MIRA INFORM REPORT

 

 

Report Date :           

03.10.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

MAI LAM TRADING AND PRODUCTION COMPANY LIMITED 

 

 

Registered Office :

Khoan Te Village Da Ton commune - Gia Lam District - Ha Noi City

 

 

Country :

Vietnam

 

 

Financials (as on) :

31.12.2007

 

 

Date of Incorporation :

23.08.2010

 

 

Com. Reg. No.:

0101267497

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Trading in construction materials

 

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 :

Usually Correct 

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

 

Registered English Name

 

MAI LAM TRADING AND PRODUCTION COMPANY LIMITED

Registered Vietnamese Name

 

CONG TY TNHH SAN XUAT VA THUONG MAI MAI LAM

Registered Short name

 

LAMADO CO.,LTD

Year established

 

2002

Type of Business

 

Limited liability company

Business Registration No.

 

0101267497

Date of Registration

 

23 Aug 2010

Place of Registration

 

Hanoi Department of Planning and Investment

Current registered capital

 

7,000,000,000 VND

Status

 

Unlisted

Tax code

 

0101267497

Total Employees

 

15

 

 

Note: The given name MAILAM TRADING AND PRODUCTION CO LTD is not absolutely correct. The correct name of subject is mentioned above.

 

 

company ADDRESSES

 

Head Office

Address

 

Khoan Te Village Da Ton commune - Gia Lam District - Ha Noi City - Vietnam

Telephone

 

(84-4) 38740044

Fax

 

(84-4) 38742582

 

 

 

DIRECTORS

 

NAME

 

Mr. DO VAN LAM

Position

 

Director

ID Number/Passport

 

012516308

Current resident

 

Khoan Te village Da Ton commune - Gia Lam District - Ha Noi City - Vietnam

Nationality

 

Vietnamese

 

 

 

BUSINESS NATURE AND ACTIVITIES

 

The subject registered in the following field:

+ Trading in construction materials

+ Trading in ceramic products, handicraft products

+ Trading in consumption products

+ Transportation services.

 

 

 

IMPORT & EXPORT ACTIVITIES

 

IMPORT:

·         Types of products

 

N/a

 

EXPORT:

·         Types of products

 

N/a

 

 

 

BANKERS

 

JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM

Address

 

No. 198 Tran Quang Khai Street - Hoan Kiem District - Ha Noi City - Vietnam

Telephone

 

(84-4) 3934 3137 / (84-4) 3814 8919

Fax

 

(84-4) 3826 9067 / (84-4) 3825 1322

 

 

 

SHAREHOLDERS

 

1. NAME

 

Mr. DO VAN LAM

Position

 

Director

ID Number/Passport

 

012516308

Current Resident

 

Khoan Te village Da Ton commune - Gia Lam District - Ha Noi City - Vietnam

Nationality

 

Vietnamese

Value of shares

 

4,500,000,000 VND

Percentage

 

64.29%

 

2. NAME

 

Ms. NGUYEN THI MAI

ID Number/Passport

 

011619866

Current Resident

 

Khoan Te village Da Ton commune - Gia Lam District - Ha Noi City - Vietnam

Nationality

 

Vietnamese

Value of shares

 

1,500,000,000 VND

Percentage

 

21.43%

 

3. NAME

 

NGUYEN HAI AN

ID Number/Passport

 

011726463

Current Resident

 

Room 101 Lang Ha collective zone - Lang Ha ward - Dong Da District - Ha Noi City - Vietnam

Nationality

 

Vietnamese

Value of shares

 

1,000,000,000 VND

Percentage

 

14.29%

 

 

 

 

FINANCIAL HIGHLIGHT

 

BALANCE SHEET

Unit: Million VND

Balance sheet date

31/12/2007

Number of weeks

52

ASSETS

A. Current Asset

4,808

Receivables

898

Inventory

0

Cash and other current assets

3,910

B. Long term Asset

304

1. Long term account receivable

0

2. Fixed assets

304

Tangible fixed assets

304

+ Original cost

450

+ Accumulated depreciation value

146

Financial leasehold assets

0

Intangible fixed assets

0

Construction in progress and other long term asset

0

TOTAL ASSETS

5,112

LIABILITIES

Payable loans

4,498

Owner’s Equity

614

TOTAL LIABILITY AND EQUITY

5,112

 

PROFIT & LOSS STATEMENT

 

Total sale

11,881

Deductions Items

0

1. Net sale

11,881

2. Cost of goods sold and operation expense

11,830

3. Net income from business activities

51

Income from financial activities

4

Expenditure from financial activities

0

4. Net income from financial operation

4

Irregular income

0

Irregular expenditure

0

5. Irregular Profit

0

6. Total pre-tax profit

55

 

 

 

PAYMENT HISTORY & PERFORMANCE EXPERIENCES

 

Trade Morality

 

Normal

Liquidity

 

N/A

Payment status

 

N/A

Financial Situation

 

N/A

Development trend

 

N/A

Litigation data

 

No Record

Bankruptcy

 

No Record

Payment Methods

 

T/T

Sale Methods

 

Retailer

Public opinion

 

Limited

 

 

 

CREDIT INQUIRY: 125,000 USD, DA term

This credit seems fairly large to subject. A little caution needed for this transaction.

 

 

 

INTERPRETATION ON THE SCORES

 

Lamado Co.,Ltd is a small sized company. It was established in 2002 in suburb area of Hanoi city by a couple Mr. Do Van Lam and Mrs. Nguyen Thi Mai. With total registered capital of VND 7 billion now, the subject has had more than 8 years in the trading field.

Headquarter at Khoan Te village, Da Ton commune, Gia Lam District, Hanoi city, this is also the trading area and also the private address of subject’s director. It involves in trading field, including construction material and ceramic products. Subject revealed nothing about subject’s import market. In term of distribution market, the subject all provides for area of Hanoi city and mainly retails. The market share of subject is small and unremarkable and it also faces with competition from many other companies, both large and small sized company. Currently, subject’s position and trademark are humble. At the head office of subject now, there are around more than ten staffs.

In term of finance, although we found our sources for the financial data update but unreachable. The above figures of very old year 2007 showed that subject has normal financial status. It reached more than 11 billion dongs in total sales and only 55 million dong in profit for the year. These are humble result in comparison with other company in the same field.

In short, subject is a small sized company in the industry. Its future prospect is average. The subject is only suitable for small financial 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.48.93

UK Pound

1

Rs.76.52

Euro

1

Rs.66.65

 

 

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.