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Báo cáo tài chính và thuyết minh theo Chuẩn mực kế toán Việt Nam (VAS)

Tóm tắt Báo cáo tài chính theo Chuẩn mực Báo cáo Tài chính Quốc tế (IFRS)
So sánh Kết quả hoạt động kinh doanh hợp nhất theo VAS và IFRS 2011
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BÁO CÁO THƯỜNG NIÊN 2011
CÔNG TY CỔ PHẦN VINCOM
04
BÁO CÁO THƯỜNG NIÊN 2011
CÔNG TY CỔ PHẦN VINCOM
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BÁO CÁO THƯỜNG NIÊN 2011
CÔNG TY CỔ PHẦN VINCOM
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ÿӏQKPDQJWtQKFKLӃQOѭӧFOӟQ

7ҥL7Kӫÿ{+j1ӝLErQFҥQKYLӋFWLӃSWөFNKDLWKiFNLQK
GRDQKәQÿӏQKWҥL9LQFRP&HQWHU+j1ӝLÿӗQJWKӡLÿҭ\
QKDQKF{QJWiFWKLF{QJYjEiQKjQJWҥLGӵiQ5R\DO
&LW\ WKu YӟL Vӵ FKXҭQ Eӏ FKX ÿiR Yj FKX\rQ QJKLӋS
9LQFRPÿmFKtQKWKӭFNKӣLF{QJGӵiQ.KXÿ{WKӏ7LPHV
&LW\WUrQGLӋQWtFKKѫQKDQJD\WӯÿҫXQăP7LӃSVDX
ÿyWӟLWKiQJGӵiQ.KXÿ{WKӏVLQKWKiL9LQFRP
9LOODJHFNJQJÿmÿѭӧF NKӣLF{QJ1KLӅXNӹOөFPӟLÿm
ÿѭӧF 9LQFRP OұS UD WURQJ QăP  QKѭ +ѫQ 
FăQ Kӝ FӫD Gӵ iQ 7LPHV &LW\ ÿѭӧF ÿăQJ Nê PXD FKӍ
WURQJWXҫQPӣEiQÿѭDYjRKRҥWÿӝQJJLDLÿRҥQ,.KX
ÿ{WKӏVLQKWKiLFDRFҩS9LQFRP9LOODJHYӟLTX\P{KD!
FKӍVDX KѫQ  WKiQJWKLF{QJNKӣLF{QJ[k\ GӵQJ Yj
ÿѭDYjRYұQKjQK%ӋQKYLӋQĈDNKRD4XӕFWӃ9LQPHF
FKӍVDXWKiQJQJj\
7ҥLWKjQKSKӕ+ӗ&Kt0LQKWzDWKiS9LQFRP&HQWHU%
VDXKѫQ  QăP FKtQK WKӭFÿLYjRKRҥWÿӝQJÿmWUӣ
WKjQKPӝWÿLӇPPXDVҳPWKXK~WKjQJÿҫXWҥLWKjQK
SKӕPDQJWrQ%iF.KX9LQFRP&HQWHU$FNJQJÿDQJ
ÿѭӧFWtFKFӵFWULӇQNKDLWKLF{QJYjÿmEҳWÿҫXFKjR
WKXrWӯFXӕLQăPYӟLQKLӅXWtQKLӋXTXDQWkPWtFK
FӵFWӯNKiFKKjQJ0һFGSKҧLWKLF{QJWURQJÿLӅX
NLӋQ NKy NKăQ GR QҵP WURQJ WUXQJ WkP WKjQK SKӕ
QKѭQJWLӃQÿӝ[k\GӵQJWҥL9LQFRP&HQWHU$YүQOX{Q
ÿҥWNӃKRҥFKÿӅUD
7KѭD4XêFәÿ{QJ
1ăPFzQOjPӝW QăP ÿһF ELӋW FӫD &{QJ W\&3
9LQFRP YӟL YLӋF FKtQK WKӭF F{QJ Eӕ UҩW QKLӅX FKLӃQ
OѭӧF PӟL 7UѭӟF KӃW FKtQK Oj FKLӃQ OѭӧF SKiW WULӇQ
FKXӛL WUXQJ WkP WKѭѫQJ PҥL 7770 YӟL KDL WrQ JӑL

WKӕQJ QKҩW 9LQFRP &HQWHU Yj 9LQFRP 0HJD0DOO WҥL
NKҳSFiFÿ{WKӏOӟQFӫD9LӋW1DP7KHRÿyWURQJYzQJ
 QăP WӟL 9LQFRPGӵ ÿӏQK VӁ SKiWWULӇQ NKRҧQJ 
7770ÿҥW WLrX FKXҭQ 4XӕFWӃ YӟL WәQJGLӋQ WtFK VjQ
KѫQWULӋXP
2
FKLӃPOƭQKNKRҧQJWKӏ SKҫQPһW
EҵQJ7770WҥL9LӋW1DP
.K{QJFKӍGӯQJOҥLӣÿyÿӇSKKӧSYӟL[XKѭӟQJSKiW
WULӇQ Yj KӝL QKұS 4XӕF WӃ Ĉ+Ĉ&Ĉ EҩW WKѭӡQJ QăP
 ÿm SKr GX\ӋW NӃ KRҥFK ViS QKұS &{QJ W\ &3
9LQSHDUO YjR &{QJ W\ &3 9LQFRP 6DX ViS QKұS
9LQFRPVӁWUӣWKjQKPӝWWURQJQKӳQJ7ұSÿRjQNLQKWӃ
WѭQKkQKjQJÿҫX9LӋW1DPKRҥWÿӝQJWRjQGLӋQYӟL
QKyPWKѭѫQJKLӋXFKLӃQOѭӧF9LQFRP%ҩWÿӝQJVҧQ
9LQSHDUO 'X OӏFK JLҧL WUt 9LQPHF 'ӏFK Yө \ WӃ FKҩW
OѭӧQJFDR9LQFKDUP&KăPVyFVҳFÿҽSYjVӭFNKRҿ
7ӯÿk\PӑLKRҥWÿӝQJÿҫXWѭNLQKGRDQKFӫD9LQFRPVӁ
ÿѭӧFQkQJOrQPӝWWҫPFDRPӟLYӟLWҫPYyFWtQKÿӝW
SKi ViQJ WҥR Yj ÿҷQJ FҩS FDR KѫQ QKҵP ÿyQ ÿҫX
QKӳQJYұQKӝLPӟL
&yWKӇQyLYӟLQKӳQJKӋOө\FӫDQăPYӯDTXDWKu
QăPÿѭӧFGӵEiROjPӝWQăPYӟLUҩWQKLӅXGLӉQ
ELӃQNKyOѭӡQJÿӕLYӟLQӅQNLQKWӃ7X\QKLrQ%DQ/mQK
ÿҥRYjWRjQWKӇ&%19&{QJW\&39LQFRPTX\ӃWWkPVӁ
YѭӧWTXDPӑLNKyNKăQWKӱWKiFKÿӇWLӃSWөF[k\GӵQJ
&{QJW\QJj\FjQJKQJPҥQKYjYӳQJEѭӟFWUrQFRQ
ÿѭӡQJSKiWWULӇQ7KD\PһWFKR+ӝLÿӗQJ4XҧQWUӏ&{QJ
W\W{L[LQJӱLOӡLWULkQFKkQWKjQKÿӃQ4XêFәÿ{QJYuVӵ
WLQWѭӣQJӫQJKӝYjFKLDVҿYӟL&{QJW\WURQJWKӡLJLDQ

TXD ÿӗQJ WKӡL UҩW PRQJ WLӃS WөF QKұQ ÿѭӧF Vӵ ÿӗQJ
KjQKӫQJKӝFӫD4XêYӏWURQJWKӡLJLDQWӟL
7UkQWUӑQJFҧPѫQ
&KӫWӏFK+ӝLÿӗQJ4XҧQWUӏ
3KҥP1KұW9ѭӧQJ
THÔNG ĐIỆP TỪ CHỦ TỊCH HỘI ĐỒNG QUẢN TRỊ
&KӍYӟLKѫQQăPÿLYjRKRҥWÿӝQJ&{QJW\&39LQFRPÿm
ÿѭӧFÿiQKJLiOjPӝWWURQJQKӳQJGRDQKQJKLӋSKjQJÿҫX
WURQJOƭQKYӵFEҩWÿӝQJVҧQWҥL9LӋW1DP9ӟLNKҧQăQJÿҫX
WѭNKDLWKiFYjTXҧQQKӳQJNKXSKӭFKӧSÿ{WKӏFDRFҩS
TX\P{OӟQQKӳQJWә KӧS7770 YăQSKzQJ KҥQJVDQJ
9LQFRPÿmWUӣWKjQKPӝWWKѭѫQJKLӋXEҩWÿӝQJVҧQX\WtQ
ÿҷQJFҩSYjWLQFұ\9LQFRPÿѭӧFQKҳFÿӃQQKѭPӝWGRDQK
QJKLӋSFySKѭѫQJWKӭFÿҫXWѭNLQKGRDQKKLӋXTXҧFKX\rQ
QJKLӋSYjEӅQYӳQJ
5DÿӡLWURQJEӕLFҧQKWKӏWUѭӡQJEҩWÿӝQJVҧQ9LӋW1DP
EҳWÿҫXJLDLÿRҥQSKiWWULӇQQyQJQJj\&{QJ
W\&3 7KѭѫQJPҥL7әQJKӧS 9LӋW1DPWLӅQWKkQ FӫD
&{QJW\&39LQFRPFKtQKWKӭFÿLYjRKRҥWÿӝQJYӟLYӕQ
ÿLӅXOӋEDQÿҫXOjWӹÿӗQJWҥL+j1ӝL9ӟLQKӳQJê
WѭӣQJÿmQXQJQҩXYjGҫQWKjQKKLӋQWKӵF&{QJW\NKӣL
F{QJ [k\ GӵQJ WzDWKiS ÿ{L 9LQFRP&HQWHU +j 1ӝL
7KiS$Yj%WUѭӟFÿk\JӑLOj9LQFRP&LW\7RZHUVYjR
QăP
NĂM XÂY DỰNG
VÀ PHÁT TRIỂN
LỊCH SỬ HÌNH THÀNH VÀ PHÁT TRIỂN
2002
1ăP  9LQFRP FKX\ӇQ QKѭӧQJ 7KiS$  9LQFRP
&HQWHU+j1ӝLNKXYăQSKzQJFKR1JkQKjQJĈҫXWѭ

