MIRA INFORM REPORT
|
Report Date : |
04.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
INDUSTRIAL TECHNIQUE CORPORATION |
|
|
|
|
Registered Office : |
4th Floor - No.8 Le Duan Street - Ward Ben Nghe - District
1 - Ho Chi Minh City |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Year of Establishment : |
2002 |
|
|
|
|
Com. Reg. No.: |
0303237671 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Producing industrial and household machines
& equipment |
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 – 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
|
||
|
English Name |
|
INDUSTRIAL TECHNIQUE CORPORATION |
|
Vietnamese Name |
|
CONG TY CO PHAN KY THUAT CONG NGHIEP |
|
Trade name |
|
INDUSTRIAL TECHNIQUE CORPORATION |
|
Short name |
|
INTECH CORP |
|
Type of Business |
|
Joint Stock Company |
|
Year Established |
|
2002 |
|
Business Registration No. |
|
0303237671 |
|
Date of the First Registration |
|
10 Mar 2004 |
|
Place of Registration |
|
Business Registration Office of Ho Chi
Minh City |
|
Current registered capital |
|
36,000,000,000 VND |
|
Tax code |
|
0303237671 |
|
Total Employees |
|
70 |
|
Size |
|
Medium |
Historical Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Business
Registration No: 4102010553 Issued on July 1st 2002 Changed to: 4103002159 |
10
Mar 2004 |
|
2 |
Subject has got former Business Registration
No: 4103002159 Changed to: 0303237671 |
N/A |
company ADDRESSES
|
Head Office |
||
|
Address |
|
4th Floor - No.8 Le Duan Street
- Ward Ben Nghe - District 1 - Ho Chi Minh City - Vietnam |
|
Telephone |
|
(84-8) 5404 0908 |
|
Fax |
|
(84-8) 5404 0904 |
|
Email |
|
|
|
Website |
|
www.intechco.com www.intechgroup.org |
|
|
||
|
Factory Address |
||
|
Address |
|
30 Phan Van Hon Street - Tan Thoi Nhi Ward
- District 12- Ho Chi Minh City - Vietnam |
SUBSIDIARIES AND RELATED COMPANIES
|
1. SUBSIDIARIES
- INDUSTRIAL POWER CORPORATION |
||
|
Business Registration |
|
0309498165 |
|
Tax code |
|
0309498165 |
|
Address |
|
4th Floor - No.8 - Le Duan Street - Ward Ben Nghe -
District 1- Ho Chi Minh City - Vietnam |
|
Tel |
|
(84-8) 5 40 40 908 |
|
Fax |
|
(84-8) 5 40 40 904 |
|
Website |
|
|
|
|
||
|
2. SUBSIDIARIES
- INDUSTRIAL BUILD MANAGEMENT CORPORATION |
||
|
Business Registration |
|
4103008618 |
|
Address |
|
4th Floor - No.8 - Le Duan Street - Ward Ben Nghe- District
1- Ho Chi Minh City - Vietnam |
|
Tel |
|
84-8-5 40 40 908 |
|
Fax |
|
84-8-5 40 40 904 |
|
Website |
|
|
|
|
||
|
3. SUBSIDIARIES
- INDUSTRIAL OIL AND GAS MARINE EQUIPMENT CORPORATION |
||
|
Business Registration |
|
0305510534 |
|
Tax code |
|
0305510534 |
|
Address |
|
4th Floor - No.8 - Le Duan Street - Ward Ben Nghe -
District 1- Ho Chi Minh City - Vietnam |
|
|
||
|
4. SUBSIDIARIES
- NDUSTRY INVESTMENT CONSULTANCE DESIGN CORPORATION |
||
|
Business Registration |
|
4103008838 |
|
Address |
|
4th Floor - No.8 - Le Duan Street - Ward Ben Nghe -
District 1- Ho Chi Minh City - Vietnam |
DIRECTORS
|
1.
NAME |
|
Mr.
NGUYEN SI TUAN |
|
Position |
|
General Director |
|
Date of Birth |
|
05 Jul 1973 |
|
ID Number/Passport |
|
022667041 |
|
ID Issue Date |
|
11 Aug 1999 |
|
ID Issue Place |
|
Police Station of
HoChiMinh City |
|
Resident |
|
51/2 Ong Ich Khiem
Str, Ward 10 - District 11- Ho Chi Minh City - Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
2.
