MIRA INFORM REPORT
|
Report Date : |
02.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
FVA VAN PHUC CO., LTD |
|
|
|
|
Registered Office : |
Nam Sach Industrial Zone, Ai Quoc Village, Hai Duong City, Hai Duong Province |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Year of Establishment : |
2005 |
|
|
|
|
Legal Form : |
Foreign Invested Company |
|
|
|
|
Line of Business : |
The subject focuses on importing and then exporting fruit and vegetable |
|
|
|
|
No. of Employees
: |
23 Persons |
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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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
|
English Name |
|
FVA VAN PHUC CO., LTD |
|
Vietnamese Name |
|
CONG TY TNHH GIA CONG CHE BIEN RAU QUA VAN
PHUC |
|
Trade name |
|
FVA VAN PHUC CO., LTD |
|
Type of Business |
|
Foreign invested company |
|
Year Established |
|
2005 |
|
Investment Certificate No |
|
12/GP-KCN-HD |
|
Date Of Issuance |
|
12 Jan 2005 |
|
Place of Issuance |
|
Hai Duong Industrial Zone Authority |
|
Registered Investment Capital |
|
428,048 USD |
|
Chartered capital |
|
428,048 USD |
|
Status |
|
Unlisted |
|
Tax code |
|
0800293387 |
|
Total Employees |
|
23 |
|
Size |
|
Small |
company
ADDRESSES
|
Head Office |
||
|
Address |
|
Nam Sach Industrial Zone, Ai Quoc Village,
Hai Duong City, Hai Duong Province, Vietnam |
|
Telephone |
|
(84-320) 3752790 |
|
Fax |
|
(84-320) 3752791 |
DIRECTORS
|
1.
NAME |
|
Ms.
GUO MIAO ZIN |
|
Position |
|
Director |
|
Nationality |
|
Chinese |
BUSINESS
NATURE AND ACTIVITIES
The subject focuses on importing and then exporting fruit and vegetable
IMPORT
& EXPORT ACTIVITIES
|
IMPORT: |
||
|
·
Types of products |
|
fruit and vegetable |
|
·
Market |
|
China |
|
·
Ratio |
|
100% |
|
|
||
|
EXPORT: |
||
|
·
Types of products |
|
fruit and vegetable |
|
·
Market |
|
USA, Russia |
|
·
Ratio |
|
100% |
BANKERS
|
1.
ASIA COMMERCIAL BANK HAI DUONG BRANCH |
||
|
Address |
|
No. 76-78 Tran Hung Dao Street, Hai Duong City, Hai Duong Province,
Vietnam |
|
Telephone |
|
(84-3203) 3 836788 |
|
Fax |
|
(84-3203) 3 836766 |
SHAREHOLDERS
|
1.
NAME |
|
Mr.
ZHENG JIN ZHAO |
|
ID Number/Passport |
|
G10667773 |
|
Percentage |
|
100% |
FINANCIAL
DATA
N/A
FINANCIAL
HIGHLIGHT
|
BALANCE
SHEET |
|||
Unit: Million VND
|
|||
|
Balance sheet
date |
31/12/2009 |
31/12/2008 |
|
|
Number of weeks |
52 |
52 |
|
|
ASSETS |
|||
|
A. Current Asset
|
2,963 |
1,591 |
|
|
Receivables |
2,958 |
1,538 |
|
|
Inventory |
4 |
5 |
|
|
Cash and other
current assets |
1 |
48 |
|
|
B. Long term
Asset |
57 |
104 |
|
|
1. Long term
account receivable |
27 |
69 |
|
|
2. Fixed assets |
29 |
35 |
|
|
Tangible fixed assets |
29 |
35 |
|
|
+ Original cost |
42 |
41 |
|
|
+ Accumulated depreciation value |
13 |
6 |
|
|
Financial leasehold assets |
0 |
|
|
|
Intangible fixed assets |
0 |
|
|
|
Construction in progress and other long term asset |
0 |
|
|
|
TOTAL ASSETS |
3,020 |
1,695 |
|
|
|
|||
|
LIABILITIES |
|||
|
Payable loans |
2,556 |
1,182 |
|
|
Owner’s Equity |
464 |
513 |
|
|
TOTAL LIABILITY
AND EQUITY |
3,020 |
1,695 |
|
|
|
|||
|
PROFIT & LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2009 |
||
|
1. Total Sale |
1,542 |
||
|
2. Deduction item |
0 |
||
|
3. Net sale |
1,542 |
||
|
4. Costs of goods sold |
1,387 |
||
|
5. Gross profit |
155 |
||
|
6. Financial income |
2 |
||
|
7. Financial expenses |
66 |
||
|
8. Selling expenses and Administrative overheads |
135 |
||
|
9. Net operating profit |