Yj3KiWWULӇQ9LӋW1DP%,'9YjKRjQWKjQKYLӋFWăQJ
YӕQÿLӅXOӋOrQPӭFWӹÿӗQJ
2006
9LQFRPÿmWKӵFKLӋQWăQJYӕQÿLӅXOӋOrQWӹÿӗQJ
YjR WKiQJ  Yj Wӹ ÿӗQJYjR WKiQJ 
1Jj\9LQFRPFKtQKWKӭFQLrP\ӃWWUrQVjQ
JLDRGӏFKFKӭQJNKRiQWKjQKSKӕ73+ӗ&Kt0LQKWUӣ
WKjQK&{QJW\EҩWÿӝQJVҧQFyJLiWUӏYӕQKyDOӟQQKҩW
WҥLWKӏ WUѭӡQJ FKӭQJNKRiQ 9LӋW 1DP 7KiQJ  FQJ
QăPOҫQÿҫXWLrQ9LQFRPSKiWKjQKWKjQKF{QJWӹ
ÿӗQJ7UiLSKLӃXGRDQKQJKLӋSNǤKҥQQăP
2007
7KiQJ9LQFRPWăQJYӕQÿLӅXOӋOrQJҫQWӹ
ÿӗQJYjWLӃS WөF SKiW KjQKWKjQKF{QJ  Wӹ ÿӗQJ
7UiLSKLӃXGRDQKQJKLӋSNǤKҥQQăP
2008
1Jj\VDXWKiQJWKLF{QJ WKҫQ WӕF WzD
WKiSÿ{L9LQFRP&HQWHU+j1ӝL7KiS$Yj%FDR
WҫQJYӟL77709ăQSKzQJFDRFҩSWҥL%j7ULӋX
4XұQ+DL%j7UѭQJ+j1ӝLFKtQKWKӭFNKDLWUѭѫQJ6ӵ
NLӋQQj\ÿmÿiQKGҩXFKRVӵUDÿӡLYjSKiWWULӇQFӫD
KjQJ ORҥW Gӵ iQ EҩW ÿӝQJ VҧQ FDR FҩS FӫD 9LQFRP
9LQFRP&HQWHU+j1ӝL QѫL KӝL Wө QKӳQJ WKѭѫQJ KLӋX
KjQJÿҫXÿmWUӣWKjQKPӝWÿӏDFKӍPXDVҳPQәLWLӃQJ
YӟLPӛLQJѭӡLGkQ+j1ӝLÿӗQJWKӡLJySSKҫQWKLӃWWKӵF
[k\GӵQJ7Kӫÿ{YăQPLQKKLӋQÿҥL
2004
BÁO CÁO THƯỜNG NIÊN 2011
CÔNG TY CỔ PHẦN VINCOM
08

BÁO CÁO THƯỜNG NIÊN 2011
CÔNG TY CỔ PHẦN VINCOM
09
JKLGҩXPӝWQăPEѭӟFQJRһWFӫD9LQFRPYӟLQKLӅX
GҩXҩQTXDQWUӑQJ6DXÿӧWFKjREiQFәSKLӃXUDF{QJ
FK~QJYӕQÿLӅXOӋFӫD&{QJW\WăQJOrQWӹÿӗQJ
1Jj\9LQFRP&HQWHU+j1ӝL7KiS&WUѭӟF
ÿk\JӑLOj9LQFRP3DUN3ODFHWzDWKiSKLӋQÿҥLFDR
WҫQJFKtQKWKӭFNKiQKWKjQKOLrQWK{QJYӟLWKiSÿ{L$Yj
%WҥRQrQPӝWWKӃFKkQNLӅQJYӳQJFKҳFÿѭD9LQFRP
&HQWHU+j1ӝLWUӣWKjQKPӝWWәKӧSKRjQKҧREDRJӗP
7770 YăQ SKzQJ FăQ Kӝ FDR FҩS WUѭӡQJ PүX JLiR
4XӕFWӃYjFiFGӏFKYөWKӇWKDROjPÿҽSJLҧLWUtVҫPXҩW
Yj VDQJ WUӑQJ EұF QKҩW 7Kӫ ÿ{ 7URQJ TXê  9LQFRP
FNJQJKRjQWҩWYLӋF[k\GӵQJYjEiQFiFFăQKӝFDRFҩS
WҥL9LQFRP&HQWHU+j1ӝL7KiS&
7KiQJ  9LQFRP WUӣ WKjQK GRDQK QJKLӋS 9LӋW
1DPÿҫXWLrQSKiWKjQKWKjQKF{QJWULӋXÿ{OD0ӻ
7UiLSKLӃXFKX\ӇQÿәL73&Ĉ4XӕFWӃQLrP\ӃWWҥL WKӏ
WUѭӡQJ&KӭQJNKRiQ6LQJDSRUH7URQJQăP&{QJ
W\FNJQJKX\ÿӝQJWKjQKF{QJWӹÿӗQJ7UiLSKLӃX
GRDQKQJKLӋSWURQJQѭӟFNǤKҥQQăP
6jQJLDRGӏFKEҩWÿӝQJVҧQ9LQFRPFNJQJFKtQKWKӭFÿL
YjRKRҥWÿӝQJWURQJQăPQj\9ӟLFiFGӏFKYөOLQKKRҥW
YjWUDQJWKLӃWEӏKLӋQÿҥLVjQEҩWÿӝQJVҧQ9LQFRPNK{QJ
FKӍKӭDKҽQJLDWăQJOӧLtFKFKRNKiFKKjQJPjFzQOj
PӝWKѭӟQJNLQKGRDQKÿ~QJÿҳQFӫD&{QJW\WURQJJLDL
ÿRҥQWKӏWUѭӡQJQJj\FjQJPӣUӝQJ
2009
7KiQJGӵiQ7KjQKSKӕ+RjQJ*LD5R\DO&LW\

ÿѭӧF NKӣL F{QJ WUrQ GLӋQ WtFK  P
2
 WҥL ÿӏD FKӍ
$1JX\ӉQ7UmL4XұQ7KDQK;XkQJKLQKұQVӵPӣ
ÿҫXWURQJFKLӃQOѭӧF[k\GӵQJFiF³VLrXGӵiQ´WUӑQJ
ÿLӇPFӫD9LQFRPWҥL7Kӫÿ{+j1ӝL
1Jj\  ÿ~QJ GӏS ÿҥL OӉ Nӹ QLӋP  QăP JLҧL
SKyQJ PLӅQ 1DP WKӕQJ QKҩW ÿҩW QѭӟF WҥL WKjQK SKӕ
PDQJWrQ%iFWzDQKjVDQJWUӑQJYjKLӋQÿҥLEұFQKҩW
9LӋW1DP9LQFRP&HQWHU%73+ӗ&Kt0LQKYӟLWҫQJ!
QәLYjWҫQJKҫPÿmFKtQKWKӭFÿLYjRKRҥWÿӝQJĈk\
OjNӃWTXҧFӫDWKiQJF{QJWUѭӡQJQJj\ÿrPKăQJ
VD\ODRÿӝQJÿӇF{QJWUuQKÿѭӧFKRjQWKjQKÿ~QJKҥQ
JyS SKҫQ ÿiQK GҩX Vӵ [XҩW KLӋQ FӫD WKѭѫQJ KLӋX
9LQFRPWҥLWUXQJWkPNLQKWӃOӟQQKҩW9LӋW1DP
7KiQJ  &{QJ W\ WăQJ YӕQ ÿLӅX OӋ OrQ  Wӹ
ÿӗQJYjSKiWKjQKWKjQKF{QJWӹWUiLSKLӃXGRDQK
QJKLӋSNǤKҥQQăP
7KiQJ9LQFRPJLӟLWKLӋXWzDWKiSFăQKӝFDR
FҩS ÿҫX WLrQ WҥL 5R\DO &LW\ Yj KѫQ  FăQ Kӝ ÿm
ÿѭӧFÿăQJNêPXDFKӍWURQJWKiQJ
7KiQJ  WzD QKj YăQ SKzQJ KLӋQ ÿҥL 9LQFRP
)LQDQFLDO7RZHUWҫQJQҵPWUrQNKXÿҩWFyGLӋQWtFK
PNpRGjLPpWWUrQSKӕ1JX\ӉQ&{QJ7Uӭ
WҥLNKXYӵFWUXQJWkPWjLFKtQKFӫD73+ӗ&Kt0Lnh!
ÿѭӧFKRjQWKjQK9ӟLWtQKQăQJOjPӝWWzDWKiSFӫa!
2010
2011
WUXQJWkPWjLFKtQKFKӭQJNKRiQQJkQKjQJKӋWKӕQJ
WK{QJWLQOLrQOҥFYӟLF{QJQJKӋWLrQWLӃQÿѭӧFFK~WUӑQJ

