MIRA INFORM REPORT
|
Report Date : |
29.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
LIKSIN INDUSTRY - PRINTING - PACKING
CORPORATION |
|
|
|
|
Registered Office : |
No. 159 Kinh Duong
Vuong Street - Ward 12 - District 6- Ho Chi Minh City |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Year of Establishment : |
1978 |
|
|
|
|
Com. Reg. No.: |
0301441600 |
|
|
|
|
Legal Form : |
State Single Limited Liability Company |
|
|
|
|
Line of Business : |
Producing and supply of printing
products, flexible packaging, paper packaging and high grade labels |
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
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 |
|
LIKSIN INDUSTRY - PRINTING - PACKING CORPORATION |
|
Registered Vietnamese Name |
|
TONG CONG TY CONG NGHIEP - IN BAO BI LIKSIN - TNHH MOT THANH VIEN |
|
Trade name |
|
LIKSIN
CORPORATION |
|
Another name |
|
LIKSIN INDUSTRY - PRINTING - PACKAGING CORPORATION |
|
Registered Short name |
|
TONG
CONG TY LIKSIN |
|
Type of Business |
|
State single limited liability company |
|
Year Established |
|
1978 |
|
Establishment Decision |
|
278/QD-UB |
|
Date of Issuance |
|
16 Jun 2006 |
|
Place of Issuance |
|
People Committee of Hochiminh City |
|
Business Registration No. |
|
0301441600 |
|
Date of Registration |
|
07 Sep 2010 |
|
Place of Registration |
|
Business Registration of Hochiminh City |
|
Current registered capital |
|
747,770,000,000 VND |
|
Tax code |
|
0301441600 |
|
Total Employees |
|
1,040 |
|
Size |
|
Large |
Historical Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Registered capital: 659,470,000,000 VND
Changed to: 747,770,000,000 VND |
07 Sep 2010 |
|
2 |
Subject has got former Registered Vietnamese Name: TONG CONG TY CONG
NGHIEP - IN - BAO BI LIKSIN Changed to: TONG CONG TY CONG NGHIEP - IN - BAO BI LIKSIN - TNHH MOT
THANH VIEN |
07 Sep 2010 |
|
3 |
Subject has got former Business Registration No: 4106000313 Changed to: 0301441600 |
07 Sep 2010 |
company ADDRESSES
|
Head Office |
||
|
Address |
|
No. 159 Kinh Duong Vuong Street - Ward 12 - District 6- Ho Chi Minh
City - Vietnam |
|
Telephone |
|
(84-8) 3751 2562 – 3751 2564 – 3751 2565 |
|
Fax |
|
(84-8) 3751 2561 |
|
Email |
|
|
|
Website |
|
|
|
Notes: Name of old address: 701 Kinh Duong Vuong
Street - Ward 12 - District 6 - Hochiminh City - Vietnam. |
||
|
|
||
|
Factory Address |
||
|
Address |
|
No.92 An Duong Vuong Street - - Binh Tan District - Ho Chi Minh City
- Vietnam |
|
Telephone |
|
(84-8) 38756097 |
|
Fax |
|
(84-8) 38776290 |
|
Email |
|
|
|
Notes: Liksin Packaging Factory |
||
|
|
||
|
Factory Address |
||
|
Address |
|
No.92 An Duong Vuong Street - Binh Tan District - Ho Chi Minh City -
Vietnam |
|
Notes: An Khang Liksin Packaging Factory |
||
|
|
||
|
Representative office in Ha Noi |
||
|
Address |
|
No. 21, Lo Duc Street - Hai Ba Trung District - Ha Noi City - Vietnam
|
|
Telephone |
|
(84-4) 3972 1807 |
|
Fax |
|
(84-4) 3821 1120 |
