MIRA INFORM REPORT
|
Report Date : |
19.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
HUNG THAI BROTHERS TANNERY COMPANY
LIMITED |
|
|
|
|
Registered Office : |
Block A78-A79-A80-A81 Road 07th, Vinh Loc Industrial Park, Binh Hung
Hoa Ward - Binh Tan District - Ho Chi Minh City |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Year of Establishment : |
2000 |
|
|
|
|
Com. Reg. No.: |
4102005288 |
|
|
|
|
Legal Form : |
Limited Liability Company |
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|
|
|
Line of Business : |
Tanning and trading in tanned leather |
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 : |
Slow but Correct |
|
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 |
|
HUNG THAI BROTHERS TANNERY COMPANY LIMITED
|
|
Vietnamese Name |
|
CONG TY TNHH HUYNH DE THUOC DA HUNG THAI |
|
Trade name |
|
HUNG THAI BROTHERS TANNERY CO., LTD |
|
Short name |
|
HUNG THAI TANNERY |
|
Type of Business |
|
Limited liability company |
|
Year Established |
|
2000 |
|
Business Registration No. |
|
4102005288 |
|
Date of Registration |
|
13 Jun 2001 |
|
Place of Registration |
|
Planning and Investment Department of Ho
chi minh city |
|
Current registered capital |
|
65,000,000,000 VND |
|
Tax code |
|
0302330195 |
|
Total Employees |
|
100 |
|
Size |
|
Large |
Historical Identification & Legal form
|
List |
Changed Items |
|
1 |
Subject has got former Registered English
Name: LY NGAU INDIVIDUAL BUSINESS Changed to: HUNG THAI BROTHERS TANNERY
COMPANY LIMITED |
|
2 |
Subject has got former Registered
Vietnamese Name: HO KINH DOANH CA THE LY NGAU Changed to: CONG TY TNHH HUYNH
DE THUOC DA HUNG THAI |
|
3 |
Subject has got former Type of Business:
Individual business Changed to: Limited liability company |
|
4 |
Subject has got former Business
Registration No: No. CN-542/11-D/HKD Changed to: 4102005288 |
|
5 |
Subject has got former Registered
Investment Capital: 4,300,000,000 VND Changed to: 65,000,000,000 VND |
company ADDRESSES
|
Head Office |
||
|
Address |
|
Block A78-A79-A80-A81 Road 07th, Vinh Loc
Industrial Park, Binh Hung Hoa Ward - Binh Tan District - Ho Chi Minh City -
Vietnam |
|
Telephone |
|
(84-8) 3765 3406 |
|
Fax |
|
(84-8) 3765 3406 |
|
|
||
|
Transaction
office in Ho Chi Minh |
||
|
Address |
|
No. 195 Au Co Street, Ward 5 - 11 District
- Ho Chi Minh City - Vietnam |
|
Telephone |
|
(84-8) 3974 0433 / 3865 7690 / 3860 2770 /
3865 0168 |
|
Fax |
|
(84-8) 3860 1066 |
|
Email |
|
|
DIRECTORS
|
1.
NAME |
|
Mr.
LY NGAU |
|
Position |
|
Director |
|
Date of Birth |
|
1955 |
|
ID Number/Passport |
|
021845370 |
|
Resident |
|
No. 195 Au Co str -
ward 5 - 11 District - Ho Chi Minh City - Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
2.
NAME |
|
Mr.
LAO NAI HAU |
|
Position |
|
Deputy Director |
|
ID Number/Passport |
|
022396241 |
|
Resident |
|
No. 195 Au Co Street,
Ward 5 - 11 District - Ho Chi Minh City - Vietnam |
|
Nationality |
|
Vietnamese |
BUSINESS NATURE AND ACTIVITIES
|
The subject registered in the following lines of
business: |
IMPORT & EXPORT ACTIVITIES
|
IMPORT: |
||
|
·
Types of products |
|
Materials |
|
·
Market |
|
Europe, Cambodia, China and Singapore |
|
|
||
|
EXPORT: |
||
|
·
Types of products |
|
Products |
|
·
Market |
|
Taiwan |
BANKERS
|
1.
SAIGON THUONG TIN COMMERCIAL JOINT STOCK BANK |
||
|
Address |
|
No. 266-268 Nam Ky Khoi Nghia Street, Ward 8 - 3 District - Ho Chi
Minh City - Vietnam |
|
Telephone |
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(84-8) 3932 0420 /3932 0643 |
|
Fax |
|
(84-8) 3932 2488 |
|
|
||
|
2.
ASIA COMMERCIAL BANK |
||
|
Address |
|
No.442, Nguyen Thi Minh Khai Street - 3 District - Ho Chi Minh City -
Vietnam |
|
Telephone |
|
(84-8) 3929 0999 |
|
Fax |
|
(84-8) 3839 9885 |
|
|
||
|
3.