QKѭPӝWWURQJQKӳQJWLrXFKtTXDQWUӑQJQKҩWFӫDWzD
QKj9LQFRPÿmFKX\ӇQQKѭӧQJWRjQEӝWzDWKiSFKR
QJkQKjQJ70&3+jQJ+ҧL9LӋW1DP0DULWLPH%DQN
Yj JKL QKұQ OӧL QKXұQ Wӯ WzD WKiS 9LQFRP )LQDQFLDO
7RZHUYjRFXӕLQăP
0ӣÿҫXQăPGӵiQ7LPHV&LW\Yj%ӋQKYLӋQĈD
NKRD4XӕF WӃ 9LQPHF FKtQK WKӭFÿѭӧF NKӣL F{QJ WҥL
0LQK.KDL+j1ӝLĈk\OjEӋQKYLӋQÿѭӧF[k\WKHR
P{KuQK+RVSLWDO)DFLOLWLHVEӋQKYLӋQNKiFKVҥQÿҥW
WLrXFKXҭQ4XӕFWӃFDRFҩSKjQJÿҫX9LӋW1DP
7KiQJ  GӵiQ 9LQFRP &HQWHU$ 73 +ӗ &Kt
0LQKÿѭӧFNKӣLF{QJ[k\GӵQJ&{QJW\FNJQJKRjQWҩW
YLӋF JLҧL SKyQJ PһW EҵQJ WҥL Gӵ iQ 9LQFRP 9LOODJH
UӝQJKD
7KiQJWURQJÿӧWPӣEiQFăQKӝOҫQÿҫXWLrQWҥL
NKXSKӭFKӧSÿ{WKӏ7LPHV&LW\KѫQFăQKӝÿm
ÿѭӧFNKiFKKjQJÿăQJNêPXDFKӍWURQJYzQJWXҫQOӉ
7KiQJ9LQFRPJLӟLWKLӋXYӟLWKӏWUѭӡQJGӵiQ
ELӋWWKӵÿһFELӋWFDRFҩS9LQFRP9LOODJH
7KiQJ  9LQFRP F{QJ Eӕ KRjQ WKjQK WRjQ Eӝ
QJKƭDYөÿӕLYӟLWUiLFKӫWURQJÿӧWSKiWKjQKWULӋX
ÿ{OD0ӻ73&ĈTXӕFWӃQăPWULӋXÿ{OD0ӻ!
2012
1Jj\  9LQFRP ÿm ÿѭD %ӋQKYLӋQ ÿD NKRD
4XӕFWӃ9LQPHFEӋQKYLӋQNKiFKVҥQVDRKjQJ
ÿҫX9LӋW1DPYjRKRҥWÿӝQJFKӍVDXWKiQJQJj\
WKLF{QJ
73&ĈWѭѫQJÿѭѫQJWәQJJLiWUӏÿӧWSKiWKjQK
ÿmÿѭӧFWUiLFKӫFKX\ӇQÿәLWKjQKFәSKҫQFӫD9LQFRP
WULӋXÿ{OD0ӻNK{QJFKX\ӇQÿәLÿmÿѭӧF&{QJW\

WKDQKWRiQÿҫ\ÿӫFKRFiFWUiLFKӫWtQKÿӃQWKӡLÿLӇP

7KiQJ9LQFRPWLӃSWөFKX\ÿӝQJWKjQKF{QJ
WULӋXÿ{OD0ӻNKRҧQYD\FKX\ӇQÿәLWӯWKӏWUѭӡQJQѭӟF
QJRjL+DLÿӧWSKiWKjQKWKjQKF{QJOLrQWLӃSÿmNKҷQJ
ÿӏQKQăQJOӵFKX\ÿӝQJYӕQYjX\WtQFӫD9LQFRPWUrQ
WKӏWUѭӡQJYӕQ4XӕFWӃ
1Jj\  FXӝF KӑS Ĉ+Ĉ&Ĉ FӫD &{QJ W\ ÿm
SKrGX\ӋW SKѭѫQJiQViSQKұS &{QJ W\&39LQSHDUO
YjR&{QJW\&39LQFRP
1Jj\  7770 9LQFRP &HQWHU /RQJ %LrQ
FKtQKWKӭF NKDL WUѭѫQJ 9ӟLGLӋQWtFKPQѫL
ÿk\NK{QJFKӍOjÿLӇPÿӃQPXDVҳPÿҷQJFҩSPӟLFӫD
7Kӫÿ{PjFzQOjVӵWLӃSQӕLFӫDFKXӛL7770OӟQYj
VDQJ WUӑQJ EұF QKҩW 9LӋW 1DP PDQJ WKѭѫQJ KLӋX
9LQFRP&HQWHUÿѭӧF[k\GӵQJWҥLNKҳSFiFÿ{WKӏOӟQ
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LỊCH SỬ HÌNH THÀNH VÀ PHÁT TRIỂN
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TÌNH HÌNH TÀI CHÍNH

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SỰ KIỆN
NỔI BẬT NĂM 2011
BÁO CÁO THƯỜNG NIÊN 2011
CÔNG TY CỔ PHẦN VINCOM
16

BÁO CÁO THƯỜNG NIÊN 2011
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17
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NӃWKӧSKjLKzDQKӳQJQpWÿһFVҳFFӫDSKRQJFiFKÈỈX
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FQJFiFÿѫQYӏKӛWUӧFKX\rQVkXYjF{QJQJKӋFDRÿѭӧF
[k\GӵQJWKHRP{KuQK+RVSLWDO)DFLOLWLHVEӋQKYLӋQNKiFK
VҥQÿҥWWLrXFKXҭQ4XӕFWӃViQKQJDQJYӟLQKӳQJEӋQKYLӋQ
KjQJÿҫXNKXYӵFĈ{QJ1DPÈ
SỰ KIỆN NỔI BẬT NĂM 2011
BÁO CÁO THƯỜNG NIÊN 2011
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19
BÁO CÁO THƯỜNG NIÊN 2011
CÔNG TY CỔ PHẦN VINCOM
18
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WKѭѫQJKLӋXOj9LQFRP&HQWHUYj9LQFRP0HJD0DOO
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CÔNG TY CỔ PHẦN VINCOM
20

BÁO CÁO THƯỜNG NIÊN 2011
CÔNG TY CỔ PHẦN VINCOM
21
SƠ ĐỒ TỔ CHỨC, BỘ MÁY QUẢN LÝ
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BÁO CÁO THƯỜNG NIÊN 2011
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23
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BÁO CÁO THƯỜNG NIÊN 2011
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BÁO CÁO THƯỜNG NIÊN 2011
CÔNG TY CỔ PHẦN VINCOM
25
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BÁO CÁO THƯỜNG NIÊN 2011
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27
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FKӫÿӝQJWURQJF{QJYLӋFFyêWѭӣQJViQJWҥR
FyQăQJOӵFWә FKӭF TXҧQ  OmQK ÿҥR QKyP
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GөQJNKiNKҳWNKHYӟLFiFWLrXFKXҭQEҳWEXӝF
YӅ NLQK QJKLӋP F{QJ WiF Wѭ GX\ ORJLF SKiQ
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WUuQK ÿjR WҥR Wӯ ErQ QJRjL &iF FKѭѫQJ WUuQK
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FKӭF F{QJ YLӋF FKR FiF FҩS /mQK ÿҥR Wӯ FҩS
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WKҫQÿӗQJÿӝLNӻQăQJSKӕLKӧSOjPYLӋFQKyP
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;XҩWVҳFFӫD4XêÿӕLYӟL.KӕL'ӏFKYө.KHQ
WKѭӣQJ WKjQK WtFK Fi QKkQ FXӕL QăP .KHQ
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WUѭӟFKҥQ
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WKӵF KLӋQ WKHR ÿ~QJ TX\ ÿӏQK FӫD SKiS OXұW
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&{QJW\WKӵFKLӋQÿҫ\ÿӫFiFFKӃÿӝWKăPKӓLÿӕL
YӟL&%19ӕPÿDXWKDLVҧQWәFKӭFNKiPVӭF
NKӓH ÿӏQK NǤ Kӛ WUӧ &%19 Fy KRjQ FҧQK NKy
NKăQWһQJTXjFKR&%19QKkQGӏSVLQKQKұWNӃW
K{Q9jRFiFGӏSOӉQKѭ7ӃW'ѭѫQJOӏFK7ӃWỈP
/ӏFK 1Jj\ Nӹ QLӋP WKjQK OұS &{QJ W\ 4XӕF
.KiQKYj YjRFiFGӏSKq &{QJ W\ÿӅXWәFKӭF
FiFKRҥWÿӝQJQJKӍPiWYăQKyDYăQQJKӋWKӇ
WKDRGҥWLӋF«QKҵPÿҧPEҧRFKӃÿӝSK~FOӧLYj
FNJQJOjGӏSÿӇ&%19ÿѭӧFJLDROѭXQkQJFDRWLQK
WKҫQÿRjQNӃWWKrPJҳQEyYӟL&{QJW\ĈһFELӋW
&{QJW\[k\GӵQJFKtQKViFKNKHQWKѭӣQJFKR
FRQHP&%19ÿҥWWKjQKWtFKFDRWURQJKӑFWұS

