Highlights

On June 30th 2010, Vinachem held its second quarter Hand-over meeting to evaluate the second quarter results and put up the third quarter tasks of 2010.

Mr. Do Duy Phi - Member of Management Board cum President of Vinachem - presided the meeting. Attending the meeting, there were other members of Management Board, Vice Presidents, Mr. Vu Tien Dzung - Chairman of Vinachem's Trade Union, Heads of its Departments and Directors of Vinachem's companies.

Representing Planning - Trading Department, Mr. Bui The Chuyen delivered a report on the second quarter and the first six month results as follows: the second quarter and the first six month industrial production value of 3,300 billion VND and over 6,200 billion VND; the second quarter and the first six month turnover of more than 6,900 billion VND and 13,500 billion VND; the second quarter and the first six month budget contribution of 220 billion VND and over 565 billion VND; the second quarter and the first six month profit of 650 billion VND and 1,250 billion VND.

After the first six months, Vinachem's industrial production growth rate reached 15.1% in which products having the highest growth rates were phosphate fertilizers, automobile tyres and tubes, storage batteries, detergents and basic chemicals. Some companies achieved industrial production value up 50% against 2010 plan and higher growth rates than the same time such as BFC 19%, Pinaco 15%, Netco 13.7%, Bicico 21.2%. Rubber - producing companies also had rather satisfactory industrial production growth rates including DRC 14.8%, SRC 9.3%, however, their results were as much as 50% of 2010 plan.

In the past period, due to narrowed markets and the decreasing prices of several products, Vinachem's turnover growth rate was only 3.1% against the same time of last year. For example, caustic soda, HCl, superphosphate, NPK 12.5.10, H3PO4 prices were 13.2%, 22%, 21.3%, 7.3%, and 20% lower respectively.

Apart from production and trade, total investment - construction value in the second quarter reached 1,967 billion VND, in the first six months of 3,179 billion VND, equivalent to 37% of the annual plan and up 78% against the same period.

Other activities namely scien-tech and environment, security and defence, cooperation and development, financing - accounting, etc, were also implemented well and gained satisfactory results.

After assessing the second quarter and the first six month activities, the third quarter and the annual goals were proposed at the Meeting as below: the third quarter and the annual industrial production value of 3,750 billion VND and 13,970 billion VND; the third quarter and the annual turnover of over 6,922 billion VND and 29,305 billion VND; the third quarter and the annual budget contribution of 200 billion VND and equivalent to 2009 result; the third quarter and the annual profit of 600 billion VND and as much as 2,560 billion VND.

At the Meeting, Vinachem's companies such as DRC, Vinaapaco, SFC, etc mentioned their difficulties and asked for the help and guidance of the Group during their production and trade.