MIRA INFORM REPORT
|
Report Date : |
29.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
QUANG MINH CORPORATION JOINT STOCK
COMPANY |
|
|
|
|
Registered Office : |
M- Floor, Sofitel Plaza Ha Noi Hotel No 1, Thanh Nien street, Truc Bach Ward, Ba Dinh District, Ha Noi City |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Year of Establishment : |
2002 |
|
|
|
|
Com. Reg. No.: |
101205275 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and trading animal feeds and seafood, agricultural products and
cooking oil |
|
|
|
|
No. of Employees
: |
1,000 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
Current legal status
|
||
|
Registered English Name |
|
QUANG MINH CORPORATION JOINT STOCK COMPANY
|
|
Registered Vietnamese Name |
|
CONG TY CO PHAN TAP DOAN QUANG MINH |
|
Registered short name |
|
QUANG MINH CORP ., JSC |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
2002 |
|
Business Registration No. |
|
0101205275 |
|
Date of Registration |
|
19 May 2010 |
|
Place of Registration |
|
Hanoi Planning and Investment Department |
|
Current registered capital |
|
VND 989,000,000,000 |
|
Status |
|
Unlisted |
|
Tax code |
|
0101205275 |
|
Total Employees |
|
1,000 |
Historical
Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Registered capital:
668,000,000,000 VND Changed to: 989,000,000,000 VND |
26
Oct 2011 |
|
2 |
Subject has got former Registered capital:
VND 368,000,000,000 in May 2010 Changed to: VND 668,000,000,000 |
10
Mar 2011 |
|
3 |
Subject has got former Registered English
Name: QUANG MINH TECHNOLOGYCAL DEVELOPMENT AND INVESTMENT COMPANY LIMITED Changed to: QUANG MINH CORPORATION JOINT
STOCK COMPANY |
19
May 2010 |
|
4 |
Subject has got former Abbreviated Name:
QUANG MINH CO., LTD Changed to: QUANG MINH CORP.,JSC |
19
May 2010 |
|
5 |
Subject has got former Type of Business:
Limited Liability Company Changed to: Joint Stock Company |
19
May 2010 |
|
6 |
Subject has got former Business
Registration No: 0102004382 issued on 21st Jan 2002 Changed to: 0101205275 |
19
May 2010 |
|
7 |
Subject has got former Registered
Vietnamese Name: CONG TY TNHH DAU TU VA PHAT TRIEN CONG NGHE QUANG MINH Changed to: CONG TY CO PHAN TAP DOAN QUANG
MINH |
19
May 2010 |
|
8 |
Subject has got former Address: No. 499
Tran Khat Chan Str., Thanh Nhan Ward, Hai Ba Trung Dist, Hanoi city Changed to: No. 434 Tran Khat Chan Str.,
Pho Hue Ward, Hai Ba Trung Dist, Hanoi City |
01
Jun 2009 |
|
9 |
Subject has got former Address: No. 434,
Tran Khat Chan Street, Pho Hue Ward, Hai Ba Trung District, Ha Noi City, Viet
Nam Changed to: M Floor, Sofitel Plaza Ha Noi
Hotel, No. 1, Thanh Nien Street, Truc Bach Ward, Ba Dinh District, Ha Noi
CIty, Viet Nam |
N/A |
company ADDRESSES
|
Head Office |
||
|
Address |
|
M- Floor, Sofitel Plaza Ha Noi Hotel No 1,
Thanh Nien street, Truc Bach Ward, Ba Dinh District, Ha Noi City, Vietnam |
|
Telephone |
|
(84-4) 36225123 |
|
Fax |
|
(84-4) 36241559 |
|
|
||
|
Branch in Quang
Ninh |
||
|
Address |
|
Cai Lan Industrial Park - Bai Chay Ward,
Ha Long city, Quang Ninh Province, Vietnam |
|
Telephone |
|
(84-33) 3515066 |
|
Fax |
|
(84-33) 3512438 |
|
|
||
|
Branch in Dong
Nai |
||
|
Address |
|
Tam Phuoc , Long Thanh District, Dong Nai
Province, Vietnam |
SUBSIDIARIES AND RELATED
COMPANIES
|
1. QUANG MINH
VEGETABLE OIL JOINT STOCK COMPANY |
||
|
Business Registration |
|
0900269500 |
|
Tax code |
|
0900269500 |
|
Address |
|
Kim Dong IP , Kim Dong District, Hung Yen Province, Vietnam |
|
Tel |
|
(84-321) 3821 888 |
|
Fax |
|
(84-321) 3811 999 |
|
|
||
|
2. QUANG MINH
NUTRITION JOINT STOCK COMPANY |
||
|
Tax code |
|
1000420278 |
|
Address |
|
Lot DT, Nguyen Mau Kien Street, Phuc Khanh IP, Thai Binh Province,
Vietnam |
|
Tel |
|
(84-36) 3615 888 |
|
Fax |
|
(84-36) 3615 666 |
DIRECTORS
|
1.
