MIRA INFORM REPORT
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Report Date : |
21.04.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
VIET WORLD PRODUCING-TRADING-SERVICES COMPANY
LIMITED |
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Registered Office : |
No. 40/7E Dong Hamlet - Thoi Tam Thon
Commune - Hoc Mon District - |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Year of Establishment : |
2003 |
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Com. Reg. No.: |
0302912443 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturing and processing of textile products |
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No. of Employees
: |
25 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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b1 |
b1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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Registration English Name |
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VIET WORLD PRODUCING-TRADING-SERVICES
COMPANY LIMITED |
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Registration Vietnamese Name |
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CONG TY TNHH SAN XUAT THUONG MAI DICH VU
DAT VIET |
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Registration short name |
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VIET WORLD CO.,LTD |
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Type of Business |
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Limited liability company |
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Year Established |
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2003 |
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Business Registration No. |
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0302912443 |
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Date of Registration |
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25 Aug 2009 (05th adjustment) |
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Place of Registration |
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Business Registration Office - Planning
and Investment Department of |
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Current registered capital |
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VND4,000,000,000 |
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Tax code |
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0302912443 |
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Total Employees |
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25 |
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Size |
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Small |
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Head Office |
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Address |
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No. 40/7E Dong Hamlet - Thoi Tam Thon
Commune - Hoc Mon District - Ho Chi Minh City - Vietnam |
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Telephone |
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(84-8) 3971 7045 |
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Fax |
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(84-8) 3971 7065 |
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Email |
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Website |
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Workshop Address
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Address |
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No. 44A Doi Cung Str - Ward 11 - Dist 11 - |
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Workshop Address
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Address |
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No. 18 Tan Chau Str - Ward 8 - Tan Binh
Dist - |
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1.
NAME |
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Mr.
CHAU VAN TUAN |
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Position |
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Director - Legal Representative |
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Date of Birth |
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04 Jun 1967 |
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ID Number/Passport |
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022026239 |
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ID Issue Date |
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05 Aug 2004 |
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Police Station of Ho
Chi Minh City |
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Resident |
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No. 521/91/55 Hoang Van
Thu Str - Ward 4 - Tan Binh Dist - Ho Chi Minh City - Vietnam |
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Nationality |
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Vietnamese |
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2.
NAME |
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Ms.
PHAM THI HOAI CHI |
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Position |
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Chief Accountant |
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Email |
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Nationality |
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Vietnamese |
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Manufacturing and processing of textile products. |
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IMPORT: |
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·
Types of products |
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Materials |
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·
Market |
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EXPORT: |
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·
Types of products |
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Textile products |
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·
Market |
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1.
ASIA COMMERCIAL BANK TAN BINH BRANCH |
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Address |
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No.29 Ly Thuong Kiet - Tan Binh Dist - |
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Telephone |
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(84-8) 6265 3500 |
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Fax |
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(84-8) 6265 3501 |
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2.
DONG A COMMERCIAL JOINT STOCK BANK TAN BINH BRANCH |
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Address |
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No. 235-237-239-241 Cong Hoa Str - Ward 13 - Tan Binh District - |
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Telephone |
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(84-8) 3810 2161 |
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Fax |
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(84-8) 3810 1854 |
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1.
NAME |
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Ms.
CHAU THI DAO |
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Resident |
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No. 521/91/55 Hoang Van Thu Str - Ward 4 -
Tan Binh District - |
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Nationality |
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Vietnamese |
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Value of shares |
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VND 600,000,000 |
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Percentage |
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15% |
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2.
NAME |
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Mr.
CHAU VAN TUAN |
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Position |
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Director – Legal Representative |
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Date of Birth |
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04 Jun 1967 |
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ID Number/Passport |
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022026239 |
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Issued on |
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05 Aug 2004 |
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Issued Place |
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Police Station of |
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Resident |
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No. 521/91/55 Hoang Van Thu Str - Ward 4 -
Tan Binh District - |
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Nationality |
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Vietnamese |
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Value of shares |
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VND 1,780,000,000 |
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Percentage |
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44.5% |
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3.
NAME |
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Mr.