WKӇ WKDR QJKӋ WKXұW Wә FKӭF WUҥL Kq NqP FiF
FKѭѫQJWUuQKÿjRWҥRNӻQăQJVӕQJFKRFiFFKiX
1KӳQJSKҫQWKѭӣQJQj\ÿmOX{QOjÿӝQJOӵFÿӇ
FiFFKiXSKҩQÿҩXQӛOӵFKѫQQӳDÿHPOҥLQLӅP
WӵKjRFKREӕPҽFiFFKiXYjFNJQJJySSKҫQWҥR
WKrPÿӝQJOӵFÿӇFiFEӕPҽÿyQJJySQKLӅXKѫQ
QӳDFKRVӵSKiWWULӇQFӫD&{QJW\
NHÂN SỰ
9LQFRPOj&{QJW\EҩWÿӝQJVҧQFyJLiWUӏYӕQKyD
OӟQQKҩWWҥLWKӏWUѭӡQJFKӭQJNKRiQ9LӋW1DP7tQK
ÿӃQ&{QJW\VӣKӳXP

7770Yj
YăQ SKzQJ FKR WKXrYjQҳPTX\ӅQFKLSKӕLWURQJ
FiFGӵiQÿDQJWULӇQNKDLYӟLWәQJGLӋQWtFKÿҩWJҫQ
WULӋXP

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BÁO CÁO THƯỜNG NIÊN 2011
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31
9LQFRP&HQWHU+j1ӝL7KiS$Yj%
%j7ULӋX+DL%j7UѭQJ+j1ӝL
9LQFRP&HQWHU+j1ӝL7KiS$Yj7KiS%OjWә
KӧS7770YjYăQSKzQJFKRWKXrFDRFҩSÿѭӧF
ÿѭDYjRNKDLWKiFWӯQăP3KҫQÿӃFӫDF{QJ
WUuQKJӗPWҫQJEmLÿұX[HQJҫPYjWҫQJ7770

YӟL FiF JLDQ KjQJ WKӡL WUDQJ FDR FҩS FӫD FiF
WKѭѫQJ KLӋX QәL WLӃQJ WURQJ Yj QJRjL QѭӟF FiF
JLDQKjQJҭPWKӵFVLrXWKӏX\WtQUҥSFKLӃXSKLP
KLӋQÿҥLYjFiFGӏFKYөWLӋQtFKF{QJFӝQJNKiF
9ӟLYӏWUtWѭӣQJYjGӏFKYөKRjQKҧRNKX7770
FӫD9LQFRP&HQWHU+j1ӝLOX{QÿҥWWӹOӋFKRWKXr
[ҩS[ӍYjÿѭӧFFRLOjÿLӇPÿӃQKjQJÿҫXYӅ
PXDVҳPYjJLҧLWUtFӫD7Kӫÿ{3KtDWUrQ7770Oj
KDLWzDWKiSYăQSKzQJPӛLWzDWKiSFDRWҫQJ
9LQFRP ÿm FKX\ӇQ QKѭӧQJ NKX YăQ SKzQJ FӫD
WKiS $ FKR %,'9 QăP  Yj F{QJ Eӕ FKX\ӇQ
QKѭӧQJNKXYăQSKzQJFӫDWKiS%FKR7HFKFRP(
EDQNYjR
7ҥLWKӡLÿLӇPWӹOӋVӣKӳXFӫD9LQFRP
WҥL 7770 9LQFRP &HQWHU +j 1ӝL  7KiS $ % Oj

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9LQFRP&HQWHU%73+ӗ&Kt0LQK
/r7KiQK7{Q4XұQ73+ӗ&Kt0LQK
9LQFRP &HQWHU %73 +ӗ &Kt 0LQK NKDL WUѭѫQJ
ÿ~QJYjRGӏSÿiQKGҩXVӵUDPҳWÿҫ\
WKX\ӃWSKөFFӫDWKѭѫQJKLӋX9LQFRPWҥLWUXQJWkP
NLQKWӃOӟQQKҩW9LӋW1DP&{QJWUuQKWӑDOҥFQJD\

WҥL WUXQJ WkP 73 +ӗ &Kt 0LQK Yj QҵP JҫQ FiF
F{QJ WUuQK TXDQ WUӑQJ KjQJ ÿҫX FӫD WKjQK SKӕ
QKѭӪ\EDQ1KkQGkQ1Kj+iW/ӟQFiFNKXPXD
VҳPYjNKiFKVҥQOӟQ
9LQFRP&HQWHU%73+ӗ&Kt0LQKOjGӵiQWLrQ
SKRQJWҥL9LӋW1DPWURQJYLӋFNKDLWKiFNK{QJJLDQ
QJҫPYjRNLQKGRDQKYjGӏFKYө&{QJWUuQKOjPӝW
WәKӧS7770YăQSKzQJFăQKӝFDRFҩSYjEmL
ÿұX[HQJҫPJӗPWҫQJKҫPYjWҫQJQәLÿѭӧF
WKLӃWNӃVDQJWUӑQJKLӋQÿҥLPDQJÿӃQFKRQJѭӡL
GkQ WKjQK SKӕ PӝW NK{QJ JLDQ WX\ӋW YӡL ÿӇ WKѭ
JLmQ PXD VҳP Yj JLҧL WUt7tQK ÿӃQ 
FiFFăQKӝFDRFҩSÿmÿѭӧFFKRWKXrGjLKҥQ
QăPYjWӹOӋFKRWKXrNKX7770ÿҥWNKRҧQJ
.KXYăQSKzQJÿmEѭӟFÿҫXWKXK~WÿѭӧF
PӝWVӕNKiFKWKXrFKӫFKӕWNKҷQJÿӏQKÿҷQJFҩS
FӫDWzDQKjQKѭ/mQKVӵTXiQỊFYjQKLӅXQJkQ
KjQJF{QJW\ÿD4XӕFJLD
7ҥLWKӡLÿLӇPWӹOӋVӣKӳXFӫD9LQFRPWҥL
9LQFRP&HQWHU%73+ӗ&Kt0LQKOj
9LQFRP&HQWHU+j1ӝL7KiS&
0DL+ҳFĈӃ+DL%j7UѭQJ+j1ӝL
9LQFRP&HQWHU+j1ӝL7KiS&OjWәKӧS7770Yj
FăQKӝFDRFҩSQҵPQJD\FҥQKWzDQKj9LQFRP
&HQWHU+j1ӝL7KiS$Yj7KiS%7KiS&ÿѭӧF
NӃWQӕLOLrQWK{QJYӟL7KiS$Yj%EҵQJFiFFҫXÿL
EӝWUrQFDRWҥLWҫQJWҫQJWҫQJYjÿѭӡQJQӕL
WK{QJWҥLWҫQJKҫP%WҥRWKjQKPӝWWәKӧS7770
JLҧLWUtYăQSKzQJYjFăQKӝFDRFҩSWҥLWUXQJ
WkP+j1ӝL

9LQFRP&HQWHU+j1ӝL7KiS&FyWҫQJKҫPÿұX
[HYjWҫQJQәLWURQJÿyWҫQJÿҫXWLrQOjNKX
7770YӟLQKLӅXWKѭѫQJKLӋXÿҷQJFҩSWURQJQѭӟF
Yj4XӕFWӃNKXYXLFKѫLJLҧLWUtQKjWUҿSKzQJWұS
WKӇGөFYjVSD.ӇWӯNKLEҳWÿҫXKRҥWÿӝQJYjR
WKiQJWӹOӋFKRWKXrFӫDNKX77707KiS
&OX{QӣPӭFFDR7ӯQăPÿӃQQD\WӹOӋFKR
WKXrOX{QÿҥWJҫQ&iFWҫQJSKtDWUrQFӫD
9LQFRP &HQWHU +j 1ӝL 7KiS & Oj  FăQKӝ
VDQJWUӑQJÿmÿѭӧFEiQKӃWYjJKLQKұQGRDQK
WKXYjOӧLQKXұQYjRFXӕLQăP
7ҥLWKӡLÿLӇPWӹOӋVӣKӳXFӫD9LQFRP
WҥL9LQFRP&HQWHU+j1ӝL7KiS&Oj
DỰ ÁN ĐÃ HOÀN THÀNH VÀ ĐANG HOẠT ĐỘNG
BÁO CÁO THƯỜNG NIÊN 2011
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35
5R\DO&LW\
$1JX\ӉQ7UmL7KDQK;XkQ+j1ӝL
5R\DO&LW\PӣÿҫXFKRFKLӃQOѭӧF[k\GӵQJFiF
VLrXGӵiQFӫD9LQFRP'ӵiQÿѭӧFWKLӃWNӃWUrQ
GLӋQWtFKÿҩWKѫQKDYӟLNKXFăQKӝFDRFҩS
WKHR OӕL NLӃQ WU~F FKkX ỈXVDQJ WUӑQJ YjSKҫQ
QJҫP OLrQ WK{QJ UӝQJ OӟQ Oj QѫL [k\ GӵQJ NKX
7770 9LQFRP 0HJD 0DOO OӟQ QKҩW 9LӋW 1DP
F{QJYLrQQѭӟFYjVkQEăQJWURQJQKjÿҫXWLrQ
FӫD9LӋW1DP

