MIRA INFORM REPORT
|
Report Date : |
23.02.2011 |
IDENTIFICATION DETAILS
|
Name : |
TAN QUI TRADING PRIVATE ENTERPRISE |
|
|
|
|
Registered Office : |
365 Tran Xuan Soan Str, Tan Kieng Ward - 7 District - |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2008 |
|
|
|
|
Year of Establishment : |
1994 |
|
|
|
|
Com. Reg. No.: |
0301433744 |
|
|
|
|
Legal Form : |
Private Enterprise |
|
|
|
|
Line of Business : |
trading in chemical fertilizer, botanical
protectant |
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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
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 |
|
TAN QUI TRADING PRIVATE ENTERPRISE |
|
Vietnamese Name |
|
DOANH NGHIEP TU NHAN THUONG MAI TAN QUI |
|
Short name |
|
TAN QUI TRADING PTE ENT |
|
Type of Business |
|
Private enterprise |
|
Year Established |
|
1994 |
|
Establishment Decision |
|
956/GP- UB |
|
Date of Issuance |
|
30 Jun 1994 |
|
Place of Issuance |
|
People’s Committee of Hochiminh City |
|
Business Registration No. |
|
0301433744 |
|
Date of Registration |
|
09 Aug 1994 (according to Business registration
office of Hochiminh city) |
|
Place of Registration |
|
Business registration office of Hochiminh
city |
|
Current registered capital |
|
7,000,000,000 VND |
|
Tax code |
|
0301433744 |
|
Total Employees |
|
15 |
|
Note: The given name (TAN QUY TRADING PRIVATE ENTERPRISE) is
not correct. The correct is above. |
||
Historical Identification & Legal form
|
List |
Changed Items |
|
1 |
Subject
has got former Address: 15/3A, Tran Xuan Soan Str, Tan Kieng Ward, Dist 7,
Hochiminh city Changed to: 365 Tran Xuan Soan Str, Tan Kieng Ward, Dist 7,
Hochiminh city |
company ADDRESSES
|
Head Office |
||
|
Address |
|
365 Tran Xuan Soan Str, Tan Kieng Ward - 7
District - |
|
Telephone |
|
(84-8) 3872 9995 / 3872 4380 |
|
Fax |
|
(84-8) 3872 6584 |
|
Email |
|
|
|
|
||
|
Factory Address |
||
|
Address |
|
371 Tran Xuan Soan, Tan Kieng Ward - 7
District - |
|
Business Registration |
|
4111034837 |
|
Issuance on |
|
August, 09th, 2008 |
|
Issuance by |
|
Business registration office of Hochiminh city |
|
Country |
|
|
DIRECTORS
|
1
. NAME |
|
Ms.
NGUYEN THI LAN |
|
Position |
|
Director |
|
ID No. |
|
020082010 |
|
Qualification |
|
Management |
|
Resident |
|
23 Bis Le Quy Don Str,
Ward 6 - 3 District - Ho Chi Minh City - Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
2
. NAME |
|
Ms.
NGUYEN THI |
|
Position |
|
Chief Accountant |
|
Nationality |
|
Vietnamese |
BUSINESS NATURE AND ACTIVITIES
|
The
subject specializes in trading in chemical fertilizer, botanical protectant
with products’ names: Bordocop super 25 Wp, Bordocop super 25 Wp, Cocman 69
Wp, Ok – Sulfolac 80 Df, Hidrocop 77 Wp, Coc 85 Wp, Super Mastercop 21 |
IMPORT & EXPORT ACTIVITIES
|
IMPORT: |
||
|
Types of products |
|
Goods |
|
Market |
|
|
|
|
||
|
EXPORT: |
||
|
Types of products |
|
N/A |
BANKERS
|
1.
ORIENT COMMERCIAL JOINT STOCK BANK |
||
|
Address |
|
No. 45 Le Duan - Ben Nghe ward - 1 District - |
|
Telephone |
|
(84-8) 3943 5001/ 3943 5002 |
|
Fax |
|
(84-8) 3822 0963/ 3943 5066 |
|
|
||
|
2.