NAME |
|
Mr.
PHAM QUOC DUNG |
|
Position |
|
Deputy General Director |
|
ID Number/Passport |
|
022090571 |
|
Resident |
|
344/400 Cach Mang
Thang Tam Str, Ward 5 - Tan Binh District - Ho Chi Minh City - Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
+84 9 0666 3989 |
|
|
||
|
3.
NAME |
|
Mr.
TRAN GIA QUOC ANH |
|
Position |
|
Deputy Director of Technical |
|
Nationality |
|
Vietnamese |
|
|
||
|
4.
NAME |
|
Mr.
NGUYEN DUC THANG |
|
Position |
|
Deputy Director of Trading |
|
ID Number/Passport |
|
022667042 |
|
Current resident |
|
51/2 Ong Ich Khiem Street Ward 10 -
District 11- Ho Chi Minh City - Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
5.
NAME |
|
Ms.
TRUONG THI KIM PHUONG |
|
Position |
|
Human & Administrative Manager |
|
Nationality |
|
Vietnamese |
BUSINESS NATURE AND ACTIVITIES
|
Producing industrial and household machines &
equipment Produce & install IT software. |
IMPORT & EXPORT ACTIVITIES
|
IMPORT: |
||
|
·
Market |
|
Japan, America, UK, India, Taiwan, Australia,... |
|
|
||
|
EXPORT: |
||
|
·
Market |
|
N/A |
BANKERS
|
1.
VIETNAM TECHNOLOGICAL AND COMMERCIAL JOINT STOCK BANK HO CHI MINH BRANCH |
||
|
Address |
|
No.6 Nguyen Thi Minh Khai, Da Kao ward - District 1 - Ho Chi Minh City
- Vietnam |
|
Telephone |
|
(84-8) 3911 6868 – (84-8) 3456 6868 |
|
Fax |
|
(84-8) 39112199 |
|
|
||
|
2.
VIETNAM THUONGTIN COMMERCIAL JOINT STOCK BANK DISTRICT 11 BRANCH |
||
|
|
||
|
3.
VIET NAM BANK FOR AGRICULTURE AND RURAL DEVELOPMENT HOCHIMINH CITY BRANCH |
||
|
Address |
|
No. 50 Ben Chuong Duong Street - District 1- Ho Chi Minh City -
Vietnam |
|
Telephone |
|
(84-8) 38222752 - 38295434 |
|
Fax |
|
(84-8) 38294063 |
|
|
||
|
4.
ASIA COMMERCIAL JOINT STOCK BANK |
||
|
Address |
|
No. 442 Nguyen Thi Minh Khai Street, Ward 5 - District 3- Ho Chi Minh
City - Vietnam |
|
Telephone |
|
(84-8) 3833 4085/3839 5179/3929 0999 |
|
Fax |
|
(84-8) 3835 9156/ 3839 9885 |
SHAREHOLDERS
|
1.
NAME |
|
Mr.
NGUYEN DUC THANG |
|
Position |
|
Deputy Director of Trading |
|
ID Number/Passport |
|
022667042 |
|
Current Resident |
|
51/2 Ong ICh Khiem Street Ward 10 -
District 11- Ho Chi Minh City - Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
12,000,000,000 VND |
|
Percentage |
|
33.33% |
|
|
||
|
2.
NAME |
|
Mr.
NGUYEN SI TUAN |
|
Position |
|
General Director |
|
Date of Birth |
|
05 Jul 1973 |
|
ID Number/Passport |
|
022667041 |
|
Issued on |
|
11 Aug 1999 |
|
Issued Place |
|
Police Station of HoChiMinh City |
|
Resident |
|
51/2 Ong Ich Khiem Str, Ward 10 - District
11- Ho Chi Minh City - Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
12,000,000,000 VND |
|
Percentage |
|
33.33% |
|
|
||
|
3.
NAME |
|
Mr.