1ҵPӣ4XұQ7KDQK;XkQFiQKFәQJSKtDWk\FӫD
73+j 1ӝL 5R\DO &LW\ Fy JLDRWK{QJWKXұQWLӋQ
ÿӃQFiFWX\ӃQÿѭӡQJTXDQWUӑQJWURQJWKjQKSKӕ
&Kӫ WUѭѫQJ GL FKX\ӇQ FiF Fѫ Vӣ F{QJ QJKLӋS
[XQJTXDQKGӵiQUDFiFNKXYӵFQJRҥLWKjQKFӫD
73+j1ӝLWҥRQrQWULӇQYӑQJKuQKWKjQKPӝW
FKXӛLNKXÿ{WKӏÿҽSÿӗQJEӝGӑFÿѭӡQJ1JX\ӉQ
7UmLJySSKҫQQkQJFDRYjKRjQWKLӋQFҧQKTXDQ
FӫD Gӵ iQ 1JD\ Wӯ NKL ÿѭӧF JLӟL WKLӋX UD WKӏ
WUѭӡQJ5R\DO&LW\ÿmWKXK~WÿѭӧFPӝWOѭӧQJOӟQ
NKiFKKjQJWURQJYjQJRjLQѭӟF+LӋQQD\GӵiQ
ÿDQJWURQJTXiWUuQK[k\GӵQJYjGӵNLӃQVӁKRjQ
WKjQKYjRFXӕLQăP
7ҥLWKӡLÿLӇPWӹOӋVӣKӳXFӫD9LQFRP
ӣ5R\DO&LW\Oj
7ҥLWKӡLÿLӇPVDXNKLQKұQViSQKұS
9LQSHDUOWӹOӋVӣKӳXFӫD9LQFRPWҥL5R\DO&LW\Oj

Times'City
0LQK.KDL+DL%j7UѭQJ+j1ӝL
7LPHV&LW\OjGӵiQÿҫXWLrQKѭӟQJWӟLSKkQNK~F
WKӏ WUѭӡQJ WUXQJFDR FҩS FӫD 9LQFRP &KӍ FiFK
WUXQJWkP+j1ӝLNKRҧQJNP7LPHV&LW\WҥRVӭF
K~W OӟQ YӟL QJѭӡL PXD WLӅP QăQJEҵQJ WKLӃWNӃ
ÿӗQJEӝYӟLWәKӧSWUѭӡQJKӑFFăQKӝ7770Yj
EӋQKYLӋQ4XӕFWӃWUrQGLӋQWtFKKѫQKD
%ӋQKYLӋQ4XӕFWӃ9LQPHFKҥQJPөFÿѭӧFKRjQ
WKjQK ÿҫX WLrQ FӫD Gӵ iQ ÿm NKiQK WKjQK YjR
Ĉk\OjEӋQKYLӋQÿҫXWLrQӣ9LӋW1DP
ÿѭӧF[k\GӵQJWKHRP{KuQK%ӋQKYLӋQ.KiFK

VҥQÿҥWWLrXFKXҭQVDRYӟLFѫVӣYұWFKҩWKLӋn!
ÿҥLYjWUDQJWKLӃWEӏWӕLWkQFӫDFiFQKjFXQJFҩS
WKLӃWEӏ \WӃKjQJ ÿҫXWKӃJLӟLSKөF YөQKXFҫX
NKiPFKӳDEӋQKFDRFҩSFӫDQJѭӡLGkQ7Kӫÿ{
&iFKҥQJPөFNKiFFӫDGӵiQÿDQJWLӃSWөFÿѭӧF
WULӇQ NKDL [k\ GӵQJ Yj Gӵ NLӃQ KRjQ WKjQK YjR
4Xê
7ҥLWKӡLÿLӇPWӹOӋVӣKӳXFӫD9LQFRP
ӣ7LPHV&LW\Oj
DỰ ÁN ĐANG XÂY DỰNG
BÁO CÁO THƯỜNG NIÊN 2011
CÔNG TY CỔ PHẦN VINCOM
36
BÁO CÁO THƯỜNG NIÊN 2011
CÔNG TY CỔ PHẦN VINCOM
37
9LQFRP9LOODJH
/RQJ%LrQ+j1ӝL
'ӵ iQ QҵP WUrQ NKX ÿҩW UӝQJ KDYj ÿDQJ
ÿѭӧFSKiWWULӇQWKjQKNKXÿ{WKӏVLQKWKiLFDRFҩS
WUҧLUӝQJWUrQEDSKѭӡQJ9LӋW+ѭQJ3K~F/ӧLYj
*LDQJ%LrQFӫD4XұQ/RQJ%LrQ+j1ӝL'ӵiQ
JӗPTXҫQWKӇELӋWWKӵFDRFҩSÿѭӧFWKLӃWNӃWKHR
SKRQJFiFKWkQFәÿLӇQYӟLKӋWKӕQJNrQKÿjRYj
Fk\[DQKEDRTXDQK1JRjLUDFiFFѭGkQWѭѫQJ
ODLFӫDGӵiQVӁÿѭӧFKѭӣQJFiFWLӋQtFKKRjQ
KҧR Wӯ 7770 9LQFRP &HQWHU /RQJ %LrQ EӋQK
YLӋQ4XӕFWӃ9LQPHF,,FiFWUѭӡQJKӑF4XӕFWӃ
FiFF{QJWUuQKYXLFKѫLJLҧLWUtWәKӧSWKӇWKDRYj
VSDQҵPWURQJNKX{QYLrQGӵiQ

&KӍVDXKѫQWKiQJWKLF{QJ9LQFRP9LOODJHÿm
KRjQWKjQKYjÿѭDYjRVӱGөQJKҫXKӃWFiFKҥQJ
PөFWURQJJLDLÿRҥQ,FӫDGӵiQĈӃQQD\WRjn!
EӝKӋWKӕQJKҥWҫQJNӻWKXұWFӫD9LQFRP9LOODJH
QKѭ NrQK Kӗ FҧQK TXDQ Fk\ [DQK FҩS WKRiW
QѭӟF WK{QJ WLQ OLrQ OҥF ÿѭӡQJ ÿLӋQ FiF WUөF
FKtQKÿѭӡQJJLDRWK{QJQӝLEӝ«ÿmFѫEҧQÿѭӧF
KRjQWKjQK7RjQEӝTXҫQWKӇELӋWWKӵFNJQJÿm
KRjQWKjQK[k\ WK{ ÿӗQJ WKӡLÿmYj ÿDQJ EjQ
JLDRFKRNKiFKKjQJÿӇKRjQWKLӋQYjYӅӣ&iF
KҥQJPөF NKiFQKѭ7770WUѭӡQJ KӑFWәKӧS
YăQSKzQJ 7ұS ÿRjQ 9LQJURXS FNJQJ ÿmÿѭӧF
9LQFRPÿѭDYjRKRҥWÿӝQJKRһFEjQJLDR&iF
KҥQJPөFNKiFFӫDGӵiQÿDQJWLӃSWөFÿѭӧF[k\
GӵQJYjGӵNLӃQKRjQWKjQKYjRFXӕLQăP
7ҥL WKӡL ÿLӇP  Wӹ OӋ Vӣ KӳX FӫD
9LQFRPӣ9LQFRP9LOODJHOj
9LQFRP&HQWHU$73+ӗ&Kt0LQK
7ӭJLiF(GHQ4XұQ73+ӗ&Kt0LQK
'ӵiQ9LQFRP&HQWHU$73+ӗ&Kt0LQKWӑD
OҥFWҥLNKXWӭJLiF(GHQPӝWWURQJ³9ӏWUt
9jQJ´ FӫD WKjQK SKӕ  QҵP FKpR 9LQFRP
&HQWHU%73+ӗ&Kt0LQKYjÿӕLGLӋQWUӵFWLӃS
Ӫ\%DQ1KkQ'kQ73+ӗ&Kt0LQKYj1Kj+iW
/ӟQ'ӵiQOjWәKӧS7770FDRFҩSYjNKiFK
VҥQVDRJӗPWҫQJQJҫPYjWҫQJQәLÿѭӧF
WKLӃWNӃWUrQNKXÿҩWUӝQJKѫQP
2
6DX
NKLKRjQWKjQKGӵiQVӁÿѭӧFQӕLOLrQWK{QJ

