MIRA INFORM REPORT

 

 

Report Date :

31.10.2011

 

IDENTIFICATION DETAILS

 

Name :

PHU THINH IMPORT – EXPORT AND PRODUCTION JOINT STOCK COMPANY

 

 

Registered Office :

Room 201, A1 Bulding, No. 229 Pho Vong Street - Hai Ba Trung District - Ha Noi City

 

 

Country :

Vietnam

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

19.12.2006

 

 

Com. Reg. No.:

0103015085

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Specializing in trading fertilizer, medical herbs, tea, spices, agricultural product, chemical..

 

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 – December 31, 2010

 

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

Viet Nam

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

 

PHU THINH IMPORT – EXPORT AND PRODUCTION JOINT STOCK COMPANY

Vietnamese Name

 

CONG TY CO PHAN SAN XUAT VA XUAT NHAP KHAU PHU THINH

Trade name

 

PHU THINH IMPORT ., JSC

Type of Business

 

Joint stock company

Year Established

 

2006

Business Registration No.

 

0103015085

Date of Registration

 

19 Dec 2006

Place of Registration

 

Planning and Investment Department of Hanoi City

Current registered capital

 

6,000,000,000 VND

Status

 

Unlisted

Tax code

 

0102114870

Total Employees

 

20

Size

 

Small

 

Historical Identification & Legal form

 

List

Changed Items

Date of changes

1

Subject has got former Registered capital: 1,000,000,000 VND

Changed to: 6,000,000,000 VND

02 Oct 2008

 

 

ADDRESSES

 

Head Office

Address

 

Room 201, A1 Bulding, No. 229 Pho Vong Street - Hai Ba Trung District - Ha Noi City - Vietnam

Telephone

 

(84-4)39744627

Fax

 

(84-4)39744626

Email

 

business@phuthinhjsc.vn

Website

 

http://phuthinhjsc.com.vn

 

Registration Address

Address

 

110 Goc De Alley - Hoang Van Thu Ward - Hai Ba Trung District - Ha Noi City - Vietnam

Telephone

 

(84-4) 36363886

Fax

 

(84-4) 6367321

 

 

DIRECTORS

 

1 . NAME

 

Mr. NGUYEN QUOC TUY

Position

 

Chairman

Date of Birth

 

10 Sep 1972

ID Number/Passport

 

012487862

Resident

 

95 Van Don - Bach Dang Ward - Hai Ba Trung District - Ha Noi City - Vietnam

Nationality

 

Vietnamese

 

2 . NAME

 

Mr. NGUYEN THANH TRUNG

Position

 

Director

ID Number/Passport

 

012010109

Resident

 

41A Branch 6/51 - Dang Van Ngu - Trung Tu Ward - Dong Da District - Ha Noi City - Vietnam

Nationality

 

Vietnamese

 

3 . NAME

 

Ms. NGUYEN HONG LOAN

Position

 

Chief Accountant

Nationality

 

Vietnamese

 

 

BUSINESS NATURE AND ACTIVITIES

 

The subject is specializing in trading fertilizer, medical herbs, tea, spices, agricultural product, chemical...

 

 

 

IMPORT & EXPORT ACTIVITIES

 

IMPORT:

·         Market

 

India, China

 

EXPORT: The subject distributes in domestic

 

 

BANKERS

 

1. VIET NAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE HAI BA TRUNG BRANCH

Address

 

No.285 Tran Khat Chan str - Hai Ba Trung District - Ha Noi City - Vietnam

Telephone

 

(84-4) 39718251

 

2. PETROLIMEX COMMERCIAL JOINT STOCK BANK GIA LAM BRANCH

Address

 

No.552 Nguyen Van Cu Str - Long Bien District - Ha Noi City - Vietnam

Telephone

 

(84-4) 3872 7158

Fax

 

(84-4) 3872 7159

 

3. VIETNAM TECHNOLOGICAL AND COMMERCIAL JOINT STOCK BANK THANG LONG BRANCH

Address

 

No. 193 C3 Ba Trieu Str - Hai Ba Trung District - Ha Noi City - Vietnam

Telephone

 

(84-4) 3976 0055

Fax

 

(84-4) 3976 0057

 

 

SHAREHOLDERS

 

1 . NAME

 

Mr. NGUYEN QUOC TUY

Position

 

Chairman

Date of Birth

 

10 Sep 1972

ID Number/Passport

 

