5,295,000,000,000
2,028,000,000,000
412,000,000,000
Social insurance payables
Deposits by customer
Other short-term payables
TOTAL
19.
Ending balance
810,514,542,712
810,514,542,712
5,567,353,348
4,813,179,362
195,418,007,070
384,898,778,987
145,941,935,366
113,437,612,459
7,377,474,863,033
5,047,407,477,029
LOANS AND BORROWINGS
19.1 Short-term loans
Ending balance
Currency: VND
Beginning balance
Short-term loans
7,108,443,811,291
14,101,810,232,969
TOTAL
7,108,443,811,291
14,101,810,232,969
19.2 Long-term loans
Ending balance
Domestic bonds (i)
International bonds (ii)
Loans from related parties
TOTAL
Currency: VND
Beginning balance
16,641,933,332,632
4,312,986,463,982
11,711,832,812,685
4,343,145,914,555
2,516,088,983,303
2,503,251,356,407
23,471,008,779,917
18,558,230,083,647
(i) Domestic corporate bonds issued
As at 31 March 2016, the Company has the following domestic bonds:
... The first bond has a book value of VND 4,000 billion consisting of 400,000 bonds, issued on 11
February 2014 with a maturity term of 5 years. Interest rate applied in the first and second interestbearing periods is 11% per annum and in subsequent periods, interest rate is determined by the average
paid-in-arrears 6-month saving interest in VND announced by 4 reference banks including Agribank,
Vietinbank, BIDV and Vietcombank (+) 4% per annum.
27
B09a-DN
Quarter 12016
19.
LOANS AND BORROWINGS (continued)
19.2 Long-term loans (continued)
(i) Domestic corporate bonds issued (continued)
....The second bond has a book value of VND 3,000 billion consisting of 30,000,000 bonds, issued on 8
September 2014 with a maturity term of 5 years. Interest rate applied in the first and second interestbearing periods is 11% per annum and in subsequent periods, interest rate is determined by the average
paid-in-arrears 6-month saving interest in VND announced by 4 reference banks including Agribank,
Vietinbank, BIDV and Vietcombank (+) 4% per annum.
....The third bond has a book value of VND 800 billion consisting of 8,000,000 bonds, issued on 18 June
2015 with a maturity term of 4 years. Interest rate applied in the first interest-bearing periods (from
issuance date but not including 16 September 2015) is 11% per annum and in subsequent periods,
interest rate is determined by the average paid-in-arrears 6-month saving interest in VND announced by
4 reference banks including Agribank, Vietinbank, BIDV and Vietcombank (+) 4% per annum.
....The fourth bond has a book value of VND 2,000 billion consisting of 20,000,000 bonds, issued on 02
June 2015 with a maturity term of 2 years. Interest rate applied in the first interest-bearing periods is
11% per annum and in subsequent periods, interest rate is determined by the average paid-in-arrears 6month saving interest in VND announced by 4 reference banks including Agribank, Vietinbank, BIDV
and Vietcombank (+) 5% per annum.
....The fifth bond has a value of VND 4,000 billion consisting of 40,000,000 bonds, issued from 05 Nov
2015 with a maturity term from 2 to 3 years.lnterest rate applied in the first and second interest-bearing
periods is from 10.5% to 11% per annum and in subsequent periods, interest rate is determined by the
average paid-in-arrears 6-month saving interest in VND announced by 4 reference banks including
Agribank, Vietinbank, BIDVand Vietcombank (+) 5% per annum.
.... The sixth bond has a book value of VND 1,950 billion consisting of 1.950 bonds, issued on 19
February 2016 with a maturity term of 5 years. Interest rate applied in the first interest-bearing periods is
7.75% per annum. This bond is unsecured.
....The seventh bond has a book value of VND 1,050 billion consisting of 1.050 bonds, issued from 18
February to 07 March 2016 with a maturity term of 10 years. Interest rate applied in the first interestbearing periods is 8.5% per annum. This bond is unsecured.
(ii) International corporate bonds
.... International bonds with face value of US$200 million were issued in November 2013 for a maturity
term of 4.5 years. These bonds are unsecured, bearing fixed interest rate of 11.625% per annum and
interest is paid twice a year.
20.
CONVERTIBLE BOND
Convertible bonds with the face value of US$300 million are issued in April and July 2012 with a term of
5 years. This type of bonds is unsecured, bearing fixed interest rate of 5% per annum. Under the terms
of these convertible bonds, the bondholders have the right to convert the bonds into ordinary shares of
the Company the rates subject to annual adjustment annually on 3 October, from 3 October 2012 to 3
October 2016. From 22 January 2016 to 25 February 2016, bond holders have converted all of these
remaining bonds balance into ordinary shares of the Company.
