MIRA
INFORM REPORT
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Report Date : |
06.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
UNITED PHOSPHORUS VIETNAM COMPANY LIMITED |
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Registered Office : |
Plot 221, Amata Industrial Zone, Long Binh
Dist, Bien Hoa City, Dong Nai Province |
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Country : |
Vietnam |
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Date of Incorporation : |
2006 |
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Legal Form : |
Foreign Investment Enterprise |
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Line of Business : |
Manufacturing and trading in fertilizers and
pesticides. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUBJECT IDENTIFICATION &
LEGAL FORM
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English Name
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UNITED PHOSPHORUS VIETNAM COMPANY LIMITED
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Vietnamese name |
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CONG TY TNHH
UNITED PHOSPHORUS VIETNAM |
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Trade Name |
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UNITED PHOSPHORUS VIETNAM LTD |
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Abbreviated Name |
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UPL VIETNAM |
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Type of Business |
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100% foreign
investment enterprise |
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Foundation |
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2006 |
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Investment license |
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No. 457/GP-KCN-DN |
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Date of Issuance |
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March 31st
2006 |
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Place of Issuance |
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Authority of
Dong Nai Industrial Zones |
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Legal Capital |
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3,000,000 USD |
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Investment capital |
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3,000,000 USD |
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Investment duration |
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50 years |
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Tax Code |
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3600807993 |
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Total Employees |
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60 employees |
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Qualification |
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Normal |
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ADDRESS
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Head Office/ Factory:
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Address |
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Plot 221, Amata
Industrial Zone, Long Binh Dist, Bien Hoa City, Dong Nai Province |
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Country |
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Vietnam |
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Tel |
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84-613 936380 / 936634 / 936431 |
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Fax |
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84-613 936381 |
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Office in Hochiminh City:
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Address |
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Bitexco Office
Building, 7th Flr., No. 19-25 Nguyen Hue St., Ben Nghe Ward,
District 1, Hochiminh City |
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Country |
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Vietnam |
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Tel |
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84-8 914 3228 |
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Fax |
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84-8 914 3230 |
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Email |
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Note
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This is also the location and contact
lines of representative office of the subject parent, United Phosphorus Ltd
(India). |
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DIRECTORS
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1.
NAME |
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Mr.
CHANDER YARRAPOTU |
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Position |
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Country manager |
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Nationality |
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Indian |
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Cell phone |
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+84 90 80 18 900 |
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Email |
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2.
NAME |
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Mr.
MANOJ GUPTA |
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Position |
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Factory manager |
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Current Resident |
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Dong Nai Province- Vietnam |
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Nationality |
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Indian |
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3.
NAME |
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Mr.
NGUYEN HONG NAM |
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Position |
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Executive |
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Current Resident |
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Hochiminh City Vietnam |
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Nationality |
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Vietnamese |
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Email |
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BUSINESS NATURE AND ACTIVITIES
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The subject registered in the following
lines of business: Manufacturing and trading in fertilizers
and pesticides |
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IMPORT & EXPORT ACTIVITIES
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IMPORT: The subject
imports materials and goods from India and from other subsidiaries in its
group |
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EXPORT: N/A |
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BANKERS
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1.
VIETNAM BANK FOR FOREIGN TRADE ( VIETCOMBANK) |
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Address |
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No.29 Ben Chuong Duong Street, Hochiminh
City |
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Country |
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Vietnam |
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Tel |
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(84-8) 8251317 |
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Fax |
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(84-8) 8297228 |
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Telex |
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811234/5 VVB-VT |
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Swift |
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BFTVVBVX 007 |
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Account No. |
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007 1 37 3245546 |
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SHAREHOLDERS
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1. Name
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UNITED PHOSPHORUS LTD (UPL)
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Address
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Ready Money Terrace Street 167, Dr A. B. Road, Worli, Mumbai |
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Country |
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India |
Tel
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(+91) 22 - 2493 0681 |
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Fax |
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(+91) 22 - 2497 8119 |
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Website |
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Share |
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100% |
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PAYMENT HISTORY AND EXPERIENCES
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Trade Morality |
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Good |
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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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Fairly good |
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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), by
telegraphic transfer (T/T). |
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Sales methods |
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Through its agent networks |
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FINANCIAL DATA
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The subject financial statements are not available. Its
legal capital is US$ 3,000,000. In 2007, UPL Vietnam has targeted of US$10
million in sales in the domestic market |
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INTERPRETATION
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The Subject, United Phosphorus Vietnam Ltd is a 100% foreign investment enterprise. The subject was licensed in 2006. Its investment duration is 50 years. The subject legal capital is US$3,000,000. The subject registered head office and factory locating in Amata Industrial Park-Dong Nai Province. Its transaction office is at (Bitexco Office Building, 7th Flr.,) No. 19-25 Nguyen Hue St., Ben Nghe Ward, District 1, Hochiminh City. The subject transaction office is also the representative office of its parent company- United Phosphorus Ltd (UPL-India). The subject is manufacturing and trading in generic crop protection products, intermediates, special-use chemicals and other industrial chemicals. |
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The subject parent, UPL is a big agrochemical supplier in Vietnam market. UPL representative office in Vietnam was set up a decade ago and markets a wide range of products. UPL has supplied products (crop protection products with a wide range of products including fumigants, insecticides, herbicides, fungicides, and rodenticides) to many famous Vietnamese manufacturing and trading companies such as Ngoc Tung, Nong Phat, |
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UPL Vietnam uses all favorable conditions to catch its targets. In 2007, UPL Vietnam targets US$10 million in sales in the domestic market. Premises and facilities of the subject are fair standard. The subject factory locating in the total area of 13,404 m2. |
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The company is expected to be VULNERABLE TO ADVERSE changes in circumstances and economic conditions. |
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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. |
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%)