VIETNAM BANK FOR AGRICULTURE AND RURAL DEVELOPMENT |
||
|
Address |
|
|
|
Telephone |
|
(84-8) 822 2752/ 829 5434 |
|
Fax |
|
(84-8) 829 4063 |
SHAREHOLDERS
|
NAME |
|
Ms.
NGUYEN THI LAN |
|
Position |
|
Director |
|
Resident |
|
23 Bis Le Quy Don Str, Ward 6 - 3 District
- |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
7,000,000,000 VND |
|
Percentage |
|
100% |
FINANCIAL DATA
|
BALANCE
SHEET |
|||
Unit: One VND
|
|||
|
Balance sheet
date |
31/12/2008 |
31/12/2007 |
31/12/2006 |
|
Number of weeks |
52 |
52 |
52 |
|
ASSETS |
|||
|
A – CURRENT
ASSETS |
17,097,000,000 |
14,426,000,000 |
17,819,636,695 |
|
I. Cash and cash
equivalents |
184,000,000 |
154,000,000 |
576,518,545 |
|
1. Cash |
184,000,000 |
154,000,000 |
576,518,545 |
|
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 |
1,383,000,000 |
3,934,000,000 |
4,626,234,771 |
|
1. Receivable from customers |
1,246,000,000 |
2,474,000,000 |
3,040,255,486 |
|
2. Prepayments to suppliers |
137,000,000 |
1,447,000,000 |
1,575,663,285 |
|
3. Inter-company receivable |
0 |
0 |
0 |
|
4. Receivable according to the progress of construction |
0 |
0 |
0 |
|
5. Other receivable |
0 |
13,000,000 |
10,316,000 |
|
6. Provisions for bad debts |
0 |
0 |
0 |
|
IV. Inventories |
15,001,000,000 |
10,268,000,000 |
12,441,200,439 |
|
1. Inventories |
15,001,000,000 |
10,268,000,000 |
12,441,200,439 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
0 |
|
V. Other Current
Assets |
529,000,000 |
70,000,000 |
175,682,940 |
|
1. Short-term prepaid expenses |
0 |
6,000,000 |
0 |
|
2. VAT to be deducted |
0 |
70,000,000 |
133,843,740 |
|
3. Taxes and other accounts receivable from the State |
529,000,000 |
0 |
41,839,200 |
|
4. Other current assets |
0 |
-6,000,000 |
0 |
|
B. LONG-TERM
ASSETS |
8,364,000,000 |
5,242,000,000 |
5,913,943,524 |
|
I. Long term
account receivable |
|
|
0 |
|
1. Long term account receivable from customers |
|
|
0 |
|
2. Working capital in affiliates |
|
|
0 |
|
3. Long-term inter-company receivable |
|
|
0 |
|
4. Other long-term receivable |
|
|
0 |
|
5. Provisions for bad debts from customers |
|
|
0 |
|
II. Fixed assets
|
8,347,000,000 |
5,216,000,000 |
5,821,252,767 |
|
1. Tangible assets |
4,761,000,000 |
4,863,000,000 |
5,380,452,899 |
|
- Historical costs |
8,744,000,000 |
8,111,000,000 |
8,214,082,337 |
|
- Accumulated depreciation |
-3,983,000,000 |
-3,248,000,000 |
-2,833,629,438 |
|
2. Financial leasehold assets |
0 |
353,000,000 |
440,799,868 |
|
- Historical costs |
0 |
529,000,000 |
528,959,836 |
|
- Accumulated depreciation |
0 |
-176,000,000 |
-88,159,968 |
|
3. Intangible assets |
0 |
0 |
0 |
|
- Initial costs |
0 |
0 |
0 |
|
- Accumulated amortization |
0 |
0 |
0 |
|
4. Construction-in-progress |
3,586,000,000 |
0 |
0 |
|
III. Investment
property |
0 |
0 |
0 |
|
Historical costs |
0 |
0 |
0 |
|
Accumulated depreciation |
0 |
0 |
0 |
|
IV. Long-term
investments |
0 |
0 |
92,690,757 |
|
1. Investments in affiliates |
0 |
0 |
92,690,757 |
|
2. Investments in business concerns and joint ventures |
0 |
0 |
0 |
|
3. Other long-term investments |
0 |
0 |
0 |
|
4. Provisions for devaluation of long-term investments |