28
S09a-ON
Quarter I 2016
21. OWNERS' EQUITY
Currency: VND
Increase and decrease in owners' equity
Contributed charier
capital
Opening balance
18,681,880,870,000
Treasury shares
Share premium
Other funds
belonging to
Owner's Equity
26,000,000,000
17,279,282,355,761
Net profit for the period
Increase from conversion of
convertible bonds
Closing balance
716,667,640,000
1,485,854,312,538
19,398,548,510,000
18,765,136,668,299
Undistributed earnings
Total
1,263,785,984,183
37,250,949,209,944
1,289,571,199,773
1,289,571,199,773
2,202,521,952,538
26,000,000,000
29
2,553,357,183,956
40,743,042,362,255
S09a-ON
Quarter I 2016
(continued)
22. REVENUES
22.1 Revenue from sale of goods and rendering of services
Gross revenue
In which:
Revenue from sale of inventory properties
Revenue from leasing activities and rendering related
services
Revenue from rendering management & royalty
service to subsidiaries
Quarter I 2016
Currency: VND
Quarter I 2015
271,986,129,060
192,538,116,883
3, 167,090,909
11,970,453,308
34,174,222,631
260,015,675,752
155, 196,803,343
271,986,129,060
192,538,116,883
Revenue deduction
Net revenue
In which:
Revenue from sale of inventory properties
Revenue from leasing activities and rendering
related services
Revenue from rendering management & royalty
service to subsidiaries
3, 167,090,909
11,970,453,308
260,015,675,752
34,174,222,631
155,196,803,343
23.2 Finance income
Quarter I 2016
Currency: VND
Quarter I 2015
Interest income
662,677,840,879
668,309,066,825
Foreign exchange gain
219,373,156,250
Other financial income
1,292,239,688,640
2,174,290,685,769
TOTAL
23.
2,155,109,375,000
2,823,418,441,825
COST OF GOODS SOLD AND SERVICES RENDERED
Quarter I 2016
Currency: VND
Quarter I 2015
3,167,090,909
Cost of inventory properties sold
Cost relating to the leasing activities and rendering
related services
Cost of rendering management & royalty service to
subsidiaries
8,911,214,358
29,145,882,354
227,566,362,067
105,969,607,043
236,477,576,425
TOTAL
30
138,282,580,306
B09a-DN
Quarter 12016
24.
FINANCE EXPENSES
Loan interest
Quarter I 2016
Currency: VND
Quarter I 2015
746,765,474,212
566,194,520,155
108,314,556,671
Foreign exchange losses
Allocation of bond issuance fees
36,534,746,909
60,538,862,477
Provision for diminution in value of investment
87,286,886,734
(16,438,248,600)
Loss on disposal/sale of investments
82,976,792
1,968,823,018
872,638,907,665
847,940,979
719,457,631,682
Quarter I 2016
Currency: VND
Quarter I 2015
Other income
Income form disposal of fixed assets
1,874,780,501
650,699,590
Other income
1,097,367,290
650,699,590
Other expenses
Cost of disposal of fixed assets
1,529,387,290
64,474,720
Other financial expenses
TOTAL
25.
OTHER INCOME AND OTHER EXPENSES
777,413,211
777,413,211
Other expenses
NET
26.
751,974,079
345,393,211
64,474,720
586,224,870
Quarter I 2016
Currency: VND
Quarter I 2015
CORPORATE INCOME TAX
Current corporate income tax expense
815,374,847
Deferred tax (income)/expense
{1,013,664,732}
(198,289,885)