NAME |
|
Mr.
TRAN THANH QUANG |
|
Position |
|
General Director |
|
Date of Birth |
|
14 Feb 1973 |
|
ID Number/Passport |
|
012491376 |
|
ID Issue Date |
|
06 May 2010 |
|
ID Issue Place |
|
Ha noi Police Station
|
|
Resident |
|
No. 31-C2, Nam Thang
Long Urban Phu Thuong Ward, Tay Ho District, Ha Noi City, Vietnam |
|
Current resident |
|
No. 31 - C2, Nam Thang Long Urban Phu
Thuong Ward, Tay Ho District, Ha Noi City, Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
2.
NAME |
|
Mr.
TRAN VAN TOAN |
|
Position |
|
Deputy General Director |
|
Date of Birth |
|
09 Jul 1978 |
|
ID Number/Passport |
|
013039761 |
|
ID Issue Date |
|
28 Feb 2008 |
|
ID Issue Place |
|
Hanoi Police station |
|
Current resident |
|
Zoom 714 - Building 5 Phap Van – Tu Hiep
New Urban Area - Hoang Liet Ward, Hoang Mai District, Ha Noi City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
+84 983366577 |
|
|
||
|
3.
NAME |
|
Ms.
LUU THI HONG YEN |
|
Position |
|
Chief Accountant |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
(84-4) 36225123 EXT 18 |
BUSINESS NATURE AND ACTIVITIES
|
- Manufacturing and trading animal feeds and
seafood, agricultural products and cooking oil |
IMPORT & EXPORT ACTIVITIES
|
IMPORT: |
||
|
·
Types of products |
|
Animal feed |
|
·
Market |
|
USA, India, China, Peru... |
|
·
Ratio |
|
60% |
|
·
Mode of payment |
|
L/C, T/T, D/P |
|
|
||
|
EXPORT: |
||
|
·
Types of products |
|
Cooking oil |
|
·
Market |
|
Asian Countries |
BANKERS
|
1.
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 |
|
|
||
|
2.
VIET NAM BANK FOR AGRICULTURE AND RURAL DEVELOPMENT BACH KHOA BRANCH |
||
|
Address |
|
92 Vo Thi Sau Str, Hai Ba Trung District, Ha Noi City, Vietnam |
|
Telephone |
|
(84-4) 6226956 |
SHAREHOLDERS
|
1.
NAME |
|
Mr.
TRAN THANH QUANG |
|
Position |
|
General Director |
|
Date of Birth |
|
14 Feb 1973 |
|
ID Number/Passport |
|
012491376 |
|
Issued on |
|
06 May 2010 |
|
Issued Place |
|
Ha noi Police Station |
|
Resident |
|
No. 31-C2, Nam Thang Long Urban Phu Thuong
Ward, Tay Ho District, Ha Noi City, Vietnam |
|
Current Resident |
|
No. 31 - C2, Nam Thang Long Urban Phu
Thuong Ward, Tay Ho District, Ha Noi City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
74,150,000 |
|
Value of shares |
|
VND 741,750,000,000 |
|
Percentage |
|
75% |
|
|
||
|
2.
NAME |
|
Mr.
TRAN THANH VINH |
|
ID Number/Passport |
|
151137056 |
|
Resident |
|
Song Tien hamlet Vu Tien commune, Vu Thu
District, Thai Binh Province, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
12,362,500 |
|
Value of shares |
|
VND 123,625,000,000 |
|
Percentage |
|
12.5% |
|
|
||
|
3.
NAME |
|
Mr.
