Thien Viet Securities Joint Stock Company

Interim separate financial statements 30 September 2018

GENERAL INFORMATION THE COMPANY ( the Company ) is incorporated under the Law on Enterprises of Vietnam pursuant to Business Registration Certificate No. 0103014996 issued by the Ha Noi Department of Planning and Investment on 13 December 2006. The Company subsequently received Securities Operating License No.36/UBCK-GPHDKD issued by the State Securities Commission on 25 December 2006 and the following amended licenses: The amended Securities Operating License No. Date granted Amendments 36/UBCK-GPHDKD 25/12/2006 First issuance 67/UBCK-GP 24/08/2007 Increase the charter capital from 43,000,000,000 to 86,000,000,000 92/UBCK-GPDCCTCK 05/12/2007 Increase the charter capital from 86,000,000,000 to 430,000,000,000 115/GPDC-UBCK 03/12/2012 Change the head office s address 38/GPDC-UBCK 27/08/2015 Increase the charter capital from 430,000,000,000 to 476,438,880,000 32/GPDC-UBCK 05/09/2016 Increase the charter capital from 476,438,880,000 to 520,005,060,000 44/GPDC-UBCK 12/12/2016 Increase the charter capital from 520,005,060,000 to 534,295,060,000 42/GPDC-UBCK 29/08/2017 Increase the charter capital from 534,295,060,000 to 578,710,410,000 64/GPDC-UBCK 29/09/2018 Increase the charter capital from 578,710,410,000 to 635,023,750,000 The Company s primary activities are to provide brokerage service, securities trading, finance and investment advisory service, custodian service and underwriting for securities issues. The Company has its head office located at 22 Lang Ha Street, Dong Da District, Ha Noi and has one (1) branch (Ho Chi Minh City Branch) as at 30 September 2018. Main features of operation of the Company Capital size According to the separate statement of financial position as at 30 September 2018, the Company s charter capital amounted to 635,023,750,000 while its owners equity was 828,268,375,037 and its total assets were 2,608,020,786,564. Investment target The Company s aims are to contribute to the development of the securities market and bring benefits to its customers, investors and shareholders. Investment restrictions The Company complies with regulations on investment restrictions in accordance with Article 44, Circular No. 210/2012/TT-BTC dated 30 November 2012 promulgating the establishment and operation of securities companies and Circular No. 07/2016/TT-BTC dated 18 January 2016 amending and supplementing certain articles of Circular No. 210/2012/TT-BTC. 1

GENERAL INFORMATION (continued) BOARD OF DIRECTORS Members of the Board of Directors during the period and at the date of these separate financial statements are as follows: Name Title Date of appointment Mr. Nguyen Trung Ha Chairman 1 April 2014 Ms. Dinh Thi Hoa Deputy Chairman 1 April 2014 Mr. Nguyen Nam Son Member 1 April 2014 Ms. Nguyen Thanh Thao Member 1 April 2014 Mr. Pham Ngoc Quynh Member 1 April 2014 Ms. Bui Thi Kim Oanh Member 1 April 2014 Mr. Phan Thanh Dien Member 1 April 2014 BOARD OF SUPERVISION Members of the Board of Supervision during the period and at the date of these separate financial statements are as follows: Name Title Date of appointment Mr. Do Viet Hung Head 1 April 2014 Ms. Tran Thi Hong Nhung Member 1 April 2014 Ms. Van Thi Lan Huong Member 1 April 2014 GENERAL DIRECTOR The General Director of the Company during the period and at the date of these separate financial statements is Ms. Nguyen Thanh Thao, appointed on 8 March 2013. LEGAL REPRESENTATIVE The legal representative of the Company during the period and at the date of these separate financial statements is Mr. Nguyen Trung Ha, the Chairman. Ms. Nguyen Thanh Thao is authorized by Mr. Nguyen Trung Ha to sign the accompanying separate financial statements for the year ended 30 September 2018 in accordance with the Letter of Authorization No 03-13/UQ-HDQT dated 5 April 2013. 2

REPORT OF THE GENERAL DIRECTOR The General Director of ("the Company") is pleased to present this report and the Company's separate financial statements for the three-month period ended 30 September 2018. THE GENERAL DIRECTOR'S RESPONSIBILITY IN RESPECT OF THE SEPARATE FINANCIAL STATEMENTS The General Director is responsible for the separate financial statements of each financial year that give a true and fair view of the separate financial position of the Company and of the separate results of its operation, its separate cash flows and its separate changes in owners' equity for the year. In preparing those separate financial statements, the General Director is required to: ~ select suitable accounting policies and apply them consistently; make judgments 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. The General Director is responsible for ensuring that proper accounting records are kept to disclose, with reasonable accuracy at any time, the separate financial position of the Company and to ensure that the accounting records comply with the registered accounting system. She is also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of frauds and other irregularities. The General Director confirmed that she has complied with the above requirements in preparing the accompanying separate financial statements as at and for the three-month period ended 30 September 2018. STATEMENT BY THE GENERAL DIRECTOR The General Director does hereby state that, in her opinion, the accompanying separate financial statements give a true and fair view of the separate financial position of the Company as at 30 September 2018 and of the separate results of its operations, its separate cash flows and its separate changes in owners' equity for the year then ended in accordance with Vietnamese Accounting Standards, Vietnamese Enterprise Accounting System, accounting guidance applicable to securities compa. tory requirements relevant to preparation and presentation of separate financial 96'(1 stat ~T"'_. -_ ~-y CONG TY ',-: t;f PH CO AN ~ UNG KHOAN * T Hanoi, Vietnam 19 October 2018 3

