MIRA INFORM REPORT
|
Report Date : |
13.05.2011 |
IDENTIFICATION DETAILS
|
Correct Name : |
NGU LONG TRADING & SERVICE CO., LTD |
|
|
|
|
Registered Office : |
No.131 Bau Cat Street, Ward 12 - Tan Binh District - Ho Chi Minh City |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
05.02.2010 |
|
|
|
|
Com. Reg. No.: |
0305491289 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
importing and trading veterinary products, especially products for aquaculture. |
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 : |
Small Company |
|
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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
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
|
||
|
Translated English Name |
|
NGU LONG TRADING & SERVICE CO., LTD |
|
Registered Vietnamese Name |
|
CONG TY TNHH THUONG MAI DICH VU NGU LONG |
|
Trade name |
|
NGU LONG TRADING & SERVICE CO., LTD |
|
Type of Business |
|
Limited liability company |
|
Founded |
|
2008 |
|
Business Registration No. |
|
0305491289 |
|
Date of Registration |
|
05 Feb 2010 |
|
Place of Registration |
|
Business Registration Office of Hochiminh
city |
|
Current registered capital |
|
4,000,000,000 VND |
|
Tax code |
|
0305491289 |
|
Total Employees |
|
25 |
|
Size |
|
Small |
Historical Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Business
Registration No: 4102058400 which was issued on 13 Feb 2008 Changed to: 0305491289 |
05
Feb 2010 |
company ADDRESSES
|
Head Office |
||
|
Address |
|
No.131 Bau Cat Street, Ward 12 - Tan Binh
District - Ho Chi Minh City - Vietnam |
|
Telephone |
|
(84-8) 39492257/ 39492693/ 39492692 /
39492258 |
|
Fax |
|
(84-8) 39492260 |
|
Email |
|
|
|
Notes: Former address: No. 93 Bau Cat 3 Street - Ward 12 - Tan Binh
District - Ho Chi Minh City - Vietnam |
||
DIRECTORS
|
1.
NAME |
|
Mr.
DUONG TAN THANH |
|
Position |
|
Chairman |
|
ID Number/Passport |
|
024424220 |
|
Resident |
|
No. 250/12 Vuon Lai
Street Phu THo Hoa Ward - Tan Phu District - Ho Chi Minh City - Vietnam |
|
Nationality |
|
Vietnamese |
|
Note:
Mr. DUONG TAN THANH is husband of Ms. NGUYEN THI NU |
||
|
2.
NAME |
|
Mrs.
NGUYEN THI NU |
|
Position |
|
Director |
|
Date of Birth |
|
04 Nov 1976 |
|
ID Number/Passport |
|
024424221 |
|
ID Issue Date |
|
28 Jun 2005 |
|
ID Issue Place |
|
Police station of
Hochiminh city |
|
Resident |
|
No. 250/12 Vuon Lai
Street Phu Tho Hoa Ward - Tan Phu District - Ho Chi Minh City - Vietnam |
|
Nationality |
|
Vietnamese |
|
Mobile phone |
|
++84 908 245 520 |
ACTIVITIES
|
The subject
specializes in importing and trading veterinary products, especially products
for aquaculture. |
IMPORT & EXPORT ACTIVITIES
|
EXPORT: |
||
|
·
Types of products |
|
N/a |
|
·
Market |
|
N/a |
|
IMPORT: |
||
|
·
Types of products |
|
The subject imports veterinary products |
|
·
Market |
|
China, Thailand and EU |
BANKERS
|
ASIA
COMMERCIAL BANK LUY BAN BICH BRANCH |
||
|
Address |
|
No.414 Luy Ban Bich, Hoa Thanh ward - Tan Phu District - Ho Chi Minh
City - Vietnam |
|
Telephone |
|
(84-8) 3973 5204 |
|
Fax |
|
(84-8) 3973 5205 |
SHAREHOLDERS
|
1.
NAME |
|
Mrs.
NGUYEN THI NU |
|
Position |
|
Director |
|
Date of Birth |
|
04 Nov 1976 |
|
ID Number/Passport |
|
024424221 |
|
Issued on |
|
28 Jun 2005 |
|
Issued Place |
|
Police station of Hochiminh city |
|
Resident |
|
No. 250/12 Vuon Lai Street Phu Tho Hoa
Ward - Tan Phu District - Ho Chi Minh City - Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
600,000,000 VND |
|
Percentage |
|
15% |
|
|
||
|
2.
NAME |
|
Mr.
DUONG TAN THANH |
|
Position |
|
Chairman |
|
ID Number/Passport |
|
024424220 |
|
Resident |
|
No. 250/12 Vuon Lai Street Phu THo Hoa
Ward - Tan Phu District - Ho Chi Minh City - Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
2,000,000,000 VND |
|
Percentage |
|
50% |
|
|
||
|
3.
NAME |
|
Ms.
