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TỔNG QUAN
BÁO CÁO THƯỜNG NIÊN 2011
CÔNG TY CỔ PHẦN VINCOM
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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

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

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
FӫD9LӋW1DP
BÁO CÁO THƯỜNG NIÊN 2011
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10
BÁO CÁO THƯỜNG NIÊN 2011
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11
LỊCH SỬ HÌNH THÀNH VÀ PHÁT TRIỂN
BÁO CÁO THƯỜNG NIÊN 2011
CÔNG TY CỔ PHẦN VINCOM
12
BÁO CÁO THƯỜNG NIÊN 2011
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13

GөQJ Wӵ ÿӝQJ KyD WKLӃW Eӏ EҧR YӋ SKzQJ FKӕQJ
WUӝPWӵÿӝQJKjQJQ{QJOkPWKӫ\KҧLVҧQWUӯORҥL
OkPVҧQ1KjQѭӟFFҩP
ĈҥLPXDÿҥLEiQNêJӱLKjQJKyD
7ѭYҩQÿҫXWѭNK{QJEDRJӗPWѭYҩQSKiSOXұW
&KRWKXrQKjFyWUDQJEӏNӻWKXұWÿһFELӋWSKzQJ
KzDQKҥFQKjKiWKӝLWUѭӡQJSKzQJFѭӟLWUѭӡQJ
TXD\UҥSFKLӃXSKLP
4XҧQJFiRYjFiFGӏFKYөOLrQTXDQÿӃQTXҧQJ
FiR
7әFKӭFKӝLFKӧWULӇQOmPWKѭѫQJPҥL
'ӏFKYөWUDQJWUtNKҭXKLӋX
'ӏFKYөYӋVLQKGLӋWF{QWUQJFKӕQJPӕLPӑW
'ӏFKYөWU{QJJLӳ[H{W{[HPi\[HÿҥS
;k\GӵQJNLQKGRDQKVkQJROIYjFiFGӏFKYөOLrQTXDQ
ÿӃQVkQJROI
;k\GӵQJNLQKGRDQKNKXGXOӏFKVLQKWKiLYjFiFGӏFKYө
OLrQTXDQÿӃQNKXGXOӏFKVLQKWKiL
.LQKGRDQKF{QJYLrQFk\[DQKF{QJYLrQQѭӟFYѭӡQ
WUҥLJLҧLWUt
'ӏFKYөP{LJLӟLEҩWÿӝQJVҧQÿӏQKJLiEҩWÿӝQJVҧQVjQ
JLDRGӏFKEҩWÿӝQJVҧQWѭYҩQEҩWÿӝQJVҧQÿҩXJLiEҩW
ÿӝQJVҧQTXҧQJFiREҩWÿӝQJVҧQTXҧQEҩWÿӝQJVҧQ
BÁO CÁO THƯỜNG NIÊN 2011
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15
TÌNH HÌNH TÀI CHÍNH

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SKҫQ7770FiFFăQKӝWiLÿӏQKFѭFKRGӵiQ9LQFRP&HQWHU$73+ӗ&Kt0LQKYjNKXYăQSKzQJWҥL9LQFRP9LOODJH
7URQJQăP&{QJW\ÿmWKӵFKLӋQQKLӅXKӧSÿӗQJEiQEҩWÿӝQJVҧQWҥLFiFGӵiQ5R\DO&LW\7LPHV&LW\9LQFRP9LOODJH
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WѭѫQJӭQJWURQJQăP
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'RDQKWKXWKXҫQWӹÿӗQJ
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7


BÁO CÁO THƯỜNG NIÊN 2011
CÔNG TY CỔ PHẦN VINCOM
17
.KӣLF{QJ[k\GӵQJ.KXÿ{WKӏSKӭFKӧS7LPHV&LW\
ĈѭӧF WKLӃW NӃ Yj TX\ KRҥFK WKHR P{ KuQK NLӃQ WU~F ÿҫ\
WKjQKF{QJ FӫD4XӕFÿҧR6LQJDSRUH 7LPHV&LW\7KjQK
SKӕFӫDWKӡLÿҥLPӟLOjPӝWNK{QJJLDQVӕQJWѭӣQJQѫL
NӃWKӧSKjLKzDQKӳQJQpWÿһFVҳFFӫDSKRQJFiFKÈỈX
YӟLFiFF{QJWUuQKKLӋQÿҥLQKҵPPDQJOҥLPӝWFXӝFVӕQJ
QăQJ ÿӝQJ WLӋQ QJKL 7LPHV &LW\ ÿѭӧF NKӣL F{QJ Wӯ ÿҫX
QăPWUrQGLӋQWtFKKѫQKDWҥL0LQK.KDL4XұQ
+DL%j7UѭQJ+j1ӝL%rQFҥQKQKӳQJKҥQJPөFQKѭNKX
YXLFKѫL JLҧLWUtTXҫQ WKӇUҥSFKLӃXSKLP EmLÿӛ[H WURQJ
QKj«WѭѫQJWӵӣGӵiQ5R\DO&LW\7LPHV&LW\FzQQәLEұW
QKӡ Fy .KX WKӫ\ FXQJ Yj %ӋQK YLӋQ ĈD NKRD 4XӕF WӃ
9LQPHFWKHRP{KuQKEӋQKYLӋQNKiFKVҥQOҫQÿҫX[XҩW
KLӋQWҥL7Kӫÿ{YӟLTX\P{YjWLrXFKXҭQ4XӕFWӃ7KHRNӃ
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OѭӧWÿѭӧFKRjQWKLӋQYjEjQJLDRFKRNKiFKKjQJWӯFXӕL
QăPWURQJÿyKҥQJ PөF EӋQK YLӋQ ÿm NKDL WUѭѫQJ
ÿ~QJWKHRNӃKRҥFKYjRWKiQJ
7KiQJ
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KRҥWÿӝQJVjQJLDRGӏFKEҩWÿӝQJVҧQ9LQFRPWҥLWҫQJ
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UӝQJKѫQP
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WKLӃWNӃKLӋQÿҥLÿѭӧFFKLDWKjQKQKLӅX
NKXYӵFQKѭNKXJLDRGӏFKFKXQJJLDRGӏFKFKRQKjÿҫXWѭ
9,3WѭYҩQ«7ҥLÿk\FXQJFҩSWҩWFҧGӏFKYөWLӋQtFKSK