SEPARATE STATEMENT OF FINANCIAL POSITION as at 30 September 2018 B01a-CTCK Code ITEMS Notes 30 September 2018 31 December 2017 100 A. CURRENT ASSETS 2,556,200,580,856 1,542,705,708,793 110 I. Financial assets 2,555,248,562,785 1,541,930,914,968 111 1. Cash and cash equivalents 4 34,940,819,162 9,491,945,272 111.1 1.1 Cash 16,940,819,162 9,491,945,272 111.2 1.2 Cash equivalents 18,000,000,000-112 2. Financial assets at fair value through profit and loss (FVTPL) 6.1 386,438,199,589 382,399,148,740 113 3. Held-to-maturity investments (HTM) 6.3 1,811,813,628,690 926,550,000,000 114 4. Loans 6.4 169,033,523,338 155,698,810,546 115 5. Available-for-sale financial assets (AFS) 6.2 36,911,658,872 12,058,258,872 116 6. Provision for impairment of financial assets and mortgage assets 6.5 (2,934,808,718) (2,934,808,718) 117 7. Receivables 7 63,684,634,435 36,763,989,867 117.1 7.1 Receivables from disposal of financial assets 150,898,000 485,000,000 117.2 7.2 Receivables and accruals from dividend and interest income 63,533,736,435 36,278,989,867 118 8. Advances to suppliers 8 55,058,225,000 20,026,940,000 119 9. Receivables from services provided by the Company 224,451,530 1,778,714,202 122 10. Other receivables 9 78,230,887 97,916,187 130 II. Other current assets 952,018,072 774,793,825 131 1. Advances 63,538,462 23,688,462 133 2. Short-term prepaid expenses 10 888,479,610 751,105,363 200 B. NON-CURRENT ASSETS 51,820,205,708 52,823,666,110 210 I. Long-term financial assets 36,704,000,000 36,704,000,000 212 1. Investments 6.6 36,704,000,000 36,704,000,000 212.2 1.1. Investments in subsidiary 36,704,000,000 36,704,000,000 220 II. Fixed assets 6,550,660,599 7,867,286,360 221 1. Tangible fixed assets 11 3,649,133,468 4,133,054,866 222 1.1 Cost 19,153,435,647 18,601,562,857 223a 1.2 Accumulated depreciation (15,504,302,179) (14,468,507,991) 227 2. Intangible fixed assets 12 2,901,527,131 3,734,231,494 228 2.1 Cost 12,133,276,309 12,133,276,309 229a 2.2 Accumulated amortization (9,231,749,178) (8,399,044,815) 250 IV. Other long-term assets 8,565,545,109 8,252,379,750 251 1. Long-term deposits, collaterals and pledges 13 1,062,565,500 1,062,175,500 252 2. Long-term prepaid expenses 10 879,807,337 782,258,272 253 3. Deferred income tax assets 14 2,136,564,460 2,136,564,460 254 4. Deposits to Settlement Assistance Fund 15 4,486,607,812 4,271,381,518 270 TOTAL ASSETS 2,608,020,786,564 1,595,529,374,903 4

SEPARATE STATEMENT OF FINANCIAL POSITION (continued) as at 30 September 2018 B01a-CTCK Code ITEMS Notes 30 September 2018 31 December 2017 300 C. LIABILITIES 1,779,752,411,527 867,984,143,290 310 I. Current liabilities 1,596,972,909,700 855,556,813,963 311 1. Short-term borrowings and financial leases 18 1,596,972,909,700 802,221,000,000 312 1.1 Short-term borrowings 1,533,241,000,000 802,221,000,000 318 2. Payables for securities trading activities 16 141,287,154 307,025,126 320 3. Short-term trade payables 17 68,139,783 18,875,804,175 322 4. Statutory obligations 19 23,686,718,175 18,416,241,248 323 5. Payables to employees 58,203,101 5,298,219,599 324 6. Deductions for employee s benefit 17,346,600-325 7. Short-term accrued expenses 21 22,565,776,800 3,790,739,445 329 8. Other liabilities 22 1,556,145,472 1,424,380,396 331 9. Bonus and welfare fund 23 15,638,292,615 5,223,403,974 340 II. Non-current liabilities 182,779,501,827 12,427,329,327 341 1. Long-term borrowings and financial leases 175,000,000,000-342 1.1 Long-term borrowings 18 175,000,000,000-356 2. Deferred income tax payable 14 7,779,501,827 12,427,329,327 400 D. OWNERS EQUITY 828,268,375,037 727,545,231,613 410 I. Owners equity 828,268,375,037 727,545,231,613 411 1. Share capital 636,300,714,300 546,068,600,800 411.1 1.1 Contributed capital 635,023,750,000 578,710,410,000 411.1a 1.1.1 Ordinary shares 635,023,750,000 578,710,410,000 411.2 1.2 Share premium 14,120,765,418 1,089,741,383 411.5 1.3 Treasury shares (12,843,801,118) (33,731,550,583) 414 2. Charter capital supplementary reserve 1,057,904,526 6,686,624,526 415 3. Operational risk and financial reserve 29,623,334,526 29,623,334,526 417 4. Undistributed profit 23.2 161,286,421,685 145,166,671,761 417.1 a. Realized profit 122,388,912,555 95,457,354,452 417.2 b. Unrealized profit 38,897,509,131 49,709,317,309 440 TOTAL LIABILITIES AND OWNERS EQUITY 2,608,020,786,564 1,595,529,374,903 5

SEPARATE STATEMENT OF FINANCIAL POSITION (continued) as at 30 September 2018 B01a-CTCK SEPARATE OFF-BALANCE SHEET ITEMS Code ITEMS Notes 30 September 2018 31 December 2017 A. ASSETS OF THE COMPANY AND ASSETS MANAGED UNDER AGREEMENTS 004 1. Bad debt written off 24.1 38,032,022,388 38,032,022,388 005 2. Foreign currencies 24.2 643,887,091 2,691,216,466 006 3. Outstanding shares (*) 24.3 61,952,375 53,800,291 007 4. Treasury shares (*) 24.4 1,550,000 4,070,750 008 5. Financial assets listed/registered for trading at Vietnam Securities Depository of the Company () 24.5 167,024,780,000 143,198,500,000 009 6. Non-traded financial assets deposited at Vietnam Securities Depository of the Company () 24.6 2,530,000 30,002,530,000 010 7. Awaiting financial assets of the Company () 24.7-1,000,000,000 012 8. Financial assets which have not been deposited at Vietnam Securities Depository of the Company () 24.8 42,684,040,000 9,198,700,000 013 9. Entitled financial assets of the Company () 24.9 208,920,000 400,000,000 (*) Balances of these accounts represent the quantity of securities. 6

SEPARATE STATEMENT OF FINANCIAL POSITION (continued) as at 30 September 2018 B01a-CTCK SEPARATE OFF-BALANCE SHEET ITEMS (continued) Code ITEMS Notes 30 September 2018 31 December 2017 B. ASSETS AND PAYABLES UNDER AGREEMENT WITH INVESTORS 021 1. Financial assets listed/registered at VSD of investors 24.10 1,012,555,430,000 979,097,190,000 021.1 a. Unrestricted financial assets 918,448,900,000 884,137,090,000 021.2 b. Restricted financial assets 1,673,000,000 3,230,500,000 021.3 c. Mortgaged financial assets 79,200,000,000 79,200,000,000 021.4 d. Blocked financial assets - - 021.5 e. Financial assets awaiting settlement 13,233,530,000 12,529,600,000 022 2. Non-traded financial assets deposited at VSD of investors 24.11 9,613,620,000 34,985,650,000 022.1 a. Unrestricted and non-traded financial assets deposited at VSD 9,613,620,000 34,985,650,000 023 3. Awaiting financial assets of investors 24.12 18,513,400,000 29,631,200,000 025 4. Entitled financial assets of investors 24.13 8,813,290,000 405,020,000 7