TOTAL
31
809a-ON
Quarter 12016
27. TRANSACTIONS WITH RELATED PARTIES.
27.1. Significant transactions with related parties
Currency: VND
....Purchase of assets and rendering management services:
Related parties
Vincom Retail JSC
Vinpearl JSC
Vinpearl Phu Quoc LLC
Vincommerce JSC
Times Trading LLC
Tan Lien Phat JSC
Hanoi Southern JSC
Royal City JSC
Vinhomes 1 LLC
VinpearJManagement LLC
Vincom 3 Construction LLC
Relationship
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Payables for
purchase of assets and
services rendered
Payment for purchase of
assets and services
rendered
Revenue from rendering
management services,
royalty and utilities
(42,940,972)
31,991,040
38,801,290,576
(10,352,221,162)
(18,241,301,977)
6,384,880,827
2,992,322,797
(2,536,417,672)
(2,876,100,000)
(90,729,184,433)
(261,874,360,357)
1,151,708,121
1,477,100,000
5,273,196,936
762,724,347
12,526,121,686
1,625,109,428
11,726,662,047
124,591,184,261
31,023,973,746
19,641,219,612
32,499,636,328
7,378,062,261
235,045,878
184,327,562
Relationship
(315,757,149)
(3,020,838,455)
(65,624,988)
(90,684,164)
(91,748,718)
(184,327,562)
Currency: VND
....Share disposal and acquisition transactions:
Related parties
Collection of revenue
from rendering
management services,
royalty and utilities
(32,658,335,101)
(16,012,242,607)
Receipt from share
disposal
Share disposal
Subsidiary
32
Share acquisition
Payment for share
acquisition
810,176,525,000
(810,176,525,000)
Quarter 12016
27. TRANSACTIONS WITH RELATED PARTIES (continued).
27.1. Significant transactions with related parties (continued)
Currency: VND
~ Capital contribution. dividend receipt and co-operation transactions:
Related parties
Relationship
Capital contribution
Dividend receivables
Dividend received
Times Trading LLC
Subsidiary
300,000,000,000
(300,000,000,000)
Royal City JSC
Subsidiary
512,156,250,000
(255,000,000,000)
Tan Lien Phat JSC
Subsidiary
340,000,000,000
(340,000,000,000)
Subsidiary
28,000,000,000
VinEco LLC
Subsidiary
906,400,000,000
Collection of deposit
5,000,000,000,000
Currency: VND
~ Lending and borrowing transactions:
Collection of loan
principal
Borrowing
Repayment of borrowing
principal
Relationship
Lending
Vinpearl Ha Long LLC
Subsidiary
(63,000,000,000)
Tan Lien Phat JSC
Subsidiary
(1,207,000,000,000)
2,207,000,000,000
Royal City JSC
Subsidiary
(196,000,000,000)
863,982,065,481
Saidong JSC
Subsidiary
(340,856,105,150)
665,973,680,039
Hanoi Southern JSC
Subsidiary
(200,000,000,000)
1,018,409,209,904
Vinpearl Nha Trang LLC
Subsidiary
832,000,000,000
(3,078,340,818,626)
Subsidiary
285,000,000,000
(2,575,000,000,000)
Phu Quoc Tourism JSC
Subsidiary
(241,000,000,000)
50,000,000,000
Vinpearlland LLC
Subsidiary
(128,000,000,000)
66,692,444,443
Vincom Retail JSC
Subsidiary
Subsidiary
(213,170,400,000)
1,404,941,666,667
(1,442,000,000,000)
Related parties
VinmecJSC
(159,398,900,000)
(1,870,000,000,000)
33
Quarter I 2016
Collection of loan
principal
Borrowing
223,281,916,666
300,000,000,000
Currency: VND
Repayment of borrowing
principal
(1,300,281,916,666)
....Lending and borrowing transactions (continued)
Related parties
Vincommerce JSC
Relationship
Subsidiary
Lending
Hong Ngan JSC
Subsidiary
1,083,000,000,000
(1,245,064,097,225)
Vinaconex-Viettel JSC
753,000,000,000
500,000,000,000
(570,000,000,000)
Metri JSC
Subsidiary
Subsidiary
VEF Center JSC
VinDS LLC
Subsidiary
Subsidiary
900,000,000,000
Southern Star JSC
Vinpearl Management LLC
Subsidiary
(249,000,000,000)
(599,000,000,000)
180,000,000,000
Subsidiary
(180,000,000,000)
Currency: VND
....Collection and payment of interest:
Related parties
Royal City JSC
Saidong JSC
Times Trading LLC
Hanoi Southern JSC
Vinpearl Nha Trang LLC
Vinpearl JSC
Relationship
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Interest payable
Interest receivable
10,188,950,000
20,820,715,188
12,943,526,627
13,784,887,396
61,727,580,381
Interest paid
(960,821,147)
14,144,994,850
(36,465,261,149)
57,312,398,656
Interest received
(525,614,214)
(23,042,658,950)
