Century Synthetic Fiber Corporation
Separate financial statements
For the year ended 31 December 2022
Century Synthetic Fiber Corporation
CONTENTS | |
Pages | |
General information | 1 - 2 |
Report of management | 3 |
Independent auditors' report | 4 - 5 |
Separate balance sheet | 6 - 8 |
Separate income statement | 9 |
Separate cash flow statement | 10 - 10 |
Notes to the separate financial statements | 11 - 33 |
Century Synthetic Fiber Corporation
GENERAL INFORMATION (continued)
THE COMPANY
Century Synthetic Fiber Corporation ("the Company") is a shareholding company incorporated under the Law on Enterprise of Vietnam and currently operates based on 20th Amended Enterprise Registration Certificate No. 0302018927 issued by the Department of Planning and Investment of Ho Chi Minh City on 12 November 2022.
The Company listed its shares on the Ho Chi Minh Stock Exchange with trading code STK in accordance with Decision No. 410/QD-SGDHCM issued by the Ho Chi Minh Stock Exchange on 10 September 2015.
The current principal activity of the Company is to manufacture synthetic yarn and knitting.
The Company's registered head office is located at Lot B1-1 North West Cu Chi Industrial Zone, Cu Chi District, Ho Chi Minh City, Vietnam. In addition, the Company has Trang Bang Branch, located at Street No.8, Trang Bang Industrial Zone, Trang Bang Commune, Tay Ninh Province, and one representative office, located at 102-104-106 Bau Cat, Ward 14, Tan Binh District, Ho Chi Minh City, Vietnam.
BOARD OF DIRECTORS
Members of the Board of Directors during the year and at the date of this report are:
Ms Dang My Linh | Chairwomen |
Mr Dang Trieu Hoa | Vice Chairman |
Mr Dang Huong Cuong | Member |
Ms Cao Thi Que Anh | Member |
Mr Chen Che Jen | Member |
Mr Vo Quang Long | Member |
Mr Nguyen Quoc Huong | Member |
BOARD OF SUPERVISION
Members of the Board of Supervision during the year and at the date of this report are:
Mr Nguyen Tu Luc | Head |
Ms Hoang Nu Mong Tuyen | Member |
Ms Dinh Ngoc Hoa | Member |
MANAGEMENT
Members of the management during the year and at the date of this report are:
Mr Dang Trieu Hoa | General Director |
Ms Nguyen Phuong Chi | Chief Strategic Officer |
Mr Phan Nhu Bich | Chief Financial Officer |
LEGAL REPRESENTATIVE
The legal representative of the Company during the year and at the date of this report is Mr Dang Trieu Hoa.
AUDITOR
The auditor of the Company is Ernst & Young Vietnam Limited.
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Century Synthetic Fiber Corporation
REPORT OF MANAGEMENT
Management of Century Synthetic Fiber Corporation ("the Company") is pleased to present this report and the separate financial statements of the Company for the year ended 31 December 2022.
MANAGEMENT'S RESPONSIBILITY IN RESPECT OF THE SEPARATE FINANCIAL STATEMENTS
Management is responsible for the separate financial statements of each financial year which give a true and fair view of the separate financial position of the Company, and of the separate results of its operations and its separate cash flows for the year. In preparing those separate financial statements, management is required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the separate financial statements; and
- prepare the separate financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
Management is responsible for ensuring that proper accounting records are kept which disclose, with reasonable accuracy at any time, the separate financial position of the Company and to ensure that the accounting records comply with the applied accounting system. It is also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Management confirmed that it has complied with the above requirements in preparing the accompanying separate financial statements.
STATEMENT BY MANAGEMENT
Management does hereby state that, in its opinion, the accompanying separate financial statements give a true and fair view of the separate financial position of the Company as at 31 December 2022, and of the separate results of its operations and its separate cash flows for the year then ended in accordance with Vietnamese Accounting Standards, Vietnamese Enterprise Accounting System and the statutory requirements relevant to preparation and presentation of the separate financial statements.
The Company has a subsidiary as disclosed in the separate financial statements. The Company prepared these separate financial statements to meet the prevailing requirements specifically of Circular 96/2020/TT-BTC on disclosure of information in the securities market. In addition, as required, the Company also prepared the consolidated financial statements of the Company and its subsidiary ("the Group") for the year ended 31 December 2022 dated 13 March 2023.
Users of the separate financial statements should read them together with the said consolidated financial statements to obtain full information on the consolidated financial position, consolidated results of operations and consolidated cash flows of the Group.
For and on behalf of the management:
Dang Trieu Hoa
General Director
Ho Chi Minh City, Vietnam
13 March 2023
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Reference: 11659174/22990398
INDEPENDENT AUDITORS' REPORT
To: | The Shareholders of Century Synthetic Fiber Corporation |
We have audited the accompanying separate financial statements of Century Synthetic Fiber Corporation ("the Company"), as prepared on 13 March 2023 and set out on pages 5 to 33, which comprise the separate balance sheet as at 31 December 2022, and the separate income statement and the separate cash flow statement for the year then ended and the notes thereto.
Management's responsibility
Management is responsible for the preparation and fair presentation of these separate financial statements in accordance with Vietnamese Accounting Standards, Vietnamese Enterprise Accounting System and the statutory requirements relevant to preparation and presentation of the separate financial statements, and for such internal control as management determines is necessary to enable the preparation and presentation of the separate financial statements that are free from material misstatement, whether due to fraud or error.
Auditors' responsibility
Our responsibility is to express an opinion on these separate financial statements based on our audit. We conducted our audit in accordance with Vietnamese Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the separate financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the separate financial statements. The procedures selected depend on the auditors' judgment, including the assessment of the risks of material misstatement of the separate financial statements, whether due to fraud or error. In making those risk assessments, the auditors consider internal control relevant to the Company's preparation and fair presentation of the separate financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the separate financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
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Century Synthetic Fiber Corporation published this content on 16 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 March 2023 02:22:01 UTC.