MIRA INFORM REPORT
|
Report Date : |
04.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
ANH DUNG INVESTMENT, TRADING AND PRODUCTION
COMPANY LIMITED |
|
|
|
|
Registered Office : |
No.42 - 48 group Nghia Tan Ward - Cau Giay District - Ha Noi City |
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|
|
|
Country : |
Vietnam |
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|
|
|
Financials (as on) : |
31.12.2009 |
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|
|
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Date of Incorporation : |
28.12.2010 |
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|
|
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Com. Reg. No.: |
0101074738 |
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|
|
|
Legal Form : |
Limited Liability Company |
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|
|
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Line of Business : |
Producing and trading animals and poultry feeds |
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 |
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|
|
|
Payment
Behaviour : |
No Complaints |
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|
|
|
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 |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUBJECT IDENTIFICATION & LEGAL FORM
Current legal status
|
||
|
English Name |
|
ANH DUNG INVESTMENT, TRADING AND
PRODUCTION COMPANY LIMITED |
|
Vietnamese Name |
|
CONG TY TNHH SAN XUAT, THUONG MAI VA DAU
TU ANH DUNG |
|
Short name |
|
ADC VINA CO., LTD |
|
Type of Business |
|
Limited liability company |
|
Year Established |
|
2000 |
|
Business Registration No. |
|
0101074738 |
|
Date of Registration |
|
28 Dec 2010 |
|
Place of Registration |
|
Hanoi Authority for Planning and
Investment |
|
Current registered capital |
|
10,500,000,000 VND |
|
Status |
|
Unlisted |
|
Tax code |
|
0101074738 |
|
Total Employees |
|
130 |
|
Size |
|
Medium |
Note: The
given name “ANH DUNG INVESTMENT TRADING AND PRODUCTION CO LTD” is incorrect.
Historical Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Business
Registration No: 0102001284 Changed to: 0101074738 |
28
Dec 2010 |
|
2 |
Subject has got former Address: No. 42 -
Tan Do Alley - Nghia Tan Ward - Cau Giay District - Ha Noi City - Vietnam
Changed to: No. 42 - 48 Group - Nghia Tan Ward - Cau Giay District - Ha Noi
City - Vietnam |
2008
|
company ADDRESSES
|
Head Office |
||
|
Address |
|
No.42 - 48 group Nghia Tan Ward - Cau Giay
District - Ha Noi City - Vietnam |
|
Telephone |
|
(84-4) 3288 9999 |
|
Fax |
|
(84-4) 3233 6666 |
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Email |
|
|
|
Website |
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|
|
|
||
|
Factory Address |
||
|
Address |
|
Lot 1 CN1 Ngoc Hoi Industrial Zone - Thanh
Tri District - Ha Noi City - Vietnam |
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Telephone |
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(84-4) 3689 2346/ 3689 2344 |
|
Fax |
|
(84-4) 3683 0126 |
DIRECTORS
|
1.
NAME |
|
Mr.
VO VIET DUNG |
|
Position |
|
Director |
|
Resident |
|
No. 42, Group 48,
Nghia Tan ward - Cau Giay District - Ha Noi City - Vietnam |
|
Current resident |
|
No. 42, Group 41, Nghia Tan ward - Cau
Giay District - Ha Noi City - Vietnam |
|
Nationality |
|
Vietnamese |
BUSINESS NATURE AND ACTIVITIES
- Producing and trading animals and poultry feeds
IMPORT & EXPORT ACTIVITIES
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IMPORT: |
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|
·
Types of products |
|
Raw materials, animals and poultry feeds |
|
·
Market |
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India, China, USA, Ukraine |
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·
Mode of payment |
|
L/C, D/P |
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|
||
|
EXPORT: |
||
|
·
Types of products |
|
N/A |
BANKERS
|
1.
MILITARY COMMERCIAL JOINT STOCK BANK TAY HO BRANCH |
||
|
Address |
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No.665 Lac Long Quan Street - Tay Ho District - Ha Noi City - Vietnam |
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Telephone |
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(84-4) 3758 2082 |
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Fax |
|
(84-4) 3758 2084 |
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VND Account |
|
0041100213007 |
SHAREHOLDERS
|
1.
NAME |
|
Mr.
VO VIET DUNG |
|
Position |
|
Director |
|
Resident |
|
No. 42, Group 48, Nghia Tan ward - Cau
Giay District - Ha Noi City - Vietnam |
|
Current Resident |
|
No. 42, Group 41, Nghia Tan ward - Cau
Giay District - Ha Noi City - Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
10,080,000,000 VND |
|
Percentage |
|
96% |
|
|
||
|
2.
NAME |
|
Ms.
