Monthly Report April Investment, Finance and Accounting Cathay Life (VN)
Contents This month activities 1 Innovation & Incentive Program 2 Vietnamese Market News 3 Next month plan 4
1.This month activities Investment UUSD / VND time deposit re-investment to match cash flow needs in the future. FFollowing up international and domestic bond market Seek opportunity to invest government bond Accounting & Finance IInternal and External Accounting report (P&L, Tax reports.Q1 Auditing report …) TTax registration for D.Nai branch LLaunching new function system about Insurance payment by ID and bank account CCompleted testing profit center reports,the first draft of the allocation report has been released out IInnovation and Incentive Program
Innovation and Incentive Program Objective Rule and Eligibility Process and Templates Contents
Objectives Encourage employees share thoughts / ideas on business issues to improve current situation and cost saving. Company success Build a positive impact on “go- go” innovation and employee morale in a professional working environment. COST SAVING QUALITY OF SERVIES InnovationIncentive
Rule and Eligibility ParticipantParticipant All employee of Cathay Life Vietnam, either individuals or team. CommitteeCommittee EVP: Leader Director levels : Assistant Accounting: Coordinator AwardsAwards 3% of Net Savings, up to a maximum of VND 20,000,000. InnovationIncentive
Templates FORM B PROJECT APPRAISAL REPORT (PAR) FORM C PROJECT EVALUATION REPORT (PER) FORM A PROPOSAL FOR INNOVATION InnovationIncentive
Process 1 Idea capture indicates the main scope of innovation and its benefit. 2 Initial review Committee is doing an initial Assessment the potential feasibilities. 3 PAR issued indicates how ideas are put in practice relating to the tasks, analysis results and comments. InnovationIncentive Form AForm B
Process (Cont.) 4 Key review Considers the factors: resources, finance, technical issues… to make decision 5 BOD review. Upon BOD approval, a Project Manager (PM) will be assigned in implementing. 6 Implement Brings the PAR into the practice. PM has to monitor any difficulties or obstacles caused. InnovationIncentive
Process (Cont.) 7 Flash award 8 Appraisal Evaluate the success of project via a PER and also propose the awards. 9 Recognition Incentive to employees has contributed the developed innovation idea. InnovationIncentive Form C
AApril CPI increased slightly by 0.14% m/m and y/y went down a little bit to 9.23% (9.46 in March). Vietnam CPI CPI break down 4. MarketNews
EExport: USD 20.16bio (TYD), 8.9% y/y. Import: USD 24.81bio (YTD), 36% y/y. TTrade deficit: 4.65bio (YTD) Vietnam Imports and Exports (%) Trade deficit ($ million) MarketNews International Trade
The first 4 mths of 2010 showed an increase compared with the first 4 mths of last year. IndicatorApr 10(VND) YTD (YOY) Industrial output236.7trio 13.5% - State sector53.84 trio 10.3% - Non state sector84.99 trio 12.7% - FDI sector97.87 trio 16.1% Vietnam Industrial Production YTD y/y MarketNews Industrial Output
USD/VND rate 3.4% 17, 5.4% 17, Vietnam Dong has been appreciated compared with US dollar recently. -Official rate : VND/$ -Unofficial rate : VND/$ Foreign Foreign Exchange MarketNews
4.Next month plan )Follow up Auto pay project (continue) 2)Continuously follow-up the budget performance system and support all departments in budget controlling. 3)Audited by parent company 4)Keep following the progress of fund management company with ICC 5)Start investment project ─ schedule time and topic about financial market and do presentation. 6)Keep on cash managing to match cash flow needs in the future. 7)Following up international and domestic bond market, including economic indicators and bond trading activities
Accounting & Finance THEEND