14,362,772,825
(43,938,435,111)
24,000,000,000
(131,444,444)
15,092,000,000
34
Quarter I 2016
Currency: VND
....Collection and payment of interest (continued):
Interest payable
Interest paid
Relationship
Interest receivable
Vinpearlland LLC
Subsidiary
14,244,333,334
Vincom Retail JSC
Subsidiary
274,162,192,973
(85,885,800,000)
VinmecJSC
Subsidiary
9,550,916,667
(20,827,916,667)
North Vincom Retail Ltd
Subsidiary
53,221,583,334
Vincommerce JSC
Subsidiary
2,604,955,694
Hong Ngan JSC
Subsidiary
(29,786,440,900)
54,935,902,775
Southern Star Urban JSC
Subsidiary
(6,167,777,778)
14,553,777,778
Related parties
Interest received
(307,555,557)
86,829,600,000
(650,801,832,084)
(57,123,500,003)
(34,283,328,446)
35
B09a-DN
Quarter I 2016
27.2. Amounts due to and due from related parties
~ Trade receivables :
Currency: VND
Amount
31,023,973,746
219,256,480,400
124,431,607,978
11,246,550,456
32,443,896,883
Relationship
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Transaction
Management fee receivables
Subsidiary
37,840,359,108
Relationship
Subsidiary
Transaction
Currency: VND
Amount
80,446,747,046
Saidong JSC
Subsidiary
29,853,859,634
Royal City JSC
Subsidiary
21,987,381,858
Dividend receivables
257,156,250,000
16,920,166,665
Related parties
Southern Star JSC
Royal City JSC
Tan Lien Phat JSC
Hong Ngan JSC
Vinhomes 1 LLC
Vincom Retail JSC
12,526,121,686
~ Other short-term receivables :
Related parties
Southern Star JSC
Tan Lien Phat JSC
Times Trading LLC
Subsidiary
Vinpearlland LLC
Subsidiary
Subsidiary
Vinmec JSC
56,307,586,828
100,151,303,498
Subsidiary
BFF LLC
Subsidiary
9,917,740,131
19,373,616,460
Vinpearl Da Nang LLC
Subsidiary
52,302,888,891
Subsidiary
42,832,088,889
Vincom Retail JSC
Subsidiary
20,495,027,777
176,857,686,193
26,577,777,778
Relationship
Associate
Subsidiary
Subsidiary
Subsidiary
Transaction
Interest payable
Interest payable
Interest payable
Interest payable
Currency: VND
Amount
12,048,186,112
57,589,079,790
32,398,333,334
44,012,356,224
Subsidiary
Interest payable
Interest payable
Subsidiary
Subsidiary
~ Other short-term receivables:
Related parties
Vien Dong Pearl Ltd
Hong Ngan JSC
Vinmec JSc
Vincommerce JSC
Vietnam Exhibition Fair
Center JSC
Future Property Invest LLC
Vincom Retail JSC
Subsidiary
Subsidiary
Subsidiary
Interest payable
Interest payable
36
43,744,404,434
43,183,069,212
10,287,499,999
164,373,636,018
B09a-DN
Quarter 12016
28. COMMITMENTS
(continued)
AND CONTINGENCIES
Commitments relating to investing activities
No.
Name of
investee
Tay Tang Long
1 LLC
Vincom Security
2 LLC
Vincom 3
Construction
3 ManagementLLC
4 Vinhomes 2 LLC
Vincom 7
Construction
5 ManagementLLC
VinAcademy
Educationand
6 Training LLC
Investee's
chartered capital
The Company's capital
contribution commitment
Amount
Actual contributed
capital
Committed uncontributed capital
Amount
Amount
%
VND
VND
10%
635,000,000
29,365,000,000
50,000,000,000
100%
2,000,000,000
48,000,000,000
400,000,000,000
100,000,000,000
376,000,000,000
94,000,000,000
94%
94%
217,910,000,000
5,640,000,000
158,090,000,000
88,360,000,000
50,000,000,000
47,000,000,000
94%
17,000,000,000
30,000,000,000
50,000,000,000
47,000,000,000
94%
28,500,000,000
18,500,000,000
950,000,000,000
644,000,000,005
271,685,000,000
372,315,000,000
VND
VND
300,000,000,000
30,000,000,000
50,000,000,000
Capital expenditure commitments relating to on-going real estate projects
The Company has entered into a number of contracts relating to the development of some real estate
projects of the Company. The oustanding commitment on these contracts amounted to approximately
VND4,197 billion as at 31 March 2016.
According to Decision No. 4233/QD-UBND dated 10 September 2015, the People Committee of Hanoi has
approved the adjustment of additional investment stage of the overhead roads projects along Ring Road 2,
section from Vinh Tuy bridge to Nga Tu So under a Build-Transfer contract. As at 31 March 2016, the
outstanding investment cost of phase 1 of the project is estimated at VND2,591 billion.