YӟL9LQFRP&HQWHU%73 +ӗ &Kt 0LQK ӣ NKX
YӵFFiFWҫQJKҫP'ӵiQÿDQJÿѭӧF[k\GӵQJ
YjGӵNLӃQKRjQWKjQKYjRFXӕLQăP
7ҥLWKӡLÿLӇPWӹOӋVӣKӳXFӫD
9LQFRPӣ9LQFRP&HQWHU$73+ӗ&Kt0LQK
Oj
DỰ ÁN ĐANG XÂY DỰNG
BÁO CÁO THƯỜNG NIÊN 2011
CÔNG TY CỔ PHẦN VINCOM
38
BÁO CÁO THƯỜNG NIÊN 2011
CÔNG TY CỔ PHẦN VINCOM
39
9LQFRP+ҧL3KzQJ
6ӕYj/r7KiQK7{QJ1J{4X\ӅQ+ҧL3KzQJ
'ӵiQ9LQFRP+ҧL3KzQJOjFөPF{QJWUuQKSKӭF
KӧSJӗP7770YăQSKzQJYjEmLÿұX[HQҵPJҫQ
FҧQJ+ҧL3KzQJFiFK7UXQJWkPKLӋQWҥLFӫD+ҧL
3KzQJ NKRҧQJ  NP YӅ SKtD Ĉ{QJ Yj FiFK NKX
NLQKWӃĈuQK9NJNKRҧQJNPYӅSKtDĈ{QJ1DP
1ҵPWUrQNKXÿҩWUӝQJKѫQP
2
QѫLÿk\Gӵ
NLӃQVӁOjWәKӧSEҩWÿӝQJVҧQFDRFҩSÿDFKӭF
QăQJOӟQQKҩWWKjQKSKӕFҧQJ
7KHRTX\KRҥFKWәQJWKӇPӟLFӫD&KtQKSKӫNKX
FҧQJKLӋQWҥLVӁÿѭӧFJLҧLWӓDÿӇSKiWWULӇQWKjQK
NKXÿ{WKӏPӟLPDQJWrQ³.KXÿ{WKӏPӟL%ҳFV{QJ
&ҩP´ .KX ÿ{ WKӏ PӟLQj\ QKҩW ÿӏQK VӁFy ҧQK
KѭӣQJWtFKFӵFÿӃQGӵiQ9LQFRP+ҧL3KzQJ

7ҥLWKӡLÿLӇPWӹOӋVӣKӳXFӫD9LQFRP
WҥL9LQFRP+ҧL3KzQJOj
DỰ ÁN ĐANG PHÁT TRIỂN
9LQFRP/RQJ%LrQ
/RQJ%LrQ+j1ӝL
'ӵiQ9LQFRP/RQJ%LrQ ÿѭӧFTX\KRҥFK WUrQ
NKXÿҩWUӝQJKDQҵPWUrQEӡEҳFV{QJ+ӗQJ
JLӳD FҫX 9ƭQK 7X\ Yj FҫX 7KDQK 7Uu Yj FiFK
WUXQJWkP7Kӫÿ{+j1ӝLNKRҧQJNP9LQFRP
GӵNLӃQVӁSKiWWULӇQGӵiQWKjQKNKXÿ{WKӏYjGX
OӏFKVLQKWKiLTX\P{OӟQEDRJӗPELӋWWKӵ7770
YjWUѭӡQJKӑF
9LQFRPGӵNLӃQNKXYӵFOkQFұQVӁWUӣWKjQKPӝW
P{L WUѭӡQJ VLQK VӕQJ KLӋQ ÿҥL Yj Oj PӝW WURQJ
QKӳQJNKXYӵFFyWӕFÿӝÿ{WKӏKyDQKDQKQKҩW
+j1ӝL9LӋFKRjQWKjQKKDLFk\FҫX9ƭQK7X\Yj
7KDQK7UuÿmFҧLWKLӋQÿiQJNӇFiFWX\ӃQÿѭӡQJ
JLDRWK{QJGүQÿӃQGӵiQ1JRjLUDFiFGӵiQFѫ
VӣKҥWҫQJYjYLӋFTX\KRҥFKOҥL6kQED\*LD/kP
FiFKGӵiQNKRҧQJNPQKҩWÿӏQKVӁPDQJOҥL
QKLӅXWKXұQOӧLFKRGӵiQ
7ҥLWKӡLÿLӇPWӹOӋVӣKӳXFӫD9LQFRP
WҥL9LQFRP/RQJ%LrQOj
BÁO CÁO THƯỜNG NIÊN 2011
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BÁO CÁO THƯỜNG NIÊN 2011
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*UHHQ&LW\

4XұQ73+ӗ&Kt0LQK
'ӵ iQ *UHHQ &LW\ QҵP WUrQ NKX ÿҩW UӝQJ KѫQ
 KD WURQJ NKX YӵF ÿѭӧF TX\ KRҥFK ÿӇ WUӣ
WKjQKNKX ÿ{ WKӏNKRDKӑFF{QJ QJKӋ YjVLQK
WKiLFӫD73+ӗ&Kt0LQK
9LQFRPGӵNLӃQVӁSKiWWULӇQ*UHHQ&LW\WKjQKNKX
ÿ{WKӏOӟQEDRJӗPFiFELӋWWKӵVLQKWKiLFăQKӝ
7770EӋQKYLӋQYjWUѭӡQJKӑFÿDQ[HQYӟLNK{QJ
JLDQPӣFӫDPһWQѭӟFYjFk\[DQK0өFÿtFKFӫD
GӵiQOjWҥR UD PӝW P{L WUѭӡQJ VӕQJFKҩWOѭӧQJ
FDRWҥRÿLӅXNLӋQWKXұQOӧLFKRQJѭӡLGkQWLӃSFұQ
FiF GӏFK Yө Yj WLӋQ QJKL TXDQ WUӑQJ 9LӋF KRjQ
WKjQKFiFGӵiQFѫVӣKҥWҫQJ[XQJTXDQKFNJQJ
QKѭYDLWUzQJj\FjQJTXDQWUӑQJFӫD4XұQÿӕL
YӟL73 +ӗ&Kt0LQKQKҩW ÿӏQK VӁWҥRQKLӅXÿLӅX
NLӋQWKXұQOӧLFKRGӵiQ
7ҥLWKӡLÿLӇPWӹOӋVӣKӳXFӫD9LQFRP
WҥL*UHHQ&LW\Oj
7ҥLWKӡLÿLӇPVDXNKLQKұQViSQKұS
9LQSHDUOWӹOӋVӣKӳXFӫD9LQFRPWҥL*UHHQ&LW\
Oj
DỰ ÁN ĐANG PHÁT TRIỂN
0һFGSKҧLÿӕLPһW
YӟLUҩWQKLӅXNKy
NKăQFKXQJFӫDQӅQ
NLQKWӃ9LQFRPÿm
NӏSKRjQWKjQKÿѭӧF
PӝWNKӕLOѭӧQJF{QJ
YLӋFNӹOөFYjNKpS
OҥLQăPYӟL

QKLӅXWKjQKTXҧYj
VӵNLӋQÿiQJQKӟ
WKӵF Vӵ OjPӝWQăPNKy NKăQ FӫD
QӅQ NLQK WӃ 9LӋW 1DP QyL FKXQJ Yj FӫD
QJjQKEҩWÿӝQJVҧQQyLULrQJ7ӕFÿӝWăQJ
WәQJVҧQSKҭPWURQJQѭӟFQăPOj
WX\WKҩSKѫQPӭFWăQJFӫD
QăPQKѭQJWURQJÿLӅXNLӋQWuQKKuQK
VҧQ [XҩW UҩW NKy NKăQ Yj Fҧ QѭӟF WұS
WUXQJѭXWLrQNLӅPFKӃOҥPSKiWәQÿӏQK
NLQK WӃ Yƭ P{ WKu PӭF WăQJ WUѭӣQJ WUrQ
ÿѭӧFQKұQÿӏQKOjNKiFDRYjKӧS
1JKӏTX\ӃWYӅQKӳQJJLҧLSKiSFKӫ\ӃX
әQÿӏQKNLQKWӃYƭP{FӫD&KtQKSKӫÿѭӧF
EDQ KjQK YӟL KjQJ ORҥW FRQ Vӕ Yj ELӋQ
SKiSÿѭӧFFRLOj³FӭQJUҳQ´ÿӇÿLӅXKjQK
FKtQK ViFK WjL NKyD WLӅQ WӋ FKһW FKӁ
QKѭQJ OLQK KRҥW FҳW JLҧP PҥQK ÿҫX Wѭ
F{QJ« FҧL WKLӋQ NLQK WӃYƭ P{ Yj SKҫQ
QjRSKiWKX\WiFGөQJ/ҥPSKiWOmLVXҩW
YjWӹJLiÿӃQFXӕLQăPÿmGҫQәQÿӏQK
7uQKKuQKNLQKWӃ
YƭP{QăP
&y WKӇ QyL Oj PӝW QăP WKӵF Vӵ
NKy NKăQ FӫD WKӏ WUѭӡQJ EҩW ÿӝQJ VҧQ
9LӋW 1DP *Li QKj ÿҩW QKLӅX QѫL JLҧP
PҥQK WKӏ WUѭӡQJ ÿyQJ EăQJ WUrQ GLӋQ
UӝQJYjJLӟLNLQKGRDQKEҩWÿӝQJVҧQNӃW
WK~F QăP WURQJ WuQK WUҥQJ ³EL ÿiW´ QKҩW
WURQJNKRҧQJQăPWUӣOҥLÿk\

