MIRA
INFORM REPORT
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Report Date : |
21.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
TIEN PHAT PRODUCTION AND TRADING CO LTD |
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Registered Office : |
No. 494 Binh Duong Boulevard, Nguyen Trai Ward, Lai Thieu Town, Thuan
An Disitrict, Binh Duong Province. |
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Country : |
Vietnam |
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Financials (as on) : |
2006 |
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Date of Incorporation : |
2004 |
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Com. Reg. No.: |
4602001045 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturing animal feed, aqua feed. Manufacturing, processing materials,
additives using in feed processing. |
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. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUBJECT IDENTIFICATION &
LEGAL FORM
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English Name
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TIEN PHAT PRODUCTION AND TRADING COMPANY LIMITED
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Vietnamese name |
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CONG TY TNHH SAN
XUAT & THUONG MAI TIEN PHAT |
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Trade Name |
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TIEN PHAT CO., LTD |
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Abbreviated Name |
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TIPHACO |
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Type of Business |
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Limited
liability company |
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Foundation |
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2004 |
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Business Registration No. |
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4602001045 |
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Date of Issuance |
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April 07th
2004 |
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Place of Issuance |
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Planning and
Investment Department of Binh Duong province |
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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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3700569220 |
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Total Employees |
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17 employees |
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Qualification |
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Normal |
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Note:
The subject has just changed business registration number and increased legal
capital but currently, we can’t collect the data, we will update ASAP. |
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ADDRESS
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Head Office
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Address |
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No. 494 Binh Duong Boulevard, Nguyen Trai
Ward, Lai Thieu Town, Thuan An Disitrict, Binh Duong Province |
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Country |
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Vietnam |
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Tel |
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84-650 755383 / 761413 |
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Fax |
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84-650 761412 |
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DIRECTORS
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1.
NAME |
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Mrs.
NGUYEN THI KIM SANG |
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Position |
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Director |
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Indent No |
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280464631 |
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Resident |
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No. 82C, Hoa Long area, Lai Thieu Town,
Thuan An District, Binh Duong Province |
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Nationality |
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Vietnamese |
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Cell phone |
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+84 913 950990 |
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2.
NAME |
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Mr.
LUU QUANG MY |
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Position |
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Vice - Director |
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Resident |
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No. 82C, Hoa Long area, Lai Thieu Town,
Thuan An District, Binh Duong Province |
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Nationality |
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Vietnamese |
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Cell phone |
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+ 84 983 755383 |
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Note: Mrs. Nguyen Thi Kim Sang is wife of Mr.
Luu Quang My. |
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BUSINESS NATURE AND ACTIVITIES
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The subject registered in the following
lines of business: Manufacturing
animal feed, aqua feed Manufacturing,
processing materials, additives using in feed processing Providing
entrusted import- export services, forwarding and logistics services, renting
warehouses and offices |
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IMPORT & EXPORT ACTIVITIES
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IMPORT: The subject
imports goods from EU,USA and India |
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EXPORT: The subject exports
material and additives using in feed processing to Taiwan and China |
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BANKERS
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1.
EASTERN ASIA COMMERCIAL JOINT STOCK BANK- BINH DUONG BRANCH |
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Address |
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No. 15, Dinh Bo Linh Str, Phu Cuong Ward, Thu
Dau Mot Township, Binh Duong Province, Vietnam |
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Tel |
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(84-650) 859 450 – 859 447 |
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Fax |
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(84-650) 859 448 |
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Swift |
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EACBVNVX |
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2. VIETNAM BANK FOR FOREIGN TRADE ( VIETCOMBANK)-
BINH DUONG BRANCH |
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Address |
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No. 314 Binh
Duong Highway, Thu Dau I Commune, Binh Duong province, Vietnam |
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Tel |
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(84-650) 898 989 |
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Fax |
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(84-650) 842 321 |
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Swift |
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BFTVVNVX |
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3.
SGN COMMERCIAL JOINT STOCK BANK (SACOMBANK) – BINH DUONG BRANCH |
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Address |
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No. 431 Binh Duong Boulevard, Phu Cuong
Ward, Thu Dau I, Binh Duong province, Vietnam |
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Tel |
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(84-650) 859593 - 859964 - 859596 |
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Fax |
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(84-650) 859591 |
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Swift |
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SGTTVNVX |
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SHAREHOLDERS
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The subject
has just changed the register capital but up to now we have not collect.
Following is some of its shareholders:
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1.
NAME |
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Ms.
NGUYEN THI KIM SANG |
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Position |
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Director |
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Indent No |
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280464631 |
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Resident |
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No. 82C, Hoa Long area, Lai Thieu Town,
Thuan An District, Binh Duong Province. |
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Nationality |
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Vietnamese |
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Cell phone |
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+ 84 913 950 990 |
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2.
NAME |
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Mr.
LUU QUANG MY |
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Position |
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Vice - Director |
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Resident |
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No. 82C, Hoa Long area, Lai Thieu Town,
Thuan An District, Binh Duong Province |
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Nationality |
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Vietnamese |
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Cell phone |
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+ 84 983 755383 |
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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) |
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FINANCIAL DATA
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The Subject’s completed financial statement is not available. Following
are financial highlights: |
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BALANCE SHEET |
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Unit: 1,000,000 VND |
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Description |
2006 |
2005 |
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Current assets & Short term Investment |
6,519 |
2,178 |
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Fixed assets and long-term investment |
5,267 |
3,787 |
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Total
Assets |
11,786 |
5,965 |
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Payable |
4,869 |
124 |
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Owner’s Equity |
6,917 |
5,841 |
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Total
Liability and Equity |
11,786 |
5,965 |
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PROFIT & LOSE STATEMENT
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Description |
2006 |
2005 |
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Total
Revenue |
30,338 |
5,345 |
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Deduction items |
0 |
0 |
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Net
Revenue |
30,338 |
5,345 |
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Net Income From business Activities |
19 |
-158 |
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Net Income From Financial Operation |
1 |
0 |
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Irregular Profit |
0 |
0 |
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Total
pre-tax Profit |
20 |
-158 |
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INTERPRETATION ON THE SCORES
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The
Subject, Tien Phat Co., Ltd is a limited liability company which was
established in 2004. The subject specializes in trading additives and
chemical materials for feed processing industry. Main imported
market of the subject is EU, USA and India. The subject goods are mainly
trading in inland market. Currently, the subject has exported to China and
Taiwan market. Compared with other operating in the same field, Tien Phat
Co., Ltd is a new entity but is competition capacity of the subject is good.
Market-share of the subject is stable. Management capacity of the subject is
normal. The subject owners have
operated in this field for a long time. They have closed relation with
remarkable feed manufacturers in the Southern of Vietnam. Especially, Tien
Phat Co.., Ltd is supplying products and services for Lai Thieu Feed Mill
Co., Ltd. Liquidity of the subject is normal. The Subject’s completed
financial statement is not available. Following are financial highlights,
which were collected from Taxation, the subject turnover has high increased
from 5,345 million VND (in 2005) to 30,338 million VND (in 2006). According
to Mr. Luu Quang My – Vive Director, the revenue of 2007 is about 120
billion, increased 4 times in comparison with 2006 year. The subject has
order from company of France. Although, the subject is not well known in
market but the products is strong selling to relation customers in southern
of Vietnam. Facilities
of the subject are average. The position of the subject in the industry is
not remarkable. The subject payment status is normal. The subject has
capacity to meet all the small financial commitments. |
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The company’s stability is expected to be IMPAIRED by 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%)