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NTP - Expanding throughout the country - AGM Note

The AGM approved a PBT increase of 4.38% for 2014 in large part because the new factory in Nghe An (central Vietnam) started production in 4Q2013. As the factory services the central part of the country, NTP no longer needs to ship products from its northern factory (in Hai Phong), diminishing transportation costs and translating in improved NPM’s from 11.7% to 12.5% from 2014 onwards. The CTP factory also has advantageous tax incentives that will contribute to the NPAT growth of 12.9%.