0 |
0 |
|
|
VI. Other
long-term assets |
17,000,000 |
26,000,000 |
|
|
1. Long-term prepaid expenses |
17,000,000 |
26,000,000 |
0 |
|
2. Deferred income tax assets |
0 |
0 |
0 |
|
3. Other long-term assets |
0 |
0 |
0 |
|
TOTAL ASSETS |
25,461,000,000 |
19,668,000,000 |
23,733,580,219 |
|
|
|||
|
LIABILITIES |
|||
|
A- LIABILITIES |
18,348,000,000 |
13,259,000,000 |
18,255,651,315 |
|
I. Current
liabilities |
16,748,000,000 |
11,292,000,000 |
12,755,651,315 |
|
1. Short-term debts and loans |
11,463,000,000 |
7,686,000,000 |
8,769,725,322 |
|
2. Payable to suppliers |
5,276,000,000 |
3,244,000,000 |
3,652,439,568 |
|
3. Advances from customers |
0 |
0 |
424,403,451 |
|
4. Taxes and other obligations to the State Budget |
0 |
93,000,000 |
-98,048,026 |
|
5. Payable to employees |
0 |
0 |
0 |
|
6. Accrued expenses |
0 |
0 |
0 |
|
7. Inter-company payable |
0 |
250,000,000 |
0 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
7,131,000 |
|
9. Other payable |
9,000,000 |
19,000,000 |
0 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
|
|
II. Long-Term
Liabilities |
1,600,000,000 |
1,967,000,000 |
5,500,000,000 |
|
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 |
1,600,000,000 |
1,967,000,000 |
5,500,000,000 |
|
5. Deferred income tax payable |
0 |
0 |
0 |
|
6. Provisions for unemployment allowances |
0 |
0 |
|
|
7. Provisions for long-term accounts payable |
0 |
0 |
|
|
B- OWNER’S
EQUITY |
7,113,000,000 |
6,409,000,000 |
5,477,928,904 |
|
I. OWNER’S
EQUITY |
7,113,000,000 |
6,409,000,000 |
5,477,928,904 |
|
1. Capital |
7,000,000,000 |
7,129,000,000 |
7,129,282,426 |
|
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 |
|
|
9. Other funds |
0 |
0 |
|
|
10. Retained earnings |
113,000,000 |
1,280,000,000 |
348,646,478 |
|
11. Construction investment fund |
0 |
-2,000,000,000 |
-2,000,000,000 |
|
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 |
25,461,000,000 |
19,668,000,000 |
23,733,580,219 |
|
PROFIT
& LOSS STATEMENT |
|||
|
Description |
FY2008 |
FY2007 |
FY2006 |
|
1. Total |
31,425,000,000 |
38,028,000,000 |
41,714,581,510 |
|
2. Deduction item |
0 |
0 |
0 |
|
3. Net sale |
31,425,000,000 |
38,028,000,000 |
41,714,581,510 |
|
4. Costs of goods sold |
23,825,000,000 |
29,698,000,000 |
32,491,918,599 |
|
5. Gross profit |
7,600,000,000 |
8,330,000,000 |
9,222,662,911 |
|
6. Financial income |
218,000,000 |
0 |
0 |
|
7. Financial expenses |
1,984,000,000 |
1,505,000,000 |
0 |
|
- In which: Loan interest expenses |
1,615,000,000 |
1,505,000,000 |
0 |
|
8. Selling expenses |
3,248,000,000 |
3,540,000,000 |
4,693,906,484 |
|
9. Administrative overheads |
1,593,000,000 |
1,905,000,000 |
3,544,642,520 |
|
10. Net operating profit |
993,000,000 |
1,380,000,000 |
984,113,907 |
|
11. Other income |
0 |
25,000,000 |
584,455,443 |
|
12. Other expenses |
0 |
20,000,000 |
563,474,588 |
|
13. Other profit /(loss) |
0 |
5,000,000 |
20,980,855 |
|
14. Total accounting profit before tax |
993,000,000 |
1,385,000,000 |
1,005,094,762 |
|
15. Current corporate income tax |
0 |
388,000,000 |
281,426,533 |
|
16. Deferred corporate income tax |
|
|
0 |
|
17. Profit after tax |
993,000,000 |
