MIRA
INFORM REPORT
|
Report Date : |
21.05.2008 |
IDENTIFICATION
DETAILS
|
Name : |
KIM MY CHEMICAL COSMETIC COMPANY LIMITED |
|
|
|
|
Registered Office : |
No. 32 Phuoc Hung Street, Ward 8, District 5, Hochiminh City |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
2006 |
|
|
|
|
Date of Incorporation : |
2001 |
|
|
|
|
Com. Reg. No.: |
4102007463 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Trading in Foodstuffs, Material for Cosmetic Production, Printing Services Providing Technical Consultancy Service for Cosmetic Production |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUBJECT IDENTIFICATION &
LEGAL FORM
|
|
||
English
Registered Name
|
|
KIM
MY CHEMICAL COSMETIC COMPANY LIMITED
|
|
Vietnamese Registered Name |
|
CONG TY TNHH HOA MY PHAM KIM MY |
|
Abbreviated
Registered Name |
|
KIMI
CHEMICO CO., LTD |
|
Type of Business |
|
Limited liability company |
|
Foundation |
|
2001 |
|
Business
Registration No. |
|
4102007463 |
|
Date
of Issuance |
|
November 26th 2001 |
|
Place
of Issuance |
|
Planning and Investment Department of Hochiminh City |
|
Registered
Capital |
|
500,000,000
VND |
|
Tax
Code |
|
0302464061 |
|
Total
Employees |
|
32
employees |
|
|
||
ADDRESSES
|
|
||
|
Head Office |
||
|
Address |
|
No. 32 Phuoc
Hung Street, Ward 8, District 5, Hochiminh city |
|
Country |
|
Vietnam |
|
Tel |
|
(84-8) 857 7615
- 859 3611 - 241 9699 - 241 9688 |
|
Fax |
|
(84-8) 859 3612 |
|
Email |
|
|
|
Website |
|
www.chemicogroup.com |
|
|
||
DIRECTORS
|
|
||
|
1. NAME |
|
Mr. CAO TRAN DUNG |
|
Position |
|
Director |
|
I.D No. |
|
023280356 |
|
Date of birth |
|
May 22nd
1953 |
|
Resident |
|
No. 122/2 Tran
Dinh Xu Str, Nguyen Cu Trinh Ward, Dist 1, Hochiminh City |
|
Nationality |
|
Vietnamese |
|
Cell phone |
|
++84 906 531 569
/ ++84 903 822 896 |
|
|
||
|
2. NAME |
|
Ms. HO THU THUY |
|
Position |
|
Sales and
technical supervisor |
|
Resident |
|
Hochiminh City |
|
Nationality |
|
Vietnamese |
|
Email |
|
|
|
Cell phone |
|
++84 918 514 063 |
|
|
||
BUSINESS NATURE AND ACTIVITIES
|
|
|
The subject
registered in the following lines of business:
|
|
|
IMPORT & EXPORT ACTIVITIES
|
|
|
IMPORT: The subject imports goods from Thailand,
China and Singapore. |
|
EXPORT: N/A |
|
|
BANKERS
|
|
||
|
1. INDUSTRIAL AND COMMERCIAL BANK OF VIETNAM
(INCOMBANK) BRANCH NO. 1 |
||
|
Address |
|
No. 93 - 95 Ham
Nghi Str, Nguyen Thai Binh Ward, Dist 1, Hochiminh City |
|
Tel |
|
(84-8) 821 5388
– 821 0089 |
|
Fax |
|
(84-8) 829 0696 |
|
Swift |
|
ICBVVNVX902 |
|
|
||
|
2. BANK FOR INVESTMENT & DEVELOPMENT OF
VIETNAM- HCM CITY BRANCH |
||
|
Address |
|
No. 134 Nguyen
Cong Tru Str, Dist 1, Hochiminh City, Vientam |
|
Tel |
|
(84-8) 823 0125,
829 7384 |
|
Fax |
|
(84-8) 829 8862 |
|
Swift |
|
BIDVVNVX310 |
SHAREHOLDER(S)
|
|
||
|
1. NAME |
|
Mr. CAO TRAN DUNG |
|
Position |
|
Director |
|
I.D No. |
|
023280356 |
|
Date of birth |
|
May 22nd
1953 |
|
Resident |
|
No. 122/2 Tran
