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Construction firm posts loss after audit

Update: June, 06/2012 - 10:10

THANH HOA — Construction firm Song Da 25 (SDJ) was found to come away with losses last year after two audits. From the profit of VND2.7 billion (US$128,500) it recorded in the release of an initial financial statement, the profit dropped to VND851 million ($40,500) after the first audited version. After the additional audit report, the company posted a loss of VND7.4 billion ($352,300).

The main reason for the differences was the change in corporate governance cost from VND9.04 billion ($428,500) to VND19.04 billion ($904,700).

The Ha Noi Stock Exchange has put a warning on the stock since Thursday due to this calculation.-VNS

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