Monthly Report Jun 2012Accounting, Finance, Investment

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Contents

ActivitiesActivities

Market WatchMarket Watch

Investment / Financial ResultsInvestment / Financial Results

PlansPlans

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Investment

Enhance Investment Yield Move money to the highest return assets

Enhance Investment Yield Move money to the highest return assets

Assess Bond Strategies Decide whether to sell the VND110bn bond that will mature in December.

Assess Bond Strategies Decide whether to sell the VND110bn bond that will mature in December.

Visit Mutual Funds Learn about MF’s philosophies to explore alternative ways of equity investment.

Visit Mutual Funds Learn about MF’s philosophies to explore alternative ways of equity investment.

ActivitiesActivities

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Accounting & Finance

Business Trip Reimbursement Trial launched the on-line business trip reimbursement with Training Department

Business Trip Reimbursement Trial launched the on-line business trip reimbursement with Training Department

System Improvement Completed testing on the automatic allocation of the Pre-payment

System Improvement Completed testing on the automatic allocation of the Pre-payment

Expense Review Reviewed the YTD May 2012 expenses as parent company requested.

Expense Review Reviewed the YTD May 2012 expenses as parent company requested.

ActivitiesActivities

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Contents

ActivitiesActivities

Market WatchMarket Watch

Investment / Financial ResultsInvestment / Financial Results

PlansPlans

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Market WatchMarket Watch

NY S&P 500YTD: 4.5%; MTD: 0.6%

Frankfurt DAXYTD: 4.0%; MTD: -2.1% Shanghai SHX

YTD:1.1%; MTD: -6.2%

Taipei TWSEYTD: 1.3%; MTD: -1.9%

HCMC HCMYTD:22.1%; MTD: -0.1%

Financial Market Jun/2012 (As of Jun. 25th)

Hot Issues:1. FED extends its Operation Twist until year end2. Market still worry Euro zone’s debt crisis3. China cut borrowing rate for first time since 2008 because economic growth slows 4. Vietnam stock market cools down somehow due to slower growth rate

Hot Issues:1. FED extends its Operation Twist until year end2. Market still worry Euro zone’s debt crisis3. China cut borrowing rate for first time since 2008 because economic growth slows 4. Vietnam stock market cools down somehow due to slower growth rate

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Economic Growth

Market WatchMarket Watch

1Q12 Year-on-year GDP growth recorded 4%, the weakest since 1Q09.

source: Bloomberg

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Interest Rate & Inflation

Market WatchMarket Watch

Interest Rate (As of Jun. 18th)Interest Rate (As of Jun. 18th)

Note: Rate for institutions.

CPI YOY(%)CPI YOY(%)

Interest rate cap decreases to 9% and SBV said no more rate cut would come until year end.

DD 3M 6 M 12 M

SOCBVND 2.0 9 9 10.5

USD 0.35 0.5 0.5 0.5

JSCBVND 2.0 9 9 11

USD 0.4 0.5 0.5 0.5

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Exchange Rate

Market WatchMarket Watch

VND remains stable under official price at 20,828 but faces depreciation pressure due to increasing demand on USD until year end.

source: Bloomberg

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Contents

ActivitiesActivities

Market WatchMarket Watch

Investment / Financial ResultsInvestment / Financial Results

PlansPlans

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Asset Allocation & Revenue

Investment ResultInvestment Result

Gov. Bonds: Ave. yield 15.0%; Duration 5.0Gov. Bonds: Ave. yield 15.0%; Duration 5.0

USD TD:Weighted rate 1.6%; Tenor: 0.1 USD TD:Weighted rate 1.6%; Tenor: 0.1

VND TD:Weighted rate 13.2%; Tenor: 5.2 VND TD:Weighted rate 13.2%; Tenor: 5.2

Cash/DD:Target amount of 1.5 billionCash/DD:Target amount of 1.5 billion

Gov. Bonds (65.5%) USD TD

(6.8%)

VND TD (27.5%)

Cash / DD (0.2%)

Note: As of Jun 20th.

Bonds account for the highest proportion of our assets.

Weighted average yield is around 13.6%. We gained investment income of 11 billion VND in May.

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YTD May 2012 Results

Financial ResultFinancial Result

Mio VND Feb Mar Apr May YTD

Revenue 16,148 25,267 22,665 23,022 104,785

Expense 17,529 26,800 22,545 24,571 111,878

P & L (1,381) (1,533) 120 (1,549) (7,093)

Budget (3,901) (5,207) (6,673) (3,010) (25,804)

2012 YTD Actual / YTD Budget 27%

2012 YTD Actual / YTD Budget is 27%.

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Gross Premium

Financial ResultFinancial Result

2012 YTD Actual Gross Premium / YTD Budget is 49%. 2012 YTD Actual / 2011 YTD Actual is 91%.

Mio VND Feb Mar Apr May YTM

Actual 5,668 13,862 11,909 12,169 50,144

Budget 16,811 22,600 22,074 23,804 102,238

2011 9,125 11,988 12,941 13,652 54,931

2012 YTD Actual / YTD Budget 49%

Actual 2012 / Actual 2011 91%

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Premiums / Sale exp. (VND bio)

Financial ResultFinancial Result

While YTD actual premium in 2012 is 49% of budget, sales expense is only 43% of budget.

Premium49% budgetPremium49% budget

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Contents

ActivitiesActivities

Market WatchMarket Watch

Investment / Financial ResultsInvestment / Financial Results

PlansPlans

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Investment

Adding New Counterparty Plan to measure new counterparty’s risk and broaden the counterparty base.

Adding New Counterparty Plan to measure new counterparty’s risk and broaden the counterparty base.

Equity Analysis Evaluate some potential stocks to know their intrinsic value.

Equity Analysis Evaluate some potential stocks to know their intrinsic value.

PlansPlans

Macro Forecast Model Update model with June Figures

Macro Forecast Model Update model with June Figures

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Accounting & Finance

External Audit Work with Earnest & Young auditor for the second quarter external audit

External Audit Work with Earnest & Young auditor for the second quarter external audit

Internal Audit Offer information for the internal audit arranged periodically by parent company

Internal Audit Offer information for the internal audit arranged periodically by parent company

System Improvement Start working with IT on the automatic system for investment activities

System Improvement Start working with IT on the automatic system for investment activities

PlansPlans

Thank You