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Consolidated balance sheet as of 31 December 2007 (ITA Group)

Consolidated Financial Statements for the fiscal year ended 31 December 2007.

 
TAN TAO INVESTMENT - INDUSTRY CORPORATION - TAN TAO GROUP
Address: Tan Tao Industrial Park, Binh Tan District, Ho Chi Minh City
CONSOLIDATED FINANCIAL STATEMENTS
For the fiscal year ended 31 December 2007
CONSOLIDATED BALANCE SHEET
As of 31 December 2007
ITA GROUP Unit: VND
  ASSETS Code Note Adjusment Ending balance Beginning balance
A - CURRENT ASSETS 100     1,682,485,773,835 410,878,987,474
             
I. Cash and cash equivalents 110     652,890,557,676 57,031,563,541
1. Cash 111 V.1   652,890,557,676 57,031,563,541
2. Cash equivalents 112     0  
             
II. Short-term investments 120     436,132,675,339 0
1. Short-term investments 121 V.2   436,132,675,339  
2. Provisions for devaluation of
short-term investments
129     0  
             
III. Accounts receivable 130     548,972,279,657 341,085,926,696
1. Receivable from customers 131 V.3 (43,216,058,866) 44,577,938,099 46,231,959,025
2. Prepayments to suppliers 132 V.4   381,548,027,651 229,391,665,916
3. Short-term inter-company
receivable
133     0  
4. Receivable according to the
progress of construction
contracts
134     0  
5. Other receivable 135 V.5 (84,201,262,168) 122,846,313,907 65,462,301,755
6. Provisions for bad debts 139     0  
             
IV. Inventories 140   - 594,463,374 731,368,501
1. Inventories 141 V.6   594,463,374 731,368,501
2. Provisions for devaluation
of inventories
149     0  
             
V. Other current assets 150     43,895,797,789 12,030,128,736
1. Short-term prepaid
expenses
151 V.7   273,043,654  
2. VAT to be deducted 152     2,859,040,968 5,349,269,515
3. Taxes and other accounts
receivable from the State
154     0  
4. Other current assets 158 V.8   40,763,713,167 6,680,859,221
             
             
             
  ASSETS Code Note   Ending balance Beginning balance
             
B - LONG-TERM ASSETS 200   216,000,000,000 3,019,513,493,000 1,244,930,189,967
             
I. Long-term accounts
receivable
210     0 0
1. Long-term accounts
receivable from customers
211     0  
2. Working capital in affiliates 212     0  
3. Long-term inter-company
receivable
213     0  
4. Other long-term receivable 218     0  
5. Provisions for bad debts 219     0  
             
II. Fixed assets 220     654,243,592,414 297,167,455,599
1. Tangible assets 221 V.9   29,169,368,921 29,124,065,612
  Historical costs 222     41,679,989,161 39,281,428,774
  Accumulated depreciation 223     (12,510,620,240) (10,157,363,162)
2. Financial leasehold assets 224 V.10   13,300,000,000 0
  Historical costs 225     14,000,000,000  
  Accumulated depreciation 226     (700,000,000)  
3. Intangible assets 227 V.11   15,551,970,873 15,184,948,624
  Initial costs 228     17,124,760,027 16,651,572,027
  Accumulated amortization 229     (1,572,789,154) (1,466,623,403)
4. Construction-in-progress 230 V.12   596,222,252,620 252,858,441,363
             
III. Investment property 240 V.13   0 43,648,552,382
  Historical costs 241     0 45,830,980,000
  Accumulated depreciation 242     0 (2,182,427,618)
             
IV. Long-term investments 250     2,141,653,788,269 903,342,260,177
1. Investments in affiliates 251   (913,481,682,502) 0  
2. Investments in
business concerns
and joint ventures
252 V.14 (3,684,000,000) 1,116,396,794,823 54,187,182,871
3. Other long-term investments 258 V.15   1,025,256,993,446 849,155,077,306
4. Provisions for devaluation
of long-term investments
259     0  
             
V. Other long-term assets 260     7,616,112,317 771,921,809
1. Long-term prepaid expenses 261 V.16   793,519,157 669,328,649
2. Deferred income tax assets 262   6,720,000,000 6,720,000,000  
3. Other long-term assets 268 V.17   102,593,160 102,593,160
             