Thien Viet Securities Joint Stock Company SEPARATE STATEMENT as at 30 September 2018 OF FINANCIAL POSITION (continued) B01a-CTCK SEPARATE OFF-BALANCE SHEET ITEMS (continued) Code ITEMS Notes B. ASSETS AND PAYABLES UNDER AGREEMENT WITH INVESTORS (continued) 026 5. Investors'deposits 24.14 146,355,469,396 104,916,932,948 027 5.1 Investors' deposits for securities trading activities 146,344,896,776 104,910,816,409 029 5.2 Investors' deposits for clearing and settlement securities transactions 10,572,620 6,116,539 029.1 a. Domestic investors' deposits for clearing and settlement securities transactions 10,163,200 5,707,897 029.2 b. Foreign investors' deposits for clearing and settlement securities transactions 409,420 408,642 031 6. Payables to investors - investors' deposits for securities trading activities managed by the Company 24.15 146,355,469,396 104,916,932,948 031.1 6.1 Payables to investors - domestic investors' deposits for securities trading activities managed by the Company 146,136,283,407 104,771,676,324 031.2 6.2 Payables to investors - foreign investors' deposits for securities trading activities managed by the Company 219,185,989 145,256,624 035 7. Dividend, bond principle and interest payables 24.16 1,537,158,235 1,409,021,095 Ms. Ha Thanh Hoa Preparer Mr. Le Quang Tien Chief Accountant Hanoi, Vietnam 19 October 2018 8

SEPARATE INCOME STATEMENT for the three-month period ended 30 September 2018 B02a-CTCK Code ITEMS Notes The quarter period ended 30 September 2018 The quarter period ended 30 September 2017 Accrued from 1 January 2018 to 30 September 2018 Accrued from 1 January 2017 to 30 September 2017 I. OPERATING INCOME 01 1. Gain from financial assets at fair value through profit and loss (FVTPL) 62,531,338,203 27,320,980,310 182,059,283,955 202,390,630,752 01.1 1.1 Gain from disposal of financial assets at FVTPL 25.1 3,156,889,511 18,022,219,516 101,183,419,579 103,180,518,833 01.2 1.2 Gain from revaluation of financial assets at FVTPL 25.2 56,408,200,692 4,675,063,594 75,398,015,876 87,588,898,869 01.3 1.3 Dividend, interest income from financial assets at FVTPL 25.3 2,966,248,000 4,623,697,200 5,477,848,500 11,621,213,050 02 2. Gain from held-to-maturity (HTM) investments 25.3 33,107,323,031 18,808,173,333 86,004,808,907 52,011,352,779 03 3. Gain from loans and receivables 25.3 3,902,393,698 2,969,752,116 13,595,934,468 8,428,774,007 06 4. Revenue from brokerage services 25.4 3,609,515,771 2,399,199,102 14,504,013,823 6,479,184,526 09 5. Revenue from securities custody services 25.4 120,327,740 111,329,703 361,272,169 335,321,316 10 6. Revenue from financial advisory services 25.4-232,727,273 29,000,590,909 232,727,273 20 Total operating revenue 103,270,898,443 51,842,161,837 325,525,904,231 269,877,990,653 II. OPERATING EXPENSES 21 1. Loss from financial assets at FVTPL (13,393,671,653) (16,123,500,652) (106,570,981,533) (75,675,190,698) 21.1 1.1 Loss from disposal of financial assets at FVTPL 25.1 (1,371,692,539) (1,037,749,379) (7,855,476,581) (19,400,318,389) 21.2 1.2. Loss from revaluation of financial assets at FVTPL 25.2 (12,001,217,255) (15,045,553,028) (98,637,153,381) (56,092,574,579) 21.3 1.3. Transaction costs for acquisition of financial assets at FVTPL (20,761,859) (40,198,245) (78,351,571) (182,297,730) 22 2. Loss from HTM (93,046,926) - (166,371,310) - 9

SEPARATE INCOME STATEMENT (continued) for the three-month period ended 30 September 2018 B02a-CTCK Code ITEMS Notes The quarter period ended 30 September 2018 The quarter period ended 30 September 2017 Accrued from 1 January 2018 to 30 September 2018 Accrued from 1 January 2017 to 30 September 2017 24 3. Provision expenses for impairment of financial assets, loss from doubtful - - - (4,503,052,468) receivables and borrowing costs of loans 26 4. Expenses for proprietary trading activities (1,674,502,967) (2,000,941,040) (5,287,760,226) (5,449,998,787) 27 5. Expenses for brokerage services 27 (2,410,225,876) (2,729,006,794) (8,471,889,792) (7,884,970,662) 30 6. Expenses for securities custodian services 27 (117,941,999) (110,715,126) (323,449,795) (333,580,374) 31 7. Expenses for advisory services 27 (1,672,516,162) (1,757,488,890) (6,463,932,526) (5,968,756,061) 32 8. Expenses for other activities (12,678,865) (22,044,353) (48,347,198) (54,562,463) 40 Total operating expenses (19,374,584,448) (22,743,696,855) (127,332,732,380) (99,870,111,513) III. FINANCE INCOME 41 1. Realized and unrealized gain from changes in foreign exchange rates 3,287,427 11,852 33,407,972 4,115,583 42 2. Non-fixed dividend and interest income 283,359,126 241,147,831 13,031,542,623 6,942,915,320 50 Total finance income 26 286,646,553 241,159,683 13,064,950,595 6,947,030,903 IV. FINANCE EXPENSES 51 1. Realized and unrealized foreign exchange loss - (25,071) (518,364) (15,985,491) 52 2. Interest expense (25,403,557,460) (13,991,673,525) (65,777,226,642) (34,189,035,041) 60 Total finance expenses 28 (25,403,557,460) (13,991,698,596) (65,777,745,006) (34,205,020,532) 62 V. GENERAL AND ADMINISTRATIVE EXPENSES 30 (3,542,745,542) (4,171,579,659) (11,192,093,049) (12,572,965,773) 70 VI. OPERATING PROFIT 55,236,657,546 11,176,346,410 134,288,284,391 130,176,923,738 10

