MIRA INFORM REPORT
|
Report Date : |
29.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
TAN LONG CHEMICAL INDUSTRY JOINT STOCK
COMPANY |
|
|
|
|
Registered Office : |
Room 810 - 18T2 Building - Trung Hoa Nhan Chinh
Tenement - Nhan Chinh Ward, Thanh Xuan District, Ha Noi City |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
30.06.2011 |
|
|
|
|
Year of Establishment : |
2004 |
|
|
|
|
Com. Reg. No.: |
0100978593 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Sales and trading industrial chemical, agriculture products and related products |
|
|
|
|
No. of Employees
: |
80 Persons |
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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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 |
|
TAN LONG CHEMICAL INDUSTRY JOINT STOCK
COMPANY |
|
Vietnamese Name |
|
CONG TY CO PHAN HOA CHAT CONG NGHIEP TAN
LONG |
|
Short name |
|
TAN LONG CHEIN., JSC |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
2004 |
|
Business Registration No. |
|
0100978593 |
|
Date of Registration |
|
08 Mar 2010 |
|
Place of Registration |
|
Planning and investment department of
Hanoi City |
|
Current registered capital |
|
VND 100,000,000,000 |
|
Status |
|
Unlisted |
|
Tax code |
|
0100978593 |
|
Total Employees |
|
About 80 |
Historical Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Registered capital:
30,000,000,000 VND Changed to: 45,000,000,000 VND. At present, its registered
capital was increased to 100,000,000,000 VND |
07
Dec 2010 |
|
2 |
Subject has got former Address: Unit 411 -
18T2 Building - Trung Hoa Tenement - Nhan Chinh Ward - Thanh Xuan District -
Ha Noi City – Vietnam Changed to: No. 1 N7A - Nguyen Thi Thap
Str. - Trung Hoa Nhan Chinh Tenement - Nhan Chinh Ward - Thanh Xuan Dist. -
Ha Noi City |
01
Jun 2010 |
|
3 |
Subject has got former Business
Registration No: 0103014919 Date of Registration on 08 Dec 2006 Changed to: Business code No. 0100978593 |
08
Mar 2010 |
|
4 |
Subject has got former Registered English
Name: TAN LONG VAN COMPANY LIMITED Changed to: TAN LONG CHEMICAL INDUSTRY
JOINT STOCK COMPANY |
08
Dec 2006 |
|
5 |
Subject has got former Registered
Vietnamese Name: CONG TY TNHH TAN LONG VAN Changed to: CONG TY CO PHAN HOA CHAT CONG
NGHIEP TAN LONG |
08
Dec 2006 |
|
6 |
Subject has got former Trade Name: TAN
LONG VAN CO., LTD Changed to: TAN LONG CHEIN., JSC |
08
Dec 2006 |
|
7 |
Subject has got former Type of Business:
Liability Limited Company Changed to: Joint Stock Company |
08
Dec 2006 |
company ADDRESSES
|
Head office |
||
|
Address |
|
Room 810 - 18T2 Building - Trung Hoa Nhan
Chinh Tenement - Nhan Chinh Ward, Thanh Xuan District, Ha Noi City, Vietnam |
|
Occupied Area |
|
120 sqm |
|
Notes: -
The exact address of the subject is above (18T2 Building, Trung Hoa Nhan
Chinh Tenement not 1812
Building, Trung Hoa Tenemant) -
This is also the private house of Mr. Truong Sy
Ba, subject's director. |
||
|
|
||
|
Transaction
office |
||
|
Address |
|
No. 1 N7A Nguyen Thi Thap Str. - Trung Hoa
Nhan Chinh Tenement - Nhan Chinh Ward, Thanh Xuan District, Ha Noi City,