7URQJ OƭQK YΉF FKR WKXr 7770 QJXӗQ
FXQJ WăQJ WURQJ QăP ÿm OjP JLҧP NKҧ
QăQJWăQJJLiPһFGQKXFҫXYjQăQJ
OӵFPXD VҳP WҥL FiFNKX YӵF WUXQJWkP
YүQGX\WUuNKiWӕW1KӳQJ7770FDRFҩS
ӣNKXYӵFWUXQJWkPKLӋQWҥLYүQFyVӭF
KҩSGүQOӟQYӟLWKӏWUѭӡQJ
0ӝWQăPNKyNKăQ
FӫDQJjQKEҩWÿӝQJVҧQ
7URQJOƭQKYΉFFKRWKXrYăQSKzQJQJXӗQ
FXQJ VjQ YăQ SKzQJ WLӃS WөF JLD WăQJ
PҥQKWURQJNKLQJXӗQFҫXNK{QJFyQKLӅX
NKӣLVҳFGүQÿӃQYLӋFJLiWKXrYăQSKzQJ
WLӃSWөFVөWJLҧPӣWҩWFҧFiFSKkQKҥQJ
WURQJVXӕWFҧQăPÿһFELӋWOjTXê
7Kӏ WUѭӡQJ OҫQ ÿҫX WLrQ FKӭQJ NLӃQ Vӵ
JLҧP JLi Yj WUӕQJ VjQ FӫD PӝW Vӕ YăQ
SKzQJFDRFҩSNKXYӵFWUXQJWkP+j1ӝL
Yj73+ӗ&Kt0LQK9ăQSKzQJKҥQJ$Yj
KҥQJ%FyVӵVөWJLҧPYӅJLiOӟQQKҩWVR
YӟLYăQSKzQJKҥQJ&YjFiFYăQSKzQJ
GRWѭQKkQ[k\GӵQJOjQăPPjWKӏ
WUѭӡQJ YăQ SKzQJ FKR WKXrWLӃS WөF ҧP
ÿҥPYjJLҧPJLi
1ӱDÿҫXQăPWKͣWÚ͵QJFăQKͱYj
EL͟W WKΉ +j 1ӝLYүQ WLӃS ÿj WăQJJLi Wӯ
FXӕLQăPWҥLQKLӅXNKXYӵFJLiEҩW
ÿӝQJVҧQWҥLPӝWVӕGӵiQFyYӏWUtWӕWYj
FKӫÿҫXWѭX\WtQFy[XKѭӟQJWăQJQKҽ
NKRҧQJ  7ӯ NKRҧQJ JLӳD QăP

WUѭӟF ÿӝQJ WKiL VLӃW FKһW WtQ GөQJ FӫD
1JkQKjQJQKjQѭӟFWKӏWUѭӡQJEҩWÿӝQJ
VҧQ ÿm KRjQ WRjQ FKҩP GӭW FKXӛL QJj\
WăQJJLiYjEѭӟFYjRJLDLÿRҥQÿyQJEăQJ
NKL WtQK WKDQK NKRҧQ JLҧP V~W QKX FҫX
JLҧPOmLVXҩWFDRYjNKyNKăQWURQJWuP
NLӃPQJXӗQYӕQ/jQVyQJJLҧPJLiEiQ
WKiRFҳWOӛÿmFKLSKӕLQKLӅXTX\ӃWÿӏQK
WUrQ WKӏ WUѭӡQJ EҩW ÿӝQJ VҧQ QKҩW Oj ӣ
SKkQNK~FQKjFKXQJFѭ1KLӅXFKӫÿҫX
Wѭ ÿm F{QJ Eӕ FiF FKtQK ViFK JLҧP JLi
EiQKRһFKӛWUӧOmLVXҩWFKRNKiFKKjQJ
WUҧWLӅQPӝWOҫQWKD\FKRYLӋFWUҧWLӅQWKHR
WLӃQÿӝGӵiQ
7URQJKRjQFҧQKWKӏWUѭӡQJELӃQÿӝQJiS
OӵFWjLFKtQKYjWKDQKNKRҧQNpPYүQFy
QKӳQJFKӫÿҫXWѭFyWLӅPOӵFÿӇWKLF{QJ
ÿҧPEҧR ÿ~QJ WLӃQ ÿӝ Yj ÿӫ VӭF FKӕQJ
FKӑLYӟLNKӫQJKRҧQJ
BÁO CÁO THƯỜNG NIÊN 2011
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.ӃWWK~FQăPGRDQKWKXKӧSQKҩWWӯKRҥW
ÿӝQJNLQKGRDQK+Ĉ.'FӫD9LQFRPÿҥW
WӹÿӗQJOӧLQKXұQVDXWKXӃÿҥWWӹÿӗQJ
7URQJQăPPһFGWKӏWUѭӡQJFKRWKXrEҩW
ÿӝQJ VҧQ NK{QJ Pҩ\ ViQJ VӫD FiF WzD QKj
9LQFRP&HQWHUWҥL+j1ӝLYүQÿҥWGRDQKWKXәQ
ÿӏQKYjWӹOӋFKRWKXrJҫQ&KXӛL7770
9LQFRP&HQWHUWҥL+j1ӝLYj73+ӗ&Kt0LQK

OLrQ WөF ÿѭӧF QkQJ FҩS YjOX{Q GX\ WUu OѭӧQJ
NKiFKPXDVҳPӣPӭFFDRĈ~QJGӏSJLiQJVLQK
QăP77709LQFRP&HQWHU/RQJ%LrQWUrQ
GLӋQWtFKKѫQP
2
FKtQKWKӭFÿLYjRKRҥW
ÿӝQJ Wӹ OӋFKR WKXr ÿm ÿҥW  QJD\ WURQJ
QJj\ ÿҫX NKDL WUѭѫQJ Ĉk\ Oj EѭӟF WLӃQ PӟL
WURQJ NӃ KRҥFK SKiW WULӇQ FKXӛL 7770 PDQJ
WKѭѫQJ KLӋX 9LQFRP &HQWHU Yj 9LQFRP 0HJD
0DOOGӵNLӃQÿҥWWULӋXP
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WURQJYzQJQăPWӟL
FӫD9LQFRPWҥL9LӋW1DP
7URQJOƭQKYӵFEiQKjQJ9LQFRPÿmJһWKiL
ÿѭӧF WKjQK F{QJ QJRjL PRQJ ÿӧL YӟL YLӋF
FKjREiQFiFFăQKӝWҥLGӵiQ7LPHV&LW\Yj
Gӵ iQ %LӋW WKӵ ÿһF ELӋW FDR FҩS 9LQFRP
9LOODJHWҥL+j1ӝL+ѫQFăQKӝWҥLGӵiQ
7LPHV&LW\ÿmÿѭӧFNKiFKKjQJÿăQJNêPXD
QJD\WURQJWXҫQÿҫXPӣEiQOjPӝWFRQVӕ
WKӵFVӵҩQWѭӧQJWURQJEӕLFҧQKWKӏWUѭӡQJҧP
ÿҥPQăP
7URQJOƭQKYӵFWKLF{QJNKҭQWUѭѫQJYjTX\ӃW
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WULӇQNKDLPҥQKPӁFӫD9LQFRPWUrQFҧQѭӟF
WKiQJYjGӵiQWUӑQJÿLӇPEҩWFKҩSQKLӅXNKy
NKăQF{QJWiFWKLF{QJ[k\GӵQJWҥLWҩWFҧFiF
F{QJWUѭӡQJÿӅXKRjQWҩWWLӃQÿӝÿӅUD'ӵiQ
%ӋQK YLӋQ ÿD NKRD 4XӕF WӃ 9LQPHF WҥL 7LPHV

&LW\ ÿѭӧF NKDL WUѭѫQJ YjR ÿҫX WKiQJ
VDXKѫQWKiQJWKLF{QJJLDLÿRҥQ,FӫDGӵiQ
9LQFRP9LOODJHYӟLTXҫQWKӇELӋWWKӵWUrQGLӋQ
WtFK  KD FQJ 7770 9LQFRP &HQWHU /RQJ
%LrQÿѭӧFNKDLWUѭѫQJYjÿLYjRKRҥWÿӝQJQJj\
VDX KѫQ  WKiQJ [k\GӵQJ WӕF ÿӝ WULӇQ
NKDLPҥQKPӁWҥLFiFGӵiQ5R\DO&LW\7LPHV
&LW\ Yj 9LQFRP &HQWHU $73 +ӗ &Kt 0LQK Oj
QKӳQJWKjQKTXҧOӟQPj9LQFRPÿmÿҥWÿѭӧF
WURQJQăP
PӝWQăPQӛOӵFYѭӧW
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YjVӵNLӋQOӟQ
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Ĉ+&Ĉ EҩW WKѭӡQJ WK{QJ TXD NӃ KRҥFK TXDQ
WUӑQJViSQKұS&{QJW\&39LQSHDUOYjR&{QJW\
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VҧQYjGXOӏFKQJKӍGѭӥQJKjQJÿҫX9LӋW1DPOj
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SKiWKX\VӭFPҥQKWәQJKӧS
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YұQKӝLPӟL
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WKӏWUѭӡQJ9LӋW1DP
7URQJQăP9LQFRP Yj9LQSHDUOÿmÿӗQJ
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QKyPWKѭѫQJKLӋXFDRFҩSWҥL9LӋW1DP7KHR

