PNC (Securities code: PNC) has explained why its securities code decreased by 5% in the third quarter of 2008 compared with the second quarter as follows:
In the second quarter of 2008, company’s profit had included income arisen from the transference of 10% of the company’s investment portion in Megastar Media Joint venture to Envoy Media Group according to the resolution of the company’s Shareholder Meeting dated March 22, 200. This transferred portion was USD400,000, equivalent to more than 6 VND billion.
Other business activities are in normal status. If the situation mentioned above was excluded, the third quarter’s business would have been the best in the fiscal year.