~ ca;... a 0'>.-.. 00 o N 0 00 N NO' 00 ("')t--... II) <00'> N N I- CO.Q... z O'>N N NO ::;'E ::::"... 'O;f'~..-N 'O;f'~ 'O;f'~ U c: N -N rii ai..,f O~ 00 J... - N c0cx5...... ca;~a J 0'... <0.-.. in.-.. '-"0 (0 (0 0 'O;f' ' l{) l{)o (0 (0.Qo~ ~ e M GOO t--l{)...... - l{) c:en..;... <0 - N t--- -t-- M M coj:l... 00 GON 00 00 "-")0.. N 'O;f'("') 0 NGO ~ oo~... m CIO~ -..- 'O;f' N - t-- - -t-- cd...... E(/) 00 NO'> ' '...... N l{)("')... N<o q, O~ eg..; -N N 0'> - t-- - M r-:'... ~O M l{)("')...... "0........-~ ~ ~... mc() 2... (.)0 (.)N <:( CO coj:l NO'>... 0 t--n... 0 0 N "-")0.. (",)'O;f' 'O;f' 'O;f' 0("') 0 t--n II) II) 0... m -GO en 0'>0'> GO - an N cd cd...~ i,..; CO GON II) N' - M ("')0'> II) E~..-("') en... <0_ ' _... _ <0..- M M -N _gc")..; an.....-<0 l{)... ("')..-...~ t---... r-:...~ M 0("')...... "0.8.....- z,..-... m... 2... (.)0 (.)N «15a;~a J 0 0 '.-.. a;- mo...... 0... ' ' 00 00 'c:.q ~ 0 'O;f' GO("') N NO (0 (0 men -'... t--o ci 0 cd l{) - o..m an r-:cx5 0 0... 0 'O;f' (",)0'> en en GOGO II) 0 0 M NN...... ~ar 0- o~ cd -' II) <00'> <0 - en..,f..,f cd cd co(/) 0... ' o...... ::;'0 0 0 l{)t-- en GO..- M M t:rc")..,f..; an - ("').....-<0 l{) - 0 0 m"o... _ NO..- ~ ~'-'...... ~~ c: m c m_ -... J.-.. 15a;~a :... ot-- CD mr::-.......- c e?- M 0("') en en I-co 'c:.q ~ II)..-' '..-N 'O;f' 'O;f' 0)- men 0 N_ GO_ C c r-:..,fc0 o 0 0..J:l r-: l{)..- co ::l II) t--go...... ::l 0... 0.. (0 <0_.0'>_ 00 GO 0 'O;f' 'O;f' 08 ~m... <Ol{) cd 0'><0..;..,f co(/) N No) m«m NO II) 00 00 ::;'0 N GO' t--t--...j... 00 00 M l{)t-- m t:rc") an ~~ e an...:r-: II)~ _... ~:.c II) m"o 'O;f' 'O;f' :!!u ~~ c: m >- e C/) ro J:l en......-:<'-! c.. 0 N M... GO ("')("') E... <: 0 0 N m o.-.. "Om... w i=.::t::. m.o m Q. w E E Z o ::i: w 0 0 --.- m a.. +-' c a. ~ >< - o (f) o <ll I- Z ~U) W W +-' C '5 ~ w e 1-0 ::i: <ll Z("') Z... I- <lltil 0 >< > 0 w"o (/) «Q. til C w o «c;; J :!!<ll c <ll C) I- ~ w Z co w-g 0:::... Z <lla. 0::: w 0 EGO U) ::i: til 0 1+= a.x I ~ W x m W ::I: co... <l> 0 <lltil ~-g e LL... mi- I-m l- W. : ZO ~ o E c W e a. Q) 1-- LL 0::: c N C U).;:: Z 0 m Q. OJ 0."0 ~w -u «e, co a. ]1Qj "O~ U"O s: :J w<ll o X 0 I- 0m I- ::i: I-... >.0 U :!!o. 0:::.~ m... u:::: m.- a..z -m _0 W...... Q).!:::! (ij c... u:::: 0 ~ co ~ <l> '0 U O 0 o:::w <ll... co ::I: <ll<ll s: -<ll...<ll 0 o I (f) s: s: U6 0::: co...... a. co I- 0 <llc O~ ::l <ll 0:::..J -- en ~ ZE 0 00 a.. 0:::::> UW UO c, COO'> s - +-' <l> -cb iii ~ :!!o.. I..- w <ll s 0 0 1-... ""':N l- S; """:N ~ ""':N >< I- e ~ f5 '""":C"\!.~ «<ll... N 0 0..-N 0 0 0 0.. 0 00 0 0.c 0 t--t-- 00 en 0'>0'> w... 00 o... N 'O;f'.....- f- U).E I-<ll m.. :t:::o

SEPARATE CASH FLOW STATEMENT for the nine-month period ended 30 September 2018 B03b-CTCK Code ITEMS Notes For the nine-month period ended 30 September 2018 For the nine-month period ended 30 September 2017 I. CASH FLOWS FROM OPERATING ACTIVITIES 01 1. Net profit before tax 134,288,284,341 135,132,402,450 02 2. Adjustments for: (8,288,011,242) (5,900,465,047) 03 - Depreciation and amortization 1,868,498,551 1,735,111,355 06 - Interest expenses 65,777,226,642 34,189,035,041 07 - Gain from investment activities (12,400,000,000) (6,300,000,000) 08 - Accrued interest income (63,533,736,435) (35,524,611,443) 10 3. Increase in non-monetary expenses 98,637,153,381 55,431,375,646 11 - Loss from revaluation of financial assets at FVTPL 98,637,153,381 56,092,574,579 13 - Loss from impairment of loans - (661,198,933) 18 4. Decrease in non-monetary income (75,398,015,876) (129,342,350,245) 19 - Gain from revaluation of financial assets at FVTPL (75,398,015,876) (87,588,898,869) 21 - Other income - (41,753,451,376) 30 5. Operating expense before changes in working capital (1,041,912,949,963) (289,622,257,277) 31 - Decrease/(increase) in financial assets at FVTPL (27,278,188,353) 122,919,552,784 32 - Increase in HTM investments (885,263,628,690) (327,050,000,000) 33 - Increase in loans (13,334,712,792) (6,258,062,609) 34 - Increase in AFS financial assets (24,853,400,000) - 35 - Decrease/(increase) in receivables from sale of financial assets 334,102,000 16,814,569,700 36 - Decrease in receivables of dividend and accrued interests of financial assets 36,278,989,867 21,650,903,354 37 - (Increase)/decrease in receivables from services provided by the Company 1,554,262,672 (30,980,007) 39 - Decrease/(increase) in other receivables (35,011,599,700) 11,465,682,938 40 - Decrease/(increase) in other assets (255,076,294) 153,946,653 41 - (Decrease)/increase in accrued expenses (excluding interest expense) (60,000,000) (182,839,518) 42 - Decrease in prepaid expenses (234,923,312) (696,658,117) 43 - Corporate income tax paid 19 (20,293,786,528) (11,521,141,430) 44 - Interest expense paid (46,942,189,287) (32,347,302,183) 45 - (Decrease)/increase in trade payables (18,807,664,392) (94,186,925,697) 46 - Increase the deductions for employees benefit 17,346,600-47 - Decrease in taxes and statutory obligation payables (excluding CIT paid) (2,359,965,220) (3,164,748,753) 48 - Increase/(decrease) in payables to employees (5,240,016,498) (4,882,288,346) 50 - Increase/(decrease) in other payables (162,110,036) (78,523,593) 51 - Other receipts for operating activities - 17,615,510,360 52 - Other payments for operating activities (390,000) - 60 Net cash used in operating activities (892,673,539,359) (234,301,294,474) 12