|
Email |
|
|
SUBSIDIARIES AND RELATED COMPANIES
|
1. SUBSIDIARIES - LIKSIN PACKAGING
ENTERPRISE |
||
|
Address |
|
No. 92 An
Duong Vuong Street - Binh Tan District - Ho Chi Minh City - Vietnam |
|
Tel |
|
(84-8) 3875 6097
– 3875 3295 – 3877 6289 |
|
Fax |
|
(84-8) 3877
6290 |
|
|
||
|
2. SUBSIDIARIES - LIKSIN PAPER PACKAGING
PRINTING ENTERPRISE |
||
|
Address |
|
No. 159, Kinh
Duong Vuong Street - District 6 - Ho Chi Minh City - Vietnam |
|
Tel |
|
(84-8) 3875 6972
- 3876 1106 - 3751 2562 |
|
Fax |
|
(84-8)
38759529 |
|
|
||
|
3. SUBSIDIARIES - LIKSIN NORTHERN PACKAGING
FACTORY |
||
|
Address |
|
Tien Son
Industrial Zone - Bac Ninh City - Bac Ninh Province - Vietnam |
|
Tel |
|
(84-241) 3710
433 - 3710 434 |
|
Fax |
|
(84-281)
3710432 |
|
|
||
|
4. SUBSIDIARIES - AN LAC LABEL PRINTING
JOINT-STOCK COMPANY |
||
|
Address |
|
No. 187/4,
Kinh Duong Vuong Street - District 6 - Ho Chi Minh City - Vietnam |
|
Tel |
|
(84-8) 3750
9914 |
|
Fax |
|
(84-8) 3751
6181 |
|
|
||
|
5. SUBSIDIARIES - CONG TY TNHH PHAT TAI |
||
|
Address |
|
No. 80/8C,
National Road 1, An Lac Town - Binh Tan District - Ho Chi Minh City - Vietnam
|
|
Tel |
|
(84-8) 3875
9535 - 3875 3142 |
|
|
||
|
6. SUBSIDIARIES - DONG NAM VIET PACKAGING CO.,
LTD |
||
|
Business
Registration |
|
4600200867 |
|
Date of
Registration |
|
21 Aug 2008 |
|
Place of
Registration |
|
Planning &
Investment Department of Hochiminh City |
|
Registered
Capital |
|
43,250,000,000 VND |
|
Tax code |
|
3700538504 |
|
Address |
|
Lot K2- My
Phuoc Industry Zone - Ben Cat District - Binh Duong Province - Vietnam |
|
Tel |
|
(84-650)
3558067 |
|
Fax |
|
(84-650)
3558068 |
|
Website |
|
|
|
|
||
|
7. SUBSIDIARIES - SAIGON INK JOINT STOCK
COMPANY-SAIGONMIC |
||
|
Address |
|
No. 784, Hong
Bang Street - District 11- Ho Chi Minh City - Vietnam |
|
Tel |
|
(84-8) 3855
0283 |
|
Fax |
|
(84-8) 3963
0045 |
|
|
||
|
8. SUBSIDIARIES - AN THINH LIKSIN TRADING
CO., LTD |
||
|
Address |
|
No. 66, Ton
That Tung Street - District 1- Ho Chi Minh City - Vietnam |
|
Tel |
|
(84-8) 3925
5186 - 3925 7068 |
|
Fax |
|
(84-8) 3925
6255 |
DIRECTORS
|
1. NAME |
|
Mr. NGUYEN NGOC SANG |
|
Position |
|
Chairman |
|
Nationality |
|
Vietnamese |
|
|
||
|
2. NAME |
|
Mr. LE DANG QUANG |
|
Position |
|
General Director |
|
Date of Birth |
|
20 Oct 1956 |
|
ID Number/Passport |
|
022376334 |
|
ID Issue Date |
|
05 Apr 1995 |
|
ID Issue Place |
|
Police in Hochiminh City |
|
Resident |
|
No. 56/15 Cach Mang Thang Tam Street Tay Thanh
Ward - Tan Phu District - Ho Chi Minh City - Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
3. NAME |
|
Mr. NGO VAN HOA |
|
Position |
|
Deputy General Director |
|
Nationality |
|
Vietnamese |
|
|
||
|
4. NAME |
|
Mr. PHAN ANH VIET |
|
Position |
|
Finance Director |
|
Nationality |
|
Vietnamese |
BUSINESS NATURE AND ACTIVITIES
|
•
Producing and supply of printing products, flexible packaging, paper
packaging and high grade labels |
