MIRA
INFORM REPORT
|
Report Date : |
06.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
LUCKY COMPANY LIMITED |
|
|
|
|
Registered Office : |
Lot ME9-1A Duc Hoa 1 Industrial Zone - Hanh Phuc, Hamlet 5, Duc Hoa Dong Commune - Duc Hoa District - Long An Province |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
23.06.2009 |
|
|
|
|
Com. Reg. No.: |
1101041325 |
|
|
|
|
Legal Form : |
One member liability limited company |
|
|
|
|
Line of Business : |
Specializing in processing, bottled, trading, packaging pesticide and fertilizer |
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) |
|
Viet Nam |
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 |
|
LUCKY COMPANY LIMITED |
|
Vietnamese Name |
|
CONG TY TNHH MOT THANH VIEN LUCKY |
|
Short name |
|
LUCKY CO., LTD |
|
Type of Business |
|
One member liability limited company |
|
Year Established |
|
2009 |
|
Business Registration No. |
|
1101041325 |
|
Date of Registration |
|
23 Jun 2009 |
|
Place of Registration |
|
Long An Department of Planning and
Investment |
|
Current registered capital |
|
20,000,000,000 VND |
|
Tax code |
|
1101041325 |
|
Total Employees |
|
60 |
|
Size |
|
Small |
Historical Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Shareholders: Ms.
TRUONG THI THUY TRUONG Changed to: Mr. TRAN NGUYEN TOAN |
20 Oct
2009 |
ADDRESSES
|
||
|
|
||
|
Head Office |
||
|
Address |
|
Lot ME9-1A Duc Hoa 1 Industrial Zone -
Hanh Phuc, Hamlet 5, Duc Hoa Dong Commune - Duc Hoa District - Long An
Province - Vietnam |
|
Telephone |
|
(84-72) 3778 151 - 3778 150 |
|
Fax |
|
(84-72) 3778 152 |
|
|
||
SUBSIDIARIES AND RELATED
COMPANIES
|
||
|
|
||
|
RELATED COMPANY
- ASIA BIOCHEMICAL COMPANY LIMITED |
||
|
Business Registration |
|
4102039078 |
|
Date of Registration |
|
04 May 2006 |
|
Place of Registration |
|
Planning and Investment Department of Hochiminh City |
|
Registered Capital |
|
19,000,000,000 VND |
|
Tax code |
|
0304325585 |
|
Address |
|
No.551/132 Le Quang Dinh Str, Ward 1 - Go Vap District - Ho Chi Minh
City - Vietnam |
|
Tel |
|
(84-8) 38954025 |
|
Fax |
|
(84-8) 38954025 |
|
|
||
DIRECTORS
|
||
|
|
||
|
1.
NAME |
|
Mr.
TRAN NGUYEN TOAN |
|
Position |
|
Director |
|
Date of Birth |
|
08 Aug 1975 |
|
ID Number/Passport |
|
024344870 |
|
ID Issue Date |
|
06 Oct 2009 |
|
ID Issue Place |
|
Police Station of
Hochiminh city |
|
Resident |
|
No. 551/132 Le Quang
Dinh Street, Ward 1, Go Vap Street - Go Vap District - Ho Chi Minh City -
Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
+84 908 330 776 |
|
|
||
|
2.
NAME |
|
Ms.
TRAN THANH NGOC QUYNH |
|
Position |
|
Accountant |
|
Resident |
|
Long An Province -
Vietnam |
|
Nationality |
|
Vietnamese |
|
Qualification |
|
Management |
|
|
||
BUSINESS NATURE AND ACTIVITIES
|
|
|
|
Subject
is specializing in processing, bottled, trading, packaging pesticide and
fertilizer. |
|
|
IMPORT & EXPORT ACTIVITIES
|
||
|
|
||
|
IMPORT: |
||
|
·
Types of products |
|
Pesticides |
|
·
Market |
|
China, India, Taiwan. |
|
|
||
|
EXPORT: |
||
|
·
Types of products |
|
N/A |
|
|
||
BANKERS
|
||
|
|
||
|
ASIA
COMMERCIAL BANK GO VAP BRANCH |
||
|
Address |
|
No.01 Quang Trung - Go Vap District - Ho Chi Minh City - Vietnam |
|
Telephone |
|
(84-8) 3989 4469 |
|
Fax |
|
(84-8) 3989 4470 |
|
|
||
SHAREHOLDERS
|
||
|
|
||
|
NAME |
|
Mr.