Vietnam |
|
Telephone |
|
(84-4) 3555 8476 |
|
Fax |
|
(84-4) 3555 8476 |
|
Note: The subject registers its head office at
“Room 810 - 18T2 Building - Trung Hoa Nhan Chinh Tenement - Nhan Chinh Ward,
Thanh Xuan District, Ha Noi City, Vietnam” but almost transactions is
performed at this address. |
||
|
|
||
|
Representative
office in Quang Ninh |
||
|
Address |
|
Mong Cai District, Quang Ninh Province,
Vietnam |
|
|
||
|
Branch in Ho Chi
Minh |
||
|
Address |
|
No. 168 Dien Binh Phu Str. - ward 17, Binh
Thanh District, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 6294 9204 |
|
Fax |
|
(84-8) 6294 9205 |
|
Manager |
|
Mr. TRUONG SY QUANG |
|
Business code |
|
0100978593-005 |
|
|
||
|
Branch in Hai
Phong |
||
|
Address |
|
18/897 Ton Duc Thang Street - So Dau Ward,
Ngo Quyen District, Hai Phong City, Vietnam |
|
Telephone |
|
(84-31) 3552986 |
|
Fax |
|
(84-31) 3552986 |
|
Manager |
|
Mr. LUONG XUAN HAI |
|
|
||
|
Branch in Da
Nang |
||
|
Address |
|
247-249 Ngo Quyen Street, Son Tra
District, Da Nang City, Vietnam |
|
Telephone |
|
(84-511) 393 5381 |
|
Manager |
|
Mr. HOANG VAN CHIN |
|
|
||
|
Branch in Dong
Thap |
||
|
Address |
|
An Ninh Hamlet - Ven Song Hau Street -
Dinh An Commune, Lap Vo District, Dong Thap Province, Vietnam |
|
Tax code |
|
0100978593-006 |
DIRECTORS
|
1.
NAME |
|
Mr.
TRUONG SY BA |
|
Position |
|
Chairman & Director |
|
Date of Birth |
|
20 Oct 1967 |
|
ID Number/Passport |
|
B4230497 |
|
ID Issue Date |
|
16 Jul 2010 |
|
ID Issue Place |
|
Viet Nam Immigration
Department |
|
Resident |
|
Rm 810 - 18T2 Trung Hoa
- Nhan Chinh Urban Area - Nhan Chinh Ward, Thanh Xuan District, Ha Noi City,
Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
+84 91 323 3297 |
|
|
||
|
2.
NAME |
|
Mr.
NGUYEN THO ANH |
|
Position |
|
Director |
|
Date of Birth |
|
23 Mar 1982 |
|
ID Number/Passport |
|
B0607410 |
|
Resident |
|
Quarter 7 - Co Tiet
Commune, Tam Nong District, Phu Tho Province, Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
3.
NAME |
|
Mr.
TRAN VAN QUE |
|
Position |
|
Deputy Director |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
(84-4) 62811361 |
|
|
||
|
4.
NAME |
|
Ms.
VU THUY MAI |
|
Position |
|
Chief Accountant |
|
Resident |
|
Ha Noi City, Vietnam |
|
Nationality |
|
Vietnamese |
BUSINESS NATURE AND ACTIVITIES
The subject is specializing in sales and trading industrial chemical, agriculture products and related products.
IMPORT & EXPORT ACTIVITIES
|
IMPORT: |
||
|
·
Types of products |
|
Industrial chemical, agriculture products |
|
·
Market |
|
China, India, Ukraine , Malaysia and USA etc |
|
·
Mode of payment |
|
Through its bank, L/C, TT, D/P at sight |
|
|
||
|
EXPORT: |
||
|
·
Types of products |
|
Rice |
|
·
Market |
|
India and a number of Middle East countries (Bangladesh...) |
|
·
Mode of payment |
|
TT, LC |
BANKERS
|
1. VIE TNAM
MARITIME STOCK BANK (MARITIME BANK) |
||
|
Address |
|
44 Nguyen Du Str, Hai Ba Trung District, Ha Noi City, Vietnam |
|
Telephone |
|
(84-4) 3945 4496 |
|
Fax |
|
(84-4) 3942 0520 |
|
|
||
|
2.