Other commitment
Commitments on site clearance and land compensation for Vu Yen project
Pursuant to the Official Letter No. 3070/UBND-DC2 on the advance for site clearance and land
compensation for Vu Yen Island Project, a complex of entertainment facilities, residential areas and
ecological park in Hai An ward, Thuy Nguyen district, Hai Phong city, the Company is obligated to pay site
clearance and land compensation amounting to VND351.8 billion. As at 31 March 2016, the remaining
committed amount is VND132.5 billion.
Commitments to acquire shares of a subsidiary from an individual
According to share transfer contracts dated 28 September 2015 between the Company and a shareholder
of an existing subsidiary, the Company commits to acquire 26,379,686 shares, which is equivalent to
31.72% charter capital of this subsidiary. The consideration under this contract is VN0852.7 billion.
37
B09a-DN
Quarter I 2016
28. COMMITMENTS AND CONTINGENCIES (continued)
Commitments under share transfer contract of VEFAC JSC
According to share transfer contracts of the strategic investor signed between the Company and Vietnam
Exhibition Fair Center One-member Limited Liability Company on 13 March 2015, the Company commits
to mobilise 100% capital for the construction of the National Exhibition Fair Center in accordance to the
approved project schedule. Within 3 years from the handover of the land area to VEFAC, the first stage of
the National Exhibition Fair Center should be completed except for delays due to certain unexpected
causes.
Commitment on site clearance and land compensation for Vinhomes Riverside Hai Phong project
Pursuant to the Official Letter No. 2294/QD-UBND from the People Committee of Hong Bang District
dated 17 November 2015, the Company is obliged to settle site clearance and land compensation costs
amounting to VND728.3 billion. As at 31 March 2016, the outstanding committed amount is VND428.3
billion.
Commitments to acquire shares of an associate from individual counterparties
According to share transfer contracts dated 25 November 2015 between the Company and individual
counterparties, the Company commits to acquire 40% share capital of an associate. The consideration
under this contract is VND1,320 billion. As at 31 March 2016, the Company has made deposit of VND400
billion to these two counterparties.
Commitments to acquire shares in a long-term investment from individuals
According to share transfer contracts dated 25 November 2015 between the Company and individual
counterparties, the Company commits to acquire 245,258,503 shares, which is equivalent to 81,75%
charter capital of an existing long-term investment of the Group. The value of this contract is VND7,357
billion. As at 31 March 2016, the Company has transferred the deposits to these individuals, which
amounted to VND6,OOObillion.
38
B09a-DN/HN
Quarter 12016
29. RECLASSIFICATION OF CORRESPONDING FIGURES
Comparative figures is the financial statements as at and for the year ended 31 December 2015 which is
audited by Ernst & Young Vietnam LLC (EY). Certain corresponding figures have been reclassified to
conform to current year's separate financial statement presentation.
30. EVENTS AFTER THE BALANCE SHEET DATE
There are no other events occurring after the balance sheet date that have significant impact or can
impact materially to the Company's operation and separate income of the Company after the balance
sheet date.
»:..
Ngo Thi Huyen
Preparer
Nguyen Thi Thu Hien
Chief accountant
04 May 2016
39
Duong Thi Mai Hoa
General Director
(continued)
Quarter 12016
APPENDIX 1 - THE GROUP STRUCTURE AS AT 31 MARCH 2016
No.
Full name
Voting right
1
Vincom Retail JSC
100.00%
2
South Vincom Retail Ltd
100.00%
3
100.00%
4
Metropolis LLC
100.00%
5
Riverview Complex DaNang LLC
100.00%
6
Suoi Hoa Urban Development and
Investment JSC
88.00%
7
Vin Tay Commercial Trading JSC
95.00%
8
Hanoi Entertaiment Culture Sport
Center JSC
Blue Star Urban Development and
Commercial Investment JSC
100.00%
10
An Phong Investment JSC
100.00%
11
Times Trading Investment and
Development One Member LLC
100.00%
12
Vinhomes 1 Real Estate Trading LLC
100.00%
13
Vinhomes 2 Real Estate Trading LLC
100.00%
14
Royal City Real Estate Development
& Investment JSC
9
100.00%
98.36%
Equity
Registered office's address
interest
99.06% Vinhomes Riverside (1)
99.06% No. 72, Le Thanh Ton and No. 45A Ly
Tu Trong, Ben Nghe ward, District 1,
HCM city
99.06% No. 72A, Nguyen Trai street, Thuong
Dinh ward, Thanh Xuan district, Hanoi
99.06% No. 72, Le Thanh Ton Street, Ben
Nghe ward, District 1, HCM city
99.06% Ngo Quyen street, An Bac Hai ward,
Son Tra district, Da nang city
87.17% Km1 + 200, Tran Hung Dao street,
Suoi Hoa ward, Sac Ninh city, Sac
Ninh province
94.11% No. 14 Nguyen Trai, An Hoi ward,
Ninh Kieu district, Can Tho city
99.06% No.2, Pham Ngoc Thach Street,
Trung Tu ward, Dong Da district, Hanoi
99.06% No. 12, land 99, Nam Duong street,
held 19 Thuong Thanh Ward , Long
Bien District, Hanoi
99.06% No.3, Road 3/2, No. 11 Ward, No. 10
District, Hochiminh
100.00% No. 72, Le Thanh Ton and No. 45A Ly
Tu Trong, Ben Nghe ward, District 1,
HCM city
Investing, developing and trading real
estate properties
Leasing real estate properties
estate properties
estate properties
estate properties
estate properties
estate properties
Trading real estate properties
Trading real estate properties
98.36% No. 72A, Nguyen Trai street, Thuong
Dinh ward, Thanh Xuan district, Hanoi
estate properties
40
(continued)
Quarter I 2016
No.