TRAN VAN TOAN |
|
Date of Birth |
|
01 Jan 1978 |
|
ID Number/Passport |
|
013036761 |
|
Issued Place |
|
Police station of Ha Noi City |
|
Resident |
|
Hoang Liet Ward, Hoang Mai District, Ha
Noi City, Vietnam |
|
Mobile phone |
|
++84 983 366 577 |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
12,362,500 |
|
Value of shares |
|
VND 123,625,000,000 |
|
Percentage |
|
12.5% |
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 |
986,779,762,842
|
410,642,108,204
|
228,694,296,331
|
|
I. Cash and cash
equivalents |
9,258,913,351
|
20,790,846,940
|
12,825,570,810
|
|
1. Cash |
9,258,913,351 |
20,790,846,940 |
12,825,570,810 |
|
2. Cash equivalents |
0 |
0 |
0 |
|
II. Short-term
investments |
11,700,000,000
|
0 |
0 |
|
1. Short-term investments |
- |
0 |
0 |
|
2. Provisions for devaluation of short-term investments |
- |
0 |
0 |
|
III. Accounts
receivable |
679,706,030,348
|
248,677,056,104
|
91,431,217,206
|
|
1. Receivable from customers |
217,388,564,130 |
126,044,587,731 |
30,269,956,782 |
|
2. Prepayments to suppliers |
461,617,453,661 |
122,371,285,607 |
32,174,144,117 |
|
3. Inter-company receivable |
0 |
0 |
0 |
|
4. Receivable according to the progress of construction |
0 |
0 |
0 |
|
5. Other receivable |
700,012,557 |
261,182,766 |
28,987,116,307 |
|
6. Provisions for bad debts |
0 |
0 |
0 |
|
IV. Inventories |
275,207,485,981
|
124,796,765,626
|
119,624,733,761
|
|
1. Inventories |
275,207,485,981 |
124,796,765,626 |
119,624,733,761 |
|
2. Provisions for devaluation of inventories |
|
|
|
|
V. Other Current
Assets |
10,907,333,162
|
16,377,439,534
|
4,812,774,554
|
|
1. Short-term prepaid expenses |
0 |
0 |
0 |
|
2. VAT to be deducted |
0 |
0 |
220,295,457 |
|
3. Taxes and other accounts receivable from the State |
0 |
0 |
0 |
|
4. Other current assets |
10,907,333,162 |
16,377,439,534 |
4,592,479,097 |
|
B. LONG-TERM
ASSETS |
259,417,483,072
|
80,484,396,594
|
50,305,317,602
|
|
I. Long term
accounts receivable |
546,783,766
|
0 |
0 |
|
1. Long term account receivable from customers |
- |
0 |
0 |
|
2. Working capital in affiliates |
- |
0 |
0 |
|
3. Long-term inter-company receivable |
- |
0 |
0 |
|
4. Other long-term receivable |
- |
0 |
0 |
|
5. Provisions for bad debts from customers |
- |
0 |
0 |
|
II. Fixed assets
|
93,962,395,752
|
67,784,803,330
|
40,788,389,998
|
|
1. Tangible assets |
40,626,520,279 |
36,195,866,718 |
17,629,016,501 |
|
- Historical costs |
46,395,124,991 |
40,139,674,780 |
19,554,655,131 |
|
- Accumulated depreciation |
-5,768,604,712 |
-3,943,808,062 |
-1,925,638,630 |
|
2. Financial leasehold assets |
0 |
0 |
0 |
|
- Historical costs |
0 |
0 |
0 |
|
- Accumulated depreciation |
0 |
0 |
0 |
|
3. Intangible assets |
0 |
0 |
0 |
|
- Initial costs |
0 |
0 |
0 |
|
- Accumulated amortization |
0 |
0 |
0 |
|
4. Construction-in-progress |
53,335,875,473 |
31,588,936,612 |
23,159,373,497 |
|
III. Investment
property |
0 |
0 |
0 |
|
Historical costs |
0 |
0 |
0 |
|
Accumulated depreciation |
0 |
0 |
0a |
|
IV. Long-term
investments |
164,200,000,000
|
10,000,000,000
|
5,000,000,000
|
|
1. Investments in affiliates |
0 |
0 |
0 |
|
2. Investments in business concerns and joint ventures |
0 |
0 |
0 |
|
3. Other long-term investments |
164,200,000,000 |
10,000,000,000 |
5,000,000,000 |
|
4. Provisions for devaluation of long-term investments |
0 |
0 |
0 |
|
V. Other
long-term assets |
708,303,554
|
2,699,593,264
|
4,516,927,604
|
|
1. Long-term prepaid expenses |
0 |
648,168,342 |
0 |
|
2. Deferred income tax assets |
0 |
0 |
0 |
|
3. Other long-term assets |
708,303,554 |
2,051,424,922 |
4,516,927,604 |
|
VI. Goodwill |
0 |
0 |
0 |
|
1. Goodwill |
0 |
0 |
0 |
|
TOTAL ASSETS |
1,246,197,245,914
|
491,126,504,798
|
278,999,613,933
|
|
|
|||
|