VUONG THI DET |
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ID Number/Passport |
|
111079794 |
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Resident |
|
Construction Technical College No. 1
Collective Van Mo Hamlet - Ha Dong District - Ha Noi City - Vietnam |
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Nationality |
|
Vietnam |
|
Value of shares |
|
420,000,000 VND |
|
Percentage |
|
4% |
FINANCIAL DATA
|
BALANCE
SHEET |
|
Unit: One VND
|
|
|
Balance sheet
date |
31/12/2009 |
|
Number of weeks |
52 |
|
ASSETS |
|
|
A – CURRENT
ASSETS |
31,956,955,730
|
|
I. Cash and cash
equivalents |
2,828,305,595
|
|
1. Cash |
1,024,653,236 |
|
2. Cash equivalents |
1,803,652,359 |
|
II. Short-term
investments |
0 |
|
1. Short-term investments |
0 |
|
2. Provisions for devaluation of short-term investments |
0 |
|
III. Accounts
receivable |
10,239,330,709
|
|
1. Receivable from customers |
4,985,678,353 |
|
2. Prepayments to suppliers |
5,253,652,356 |
|
3. Inter-company receivable |
0 |
|
4. Receivable according to the progress of construction |
0 |
|
5. Other receivable |
0 |
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6. Provisions for bad debts |
0 |
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IV. Inventories |
16,240,638,394
|
|
1. Inventories |
16,240,638,394 |
|
2. Provisions for devaluation of inventories |
0 |
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V. Other Current
Assets |
2,648,681,032
|
|
1. Short-term prepaid expenses |
905,368,965 |
|
2. VAT to be deducted |
1,153,658,943 |
|
3. Taxes and other accounts receivable from the State |
0 |
|
4. Other current assets |
589,653,124 |
|
B. LONG-TERM
ASSETS |
20,809,484,510
|
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I. Long term
account receivable |
0 |
|
1. Long term account receivable from customers |
0 |
|
2. Working capital in affiliates |
0 |
|
3. Long-term inter-company receivable |
0 |
|
4. Other long-term receivable |
0 |
|
5. Provisions for bad debts from customers |
0 |
|
II. Fixed assets
|
20,809,484,510
|
|
1. Tangible assets |
19,546,228,265 |
|
- Historical costs |
24,558,594,159 |
|
- Accumulated depreciation |
-5,012,365,894 |
|
2. Financial leasehold assets |
0 |
|
- Historical costs |
0 |
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- Accumulated depreciation |
0 |
|
3. Intangible assets |
0 |
|
- Initial costs |
0 |
|
- Accumulated amortization |
0 |
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4. Construction-in-progress |
1,263,256,245 |
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III. Investment
property |
0 |
|
Historical costs |
0 |
|
Accumulated depreciation |
0 |
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IV. Long-term
investments |
0 |
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1. Investments in affiliates |
0 |
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2. Investments in business concerns and joint ventures |
0 |
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3. Other long-term investments |
0 |
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4. Provisions for devaluation of long-term investments |
0 |
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V. Other
long-term assets |
0 |
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1. Long-term prepaid expenses |
0 |
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2. Deferred income tax assets |
0 |
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3. Other long-term assets |
0 |
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VI. Goodwill |
0 |
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1. Goodwill |
0 |
|
TOTAL ASSETS |
52,766,440,240
|
|
|
|
|
LIABILITIES |
|
|
A- LIABILITIES |
25,556,599,136
|
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I. Current
liabilities |
16,576,540,220
|
|
1. Short-term debts and loans |
10,398,341,187 |
|
2. Payable to suppliers |
5,063,523,589 |
|
3. Advances from customers |
752,315,621 |
|
4. Taxes and other obligations to the State Budget |
0 |
|
5. Payable to employees |
0 |
|
6. Accrued expenses |
0 |
|
7. Inter-company payable |
0 |
|
8. Payable according to the progress of construction contracts |
0 |
|
9. Other payable |
362,359,823 |
|
10. Provisions for short-term accounts payable |
0 |
|
II. Long-Term
Liabilities |
8,980,058,916
|
|
1. Long-term accounts payable to suppliers |
0 |
|
2. Long-term inter-company payable |
0 |
|
3. Other long-term payable |
0 |
|
4. Long-term debts and loans |
8,980,058,916 |
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5. Deferred income tax payable |
0 |
|
6. Provisions for unemployment allowances |
0 |
|
7. Provisions for long-term accounts payable |
0 |
|
B- OWNER’S
EQUITY |
27,209,841,104
|
|
I. OWNER’S
EQUITY |
27,209,841,104
|
|
1. Capital |
10,500,000,000 |
|
2. Share premiums |
0 |
|
3. Other sources of capital |
0 |
|
4. Treasury stocks |
0 |