VIET NAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE |
||
|
Address |
|
No.79 Ham Nghi Str, Nguyen Thai Binh Ward - 1 District - Ho Chi Minh
City - Vietnam |
|
Telephone |
|
(84-8) 3829 0715 |
|
Fax |
|
(84-8) 3829 5342 |
SHAREHOLDERS
|
1.
NAME |
|
Mr.
LY NGAU |
|
Position |
|
Director |
|
Date of Birth |
|
1955 |
|
ID Number/Passport |
|
021845370 |
|
Resident |
|
No. 195 Au Co str - ward 5 - 11 District -
Ho Chi Minh City - Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
32,500,000,000 VND |
|
Percentage |
|
50% |
|
|
||
|
2.
NAME |
|
Mr.
LAO NAI HAU |
|
Position |
|
Deputy Director |
|
ID Number/Passport |
|
022396241 |
|
Resident |
|
No. 195 Au Co Street, Ward 5 - 11 District
- Ho Chi Minh City - Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
32,500,000,000 VND |
|
Percentage |
|
50% |
FINANCIAL HIGHLIGHT
|
BALANCE
SHEET |
|
Unit: Million VND
|
|
|
Balance sheet date |
31/12/2009 |
|
Number of weeks |
52 |
|
ASSETS |
|
|
A. Current Asset
|
14,674 |
|
Receivables |
0 |
|
Inventory |
2,515 |
|
Cash and other current assets |
12,159 |
|
B. Long term
Asset |
53,304 |
|
1. Long term account receivable |
2,025 |
|
2. Fixed assets |
51,279 |
|
Tangible fixed assets |
43,033 |
|
+ Original cost |
44,914 |
|
+ Accumulated depreciation value |
-1,881 |
|
Financial leasehold assets |
0 |
|
Intangible fixed assets |
8,246 |
|
Construction in progress and other long term asset |
0 |
|
TOTAL ASSETS |
67,978 |
|
|
|
|
LIABILITIES |
|
|
Payable loans |
152 |
|
Owner’s Equity |
67,826 |
|
TOTAL LIABILITY
AND EQUITY |
67,978 |
|
|
|
|
PROFIT & LOSS STATEMENT |
|
|
|
|
|
1. Total Sale |
100,198 |
|
2. Deduction item |
0 |
|
3. Net sale |
100,198 |
|
4. Costs of goods sold |
99,325 |
|
5. Gross profit |
873 |
|
6. Financial income |
0 |
|
7. Financial expenses |
0 |
|
8. Selling expenses and Administrative overheads |
0 |
|
9. Net operating profit |
873 |
|
10. Other income |
0 |
|
11. Other expenses |
0 |
|
12. Other profit /(loss) |
0 |
|
13. Total accounting profit before tax |
873 |
|
14. Current corporate income tax |
153 |
|
15. Deferred corporate income tax |
0 |
|
16. Interest from subsidiaries/related companies |
0 |
|
17. Profit after tax |
720 |
PAYMENT HISTORY & PERFORMANCE
EXPERIENCES
|
Trade Morality |
|
Normal |
|
Liquidity |
|
N/A |
|
Payment status |
|
N/A |
|
Financial Situation |
|
Average |
|
Development trend |
|
Positive |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
TT, L/C |
|
Sale Methods |
|
Wholesaler |
|
Public opinion |
|
Good |
|
CREDIT INQUIRY: 1,000,000 USD Against in terms |
|
This credit inquiry is big for the Subject.
Please caution needed. |
INTERPRETATION ON THE SCORES
|
Originally, HUNG THAI TENNERY was only a
small leather processing workshop which was established in 2000. Since the
year 2000, manufacturing and trading activities of Mr. Ly Ngau has registered
under the type of individual business called “Ho Kinh Doanh Ca The Ly Ngau”.
Business registration number is CN-542/11-D/HKD, legal capital is
4,300,000,000 VND. In June 2001, the subject - HUNG THAI BROTHERS TANNERY COMPANY LIMITED was
established under the business registration No. 4102005288 and the registered
capital is 65,000,000,000 VND. After that, as the arrangement of
People’s Committee of Hochiminh city, all tanning units in this city must be
moved to the suburb area. Factory of the subject has moved to Vinh Loc
Industrial Park. The subject’s head office and the factory are located at
Block A78-A79-A80-A81 Road 07th, Vinh Loc Industrial Park, Binh Hung Hoa Ward
- Binh Tan District - Ho Chi Minh City. The subject specializes in producing and
trading finished leather. Premises and facilities of the subject are above
average. Production activities of the subject are
busy. The subject products are exported to Taiwan, American and EU.
Competition capacity of the subject is average. According to Mr. Nghia –
Sales Director, the business result of it in 2010 was fair effective. The
sale in 2010 was 204 billion VND, it increased significantly compare with 2009. In our opinion, the
subject has capacity to meet all small-normal transactions. |
APPENDIXES
|
INDUSTRY DATA |
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|
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 |
|
|
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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 |
|||
|
|
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|
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.45.61 |
|
UK Pound |
1 |
Rs.75.32 |
|
Euro |
1 |
Rs.65.68 |
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.