MIRA INFORM REPORT
|
Report Date : |
12.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
VIETNAM NATIONAL SUNDRIES IMPORT AND EXPORT
JOINT STOCK COMPANY |
|
|
|
|
Registered Office : |
No. 36 Ba Trieu Street, Hoan Kiem District, Ha Noi City |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Year of Establishment : |
1956 |
|
|
|
|
Com. Reg. No.: |
0100106747 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Agricultural and forest products, seafood |
|
|
|
|
No. of Employees
: |
100 persons |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
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
Current legal status
|
||
|
English Name |
|
VIETNAM NATIONAL SUNDRIES IMPORT AND
EXPORT JOINT STOCK COMPANY |
|
Vietnamese Name |
|
CONG TY CO PHAN XUAT NHAP KHAU TAP PHAM |
|
Short name |
|
TOCONTAP HANOI |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
1956 |
|
Business Registration No. |
|
0100106747 |
|
Date of Registration |
|
12 May 2011 |
|
Place of Registration |
|
Hanoi Department of Planning and
Investment |
|
Current registered capital |
|
VND 34,000,000,000 |
|
Status |
|
Unlisted |
|
Tax code |
|
0100106747 |
|
Total Employees |
|
100 |
|
Size |
|
Medium |
Historical
Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Business
Registration No: 0103012689 issued 1st June 2006 Changed to: 0100106747 |
12
May 2011 |
|
2 |
Subject has got former Business Registration
No: 108094 Changed to: No. 0103012689 |
01
Jun 2006 |
|
3 |
Subject has got former Registered English
Name: VIETNAM NATIONAL SUNDRIES IMPORT AND EXPORT COMPANY Changed to: VIETNAM NATIONAL SUNDRIES
IMPORT AND EXPORT JOINT STOCK COMPANY |
01
Jun 2006 |
|
4 |
Subject has got former Registered
Vietnamese Name: CONG TY XUAT NHAP KHAU TAP PHAM Changed to: CONG TY CO PHAN XUAT NHAP KHAU
TAP PHAM |
01
Jun 2006 |
|
5 |
Subject has got former Type of Business:
State Owned Enterprise Changed to: Joint Stock Company |
18
Oct 2005 |
|
6 |
Subject has got former Board Of Director:
Deputy General Director was Mr. Tran Nhu Son. Changed to: Mr. Truong Hong
Hai. |
N/A |
|
7 |
Subject has got former Address: The first
address of Branch in Ho Chi Minh City was No. 173 Hai Ba Trung Str., Ward 6,
Dist 3, Hochiminh City Changed to: No. A75/28, Bach Dang Str,
Ward 2, Tan binh Dist, Ho Chi Minh City |
N/A |
|
8 |
Subject has got former Business
Registration No: 333 TM/TCCB issued on 31st Mar 1993 by Ministry of Trade
Changed to: 108094 |
N/A |
compaNY ADDRESSES
|
Head Office |
||
|
Address |
|
No. 36 Ba Trieu Street, Hoan Kiem
District, Ha Noi City, Vietnam |
|
Telephone |
|
(84-4) 38256655/ 38254191/ 38254115 /
38253571 |
|
Fax |
|
(84-4) 38255917 |
|
Email |
|
|
|
Website |
|
|
|
|
||
|
Branch in An
Giang |
||
|
Address |
|
Hamlet 3 Vinh Xuong Commune, Tan Chau
District, An Giang Province, Vietnam |
|
Note:
The business code no. 0100106747-005. |
||
|
|
||
|
Branch in Hung
Yen |
||
|
Address |
|
An Lac Hamlet Trung Trac Commune, Van Lam
District, Hung Yen Province, Vietnam |
|
Manager |
|
Mr. LE MANH CHIEN |
|
Note:
The business code no. 0100106747-006. |
||
|
|
||
|
Branch in Hai
Phong |
||
|
Address |
|
No. 96A Nguyen Duc Canh Str, Le Chan District,
Hai Phong City, Vietnam |
|
Telephone |
|
(84-31) 3700 752 |
|
Fax |
|
(84-31) 3700 512 |
|
Manager |
|
Mr. LE MANH CHIEN |
|
Main
activities of branch: -
Trading, forwarding of Import and Export products at Hai Phong port -
Dealing in import steel sheet and coils, steel scraps, resin ... |
||
|
|
||
|
Branch in Ho Chi
Minh |
||
|
Address |
|
A75/28 - Bach Dang Street Ward 2, Tan Binh
District, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84- 8) 3848 7956 / 3848 7957 / 3848 7958 |
|
Fax |
|
(84 -8) 3848 7955 |
|
Manager |
|
Mr. TRUONG HONG HAI |
|
Main
activities of branch: -
Trading, forwarding of Import and Export products at Ho Chi Minh City -
Dealing in import and export of general items. |
||
DIRECTORS
|
1.
