SURVEILLANCE RESULT OF I.P.A INVESTMENT JOINT STOCK COMPANY FOR 2024

* 6 MONTH SURVEILLANCE RATING RESULT (First year of monitoring): vnBBB+

* OUTLOOK: Stable

* DATE OF RATING CERTIFICATION ISSUANCE: December 13, 2024

* BUSINESS LINE: Investment Holding Company

* RATING COMMITTEE:

Mr. Nguyen Phi Long, ACCA

Mr. Nguyen Duc Phu, MSc

Mr. Le Hoang Quan, MBA

* ANALYSTS:

Mr. Bui Van Long, MSc

Mr. Vu Thien Phong, ACCA

* INFORMATION OF INTEREST CONFLICT

– Saigon Ratings’ share ownership in I.P.A Investment JSC: None

– Saigon Ratings’ bond ownership in I.P.A Investment JSC: None

– Saigon Ratings’ other debt instrument ownership in I.P.A Investment JSC: None

– Saigon Ratings employee’s share ownership in I.P.A Investment JSC: None

Saigon Ratings is committed to the implementation of credit rating independently and objectively.

Saigon Ratings issued a credit rating report as a reference information; it is not an investment or capital contribution recommendation for debt instruments issued by the rated company (I.P.A Investment JSC).

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