PHAM QUOC DUNG |
|
Position |
|
Deputy General Director |
|
ID Number/Passport |
|
022090571 |
|
Resident |
|
344/400 Cach Mang Thang Tam Str, Ward 5 -
Tan Binh District - Ho Chi Minh City - Vietnam |
|
Mobile phone |
|
+84 9 0666 3989 |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
12,000,000,000 VND |
|
Percentage |
|
33.33% |
FINANCIAL DATA
|
BALANCE
SHEET |
|
Unit: One VND
|
|
|
Balance sheet
date |
31/12/2009 |
|
Number of weeks |
52 |
|
ASSETS |
|
|
A – CURRENT
ASSETS |
60,836,000,000 |
|
I. Cash and cash
equivalents |
349,000,000 |
|
1. Cash |
349,000,000 |
|
2. Cash equivalents |
0 |
|
II. Short-term
investments |
0 |
|
1. Short-term investments |
0 |
|
2. Provisions for devaluation of short-term investments |
0 |
|
III. Accounts
receivable |
27,644,000,000 |
|
1. Receivable from customers |
2,670,000,000 |
|
2. Prepayments to suppliers |
19,390,000,000 |
|
3. Inter-company receivable |
107,000,000 |
|
4. Receivable according to the progress of construction |
0 |
|
5. Other receivable |
5,477,000,000 |
|
6. Provisions for bad debts |
0 |
|
IV. Inventories |
26,671,000,000 |
|
1. Inventories |
26,671,000,000 |
|
2. Provisions for devaluation of inventories |
0 |
|
V. Other Current
Assets |
6,172,000,000 |
|
1. Short-term prepaid expenses |
1,458,000,000 |
|
2. VAT to be deducted |
1,811,000,000 |
|
3. Taxes and other accounts receivable from the State |
0 |
|
4. Other current assets |
2,903,000,000 |
|
B. LONG-TERM
ASSETS |
25,533,000,000 |
|
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
|
17,933,000,000 |
|
1. Tangible assets |
17,933,000,000 |
|
- Historical costs |
18,209,000,000 |
|
- Accumulated depreciation |
-276,000,000 |
|
2. Financial leasehold assets |
0 |
|
- Historical costs |
0 |
|
- Accumulated depreciation |
0 |
|
3. Intangible assets |
0 |
|
- Initial costs |
0 |
|
- Accumulated amortization |
0 |
|
4. Construction-in-progress |
0 |
|
III. Investment
property |
0 |
|
Historical costs |
0 |
|
Accumulated depreciation |
0 |
|
IV. Long-term
investments |
7,600,000,000 |
|
1. Investments in affiliates |
7,600,000,000 |
|
2. Investments in business concerns and joint ventures |
0 |
|
3. Other long-term investments |
0 |
|
4. Provisions for devaluation of long-term investments |
0 |
|
V. Other
long-term assets |
0 |
|
1. Long-term prepaid expenses |
0 |
|
2. Deferred income tax assets |
0 |
|
3. Other long-term assets |
0 |
|
TOTAL ASSETS |
86,369,000,000 |
|
LIABILITIES |
|
|
A- LIABILITIES |
50,194,000,000 |
|
I. Current
liabilities |
50,194,000,000 |
|
1. Short-term debts and loans |
37,417,000,000 |
|
2. Payable to suppliers |
3,070,000,000 |
|
3. Advances from customers |
9,657,000,000 |
|
4. Taxes and other obligations to the State Budget |
50,000,000 |
|
5. Payable to employees |
0 |
|
6. Accrued expenses |
0 |
|
7. Inter-company payable |
0 |
|
8. Payable according to the progress of construction contracts |
0 |
|
9. Other payable |
0 |
|
10. Provisions for short-term accounts payable |
0 |
|
II. Long-Term
Liabilities |
0 |
|
1. Long-term accounts payable to suppliers |
0 |
|
2. Long-term inter-company payable |
0 |
|
3. Other long-term payable |
0 |
|
4. Long-term debts and loans |
0 |
|
5. Deferred income tax payable |
0 |
|
6. Provisions for unemployment allowances |
0 |
|
7. Provisions for long-term accounts payable |
0 |
|
B- OWNER’S
EQUITY |
36,175,000,000 |
|
I. OWNER’S EQUITY
|
36,175,000,000 |
|
1. Capital |
36,000,000,000 |
|
2. Share premiums |
0 |
|
3. Other sources of capital |
0 |
|
4. Treasury stocks |
0 |
|
5. Differences on asset revaluation |
0 |
|
6. Foreign exchange differences |
0 |
|
7. Business promotion fund |
0 |
|
8. Financial reserved fund |
0 |
|
9. Other funds |
0 |
|
10. Retained earnings |
175,000,000 |
|
11. Construction investment fund |
0 |
|
II. Other
sources and funds |
0 |
|