IMPORT & EXPORT ACTIVITIES
|
IMPORT: |
||
|
·
Market
|
|
Japan, South
Korea and Thailand |
|
|
||
|
EXPORT: |
||
|
·
Market
|
|
Australia and
USA |
BANKERS
|
1. JOINT STOCK COMMERCIAL
BANK FOR FOREIGN TRADE OF VIETNAM BINH TAY BRANCH |
||
|
Address |
|
No.129-129A
Hau Giang, No5 ward - District 6 - Ho Chi Minh City - Vietnam |
|
Telephone |
|
(84-8)
39600478 |
|
Fax |
|
(84-8)
39606217 |
|
|
||
|
2. BANK FOR INVESTMENT AND
DEVELOPMENT OF VIETNAM TRANSACTION NO.2 |
||
|
Address |
|
No.11 Ben
Chuong Duong ,Nguyen Thai Binh ward - District 1 - Ho Chi Minh City - Vietnam
|
|
Telephone |
|
(08) 3.8214929
|
|
|
||
|
3. VIET NAM JOINT STOCK COMMERCIAL
BANK FOR INDUSTRY AND TRADE NO.6 BRANCH |
||
|
Address |
|
No.78 Thap
Muoi - District 6 - Ho Chi Minh City - Vietnam |
|
Telephone |
|
(84-8)
38572934 |
|
|
||
|
4. DONG A COMMERCIAL JOINT
STOCK BANK |
||
|
Address |
|
No.130 Phan Dang
Luu Street, Ward 3 - Phu Nhuan District - Ho Chi Minh City - Vietnam |
|
Telephone |
|
(84-8) 3995
1483 |
|
Fax |
|
(84-8) 3995
1614 |
SHAREHOLDERS
|
|
||
|
NAME |
|
PEOPLE'S COMMITTEE OF HO CHI
MINH CITY |
|
Address |
|
86 Le Thanh Ton Str, - District 1 - Ho Chi Minh City - Vietnam |
|
Tel |
|
(84-8) 38226191 |
|
Fax |
|
(84-8) 38296116 |
|
Value of
shares |
|
747,770,000,000 VND |
|
Percentage |
|
100% |
FINANCIAL DATA
|
BALANCE SHEET |
|
Unit: One VND
|
|
|
Balance sheet date |
31/12/2010 |
|
Number of weeks |
52 |
|
ASSETS |
|
|
A – CURRENT ASSETS |
482,737,000,000 |
|
I. Cash and cash equivalents |
53,086,000,000 |
|
1. Cash |
53,086,000,000 |
|
2. Cash
equivalents |
0 |
|
II. Short-term investments |
90,000,000,000 |
|
1. Short-term
investments |
90,000,000,000 |
|
2. Provisions
for devaluation of short-term investments |
0 |
|
III. Accounts receivable |
184,764,000,000 |
|
1. Receivable
from customers |
136,087,000,000 |
|
2. Prepayments
to suppliers |
23,228,000,000 |
|
3.
Inter-company receivable |
0 |
|
4. Receivable
according to the progress of construction |
0 |
|
5. Other
receivable |
27,907,000,000 |
|
6. Provisions
for bad debts |
-2,458,000,000 |
|
IV. Inventories |
141,828,000,000 |
|
1. Inventories
|
144,466,000,000 |
|
2. Provisions
for devaluation of inventories |
-2,638,000,000 |
|
V. Other Current Assets |
13,059,000,000 |
|
1. Short-term
prepaid expenses |
158,000,000 |
|
2. VAT to be
deducted |
1,499,000,000 |
|
3. Taxes and
other accounts receivable from the State |
7,877,000,000 |
|
4. Other
current assets |
3,525,000,000 |
|
B. LONG-TERM ASSETS |
1,065,415,000,000 |
|
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 |
318,040,000,000 |
|
1. Tangible
assets |
134,107,000,000 |
|
- Historical
costs |
443,405,000,000 |
|
- Accumulated
depreciation |
-309,298,000,000 |
|
2. Financial
leasehold assets |
0 |
|
- Historical
costs |
0 |
|
- Accumulated
depreciation |
0 |
|
3. Intangible
assets |
43,013,000,000 |
|
- Initial
costs |
45,880,000,000 |
|
- Accumulated
amortization |
-2,867,000,000 |
|
4.