FyGLӋQWtFKGѭӟLP
2
ĈһFÿLӇPFKXQJFӫD9LQFRP
&HQWHUOjQKӳQJWUXQJWkPPXDVҳPFDRFҩSYӏWUtÿҳFÿӏD
WҥLFiFÿ{WKӏ7KHRÿy9LQFRP&LW\7RZHUVÿѭӧFÿәLWrQ
WKjQK 9LQFRP &HQWHU +j 1ӝL 9LQFRP &HQWHU /RQJ %LrQ
ÿѭӧF NKiQK WKjQK FXӕL WKiQJ  0ӝW Vӕ FiF FiF
7770PӟLWURQJKӋWKӕQJQj\FNJQJVӁÿѭӧFUDPҳWWURQJ
QKӳQJQăPWӟLQKѭ9LQFRP&HQWHU$NӃWQӕLOLrQWK{QJYӟL
9LQFRP &HQWHU % 73 +ӗ &Kt 0LQK 9LQFRP &HQWHU +ҧL
3KzQJ %rQ FҥQK ÿy WKѭѫQJ KLӋX 9LQFRP 0HJD 0DOO VӁ
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QKѭVkQWUѭӧWEăQJWKӫ\FXQJUҥSFKLӃXSKLPWKӃJLӟLWUz
FKѫL+LӋQ WҥL 9LQFRP ÿDQJSKiW WULӇQ 7770 WURQJ KӋ
WKӕQJ0HJD0DOOWҥL+j1ӝLOj9LQFRP0HJD0DOO7LPHV
&LW\WҥL0LQK.KDLYj9LQFRP0HJD0DOO5R\DO&LW\WҥL
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7KiQJ
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WKӏFyWLrXFKXҭQÿҷQJFҩS4XӕFWӃWҥL9LӋW1DPNK{QJFKӍ
PDQJOҥLP{LWUѭӡQJVLQKWKiLWѭӣQJPjFzQFDPNӃWPӝW
FKҩWOѭӧQJGӏFKYөNLӇXPүXYjKRjQKҧRĈѭӧFYtOjWKjQK
SKӕ9HQLFHWKXQKӓWURQJOzQJ+j1ӝLQKӡNLӃQWU~FÿһFELӋW
YӟLKӋWKӕQJNrQKÿjRYjKӗQѭӟFUӝQJOӟQ9LQFRP9LOODJH
7KiQJ

OӏFKNKiFKVҥQYXLFKѫLJLҧLWUt
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NKӕLYăQSKzQJFӫDWKiS%9LQFRP&HQWHU+j1ӝL
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WKѭѫQJ7HFKFRPEDQN' 7KHR ÿy 7HFKFRPEDQNVӁ WLӃS
TXҧQWRjQEӝGLӋQWtFKNKXYӵFYăQSKzQJWӯWҫQJWUӣOrQ
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KӋWKӕQJJLDQKjQJPXDVҳPҭPWKӵFUҥSFKLӃXSKLPVLrX
WKӏYjFiFGӏFKYөWLӋQtFKF{QJFӝQJNKiFFӫDWzDQKjYүQ
WKXӝFWjLVҧQFӫD9LQFRP
7KiQJ
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CHỨC NĂNG CỦA BỘ MÁY QUẢN LÝ CÔNG TY
BÁO CÁO THƯỜNG NIÊN 2011
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NHÂN SỰ
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BÁO CÁO THƯỜNG NIÊN 2011
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BÁO CÁO THƯỜNG NIÊN 2011
CÔNG TY CỔ PHẦN VINCOM
31
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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

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

&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

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
CÔNG TY CỔ PHẦN VINCOM
40
BÁO CÁO THƯỜNG NIÊN 2011
CÔNG TY CỔ PHẦN VINCOM
41
*UHHQ&LW\

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
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WăQJYӕQÿLӅXOӋWӯÿӗQJOrQ
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ÿӗQJFә SKLӃX 9LӋF FKX\ӇQ ÿәL Qj\ OjP WăQJ
YӕQ FKӫ Vӣ KӳX FӫD &{QJ W\ WKrP
ÿӗQJ9LӋW1DPWURQJÿyWăQJ
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WKһQJGѭYӕQFәSKҫQVDXNKLÿmJLҧPWUӯSKҫQ
FKL SKt SKiW KjQK WUiL SKLӃX FKX\ӇQ ÿәL Oj
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VXҩWWKҧQәL
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