1. Bonus and welfare funds |
0 |
|
2. Sources of expenditure |
0 |
|
3. Fund to form fixed assets |
0 |
|
MINORITY’S INTEREST
|
0 |
|
TOTAL
LIABILITIES AND OWNER’S EQUITY |
86,369,000,000 |
|
PROFIT
& LOSS STATEMENT |
|
|
|
|
|
Description |
FY2009 |
|
1. Total Sale |
36,892,000,000 |
|
2. Deduction item |
160,000,000 |
|
3. Net sale |
36,732,000,000 |
|
4. Costs of goods sold |
27,497,000,000 |
|
5. Gross profit |
9,235,000,000 |
|
6. Financial income |
467,000,000 |
|
7. Financial expenses |
3,096,000,000 |
|
- In which: Loan interest expenses |
2,037,000,000 |
|
8. Selling expenses |
885,000,000 |
|
9. Administrative overheads |
5,570,000,000 |
|
10. Net operating profit |
151,000,000 |
|
11. Other income |
0 |
|
12. Other expenses |
0 |
|
13. Other profit /(loss) |
0 |
|
14. Total accounting profit before tax |
151,000,000 |
|
15. Current corporate income tax |
37,000,000 |
|
16. Deferred corporate income tax |
0 |
|
18. Profit after tax |
114,000,000 |
|
|
||
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||
|
|
||
|
Description |
FY2009 |
Average Industry |
|
Current liquidity ratio |
1.21 |
1.33 |
|
Quick liquidity ratio |
0.68 |
0.83 |
|
Inventory circle |
1.03 |
5.61 |
|
Average receive period |
274.69 |
148.37 |
|
Utilizing asset performance |
0.43 |
1.00 |
|
Liability by total asset |
58.12 |
68.62 |
|
Liability by owner equity |
138.75 |
353.53 |
|
Ebit / Total asset (ROA) |
2.53 |
6.96 |
|
Ebit / Owner's equity (ROE) |
6.05 |
25.50 |
|
Ebit / Total sale (NPM) |
5.93 |
7.11 |
|
Gross profit / Total sale (GPM) |
25.03 |
14.39 |
|
Note: The Average Industry was calculated by Vietnam Credit based on our
owned statistical data |
||
PAYMENT HISTORY & PERFORMANCE
EXPERIENCES
|
Trade Morality |
|
Good |
|
Liquidity |
|
Medium |
|
Payment status |
|
Average |
|
Financial Situation |
|
Average |
|
Development trend |
|
Stable |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
Cash, through the bank, TT, LC |
|
Sale Methods |
|
To contracts, retailer and wholesale |
INTERPRETATION ON THE SCORES
|
The
subject-INDUSTRIAL TECHNIQUE CORPORATION was established in 2002. The
original business type of the subject was Liability Limited Company. It was
called Industrial Technic Co., Ltd. Since 2004, the subject has been changed
to joint stock company, called
Industrial Technique Corporation. The subject has some subsidiaries
such as Industrial Power Corporation, Industrial Build Management
Corporation, Industrial Oil And Gas Marine Equipment Corporation, Industry
Investment Consultance Design Corporation. All there companies have he same
location and legal representative person (4th Floor - No.8 Le Duan
Street - Ward Ben Nghe - Dist 1- Ho Chi Minh City - Vietnam and Mr. Nguyen Si
Tuan is representative person). The
subject specializes in assembling, trading, installing, maintaining
electrical systems & equipment; The subject is trading generator which
has brand named INTECH POWER and distributing some other brands like Crompton
Greaves, Omron , Schneider , Kemppi, ABB, PRAMAC, KUBOTA, CUMMINS, FG WILSON. INTECH POWER brand is a brand have
reputation in market. The subject almost operates in domestic market. It
imports products or components from some countries such as Japan, America,
UK, India, Taiwan and Australia for assembling and distributing to domestic
market. According
to financial statements, sale in 2009 was over 36.8 billion VND, profit after
tax was 114 million VND. Management
system is fairly good. Facilities are quite good, liquidity was normal.
Operational ratio was normal. The subject can meet small-normal transactions.
Cautions needed with medium-big transactions with subject. |
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.44.85 |
|
UK Pound |
1 |
Rs.73.29 |
|
Euro |
1 |
Rs.64.89 |
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.