-44 |
||
|
10. Other income |
1 |
||
|
11. Other expenses |
3 |
||
|
12. Other profit /(loss) |
-2 |
||
|
13. Total accounting profit before tax |
-46 |
||
|
14. Current corporate income tax |
|
||
|
15. Deferred corporate income tax |
|
||
|
16. Interest from subsidiaries/related companies |
|
||
|
17. Profit after tax |
-46 |
||
|
|
|||
|
PROFIT & LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2008 |
||
|
Total sale |
3,933 |
||
|
Deductions Items |
0 |
||
|
1. Net sale |
3,933 |
||
|
2. Cost of goods sold and operation expense |
3,332 |
||
|
3. Net income from business activities |
601 |
||
|
Income from financial activities |
22 |
||
|
Expenditure from financial activities |
83 |
||
|
4. Net income from financial operation |
-61 |
||
|
Irregular income |
0 |
||
|
Irregular expenditure |
3 |
||
|
5. Irregular Profit |
-3 |
||
|
6. Total pre-tax profit |
537 |
||
PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
Trade Morality |
|
Fair |
|
Liquidity |
|
N/A |
|
Payment status |
|
N/A |
|
Financial Situation |
|
Below Average |
|
Development trend |
|
Stable |
|
Litigation data |
|
No |
|
Bankruptcy |
|
No |
|
Payment Methods |
|
Through its corresponding banks |
|
Sale Methods |
|
To contract |
|
CREDIT INQUIRY: USD 125,000 Against D/A in term Caution |
INTERPRETATION ON THE SCORES
|
FVA
VAN PHUC CO., LTD was established in 2005 under the investment license no.
12/GP-KCN-HD. The subject has chartered capital of USD 428,048. Formerly,
the subject operated in process and preserve of fruit and vegetable. From
2010 to now, it only focuses on trading; it imports fruit and vegetable from
China, and then export all to USA and Russia. Thus, its total employee was
decreased from more 60 people in 2009 to 23 people as current. Its
facilities are average. The subject is a small scale company. It future
prospect seems stable. Financially,
2009 is a hard year of the world economics in general and Vietnamese one in
specific, so the subject has had great effect. This was expressed in the
slump of sale and profit in compared with previous years. Besides, in view of
capital structure, we can see debts usually accounted a high ratio in total
capital. It means the self-financing ability of the subject was not good, and
not really safe for credit. In
general, the position in the industry of the subject is still limited. Its
competitive capability in the market is relatively normal. Its financial
status is below average. The subject only has capacity to meet small
financial commitments. Caution is needed for the normal and big business
transactions with the subject. |
APPENDIXES
|
INDUSTRY DATA |
||||||
|
|
||||||
|
Industry code |
Growth speed by
price compared with 1994 (%) |
Total
enterprises 2009 |
Total employees
2010 (Thous.pers.) |
Annual average
capital of enterprises 2009 (billion dongs) |
||
|
2010 |
2009 |
|||||
|
Agriculture,
Forestry and Fishing |
2.78 |
1.82 |
8,749 |
23,896.3 |
81,559 |
|
|
Industry and
Construction |
7.70 |
5.52 |
85,115 |
10,630 |
2,751,975 |
|
|
Trade and
Services |
7.52 |
6.63 |
154,978 |
14,522 |
4,939,069 |
|
|
|
||||||
|
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 |
72.2 |
57.1 |
62.7 |
|||
|
Imports |
84.8 |
69.9 |
80.7 |
|||
|
Trade Balance |
-12.6 |
-12.8 |
-18 |
|||
Source: General Statistics
Office
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.65 |
|
UK Pound |
1 |
Rs.81.06 |
|
Euro |
1 |
Rs.69.51 |
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.