NAME |
|
Mr.
CAO VAN THUY |
|
Position |
|
Chairman and General Director |
|
Date of Birth |
|
05 Aug 1963 |
|
ID Number/Passport |
|
011539174 |
|
ID Issue Date |
|
10 Nov 2003 |
|
Resident |
|
Room 612 - CT4A2
Block Dai Kim Ward, Hoang Mai District, Ha Noi City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
(84-4) 3825 2076 |
|
Qualification |
|
Management |
|
|
||
|
2.
NAME |
|
Mr.
TRUONG HONG HAI |
|
Position |
|
Deputy General Director |
|
Current resident |
|
A75/28 Bach Dang Street, Tan Binh
District, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
(84- 8) 3848 7956 |
|
Qualification |
|
Management |
|
Mr.
Truong Hong Hai simultaneously as director of HCM City branch recently as
Deputy General Director |
||
|
|
||
|
3.
NAME |
|
Ms.
TRAN THI THUY LAN |
|
Position |
|
Chief of accountant |
|
Nationality |
|
Vietnamese |
BUSINESS NATURE AND ACTIVITIES
|
The subject has registered to trading in many
fields such as: |
IMPORT & EXPORT ACTIVITIES
|
IMPORT: |
||
|
·
Types of products |
|
Materials, Chemical, Steel, Wine, Plastic beads, etc |
|
·
Market |
|
Singapore, Japan, China, U.S.A, Australia, France, Russia |
|
·
Ratio |
|
N/A |
|
·
Mode of payment |
|
L/C, DP, TT |
|
|
||
|
EXPORT: |
||
|
·
Types of products |
|
Pepper, Rice, Cashew nuts, Turmeric |
|
·
Market |
|
China, Malaysia, Indonesia |
|
·
Ratio |
|
N/A |
|
·
Mode of payment |
|
L/C, TT, DP |
BANKERS
|
1.
JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM TRANSACTION CENTER |
||
|
Address |
|
No 31 -33 Ngo Quyen, Hoan Kiem District, Ha Noi City, Vietnam |
|
Telephone |
|
(84-4) 39368547 |
|
Fax |
|
(84-4) 38241395 / 39365534 |
|
|
||
|
2.
BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM HA NOI BRANCH |
||
|
Address |
|
Kinh Do Building, 93 Lo Duc, Hai Ba Trung District, Ha Noi City,
Vietnam |
|
Telephone |
|
(84-4) 38254609 |
|
|
||
|
3.
VIET NAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE HOANG MAI BRANCH |
||
|
Address |
|
No. 2 - 4 Kim Dong str,Giap Bat ward, Hoang Mai District, Ha Noi City,
Vietnam |
|
Telephone |
|
(84-4) 36648701 |
|
|
||
|
4.
