MIRA INFORM
REPORT
|
Report Date : |
03.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
WORLD TECHNICS CHEMICALS TRADE COMPANY
LIMITED |
|
|
|
|
Registered Office : |
No. 20B Phan Chu Trinh Str, Tan Thanh Ward - Tan Phu District - Ho Chi
Minh City |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2008 |
|
|
|
|
Year of Establishment : |
2007 |
|
|
|
|
Com. Reg. No.: |
0304958274 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
trading chemicals for industries of coatings, printing, plastic products, rubber products, packaging and composite |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment
Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Vietnam |
b1 |
b1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SUBJECT IDENTIFICATION & LEGAL FORM
Current legal status
|
||
|
English Name |
|
WORLD TECHNICS CHEMICALS TRADE COMPANY
LIMITED |
|
Registered Vietnamese Name |
|
CONG TY TNHH THUONG MAI HOA CONG NGHE TOAN
CAU |
|
Registered Trade name |
|
WORLD TECHNICS CHEMICALS TRADE COMPANY LIMITED |
|
Registered Short name |
|
WOLRD TECHEM TRADE CO., LTD |
|
Type of Business |
|
Limited liability company |
|
Year Established |
|
2007 |
|
Business Registration No. |
|
0304958274 |
|
Date of Registration |
|
16 Apr 2010 |
|
Place of Registration |
|
Business Registration Office of Ho Chi
Minh City |
|
Current registered capital |
|
16,800,000,000 VND |
|
Tax code |
|
0304958274 |
|
Total Employees |
|
8 |
|
Size |
|
Small |
|
Notes:
The correct name of the Subject is as above. |
||
Historical Identification & Legal form
|
List |
Changed Items |
|
1 |
Subject has got former Business
Registration No: 4102049588 issued on 25 Apr 2007 Changed to: 0304958274 |
company ADDRESSES
|
Head Office |
||
|
Address |
|
No. 20B Phan Chu Trinh Str, Tan Thanh Ward
- Tan Phu District - Ho Chi Minh City - Vietnam |
|
Telephone |
|
(84-8) 38124726 / 38124727 / 38124728 /
38124729 |
|
Fax |
|
(84-8) 3812 4734 |
RELATED COMPANIES
|
TECHNOLOGY
CHEMICAL TRADING LIMITED COMPANY |
||
|
Business Registration |
|
071474 |
|
Date of Registration |
|
10 Jun 1999 |
|
Place of Registration |
|
Planning &Investment Department of Hochiminh city |
|
Registered Capital |
|
2,000,000,000 VND |
|
Tax code |
|
0301741788 |
|
Address |
|
20B Phan Chu Trinh - Tan Thanh Ward - Tan Phu District - Ho Chi Minh
City - Vietnam |
|
Tel |
|
84-8- 38124726/ 38124727/ 38124728 / 38124729 / 62 |
|
Fax |
|
84-8 - 38124734 |
DIRECTORS
|
1.
NAME |
|
Mr.
TRAN TRIEU NANG LUC |
|
Position |
|
Director |
|
ID Number/Passport |
|
022327311 |
|
Current resident |
|
No. 392/504 Nguyen Tri Phuong Str, Ward 4
- Tan Binh District - Ho Chi Minh City - Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
(84-8) 3812 4729 +84 903 902399 |
|
Email |
|
Luc@techemgroup.vn |
|
|
||
|
2.
NAME |
|
Mr.
TRAN TRIEU NANG TRI |
|
Position |
|
Deputy Director |
|
Date of Birth |
|
24 Aug 1972 |
|
ID Number/Passport |
|
022327310 |
|
Current resident |
|
No. 392/504 Nguyen Tri Phuong Str, Ward 4
- Tan Binh District - Ho Chi Minh City - Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
3.
NAME |
|
Mr.
NGUYEN THANH TUYEN |
|
Position |
|
Accountant |
|
Nationality |
|
Vietnamese |
|
Resident |
|
Ho Chi Minh City - Vietnam |
BUSINESS NATURE AND ACTIVITIES
The subject is specializing in trading chemicals for industries of coatings, printing, plastic products, rubber products, packaging and composite.
IMPORT & EXPORT ACTIVITIES
|
IMPORT: |
||
|
·
Types of products |
|
Chemical, machine, equipment |
|
·
Market |
|
Germany, France, Singapore, China and India |
|
|
||
|
EXPORT: |
||
|
·
Types of products |
|
N/A |
|
·
Market |
|
N/A |
|
·
Ratio |
|
N/A |
BANKERS
|
1.
