MIRA
INFORM REPORT
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Report Date : |
17.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
COMIN
ASIA PTE LTD |
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Registered Office : |
No. 14
– 16, Ham Long Str, Hoan Kiem Dist, Hanoi city |
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Country : |
Vietnam |
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Date of Incorporation : |
1996 |
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Legal Form : |
Representative
Office of a Foreign Company |
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Line of Business : |
Market research. Promoting and providing consultancy services on designing, constructing, maintaining system of machineries and equipment for construction works |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Usually
correct |
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Litigation : |
Clear |
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SUBJECT
IDENTIFICATION & LEGAL FORM |
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English Name
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COMIN ASIA PTE LTD |
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Vietnamese name |
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VAN PHONG DAI
DIEN CONG TY COMIN ASIA PTE LTD |
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Founded |
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1996 |
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Type of Business |
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Representative office of a foreign company |
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Establishment
license |
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No.
532/TMGP |
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Issued
on |
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April
16, 1996 |
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Issued
by |
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Hanoi
Trade Department |
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Registered
Capital |
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N/A |
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Tax
code |
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0101791573 |
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Total
Employees |
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More
than 80 staffs in two offices in Hanoi and Hochiminh city |
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Qualification |
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Fairly
good |
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ADDRESSES |
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Head Office: |
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Address |
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No. 14 – 16, Ham Long Str, Hoan Kiem Dist, Hanoi city |
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Country |
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Vietnam |
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Tel |
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(84-4) 9439814 / 9439816 / 9439817 |
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Fax |
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(84-4) 9439812 |
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Website |
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Former head office |
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Address |
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No.8 Trang Thi Str, Hoan Kiem Dist, Hanoi City |
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Country |
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Vietnam |
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Tel |
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(84-4) 928 6522 |
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Fax |
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(84-4) 928 7313 |
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Note: The subject is the representative
office in Vietnam of Comin Asia Pte Ltd of Singapore. Comin Asia (Singapore)
established its representative office in Vietnam in both two cities: Hanoi
and Hochiminh city. Following is office in Hochiminh city: |
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Office in Hochiminh city |
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Address |
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No. 108 Cach Mang Thang Tam Str, Ward 7, Dist 3, Hochiminh city |
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Country |
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Vietnam |
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Tel |
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(84-8) 930 0425 |
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Fax |
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(84-8) 930 0426 |
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Note: After setting up representative
office, Comin Asia Pte Ltd (Singapore) also founded a company named Comin
Vietnam Company Limited in 1998. This company is now also located at the same
addresses and uses the same contact lines with the subject. Information about
this company is as follows: |
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English Name |
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COMIN VIETNAM
COMPANY LIMITED |
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Vietnamese Name |
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CONG TY TNHH COMIN VIETNAM |
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Type of Business |
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Foreign Invested Company |
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Foreign partner |
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Singapore |
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Established Decision |
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No. 34/GP-HN |
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Issued on |
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October 6th 1998 |
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Issued by |
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Hanoi People’s Committee |
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Legal Capital |
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USD 300,000 |
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Investment Capital |
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USD 1,000,000 |
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Investment Duration |
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15 years |
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Tax Code No. |
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0100792655 |
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Office in Hanoi |
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No. 14 – 16, Ham Long Str, Hoan Kiem Dist,
Hanoi city |
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Office in Hochiminh |
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No. 108 Cach mang Thang Tam Str, Ward 7,
Dist, 3, Hochiminh city |
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Main activities |
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-
Participating in bidding for designing, constructing and maintaining system
of machineries and equipment for construction works in Vietnam. - Providing technical services:
consultancy, renovation, installation design and implementation, supply of
spare parts and equipment, testing, commissioning, operator training for
mechanical and low, medium and high voltage electrical equipment, etc. |
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DIRECTORS |
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1. NAME |
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Mr. DOMINIQUE
CATRY |
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Position |
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Chief of representative office |
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Date of birth |
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1941 |
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Qualification |
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Engineer |
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Contact address |
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No. 14 – 16, Ham Long Str, Hoan Kiem Dist, Hanoi city, Vietnam |
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Nationality |
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French |
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Office tell |
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(84-4) 943 9800 |
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NAME |