NGUYEN VAN THIEN |
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ID Number/Passport |
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023169996 |
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Resident |
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No. 1/6 Bis Do Thanh Housing Compound -
Ward 4 - District 3 - |
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Nationality |
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Vietnamese |
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Value of shares |
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VND 1,620,000,000 |
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Percentage |
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40.5% |
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BALANCE
SHEET |
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Unit: Million VND
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Balance sheet
date |
31/12/2009 |
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Number of weeks |
52 |
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ASSETS |
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A. Current Asset
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41,547 |
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Receivables |
5,882 |
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Inventory |
35,665 |
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Cash and other current assets |
0 |
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B. Long term
Asset |
6,360 |
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1. Long term
account receivable |
2,410 |
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2. Fixed assets |
3,950 |
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Tangible fixed assets |
3,115 |
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+ Original cost |
6,730 |
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+ Accumulated depreciation value |
-3,615 |
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Financial leasehold assets |
0 |
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Intangible fixed assets |
323 |
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Construction in progress and other long term asset |
512 |
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TOTAL ASSETS |
47,907 |
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LIABILITIES |
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Payable loans |
42,497 |
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Owner’s Equity |
5,410 |
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TOTAL LIABILITY
AND EQUITY |
47,907 |
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PROFIT & LOSS STATEMENT |
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1. Total Sales |
86,563 |
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2. Deduction item |
317 |
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3. Net sale |
86,246 |
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4. Costs of goods sold |
77,455 |
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5. Gross profit |
8,791 |
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6. Financial income |
88 |
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7. Financial expenses |
4,243 |
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8. Selling expenses and Administrative overheads |
5,348 |
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9. Net operating profit |
-712 |
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10. Other income |
9,482 |
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11. Other expenses |
7,351 |
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12. Other profit /(loss) |
2,131 |
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13. Total accounting profit before tax |
1,419 |
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14. Current corporate income tax |
41 |
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15. Deferred corporate income tax |
0 |
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16. Interest from subsidiaries/related companies |
0 |
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17. Profit after tax |
1,378 |
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Trade Morality |
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Liquidity |
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N/A |
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Payment status |
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N/A |
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Financial Situation |
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Average |
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Development trend |
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N/A |
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Litigation data |
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No Record |
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Bankruptcy |
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No Record |
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Payment Methods |
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By cash or through the bank |
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Retailer and Wholesaler |
CREDIT INQUIRY: USD 125,000, D/A terms
Caution is needed.
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The subject was established in 2003
with Vietnamese Name “CONG TY TNHH DET DAO TUAN”. Currently, it is
operating under Business Registration No. 0302912443 with Vietnamese Name “CONG
TY TNHH SAN XUAT THUONG MAI DICH VU DAT VIET”. Head office of the subject is located at “No.
40/7E Dong Hamlet - Thoi Tam Thon Commune - Hoc Mon District - The subject specializes
in manufacturing and processing of
textile products. It usually imports materials from We had an interview with
Ms. Pham Thi Hoai Chi – the chief accountant of the subject. According to Ms.
Chi, the subject was operating busily. Turnover in 2010 was VND 78.752
billion (decreased by 9.02% in comparison with 2009). In 2011, turnover of
the subject was VND 86.315 billion (increased by 9.60% in comparison with
2010). Profit after tax both 2010 and 2011 were lower than profit in 2009
because financial expenses were fairly high.
Currently,
its market share is acceptable. In general, competition capacity of this
subject is at average level. The position in the industry of the subject is
small. In our opinion, it is trying to enlarge its market in the future. |
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INDUSTRY DATA |
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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) |
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2011 |
2010 |
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Agriculture,
Forestry and Fishing |
4.00 |
2.78 |
8,749 |
23,896.3 |
81,559 |
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Industry and
Construction |
5.53 |
7.70 |
85,115 |
10,630 |
2,751,975 |
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Trade and
Services |
6.69 |
7.52 |
154,978 |
14,522 |
4,939,069 |
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ECONOMIC
INDICATORS |
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2011 |
2010 |
2009 |
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Population (Million person) |
87.84 |
86.93 |
86.02 |
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Gross Domestic Products (USD billion) |
119 |
102.2 |
91 |
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GDP Growth (%) |
5.89 |
6.78 |
5.32 |
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GDP Per Capita (USD/person/year) |
1,300 |
1,160 |
1,080 |
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Inflation (% Change in Composite CPI) |
18.58 |
11.75 |
6.88 |
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State Budget Deficit compared with GDP (%) |
4.9 |
5.8 |
6.9 |
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SERVICE TRADE
PERFORMANCE |
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Billion USD |
2011 |
2010 |
2009 |
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Exports |
96.3 |
72.2 |
57.1 |
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Imports |
105.8 |
84.8 |
69.9 |
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Trade Balance |
-9.5 |
-12.6 |
-12.8 |
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Source: General
Statistics Office
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.99 |
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|
1 |
Rs.83.54 |
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Euro |
1 |
Rs.63.40 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.