TRAN THI KIM TIEN |
|
ID Number/Passport |
|
024344933 |
|
Resident |
|
No. 17/3G Quang Trung sTreet Ward 12 - Go
Vap District - Ho Chi Minh City - Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
1,400,000,000 VND |
|
Percentage |
|
35% |
FINANCIAL DATA
|
|
||
|
BALANCE
SHEET |
||
Unit: One VND
|
||
|
Balance sheet
date |
31/12/2009 |
31/12/2008 |
|
Number of weeks |
52 |
N/A |
|
ASSETS |
||
|
A – CURRENT
ASSETS |
4,700,000,000 |
1,107,000,000 |
|
I. Cash and cash
equivalents |
405,000,000 |
633,000,000 |
|
1. Cash |
405,000,000 |
633,000,000 |
|
2. Cash equivalents |
0 |
0 |
|
II. Short-term
investments |
0 |
0 |
|
1. Short-term investments |
0 |
0 |
|
2. Provisions for devaluation of short-term investments |
0 |
0 |
|
III. Accounts
receivable |
1,379,000,000 |
0 |
|
1. Receivable from customers |
1,067,000,000 |
0 |
|
2. Prepayments to suppliers |
311,000,000 |
0 |
|
3. Inter-company receivable |
0 |
0 |
|
4. Receivable according to the progress of construction |
0 |
0 |
|
5. Other receivable |
1,000,000 |
0 |
|
6. Provisions for bad debts |
0 |
0 |
|
IV. Inventories |
2,791,000,000 |
393,000,000 |
|
1. Inventories |
2,791,000,000 |
393,000,000 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
|
V. Other Current
Assets |
125,000,000 |
81,000,000 |
|
1. Short-term prepaid expenses |
15,000,000 |
0 |
|
2. VAT to be deducted |
79,000,000 |
81,000,000 |
|
3. Taxes and other accounts receivable from the State |
0 |
0 |
|
4. Other current assets |
31,000,000 |
0 |
|
B. LONG-TERM
ASSETS |
230,000,000 |
863,000,000 |
|
I. Long term
account receivable |
0 |
0 |
|
1. Long term account receivable from customers |
0 |
0 |
|
2. Working capital in affiliates |
0 |
0 |
|
3. Long-term inter-company receivable |
0 |
0 |
|
4. Other long-term receivable |
0 |
0 |
|
5. Provisions for bad debts from customers |
0 |
0 |
|
II. Fixed assets
|
230,000,000 |
863,000,000 |
|
1. Tangible assets |
230,000,000 |
863,000,000 |
|
- Historical costs |
331,000,000 |
959,000,000 |
|
- Accumulated depreciation |
-101,000,000 |
-96,000,000 |
|
2. Financial leasehold assets |
0 |
0 |
|
- Historical costs |
0 |
0 |
|
- Accumulated depreciation |
0 |
0 |
|
3. Intangible assets |
0 |
0 |
|
- Initial costs |
0 |
0 |
|
- Accumulated amortization |
0 |
0 |
|
4. Construction-in-progress |
0 |
0 |
|
III. Investment
property |
0 |
0 |
|
Historical costs |
0 |
0 |
|
Accumulated depreciation |
0 |
0 |
|
IV. Long-term
investments |
0 |
0 |
|
1. Investments in affiliates |
0 |
0 |
|
2. Investments in business concerns and joint ventures |
0 |
0 |
|
3. Other long-term investments |
0 |
0 |
|
4. Provisions for devaluation of long-term investments |
0 |
0 |
|
V. Other
long-term assets |
0 |
0 |
|
1. Long-term prepaid expenses |
0 |
0 |
|
2. Deferred income tax assets |
0 |
0 |
|
3. Other long-term assets |
0 |
0 |
|
TOTAL ASSETS |
4,930,000,000 |
1,970,000,000 |
|
|
||
|
LIABILITIES |
||
|
A- LIABILITIES |
2,989,000,000 |
83,000,000 |
|
I. Current
liabilities |
2,989,000,000 |
83,000,000 |
|
1. Short-term debts and loans |
2,400,000,000 |
0 |
|
2. Payable to suppliers |
0 |
0 |
|
3. Advances from customers |
103,000,000 |
83,000,000 |
|
4. Taxes and other obligations to the State Budget |
0 |
0 |
|
5. Payable to employees |
0 |
0 |
|
6. Accrued expenses |
0 |
0 |
|
7. Inter-company payable |
0 |
0 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
|
9. Other payable |
486,000,000 |
0 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
|
II. Long-Term
Liabilities |
0 |
0 |
|
1. Long-term accounts payable to suppliers |
0 |
0 |
|
2. Long-term inter-company payable |
0 |
0 |
|
3. Other long-term payable |
0 |
0 |
|
4. Long-term debts and loans |
0 |
0 |
|
5. Deferred income tax payable |
0 |
0 |
|
6. Provisions for unemployment allowances |
0 |
0 |
|
7. Provisions for long-term accounts payable |
0 |
0 |
|
B- OWNER’S
EQUITY |
1,941,000,000 |
1,887,000,000 |
|
I. OWNER’S
EQUITY |
1,941,000,000 |
1,887,000,000 |
|
1. Capital |
2,000,000,000 |
2,000,000,000 |
