|
Report Date : |
17.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
TAN HAI TRIEU PRODUCTION AND TRADING SERVICES JOINT STOCK COMPANY |
|
|
|
|
Registered Office : |
No 21, Alley 28, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
16.04.2008 |
|
|
|
|
Com. Reg. No.: |
0103023896 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Trading food, materials for food production, functional foods |
|
|
|
|
No. of Employees : |
10 |
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
|
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 HAI TRIEU PRODUCTION AND TRADING
SERVICES JOINT STOCK COMPANY |
|
Vietnamese Name |
|
CONG TY CO PHAN SAN XUAT VA THUONG MAI
DICH VU TAN HAI TRIEU |
|
Short name |
|
THTI.,JSC |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
2008 |
|
Business Registration No. |
|
0103023896 |
|
Date of Registration |
|
16 Apr 2008 |
|
Place of Registration |
|
Hanoi Department of Planning and
Development |
|
Current registered capital |
|
VND 1,900,000,000 |
|
Status |
|
Unlisted |
|
Tax code |
|
0102723262 |
|
Total Employees |
|
10 |
|
Size |
|
Small |
Historical Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Address: Room 204,
Block E2 No. 128C Changed to: No. 21, Alley 28, |
04
May 2009 |
|
|
||
ADDRESSES
|
||
|
|
||
|
Head Office |
||
|
Address |
|
No 21, Alley 28, |
|
Telephone |
|
(84-4) 22461302 |
|
Fax |
|
(84-4) 39727606 |
|
Email |
|
|
|
Land-use Right |
|
Leased |
|
|
||
DIRECTORS
|
||
|
|
||
|
1.
NAME |
|
Mr.
LE ANH CHIEN |
|
Position |
|
Director |
|
Date of Birth |
|
11 Jun 1977 |
|
ID Number/Passport |
|
012980707 |
|
ID Issue Date |
|
08 Jun 2007 |
|
|
|
Hanoi Department of
Public Security |
|
Resident |
|
No. 21 Alley 28
Truong Dinh Ward, Hai Ba Trung District, Ha Noi City, Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
BUSINESS NATURE AND ACTIVITIES
|
|
|
|
-
Trading food, materials for food production, functional foods |
|
|
IMPORT & EXPORT ACTIVITIES
|
||
|
|
||
|
IMPORT: |
||
|
·
Types of products |
|
Food Ingredients, food materials |
|
·
Market |
|
|
|
·
Mode of payment |
|
TT, L/C |
|
|
||
|
EXPORT: |
||
|
Note: Currently, the subject does not export |
||
|
|
||
BANKERS
|
||
|
|
||
|
1.
|
||
|
Address |
|
No.70-72 Ba Trieu, Hoan Kiem District, Ha |
|
Telephone |
|
(84-4) 3944 6368 |
|
Fax |
|
(84-4) 3944 6362 |
|
|
||
|
2.
WESTERN COMMERCIAL JOINT STOCK BANK HA NOI BRANCH |
||
|
Address |
|
No.155 |
|
Telephone |
|
(84-4) 6278 3008 |
|
Fax |
|
(84-4) 3974 4033 |
|
|
||
|
3.
JOINT STOCK BANK FOR FOREIGN TRADE OF |
||
|
Address |
|
No 34 Hang Bai Ward, Hoan Kiem District, Ha |
|
Telephone |
|
(84-4) 39362089 |
|
|
||
SHAREHOLDERS
|
||
|
|
||
|
1.
NAME |
|
Mr.
NGUYEN ANH TUAN |
|
Resident |
|
No. 21 Alley 28 Truong Dinh Ward, Hai Ba Trung
District, Ha |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
114,000 |
|
Value of shares |
|
VND 1,140,000,000 |
|
Percentage |
|
60% |
|
|
||
|
2.
NAME |
|
Mr.
LE ANH CHIEN |
|
Position |
|
Director |
|
Date of Birth |
|
11 Jun 1977 |
|
ID Number/Passport |
|
012980707 |
|
Issued on |
|
08 Jun 2007 |
|
Issued Place |
|
Hanoi Department of Public Security |
|
Resident |
|
No. 21 Alley 28 Truong Dinh Ward, Hai Ba
Trung District, Ha |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
57,000 |
|
Value of shares |
|
VND 570,000,000 |
|
Percentage |
|
30% |
|
|
||
|
3.
NAME |
|
Mr.