TRAN NGUYEN TOAN |
|
Position |
|
Director - Owner |
|
Date of Birth |
|
08 Aug 1975 |
|
ID Number/Passport |
|
024344870 |
|
Issued on |
|
06 Oct 2009 |
|
Issued Place |
|
Police Station of Hochiminh city |
|
Resident |
|
No. 551/132 Le Quang Dinh Street, Ward 1,
Go Vap Street - Go Vap District - Ho Chi Minh City - Vietnam |
|
Mobile phone |
|
+84 908 330 776 |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
20,000,000,000 VND |
|
Percentage |
|
100% |
|
|
||
FINANCIAL DATA
|
|
|
|
|
|
BALANCE
SHEET |
|
Unit: One VND
|
|
|
Balance sheet
date |
31/12/2010 |
|
Number of weeks |
52 |
ASSETS
|
|
|
A – CURRENT
ASSETS |
18,103,801,004 |
|
I. Cash and cash
equivalents |
10,760,473,947 |
|
1. Cash |
10,760,473,947 |
|
2. Cash equivalents |
0 |
|
II. Short-term
investments |
0 |
|
1. Short-term investments |
0 |
|
2. Provisions for devaluation of short-term investments |
0 |
|
III. Accounts
receivable |
4,610,419,264 |
|
1. Receivable from customers |
4,522,403,059 |
|
2. Prepayments to suppliers |
87,200,000 |
|
3. Inter-company receivable |
0 |
|
4. Receivable according to the progress of construction |
0 |
|
5. Other receivable |
816,205 |
|
6. Provisions for bad debts |
0 |
|
IV. Inventories |
1,790,924,017 |
|
1. Inventories |
1,790,924,017 |
|
2. Provisions for devaluation of inventories |
0 |
|
V. Other Current
Assets |
941,983,776 |
|
1. Short-term prepaid expenses |
40,975,460 |
|
2. VAT to be deducted |
901,008,316 |
|
3. Taxes and other accounts receivable from the State |
0 |
|
4. Other current assets |
0 |
|
B. LONG-TERM
ASSETS |
8,824,443,239 |
|
I. Long term
account receivable |
0 |
|
1. Long term account receivable from customers |
0 |
|
2. Working capital in affiliates |
0 |
|
3. Long-term inter-company receivable |
0 |
|
4. Other long-term receivable |
0 |
|
5. Provisions for bad debts from customers |
0 |
|
II. Fixed assets
|
5,882,922,287 |
|
1. Tangible assets |
5,194,097,537 |
|
- Historical costs |
5,243,047,059 |
|
- Accumulated depreciation |
-48,949,522 |
|
2. Financial leasehold assets |
0 |
|
- Historical costs |
0 |
|
- Accumulated depreciation |
0 |
|
3. Intangible assets |
0 |
|
- Initial costs |
0 |
|
- Accumulated amortization |
0 |
|
4. Construction-in-progress |
688,824,750 |
|
III. Investment
property |
0 |
|
Historical costs |
0 |
|
Accumulated depreciation |
0 |
|
IV. Long-term
investments |
0 |
|
1. Investments in affiliates |
0 |
|
2. Investments in business concerns and joint ventures |
0 |
|
3. Other long-term investments |
0 |
|
4. Provisions for devaluation of long-term investments |
0 |
|
V. Other
long-term assets |
2,941,520,952 |
|
1. Long-term prepaid expenses |
2,941,520,952 |
|
2. Deferred income tax assets |
0 |
|
3. Other long-term assets |
0 |
|
VI. Goodwill |
0 |
|
1. Goodwill |
0 |
|
TOTAL ASSETS |
26,928,244,243 |
|
|
|
LIABILITIES
|
|
|
A- LIABILITIES |
5,079,279,955 |
|
I. Current
liabilities |
5,079,279,955 |
|
1. Short-term debts and loans |
0 |
|
2. Payable to suppliers |
4,949,797,100 |
|
3. Advances from customers |
128,722,785 |
|
4. Taxes and other obligations to the State Budget |
0 |
|
5. Payable to employees |
0 |
|
6. Accrued expenses |
0 |
|
7. Inter-company payable |
0 |
|
8. Payable according to the progress of construction contracts |
0 |
|
9. Other payable |
760,070 |
|
10. Provisions for short-term accounts payable |
0 |
|
II. Long-Term
Liabilities |
0 |
|
1. Long-term accounts payable to suppliers |
0 |
|
2. Long-term inter-company payable |
0 |
|
3. Other long-term payable |
0 |
|
4. Long-term debts and loans |
0 |
|
5. Deferred income tax payable |
0 |
|
6. Provisions for unemployment allowances |
0 |
|
7. Provisions for long-term accounts payable |
0 |
|
B- OWNER’S
EQUITY |
21,848,964,288 |
|
I. OWNER’S
EQUITY |
21,848,964,288 |
|
1. Capital |
20,000,000,000 |
|
2. Share premiums |
0 |
|
3. Other sources of capital |
0 |
|
4. Treasury stocks |
0 |
|
5. Differences on asset revaluation |
0 |
|
6. Foreign exchange differences |
0 |
|
7. Business promotion fund |
0 |
|
8. Financial reserved fund |
0 |
|
9. Other funds |
0 |
|
10. Retained earnings |
1,848,964,288 |
|