Construction-in-progress |
140,920,000,000 |
|
III. Investment property |
275,800,000,000 |
|
Historical
costs |
276,516,000,000 |
|
Accumulated
depreciation |
-716,000,000 |
|
IV. Long-term investments |
375,883,000,000 |
|
1. Investments
in affiliates |
166,608,000,000 |
|
2. Investments
in business concerns and joint ventures |
126,631,000,000 |
|
3. Other long-term
investments |
108,242,000,000 |
|
4. Provisions
for devaluation of long-term investments |
-25,598,000,000 |
|
V. Other long-term assets |
95,692,000,000 |
|
1. Long-term
prepaid expenses |
95,636,000,000 |
|
2. Deferred
income tax assets |
0 |
|
3. Other
long-term assets |
56,000,000 |
|
VI. Goodwill |
|
|
1. Goodwill |
|
|
TOTAL ASSETS |
1,548,152,000,000 |
|
|
|
|
LIABILITIES |
|
|
A- LIABILITIES |
613,666,000,000 |
|
I. Current liabilities |
327,771,000,000 |
|
1. Short-term debts
and loans |
158,701,000,000 |
|
2. Payable to
suppliers |
44,478,000,000 |
|
3. Advances
from customers |
98,265,000,000 |
|
4. Taxes and
other obligations to the State Budget |
7,198,000,000 |
|
5. Payable to
employees |
13,669,000,000 |
|
6. Accrued
expenses |
4,176,000,000 |
|
7.
Inter-company payable |
0 |
|
8. Payable
according to the progress of construction contracts |
0 |
|
9. Other
payable |
1,284,000,000 |
|
10. Provisions
for short-term accounts payable |
0 |
|
II. Long-Term Liabilities |
285,895,000,000 |
|
1. Long-term
accounts payable to suppliers |
0 |
|
2. Long-term
inter-company payable |
0 |
|
3. Other
long-term payable |
349,000,000 |
|
4. Long-term
debts and loans |
283,639,000,000 |
|
5. Deferred income
tax payable |
0 |
|
6. Provisions
for unemployment allowances |
1,907,000,000 |
|
7. Provisions
for long-term accounts payable |
0 |
|
B- OWNER’S EQUITY |
934,486,000,000 |
|
I. OWNER’S EQUITY |
809,150,000,000 |
|
1. Capital |
742,160,000,000 |
|
2. Share
premiums |
0 |
|
3. Other
sources of capital |
0 |
|
4. Treasury
stocks |
0 |
|
5. Differences
on asset revaluation |
0 |
|
6. Foreign
exchange differences |
3,444,000,000 |
|
7. Business
promotion fund |
34,462,000,000 |
|
8. Financial
reserved fund |
11,722,000,000 |
|
9. Other funds
|
0 |
|
10. Retained
earnings |
15,254,000,000 |
|
11.
Construction investment fund |
2,108,000,000 |
|
II. Other sources and funds |
125,336,000,000 |
|
1. Bonus and
welfare funds |
47,990,000,000 |
|
2. Sources of
expenditure |
77,346,000,000 |
|
3. Fund to
form fixed assets |
0 |
|
MINORITY’S INTEREST |
|
|
TOTAL LIABILITIES AND OWNER’S EQUITY |
1,548,152,000,000 |
|
PROFIT & LOSS
STATEMENT |
|
|
|
|
|
Description |
FY2010
|
|
1. Total
Sale |
891,935,000,000 |
|
2. Deduction
item |
11,894,000,000 |
|
3. Net sale
|
880,041,000,000 |
|
4. Costs of
goods sold |
814,255,000,000 |
|
5. Gross profit
|
65,786,000,000 |
|
6. Financial
income |
52,306,000,000 |
|
7. Financial
expenses |
25,929,000,000 |
|
- In which:
Loan interest expenses |
14,903,000,000 |
|
8. Selling
expenses |
18,959,000,000 |
|
9.
