MIRA INFORM REPORT

 

 

Report Date :           

07.12.2011

 

IDENTIFICATION DETAILS

 

Name :

THANH XUAN IMPORT EXPORT AND TRADING JOINT STOCK COMPANY 

 

 

Registered Office :

No. 130 Lane 342 Ha Dinh Str, Thanh Xuan District, Ha Noi City

 

 

Country :

Vietnam

 

 

Financials (as on) :

31.12.2008

 

 

Year of Establishment :

2007

 

 

Com. Reg. No.:

0103021155

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacturing and trading machines, equipments, devices and materials for sport industry

 

 

No. of Employees :

60 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 :

No Complaints

 

 

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

 

THANH XUAN IMPORT EXPORT AND TRADING JOINT STOCK COMPANY

Vietnamese Name

 

CONG TY CO PHAN THUONG MAI VA XUAT NHAP KHAU THANH XUAN

Type of Business

 

Joint stock company

Year Established

 

2007

Business Registration No.

 

0103021155

Date of Registration

 

07 Dec 2007

Place of Registration

 

Hanoi Department of Planning and Investment

Current registered capital

 

10,000,000,000 VND

Status

 

Unlisted

Tax code

 

0102561036

Total Employees

 

60

 

Note: The number given is the Tax Code No. of the subject.

 

 

company ADDRESSES

 

Head Office

Address

 

No. 130 Lane 342 Ha Dinh Str, Thanh Xuan District, Ha Noi City, Vietnam

Telephone

 

(84-4) 6285 0782

Fax

 

(84-4) 6285 0781

 

 

DIRECTORS

 

1. NAME

 

Mr. DO TRUNG KIEN

Position

 

Director

Date of Birth

 

27 Jun 1974

ID Number/Passport

 

011658337

Resident

 

26A - A6 Cau Duong Collective Zone, Van Chuong Ward, Dong Da District, Ha Noi City, Vietnam

Nationality

 

Vietnamese

BUSINESS NATURE AND ACTIVITIES

 

The subject is operating in the following business activities:

- Manufacturing and trading machines, equipments, devices and materials for sport industry.
- Trading other goods.

 

 

IMPORT & EXPORT ACTIVITIES

 

IMPORT:

·         Types of products

 

Sport shoes, balls

·         Market

 

China, Singapore, India, Pakistan

·         Mode of payment

 

LC, TTR

 

EXPORT:

·         Market

 

The subject does not export.

 

 

 

BANKERS

 

VIETNAM TECHNOLOGICAL AND COMMERCIAL JOINT STOCK BANK NGUYEN CO THACH BRANCH

Address

 

C3 Building My Dinh Urban Area, Nguyen Co Thach Str, Tu Liem District, Ha Noi City, Vietnam

Telephone

 

(84-4) 62871702/03/04

Fax

 

(84-4) 62871976

 

 

SHAREHOLDERS

 

The followings are the founding shareholders of the subject.

1. NAME

 

Mr. DO TRUNG KIEN

Position

 

Director

Date of Birth

 

27 Jun 1974

ID Number/Passport

 

011658337

Issued on

 

30 Mar 2000

Issued Place

 

Public Securities of Hanoi City

Resident

 

26A - A6 Cau Duong Collective Zone, Van Chuong Ward, Dong Da District, Ha Noi City, Vietnam

Nationality

 

Vietnamese

Number of Shares

 

50,000

Value of shares

 

500,000,000 VND

Percentage

 

5%

 

2. NAME

 

Mr. NGUYEN DUC MINH

ID Number/Passport

 

011312763

Resident

 

Group 13 Tuong Mai Ward, Hoang Mai District, Ha Noi City, Vietnam

Nationality

 

Vietnamese

Number of Shares

 

25,000

Value of shares

 

250,000,000 VND

Percentage

 

2.5%

 

3. NAME

 

Ms. LE THI KIM OANH

ID Number/Passport

 

010184192

Resident

 

Group 13 Tuong Mai Ward, Hoang Mai District, Ha Noi City, Vietnam

Nationality

 

Vietnamese

Number of Shares

 

125,000

Value of shares

 

1,250,000,000 VND

Percentage

 

12.5%

 

 

FINANCIAL HIGHLIGHT

 

BALANCE SHEET

Unit: Million VND

Balance sheet date

31/12/2008

Number of weeks

52

ASSETS

A. Current Asset

3,469

Receivables

418

Inventory

2,495

Cash and other current assets

556

B. Long term Asset

19

1. Long term account receivable

0

2. Fixed assets

9

Tangible fixed assets

9

+ Original cost

18

+ Accumulated depreciation value

9

Financial leasehold assets

0

Intangible fixed assets

0

Construction in progress and other long term asset

0

TOTAL ASSETS

3,488

 

LIABILITIES

Payable loans

2,635

Owner’s Equity

853

TOTAL LIABILITY AND EQUITY

3,488

 

PROFIT & LOSS STATEMENT

 

Total sale

12,579

Deductions Items

0

1. Net sale

12,579

2. Cost of goods sold and operation expense

12,592

3. Net income from business activities

-13

Income from financial activities

16

Expenditure from financial activities

0

4. Net income from financial operation

16

Irregular income

0

Irregular expenditure

0

5. Irregular Profit

0

6. Total pre-tax profit

3

 

 

PAYMENT HISTORY & PERFORMANCE EXPERIENCES

 

Trade Morality

 

Normal

Liquidity

 

N/a

Payment status

 

N/a

Financial Situation

 

Below Average

Development trend

 

Positive

Litigation data

 

No Record

Bankruptcy

 

No Record

Payment Methods

 

LC, TTR

Sale Methods

 

Wholesaler

Public opinion

 

Normal

 

 

CREDIT INQUIRY: 125,000 USD against DA in terms

Caution is needed for the credit inquiry given.

 

 

 

INTERPRETATION ON THE SCORES

 

The subject was firstly established in December 2007 as a joint stock company following the business registration No. 0103021155. The registered capital is currently VND 10,000,000,000. The total number of employees is about 60 people. It is one of company members of Dong Luc Sport Joint Stock Company, which is located near the subject's address.

 The head office of the subject is located at No. 130 Lane 342 Ha Dinh Str, Thanh Xuan District, Ha Noi City, Vietnam. The premises and facilities are on average. The main business activities of the company are manufacturing and trading machines, equipments, devices and materials for sport industry. Besides, it is also trading other goods such as food, rubber, medical device, etc. The subject mainly imports from China, Singapore, India, Pakistan…

The latest financial statement is not provided from the subject or available in our source at the moment. Based on the financial highlight, the year 2008 was the second year of its official operation. Therefore, the subject achieved modest business result in 2008 with the total sales of VND 12,579 million. The financial income was also small. Thus, the profit amount was limited. According to Ms. Hoa – Chief Accountant, the business operation of the subject has been improved up to now. However, she did not give detailed figures.

In general, the subject is a small sized company in the industry. Its position and trademark are not yet considerable in the market. The management capacity is not really remarkable. Caution is needed for normal and big financial commitments 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.51.39

UK Pound

1

Rs.80.20

Euro

1

Rs.68.92

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.