MIRA
INFORM REPORT
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Report Date : |
6th March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
THIEN MINH DESIGN PRINTING COMPANY LIMITED |
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Registered Office : |
75 Dien Bien Phu Str, DaKao Ward, Dist 1, Hochiminh City |
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Country : |
Vietnam |
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Financials (as on) : |
2005 |
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Date of Incorporation : |
2002 |
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Com. Reg. No.: |
4102009657 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in
Printing Design, Printing in packaging, Trading in products, materials in
printing industry, Printing label, catalogue, brochure, calendar, office
form, poster, sticker, brochure, folder , … |
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 |
SUBJECT IDENTIFICATION &
LEGAL FORM
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English Name |
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THIEN MINH DESIGN PRINTING COMPANY LIMITED |
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Vietnamese name |
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CONG TY TNHH THIET
KE TAO MAU - IN BAO BI THIEN MINH |
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Trade Name |
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THIEN MINH DESIGN
PRINTING CO., LTD |
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Abbreviated Name |
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THIEN MINH CO.,
LTD |
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Type of Business |
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Limited Liability Company |
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Founded |
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2002 |
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Business Registration No. |
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4102009657 |
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Date of Issuance |
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May 3rd 2002 |
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Place of Issuance |
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Planning and Investment Department of Hochiminh City |
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Registered Capital |
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1,000,000,000 VND |
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Tax Code |
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0302604216 |
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Total Employees |
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50 employees |
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Qualification |
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Normal |
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Note: Business
registration of the subject was adjusted 02 times. The latest one was on
February 15th 2006. |
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ADDRESS
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Head Office |
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Address |
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75 Dien Bien Phu Str, DaKao Ward, Dist 1, Hochiminh City |
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Country |
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Vietnam |
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Tel |
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(84-8) 8242591 - 9106468 |
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Fax |
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(84-8) 9106468 |
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DIRECTORS
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1. NAME |
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Mr. NGUYEN VAN CONG |
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Position |
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Director |
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Date of Birth |
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October 20th
1964 |
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ID No. |
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022636046 |
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Issued on |
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August 16th
1994 |
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Issued by |
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Police Station of
Hochiminh City |
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Resident |
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Lot II, 016 Nguyen
Dinh Chieu Str, DaKao Ward, Dist 1, Hochiminh City |
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Nationality |
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Vietnamese |
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2. NAME |
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Ms. TRUONG LE HANG |
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Position |
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Administrative
Officer |
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Resident |
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Hochiminh City |
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Nationality |
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Vietnamese |
BUSINESS NATURE AND ACTIVITIES
The subject
specializes in the following lines of business:
Printing Design.
Printing in
packaging.
Trading in products,
materials in printing industry.
Printing label, catalogue, brochure, calendar, office form, poster, sticker, brochure, folder , …
IMPORT & EXPORT ACTIVITIES
IMPORT: The subject imports materials from Hong Kong.
EXPORT: Products of the subject are exported to European countries, USA…
BANKERS
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1. ASIA COMMERCIAL JOINT STOCK BANK (ACB BANK) – Saigon Branch |
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Address |
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No. 30 Mac Dinh Chi Str, Da Kao Ward, Dist 1, Hochiminh City |
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Country |
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Vietnam |
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Tel |
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(84-8) 8243770 |
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Fax |
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(84-8) 8243946 |
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Telex |
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813158ACBVT |
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Swift |
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ASCBVNVX |
SHAREHOLDERS
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1. NAME |
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Mr. NGUYEN VAN CONG |
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Position |
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Director |
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Date of Birth |
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October 20th 1964 |
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ID No. |
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022636046 |
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Issued on |
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August 16th 1994 |
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Issued by |
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Police Station of Hochiminh City |
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Resident |
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Lot II, 016 Nguyen Dinh Chieu Str, DaKao Ward, Dist 1, Hochiminh City |
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Nationality |
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Vietnamese |
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Share |
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75% |
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Value |
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750,000,000 VND |
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2. NAME |
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Mr. HO DAC NHAN |
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Resident |
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109, Nguyen Van Troi
Quarter, Ward 17, Phu Nhuan Dist, Hochiminh City |
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Nationality |
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Vietnamese |
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Share |
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25% |
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Value |
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250,000,000 VND |
PAYMENT HISTORY AND EXPERIENCES
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Trade Morality |
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Average |
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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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Payment status |
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Normal |
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Past Financial Situation |
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Average |
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Current Financial Situation |
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Average |
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Litigation Data |
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No recorded |
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Bankruptcy |
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No recorded |
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Public opinion |
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Normal |
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Payment Methods |
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Direct payment or through its corresponding bank. Foreign remittance by letter of credit (L/C). |
FINANCIAL DATA
The full financial data of the subject is not available. Following are its highlight:
Unit: 1,000,000 VND
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Description |
2005 |
2004 |
2003 |
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Current assets
& Short term Investment |
1,480 |
531 |
103 |
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Fixed assets and
long-term investment |
200 |
571 |
636 |
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Total Assets |
1,680 |
1,102 |
739 |
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Payable |
423 |
893 |
545 |
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Owner’s Equity |
1,257 |
209 |
194 |
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Total Liability and
Equity |
1,680 |
1,102 |
739 |
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Total Revenue |
3,497 |
4,460 |
N/A |
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Deduction items |
0 |
0 |
- |
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Net Revenue |
3,497 |
4,460 |
- |
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Net Income From
business Activities |
-21 |
-70 |
- |
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Net Income From Financial
Operation |
-10 |
85 |
- |
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Irregular Profit |
0 |
0 |
- |
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Total pre-tax
Profit |
-31 |
15 |
- |
INTERPRETATION ON THE SCORES
Thien Minh is a Limited Liability Company. It was established in 2002 specializing in design and printing in packaging. It also trades in materials for printing industry.
The subject’s activities are fairly stable and busy at present time. It has close relationship with suppliers in Hong Kong. Clients of the subject are manufacturers in Vietnam. The subject also exports paper to foreign countries in accordance with clients’ requests. Its market share is normal. It is now on progress of looking for more partners.
Thien Minh is a small enterprise. Its position in the industry is still average.
Premises and facilities of the subject are normal. Its financial situation is average. However, business operation of the subject now is stable and gradually developing. Along with strong growth of Vietnam economy, the subject has bright potential of development.
In general, the subject is operating on the small scale. It is capable to meet small financial commitments. Caution needed for big business deals.
To be rated at B, the company’s stability is expected to be IMPAIRED by adverse changes in circumstances and economic conditions.
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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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)