NGUYEN THANH TUNG |
|
ID Number/Passport |
|
011896128 |
|
Issued Place |
|
Hanoi Department of Public Security |
|
Resident |
|
No. 21 Alley 28 Truong Dinh Ward, Hai Ba
Trung District, Ha |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
19,000 |
|
Value of shares |
|
VND 190,000,000 |
|
Percentage |
|
10% |
|
|
||
FINANCIAL DATA
|
|
|
|
|
|
BALANCE
SHEET |
|
Unit: One VND
|
|
|
Balance sheet
date |
31/12/2009 |
|
Number of weeks |
52 |
ASSETS
|
|
|
A – CURRENT
ASSETS |
2,541,000,000 |
|
I. Cash and cash
equivalents |
816,000,000 |
|
1. Cash |
816,000,000 |
|
2. Cash equivalents |
0 |
|
II. Short-term
investments |
0 |
|
1. Short-term investments |
0 |
|
2. Provisions for devaluation of short-term investments |
0 |
|
III. Accounts
receivable |
964,000,000 |
|
1. Receivable from customers |
485,000,000 |
|
2. Prepayments to suppliers |
479,000,000 |
|
3. Inter-company receivable |
0 |
|
4. Receivable according to the progress of construction |
0 |
|
5. Other receivable |
0 |
|
6. Provisions for bad debts |
0 |
|
IV. Inventories |
677,000,000 |
|
1. Inventories |
677,000,000 |
|
2. Provisions for devaluation of inventories |
0 |
|
V. Other Current
Assets |
84,000,000 |
|
1. Short-term prepaid expenses |
0 |
|
2. VAT to be deducted |
37,000,000 |
|
3. Taxes and other accounts receivable from the State |
0 |
|
4. Other current assets |
47,000,000 |
|
B. LONG-TERM
ASSETS |
26,000,000 |
|
I. Long term
accounts 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
|
20,000,000 |
|
1. Tangible assets |
20,000,000 |
|
- Historical costs |
31,000,000 |
|
- Accumulated depreciation |
-11,000,000 |
|
2. Financial leasehold assets |
0 |
|
- Historical costs |
0 |
|
- Accumulated depreciation |
0 |
|
3. Intangible assets |
0 |
|
- Initial costs |
0 |
|
- Accumulated amortization |
0 |
|
4. Construction-in-progress |
0 |
|
III. Investment
property |
0 |
|
Historical costs |
0 |
|
Accumulated depreciation |
0 |
|
IV. Long-term
investments |
0 |
|
1. Investments in affiliates |
0 |
|
2. Investments in business concerns and joint ventures |
0 |
|
3. Other long-term investments |
0 |
|
4. Provisions for devaluation of long-term investments |
0 |
|
V. Other
long-term assets |
6,000,000 |
|
1. Long-term prepaid expenses |
6,000,000 |
|
2. Deferred income tax assets |
0 |
|
3. Other long-term assets |
0 |
|
TOTAL ASSETS |
2,567,000,000 |
|
|
|
LIABILITIES
|
|
|
A- LIABILITIES |
68,000,000 |
|
I. Current
liabilities |
68,000,000 |
|
1. Short-term debts and loans |
0 |
|
2. Payable to suppliers |
0 |
|
3. Advances from customers |
0 |
|
4. Taxes and other obligations to the State Budget |
68,000,000 |
|
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 |
0 |
|
10. Provisions for short-term accounts payable |
0 |
|
II. Long-Term
Liabilities |
0 |
|
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 |
0 |
|
5. Deferred income tax payable |
0 |
|
6. Provisions for unemployment allowances |
0 |
|
7. Provisions for long-term accounts payable |
0 |
|
B- OWNER’S
EQUITY |
2,499,000,000 |
|
I. OWNER’S
EQUITY |
2,499,000,000 |
|
1. Capital |
1,900,000,000 |
|
2. Share premiums |
0 |
|
3. Other sources of capital |
0 |
|
4. Treasury stocks |
0 |
|
5. Differences on asset revaluation |
0 |
|
6. Foreign exchange differences |
0 |
|
7. Business promotion fund |
0 |
|
8. Financial reserved fund |
0 |
|
9. Other funds |
0 |
|
10. Retained earnings |
599,000,000 |
|
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 |
2,567,000,000 |
|
|
|
|
PROFIT
& LOSS STATEMENT |
|
|
|
|
|
Description |
FY2009 |
|
1. Total Sales |
2,721,000,000 |
|
2. Deduction item |
0 |
|
3. Net revenue |
2,721,000,000 |
|
4. Costs of goods sold |
1,501,000,000 |
|
5. Gross profit |
1,220,000,000 |
|
6. Financial income |
0 |
|
7. Financial expenses |
0 |
|
- In which: Loan interest expenses |
0 |
|
8. Selling expenses |
0 |
|
9. Administrative overheads |
435,000,000 |
|
10. Net operating profit |
785,000,000 |
|
11. Other income |
3,000,000 |
|
12. Other expenses |
0 |
|
13. Other profit /(loss) |
3,000,000 |
|
14. Total accounting profit before tax |
788,000,000 |
|