Administrative overheads |
31,704,000,000 |
|
10. Net
operating profit |
41,500,000,000 |
|
11. Other
income |
4,582,000,000 |
|
12. Other
expenses |
2,447,000,000 |
|
13. Other
profit /(loss) |
2,135,000,000 |
|
14. Total
accounting profit before tax |
43,635,000,000 |
|
15. Current
corporate income tax |
6,035,000,000 |
|
16. Deferred
corporate income tax |
0 |
|
17. Interest
from subsidiaries/related companies |
|
|
18. Profit
after tax |
37,600,000,000 |
|
FINANCIAL RATIOS AND AVERAGE INDUSTRY
RATIOS |
||
|
|
||
|
Description |
FY2010 |
Average Industry |
|
Current
liquidity ratio |
1.47 |
1.39 |
|
Quick
liquidity ratio |
1.04 |
0.86 |
|
Inventory
circle |
5.74 |
10.81 |
|
Average
receive period |
76.63 |
76.50 |
|
Utilizing
asset performance |
0.57 |
1.37 |
|
Liability by
total asset |
39.64 |
58.22 |
|
Liability by
owner equity |
65.67 |
177.75 |
|
Ebit / Total
asset (ROA) |
3.78 |
7.77 |
|
Ebit / Owner's
equity (ROE) |
6.26 |
20.56 |
|
Ebit / Total
sale (NPM) |
6.56 |
5.93 |
|
Gross profit /
Total sale (GPM) |
7.38 |
13.91 |
|
Note: The Average Industry was calculated by Vietnam Credit
based on our owned statistical data |
||
|
BALANCE SHEET |
|||
Unit: One VND
|
|||
|
Balance sheet date |
31/12/2009 |
31/12/2008 |
31/12/2007 |
|
Number of weeks |
52 |
52 |
52 |
|
ASSETS |
|||
|
A – CURRENT ASSETS |
544,767,000,000 |
408,145,000,000 |
408,979,140,566 |
|
I. Cash and cash equivalents |
189,305,000,000 |
47,847,000,000 |
57,822,791,021 |
|
1. Cash |
- |
47,847,000,000 |
57,822,791,021 |
|
2. Cash
equivalents |
- |
0 |
0 |
|
II. Short-term investments |
- |
78,293,000,000 |
77,435,000,000 |
|
1. Short-term
investments |
- |
78,293,000,000 |
77,435,000,000 |
|
2. Provisions
for devaluation of short-term investments |
- |
0 |
0 |
|
III. Accounts receivable |
177,908,000,000 |
139,894,000,000 |
149,289,917,806 |
|
1. Receivable
from customers |
- |
130,692,000,000 |
119,191,227,907 |
|
2. Prepayments
to suppliers |
- |
2,789,000,000 |
17,756,417,850 |
|
3.
Inter-company receivable |
- |
0 |
201,895,793 |
|
4. Receivable
according to the progress of construction |
- |
0 |
0 |
|
5. Other
receivable |
- |
11,449,000,000 |
16,396,967,916 |
|
6. Provisions
for bad debts |
- |
-5,036,000,000 |
-4,256,591,660 |
|
IV. Inventories |
177,554,000,000 |
137,327,000,000 |
119,852,540,192 |
|
1. Inventories
|
- |
163,815,000,000 |
122,689,842,868 |
|
2. Provisions for
devaluation of inventories |
- |
-26,488,000,000 |
-2,837,302,676 |
|
V. Other Current Assets |
- |
4,784,000,000 |
4,578,891,547 |
|
1. Short-term
prepaid expenses |
- |
28,000,000 |
44,351,721 |
|
2. VAT to be
deducted |
- |
1,103,000,000 |
1,122,333,540 |
|
3. Taxes and
other accounts receivable from the State |
- |
641,000,000 |
856,595,025 |
|
4. Other
current assets |
- |
3,012,000,000 |
2,555,611,261 |
|
B. LONG-TERM ASSETS |
909,919,000,000 |
826,144,000,000 |
498,243,161,387 |
|
I. Long term account 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 |
198,130,000,000 |
158,673,000,000 |
143,075,149,134 |
|
1. Tangible
assets |
105,413,000,000 |
104,711,000,000 |
125,605,588,899 |
|
- Historical
costs |
397,377,000,000 |
393,696,000,000 |
393,141,087,750 |
|
- Accumulated
depreciation |
-291,964,000,000 |
-288,985,000,000 |
-267,535,498,851 |
|
2. Financial
leasehold assets |
0 |
0 |
17,313,622,451 |
|
- Historical costs
|
0 |
0 |
18,177,944,352 |
|
- Accumulated
depreciation |
0 |
0 |
-864,321,901 |
|
3. Intangible
assets |
40,085,000,000 |
49,636,000,000 |
0 |
|
- Initial
costs |
- |
51,766,000,000 |
0 |
|
- Accumulated
amortization |
- |
-2,130,000,000 |
0 |
|
4.