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WkPPXDVҳPFyÿҷQJFҩS4XӕFWӃFDRFҩSYj
VDQJWUӑQJFyYӏWUtÿҳFÿӏDYӟLGLӋQWtFKGѭӟL
 P
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NK{QJJLDQPXDVҳPJLҧLWUtҭPWKӵFYjWKѭ
JLmQKRjQKҧRFyGLӋQWtFKWUrQP
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GӵÿӏQKÿҫXWѭNKRҧQJ7770YӟLWәQJGLӋQ
WtFK KѫQ  WULӋX P
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 ÿҥW WLrX FKXҭQ 4XӕF WӃ
FKLӃPNKRҧQJWKӏSKҫQWKӏWUѭӡQJEiQOҿWҥL
9LӋW1DP +Ӌ WKӕQJ EҩWÿӝQJVҧQQJKӍGѭӥQJ
9LQSHDUOÿӃQQăPVӁFyNKRҧQJWәKӧS
GXOӏFKÿҥWWLrXFKXҭQWӯVDRWUӣOrQWUrQNKҳS
9LӋW 1DP %DR JӗP  GzQJ WKѭѫQJ KLӋX
9LQSHDUO /X[XU\ GzQJ VҧQ SKҭP ÿһF ELӋW FDR
FҩSGjQKFKRFiFNKXQJKӍGѭӥQJÿѭӧFÿҫXWѭ
KӋWKӕQJKҥWҫQJWUDQJWKLӃWEӏKҥQJVDQJYӏWUt
WX\ӋW ÿҽS YӟL Vӵ NKiF ELӋW YѭӧW WUӝL YӅ ÿҷQJ
FҩSYj9LQSHDUO5HVRUWGzQJVҧQSKҭPGXOӏFK
QJKӍGѭӥQJÿҷQJFҩSVDRWULӇQNKDLWҥLFiFÿӏD
GDQKGXOӏFKQәLWLӃQJWҥL9LӋW1DPQKӳQJQѫLFy
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ÿmLYӅNKtKұX

7URQJGjLKҥQWKӏWUѭӡQJEҩWÿӝQJVҧQ9LӋW1DP
YүQFyQKLӅXFѫKӝLSKiWWULӇQQKӡQKӳQJWKD\
ÿәLWtFKFӵFYӅÿLӅXWLӃWNLQKWӃYƭP{FӫD&KtQK
SKӫFҩXWU~FÿһFWtQKTX\P{QKkQNKҭXKӑF
YjQKXFҫX WKӵF Vӵ YӅ QKjӣFӫD QJѭӡL GkQ
1ăPÿmEҳWÿҫXYӟLQKLӅXNKyNKăQWURQJ
EӕLFҧQKFKXQJFӫDQӅQNLQKWӃYjÿѭӧFGӵEiR
VӁFyQKLӅXGLӉQELӃQNKyOѭӡQJ7KӏWUѭӡQJEҩW
ÿӝQJ VҧQ VӁ WLӃS WөF SKҧL ÿӕL PһW YӟL QKLӅX
WKiFKWKӭFQKѭFKLSKtYӕQFDRFҥQKWUDQKYj
QJXӗQ FXQJ YӟL FiF VҧQ SKҭP ÿD GҥQJ QJj\
FjQJOӟQ
9ӟL9LQFRPQăPOjPӝWQăPEҧQOӅYӟL
QKLӅX NӃ KRҥFK ÿӇ SKiW KX\ QӝL OӵF FKXҭQ Eӏ
FKRPӝWWѭѫQJODLSKiWWULӇQYӳQJFKҳF9ӟLWLQK
WKҫQ ÿy QăP  ErQ FҥQK QKLӋP Yө WUӑQJ
WkPOjWLӃSWөFSKiWKX\WӕLÿDPӑLQJXӗQOӵFÿӇ
WULӇQNKDLÿ~QJWLӃQÿӝÿӅUDÿӕLYӟLFiFGӵiQ
ÿDQJ [k\ GӵQJ F{QJ W\ VӁ FK~ WUӑQJ ÿҫX Wѭ
FKLӅXVkXFKRQJXӗQQKkQOӵFFӫQJFӕEӝPi\
WRjQ7ұSÿRjQWKHRFKLӃQOѭӧFViSQKұSPӟL
KѭӟQJWӟLPөFWLrXWUӣWKjQKPӝWWURQJQKӳQJ
7ұSÿRjQNLQKWӃWѭQKkQKjQJÿҫXWҥL9LӋW1DP
YѭѫQWҫPUDNKXYӵF
BÁO CÁO CỦA HỘI ĐỒNG QUẢN TRỊ
BÁO CÁO THƯỜNG NIÊN 2011
CÔNG TY CỔ PHẦN VINCOM
43
 ;k\ GӵQJ WKѭѫQJ KLӋX PӟL  7ұS ÿRjQ
9LQJURXSYjWLӃSWөFSKiWWULӇQNKҷQJÿӏQKFiF

WKѭѫQJKLӋXVҧQSKҫPJӗP9LQFRP9LQSHDUO
9LQPHF9LQFKDUP
0өFWLrXFKLӃQOѭӧFWUӣWKjQKPӝWWURQJQKӳQJ
7ұSÿRjQFyTX\P{YjWҫPYyFKjQJÿҫXWҥL
9LӋW1DP
0ӣUӝQJÿҫXWѭYjRFiFGӵiQEҩWÿӝQJYjGX
OӏFKQJKӍ GѭӥQJ FDRFҩS YӟL TX\ P{ OӟQ WҥL
QKӳQJYӏWUtÿҳFÿӏDÿӗQJWKӡLWӯQJEѭӟFPӣ
UӝQJSKkQNK~FWKӏWUѭӡQJÿDGҥQJFiFKuQK
WKӭFVҧQSKҭPÿӇWKXK~WNKiFKKjQJӣFiF
SKkQNK~FWKӏWUѭӡQJPөFWLrX
1kQJFDRFKҩWOѭӧQJGӏFKYөYjSKiWWULӇQNLQK
GRDQK QKҵP NKDL WKiF WӕL ÿD F{QJ VXҩW Vӱ
GөQJSKzQJYjGӏFKYөYXLFKѫLJLҧLWUtWҥLFiF
GӵiQQJKӍGѭӥQJPDQJWKѭѫQJKLӋX9LQSHDUO
ĈӏQKKѭӟQJNӃKRҥFKWURQJQăP
7LӃSWөFSKiWWULӇQKRҥWÿӝQJNLQKGRDQKYjFKR
WKXrQkQJFDRQăQJOӵFTXҧQGӵiQKLӋQ
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ĈҫXWѭFKLӅXVkXFKRQJXӗQQKkQOӵFFӫQJFӕ
EӝPi\QKkQVӵÿһFELӋWOjQKkQVӵFҩSFDR
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VXҩWWKҧQәL

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ĈӏQK KѭӟQJ WKӵF KLӋQ WURQJ
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7URQJQăP%DQ *LiP ÿӕF VӁ WULӇQ NKDL
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9LQFRP &HQWHU 9LQSHDUO /X[XU\ Yj 9LQSHDUO
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GӵQJ QKѭ 5R\DO &LW\ 7LPHV &LW\ 9LQFRP
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Ĉҭ\PҥQKNӃKRҥFK NLQKGRDQKYj WLӃSWKӏÿD
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
BÁO CÁO THƯỜNG NIÊN 2011
CÔNG TY CỔ PHẦN VINCOM
48
BÁO CÁO THƯỜNG NIÊN 2011
CÔNG TY CỔ PHẦN VINCOM
49
QUẢN TRỊ CÔNG TY
+RҥWÿӝQJFӫD+ӝLÿӗQJ4XҧQWUӏ
7URQJQăPKRҥWÿӝQJJLiPViWFӫD+Ĉ47
ÿӕLYӟL%DQ*LiPÿӕFÿѭӧFWKӵFKLӋQWKHRÿ~QJ
TX\ÿӏQKWҥLĈLӅXOӋ&{QJW\4X\FKӃTXҧQWUӏ&{QJ
W\FiFTX\ÿӏQKTX\FKӃTXҧQQӝLEӝYjSKiS
OXұWKLӋQKjQK
+Ĉ47 ÿm EDQ KjQK  QJKӏ TX\ӃW ÿӇ WK{QJ TXD
QKLӅXFKӫWUѭѫQJYjÿLӅXFKӍQKTXDQWUӑQJÿӕLYӟL
KRҥW ÿӝQJ Yj ÿӏQK KѭӟQJ SKiW WULӇQ FӫD 9LQFRP
EDRJӗP
7K{QJ TXD WăQJ 9ӕQÿLӅX OӋ GR FKX\ӇQÿәL WUiL
SKLӃX4XӕFWӃWKjQKFәSKҫQ
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SKҫQFӫD&{QJW\WURQJ&{QJW\&3&KӭQJNKRiQ
9LQFRP
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7ҥL Ĉ+&Ĉ WKѭӡQJ QLrQ QJj\  &{QJ W\
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WKѭӡQJQLrQQăPQJj\
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