LIABILITIES |
|||
|
A- LIABILITIES |
879,526,524,598
|
312,972,508,196
|
198,542,517,676
|
|
I. Current
liabilities |
867,534,870,938
|
302,001,411,354
|
186,190,620,023
|
|
1. Short-term debts and loans |
615,041,397,685 |
274,898,865,070 |
180,294,583,200 |
|
2. Payable to suppliers |
212,152,550,940 |
22,081,835,326 |
4,651,958,630 |
|
3. Advances from customers |
37,627,027,944 |
1,663,841,808 |
302,055,335 |
|
4. Taxes and other obligations to the State Budget |
2,606,008,536 |
3,356,869,150 |
942,022,858 |
|
5. Payable to employees |
107,885,833 |
0 |
0 |
|
6. Accrued expenses |
0 |
0 |
0 |
|
7. Inter-company payable |
0 |
0 |
0 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
0 |
|
9. Other payable |
0 |
0 |
0 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
0 |
|
II. Long-Term
Liabilities |
11,991,653,660
|
10,971,096,842
|
12,351,897,653
|
|
1. Long-term accounts payable to suppliers |
11,991,653,660 |
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 |
10,971,096,842 |
12,351,897,653 |
|
5. Deferred income tax payable |
0 |
0 |
0 |
|
6. Provisions for unemployment allowances |
0 |
0 |
0 |
|
7. Provisions for long-term accounts payable |
0 |
0 |
0 |
|
B- OWNER’S
EQUITY |
366,670,721,316
|
178,153,996,602
|
80,457,096,257
|
|
I. OWNER’S
EQUITY |
366,670,721,316
|
178,153,996,602
|
80,457,096,257
|
|
1. Capital |
368,000,000,000 |
180,000,000,000 |
80,000,000,000 |
|
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 |
0 |
0 |
|
7. Business promotion fund |
0 |
0 |
0 |
|
8. Financial reserved fund |
0 |
0 |
0 |
|
9. Other funds |
0 |
0 |
0 |
|
10. Retained earnings |
-1,329,278,684 |
-1,846,003,398 |
457,096,257 |
|
11. Construction investment fund |
0 |
0 |
0 |
|
II. Other
sources and funds |
0 |
0 |
0 |
|
1. Bonus and welfare funds |
0 |
0 |
0 |
|
2. Sources of expenditure |
0 |
0 |
0 |
|
3. Fund to form fixed assets |
0 |
0 |
0 |
|
MINORITY’S
INTEREST |
0 |
0 |
0 |
|
TOTAL
LIABILITIES AND OWNER’S EQUITY |
1,246,197,245,914
|
491,126,504,798
|
278,999,613,933
|
|
PROFIT
& LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2010 |
FY2009 |
FY2008 |
|
1. Total Sales |
1,683,402,220,153
|
815,029,493,234
|
253,169,776,626
|
|
2. Deduction item |
0 |
0 |
0 |
|
3. Net sale |
1,683,402,220,153
|
815,029,493,234
|
253,169,776,626
|
|
4. Costs of goods sold |
1,593,663,532,315 |
780,599,530,245 |
237,183,853,947 |
|
5. Gross profit |
89,738,687,838
|
34,429,962,989
|
15,985,922,679
|
|
6. Financial income |
544,342,150 |
2,053,881,869 |
64,699,757 |
|
7. Financial expenses |
63,924,451,762 |
25,129,556,424 |
7,833,946,883 |
|
- In which: Loan interest expenses |
42,656,685,345 |
16,814,742,367 |
7,833,946,883 |
|
8. Selling expenses |
|
|
|
|
9. Administrative overheads |
32,977,506,503 |
13,699,761,342 |
9,163,438,826 |
|
10. Net operating profit |
-6,618,928,277
|
-2,345,472,908
|
-946,763,273
|
|
11. Other income |
12,231,721,080 |
3,437,729,273 |
1,415,361,739 |
|
12. Other expenses |
4,923,826,516 |
476,194,087 |
0 |
|
13. Other profit /(loss) |
7,307,894,564
|
2,961,535,186
|
1,415,361,739
|
|
14. Total accounting profit before tax |
688,966,287
|
616,062,278
|
468,598,466
|
|
15. Current corporate income tax |
0 |
107,810,899 |
72,359,046 |
|
16. Deferred corporate income tax |
0 |
0 |
0 |
|
17. Interest from subsidiaries/related companies |
0 |
0 |
0 |
|
18. Profit after tax |
688,966,287
|
508,251,379
|
396,239,420
|
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||||
|
|
||||
|
Description |
FY2010 |
FY2009 |
FY2008 |
Average Industry |
|
Current liquidity ratio |
1.14 |
1.36 |
1.23 |
1.47 |
|
Quick liquidity ratio |
0.82 |
0.95 |
0.59 |
0.70 |
|
Inventory circle |
5.79 |
6.39 |
1.98 |
8.31 |
|
Average receive period |
147.38 |
111.37 |
131.82 |