VIET NAM BANK FOR AGRICULTURE AND RURAL DEVELOPMENT |
||
|
Address |
|
No.2 Lang Ha Street, Ba Dinh District, Ha Noi City, Vietnam |
|
Telephone |
|
(84-4) 37722771 |
|
Fax |
|
(84-4) 37722379 |
SHAREHOLDERS
Following is founding shareholders as in the subject’s
latest business registration
|
||
|
1.
NAME |
|
Mr.
TRUONG SY BA |
|
Position |
|
Chairman & Director |
|
Date of Birth |
|
20 Oct 1967 |
|
ID Number/Passport |
|
B4230497 |
|
Issued on |
|
16 Jul 2010 |
|
Issued Place |
|
Viet Nam Immigration Department |
|
Resident |
|
Rm 810 - 18T2 Trung Hoa - Nhan Chinh Urban
Area - Nhan Chinh Ward, Thanh Xuan District, Ha Noi City, Vietnam |
|
Mobile phone |
|
+84 91 323 3297 |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 92,000,000,000 |
|
Percentage |
|
92% |
|
|
||
|
2.
NAME |
|
Mr.
NGUYEN THO ANH |
|
Position |
|
Director |
|
Date of Birth |
|
23 Mar 1982 |
|
ID Number/Passport |
|
B0607410 |
|
Resident |
|
Quarter 7 Co Tiet Commune, Tam Nong
District, Phu Tho Province, Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 4,000,000,000 |
|
Percentage |
|
4% |
FINANCIAL DATA
Note: The financial data is not confirmed to be audited or not.
|
BALANCE
SHEET |
|||
Unit: One VND
|
|||
|
Balance sheet
date |
30/06/2011 |
31/12/2010 |
31/12/2009 |
|
Number of weeks |
26 |
52 |
52 |
|
ASSETS |
|||
|
A – CURRENT ASSETS
|
1,211,186,196,959
|
1,246,721,576,010
|
767,816,301,839 |
|
I. Cash and cash
equivalents |
34,234,906,238 |
58,374,209,473 |
90,008,981,284 |
|
1. Cash |
34,234,906,238 |
58,374,209,473 |
90,008,981,284 |
|
2. Cash equivalents |
0 |
0 |
0 |
|
II. Short-term
investments |
21,967,160,000 |
20,347,160,000 |
0 |
|
1. Short-term investments |
21,967,160,000 |
20,347,160,000 |
0 |
|
2. Provisions for devaluation of short-term investments |
0 |
0 |
0 |
|
III. Accounts
receivable |
388,383,130,495 |
514,772,205,881 |
407,268,043,629 |
|
1. Receivable from customers |
265,001,126,020 |
345,274,925,885 |
384,859,307,688 |
|
2. Prepayments to suppliers |
101,897,143,906 |
162,646,620,056 |
19,890,385,348 |
|
3. Inter-company receivable |
0 |
|
0 |
|
4. Receivable according to the progress of construction |
0 |
|
0 |
|
5. Other receivable |
21,484,860,569 |
6,850,659,940 |
2,518,350,593 |
|
6. Provisions for bad debts |
0 |
|
0 |
|
IV. Inventories |
734,277,106,837 |
649,018,801,457 |
270,539,276,926 |
|
1. Inventories |
734,277,106,837 |
649,018,801,457 |
270,539,276,926 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
0 |
|
V. Other Current
Assets |
32,323,893,389 |
4,209,199,199 |
0 |
|
1. Short-term prepaid expenses |
0 |
85,590,466 |
0 |
|
2. VAT to be deducted |
8,450,517,294 |
0 |
0 |
|
3. Taxes and other accounts receivable from the State |
0 |
3,271,840,096 |
0 |
|
4. Other current assets |
23,873,376,095 |
851,768,637 |
0 |
|
B. LONG-TERM
ASSETS |
134,871,263,991 |
62,738,247,847 |
26,044,804,087 |
|
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
|
92,840,101,477 |
20,707,085,333 |
5,005,335,862 |
|
1. Tangible assets |
6,203,098,511 |
5,310,616,352 |
5,005,335,862 |
|
- Historical costs |
8,583,210,999 |
7,576,120,090 |
6,737,513,561 |
|
- Accumulated depreciation |
-2,380,112,488 |
-2,265,503,738 |
-1,732,177,699 |
|
2. Financial leasehold assets |
0 |
