Transcript Monthly meeting_2010..

Monthly Report June 2010
Accounting、Finance、Investment
contents
Activities
Market Watch
Financial Results
Plans
2
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
3
Activities
Finance
Monthly Tax Reports
VAT, CIT, Withholding tax, etc.
Legal Compliance
Update and revise legal compliance for the first half
year 2010
4
Activities
Investment
Enhance Cash Yield
1. Control amount/period of time deposits
2. Seek possibility to earn higher interest rate
Bonds Management
1. Update market value/accrued interest periodically
2. Seek opportunity to invest in other bonds
Market Watch/Research
1. Follow up the evolution of financial market
2. Seek opportunity to create other asset class
5
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%
50
40
Taiwan
Vietnam
VIX
Q1 GDP: 5.8%
CPI May/Apl: 9.1/9.2%
Ho Chi Minh: 1.44%
30
Q1 GDP: 13.3%
CPI May/Apl: 0.7/1.3%
TWSE: 3.55%
20
10
2009
2010
7 8 9 101112 1 2 3 4 5 6

Note 1: Stock market return calculated from 31/5 to 21/6.
Note 2: VIX is a proxy for market volatility (risk).
Risk hiked up in May, mainly due to the Greece crisis
and Korean conflict, but calm down a little bit in June. 6
Market Watch
Interest Rate
Policy Rate
16 %
Market Rate (on June 22th)
VN Base Rate
12
% 16
De.
3M
6 M 12 M
VND
2.7
11.3
11.5
11.5
USD
0.3
1.0
1.0
1.0
VND
3.3
11.4
11.5
11.5
USD
0.4
1.0
1.0
1.0
12
8
8
1200bps
4
775bps
0
Fed Fund Target Rate
04
05
06
07
Note: Up to June 2010.

08
4
0
09
SOCBs
JSCBs
10
Note: Rate for enterprises.
Majority of banks have set the cap on deposit rate at
11.5%, except for some small JSCBs.
7
Market Watch
Exchange Rate
USDVND & USDTWD
20500
TWDVND(R)
Market Rate (on June 22th)
630
19500
580
18500
530
17500
480
USDVND(L)
430
16500
Offical Rate
18544
Bank Rate
18990
Black Market
18990
01/09 05/09 09/09 01/10 05/10
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. 8
Financial Results
Profit and Loss
YTD May 2010 Results (million VND)
Feb
Mar
Apr
May
YTD
Revenues
16,325
15,986
16,803
16,223
80,851
Expenses
13,961
18,223
18,307
19,125
86,124
2,364
(2,236)
(1,504)
(2,902)
(5,273)
(1,941)
(1,957)
(1,916)
(1,375)
(8,019)
Profit
Budget 2010
Actual / Budget 2010 up to 66% this year to date
Note: For profits.
9
Financial Results
Profit and Loss
Revenues & Expenses
20
Year to Date Result
88 billion VND
billion VND
Expenses
86
18
84
82
16
Revenues
14
80
78
76
12
Feb

Mar
Apr
May
Revenues
Expenses
From monthly or from YTD aspect, expenses is kind
of high, but the profit is better than expected .
10
Financial Results
Gross Premium
Gross Premium (million VND)
Feb
Mar
Apr
May
YTD
Actual 2010
3,596
4,988
6,200
5,489
24,737
Budget 2010
5,881
7,215
7,419
8,063
35,284
Actual 2009
7,088
2,296
3,056
2,394
17,579
Actual / Budget 2010 up to 70% this year to date
Actual 2010 / 2009 up to 141% this year to date
11
Financial Results
Sales Expenses
Sales Expenses (million VND)
Feb
Mar
Apr
May
YTD
Actual 2010
2,904
4,698
5,125
5,709
22,534
Budget 2010
3,957
4,765
4,395
4,165
21,096
Actual 2009
3,265
1,326
4,127
3,105
14,283
Actual / Budget 2010 up to 107% this year to date
Actual 2010 / 2009 up to 158% this year to date
12
Financial Results
Premium and Sales Expenses
Gross Premium
9 billion VND
Premium and Sales Expenses
Budget
7
5
Actual
3
Feb
Mar
Apr
May
Sale Expenses
Actual
7 billion VND
5
3
Budget
1
Feb

Mar
Apr
May
7 billion VND
Premium
6
5
4
3
Sale Expenses
2
1
0
Feb
Mar
Apr
May
Sales expenses hit the budget, whereas premium is
less than expected.
13
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
14
Plans
Finance
Internal Audit follow-up
Revise internal procedures about cash management
Enhance Finance System
1. Cooperate with IT
2. Generating cash reports, detail in monitoring
cash term deposits
Bank Survey
Survey bank services due to demand of business
development
15
Plans
Investment
Enhance Cash Yield
To finding new counterparties for time deposits:
1. Risk assessment report
2. Approval to headquarter
Portfolio Management
1. Seek opportunity to invest in all kind of asset class
2. Keep in contact with market players
Market Watch/Research
1. Keep Following up financial market
2. Monthly topic presentation about investment issue
16
THANK YOU
17