PTM: Explanation for negative profit in QIII- 2009

[dhuyhulr37]

The Precision Tools and CNC Machine JSC explained the negative profits in QIII/ 2009 as follows:

- Due to the global economic crisis, export orders have been canceled, which affected the income in QIII/2009

- Our traditional products are mechanic and machinery, while our main source of income are from local ship building corporation and foreign joint venture companies. During the last period, they have reduced their investment in machinery and mechanic products.

- Aluminum facing panel production line is under major upgrading period until Quarter IV/2009.

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