0 |
0 |
|
- Historical costs |
0 |
0 |
0 |
|
- Accumulated depreciation |
0 |
0 |
0 |
|
3. Intangible assets |
0 |
0 |
0 |
|
- Initial costs |
0 |
0 |
0 |
|
- Accumulated amortization |
0 |
0 |
0 |
|
4. Construction-in-progress |
86,637,002,966 |
15,396,468,981 |
0 |
|
III. Investment
property |
0 |
0 |
0 |
|
Historical costs |
0 |
0 |
0 |
|
Accumulated depreciation |
0 |
0 |
0 |
|
IV. Long-term
investments |
40,149,464,225 |
40,149,464,225 |
21,039,468,225 |
|
1. Investments in affiliates |
9,499,996,000 |
9,499,996,000 |
19,883,820,000 |
|
2. Investments in business concerns and joint ventures |
11,461,648,225 |
11,461,648,225 |
1,155,648,225 |
|
3. Other long-term investments |
19,187,820,000 |
19,187,820,000 |
0 |
|
4. Provisions for devaluation of long-term investments |
0 |
0 |
0 |
|
V. Other
long-term assets |
1,881,698,289 |
1,881,698,289 |
0 |
|
1. Long-term prepaid expenses |
1,881,698,289 |
1,881,698,289 |
0 |
|
2. Deferred income tax assets |
0 |
0 |
0 |
|
3. Other long-term assets |
0 |
0 |
0 |
|
VI. Goodwill |
0 |
0 |
|
|
1. Goodwill |
0 |
0 |
|
|
TOTAL ASSETS |
1,346,057,460,950
|
1,309,459,823,857
|
793,861,105,926 |
|
|
|||
|
LIABILITIES |
|||
|
A- LIABILITIES |
1,101,279,559,985
|
1,150,860,444,196
|
683,895,741,903 |
|
I. Current
liabilities |
1,099,610,559,985
|
1,148,851,444,196
|
683,895,741,903 |
|
1. Short-term debts and loans |
876,077,351,621 |
994,869,007,051 |
486,898,760,270 |
|
2. Payable to suppliers |
130,726,706,317 |
83,444,873,840 |
154,225,062,914 |
|
3. Advances from customers |
43,333,688,953 |
45,351,806,697 |
25,791,396,038 |
|
4. Taxes and other obligations to the State Budget |
16,567,052,459 |
22,077,231,365 |
8,079,137,781 |
|
5. Payable to employees |
0 |
0 |
0 |
|
6. Accrued expenses |
0 |
0 |
0 |
|
7. Inter-company payable |
21,484,860,589 |
0 |
2,903,512,314 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
0 |
|
9. Other payable |
11,420,900,046 |
3,108,525,243 |
5,997,872,586 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
0 |
|
II. Long-Term
Liabilities |
1,669,000,000 |
2,009,000,000 |
0 |
|
1. Long-term accounts payable to suppliers |
0 |
0 |
0 |
|
2. Long-term inter-company payable |
0 |
0 |
0 |
|
3. Other long-term payable |
|
0 |
0 |
|
4. Long-term debts and loans |
1,669,000,000 |
2,009,000,000 |
0 |
|
5. Deferred income tax payable |
0 |
0 |
0 |
|
6. Provisions for unemployment allowances |
0 |
0 |
0 |
|
7. Provisions for long-term accounts payable |
0 |
0 |
0 |
|
B- OWNER’S
EQUITY |
244,777,900,965 |
158,599,379,661 |
109,965,364,023 |
|
I. OWNER’S
EQUITY |
244,777,900,965 |
158,599,379,661 |
109,965,364,023 |
|
1. Capital |
100,000,000,000 |
46,352,500,000 |
46,352,500,000 |
|
2. Share premiums |
0 |
0 |
0 |
|
3. Other sources of capital |
0 |
0 |
0 |
|
4. Treasury stocks |
0 |
0 |
0 |
|
5. Differences on asset revaluation |
0 |
0 |
0 |
|
6. Foreign exchange differences |
0 |
0 |
0 |
|
7. Business promotion fund |
0 |
0 |
0 |
|
8. Financial reserved fund |
0 |
0 |
0 |
|
9. Other funds |
0 |
0 |
0 |
|
10. Retained earnings |
144,777,900,965 |
112,246,879,661 |
63,612,864,023 |
|
11. Construction investment fund |
0 |
0 |
0 |
|
II. Other
sources and funds |
0 |
0 |
0 |
|
1. Bonus and welfare funds |
0 |
0 |
0 |