SEPARATE CASH FLOW STATEMENT (continued) for the nine-month period ended 30 September 2018 B03b-CTCK Code ITEMS Notes For the nine-month period ended 30 September 2018 For the nine-month period ended 30 September 2017 II. CASH FLOWS FROM INVESTING ACTIVITIES 61 Purchase and construction of fixed assets, investment properties and other long-term assets 11,12 (551,872,790) (1,431,939,200) 62 Proceeds from disposal on fixed assets, investment properties and other long-term assets - 100,000,000 65 Interest and dividends from long-term investments received 12,400,000,000 6,200,000,000 70 Net cash from investing activities 11,848,127,210 4,868,060,800 III. CASH FLOWS FROM FINANCING ACTIVITIES 71 Cash receipt from issuance of bonds, capital contributed from shareholders 33,918,773,500-73 Drawdown of borrowings 18 5,483,994,660,000 3,610,774,816,365 74 Repayment of borrowings 18 (4,577,974,660,000) (3,358,947,816,365) 76 Profit distributed to shareholders (33,664,487,460) (29,496,999,880) 80 Net cash from financing activities 906,274,286,040 222,330,000,120 90 NET DECREASE IN CASH DURING THE YEAR 25,448,873,891 (7,103,233,554) 101 CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR 4 9,491,945,272 14,990,614,121 101.1 Cash 9,491,945,272 14,990,614,121 103 CASH AND CASH EQUIVALENT AT THE END OF THE YEAR 4 34,940,819,162 7,887,380,567 103.1 Cash 16,940,819,162 7,887,380,567 103.2 Cash equivalent 18,000,000,000-13

SEPARATE CASH FLOW STATEMENT (continued) for the nine-month period ended 30 September 2018 B03b-CTCK CASH FLOWS FROM BROKERAGE AND TRUST ACTIVITIES OF THE CUSTOMERS For the nine-month For the nine-month period ended 30 period ended 30 September 2018 September 2017 Code ITEMS Notes I. Cash flows from brokerage and trust activities of the customers 01 1. Cash receipts from sale of securities on behalf of customers 614,703,560,600 445,227,935,300 02 2. Cash payments for acquisition of securities on behalf of customers (530,676,843,000) (362,893,773,500) 07 3. Cash receipts for settlement of securities transactions of customers 1,332,540,111,406 892,074,380,277 08 4. Cash payments for settlement of securities transactions of customers (1,428,094,712,244) (938,830,044,173) 11 5. Cash payments for custodian fees of customers (358,957,394) (344,359,022) 14 6. Cash receipts from securities issuers 62,301,377,080 54,672,643,820 15 7. Cash payments to securities issuers (8,976,000,000) (9,348,146,000) 20 Net increasein cash during the period 41,438,536,448 80,558,636,702 30 II. Cash and cash equivalents of the customers at the beginning of the year 4 104,916,932,948 59,764,940,474 31 Cash at banks at the beginning of the year: 104,916,932,948 59,764,940,474 32 - Investors' deposits managed by the Company for securities trading activities 104,910,816,409 59,758,999,483 34 - Deposits for clearing and settlement of securities transaction 6,116,539 5,940,991 40 III. Cash and cash equivalents of the customers at the end of the period 4 146,355,469,396 140,323,577,176 41 Cash at banks at the end of the period: 146,355,469,396 140,323,577,176 42 - Investors' deposits managed by the Company for securities trading activities 146,344,896,776 140,317,465,274 44 - Deposits for clearing and settlement of securities transaction 10,572,620 6,111,902 Ms. Ha Thanh Hoa Preparer Mr. Le Quang Tien Chief Accountant Hanoi, Vietnam 19 October 2018 14