|
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 |
0 |
0 |
|
8. Financial reserved fund |
0 |
0 |
|
9. Other funds |
0 |
0 |
|
10. Retained earnings |
-59,000,000 |
-113,000,000 |
|
11. Construction investment fund |
0 |
0 |
|
II. Other
sources and funds |
0 |
0 |
|
1. Bonus and welfare funds |
0 |
0 |
|
2. Sources of expenditure |
0 |
0 |
|
3. Fund to form fixed assets |
0 |
0 |
|
MINORITY’S
INTEREST |
0 |
0 |
|
TOTAL LIABILITIES
AND OWNER’S EQUITY |
4,930,000,000 |
1,970,000,000 |
|
PROFIT
& LOSS STATEMENT |
||
|
|
||
|
Description |
FY2009 |
FY2008 |
|
1. Total Sale |
7,786,000,000 |
2,300,000,000 |
|
2. Deduction item |
0 |
0 |
|
3. Net sale |
7,786,000,000 |
2,300,000,000 |
|
4. Costs of goods sold |
7,308,000,000 |
2,183,000,000 |
|
5. Gross profit |
478,000,000 |
117,000,000 |
|
6. Financial income |
4,000,000 |
3,000,000 |
|
7. Financial expenses |
27,000,000 |
0 |
|
- In which: Loan interest expenses |
0 |
0 |
|
8. Selling expenses |
64,000,000 |
30,000,000 |
|
9. Administrative overheads |
259,000,000 |
203,000,000 |
|
10. Net operating profit |
132,000,000 |
-113,000,000 |
|
11. Other income |
496,000,000 |
0 |
|
12. Other expenses |
573,000,000 |
0 |
|
13. Other profit /(loss) |
-77,000,000 |
0 |
|
14. Total accounting profit before tax |
55,000,000 |
-113,000,000 |
|
15. Current corporate income tax |
0 |
0 |
|
16. Deferred corporate income tax |
0 |
0 |
|
18. Profit after tax |
55,000,000 |
-113,000,000 |
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
|||
|
|
|||
|
Description |
FY2009 |
FY2008 |
Average Industry |
|
Current liquidity ratio |
1.57 |
13.34 |
1.94 |
|
Quick liquidity ratio |
0.64 |
8.60 |
0.98 |
|
Inventory circle |
2.62 |
5.55 |
9.29 |
|
Average receive period |
64.65 |
0.00 |
54.01 |
|
Utilizing asset performance |
1.58 |
1.17 |
2.21 |
|
Liability by total asset |
60.63 |
4.21 |
58.72 |
|
Liability by owner equity |
153.99 |
4.40 |
256.76 |
|
Ebit / Total asset (ROA) |
1.12 |
-5.74 |
7.90 |
|
Ebit / Owner's equity (ROE) |
2.83 |
-5.99 |
25.68 |
|
Ebit / Total sale (NPM) |
0.71 |
-4.91 |
4.18 |
|
Gross profit / Total sale (GPM) |
6.14 |
5.09 |
15.30 |
|
Note: The Average Industry was calculated by Vietnam Credit based on our
owned statistical data |
|||
PAYMENT HISTORY & PERFORMANCE
EXPERIENCES
|
Trade Morality |
|
Normal |
|
Liquidity |
|
Medium |
|
Payment status |
|
Average |
|
Financial Situation |
|
Average |
|
Development trend |
|
Developing |
|
Litigation data |
|
No |
|
Bankruptcy |
|
No |
|
Sale Methods |
|
Retailer and Wholesaler |
|
Payment methods |
|
D/P |
|
Public opinion |
|
N/A |
|
CREDIT INQUIRY: 125,000 USD Against D/A in temrs |
|
This credit inquiry is big for the subject. Caution needed! |
INTERPRETATION ON THE SCORES
|
NGU LONG TRADING &
SERVICE CO., LTD was
established in February 2008. It was reissued new business registration No.
0305491289 in 2010. Its head office is at No.131 Bau Cat Street, Ward 12 -
Tan Binh District - Ho Chi Minh City - Vietnam The
subject specializes in importing and trading veterinary products, especially
products for aquaculture. It imports veterinary products
from China, Thailand and EU. Main operation market of subject is Hochiminh
city and neighbor provinces. Premises
and facilities of the subject are normal. Animal feed and veterinary are a
profitability fields in Vietnam nowadays but competition in this field is so
hard. Advantage of this company is that it has good relation with key
suppliers. The subject’s owner has experiences in this field. Its management
capacity is normal. In
general, the subject is a small young company, its market share is still
humble. Its position in industry is small. Its financial situation is normal.
The subject has capacity to meet 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 |
||||||
|
|
||||||
|
|
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.44.79 |
|
UK Pound |
1 |
Rs.73.19 |
|
Euro |
1 |
Rs.63.59 |
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.