Dear our shareholders, customers, partners and the whole employees of Tien Phong Plastic Joint Stock Company.

Another year has passed by, during which Vietnam’s economy and domestic businesses had experienced so much turbulence and obstacles. In fact, the national economy, influenced by global trends, has not yet overcome financial crisis. It is reported that the economy growth was just 6.78 percent. The financial market also had serious fluctuations: Consumer Price Index and Foreign Exchange Rate increased by 9.19 percent and 10 percent respectively. Besides, interest rates turmoil forced businesses to raise capital cost 20 percent. Plus, unexpected disasters took its tolls with damage was estimated over 11,7 trillion dong. Those difficulties made many manufacturers to suffered stagnations and loss trying to maintain operations waiting for this adversity to pass soon.

Tien Phong Plastic Joint Stock Company was not an outsider. However, the achievements we had this year gave us such relief. With the efforts of the Board of Management to find way and effective strategies amid economic turbulences, the exertion of the collective engineers and workers to make technical upgrade to improve efficiency and reduce cost, our achievements was really remarkable!

While the growth rate of industrial and construction sector was only 7,7 percent, Tien Phong Plastic’s revenue growth was 30 percent with the absolute calculation of 1.939 billion dong, more 446 billion dong than last year. Although many companies were still deep in crisis, our profit before tax was over 350 billion dong. It is not a coincidence that we received precious Vietnam Gold Star Award, acclaimed one of 500 biggest Vietnam businesses and one of representative companies on the stock market.

To obtain those achievements, beside our own efforts, we must take into account the wonderful supports from devoted shareholders, traditional customers and reliable partners. From the bottom of our heart, we would like to express our sincere gratitude and expect we will do reap what we sow next year – a year we should be ready for new challenges and opportunities as well.

Last but not least, in the atmosphere of the upcoming spring, we hope and share our faith of a successful year to Tien Phong Plastic Joint Stock Company. We wish shareholders, customers, partners, the Board of Management and employees a cheerful spring, a Happy New Year, wellbeing and prosperity.

Sincerely yours,

FOR AND ON BEHALF OF MANAGEMENT

Trần Bá Phúc

Chairman of BOM