MIRA
INFORM REPORT
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Report Date : |
13th March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
TAN LONG GRANITE COMPANY LIMITED
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Registered Office : |
No. 147 Tang Bat Ho Str, Le Loi
Ward, Quy Nhon City, Binh Dinh Province |
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Country : |
Viet Nam |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
2000 |
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Legal Form : |
Liability Limited Company |
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Line of Business : |
Manufacturing and processing
granite for construction |
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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TAN LONG GRANITE COMPANY LIMITED
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Also Known As |
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NEW DRAGON COMPANY LIMITED |
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Vietnamese name |
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CONG TY TNHH TAN LONG GRANITE |
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Trade Name |
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TAN LONG GRANITE CO., LTD |
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Type of Business |
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Liability Limited Company |
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Founded |
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2000 |
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Business Registration |
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3502000012 |
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Issued on |
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March 17th 2000 |
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Issued by |
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Binh Dinh Department of Planning
and Investment |
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Registered capital |
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3,000,000,000
VND |
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Tax code |
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4100355437 |
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Total Employees |
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80 persons |
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Qualification |
|
Qualified |
ADDRESS
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Head Office |
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Address |
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No. 147 Tang Bat Ho Str, Le Loi
Ward, Quy Nhon City, Binh Dinh Province |
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Country |
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Vietnam |
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Tel |
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(84-56) 821317 |
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Fax |
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(84-56) 741449 |
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Factory
Location |
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Address |
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Phu Tai Industrial Zone, Quy Nhon
City, Binh Dinh Province |
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Country |
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Vietnam |
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Tel |
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(84-56) 741389 |
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Fax |
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(84-56) 741449 |
DIRECTORS
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1. NAME |
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Mr. TRAN HOC QUAN |
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Position |
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Director |
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Address |
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No. 147 Tang Bat Ho Str, Le Loi
Ward, Quy Nhon City, Binh Dinh Province |
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Nationality |
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Vietnamese |
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||
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2. NAME |
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Mr. DANG THI PHUONG MAI |
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Position |
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Vice Director |
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Contact Address |
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Phu Tai Industrial Zone, Quy Nhon City,
Binh Dinh Province |
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Nationality |
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Vietnamese |
BUSINESS NATURE AND ACTIVITIES
The
subject registered in the following lines of business:
Manufacturing and processing granite for construction
IMPORT & EXPORT ACTIVITIES
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IMPORT: The subject imports from Norway, India. |
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EXPORT: The subject supplies its products to Taiwan,
United State, Malaysia, Singapore, Spain. |
BANKERS
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1. BANK FOR FOREIGN TRADE OF VIETNAM – PHU TAI BRANCH |
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Address |
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Highway No.1, Tran Quang Dieu
Ward, Quy Nhon City, Binh Dinh Province |
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Country |
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Vietnamese |
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Tel |
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(84-56) 741732 |
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Fax |
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(84-56) 741007 |
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Acc No. |
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0051370009288 |
SHAREHOLDERS
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1. Name |
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Mr. TRAN TU LE |
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Position |
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President
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Resident |
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No. 147 Tang Bat Ho Str, Le Loi
Ward, Quy Nhon City, Binh Dinh Province |
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Nationality |
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Vietnamese |
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||
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2. Name |
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Mr. TRAN HOC QUAN |
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Position |
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Director
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Resident |
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No. 147 Tang Bat Ho Str, Le Loi Ward,
Quy Nhon City, Binh Dinh Province |
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Nationality |
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Vietnamese |
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Note: - Above are main shareholders of the subject, we tried to collect information in detail but no result - Mr. TRAN TU LE is father of Mr. TRAN HOC QUAN |
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1. Name |
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Mr. TRAN TU LE |
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Position |
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President
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Resident |
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No. 147 Tang Bat Ho Str, Le Loi
Ward, Quy Nhon City, Binh Dinh Province |
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Nationality |
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Vietnamese |
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||
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2. Name |
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Mr. TRAN HOC QUAN |
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Position |
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Director
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|
Resident |
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No. 147 Tang Bat Ho Str, Le Loi
Ward, Quy Nhon City, Binh Dinh Province |
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Nationality |
|
Vietnamese |
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Note: - Above are main shareholders of the subject, we tried to collect information in detail but no result - Mr. TRAN TU LE is father of Mr. TRAN HOC QUAN |
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PAYMENT HISTORY AND EXPERIENCES
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Trade Morality |
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Fairly Good |
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Liquidity |
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Average |
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Payments |
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Above Average |
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Financial Situation |
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Above Average |
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Development trend |
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Fairly Good |
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Litigation Data |
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No reported |
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Bankruptcy |
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No reported |
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Payment Method |
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TT, L/C |
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Sale Method |
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Supplying for project and
distributors |
FINANCIAL DATA
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The full financial statement of the Subject is not available.
Following is its financial highlight: |
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Unit: Mill VND |
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Description |
31/12/2005 |
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A. Working assets & short-term Investment |
19,532 |
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Receivables |
3,134 |
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Inventory |
13,615 |
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Other
current assets |
2,783 |
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B. Fixed assets & Long term investment |
10,481 |
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Fixed assets |
6,527 |
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Tangible fixed assets |
6,527 |
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+ Original cost |
12,791 |
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+ Accumulated
depreciation value |
-6,264 |
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Construction in progress |
3,954 |
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TOTAL ASSETS |
30,013 |
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Payable loans |
21,577 |
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Owner’s Equity |
8,436 |
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TOTAL LIABILITY AND EQUITY |
30,013 |
PROFIT & LOSE STATEMENT
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Description |
FY 2005 |
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Total revenue |
18,465 |
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Deductions Items |
0 |
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- Discount |
0 |
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- Devaluation |
0 |
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- Return of sold goods |
0 |
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- Turnover tax, Luxury tax & Export tax |
0 |
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1. Net revenue |
18,465 |
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2. Cost of goods sold |
17,669 |
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3. Net income from business
activities |
796 |
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Income from financial activities |
2 |
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Expenditure from financial activities |
770 |
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7. Net income from financial operation |
-768 |
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Irregular income |
0 |
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Irregular expenditure |
0 |
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8. Irregular Profit |
0 |
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9. Total pre-tax profit |
28 |
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10. Income tax |
8 |
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11. After tax profit |
20 |
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INTERPRETATION ON THE SCORES
The subject is a
Liability Limited Company. It was established in 2000 with the function of
manufacture and processing granite products for construction. The current position
in the in the industry of the subject is above average.
The premises of the
subject are large. The subject has factory specialized in quarrying
stones for construction and fine arts article making. The factory of the subject is located in Phu
Tai Industrial Zone, Where 12 kilometer far from west of Quy Nhon Seaport. The
production capacity of the subject is about 50,000 square meters per year. The
head office of the subject is also private home of Mr. TRAN HOC QUAN- Director
of the subject, this address is using for contact with customers and state
organization in charge. Its product is mainly exported to United State and
Taiwan. The subject also imports materials from foreign country such as India,
Norway. The market share of the subject is above average. The management
capacity of the subject is above average. The staffs of the subject are graded
at normal. The revenue of the subject is normal in comparison with other
companies in the industry. The future prosperity of the subject is bright.
In general, the
operation and finance of the subject regard good. The business of the subject
is stable and development. The market share of the subject is average. The
subject has capacity to meet the financial commitments.
To be rated at B, the company is expected to be VULNERABLE TO 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%)