|
2. Sources of expenditure |
0 |
0 |
0 |
|
3. Fund to form fixed assets |
0 |
0 |
0 |
|
MINORITY’S
INTEREST |
0 |
0 |
0 |
|
TOTAL
LIABILITIES AND OWNER’S EQUITY |
1,346,057,460,950
|
1,309,459,823,857
|
793,861,105,926 |
|
PROFIT
& LOSS STATEMENT |
|||
|
|
|||
|
Description |
The first six months of FY2011 |
FY2010 |
FY2009 |
|
1. Total Sale |
1,706,697,252,665
|
3,294,619,959,975
|
2,257,598,824,872
|
|
2. Deduction item |
20,063,780 |
|
0 |
|
3. Net revenue |
1,706,677,188,885
|
3,294,619,959,975
|
2,257,598,824,872
|
|
4. Costs of goods sold |
1,544,828,333,373 |
3,010,058,372,616 |
2,010,816,560,354 |
|
5. Gross profit |
161,848,855,512 |
284,561,587,359 |
246,782,264,518 |
|
6. Financial income |
5,945,224,899 |
28,316,223,425 |
325,233,035 |
|
7. Financial expenses |
65,103,650,242 |
112,151,547,957 |
32,034,666,181 |
|
- In which: Loan interest expenses |
50,431,928,538 |
65,095,783,322 |
0 |
|
8. Selling expenses |
65,160,935,072 |
125,794,395,517 |
132,564,313,935 |
|
9. Administrative overheads |
4,234,266,106 |
8,173,987,959 |
19,516,639,562 |
|
10. Net operating profit |
33,295,228,991 |
66,757,879,351 |
62,991,877,875 |
|
11. Other income |
10,079,466,080 |
8,734,127,182 |
0 |
|
12. Other expenses |
0 |
7,267,834,645 |
4,412,855,724 |
|
13. Other profit /(loss) |
10,079,466,080 |
1,466,292,537 |
-4,412,855,724 |
|
14. Total accounting profit before tax |
43,374,695,071 |
68,224,171,888 |
58,579,022,151 |
|
15. Current corporate income tax |
0 |
14,177,159,324 |
371,555,206 |
|
16. Deferred corporate income tax |
0 |
0 |
0 |
|
17. Interest from subsidiaries/related companies |
0 |
0 |
|
|
18. Profit after tax |
32,531,021,304 |
54,047,012,564 |
58,207,466,945 |
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||||
|
|
||||
|
Description |
The first six
months of FY2011 |
FY2010 |
FY2009 |
Average Industry |
|
Current liquidity ratio |
1.10 |
1.09 |
1.12 |
1.45 |
|
Quick liquidity ratio |
0.43 |
0.52 |
0.73 |
0.87 |
|
Inventory circle |
2.23 |
4.64 |
7.43 |
7.48 |
|
Average receive period |
83.06 |
57.03 |
65.85 |
64.15 |
|
Utilizing asset performance |
1.27 |
2.52 |
2.84 |
2.38 |
|
Liability by total asset |
81.82 |
87.89 |
86.15 |
69.14 |
|
Liability by owner equity |
449.91 |
725.64 |
621.92 |
281.46 |
|
Ebit / Total asset (ROA) |
6.97 |
10.18 |
7.38 |
10.33 |
|
Ebit / Owner's equity (ROE) |
38.32 |
84.06 |
53.27 |
35.61 |
|
Ebit / Total revenue (NPM) |
5.50 |
4.05 |
2.59 |
4.71 |
|
Gross profit / Total revenue (GPM) |
9.48 |
8.64 |
10.93 |
15.43 |
|
Note: The Average Industry was calculated by Vietnam Credit based on our
owned statistical data |
||||
PAYMENT HISTORY & PERFORMANCE
EXPERIENCES
|
Trade Morality |
|
Fair |
|
Liquidity |
|
Medium |
|
Payment status |
|
Average |
|
Financial Situation |
|
Above Average |
|
Development trend |
|
Positive |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
Through its bank, L/C, TT, D/P at sight |
|
Sale Methods |
|
Retailer and Wholesaler |
INTERPRETATION ON THE SCORES
|
Established
in 2004 as a limited liability company, but up to 2006, the subject equitized
to become joint stock company with name TAN LONG CHEMICAL INDUSTRY JOINT STOCK
COMPANY. Currently, the subject operates under the business registration No.