ASIA COMMERCIAL BANK TRUONG CHINH BRANCH |
||
|
Address |
|
No.85 – 87 Xuan Hong, No.12 ward – Tan Binh District – Ho Chi Minh
City – Vietnam |
|
Telephone |
|
(84-8) 3811 5422 |
|
Fax |
|
(84-8) 3811 5432 |
|
|
||
|
2.
DONG A COMMERCIAL JOINT STOCK BANK |
||
|
Address |
|
No.130 Phan Dang Luu Street, Ward 3 – Phu Nhuan District – Ho Chi Minh
City – Vietnam |
|
Telephone |
|
(84-8) 3995 1483 |
|
Fax |
|
(84-8) 3995 1614 |
SHAREHOLDERS
|
1.
NAME |
|
Mr.
TRAN TRIEU NANG LUC |
|
Position |
|
Director |
|
ID Number/Passport |
|
022327311 |
|
Current Resident |
|
No. 392/504 Nguyen Tri Phuong Str, Ward 4
– Tan Binh District – Ho Chi Minh City – Vietnam |
|
Email |
|
Luc@techemgroup.vn |
|
Work phone |
|
(84-8) 3812 4729 |
|
Mobile phone |
|
+84 903 902399 |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
10,500,000,000 VND |
|
Percentage |
|
62.5% |
|
|
||
|
2.
NAME |
|
Mr.
TRAN TRIEU NANG TRI |
|
Position |
|
Deputy Director |
|
Date of Birth |
|
24 Aug 1972 |
|
ID Number/Passport |
|
022327310 |
|
Current Resident |
|
No. 392/504 Nguyen Tri Phuong Str, Ward 4
– Tan Binh District – Ho Chi Minh City – Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
5,500,000,000 VND |
|
Percentage |
|
32.74% |
|
|
||
|
3.
NAME |
|
Mr.
NGO THANG HUNG |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
800,000,000 VND |
|
Percentage |
|
4.76% |
FINANCIAL DATA
|
Financial statements in 2010, 2009 are not available. |
||
|
BALANCE
SHEET |
||
Unit: Million VND
|
||
|
Balance sheet
date |
31/12/2008 |
31/12/2007 |
|
Number of weeks |
52 |
52 |
|
ASSETS |
||
|
A – CURRENT
ASSETS |
55,222 |
48,190 |
|
I. Cash and cash
equivalents |
7,737 |
3,062 |
|
1. Cash |
7,737 |
3,062 |
|
2. Cash equivalents |
0 |
0 |
|
II. Short-term
investments |
0 |
0 |
|
1. Short-term investments |
0 |
0 |
|
2. Provisions for devaluation of short-term investments |
0 |
0 |
|
III. Accounts
receivable |
23,748 |
20,109 |
|
1. Receivable from customers |
23,744 |
20,099 |
|
2. Prepayments to suppliers |
0 |
0 |
|
3. Inter-company receivable |
0 |
0 |
|
4. Receivable according to the progress of construction |
0 |
0 |
|
5. Other receivable |
4 |
10 |
|
6. Provisions for bad debts |
0 |
0 |
|
IV. Inventories |
22,768 |
23,190 |
|
1. Inventories |
22,768 |
23,190 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
|
V. Other Current
Assets |
969 |
1,829 |
|
1. Short-term prepaid expenses |
45 |
17 |
|
2. VAT to be deducted |
924 |
1,812 |
|
3. Taxes and other accounts receivable from the State |
0 |
0 |
|
4. Other current assets |
0 |
0 |
|
B. LONG-TERM
ASSETS |
612 |
221 |
|
I. Long term
account receivable |
0 |
0 |
|
1. Long term account receivable from customers |
0 |
0 |
|
2. Working capital in affiliates |
0 |
0 |
|
3. Long-term inter-company receivable |
0 |
0 |
|
4. Other long-term receivable |
0 |
0 |
|
5. Provisions for bad debts from customers |
0 |
0 |
|
II. Fixed assets
|
612 |
221 |
|
1. Tangible assets |
612 |
221 |
|
- Historical costs |
656 |
221 |
|
- Accumulated depreciation |
-44 |
0 |
|
2. Financial leasehold assets |
0 |
0 |
|
- Historical costs |
0 |
0 |
|
- Accumulated depreciation |
0 |
0 |
|
3. Intangible assets |
0 |
0 |
|
- Initial costs |
0 |
0 |
|
- Accumulated amortization |
0 |
0 |
|
4. Construction-in-progress |
0 |
0 |
|