Dinh Xu Street, Nguyen Cu Trinh Ward, District 1, Hochiminh City |
|
Nationality |
|
Vietnamese |
|
Cell phone |
|
++84 906 531 569
/ ++84 903 822 896 |
|
Share |
|
80% |
|
Value |
|
400,000,000
VND |
|
|
||
|
2. NAME |
|
Mrs. BUI THI THANH HUONG |
|
I.D No. |
|
020198596 |
|
Resident |
|
Hochiminh City |
|
Nationality |
|
Vietnamese |
|
Share |
|
20% |
|
Value |
|
100,000,000
VND |
|
|
||
FINANCIAL DATA
|
|
||
|
Unit: 1,000,000 VND |
||
|
Description |
2006 |
2005 |
|
Current assets
& Short term Investment |
3,140 |
2,831 |
|
Fixed assets and
long-term investment |
361 |
382 |
|
Total Assets |
3,501 |
3,213 |
|
Payable |
2,949 |
2,529 |
|
Owner’s Equity |
552 |
684 |
|
Total Liability and Equity |
3,501 |
3,213 |
|
|
||
|
Total Revenue |
7,507 |
6,142 |
|
Deduction items |
22 |
0 |
|
Net Revenue |
7,485 |
6,142 |
|
Net Income From
business Activities |
-21 |
-7 |
|
Net Income From
Financial Operation |
-27 |
8 |
|
Irregular Profit |
-48 |
0 |
|
Total pre-tax Profit |
-96 |
1 |
|
|
||
PAYMENT HISTORY AND EXPERIENCES
|
|
||
|
Trade
Morality |
|
Normal |
|
Liquidity |
|
Average |
|
Payment
status |
|
Normal |
|
Financial
Situation |
|
Average |
|
Development
trend |
|
Even |
|
Litigation
data |
|
No
Recorded |
|
Bankruptcy |
|
No
Recorded |
|
Payment
Methods |
|
Direct payment
or through its corresponding bank. Foreign remittance by letter of credit
(L/C), by telegraphic transfer (T/T). |
|
Sale
Methods |
|
Directly to
clients and through its agents |
|
|
||
INTERPRETATION ON THE SCORES
|
|
|
The Subject is a
limited liability company which was established in 2001. The subject is
specialized in supplying of materials & flavours used in many kinds of
cosmetic products such as skin care, hair care, make - up, etc; The Subject
is also supplying of materials, flavours & additives (stabilizer,
emulsifier, etc …) for food processing such as chutney, confectionery, ice
-cream, beverage, instant noodles, spice, beer, seafood, dairy products, etc;
Besides, the Subject is providing technical consultancy service to solve
problems in cosmetic production & food processing. The subject is the
agent distributes products of some foreign firms such as Chemico Group, Daito Kasei, Kobo, Corum,
Iwase Cosfa Co., Ltd, Flora Tech,Toshiba. The
subject products are sold to manufacturers especially manufacturers locating
in Hochiminh City, Binh Duong and Dong Nai industrial zones. Unilever, Unza
Vietnam, Rhoto, are some of the subject clients. The subject imports goods
from Japan, USA, France, Thailand, China for inland trading. Besides the
subject, the director - Mr. Cao Tran Dung has another company named Lien A
Business Development Co., Ltd. Generally,
the Subject is operating normally at the small-medium scale. The Subject
registered is only 500million VND. In our opinion, the Subject only has
capacity to meet the small commitments. |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)