MIRA INFORM REPORT

 

 

Report Date :

05.01.2011

 

IDENTIFICATION DETAILS

 

Name :

MANDA COMPANY LIMITED

 

 

Registered Office :

No. 14 Street No. 9, Binh Thoi Quarter, Ward 8 - 11 District - Ho Chi Minh City

 

 

Country :

Viet Nam

 

 

Financials (as on) :

31.12.2008

 

 

Year of Establishment :

2000

 

 

Com. Reg. No.:

0302017151

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Specializing manufacturing footwear, garment and trading machine.

 

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 – June 30, 2010

 

Country Name

Previous Rating

(01.04.2010)

Current Rating

(30.06.2010)

Viet Nam

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

 

MANDA COMPANY LIMITED

Vietnamese Name

 

CONG TY TNHH MAN DAT

Trade name

 

MANDA COMPANY LIMITED

Short name

 

MANDA CO., LTD

Type of Business

 

Limited liability company

Year Established

 

2000

Business Registration No.

 

0302017151

Date of Registration

 

18 Aug 2010

Place of Registration

 

Planning and Investment Department of Hochiminh City

Current registered capital

 

900,000,000 VND

Status

 

Unlisted

Tax code

 

0302017151

Total Employees

 

92

 

 

ADDRESSES

 

Head Office

Address

 

No. 14 Street No. 9, Binh Thoi Quarter, Ward 8 - 11 District - Ho Chi Minh City - Vietnam

Telephone

 

(84-8) 3962 6441

Fax

 

(84-8) 3962 7374

Email

 

mandaco@vnn.vn

Website

 

www.mandatco.com

 

Branch in Ho Chi Minh

Address

 

445/67/3 Tan Hoa Dong Street, Binh Tri Dong Ward - Binh Tan District - Ho Chi Minh City - Vietnam

 

 

 

 

 

DIRECTORS

 

1 . NAME

 

Ms. DUONG THI MINH HIEN

Position

 

Director

ID Number/Passport

 

022648110

Resident

 

161D/106/27F Lac Long Quan Street, Ward 3 - 11 District - Ho Chi Minh City - Vietnam

Nationality

 

Vietnamese

 

2 . NAME

 

Mr. LUU VAN HUNG

Position

 

Deputy Director

ID Number/Passport

 

023080728

Resident

 

241/7 Nguyen Van Luong, Ward 17 - Go Vap District - Ho Chi Minh City - Vietnam

Nationality

 

Vietnamese

 

 

BUSINESS NATURE AND ACTIVITIES

 

The subject is specializing manufacturing footwear, garment and trading machine.

 

 

IMPORT & EXPORT ACTIVITIES

 

IMPORT:

Types of products

 

materials

Market

 

China, Japan, India, USA, Korea...

 

EXPORT:

Types of products

 

Products

Market

 

Korea, Japan, Australia, New Zealand...

 

 

 

 

BANKERS

 

ASIA COMMERCIAL JOINT STOCK BANK

Address

 

444 Nguyen Thi Minh Khai - 3 District - Ho Chi Minh City - Vietnam

Telephone

 

(84-8) 3832 8988

Fax

 

(84-8) 3832 8987

 

 

SHAREHOLDERS

 

1 . NAME

 

Ms. DUONG THI MINH HIEN

Position

 

Director

ID Number/Passport

 

022648110

Resident

 

161D/106/27F Lac Long Quan Street, Ward 3 - 11 District - Ho Chi Minh City - Vietnam

Nationality

 

Vietnamese

Value of shares

 

800,000,000 VND

Percentage

 

88.89%

 

2 . NAME

 

Mr. LUU VAN HUNG

Position

 

Deputy Director

ID Number/Passport

 

023080728

Resident

 

241/7 Nguyen Van Luong, Ward 17 - Go Vap District - Ho Chi Minh City - Vietnam

Nationality

 

Vietnamese

Value of shares

 

100,000,000 VND

Percentage

 

11.11%

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL HIGHLIGHT

 

Revenue in 2010

 

10,500,000,000 VND

Revenue in 2009

 

5,683,000,000 VND

BALANCE SHEET

Unit: One VND

Balance sheet date

31/12/2008

31/12/2007

Number of weeks

52

52

ASSETS

A. Current Asset

2,849

3,827

Receivables

54

382

Inventory

347

437

Cash and other current assets

2,448

3,008

B. Long term Asset

488

411

1. Long term account receivable

0

 

2. Fixed assets

488

410

Tangible fixed assets

488

410

+ Original cost

924

685

+ Accumulated depreciation value

436

275

Financial leasehold assets

0

0

Intangible fixed assets

0

0

Construction in progress and other long term asset

0

0

TOTAL ASSETS

3,337

4,238

 

LIABILITIES

Payable loans

2,424

3,307

Owner’s Equity

913

931

TOTAL LIABILITY AND EQUITY

3,337

4,238

 

PROFIT & LOSS STATEMENT

 

Total revenue

6,129

4,096

Deductions Items

0

3

1. Net revenue

6,129

4,093

2. Cost of goods sold and operation expense

5,938

4,045

3. Net income from business activities

191

48

Income from financial activities

21

0

Expenditure from financial activities

354

0

4. Net income from financial operation

-333

0

Irregular income

67

0

Irregular expenditure

0

0

5. Irregular Profit

67

0

6. Total pre-tax profit

-75

48

 

 

 

PAYMENT HISTORY & PERFORMANCE EXPERIENCES

 

Trade Morality

 

Normal

Liquidity

 

N/A

Payment status

 

N/A

Financial Situation

 

Normal

Development trend

 

Even

Litigation data

 

No

Bankruptcy

 

No

Payment Methods

 

L/C, TT

Sale Methods

 

Wholesaler

Public opinion

 

N/A

 

 

 

INTERPRETATION ON THE SCORES

 

The subject is a liability limited company which was established in 2000. At present, the subject operates under the business registration No. 0302017151 and the registered capital is 900,000,000 VND.

The subject is specializing in manufacturing footwear and trading presses machine, spraying machine of FOMTEC. It imports leather material for production mainly from India and imports machine from Korea and USA. The subject processing shoes for many companies from Japan, USA, and European countries.

The premise and facility of the subject is relative. Its head office located at No. 14 Street No. 9, Binh Thoi Quarter, Ward 8 - 11 District - Ho Chi Minh City. In addition, the subject also has a factory in Binh Tan Dist – Hochiminh City.

The operation of the subject is normal. It manufactures in small scale with 92 employees, Its annual output is around 150,000 products. The subject has a long time business in this industry; however, the market share of it is small and the revenue is still poor. According to the financial highlight, the subject’s annual revenue is around VND 6 billion. In 2010, the business result seem better with revenue was over VND 10 billion. In our opinion, the subject only has capacity to meet small transactions.

Credit Inquiry: 125,000 USD

Please caution needed with close term for this credit inquiry.

 

 

------------ 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.44.84

UK Pound

1

Rs.69.32

Euro

1

Rs.59.79

 

 

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.