0100978593, same to the tax code, granted by Hanoi Department of Planning and
Investment with registered capital of VND 100 billion. The subject
is specializing in sales and trading industrial chemical, agriculture
products and related products. Its head office is registered at Unit 810 -
18T2 Building Trung Hoa Nhan Chinh Tenement - Nhan Chinh Ward - Thanh Xuan
District - Ha Noi City - Vietnam. However, most of transactions are made in
No. 1 N7A Nguyen Thi Thap Street - Trung Hoa Nhan Chinh Tenement - Nhan Chinh
Ward - Thanh Xuan District - Ha Noi City. Besides, it also has one
representative office and some branches in other provinces and cities, in
which, branch in Hochiminh city is the best business operation branch; it
imports directly goods from India, USA, then distributes for South area of
Viet Nam. Beside, this branch is planning export some agriculture products
(rice) to Middle East countries such as Bangladesh etc. Its management
capability is acceptable. It is trying its best to compete and develop well
in the industry. Financially,
based on the above financial data, we can see that, compared with 2009, in
2010, total assets and total sales all increased, total assets increased 65%,
total sales increased 46%. It showed us that the subject was developing
quickly, however total liabilities raised 68.3%, it mean the subject was
using more debt in total capital sources, and it is risk in current economy
in Vietnam, but if good management, the subject will increase ROE(return on
equity). Total
sales raised 46% but profit after tax was nearly unchanged (in comparison
with 2009) when costs of production all increased. The current liquidity
ratio in 2010 indicated that payment ability of subject is fairly positive
but was still under industrial ratio, it needs more improvement. In the
six month earlier 2011 the operation of the subject was fair when total
assets was equal with the number at the beginning of year, total sales and
profit after tax reached target. If favorable condition, the subject will
develop at the end of year. In
general the subject is medium scale company with many experiences in chemical
field. The trade mark is really good and financial situation is positive. It
has capacity to meet all small business commitments. |
APPENDIXES
|
INDUSTRY DATA |
||||||
|
|
||||||
|
Industry code |
Growth speed by
price compared with 1994 (%) |
Total
enterprises 2009 |
Total employees
2010 (Thous.pers.) |
Annual average
capital of enterprises 2009 (billion dongs) |
||
|
2010 |
2009 |
|||||
|
Agriculture,
Forestry and Fishing |
2.78 |
1.82 |
8,749 |
23,896.3 |
81,559 |
|
|
Industry and
Construction |
7.70 |
5.52 |
85,115 |
10,630 |
2,751,975 |
|
|
Trade and
Services |
7.52 |
6.63 |
154,978 |
14,522 |
4,939,069 |
|
|
|
||||||
|
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 |
72.2 |
57.1 |
62.7 |
|||
|
Imports |
84.8 |
69.9 |
80.7 |
|||
|
Trade Balance |
-12.6 |
-12.8 |
-18 |
|||
Source: General Statistics
Office
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.98 |
|
UK Pound |
1 |
Rs.80.59 |
|
Euro |
1 |
Rs.69.12 |
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.