VIET NAM BANK FOR AGRICULTURE AND RURAL DEVELOPMENT THANG LONG BRANCH |
||
|
Address |
|
No.4 Pham Ngoc Thach Street, Dong Da District, Ha Noi City, Vietnam |
|
Telephone |
|
(84-4) 38525374 |
|
Fax |
|
(84-4) 38521693 |
|
|
||
|
5.
MILITARY COMMERCIAL JOINT STOCK BANK LY NAM DE BRANCH |
||
|
Address |
|
No.14C Ly Nam De, Hoan Kiem District, Ha Noi City, Vietnam |
|
Telephone |
|
(84-4) 3733 1668 |
|
Fax |
|
(84-4) 3747 1497 |
|
|
||
|
6.
VIETNAM INTERNATIONAL COMMERCIAL JOINT STOCK BANK HOANG QUOC VIET BRANCH |
||
|
Address |
|
No.2 Hoang Quoc Viet Street, Cau Giay District, Ha Noi City, Vietnam |
|
Telephone |
|
(84-4) 3 791 3886 |
|
Fax |
|
(84-4) 3 791 3887 |
SHAREHOLDERS
These are founding shareholders in business registration.
|
||
|
1.
NAME |
|
STATE
SHAREHOLDER |
|
Value of shares |
|
VND 10,013,000,000 |
|
Percentage |
|
29.45% |
|
|
||
|
2.
NAME |
|
97
OTHER SHAREHOLDERS |
|
Value of shares |
|
VND 1,769,000,000 |
|
Percentage |
|
5.2% |
FINANCIAL DATA
|
|
|||
|
BALANCE
SHEET |
|||
Unit: One VND
|
|||
|
Balance sheet
date |
31/12/2010 |
31/12/2009 |
31/12/2008 |
|
Number of weeks |
52 |
52 |
52 |
|
ASSETS |
|||
|
A – CURRENT
ASSETS |
882,066,275,897 |
661,349,000,000 |
394,665,000,000 |
|
I. Cash and cash
equivalents |
33,830,590,168 |
29,359,000,000 |
25,665,000,000 |
|
1. Cash |
33,830,590,168 |
29,359,000,000 |
25,665,000,000 |
|
2. Cash equivalents |
0 |
0 |
0 |
|
II. Short-term
investments |
0 |
0 |
0 |
|
1. Short-term investments |
0 |
0 |
0 |
|
2. Provisions for devaluation of short-term investments |
0 |
0 |
0 |
|
III. Accounts
receivable |
568,911,288,933 |
441,401,000,000 |
204,999,000,000 |
|
1. Receivable from customers |
389,385,818,361 |
305,672,000,000 |
92,285,000,000 |
|
2. Prepayments to suppliers |
179,724,681,940 |
136,123,000,000 |
112,648,000,000 |
|
3. Inter-company receivable |
0 |
0 |
344,000,000 |
|
4. Receivable according to the progress of construction |
0 |
0 |
0 |
|
5. Other receivable |
333,779,868 |
154,000,000 |
280,000,000 |
|
6. Provisions for bad debts |
-532,991,236 |
-548,000,000 |
-558,000,000 |
|
IV. Inventories |
265,622,009,641 |
170,587,000,000 |
152,499,000,000 |
|
1. Inventories |
265,938,218,641 |
170,904,000,000 |
152,815,000,000 |
|
2. Provisions for devaluation of inventories |
-316,209,000 |
-317,000,000 |
-316,000,000 |
|
V. Other Current
Assets |
13,702,387,155 |
20,002,000,000 |
11,502,000,000 |
|
1. Short-term prepaid expenses |
0 |
0 |
0 |
|
2. VAT to be deducted |
6,353,157,091 |
12,916,000,000 |
2,399,000,000 |
|
3. Taxes and other accounts receivable from the State |
0 |
2,000,000 |
1,410,000,000 |
|
4. Other current assets |
7,349,230,064 |
7,084,000,000 |
7,693,000,000 |
|
B. LONG-TERM
ASSETS |
21,616,802,632 |
20,290,000,000 |
16,908,000,000 |
|
I. Long term
accounts receivable |
0 |
0 |
0 |
|
1. Long term account receivable from customers |
0 |
0 |
0 |
|
2. Working capital in affiliates |
0 |
0 |
0 |
|
3. Long-term inter-company receivable |
0 |
0 |
0 |
|
4. Other long-term receivable |
