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Monthly Report June 2010

Monthly Report June 2010. Accounting、Finance、Investment. contents. Activities. Market Watch. Financial Results. Plans. Activities. Accounting. The Budget Performance. Alerting Marketing to the budget deficiency of Financing bonus. Innovation & Incentive.

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Monthly Report June 2010

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  1. Monthly Report June 2010 Accounting、Finance、Investment

  2. contents Activities Market Watch Financial Results Plans

  3. Activities Accounting The Budget Performance Alerting Marketing to the budget deficiency of Financing bonus Innovation & Incentive Launching the program to all staff Profit Center Project Discussing on the investment income’s allocating

  4. Activities Finance Monthly Tax Reports VAT, CIT, Withholding tax, etc. Legal Compliance Update and revise legal compliance for the first half year 2010

  5. Activities Investment Enhance Cash Yield • Control amount/period of time deposits • Seek possibility to earn higher interest rate Bonds Management • Update market value/accrued interest periodically • Seek opportunity to invest in other bonds Market Watch/Research • Follow up the evolution of financial market • Seek opportunity to create other asset class

  6. Market Watch Financial Market in May/June Euro Area Q1 GDP: 0.6% CPI May/Apl: 1.6/1.5% German Dax: 5.51% China Q1 GDP: 11.9% CPI May/Apl: 3.1/2.8% Shanghai: -0.23% US Q1 GDP: 3.0% CPI May/Apl: 0.9/0.9% Dow Jones: 3.02% Taiwan Q1 GDP: 13.3% CPI May/Apl: 0.7/1.3% TWSE: 3.55% Vietnam Q1 GDP: 5.8% CPI May/Apl: 9.1/9.2% Ho Chi Minh: 1.44% VIX Note 1: Stock market return calculated from 31/5 to 21/6. Note 2: VIX is a proxy for market volatility (risk). 2010 2009 • Risk hiked up in May, mainly due to the Greece crisis and Korean conflict, but calm down a little bit in June.

  7. Market Watch Interest Rate Policy Rate Market Rate (on June 22th) % % VN Base Rate 1200bps 775bps Fed Fund Target Rate Note: Up to June 2010. Note: Rate for enterprises. • Majority of banks have set the cap on deposit rate at 11.5%, except for some small JSCBs.

  8. Market Watch Exchange Rate USDVND & USDTWD Market Rate (on June 22th) TWDVND(R) 18544 18990 USDVND(L) 18990 Note: Up to June 22th. Note: Rate for enterprises. • VND is still under pressure of depreciating, while the gap between banks and the black market is almost 0.

  9. Financial Results Profit and Loss YTD May 2010 Results (million VND) Actual / Budget 2010 up to 66% this year to date Note: For profits.

  10. Financial Results Profit and Loss Revenues & Expenses Year to Date Result billion VND billion VND Expenses Revenues • From monthly or from YTD aspect, expenses is kind of high, but the profit is better than expected .

  11. Financial Results Gross Premium Gross Premium (million VND) Actual / Budget 2010 up to 70% this year to date Actual 2010 / 2009 up to 141% this year to date

  12. Financial Results Sales Expenses Sales Expenses (million VND) Actual / Budget 2010 up to 107% this year to date Actual 2010 / 2009 up to 158% this year to date

  13. Financial Results Premium and Sales Expenses Gross Premium Premium and Sales Expenses billion VND Budget billion VND Premium Actual Sale Expenses Actual Sale Expenses billion VND Budget • Sales expenses hit the budget, whereas premium is less than expected.

  14. Plans Accounting Audit Conducted Working with auditors (Earns & Young) on related matters Innovation & Incentive Following up and update to BOD the staff contributions Universal Life Product Set up the accounting process

  15. Plans Finance Internal Audit follow-up Revise internal procedures about cash management Enhance Finance System • Cooperate with IT • Generating cash reports, detail in monitoring cash term deposits Bank Survey Survey bank services due to demand of business development

  16. Plans Investment Enhance Cash Yield • To finding new counterparties for time deposits: • Risk assessment report • Approval to headquarter Portfolio Management • Seek opportunity to invest in all kind of asset class • Keep in contact with market players Market Watch/Research • Keep Following up financial market • Monthly topic presentation about investment issue

  17. Thank you

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