012487862

Issued on

 

11 Mar 2002

Issued Place

 

Hanoi Police Station

Resident

 

95 Van Don - Bach Dang Ward - Hai Ba Trung District - Ha Noi City - Vietnam

Nationality

 

Vietnamese

Number of Shares

 

59,000

Value of shares

 

5,900,000,000 VND

Percentage

 

98.33%

 

2 . NAME

 

Ms. NGUYEN THI NGOC TUYEN

ID Number/Passport

 

012733412

Resident

 

110 Goc De Alley - Minh Khai - Hoang Van Thu Ward - Hoang Mai District - Ha Noi City - Vietnam

Mobile phone

 

+84 989188764

Nationality

 

VIETNAMESE

Number of Shares

 

500

Value of shares

 

50,000,000 VND

Percentage

 

0.83%

 

3 . NAME

 

Mr. NGUYEN THANH TRUNG

Position

 

Director

ID Number/Passport

 

012010109

Resident

 

41A Branch 6/51 - Dang Van Ngu - Trung Tu Ward - Dong Da District - Ha Noi City - Vietnam

Nationality

 

Vietnamese

Number of Shares

 

500

Value of shares

 

50,000,000 VND

Percentage

 

0.83%

 

 

FINANCIAL HIGHLIGHT

 

BALANCE SHEET

Unit: Million VND

Balance sheet date

31/12/2009

Number of weeks

52

ASSETS

A. Current Asset

68,551

Receivables

40,062

Inventory

25,073

Cash and other current assets

3,416

B. Long term Asset

3,987

1. Long term account receivable

0

2. Fixed assets

3,987

Tangible fixed assets

3,987

+ Original cost

4,157

+ Accumulated depreciation value

170

Financial leasehold assets

 

Intangible fixed assets

 

Construction in progress and other long term asset

 

TOTAL ASSETS

72,538

 

LIABILITIES

Payable loans

53,647

Owner’s Equity

18,891

TOTAL LIABILITY AND EQUITY

72,538

 

PROFIT & LOSS STATEMENT

 

1. Total Sale

367,616

2. Deduction item

0

3. Net revenue

367,616

4. Costs of goods sold

268,339

5. Gross profit

99,277

6. Financial income

35

7. Financial expenses

7,086

8. Selling expenses and Administrative overheads

70,641

9. Net operating profit

21,585

10. Other income

2,015

11. Other expenses

2,299

12. Other profit /(loss)

-284

13. Total accounting profit before tax

21,301

14. Current corporate income tax

4,491

15. Deferred corporate income tax

 

16. Interest from subsidiaries/related companies

 

17. Profit after tax

16,810

 

 

PAYMENT HISTORY & PERFORMANCE EXPERIENCES

 

Trade Morality

 

Normal

Liquidity

 

N/A

Payment status

 

N/A

Financial Situation

 

Above Average

Development trend

 

N/A

Litigation data

 

No Record

Bankruptcy

 

No Record

Payment Methods

 

L/C, TT,DA

Sale Methods

 

Retailer and Wholesaler

Public opinion

 

Normal

 

 

 

INTERPRETATION ON THE SCORES

 

The subject was established in 2006 under business registration No. 0103015085 with registered capital VND 1 billion issued by Planning and Investment Department of Ha Noi city. In 2008, the subject increased registered capital into VND 6 billion. It has got about 20 employees.

The subject has registration address at No. 110 Goc De Alley, Minh Khai Street, Hoang Van Thu Ward, Hoang Mai District, Ha Noi city. Head office of subject is located in Room 201, A1 Bulding, No. 229 Pho Vong Street, Hai Ba Trung District, Ha Noi City.

The subject is specializing in trading fertilizer, medical herbs, tea, spices, agricultural product, chemical... The subject import kinds of products from China and India. Formerly, it also exports to India and EU but currently, it doesn’t export. 

The subject founded in 2006 and started operation in 2007 but business result was bright. According financial data in 2009, total sale was VND 367,616 million and profit after tax reached VND 16,810. Ms. Tuyen – accountant of the subject said: result business of the subject in 2010 was better than 2009. Total asset, total sale and profit after tax increased compare with 2009.

In general, the subject is small company. Developments in the future seem bright. Cautions necessary with medium and big 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.48.82

UK Pound

1

Rs.78.57

Euro

1

Rs.69.28

 

 

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.