0 |
0 |
0 |
|
5. Provisions for bad debts from customers |
0 |
0 |
0 |
|
II. Fixed assets
|
11,972,288,087 |
12,145,000,000 |
12,296,000,000 |
|
1. Tangible assets |
3,015,866,359 |
3,481,000,000 |
3,930,000,000 |
|
- Historical costs |
8,174,134,673 |
8,145,000,000 |
8,098,000,000 |
|
- Accumulated depreciation |
-5,158,268,314 |
-4,664,000,000 |
-4,168,000,000 |
|
2. Financial leasehold assets |
190,748,092 |
207,000,000 |
223,000,000 |
|
- Historical costs |
463,500,000 |
464,000,000 |
464,000,000 |
|
- Accumulated depreciation |
-272,751,908 |
-257,000,000 |
-241,000,000 |
|
3. Intangible assets |
7,720,420,000 |
7,720,000,000 |
7,720,000,000 |
|
- Initial costs |
7,720,420,000 |
7,720,000,000 |
7,720,000,000 |
|
- Accumulated amortization |
0 |
0 |
0 |
|
4. Construction-in-progress |
1,045,253,636 |
737,000,000 |
423,000,000 |
|
III. Investment
property |
0 |
0 |
0 |
|
Historical costs |
0 |
0 |
0 |
|
Accumulated depreciation |
0 |
0 |
0 |
|
IV. Long-term
investments |
5,182,530,000 |
3,683,000,000 |
150,000,000 |
|
1. Investments in affiliates |
0 |
0 |
0 |
|
2. Investments in business concerns and joint ventures |
0 |
0 |
0 |
|
3. Other long-term investments |
5,182,530,000 |
3,683,000,000 |
150,000,000 |
|
4. Provisions for devaluation of long-term investments |
0 |
0 |
0 |
|
V. Other
long-term assets |
4,461,984,545 |
4,462,000,000 |
4,462,000,000 |
|
1. Long-term prepaid expenses |
4,461,984,545 |
4,462,000,000 |
4,462,000,000 |
|
2. Deferred income tax assets |
0 |
0 |
0 |
|
3. Other long-term assets |
0 |
0 |
0 |
|
VI. Goodwill |
|
|
|
|
1. Goodwill |
|
|
|
|
TOTAL ASSETS |
903,683,078,529 |
681,639,000,000 |
411,573,000,000 |
|
|
|||
|
LIABILITIES |
|||
|
A- LIABILITIES |
823,104,124,313 |
609,759,000,000 |
347,837,000,000 |
|
I. Current
liabilities |
822,856,954,735 |
609,583,000,000 |
347,725,000,000 |
|
1. Short-term debts and loans |
662,928,581,852 |
464,996,000,000 |
212,338,000,000 |
|
2. Payable to suppliers |
81,832,535,811 |
55,857,000,000 |
35,163,000,000 |
|
3. Advances from customers |
62,644,067,314 |
63,308,000,000 |
88,019,000,000 |
|
4. Taxes and other obligations to the State Budget |
11,568,993,509 |
19,397,000,000 |
5,062,000,000 |
|
5. Payable to employees |
2,829,959,320 |
4,595,000,000 |
2,393,000,000 |
|
6. Accrued expenses |
929,267,771 |
1,327,000,000 |
1,187,000,000 |
|
7. Inter-company payable |
0 |
0 |
344,000,000 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
0 |
|
9. Other payable |
123,549,158 |
103,000,000 |
3,219,000,000 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
0 |
|
II. Long-Term
Liabilities |
247,169,578 |
176,000,000 |
112,000,000 |
|
1. Long-term accounts payable to suppliers |
0 |
0 |
0 |
|
2. Long-term inter-company payable |
0 |
0 |
0 |
|
3. Other long-term payable |
0 |
0 |
0 |
|
4. Long-term debts and loans |
0 |
0 |
0 |
|
5. Deferred income tax payable |
0 |
0 |
0 |
|
6. Provisions for unemployment allowances |
247,169,578 |
176,000,000 |
112,000,000 |
|