11. Construction investment fund |
0 |
|
II. Other
sources and funds |
0 |
|
1. Bonus and welfare funds |
0 |
|
2. Sources of expenditure |
0 |
|
3. Fund to form fixed assets |
0 |
|
MINORITY’S
INTEREST |
0 |
|
TOTAL
LIABILITIES AND OWNER’S EQUITY |
26,928,244,243 |
|
|
|
|
PROFIT
& LOSS STATEMENT |
|
|
|
|
|
Description |
FY2010 |
|
1. Total Sale |
9,691,559,536 |
|
2. Deduction item |
0 |
|
3. Net revenue |
9,691,559,536 |
|
4. Costs of goods sold |
6,903,651,180 |
|
5. Gross profit |
2,787,908,356 |
|
6. Financial income |
5,331,740 |
|
7. Financial expenses |
537,671 |
|
- In which: Loan interest expenses |
- |
|
8. Selling expenses |
682,359,974 |
|
9. Administrative overheads |
258,314,371 |
|
10. Net operating profit |
1,852,028,080 |
|
11. Other income |
136,556 |
|
12. Other expenses |
328 |
|
13. Other profit /(loss) |
136,228 |
|
14. Total accounting profit before tax |
1,852,164,308 |
|
15. Current corporate income tax |
0 |
|
16. Deferred corporate income tax |
0 |
|
17. Interest from subsidiaries/related companies |
0 |
|
18. Profit after tax |
1,852,164,308 |
|
|
||
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||
|
|
||
|
Description |
FY2010 |
Average Industry |
|
Current liquidity ratio |
3.56 |
1.98 |
|
Quick liquidity ratio |
3.21 |
1.14 |
|
Inventory circle |
3.85 |
4.57 |
|
Average receive period |
173.64 |
74.01 |
|
Utilizing asset performance |
0.36 |
1.52 |
|
Liability by total asset |
18.86 |
56.31 |
|
Liability by owner equity |
23.25 |
172.82 |
|
Ebit / Total asset (ROA) |
6.88 |
11.85 |
|
Ebit / Owner's equity (ROE) |
8.48 |
32.44 |
|
Ebit / Total revenue (NPM) |
19.11 |
7.81 |
|
Gross profit / Total revenue (GPM) |
28.77 |
21.11 |
|
Note: The Average Industry was calculated by Vietnam Credit based on our
owned statistical data |
||
|
|
||
PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
||
|
|
||
|
Trade Morality |
|
Fair |
|
Liquidity |
|
Medium/High |
|
Payment status |
|
Average |
|
Financial Situation |
|
Average |
|
Development trend |
|
Positive |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
Direct payment or through its corresponding bank. L/C, T/T |
|
Sale Methods |
|
Retailer and Wholesaler |
|
Public opinion |
|
Normal |
|
|
|
|
INTERPRETATION ON THE SCORES
|
|
LUCKY COMPANY LIMITED is one member limited liability company. It was
established in June 2009 in Long An Province. In the first time of
establishment, the subject was owned by Ms. Truong Thi Thuy Truong who the
director of An Nong Co., Ltd. In October 2009, the subject has acquired by
Mr. Tran Nguyen Toan who is founding member of Asia Biochemical Company. The
subject is specializing in processing, packaging and trading pesticide and
fertilizer. The subject now is located at Duc Hoa 1 Industrial Zone - Hanh
Phuc, Duc Hoa District, Long An Province. This address is the registration
address of the subject and it is also the factory of the subject. Premise and
facility of subject are fair. This
factory started operation in Sep 2010. Following the director of the subject
– Mr. Tran Nguyen Toan, he moved all operation of Asia Biochemical Company
into the subject. Subject specializes in processing and distribute, ASIA
BIOCHEMICAL specializes in importing materials and transaction (main market
in China, India and Taiwan). Asia
Biochemical Company Limited was established by Mr. Tran Nguyen Toan (44.4
percent of share) and Ms. Pham Van Anh Chi (55.5 percent of share). It has 60
employees with business line in trading pesticide and fertilizer. The
turnover of Asia Biochemical Company Limited in 2009 was USD 2,300,000 and
first four months of 2010 was USD 1,090,000. Financial
statement of subject in 2010 is fairly although subject has just started
manufacture in Sep 2010. Subject has got profit in the first year operation.
Liquidity ratios of subject are good, too. Future prospect of subject seems
be bright. The subject has capacity to meet the small amount of financial
commitment. |
------------ 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.44.80 |
|
|
1 |
Rs.72.85 |
|
Euro |
1 |
Rs.63.11 |
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.