MIRA INFORM REPORT

 

 

Report Date :           

21.06.2011

 

IDENTIFICATION DETAILS

 

Name :

GOLDEN STAR TRADING & SHIPPING INVESTMENT JOINT STOCK COMPANY 

 

 

Registered Office :

No. 83 May To - Lac Vien Ward - Ngo Quyen District - Hai Phong City

 

 

Country :

Vietnam

 

 

Date of Incorporation :

05.05.2009

 

 

Com. Reg. No.:

0203005270

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

importing and re-exporting frozen products

 

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 – 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

 

 Bottom of Form

 

SUBJECT IDENTIFICATION & LEGAL FORM

 

English Name

 

GOLDEN STAR TRADING & SHIPPING INVESTMENT JOINT STOCK COMPANY

Vietnamese Name

 

CONG TY CO PHAN DAU TU VAN TAI BIEN & THUONG MAI SAO VANG

Short name

 

GOLDEN STAR TRASHIPINCO.

Type of Business

 

Joint stock company

Year Established

 

2009

Business Registration No.

 

0203005270

Date of Registration

 

05 May 2009

Place of Registration

 

Hai Phong Department of Planning and Investment

Current registered capital

 

VND 1,950,000,000

Status

 

Unlisted

Tax code

 

0200912437

Total Employees

 

10

Size

 

Small

 

 

 

company ADDRESSES

 

Registration Address

Address

 

No. 83 May To - Lac Vien Ward - Ngo Quyen District - Hai Phong City - Vietnam

Telephone

 

(84-31) 3 837 109

 

Transaction office in Hai Phong

Address

 

No. 18 Doan Xa Str - Dong Hai Ward - Hai An District - Hai Phong City - Vietnam

Telephone

 

(84-31) 3 652 520

Fax

 

(84-31) 3 652 521

Land-use Right

 

Leased

 

DIRECTORS

 

1. NAME

 

Mr. PHAM QUANG MINH

Position

 

Director

Date of Birth

 

16 May 1976

ID Number/Passport

 

030953139

ID Issue Date

 

20 Apr 2009

ID Issue Place

 

Police of Hai Phong City

Resident

 

No. 1C85 Cau Tre Ward - Ngo Quyen District - Hai Phong City - Vietnam

Nationality

 

Vietnamese

 

2. NAME

 

Mr. CHU HAI NAM

Position

 

Vice Director

ID Number/Passport

 

030978389

Resident

 

No.1 Le Lai Str - Lac Vien Ward - Ngo Quyen District - Hai Phong City - Vietnam

Nationality

 

Vietnamese

 

3. NAME

 

Mr. DINH QUANG THANG

Position

 

Vice - Director

Nationality

 

Vietnamese

 

 

 

BUSINESS NATURE AND ACTIVITIES

 

The subject is specialized in importing and re-exporting frozen products.

 

 

 

IMPORT & EXPORT ACTIVITIES

 

IMPORT:

·         Types of products

 

Frozen products

·         Market

 

India, Pakistan, Japan, Taiwan, Malaysia, Thailand, Indonesia, Turkey

·         Ratio

 

100%

·         Mode of payment

 

T/T

 

EXPORT:

·         Types of products

 

Frozen products

·         Market

 

China, Thailand, Japan

 

 

 

BANKERS

 

1. JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM HAI PHONG BRANCH

Address

 

No 11 Hoang Dieu - Hong Bang District - Hai Phong City - Vietnam

Telephone

 

(84-31) 3842658 / 3841115

Fax

 

(84-31) 3841117

 

 

 

SHAREHOLDERS

 

1. NAME

 

Mr. PHAM QUANG MINH

Position

 

Director

Date of Birth

 

16 May 1976

ID Number/Passport

 

030953139

Issued on

 

20 Apr 2009

Issued Place

 

Police of Hai Phong City

Resident

 

No. 1C85 Cau Tre Ward - Ngo Quyen District - Hai Phong City - Vietnam

Nationality

 

Vietnamese

Number of Shares

 

850

Value of shares

 

VND 850,000,000

Percentage

 

43.59%

 

2. NAME

 

Mr. CHU HAI NAM

Position

 

Vice Director

ID Number/Passport

 

030978389

Resident

 

No.1 Le Lai Str - Lac Vien Ward - Ngo Quyen District - Hai Phong City - Vietnam

Nationality

 

Vietnamese

Number of Shares

 

500

Value of shares

 

VND 500,000,000

Percentage

 

25.64%

 

3. NAME

 

Mr. DO NAM BINH

ID Number/Passport

 

164121225

Resident

 

Thuong Lan Area - Ninh Son Ward - Ninh Binh City - Ninh Binh Province - Vietnam

Nationality

 

Vietnamese

Number of Shares

 

600

Value of shares

 

VND 600,000,000

Percentage

 

30.77%

 

 

 

FINANCIAL DATA

 

N/A

 

 

 

PAYMENT HISTORY & PERFORMANCE EXPERIENCES

 

Trade Morality

 

Normal

Liquidity

 

N/A

Payment status

 

N/A

Financial Situation

 

Below average

Development trend

 

N/A

Litigation data

 

No Record

Bankruptcy

 

No Record

Payment Methods

 

T/T

Sale Methods

 

To contracts

 

 

CREDIT INQUIRY: USD 125,000 against DA in terms

Caution

 

 

 

INTERPRETATION ON THE SCORES

 

GOLDEN STAR TRADING & SHIPPING INVESTMENT JOINT STOCK COMPANY (GOLDEN STAR TRASHIPINCO) was founded in May 2009 with Business Registration No. 0203005270 granted by Hai Phong Department of Planning and Investment; its Tax Code No. is 0200912437. Current registered capital of the subject is VND 1.950 billion distributed by three shareholders; they are Mr. Pham Quang Minh (43.59%), Mr. Chu Hai Nam (25.64%) and Mr. Do Dinh Nam (30.77%).
GOLDEN STAR TRASHIPINCO registers its address is at No. 83, May To, Lac Vien Ward, Ngo Quyen District, Hai Phong City. However, all of its transactions take place at No. 18 Doan Xa Street, Dong Hai Ward, Hai An District, Hai Phong City.
Mr. Pham Quang Minh, the main shareholder, is the director of GOLDEN STAR TRASHIPINCO; management capacity is considered at average level. There are 10 employees working for the subject under normal condition of equipment and facility.

The subject registers its business lines in diversified fields. However, it focuses much on importing - exporting frozen products; specifically according to Mr. Pham Quang Minh, GOLDEN STAR TRASHIPINCO plays a role as an agent and gains mainly from commission. The subject imports frozen products from India, Pakistan, Japan, Taiwan, Malaysia, Thailand, Indonesia, and Turkey then after processing in Vietnam, finished products are exported to China, Thailand, and Japan.

Mr. Pham Quang Minh reveals that the value of each import order is about USD 3,500 on average; he also says that GOLDEN STAR TRASHIPINCO is able to pay the credit inquiry of USD 125,000 but caution is needed for that transaction because the subject denies providing its financial data, there is no official evidence to analyze about its financial capacity.
In conclusion, GOLDEN STAR TRASHIPINCO is a new and small company in the industry. It has ability to meet small financial commitments; caution is needed for medium and big business transactions.

 

 

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.44.99

UK Pound

1

Rs.72.60

Euro

1

Rs.64.01

 

 

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.