7. Provisions for long-term accounts payable |
0 |
0 |
0 |
|
B- OWNER’S
EQUITY |
80,578,954,216 |
71,880,000,000 |
63,736,000,000 |
|
I. OWNER’S
EQUITY |
78,663,160,215 |
70,522,000,000 |
63,074,000,000 |
|
1. Capital |
34,000,000,000 |
34,000,000,000 |
34,000,000,000 |
|
2. Share premiums |
0 |
0 |
0 |
|
3. Other sources of capital |
0 |
0 |
0 |
|
4. Treasury stocks |
0 |
0 |
0 |
|
5. Differences on asset revaluation |
0 |
0 |
0 |
|
6. Foreign exchange differences |
0 |
-811,000,000 |
0 |
|
7. Business promotion fund |
15,165,986,815 |
10,723,000,000 |
2,264,000,000 |
|
8. Financial reserved fund |
4,501,903,137 |
0 |
0 |
|
9. Other funds |
3,400,000,000 |
6,421,000,000 |
0 |
|
10. Retained earnings |
21,595,270,263 |
20,189,000,000 |
26,810,000,000 |
|
11. Construction investment fund |
0 |
0 |
0 |
|
II. Other
sources and funds |
1,915,794,001 |
1,358,000,000 |
662,000,000 |
|
1. Bonus and welfare funds |
1,915,794,001 |
1,358,000,000 |
662,000,000 |
|
2. Sources of expenditure |
0 |
0 |
0 |
|
3. Fund to form fixed assets |
0 |
0 |
0 |
|
MINORITY’S
INTEREST |
|
|
0 |
|
TOTAL
LIABILITIES AND OWNER’S EQUITY |
903,683,078,529 |
681,639,000,000 |
411,573,000,000 |
|
PROFIT
& LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2010 |
FY2009 |
FY2008 |
|
1. Total Sales |
2,298,093,612,100
|
2,034,176,000,000
|
1,330,208,000,000
|
|
2. Deduction item |
0 |
0 |
0 |
|
3. Net revenue |
2,298,093,612,100
|
2,034,176,000,000
|
1,330,208,000,000
|
|
4. Costs of goods sold |
2,195,875,251,843 |
1,968,244,000,000 |
1,278,446,000,000 |
|
5. Gross profit |
102,218,360,257 |
65,932,000,000 |
51,762,000,000 |
|
6. Financial income |
4,621,893,583 |
2,866,000,000 |
1,059,000,000 |
|
7. Financial expenses |
68,320,316,120 |
31,663,000,000 |
32,992,000,000 |
|
- In which: Loan interest expenses |
59,224,830,849 |
31,104,000,000 |
31,707,000,000 |
|
8. Selling expenses |
13,484,016,955 |
13,942,000,000 |
8,075,000,000 |
|
9. Administrative overheads |
6,873,618,038 |
6,993,000,000 |
3,909,000,000 |
|
10. Net operating profit |
18,162,302,727 |
16,200,000,000 |
7,845,000,000 |
|
11. Other income |
368,952,701 |
16,000,000 |
35,837,000,000 |
|
12. Other expenses |
0 |
0 |
10,181,000,000 |
|
13. Other profit /(loss) |
368,952,701 |
16,000,000 |
25,656,000,000 |
|
14. Total accounting profit before tax |
18,531,255,428 |
16,216,000,000 |
33,501,000,000 |
|
15. Current corporate income tax |
2,316,406,929 |
1,408,000,000 |
3,291,000,000 |
|
16. Deferred corporate income tax |
0 |
0 |
0 |
|
17. Interest from subsidiaries/related companies |
0 |
0 |
0 |
|
18. Profit after tax |
16,214,848,499 |
14,808,000,000 |
30,210,000,000 |
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||||
|
|
||||
|
Description |
FY2010 |
FY2009 |
FY2008 |
Average Industry |
|
Current liquidity ratio |
1.07 |
1.08 |
1.14 |
1.94 |
|
Quick liquidity ratio |
0.75 |
0.81 |
0.70 |
0.98 |
|
Inventory circle |
8.27 |
11.54 |
8.38 |
9.29 |
|
Average receive period |
90.36 |
79.20 |
56.25 |
54.01 |
|
