POS: Report on audit exception for semi-annual FS2012

POS: Report on audit exception for semi-annual FS2012

Post and Telecommunication Equipment JSC announces the explanation for the audit exception in Semi-annual financial statement 2012 as below:

Since the beginning of 2012 , the Lao-Viet Bronze Cable Collaboration Company Ltd has postponed the production activities under the effect of the whole market. So that is the reason why Lao-Viet Bronze Cable Collaboration Company Ltd has not sent us the semi-annual financial statement. Therefore the semi-annual consolidated financial statement 2012 of POSTEF is not included in the financial statement of LVCC.

POSTEF has a percentage of 28.3% in the total capital CSH of the Lao-Viet Bronze Cable Collaboration Company Ltd (LVCC). The arising expense in first 6 months of 2012 of LVCC mostly includes the fixed asset depreciation expenses so its effect to the semi-annual financial statement of POSTEF is minimal.

However at the end of 2012, the Annual Financial Statement of POSTEF will include the financial statement of LVVC as stated by law.

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