PPG: Explanation for loss in consolidated financial statement 2012
According to Consolidated Financial Statement 2012 (audited), Phu Phong Corporation suffered loss of VND 13,970,899,110. The Company explained for the loss as follows:
- Due to difficulties of the economy in general and real estate, building market in particular, the Company was effected.
- Investing in joint-venture companies (Phu Phong Company, Tien Phong Company) were inefficient.
- Phu Phong Glass One Member Company Limited, subsidiary of Phu Phong Corporation has just operated so it has not brought profit yet.
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