VI. Goodwill 270 V.18 216,000,000,000 216,000,000,000  
             
  TOTAL ASSETS 270     4,701,999,266,835 1,655,809,177,441
  LIABILITIES AND
OWNER'S EQUITY
Code Note   Ending balance Beginning balance
A - LIABILITIES 300     1,359,252,727,542 1,010,706,359,041
             
I. Current liabilities 310     951,823,340,229 732,904,098,933
1. Short-term debts and loans 311 V.18   29,564,674,548 100,809,289,600
2. Payable to suppliers 312 V.19 (15,160,678,714) 17,872,990,086 8,951,138,089
3. Advances from customers (*) 313 V.20   300,007,148,045 167,206,827,727
4. Taxes and other obligations
to the State Budget
314 V.21   97,557,235,896 69,092,266,915
5. Payable to employees 315     15,955,200  
6. Accrued expenses (**) 316 V.22   481,038,971,389 383,445,277,077
7. Inter-company payable 317     190,788  
8. Payable according
to the progress
of construction contracts
318     0  
9. Other payable 319 V.23 (84,201,262,168) 25,766,174,277 3,399,299,525
10. Provisions for short-term
accounts payable
320     0  
             
II. Long-term liabilities 330     407,429,387,313 277,802,260,108
1. Long-term accounts
payable to suppliers
331     0  
2. Long-term inter-company
payable
332     0  
3. Other long-term payable 333 V.24   6,940,966,025 9,696,428,512
4. Long-term debts and loans 334 V.25 (28,055,380,152) 400,488,421,288 268,105,831,596
5. Deferred income tax payable 335     0  
6. Provisions for unemployment
allowances
336     0  
7. Provisions for long-term
accounts payable
337     0  
             
             
B - OWNER'S EQUITY 400     3,307,549,867,591 570,902,137,364
             
I. Owner's equity 410     3,307,550,067,591 570,902,137,364
1. Capital 411   (700,027,445,802) 1,000,000,000,000 450,000,000,000
2. Share premiums 412     1,907,778,839,500  
3. Other sources of capital 413     0  
4. Treasury stocks 414     (18,000,000)  
5. Differences on
asset revaluation
415     0  
6. Foreign exchange
differences
416     (73,795,837) 0
7. Business promotion fund 417     0  
8. Financial reserved fund 418     7,654,986,000  
9. Other funds 419     0  
10. Retained earnings 420   (29,614,908,402) 392,208,037,928 120,902,137,364
11. Construction
investment fund
421     0  
II. Other sources and funds 430     (200,000) 0
1. Bonus and welfare funds 431     (200,000)  
2. Sources of expenditure 432     0  
3. Fund to form fixed assets 433     0  
C - MINORITY INTERESTS 500   35,196,671,702 35,196,671,702 74,200,681,036
  TOTAL LIABILITIES AND
OWNER'S EQUITY
440     4,701,999,266,835 1,655,809,177,441
  OFF-BALANCE SHEET ITEMS          
  ITEMS   Note   Ending balance Beginning balance
1. Leasehold assets       - -
2. Materials and goods kept
or processed for others
      - -
3. Goods deposited by others       - -
4. Bad debts already treated       - -
5. Foreign currency       -  
  Dollar Mỹ (USD)       91,278.65 183,402.55
  Euro (EUR)       - -
  Dollar Singapore (SGD)       - -
  Yên Nhật (¥)       - -
  Dollar Úc (AUD)       - -
  Bảng Anh (£)       - -
  Dollar Canada (CAD)       - -
6. Estimates for non-business
and project expenditure
      - -
Ho Chi Minh City, 6th February 2008
  TRAN DINH HUNG NGUYEN THI SUONG THAI VAN MEN
  Preparer Chief Accountant General Director
Note:
(V.20) This is the advances money of customers leasing land in Tan Tao Industrial Park but not yet
transfer land .
(V.22) This is not the current liabilities. It is the accrual of investment expenses, which is
corresponding to the revenue from land and plant leasing already recognized.