997,000,000 |
723,668,229 |
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS
Description FY2008
FY2007 FY2006 Average
Industry
Current liquidity ratio
1.02 1.28 1.40 1.56
Quick liquidity
ratio 0.13
0.37 0.42 0.78
Inventory circle 1.89 2.89 2.61 8.01
Average receive
period 16.06
37.76 40.48 55.54
Utilizing asset
performance 1.23 1.93 1.76 3.44
Liability by total
asset 72.06
67.41 76.92 71.56
Liability by owner
equity 257.95
206.88 333.26 372.69
Ebit / Total asset
(ROA) 10.24 14.69 4.23 8.13
Ebit / Owner's
equity (ROE) 36.67
45.09 18.35 26.54
Ebit / Total sale
(NPM) 8.30 7.60 2.41 3.02
Gross profit / Total
sale (GPM) 24.18 21.90 22.11 11.93
Note: The Average Industry was calculated by
PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
Trade Morality |
|
|
|
Liquidity |
|
Medium |
|
Payment status |
|
Average |
|
Financial Situation |
|
Average |
|
Development trend |
|
Even |
|
Litigation data |
|
No |
|
Bankruptcy |
|
No |
|
Payment Methods |
|
L/C, T/T |
|
|
|
Retailer and Wholesaler |
|
Public opinion |
|
N/A |
|
CREDIT INQUIRY: 125,000 Against DA in temrs |
|
Reliable! |
INTERPRETATION ON THE SCORES
|
Tan Qui Trading Private
Enterprise was established in 1994 according to Establishment Decision No. 956/GP-
UB. It was issued new business registration No. 021716 with registered
capital is 7,000,000,000 VND. Originally, the subject
focused on trading in fungicide, fertilizer and botanical protectant. Now, it
has a factory to package fertilizer and botanical protectant. The subject imports goods
from foreign markets such as The subject has 16 years
of operation so it has gained a large amount of traditional customers. Main
market of the subject is in Hochiminh city and Southern provinces. The premises and
facilities of the subject are average. At this time, the subject is operating
in small scale with total 15 employees. The owner is an experience woman and
she has created good relationship with customers and suppliers. In general, the subject’s
premises and facilities are avearage. Its business activities are fairly busy
now. It has operated normally since establishment. Currently, financial
situation of the subject is average. The subject has capacity to meet all
small financial commitments. |
APPENDIXES
|
INDUSTRY DATA |
||||||
|
|
||||||
|
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 |
|
|
|
||||||
|
ECONOMIC
INDICATORS |
||||||
|
|
||||||
|
|
2009 |
2008 |
2007 |
|||
|
Population (Million person) |
87 |
86.1 |
85.1 |
|||
|
Gross Domestic Products (US$
billion) |
91 |
84.9 |
71.2 |
|||
|
GDP Growth (%) |
5.32 |
6.2 |
8.5 |
|||
|
GDP Per Capita (US$) |
1,080 |
1,040 |
814 |
|||
|
Inflation (% Change in
Composite CPI) |
6.88 |
24.4 |
8.3 |
|||
|
|
||||||
|
SERVICE TRADE
PERFORMANCE |
||||||
|
|
||||||
|
Billion USD |
2009 |
2008 |
2007 |
|||
|
Exports |
56.6 |
62.9 |
48.6 |
|||
|
Imports |
68.8 |
76.6 |
58.9 |
|||
|
Trade Balance |
-12.2 |
-14.6 |
-10.3 |
|||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.20 |
|
|
1 |
Rs.73.07 |
|
Euro |
1 |
Rs.61.41 |
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 |
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.