III. Investment
property |
0 |
0 |
|
Historical costs |
0 |
0 |
|
Accumulated depreciation |
0 |
0 |
|
IV. Long-term
investments |
0 |
0 |
|
1. Investments in affiliates |
0 |
0 |
|
2. Investments in business concerns and joint ventures |
0 |
0 |
|
3. Other long-term investments |
0 |
0 |
|
4. Provisions for devaluation of long-term investments |
0 |
0 |
|
V. Other
long-term assets |
0 |
0 |
|
1. Long-term prepaid expenses |
0 |
0 |
|
2. Deferred income tax assets |
0 |
0 |
|
3. Other long-term assets |
0 |
0 |
|
TOTAL ASSETS |
55,834 |
48,411 |
|
|
||
|
LIABILITIES |
||
|
A- LIABILITIES |
46,253 |
41,508 |
|
I. Current
liabilities |
43,753 |
39,008 |
|
1. Short-term debts and loans |
0 |
0 |
|
2. Payable to suppliers |
43,793 |
38,553 |
|
3. Advances from customers |
0 |
0 |
|
4. Taxes and other obligations to the State Budget |
-40 |
455 |
|
5. Payable to employees |
0 |
0 |
|
6. Accrued expenses |
0 |
0 |
|
7. Inter-company payable |
0 |
0 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
|
9. Other payable |
0 |
0 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
|
II. Long-Term
Liabilities |
2,500 |
2,500 |
|
1. Long-term accounts payable to suppliers |
0 |
0 |
|
2. Long-term inter-company payable |
0 |
0 |
|
3. Other long-term payable |
0 |
0 |
|
4. Long-term debts and loans |
2,500 |
2,500 |
|
5. Deferred income tax payable |
0 |
0 |
|
6. Provisions for unemployment allowances |
0 |
0 |
|
7. Provisions for long-term accounts payable |
0 |
0 |
|
B- OWNER’S
EQUITY |
9,581 |
6,903 |
|
I. OWNER’S
EQUITY |
9,581 |
6,903 |
|
1. Capital |
5,000 |
5,000 |
|
2. Share premiums |
0 |
0 |
|
3. Other sources of capital |
0 |
0 |
|
4. Treasury stocks |
0 |
0 |
|
5. Differences on asset revaluation |
0 |
0 |
|
6. Foreign exchange differences |
0 |
0 |
|
7. Business promotion fund |
0 |
0 |
|
8. Financial reserved fund |
0 |
0 |
|
9. Other funds |
0 |
0 |
|
10. Retained earnings |
4,581 |
1,903 |
|
11. Construction investment fund |
0 |
0 |
|
II. Other
sources and funds |
0 |
0 |
|
1. Bonus and welfare funds |
0 |
0 |
|
2. Sources of expenditure |
0 |
0 |
|
3. Fund to form fixed assets |
0 |
0 |
|
MINORITY’S
INTEREST |
0 |
0 |
|
TOTAL
LIABILITIES AND OWNER’S EQUITY |
55,834 |
48,411 |
|
PROFIT
& LOSS STATEMENT |
|
|
|
|
|
Description |
FY2008 |
|
1. Total Sale |
106,978 |
|
2. Deduction item |
0 |
|
3. Net sale |
106,978 |
|
4. Costs of goods sold |
99,270 |
|
5. Gross profit |
7,708 |
|
6. Financial income |
37 |
|
7. Financial expenses |
2,320 |
|
- In which: Loan interest expenses |
0 |
|
8. Selling expenses |
913 |
|
9. Administrative overheads |
793 |
|
10. Net operating profit |
3,719 |
|
11. Other income |
0 |
|
12. Other expenses |
0 |
|
13. Other profit /(loss) |
0 |
|
14. Total accounting profit before tax |
3,719 |
|
15. Current corporate income tax |
1,041 |
|
16. Deferred corporate income tax |
0 |
|
18. Profit after tax |
2,678 |
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||
|
|
||
|
Description |
FY2008 |
Average Industry |
|
Current liquidity ratio |
1.26 |
1.45 |
|
Quick liquidity ratio |
0.74 |
0.87 |
|
Inventory circle |
4.32 |
7.48 |
|
Average receive period |
81.03 |
64.15 |
|
Utilizing asset performance |
1.92 |
2.38 |
|
Liability by total asset |
82.84 |
69.14 |
|
Liability by owner equity |
