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MONTHLY REPORT MONTHLY REPORT September, 2009September, 2009

Accounting, Finance and InvestmentAccounting, Finance and Investment

Prepared by Tran Thu HuyenPrepared by Tran Thu Huyen

This month activities and This month activities and AchievementsAchievements

I)Tax monthly reports : VAT, PIT , Withholding tax

II) Open Visa Debit card for BOD, Regional Director, BM for business expense

This month activities and This month activities and AchievementsAchievements

Using Policy

Do not allow withdrawing cash

Users will take the responsibility of card balance, reimbursement for all expense payments (following payment guideline) The fund will be deposited after finishing clearance of previous advance

Losing Card: 8 352 66 060Fee : 50,000 VND (paid by user)

This month activities and This month activities and AchievementsAchievements

II) Open Visa Debit card for BOD, Regional Director, BM for business expense (Cont)

Procedure:

BM & Regional BM & Regional fund fund

Transfer to Transfer to

visa card accvisa card acc.. Payment Payment ReimbursementReimbursement

Mark. Acc. V.Debit user

This month activities and This month activities and AchievementsAchievements

III) Tax Registration for New Branch in Can Tho

This month activities and This month activities and AchievementsAchievements

IV) Followings the payment guideline application, communicated with relevant departments on the purchasing guideline launching (General Administration), Letter of authorization on contract signing (Legal) and Taxi regulations on the business trips (Human Resources).

V) Worked with Earns & Young for the half year of 2009 reporting audit.

VI) Worked with IT on the Budget system – phase 2.

Aug 2009 financial Aug 2009 financial incomeincomeTrend of revenue and expense from Jan Trend of revenue and expense from Jan

09 to Aug 0909 to Aug 09( mil VND)( mil VND)

YTDYTD

-

5,000

10,000

15,000

20,000

25,000

Premium Invest Inc Expense

-

20,000

40,000

60,000

80,000

100,000

120,000

140,000

YTD

Expense performanceExpense performance Aug 2009 financial incomeAug 2009 financial income

( mil VND)( mil VND)

Sale expenseSale expenseAdministration expenseAdministration expense

-

2,000

4,000

6,000

8,000

10,000

12,000

Jan Feb Mar Apr May Jun Jul Aug Jan Feb Mar Apr May Jun Jul Aug

Actual Budget

I. Interest RatesI. Interest Rates Due to loan subsidy program, VND & USD shortage pushes deposit rates up:- State-owned commercial banks increased interest rates in VND by 0.5-0.8% pa, and 1-1.5% pa in USD- Joint stock commercial banks increased by 0.7-1.1% pa in VND and 1.1 – 1.6% pa in USDThe average mobilizing rate is quoted as follows (source: SBV):Deposit rate Currency

Demand(% p.a.)

3 months(% p.a.)

6 months(% p.a.)

12 months(% p.a.)

State- ownedcommercial

banks

VND 2.4–3.0 8.0-8.2 8.2-8.4 8.5-8.8

USD 0.1-0.5 1.3-1.8 1.7-1.85 2.0-2.5

Joint-stockcommercial

banks

VND 2.4-3.6 8.1-8.7 8.4-9.0 8.5-9.3

USD 0.1-0.5 1.5-2.0 2.0-2.6 2.5-3.0

II. Foreign Exchange rate:II. Foreign Exchange rate:

Liquidity was improved thanks to measures from SBV: - Inject USD into market (~USD1.5 bio) - Encourage exported enterprises sell back USD for banks

=> Commercial banks still quoted the exchange rate at the ceiling rate set by the SBV, commonly at 17,820 – 17,830

=> Black market: drop by 150 – 200 VND, quoted at 18,260-18,280 VND/USD

Project Next MonthProject Next Month

Working with external audit for quarterly review – Quarter 3 of 2009

Follow-up and support the departments on the budget 2010. The time line for the 2010 budget

Continue cooperate with IT to enhance Finance system

Project Next MonthProject Next Month

FinishFinish

30 Nov30 Nov

28 28 SepSep

revise

23 23 OctOct

revise

Parent Com.

6 6 NNoovv

Report

23

23

SeSe pp

2010 strategy

Planning

12 Oct12 OctMeetin

g

Depts

30 30 OcOctt

Getting approval

Acc.

Depts

21 Sep21 Sep

FeedbackAcc.

5 5 OOcctt

Report

BOD