Utilizing asset performance |
2.54 |
2.98 |
3.23 |
2.21 |
|
Liability by total assets |
91.08 |
89.45 |
84.51 |
58.72 |
|
Liability by owner's equity |
1,021.49 |
848.30 |
545.75 |
256.76 |
|
Ebit / Total assets (ROA) |
8.60 |
6.94 |
15.84 |
7.90 |
|
Ebit / Owner's equity (ROE) |
96.50 |
65.83 |
102.31 |
25.68 |
|
Ebit / Total revenue (NPM) |
3.38 |
2.33 |
4.90 |
4.18 |
|
Gross profit / Total revenue (GPM) |
4.45 |
3.24 |
3.89 |
15.30 |
|
Note: The Average Industry was calculated by VietnamCredit based on our own
statistical data |
||||
PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
Trade Morality |
|
Normal |
|
Liquidity |
|
Medium |
|
Payment status |
|
Average |
|
Financial Situation |
|
Above Average |
|
Development trend |
|
Uptrend |
|
Litigation data |
|
No |
|
Bankruptcy |
|
No |
|
Payment Methods |
|
L/C, TT, DP |
|
Sale Methods |
|
Retailer and Wholesaler |
|
Public opinion |
|
Average |
CREDIT INQUIRY:
N/A
INTERPRETATION ON THE SCORES
|
With
in over 50 years of activities, the subject is one of the oldest companies in
international trading field. After many separate times, the subject had
separated some part to establish other companies such as Artexport, Bartex,
Textimex, Mecanimex … At
present, besides the head office in Hanoi City, the subject also has branches
in Hai Phong and Hochiminh Cities. It has just put into operating two
branches in An Giang province and Hung Yen province. Total employees are
about 100 people. TOCONTAP
HANOI has set up wide network covering more than 40 countries and territories.
The activities of the company are not only limited in the field of import and
export, but also extends to other fields such as processing, imported agent,
producing exported merchandise… The
subject imports mainly from Singapore, China, Japan, U.S.A, France, Russia,
etc. The exported activities are also busy. TOCONTAP HANOI imports mainly
agriculture products and textile fabrics to Japan, Hungary and Canada.
Besides, it is focusing on developing market share in domestic. Financially,
the subject has increased total asset and total sale through years. In 2009,
2010 profit after tax have reduced comparison with its value in 2008; however
profitability of the subject is positive and higher much than average
industry. The subject is operating effectively with high Utilizing asset
performance and Inventory circle. Notably, liquidity ratios of the subject
are medium whereas its leverage ratios are too high. It shows that subject’s
financial structure is not stable and it is operating mainly base on liabilities. In
overview, the subject is operating in big scale. Its position is quite good
in the market and the subject has experience in the field of business.
Financial situation of the subject is fair. It has capacity to meet small and
normal financial commitments. |
APPENDIX
|
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.52.23 |
|
UK Pound |
1 |
Rs.81.55 |
|
Euro |
1 |
Rs.69.60 |
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.