Construction-in-progress |
52,632,000,000 |
4,326,000,000 |
155,937,784 |
|
III. Investment property |
- |
276,056,000,000 |
960,325,967 |
|
Historical
costs |
- |
276,652,000,000 |
1,698,802,519 |
|
Accumulated
depreciation |
- |
-596,000,000 |
-738,476,552 |
|
IV. Long-term investments |
- |
346,998,000,000 |
336,926,639,979 |
|
1. Investments
in affiliates |
- |
150,043,000,000 |
132,673,072,540 |
|
2. Investments
in business concerns and joint ventures |
- |
156,040,000,000 |
117,635,802,520 |
|
3. Other
long-term investments |
- |
63,911,000,000 |
104,299,189,800 |
|
4. Provisions
for devaluation of long-term investments |
- |
-22,996,000,000 |
-17,681,424,881 |
|
V. Other long-term assets |
- |
44,417,000,000 |
17,281,046,307 |
|
1. Long-term
prepaid expenses |
- |
44,286,000,000 |
17,269,046,307 |
|
2. Deferred
income tax assets |
- |
91,000,000 |
0 |
|
3. Other
long-term assets |
- |
40,000,000 |
12,000,000 |
|
TOTAL ASSETS |
1,454,686,000,000 |
1,234,289,000,000 |
907,222,301,953 |
|
|
|||
|
LIABILITIES |
|||
|
A- LIABILITIES |
557,658,000,000 |
408,021,000,000 |
157,473,742,192 |
|
I. Current liabilities |
- |
384,440,000,000 |
127,639,832,294 |
|
1. Short-term debts
and loans |
- |
307,611,000,000 |
51,547,370,752 |
|
2. Payable to
suppliers |
- |
35,909,000,000 |
40,442,129,066 |
|
3. Advances
from customers |
- |
10,798,000,000 |
5,019,250,255 |
|
4. Taxes and
other obligations to the State Budget |
- |
12,338,000,000 |
14,582,934,482 |
|
5. Payable to
employees |
- |
12,796,000,000 |
7,488,041,755 |
|
6. Accrued
expenses |
- |
3,170,000,000 |
3,014,374,665 |
|
7.
Inter-company payable |
- |
0 |
201,895,793 |
|
8. Payable according
to the progress of construction contracts |
- |
0 |
0 |
|
9. Other
payable |
- |
1,818,000,000 |
5,343,835,526 |
|
10. Provisions
for short-term accounts payable |
- |
0 |
0 |
|
II. Long-Term Liabilities |
- |
23,581,000,000 |
29,833,909,898 |
|
1. Long-term
accounts payable to suppliers |
- |
0 |
0 |
|
2. Long-term
inter-company payable |
- |
0 |
0 |
|
3. Other
long-term payable |
- |
349,000,000 |
476,463,000 |
|
4. Long-term
debts and loans |
- |
21,156,000,000 |
27,235,095,424 |
|
5. Deferred
income tax payable |
- |
0 |
0 |
|
6. Provisions
for unemployment allowances |
- |
2,076,000,000 |
2,122,351,474 |
|
7. Provisions
for long-term accounts payable |
- |
0 |
0 |
|
B- OWNER’S EQUITY |
897,028,000,000 |
826,268,000,000 |
749,748,559,761 |
|
I. OWNER’S EQUITY |
- |
787,573,000,000 |
726,228,613,323 |
|
1. Capital |
- |
668,700,000,000 |
620,398,611,512 |
|
2. Share
premiums |
- |
0 |
0 |
|
3. Other
sources of capital |
- |
0 |
0 |
|
4. Treasury
stocks |
- |
0 |
0 |
|
5. Differences
on asset revaluation |
- |
0 |
0 |
|
6. Foreign
exchange differences |
- |
0 |
0 |
|
7. Business
promotion fund |
- |
33,134,000,000 |
35,368,590,583 |
|
8. Financial
reserved fund |
- |
11,353,000,000 |
10,493,487,568 |
|
9. Other funds
|
- |
70,679,000,000 |
57,027,754,874 |
|
10. Retained
earnings |
- |
0 |
0 |
|
11.
