PPG: Explanation for reason of stock under supervision and solutions
PPG: Explanation for reason of stock under supervision and solutions
On 08/4/2014, Phu Phong Corporation announced explanation for reason of stock under supervision and solutions as follows:
I. Reason for negative profit after tax in consolidated FS of 02 latest years
- The economy in general and real estate market in particular in recent years was frozen, which influenced on production-business operation of many enterprises, including Phu Phong Corporation.
- Competition between import glass and domestic glass was high. Import glass had cheap price with equivalent quality with domestic glass so demand for import glass was high.
- Skillful personnel of the Company tended to move to some developing industrial zone in hometowns.
- Competition of companies in the same field.
II. Solutions
- Expand markets in the western, eastern south.
- Exploit 3rd-4th grade customers (retail market)
- Exploit export market in Cambodia, Myanmar, Laos, etc.
- Enhance exploitation of civil construction market in South provinces.
- Reorganize business
- Control expenses
- Restructure management in accordance with current situation.
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