~ 5 >- 0 c:: UJ co o, en 0:: E UJco z"'" 0 o S~ ~ z.o Cii U -E 0 C/)Q) +-' (J) UJe. (DQ) c:: «0 +-' ZC/) IM 0 ()-c J u_q) C/) 0"2 Q) I-Q) :,.j:j z-c 'L: UJ.Q ::J ~Cii () UJOo Q) I-.r; (J) ;::~ +-' Q) :> c:: C/)E UJI I-~ C2 'c.~..c:: «0... Q) UJ... I- we Os o 0...co N N co 1.0 (') M COQ ooco~ <D <D 1.0...... ('()o«t... co ~.... -.r-- co <D, 1.0 -e- 0, «t' N- «to", «t... O> iii ~L()C'O~ 0 ('() N... 0... ~ r--r--r--0 0>, ('() «t 0) 0 ',,CO c-r) '" M (') o('()o ' r-- <D' CO- r-..- «j Q) ONN('() io N CO CO 0) ~ o ('(),O,...,dS 0, <D, N, (') CO N c:: N- CO- rti ('()('()...N N <D N (') N.!l! <D '" «t '..- 0>..- CO COCO!:....... CO.Q 0> r-..q OO('()~ <D <D..-... 0 M OOCO('() 0 0..- N 0) N S OS COO(,()CO (I) N N..- CO N M,,,'".Q 00..- ' 0 0 ed...- ~-... 0 0..-«t0 CO 0> CO to II) ~ <D«tr--'"..- CO r--, "<t- (').., 0 (') COCo> ' N <O..,...CO~ r--..- 0>, -,r--,,,'" m LO CO- CO- ~- '" 0) 0) II) "'''' e Q)Q io I I I ~... I <D '" <D 0"..- id ~S «t «t 0 '<t... N ~... ~ m m (.) '<t «t 0 c-r) (')- ri Q) r-- r-- N ('() (') 0 Q r--..-...... r-: r-: N- M- Or--O('() «t, «t, <D... "<t- «!. <DCO..- '..- «t m CO-...-... «tr-- ('() N... CO (')..- ~ CO CO cci N "0 CO CO N 0> 0) M.g <D, CO CO ~ 0 0 '<to "<t-- 0-) Q) N N!!?- Q. ~ ~ t:.. 1: Q)Q '" 0 io I I I <D "<t-r"... ('()O('() <D 0 ~S 000..- ~ r-, N ~ ~ t,o..f c-r)...-... CO-... O o «tn CO.., ('()('()o.s ~ to 0) 0 N Q;' (')- ~('()'''''':..- CO...- fsi (I)..- ('()..- N II)... CO (,()MO 0, CO CO M ~ medc-r)..-...- 0-0 o <D"'..-..- N CO Q)..-... ~... ~ co CiY Q)Q I I I I I I 'ai 0" ~S (I) 0 ('() (') M CO N N ~ ~ 0 N- N- (.) (.) Q)..- N N M ('().s Q <D CO ~ 00 0 0- rti "0 <D '<t "<t- o Q.t: CO N N... Q) r--' r-..- ~,..: Q. ~ ~ t:.. s Q)Q 00 I I I I CO CO 0 CO 00 N.~ ~S (') 0) N 00 '<t... N "It "<t-- ~- ~ ~ 00 m ~- Q (.) "'''' m ~- N N... ('()('().s '<t... (')... co-..;..-... <D 0) CO "'''' '<t'<t 0> "<t- "<t- M..f..f r-: co-...- N- «t«t..- CO (') ~ co..-... COQ OOM~ <D <D..- 0) ftj M OOCO('() N N <D 0... Os COO ('() CO io 1.0 r--, "<t- ('),,,'" ~- ~ 00..- '..f..- ~ ~- r-..-..., o..-'<t N r--... M <D'<tr--'" <D ('() <D (') (')... N, -,'" ('()- ed ed r-..- 0)- 11)- coco> ' e (0..-00"- CO N <D.., c:: or--o('() <D <D..- '" "<t- 0 r-, II) ',,r--.!l! ed m ",' lc) 0)- <DCO"- '...- CO ~r-- (') N «t (J) "<t- N.Q '"...-... (') 0>.S r-..q oo(')~ <D <D I.., c:: ooco(') 0 0 N N M s Os COO(,)CO N N 0> 0),,,1.0... ~ 00..-.. 0' 0 CO' CO- o- 0> Q), "'<D«t0 0> 0> r-- r-,... CXl... NOr--1.O «t co 0) (J) ~,,,'" r-: ",' c-r) (')- (') '" 0> ' 0 "'o>co"- «t..- <D co co <DNO(') ('), «t 0> 0) M -,,r--..- «t' 00 co' o~"""c-r) fsi..- N <D co 0 (I) "'''' e ~ N ~ Q '<I' N <: >- ~ E... I- ~ ro.:! ro "" e... ::t! 3 J::EJ:: (ij ~ CIl 0. il: "" 0 zo _CIlQ)Ul 'c_ "C e i:i C/) -w.~ ro ;9~"" ~ 0.... -ro 1/)-.- ro 0. :J.s 0. "C :::E ro c ro'- wi/) o.cq)ul c U :J Q) OO._._ U Q) o C.0 (!)D:: co... E "C.!:::! Q) ~ +:i~ Q) ZW ~"E~~ :s.~ (ij ~.J!1C: ~u:: c: Ul c(z rn 0(1) I- ro (ij ~...J 0. Q) Q)-c Q) :0 c( :z::o:..t:: 0. CIl Ul Q) C.cT"""NC"> (.):JQ) o.c ~ c a:: ::::l I- uo (I). CIl'- Oro :::> T""" T"""..- 0 N (") I I..:..- '<I' I- ~ ro a I co....r; E 0 c ro N ro c....r; a; Q) I-... ro ~ 5.0 a I <1l '0 ti a. c 0 ui ~ ro 0> ~o... I...

NOTES TO THE SEPARATE FINANCIAL STATEMENTS 1. CORPORATE INFORMATION ( the Company ) is incorporated under the Law on Enterprises of Vietnam pursuant to Business Registration Certificate No. 0103014996 issued by the Ha Noi Department of Planning and Investment on 13 December 2006. The Company subsequently received Securities Operating License No. 36/UBCK-GPHDKD issued by State Securities Commission on 25 December 2006 and the following amended licenses: The amended Securities Operating License No. Date granted Amendments 36/UBCK-GPHDKD 25/12/2006 First issuance 67/UBCK-GP 24/08/2007 Increase the charter capital from 43,000,000,000 to 86,000,000,000 92/UBCK-GPDCCTCK 05/12/2007 Increase the charter capital from 86,000,000,000 to 430,000,000,000 115/GPDC-UBCK 03/12/2012 Change the head office s address 38/GPDC-UBCK 27/08/2015 Increase the charter capital from 430,000,000,000 to 476,438,880,000 32/GPDC-UBCK 05/09/2016 Increase the charter capital from 476,438,880,000 to 520,005,060,000 44/GPDC-UBCK 12/12/2016 Increase the charter capital from 520,005,060,000 to 534,295,060,000 42/GPDC-UBCK 29/08/2017 Increase the charter capital from 534,295,060,000 to 578,710,410,000 64/GPDC-UBCK 29/09/2018 Increase the charter capital from 578,710,410,000 to 635,023,750,000 The Company s primary activities are to provide brokerage service, securities trading, finance and investment advisory service, custodian service and underwriting for securities issues. The Company has its head office located at 22 Lang Ha Street, Dong Da District, Ha Noi and has one (1) branch (Ho Chi Minh City Branch) as at 30 September 2018. The Company has 59 employees as at 30 September 2018 (31 December 2017: 58 employees). Main features of operation of the Company Capital size According to the separate statement of financial position as at 30 September 2018, the Company s charter capital amounted to 635,023,750,000 while its owners equity was 828,268,375,037 and its total assets were 2,608,020,786,564. Investment target The Company s aims are to contribute to the development of the securities market and bring benefits to its customers, investors and shareholders. 16

