Vietnam Industrial Investments : Voluntary Suspension Update

A.C.N. 063 656 333

A.B.N. 64 063 656 333

V I E T N A M I N D U S T R I A L I N V E S T M E N T S L I M I T E D

28 February 2020
Ms Madeleine Green
Adviser, Listings Compliance
Australian Securities Exchange
Level 40, Central Park
152-158 St Georges Terrace
PERTH WA 6000	By email: [e-mail]
Dear Ms Green
VOLUNTARY SUSPENSION UPDATE

Vietnam Industrial Investments Limited (VII or Company) refers to its previous voluntary suspension requests.

The Company also refers to the financial statements of VII and its controlled entities (Group) over the last three reporting periods which have either been qualified or a material uncertainty emphasised in relation to the following:

1. the valuation of the Group's loan, advances and receivable to Nam Thuan Investment Development Co Ltd (NTC) and the accuracy and completeness of disclosures in relation to the loan, advances and receivable;
2. the valuation of the Group's SSESTEEL cash generating unit property, plant and equipment and the accuracy and completeness of associated disclosures; and,
3. the material uncertainty in relation to the Group's going concern basis of preparation assumption.

As at the date of this release, the Company is not in a position to finalise its Appendix 4E for the year ended 31 December 2019. The audit process is ongoing and engagement with Group management is continuing. The outcome of this process is unknown and should sufficient audit evidence not be made available, this may result in a disclaimer of audit opinion on the financial statements for the year ended 31 December 2019.

The Board continues to assist the auditor with the audit process and seek that management facilitate the provision of information required in order to complete the appropriate audit procedures.

Until such time as the process concludes, VII's securities will continue to remain in suspension.

This announcement has been authorised by the Board of Directors.

Yours faithfully

Patricia Williams

Company Secretary

For further information, please contact:

Roger Sing-Leong Kwok

Chairman Non-Executive Director

Telephone no: [phone]

AUSTRALIA:	LEVEL 24 ALLENDALE SQUARE, 77 ST GEORGES TERRACE, PERTH 6000 WA.
	PO BOX Z5343 ST GEORGES TERRACE WA 6831
	PH: (61 8) 6141 3244 FAX: [phone] WEBSITE : www.vii.net.au