Construction investment fund |
- |
3,707,000,000 |
2,940,168,786 |
|
II. Other sources and funds |
- |
38,695,000,000 |
23,519,946,438 |
|
1. Bonus and
welfare funds |
- |
38,595,000,000 |
23,509,946,438 |
|
2. Sources of
expenditure |
- |
100,000,000 |
10,000,000 |
|
3. Fund to
form fixed assets |
- |
0 |
0 |
|
MINORITY’S INTEREST |
- |
0 |
0 |
|
TOTAL LIABILITIES AND OWNER’S EQUITY |
1,454,686,000,000 |
1,234,289,000,000 |
907,222,301,953 |
|
PROFIT & LOSS
STATEMENT |
|||
|
|
|||
|
Description |
FY2009 |
FY2008
|
FY2007
|
|
1. Total
Sale |
810,922,000,000 |
924,528,000,000 |
648,666,574,980 |
|
2. Deduction
item |
12,942,000,000 |
9,800,000,000 |
5,929,607,512 |
|
3. Net sale
|
797,980,000,000 |
914,728,000,000 |
642,736,967,468 |
|
4. Costs of
goods sold |
726,136,000,000 |
837,266,000,000 |
603,078,978,622 |
|
5. Gross
profit |
71,844,000,000 |
77,462,000,000 |
39,657,988,846 |
|
6. Financial
income |
52,379,000,000 |
49,969,000,000 |
45,022,676,127 |
|
7. Financial
expenses |
15,620,000,000 |
29,465,000,000 |
16,741,679,572 |
|
- In which:
Loan interest expenses |
- |
8,715,000,000 |
6,164,647,249 |
|
8. Selling
expenses |
41,594,000,000 |
22,025,000,000 |
14,709,360,704 |
|
9.
Administrative overheads |
- |
24,347,000,000 |
17,656,013,694 |
|
10. Net
operating profit |
67,009,000,000 |
51,594,000,000 |
35,573,611,003 |
|
11. Other
income |
5,263,000,000 |
6,935,000,000 |
11,421,063,390 |
|
12. Other
expenses |
1,811,000,000 |
1,628,000,000 |
313,762,443 |
|
13. Other
profit /(loss) |
3,452,000,000 |
5,307,000,000 |
11,107,300,947 |
|
14. Total
accounting profit before tax |
70,461,000,000 |
56,901,000,000 |
46,680,911,950 |
|
15. Current
corporate income tax |
8,987,000,000 |
9,344,000,000 |
7,998,248,728 |
|
16. Deferred
corporate income tax |
0 |
0 |
0 |
|
18. Profit
after tax |
61,474,000,000 |
47,557,000,000 |
38,682,663,222 |
PAYMENT HISTORY & PERFORMANCE
EXPERIENCES
|
Trade Morality |
|
Fair |
|
Liquidity |
|
Medium |
|
Payment status |
|
Above Average |
|
Financial
Situation |
|
Above Average |
|
Development
trend |
|
Positive |
|
Litigation
data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment
Methods |
|
Cash, L/C, T/T
and Transfer of Money |
|
Sale Methods |
|
Wholesaler |
|
Public opinion
|
|
Good |
CREDIT INQUIRY: N/A
INTERPRETATION ON THE SCORES
|
Being a state owned corporation, the
subject has a long history since 1978 with the name of General Printing
Factory. It was re-organized many times in order to suitable with Vietnam
economy. The subject is now operating under named “LIKSIN INDUSTRY - PRINTING
- PACKAGING CORPORATION” and business registration No. 0301441600 (the same
with tax code). The subject is specializing on
production and supply of printing products, flexible packaging, paper
packaging and high-grade labels, financial investment in the other
enterprises. Besides, the subject also produces and trades in products of
prepress, printing, packaging, inks & chemicals, paper and raw materials.
The subject is improving its management to be more effective. So far, the
subject is fairly big corporation in this field with many subsidiaries and
associations. Products of the subject have
reached high quality standards and satisfied requirements of local and
foreign consumers. It products also have chosen the Vietnam top quality
products for many successive years and the subject was granted an ISO - 9002
certificate, Vietnam Quality Gold Award in 2000, Labour Medal I Grade in
2005. According to reported financial
statement, financial situation of the subject is fair. It has a fast increase
in total assets across three years. The profit after tax of the subject
increased each year. The position of the subject in
the industry is considerable. The corporation has been a large provider of
printed products and packages in Vietnam. The subject has bright future for
development. It has capacity to meet the normal – medium 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 |
||||||
|
|
||||||
|
|
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 |
71.6 |
56.6 |
62.9 |
|||
|
Imports |
84 |
68.8 |
76.6 |
|||
|
Trade Balance |
-12.4 |
-12.2 |
-14.6 |
|||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.13 |
|
UK Pound |
1 |
Rs.72.05 |
|
Euro |
1 |
Rs.63.33 |
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.