1. CORPORATE INFORMATION (continued) Investment restrictions The Company is required to comply with Article 44 under Circular No. 210/2012/TT-BTC dated 30 November 2012 providing guidance on establishment and operation of securities companies, Circular No. 07/2016/TT-BTC dated 18 January 2016 amended some articles on Circular No. 210/2012/TT-BTC and other applicable regulations on investment restrictions. The current applicable practices on investment restrictions are as follows: Securities Company is not allowed to invest, contribute capital to invest in real-estate investment except for the purpose of use for head office, branches, and transaction offices directly serving professional business activities of the securities company. Securities Company may invest in real-estate investment and fixed assets on the principle that the carrying value of the fixed assets and real-estate investment should not exceed fifty percent (50%) of the total value of assets of the securities company. Securities Company is not allowed to use more than seventy percent (70%) of its charter capital to invest in corporate bonds. Securities Company, licensed to engage in selftrading activity, is allowed to trade listed bonds in accordance with relevant provision on trading Government bonds. Securities Company must not by itself, or authorize another organization or individuals to: Invest in shares or contribute capital to companies that owned more than fifty percent (50%) of the charter capital of the Securities Company, except for purchasing of odd lots at the request of customers; Make joint investment with an affiliated person of five percent (5%) or more in the charter capital of another securities company; Invest more than twenty percent (20%) in the total currently circulating shares or fund certificates of a listing organization; Invest more than fifteen percent (15%) in the total currently circulating shares or fund certificates of an unlisted organization, this provision shall not apply to member fund certificates; Invest or contribute capital of more than fifteen percent (15%) in the total paid-up capital of a limited liability company or of a business project; Invest more than fifteen percent (15%) of its equity in a single organization or of a business project; Invest more than seventy percent (70%) of its total equity in shares, capital contribution and a business project, specifically invest more than twenty percent (20%) of its total equity in unlisted shares, capital contribution and a business project. Subsidiary The Company has a subsidiary, Thien Viet Asset Management Joint Stock Company which is incorporated and operates in accordance with Business Registration Certificate No. 4103005793 issued by the Ho Chi Minh Department of Planning and Investment on 26 December 2006. The Company received its first License No. 15/UBCK-GPHDQLQ dated 28 December 2006 and the latest No. 21/GPDC-UBCK dated 1 September 2015 granted by the State Securities Commission. The subsidiary s head office is located at Floor 9, Bitexco Nam Long Tower, 63A Vo Van Tan Street, Ward 6, District 3, Ho Chi Minh City, Vietnam. As at 30 September 2018, the Company holds 99.20% shares and 99.20% of voting rights of this subsidiary (31 December 2017: 99.20%). 17

2. BASIS OF PREPARATION 2.1. Applied accounting standards and system The separate financial statements of the Company expressed in Vietnam dong ( ) are prepared in accordance with Vietnamese Enterprise Accounting System, the accounting regulation and guidance applicable to securities companies as set out in Circular No. 210/2014/TT-BTC dated 30 December 2014, Circular No. 334/2016/TT-BTC dated 27 December 2016 amending, supplementing and replacing Appendices No. 02 and No. 04 of Circular No. 210/2014/TT-BTC, Circular No. 146/2014/TT-BTC dated 6 October 2014 providing guidance on financial regime applicable to securities companies and asset management companies and other Vietnamese Accounting Standards promulgated by the Ministry of Finance as per: Decision No. 149/2001/QD-BTC dated 31 December 2001 on the Issuance and Promulgation of Four Vietnamese Standards on Accounting (Series 1); Decision No. 165/2002/QD-BTC dated 31 December 2002 on the Issuance and Promulgation of Six Vietnamese Standards on Accounting (Series 2); Decision No. 234/2003/QD-BTC dated 30 December 2003 on the Issuance and Promulgation of Six Vietnamese Standards on Accounting (Series 3); Decision No. 12/2005/QD-BTC dated 15 February 2005 on the Issuance and Promulgation of Six Vietnamese Standards on Accounting (Series 4); and Decision No.100/2005/QD-BTC dated 28 December 2005 on the Issuance and Promulgation of Four Vietnamese Standards on Accounting (Series 5). 2.2 Applied accounting documentation system The Company s applied accounting documentation system is the General Journal Voucher. 2.3 Fiscal year The Company s fiscal year starts on 1 January and ends on 31 December. The Company also prepares its quarterly separate financial statements for the three-month period ended on 31 March, 30 June, 30 September and 31 December each year. 2.4 Purpose of separate financial statements The Company has a subsidiary as presented at Note 1 and has prepared these separate financial statements in accordance with requirements of financial reporting disclosure, particularly Circular No. 155/2015/TT-BTC - Guidance on information disclosure in the stock market. According to this regulation, the Company has prepared the consolidated financial statements for the three-month period ended 30 September 2018 on 19 October 2018. The users of separate financial statements should read these separate financial statements together with the consolidated financial statements for the three-month period ended 30 September 2018 in order to have adequate information about the consolidated financial position, consolidated results of operations and consolidated cash flows of the Company and its subsidiary. 2.5 Accounting currency The separate financial statements are prepared in Vietnam dong ( ), which is the accounting currency of the Company 18

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 3.1 Changes in accounting policies and disclosures On 20 November 2015, the National Assembly of Vietnam promulgated the Law on Accounting No. 88/2015/QH13 ( the Accounting Law 2015 ). The Accounting Law 2015 allows certain assets and liabilities whose value frequently varies in line with market fluctuation to be subsequently measured following fair value basis, provided that the fair value of these assets and liabilities can be reliably determined. The Accounting Law 2015 has taken effective since 1 January 2017. Accordingly, certain financial assets are recognized as follows: Financial assets at fair value through profit and loss (FVTPL): are initially recognized at cost. After initial recognition, financial assets at FVTPL are recognised at fair value. Any difference (gain or loss) arising from the revaluation of financial assets at FVTPL shall be recognised in the separate income statement. Available-for-sale (AFS) financial assets: are initially recognized at cost. After initial recognition, AFS financial assets are recognised at fair value. Any difference arising from the revaluation of AFS financial assets (other comprehensive income) will be directly recognised in owners equity - Difference from revaluation of assets at fair value item of the separate statement of financial position and the separate statement of changes in owners equity, except for provision expense for impairment of AFS financial assets which is recognised in the separate income statement. The Company has applied the fair value basis in accordance with the Accounting Law 2015 non-retrospectively. 3.2 Cash and cash equivalents Cash and cash equivalents comprise cash on hand, cash at banks and short-term, highly liquid investments with an original maturity of three months or less that are readily convertible into known amounts of cash and that are subject to an insignificant risk of change in value. Cash deposited by customers for securities trading and cash deposited by securities issuers are presented on the separate off-balance sheet. 19