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Mr. Phung Manh Duc
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Position |
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Project Manager (Comin Vietnam) |
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Contact address |
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No. 14 – 16, Ham Long Str, Hoan Kiem Dist,
Hanoi city, Vietnam |
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Nationality |
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Vietnamese |
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Notes: (Your given Project Manager - Mr. Phung Manh
Duc, is the Project Manager of Comin Vietnam. (Not Comin Asia) |
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BUSINESS NATURE AND
ACTIVITIES |
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According to Vietnam Business laws,
all representative offices of foreign companies are not allowed trading
activities. The subject is only registered to market, promote for its parent
company’s operations. -
Market
research -
Promoting
and providing consultancy services on designing, constructing, maintaining
system of machineries and equipment for construction works -
Providing
technical services consultancy, renovation, installation design and
implementation, supply of spare parts and equipment, testing, commissioning,
and so on. |
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IMPORT & EXPORT
ACTIVITIES |
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IMPORT: N/A |
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EXPORT: N/A |
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BANKERS |
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1. CALYON
CORPORATE AND INVESTMENT BANK- HANOI BRANCH |
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Address |
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FL.5th, Hanoi Tower Building, No.49 Hai Ba Trung Str, Hoan
Kiem Dist, Hanoi City, Vietnam |
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Tel |
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(84-4) 825 8101 |
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Fax |
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(84-4) 826 0080 |
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Account number (VND) |
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0040099-2150-000-VND |
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Foreign currency account |
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0040099-2150-000-USD |
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2. BANK FOR FOREIGN
TRADE OF VIETNAM- THANH CONG BRANCH |
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Address |
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No.30-32 Lang Ha Str, Dong Da Dist, Hanoi City, Vietnam |
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Tel |
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(84-4) 776 1762 |
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Fax |
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(84-4) 776 1747 |
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SHAREHOLDER |
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The subject is representative office of Comin Asia Pte Ltd in
Singapore. Following is information about its parent company: |
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COMPANY NAME |
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COMIN ASIA PTE LTD |
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Address |
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17 Phillip Street, # 05-02 Grand Building,
Singapore 048695 |
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Country |
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Singapore |
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Tel |
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(65) 65387777 |
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Fax |
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(65) 65333227 |
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Website |
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PAYMENT HISTORY AND
EXPERIENCES |
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Trade Morality |
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Fair |
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Liquidity |
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Average |
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Previous Payments |
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Normal |
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Current
Payment Status |
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Average |
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Past Financial Situation |
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Average |
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Current Financial Situation |
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Fair |
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Illegal action |
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No recorded |
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Bankruptcy |
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No recorded |
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Reputation |
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Normal |
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Modes of payment |
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Through its corresponding banks |
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FINANCIAL DATA |
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The subject is the representative office of foreign company. So, its
financial statement is not available. Its financial status is depended on its
parent company in Singapore. |
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INTERPRETATION ON
THE SCORES |
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The subject is the
representative office of a Singapore company named Comin Asia Pte Ltd. Comin
Asia Pte., Ltd was established and has been operating under Singapore laws, and
now located at 17 Phillip Street, #
05-02 Grand Building, Singapore 048695. This company established its
representative office in Vietnam since 1996, based in two strategic cities:
Hanoi and Hochiminh city. At the moment, at the given address, the subject
and another company named Comin Vietnam Company share the same location, the
same contact lines and the same management board. Comin Vietnam Company was
set up in 1998 as a 100% foreign owned company which was invested from Comin
Asia Pte Ltd in Singapore. So, the subject and Comin Vietnam have the same
parent company. Currently, both the subject and Comin Vietnam company are
operating parallel and mutually. The
two ones sometimes exchanges the roles of one another for business purposes.
And the operations of these two entities are not clear. (Comin Vietnam
company is now focusing on installing
power projects, power products, industrial products, mechanical &
electrical contracting and maintenance services. Its customers are power
utilities, industrial park, heavy industry, power companies, telecom &
industry sectors, plants, hospital, office buildings, hotels, foreign
government organizations, etc…). Because the subject is the representative office, it is
not allowed to have trading activities. According to Vietnam business laws,
it is only permitted promoting, marketing and providing consultancy services
for its parent company’s operation. In Vietnam now, the trading activities
are carried out by Comin Vietnam company. The premises and facilities of the subject are fair. The
subject has two offices, one in Hanoi (No.14-16 Ham Long street, Hoan Kiem
district) and one in Hochiminh city (No.108 Cach Mang Thang Tam street,
district 3). These locations are also the addresses of Comin Vietnam company.
Currently, in Ha Noi office, there are about nearly 50 staffs, both of the
subject and Comin Vietnam and in Hochiminh office, this number is 40 persons.
The management board of the subject is fairly good. It shares the same
management board with Comin Vietnam company. Its managers are experienced
persons. The subject’s financial
situation is not available. Its finance is depended on parent company in
Singapore. However, the subject and Comin Vietnam company are operating not
very clearly. It has capacity to meet financial commitments if it is
guaranteed by its parent company. No caution needed for small and normal
business transactions. Indeed, you should make clearly in transaction between
the subject and Comin Vietnam Company. |
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RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
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56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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