Full name
Voting right
Equity
interest
98.90% No. 458, Minh Khai street, Vinh Tuy
ward, Hai Sa Trung district, Hanoi
Hanoi Southern City Development
JSC
Saidong Urban Development &
Investment JSC
Xavinco Land JSC
98.90%
96.44%
96.42%
70.00%
65.80%
75.00%
74.70%
20
Isado Business Cooperation and
Development LLC
Tan Lien Phat Construction
Investment Corporation JSC
Hong Ngan Real Estate JSC
100.00%
94.00%
21
Xalivico LLC
74.00%
71.35%
22
Vietnam Exhibition Fair Center JSC
83.32%
83.32%
23
90.00%
89.99%
74.00%
74.00%
67.17%
67.17%
26
Southern Star Urban Development
and Trading Investment JSC
Hoa Mai Trading Commercial
Services LLC
Metri Sport and Entertainment
Development JSC
Dong Phu Hung - Sinh Thuan JSC
99.00%
97.73%
27
Metropolis Hanoi LLC
100.00%
98.36%
28
Sunflower Development and
Investment JSC
100.00%
75.17%
15
16
17
18
19
24
25
94.00%
estate properties
estate properties
No. 191, Sa Trieu street, Le Dai Hanh
estate properties
ward, Hai Sa Trung district, Hanoi
Vinhomes Riverside (1)
estate properties
No. 72, Le Thanh Ton Street, Sen
estate properties
No. 31, Ngo Gieng, Dong Cac street,
estate
properties
Cho Dua, Dong Da, Hanoi
Investing,
developing and trading real
233 Nguyen Trai Street, Thuong Dinh
estate
properties
ward, Thanh Xuan district, Hanoi
No. 148 Giang Vo street, Giang Vo
estate
properties
ward, Sa Dinh district, Hanoi
Investing,
developing and trading real
No. 72, Le Thanh Ton Street, Ben
estate
properties
No. 72, Le Thanh Ton Street, Sen
estate properties
No 7 Thang Long Avenue, Me Tri
estate properties
Ward, Nam Tu Liem District , Hanoi
Highway 55, village Thang Hai, Thang Investing, developing and trading real
Hai Commune, Ham Tan ,Sinh Thuan estate properties
Province
HH land area, Pham Hung street, Tu
estate
properties
Liem, Hanoi
T4-L2-10, Room 10, 2nd floor, Times
estate properties
City, 458 Minh Khai, Hai Sa Trung
o
district, Hanoi
41
Quarter 12016
No.
