Song Da Urban & Industrial Zone Investment and Development Joint Stock Company (SUDICO) has informed of the project in Quang Nam and business result in Q2/2010 as follows:
1. The project of Ho Song Dam urban area in Quang Nam Province:
* Location of the project: Tam Thang Commune, Tam Ky City, Quang Nam Province
* Area: around 600 hectares
* Time of completing research of the project: 6 months (From 23rd July 2010)
On 30th July 2010, the Management Board of the Chu Lai opened economic area disclosed a Document No.380/KTM-TGDT about allowing SUDICO to set plan of marking boundary on Ho Song Dam, Tam Ky City for construction and present to the Management Board of the Chu Lai opened economic area for getting approval.
2. Business result in Q2/2010
In Q1/2010, there was no difference of accumulation in the integrated financial statement because SUDICO owns 100% capital of two subsidiaries as the SUDICO An Khanh one-member limited company and the SUDICO Tien Xuan one-member limited company. However, in Q2/2010, SUDICO contributed VND3.75 billion or 375,000 shares to the SUDICO Services JSC. On 18th June 2010, SUDICO officially increased its contribution capital from VND3.9 billion (Accounting for 26% of chartered capital) to VND7.65 billion (Accounting for 51% of chartered capital).
Therefore, since integrating the financial statement of Q2/2010, there was difference of accumulation result. The different number will be adjusted in the examined integrated financial statement of the first 6 months 2010.