15. Current corporate income tax |
196,000,000 |
|
16. Deferred corporate income tax |
0 |
|
18. Profit after tax |
591,000,000 |
|
|
||
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||
|
|
||
|
Description |
FY2009 |
Average Industry |
|
Current liquidity ratio |
37.37 |
1.94 |
|
Quick liquidity ratio |
27.41 |
0.98 |
|
Inventory circle |
2.22 |
9.29 |
|
Average receive period |
129.31 |
54.01 |
|
Utilizing asset performance |
1.06 |
2.21 |
|
Liability by total assets |
2.65 |
58.72 |
|
Liability by owner's equity |
2.72 |
256.76 |
|
Ebit / Total assets (ROA) |
30.70 |
7.90 |
|
Ebit / Owner's equity (ROE) |
31.53 |
25.68 |
|
Ebit / Total revenue (NPM) |
28.96 |
4.18 |
|
Gross profit / Total revenue (GPM) |
44.84 |
15.30 |
|
Note: The Average Industry was calculated by VietnamCredit based on our own
statistical data |
||
|
|
||
PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
||
|
|
||
|
Trade Morality |
|
Fair |
|
Liquidity |
|
Medium |
|
Payment status |
|
|
|
Financial Situation |
|
Average |
|
Development trend |
|
Even |
|
Litigation data |
|
No |
|
Bankruptcy |
|
No |
|
Payment Methods |
|
L/C, T/T |
|
|
|
Retailer and Wholesaler |
|
Public opinion |
|
Average |
|
|
|
CREDIT INQUIRY: 125,000 USD Against D/A in term |
|
This inquiry is too big with subject’s capacity. |
|
|
INTERPRETATION ON THE SCORES
|
|
|
|
TAN HAI TRIEU PRODUCTION AND TRADING SERVICES JOINT
STOCK COMPANY was established in 2008 under the business registration no.
0103023896, issuance on April 16th 2008 by Planning and Investment Department
of Hanoi City. Its registered capital of VND 1.9 billion. The business activities of the subject is
specializing in import and trading material for food industry. It mainly
imports food ingredients and supporting materials for food manufacturers.
Besides that, it also import and trading functional foods for local market.
Subject’s position is still limited in the field business. In the first time of operation, the subject
registered at No. Room 204, Block E2 No. 128C Dai La Street, Dong Tam Ward,
Hai Ba Trung District, Hanoi City and then it moved to No. 21, Alley 28,
Truong Dinh Street - Hai Ba Trung District - Ha Noi City – Vietnam.
Currently, the number of employees is 10 people. They often work outside, so
the office often is empty and we have some problems to contact with the
subject. On the hand of finance, subject’s strengthen is
normal. In three first quarters of 2009 the subject reached VND 2,721 million
of total sales and VND 591 million of profit after tax. These numbers were
suitable with its scale business. We tried to collect the financial data in
recent years but not available. In overview, the subject is a small company and it
is developing at normal rate. It is running as family businesses with
shareholders are in family. Future prospect of the subject is average. It is
available to meet small financial commitments. |
------------ APPENDIX ----------
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) |
||
|
2011 |
2010 |
|||||
|
Agriculture,
Forestry and Fishing |
4.00 |
2.78 |
8,749 |
23,896.3 |
81,559 |
|
|
Industry and
Construction |
5.53 |
7.70 |
85,115 |
10,630 |
2,751,975 |
|
|
Trade and
Services |
6.69 |
7.52 |
154,978 |
14,522 |
4,939,069 |
|
|
|
||||||
ECONOMIC INDICATORS
|
||||||
|
|
||||||
|
|
2011 |
2010 |
2009 |
|||
|
Population (Million person) |
87.84 |
86.93 |
86.02 |
|||
|
Gross Domestic Products (USD
billion) |
119 |
102.2 |
91 |
|||
|
GDP Growth (%) |
5.89 |
6.78 |
5.32 |
|||
|
GDP Per Capita
(USD/person/year) |
1,300 |
1,160 |
1,080 |
|||
|
Inflation (% Change in
Composite CPI) |
18.58 |
11.75 |
6.88 |
|||
|
State Budget Deficit compared
with GDP (%) |
4.9 |
5.8 |
6.9 |
|||
|
|
||||||
SERVICE TRADE PERFORMANCE
|
||||||
|
|
||||||
|
Billion USD |
2011 |
2010 |
2009 |
|||
|
Exports |
96.3 |
72.2 |
57.1 |
|||
|
Imports |
105.8 |
84.8 |
69.9 |
|||
|
Trade Balance |
-9.5 |
-12.6 |
-12.8 |
|||
Source: General
Statistics Office
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.66 |
|
|
1 |
Rs.81.79 |
|
Euro |
1 |
Rs.67.18 |
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.