482.76 |
281.46 |
|
Ebit / Total asset (ROA) |
6.66 |
10.33 |
|
Ebit / Owner's equity (ROE) |
38.82 |
35.61 |
|
Ebit / Total sale (NPM) |
3.48 |
4.71 |
|
Gross profit / Total sale (GPM) |
7.21 |
15.43 |
|
Note: The Average Industry was calculated by Vietnam Credit based on our
owned statistical data |
||
PAYMENT HISTORY & PERFORMANCE
EXPERIENCES
|
Trade Morality |
|
Fair |
|
Liquidity |
|
N/A |
|
Payment status |
|
N/A |
|
Financial Situation |
|
Normal |
|
Development trend |
|
Down trend |
|
Litigation data |
|
No |
|
Bankruptcy |
|
No |
|
Payment Methods |
|
Through the Bank |
|
Sale Methods |
|
Retailer and Wholesaler |
|
Public opinion |
|
Normal |
|
CREDIT INQUIRY: N/A |
INTERPRETATION ON THE SCORES
|
WORLD
TECHNICS CHEMICALS TRADE COMPANY LIMITED is a limited liability company which
was established in April 2007 under the Business Registration No. 4102049588
and the registered capital is VND5 billion. Then, the subject increased the
registered capital up to VND9 billion. And at present, it is operating under
the Business Registration No. 0304958274 with registered capital of VND16.8
billion. Head
office of the subject is located at No. 20B Phan Chu Trinh Str - Tan Thanh
Ward - Tan Phu District - Ho Chi Minh City. The subject specializes in
trading chemicals for industries of coatings, printing, plastic products,
rubber products, packaging and composite. Its products are imported from
Germany, France, Singapore, China and India and provided for domestic market
only. Premises and facilities of the subject are normal. The management of
the subject is average. Subject has about 8 employees. Recently, business of
the subject has been narrowed. Future
prospect of it seems to be at low level. In our opinion, at present, the
subject has capacity to meet the small business transaction. Caution needed
for medium & big transactions with the subject |
APPENDIXES
|
INDUSTRY DATA |
||||||
|
|
||||||
|
Industry code |
Growth speed (%) |
Total employees
2009 (Thousand) |
Total
enterprises |
Annual average
capital of enterprises |
||
|
Predict 2010 |
2009 |
|||||
|
Agriculture,
Forestry and Fishing |
2.8 |
3.0 |
24,788.5 |
2,399 |
50,530 |
|
|
Trade and
Services |
7.5 |
11 |
10,517.9 |
79,181 |
1,754,973 |
|
|
Construction |
7 |
11.3 |
2,692.8 |
17,783 |
248,268 |
|
|
Manufacturing |
12 |
7.6 |
7,591.2 |
30,786 |
967,068 |
|
|
|
||||||
|
ECONOMIC
INDICATORS |
||||||
|
|
||||||
|
|
2010 |
2009 |
2008 |
|||
|
Population (Million person) |
86.93 |
86.02 |
86.1 |
|||
|
Gross Domestic Products (US$ billion) |
102.2 |
91 |
84.9 |
|||
|
GDP Growth (%) |
6.78 |
5.32 |
6.2 |
|||
|
GDP Per Capita (US$) |
1,160 |
1,080 |
1,040 |
|||
|
Inflation (% Change in Composite CPI) |
11.75 |
6.88 |
24.4 |
|||
|
|
||||||
|
SERVICE TRADE
PERFORMANCE |
||||||
|
|
||||||
|
Billion USD |
2010 |
2009 |
2008 |
|||
|
Exports |
71.6 |
56.6 |
62.9 |
|||
|
Imports |
84 |
68.8 |
76.6 |
|||
|
Trade Balance |
-12.4 |
-12.2 |
-14.6 |
|||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.23 |
|
UK Pound |
1 |
Rs.72.09 |
|
Euro |
1 |
Rs.62.99 |
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 |
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 |
|
---- |
NB |
New Business |
---- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.