Full name
29
Vinaconex-Viettel Urban
Development JSC
30
100.00%
32
Vietnam Lotus Industrial and
Commercial Investment JSC
Vietinbank Trade Union Investment
JSC
Vinpearl JSC
33
Vinpearl Management LLC
100.00%
34
Vlnpearl Nha Trang LLC
100.00%
35
Vinpearl Da Nang One Member LLC
100.00%
36
Vinpearl Hoi An One Member LLC
100.00%
37
Vinpearl Quy Nhon JSC
38
Future Property Invest LLC
39
Tay Tang Long Real Estate LLC
59.00%
40
Tay Ho View Hotel and Tourism LLC
70.00%
41
Vinpearl Bai Dai LLC
90.00%
31
Voting right
98.30%
100.00%
100.00%
98.00%
100.00%
Equity
interest
75.14% Floor 9, Vinaconex Tower, No. 34
Lang Ha Street, Dong Da district,
Hanoi
98.59% No. 93, KP4, Hung Dao Vuong street,
Trung Dung ward, Bien Hoa city
97.52% Chua Tham Street, Xuan Lam, Thuan
Thanh, Bac Ninh province
88.34% Hon Tre Island, Vinh Nguyen ward,
Nha Trang City, Khanh Hoa province
88.34% Truong Sa road, Hoa Hai ward, Ngu
Hanh Son district, Da Nang city
88.34% Phuoc Hai Block, Cua Dai ward, Hoi
An city, Quang Nam province
86.57% Hai Giang Village, Nhon Hai
Commune, Quy Nhon city, Binh Dinh
province
88.34% Truong Sa road, Hoa Hai ward, Ngu
Hanh Son district, Da Nang city
61.84% No. 58 Tay Ho Street, Quang An ward,
Tay Ho district, Hanoi
79.51% No. 17A Bach Dang Street, Phuoc
Tien ward, Nha Trang city, Khanh Hoa
province
42
estate properties
estate properties
estate properties
Investing, developing and trading
hospitality services
Management consultancy, real estate
brokerage, auction, tourism support and
promotion
Ecotourism and other services
estate properties
Quarter I 2016
No.
Full name
42
Cam Ranh Investment LLC
90.00%
43
Hon Mot Tourism JSC
83.63%
44
Hon Tre Investment And
Development LLC
Phu Quae Tourism Development and
Investment JSC
90.00%
46
Vinpearl Phu Quoc One Member LLC
100.00%
47
100.00%
48
Vinpearlland LLC
100.00%
49
86.96%
51
BFF Commercial Trading Investment
LLC
Vincommerce General Commerce
Services JSC
VinDS Trading and Services LLC
52
Vinlinks JSC
79.96%
53
Vincom 1 Construction Management
LLC
100.00%
54
LLC
100.00%
45
50
Voting right
55.00%
72.35%
70.00%
Equity
interest
79.51% No. 16, Mac Dinh Chi, Phuoc Tien
ward, Nha Trang city, Khanh Hoa
province
79.51% No. 42/2 Dong Nai,Phuae Hai ward,
Nha Trang city, Khanh Hoa province
48.59% Bai Dai Area, Ganh Dau Commune,
Phu Quoc District, Kien Giang province
Providing short - stay services
48.59% Bai Dai Area, Ganh Dau Commune,
Phu Quoc District, Kien Giang province hospitality services
88.34% Reu Island, Bai Chay ward, Ha Long
City, Quang Ninh province
79.96% 5th floor, 3D Building, Duy Tan street,
Dich Vong Hau ward, Cau Giay
district, Hanoi
43
Amusement park andtheme park
entertainment services
Sale of goods in retail outlets
Retails in department stores
Providing logisctic and other related
services
Residential and civil constructions
Architecture activities and technical
consultancy
Residential and civil constructions
Architecture activities and technical
(continued)
Quarter 12016
Equity
interest
No.
Full name
55
LLC
Vinmec International General
Hospital JSC
Vinschool One Member LLC
100.00%
Vinacademy Education and Training
LLC
Vincom Security Service LLC
100.00%
100.00%
70.00%
Produce and trade agricultural products
89.02%
62.32% Co Quan Commune, Gia Khanh town,
Binh Xuyen district, Vinh Phuc province
77.50%
54.25% Km13, Highway 51, Long Khanh 3
Hamlet, Tam Phuoc commune, Bien
Hoa City, Dong Nai Province.
70.59% 38/2 Bach Dang Street, Ward No.7,
Da Lat City. Lam Dona province
70.59% No. 1/5 Le Hong Phong Street, Ward
No.4, Da Lat City, Lam Dong Province
56
57
58
59
60
61
62
63
64
65
66
67
68
Voting right
VinEco Agricultural Investment
Development and Production LLC
VinEco-Tam Dao agricultural
Investment Development and
production LLC
Dongnai - Vineco Agriculture LLC
Hoang Lan Production - Trading Service JSC
Hoa Hong Yang Agriculture and Food
JSC
Ha Thanh Real Estate Investment
And Urban Infrastructure
-Hop Nhat Trading
JSC
Vinlandscape Design Construction
And Landscape Management LLC
Ocean Mart Express JSC
100.00%
100.00%
100.00%
100.00%
100.00%
99.80%
100.00%
80.00%
98.90% No 458, Minh Khai street, Vinh Tuy
ward.Hai Ba Truna district. Hanoi
79.80% 5th floor, 3D Building, Duy Tan street,
Rendering architectural & construction
technical advisory services
Health care, medical and related services
Providing education services
Vocational education
& training
Security services
Transportation
constructions
roads and railway
Providing logisctic and other related
Landscape maintenance services
48.29% No. 19, Nguyen Trai Road, Khuong
Truna ward. Thanh Xuan district. Hanoi
(1) Full registered office address: No.7, Bang Lang 1 street, Vinhomes Riverside Eco-urban Area, Viet Hung ward, Long Bien district, Hanoi.
