1. 1 MONTHLY REPORT MAY, 2009 Accounting, Finance and Investment

2. 2 Outline I.This month activities and Achievements II. Up date Market news III.Next month project

3. 3 This month activities and Achievements 1.Monthly report : -Profit and Lost -VAT, PIT, Withholding tax report 2. Tax Code Registration for Da Nang Office 3. Testing system, preparing for premium collection at Sacombank I. Accounting and Finance

4. 4 II. Investment 1) 1)Following up international and domestic bond market, including key economic indicators and bond trading activities. 2) 2)Prepared English-version business plan for applying the fund management company. 3) 3)Prepared request letter for switching custodian bank. This month activities and Achievements

5. 5 Apr Apr 2009 financial income Trend of revenue and expense from Jan 09 to Apr 2009 ( mil VND)

6. 6 Expense performance ( mil VND) Administration expense Sale expense

7. 7 Update news PROPOSAL PERSONAL INCOME TAX * From Jan to June 2009 : exempt tax * From July to December 2009 : 2 difference proposals 1.Decrease VND200,000/month 2.Apply as normal

8. 8 II. Vietnam News 1.CPI edged up in 2 consecutive months CPI increased 0.44% MOM and 5.58% YOY Vietnam CPI

9. 9 2. Trade balance. -Exports in May decreased by 12% MOM or 7% YOY to $ 22.8 bn -While imports slipped 6% MOM or 37% YOY to $23.99 bn  Vietnam swung into deficit first time of years to $1.12 bn II. Vietnam News Trade balance by monthly in 2009 Imp – Exp YOY

10. 10 3. Industrial production: increased gradually but still much lower than that of last year: II. Vietnam News - -VND 56.6 trillion,  6.8% MoM or  4% YoY (much lower compared to YoY growth of 16 % in last year)

11. 11 II. Vietnam News 4. Money market remained unstable month with the gradually increasing of deposit rate at commercial banks:   Deposit rate for VND increased softly from 0.5 – 1.5% pa and stand around 8.5% - 9% pa   Deposit rates in USD reduced by 0.5-0.7% pa: The average mobilizing rate is quoted as follows (source: SBV): The average mobilizing rateCurrency Demand3 months6 months12 months (% p.a) Group of state- owned commercial banks VND2.887.307.507.85 USD0.361.241.541.92 Group of joint-stock commercial banks VND2.877.687.878.12 USD0.501.782.052.40

12. 12 II. Vietnam News   Exchange rate: -Selling price 17,785-17,788 - buying price was lower than selling price from 2-3 VND/USD. Increase 5% official rate Widening trading band to 5%

13. 13 PROJECT NEXT MONTH  Implement budget in the system  Work with each departments in budget control  Prepare accounting closing for Q2 2009 and Financial Statement audited  Following up international and domestic bond market, including key economic indicators and bond trading activities.  Prepared English-version business plan for applying the fund management company  Prepared request letter for switching custodian bank.

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