28.57 |
|
Utilizing asset performance |
1.35 |
1.66 |
0.91 |
2.64 |
|
Liability by total assets |
70.58 |
63.73 |
71.16 |
58.07 |
|
Liability by owner's equity |
239.87 |
175.68 |
246.77 |
182.19 |
|
Ebit / Total assets (ROA) |
3.48 |
3.55 |
2.98 |
10.02 |
|
Ebit / Owner's equity (ROE) |
11.82 |
9.78 |
10.32 |
25.93 |
|
Ebit / Total sale (NPM) |
2.57 |
2.14 |
3.28 |
3.82 |
|
Gross profit / Total sale (GPM) |
5.33 |
4.22 |
6.31 |
8.54 |
|
Note: The Average Industry was calculated by VietnamCredit
based on our own statistical data |
||||
PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
Trade Morality |
|
Fair |
|
Liquidity |
|
Medium |
|
Payment status |
|
Average |
|
Financial Situation |
|
Above Average |
|
Development trend |
|
Positive |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
L/C, T/T, D/P |
|
Sale Methods |
|
Wholesaler |
|
Public opinion |
|
Good |
INTERPRETATION ON THE SCORES
|
The
subject was originally established in 21 Jan 2002 as a limited liability
company following the former business registration No. 0102004382 issued by
Ha Noi Department of Planning and Investment. The former name of the subject was
"Quang Minh Technologycal Development and Investment Company
Limited". In May 2010, the subject was changed its legal form in to
Joint Stock Company and its name also changed to "Quang Minh Corporation
Joint Stock Company". Currently, the subject is operating under the
business registration No. 0101205275 which is the same with the company's tax
code. Its registered capital now is VND 989 billion. Quang Minh Corporation
Joint Stock Company now has about 1,000 employees in total. The
company’s head office is located at Room 01 & 02, M Floor, Sofitel Plaza
Ha Noi Hotel, No. 1, Thanh Nien Street, Truc Bach Ward, Ba Dinh District, Ha
Noi City, Viet Nam. Besides, it has two branches in Quang Ninh Province and
Dong Nai province. It also has two subsidiaries, too. When
be established in 2002, the subject focused on manufacturing animal and
poultry feed. After nearly ten years of operation and development, the
subject now becomes an agricultural corporation in Viet Nam. Currently, the
subject is not only manufacturing animal and poultry feed but also
manufacturing and processing foods and trading agricultural products.
Currently, the subject produces cooking oil with brand name: Oilla, Mr Bean
and Soon Soon. On
the financial hand, the subject’s financial situation is quite good.
According to the financial statement, its total asset has increased sharply
in recent years. In 2010, the company’s total asset reached to VND 1,246.2
billion VND, an increase of 153.8% in comparison with 2009. The company is
expanding its business scale. The figure above also shows that, the company’s
total asset was mainly financed by liability. In 2010, liability by total
asset was 70.58% while the average industry was 58.07%. But in 2010, the
company has two times increase its capital and now the subject’s capital is
VND 989 billion. It is expected to expand the subject’s business scale and
improve its capital structure. In the year of 2010, the subject showed a
fantastic number of total sales. In 2010, the company’s total sale was VND 1,683.4
billion, 2 times higher than the previous year. But in recent years, net
operating profit is a negative number. The reason is the high cost of goods
sold and operating expense. Although its profit after tax is a positive
number, its profit comes from other activities. The subject needs to manage
expenses better to improve its profit. In
general, the subject has capacity to meet small and medium 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.53.21 |
|
UK Pound |
1 |
Rs.83.32 |
|
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.