(*) These companies are in the process of completing necessary procedures for dissolution.
44
NOTES TO THE INTERIM SEPARATE INCOME STATEMENTS (continued)
Quarter 12016
APPENDIX 2 - EXPLANATION FOR THE VARIANCES OF PL BETWEEN TWO PERIOD
Currency: VND
(follow Cicular No15512015/TT-BTC date 06/1012015)
Quarter I 2015
Difference
%
2016
PL
ITEMS
Quarter 12016
01
Gross revenue
Deductions
Net revenue
271,986,129,060
192,538,116,883
79,448,012,177
41.26%
271,986,129,060
271,986,129,060
192,538,116,883
79,448,012,177
41.26%
271,986,129,060
Costs of goods sold and services rendered
Gross profit
236,477,576,425
138,282,580,306
98,194,996,119
71.01%
236,477,576,425
35,508,552,635
54,255,536,577
(18,746,983,942)
-34.55%
35,508,552,635
2,823,418,441,825
719,457,631,682
566, 194,520, 155
(649,127,756,056)
153,181,275,983
-22.99%
21.29%
31.89%
02
10
11
20
6,264,314,161
25,437,977,298
154.82%
2,174,290,685,769
872,638,907,665
746,765,474,212
6,264,314,161
41,868,499,901
2,141,785,824,117
(852,758,307,440)
-39.82%
1,289,027,516,677
1,874,780,501
1,529,387,290
650,699,590
64,474,720
1,224,080,911
1,464,912,570
188.12%
2272.07%
1,874,780,501
1,529,387,290
345,393,211
586,224,870
(240,831,659)
-41.08%
345,393,211
1,289,372,909,888
2,142,372,048,987
(852,999,139,099)
-39.82%
1,289,372,909,888
21
22
23
25
26
- In which: Interest expenses
Selling expenses
General and administrative expenses
2,174,290,685,769
872,638,907,665
746,765,474,212
6,264,314,161
41,868,499,901
30
Operating profit
1,289,027,516,677
Financial Income
Financial expenses
31
32
Other income
Other expenses
40
Other profit
50
Net profit before tax
Corporate income tax expense
51
52
Current corporate income tax expense
Deferred corporate income tax income/(expense)
16,430,522,603
180,570,954,057
(198,289,885)
(198,289,885)
1,829,039,579
815,374,847
(1,013,664,732)
815,374,847
(1,013,664,732)
815,374,847
(1,013,664,732)
-39.81%
1,289,571,199,773
(852,800,849,214)
2,142,372,048,987
1,289,571,199,773
Net profit after tax
EXl2lainations for exceed of 10% increase/decrease in the Income Statement's norms between the 2 rel20rt l2eriods
_ Revenue in quarter 1 of 2016 increased significant in comparation to the same period last year mainly due to increase in revenue from management fee and
loyalty. Cost of good sold increased in corresponding with revenue.
60
_ The decrease in income from investing activities is the main cause of decreasing in financial income in this period. Financial expenses increased mainly due to
loan interest and allocation of bond issuance costs of new bond issue for the Company's operation.
_Selling expenses increased due to advertising expenses for real estate projects. Administrative expenses increased in line with increase in real estate activities.
- Other income and other expenses increased due to income and expenses from disposal of fixed assets.
45
NOTES TO THE INTERIM SEPARATE INCOME STATEMENTS {continued}
Quarter 12016
APPENDIX 3: BASIC FINANCIAL RATIOS
Unit
Items
Current period
Last period
Asset Structure
Non-Current asset I Total Asset
Current asset I Total Asset
%
%
69.2%
30.8%
69.1%
30.9%
Equity Structure
LiabilitesI Total equity
Debts I Total Equity {*}
Net Debts I Total Equity {*}
Owner equity I Total equity
%
%
%
%
49.7%
37.8%
9.3%
50.3%
52.4%
44.7%
10.5%
47.6%
Times
Times
1.44
1.49
1.17
1.20
%
%
%
1.59%
474.1%
3.2%
3.26%
1112.7%
6.1%
Liquidity
Quick ratio
Current ratio
Profitable
Profit after tax I Total Asset
Profit after tax I Total revenue
Profit after tax I Owner equity
46

2016_Separate Financial Statement Quarter I

Transcription

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