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) 3.3 Financial assets at fair value through profit and loss (FVTPL) Financial assets recognized at fair value through profit and loss are financial assets that satisfy either of the following conditions: a) It is classified as held for trading. A financial asset is classified as held for trading if: It is acquired or incurred principally for the purpose of selling or repurchasing it in the near term; There is evidence of a recent actual pattern of short-term profit-taking; or It is a derivative (except derivative that is a financial guarantee contract or effective hedging instrument). b) Upon initial recognition, a financial asset is designated by the entity as at fair value through profit and loss as it meets one of the following criteria: The designation eliminates or significantly reduces the inconsistent treatment that would otherwise arise from measuring the asset or recognising gains or losses on a different basis; or The assets and liabilities are part of a group of financial assets which are managed and their performance evaluated on a fair value basic, in accordance with a documented risk management or investment strategy. Financial assets at FVTPL are initially recognized at cost (acquisition cost of the assets excluding transaction cost arising from the purchase) and subsequently recognized at fair value. Increase in the difference arising from revaluation of financial assets at FVTPL in comparison with the previous period is recognized into the separate income statement under Gain from revaluation of financial assets at FVTPL. Decrease in the difference arising from revaluation of financial assets at FVTPL in comparison with the previous period is recognized into the separate income statement under Loss from revaluation of financial assets at FVTPL. Transaction costs relating to the purchase of the financial assets at FVTPL are recognized when incurred as expenses in the separate income statement. 3.4 Held-to-maturity investments (HTM) Held-to-maturity investments are non-derivative financial assets with determinable payments and fixed maturity that an entity has the positive intention and ability to hold to maturity other than: a) Those that the entity upon initial recognition designates as at fair value through profit or loss; b) Those that the entity designates as available for sale; and c) Those meet the definition of loans and receivables. Held-to-maturity investments are recognized initially at cost plus (+) transaction costs which are directly attributable to the investments such as brokerage fee, trading fee, agent fee, issuance agent fee and banking transaction fee. After initial recognition, held-to-maturity financial investments are subsequently measured at amortized cost using the effective interest rate ( EIR ). 20

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) 3.4 Held-to-maturity investments (HTM) (continued) 3.5 Loans Amortized cost of HTM financial investments is the amount at which the financial asset is measured at initial recognition minus (-) principal repayments, plus (+) or minus (-) the cumulative amortisation using the effective interest method of any difference between that initial amount and the maturity amount, and minus any reduction (directly or through the use of an allowance account) for impairment or uncollectibility. The effective interest rate method is a method of calculating the cost allocation on interest income or interest expense in the period of a financial assets or a group of HTM investments. The effective interest rate is the rate that exactly discounts estimated future cash payments or receipts through the expected life of the financial instrument or, when appropriate, a shorter period to the net carrying amount of the financial asset. HTM investments are subject to an assessment of impairment at the separate financial statement date. Provision is made for an HTM investment when there is any objective evidence that the investment is unrecoverable or there is uncertainty of recoverability, resulting from one or more events that has occurred after the initial recognition of the investment and that event has an impact on the estimated future cash flows of the investment that can be reliably estimated. Evidence of impairment may include a drop in the fair value/market value of the investment, indications that the debtors or a group of debtors are experiencing significant financial difficulty, default or delinquency in interest or principal payments, the probability that they will enter bankruptcy or other financial reorganization and where observable data indicate that there is a measurable decrease in the estimated future cash flows, such as changes in arrears or economic conditions that correlate with defaults. When there is any evidence of impairment, provision for an HTM investment is determined as the negative difference between its fair value and amortized cost at the assessment date. Any increase/decrease in the balance of provision is recognized in the separate income statement under Provision expense for diminution in value and impairment of financial assets and doubtful receivables, and borrowing costs of loans. Loans are non-derivative financial assets with fixed or identifiable payments and not listed on the market, with the exceptions of: a) The amounts the entity has the intent to immediately sell or will sell in a near future which are classified as assets held for trading, and like those which, upon initial recognition, the entity categorized as such recognized at fair, value through separate profit or loss statements; b) The amounts categorized by the entity as available for sale upon initial recognition; or c) The amounts whose holders cannot recover most of the initial investment value not due to credit quality impairment and which are categorized as available for sale. Loans are recognized initially at cost. After initial recognition, held-to-maturity financial investments are subsequently measured at amortized cost using the effective interest rate ( EIR ). Amortized cost of loans is the amount at which the financial asset is measured at initial recognition minus (-) principal repayments, plus (+) or minus (-) the cumulative amortisation using the effective interest method of any difference between that initial amount and the maturity amount, and minus any reduction for impairment or uncollectibility (if any). 21

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) 3.5 Loans (continued) Loans are subject to an assessment of impairment at the separate financial statement date. Provision is made for loan based on its estimated loss which is determined by the negative difference between the market value of securities used as collaterals for such loan and the loan balance. Any increase/decrease in the balance of provision is recognized in the separate income statement under Provision expense for diminution in value and impairment of financial assets and doubtful debts and borrowing costs of loans. 3.6 Available-for-sale financial assets (AFS) Available-for-sale financial assets are those non-derivative financial assets that are designated as available for sale or are not classified as: a) Loans and receivables; b) Held-to-maturity investments; or c) Financial assets at fair value through profit or loss. Available-for-sale financial assets are recognized initially at cost plus (+) transaction costs which are directly attributable to the purchase of the financial assets. After initial recognition, available-for-sale financial assets are subsequently measured at fair value. Difference arising from the revaluation of AFS financial assets in comparison with previous period is recognized under Gain/(loss) from revaluation of AFS financial assets in Other comprehensive income after tax which is a part of the separate income statement. As at the separate financial statement date, the Company assessed whether there is any objective evidence that an AFS financial asset is impaired. Any increase/decrease in the balance of provision is recognized in the separate income statement under "Provision expenses for diminution in value and impairment of financial assets and doubtful debts and borrowing costs of loans". Where an equity instrument is classified as available-for-sale, evidence of impairment includes a significant or prolonged decline in the fair value of the investment below its original cost. Significant is to be evaluated against the original cost of the asset and prolonged indicates the period in which the fair value has been below its original cost. When any evidence of impairment exists, provision is determined as the difference between the AFS asset s cost and fair value at the assessment date. Where a debt instrument is classified as available-for-sale, the assessment of impairment is conducted using the same criteria as those applied for HTM investments. When there is any evidence of impairment, provision for an AFS asset is determined as the negative difference between its fair value and amortized cost at the assessment date. 3.7 Fair value/market value of financial assets Fair value/market value of the securities is determined as follows: For securities listed on Hanoi Stock Exchange and Ho Chi Minh City Stock Exchange, their market prices are their closing prices on the trading day preceding the date of setting up the provision. For securities registered for trading on UPCOM, their market prices are their closing prices on the trading day preceding the date of setting up the provision. For the delisted securities and suspended trading securities from the sixth day afterward, their prices are the book value at the latest financial report date. The market price for unlisted securities and securities unregistered for trading used as a basis for setting up the provision is the average of actual trading prices quoted by 3 securities companies conducting transactions at the latest date preceding the revaluation date. For provision purpose, market value is determined in accordance with the Circular No.146/2014/TT-BTC. 22