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5. Differences on asset revaluation |
0 |
|
6. Foreign exchange differences |
0 |
|
7. Business promotion fund |
0 |
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8. Financial reserved fund |
0 |
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9. Other funds |
0 |
|
10. Retained earnings |
16,709,841,104 |
|
11. Construction investment fund |
0 |
|
II. Other
sources and funds |
0 |
|
1. Bonus and welfare funds |
0 |
|
2. Sources of expenditure |
0 |
|
3. Fund to form fixed assets |
0 |
|
MINORITY’S
INTEREST |
0 |
|
TOTAL
LIABILITIES AND OWNER’S EQUITY |
52,766,440,240
|
|
PROFIT
& LOSS STATEMENT |
|
|
|
|
|
Description |
FY2009 |
|
1. Total Sale |
115,602,693,573
|
|
2. Deduction item |
0 |
|
3. Net sale |
115,602,693,573
|
|
4. Costs of goods sold |
97,825,988,705 |
|
5. Gross profit |
17,776,704,868
|
|
6. Financial income |
8,932,156,254 |
|
7. Financial expenses |
4,752,148,689 |
|
- In which: Loan interest expenses |
1,532,456,216 |
|
8. Selling expenses |
1,171,761,424 |
|
9. Administrative overheads |
6,052,705,248 |
|
10. Net operating profit |
14,732,245,761
|
|
11. Other income |
0 |
|
12. Other expenses |
0 |
|
13. Other profit /(loss) |
0 |
|
14. Total accounting profit before tax |
14,732,245,761
|
|
15. Current corporate income tax |
3,683,061,440 |
|
16. Deferred corporate income tax |
0 |
|
17. Interest from subsidiaries/related companies |
0 |
|
18. Profit after tax |
11,049,184,321
|
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
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|
|
||
|
Description |
FY2009 |
Average
Industry |
|
Current liquidity ratio |
1.93 |
1.47 |
|
Quick liquidity ratio |
0.95 |
0.70 |
|
Inventory circle |
6.02 |
8.31 |
|
Average receive period |
32.33 |
28.57 |
|
Utilizing asset performance |
2.19 |
2.64 |
|
Liability by total asset |
48.43 |
58.07 |
|
Liability by owner equity |
93.92 |
182.19 |
|
Ebit / Total asset (ROA) |
30.82 |
10.02 |
|
Ebit / Owner's equity (ROE) |
59.78 |
25.93 |
|
Ebit / Total sale (NPM) |
14.07 |
3.82 |
|
Gross profit / Total sale (GPM) |
15.38 |
8.54 |
|
Note: The Average Industry was calculated by Vietnam Credit
based on our owned statistical data |
||
PAYMENT HISTORY & PERFORMANCE
EXPERIENCES
|
Trade Morality |
|
Good |
|
Liquidity |
|
Medium |
|
Payment status |
|
Average |
|
Financial Situation |
|
Above Average |
|
Development trend |
|
Positive |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
L/C, D/P |
|
Sale Methods |
|
To contracts |
|
Public opinion |
|
Good |
|
CREDIT INQUIRY: 1,000,000 USD Against D/A interms |
|
Caution! |
INTERPRETATION ON THE SCORES
|
The subject was officially
established in 2000 under the name ANH DUNG INVESTMENT, TRADING AND
PRODUCTION COMPANY LIMITED. Its current charted capital is VND
10,500,000,000. The subject specialized in
producing and trading animals and poultry feeds. The subject mainly imports
from India, China, USA and Ukraine… and distributes widely in domestic. The premises of the subject are
fairly good. Its head office is located at No.42 - 48 group - Nghia Tan Ward
- Cau Giay District - Ha Noi City - Vietnam. Besides, its factory is at Lot 1
CN1 - Ngoc Hoi Industrial Zone - Thanh Tri District - Ha Noi City - Vietnam.
Currently, the subject has about 130 employees. Management capacity is
acceptable. According to the financial data,
we found that the subject has gained great financial effectiveness in 2009.
The effective business ratios in 2009 such as ROE, ROA, NPM and GPM were
higher than average industry because it has managed cost quite efficiently. The subject's self-financing
ability is very good. Debt ratios have been maintained low in 2009. Liability
ratio remained at 48.43% while average industry was 58.07%. Thus its capital
structure in 2009 is pretty safe and its self-financing ability is very
strong. The subject's liquidity was also very good, it was shown via Quick
and Current liquidity ratios were higher than average industry. This shows
that its capital structure was great stable In 2009, the subject’s utilizing
asset performance was lower than the average industry because inventory
rotation speed was slow and receives period was quite long. Therefore, its
operating was not really effective owing to its capital was congested much in
the sale process. In general, the subject is a
medium company in the industry. With its stable capital structure, fairly
profitability, it has capacity for normal payment 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 |
|
|
|
||||||
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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 |
|||
|
|
||||||
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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.45.90 |
|
UK Pound |
1 |
Rs.74.31 |
|
Euro |
1 |
Rs.65.41 |
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.