MIRA INFORM REPORT

 

 

Report Date :

18.08.2012

 

IDENTIFICATION DETAILS

 

Name :

CAT TUONG COMPANY LIMITED

 

 

Registered Office :

Trung Binh Residential Group, Duong Noi Ward, Ha Dong District, Ha Noi City

 

 

Country :

Vietnam

 

 

Year of Establishment :

2003

 

 

Com. Reg. No.:

0500444109

 

 

Legal Form :

Limited liability company

 

 

Line of Business :

The subject is specialized in trading rough timber and processed wood.

 

 

No. of Employees :

80

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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

 

Translated English Name

 

CAT TUONG COMPANY LIMITED

Registered Vietnamese Name

 

CONG TY TNHH CAT TUONG

Type of Business

 

Limited liability company

Year Established

 

2003

Business Registration No.

 

0500444109

Date of Re-Registration

 

10 Jan 2012

Place of Registration

 

Department of Planning and Investment Ha Noi City

Chartered capital

 

VND 9,680,000,000

Status

 

Unlisted

Tax code

 

0500444109

Total Employees

 

80

Size

 

Small

Note: The subject does not register English name.

 

ADDRESSES

 

Head Office

Address

 

Trung Binh Residential Group, Duong Noi Ward, Ha Dong District, Ha Noi City, Vietnam

Telephone

 

(84-4) 62555777 /62929329

Fax

 

(84-4) 62747474

Email

 

catwoodvn@gmail.com

Website

 

http://cattuongwood.com/

Note: The exact address of subject is as above.

 

Branch in Bac Giang

Address

 

Bo Ha Commune, Yen The District, Bac Giang Province, Vietnam

 

 

DIRECTORS

 

1. NAME

 

Mr. TRIEU THANH CONG

Position

 

Director

Date of Birth

 

16 Feb 1977

ID Number/Passport

 

111352016

ID Issue Date

 

28 May 2009

ID Issue Place

 

Hanoi Police Station

Resident

 

Duong Noi Ward, Ha Dong District, Ha Noi City, Vietnam

Nationality

 

Vietnamese

 

2. NAME

 

Mr. HOANG VAN THE

Position

 

Deputy Director

Nationality

 

Vietnamese

 

 

BUSINESS NATURE AND ACTIVITIES

 

The subject is specialized in trading rough timber and processed wood.

 

 

 

IMPORT & EXPORT ACTIVITIES

 

IMPORT:

·         Types of products

 

Wood

·         Market

 

Laos, Africa, USA, Togo, etc

 

EXPORT:

·         Market

 

India, Indonesia

 

 

BANKERS

 

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

Address

 

No. 104 Tran Phu Str., Mo Lao ward, Ha Dong District, Ha Noi City, Vietnam

Telephone

 

(84-4) 33517843

 

2. HOUSING BANK OF MEKONG DELTA HA TAY BRANCH

Address

 

No. 168, Quang Trung Street, Ha Dong District, Ha Noi City, Vietnam

Telephone

 

(84-4) 33825400

Fax

 

(84-4) 33825384

 

3. VIET NAM BANK FOR AGRICULTURE AND RURAL DEVELOPMENT DONG DA BRANCH

Address

 

No. 3/37, De La Thanh Street, Dong Da District, Ha Noi City, Vietnam

Telephone

 

(84-4) 35720282

Fax

 

(84-4) 35737574

 

 

SHAREHOLDERS
 

1. NAME

 

Mr. TRIEU THANH CONG

Position

 

Director

Date of Birth

 

16 Feb 1977

ID Number/Passport

 

111352016

Issued on

 

28 May 2009

Issued Place

 

Hanoi Police Station

Resident

 

Duong Noi Ward, Ha Dong District, Ha Noi City, Vietnam

Nationality

 

Vietnamese

Value of shares

 

VND 9,196,000,000

Percentage

 

95%

 

2. NAME

 

Ms. HOANG THI XUYEN

ID Number/Passport

 

112373232

Resident

 

Trung Binh Residential Group Duong Noi Ward, Ha Dong District, Ha Noi City, Vietnam

Nationality

 

Vietnamese

Value of shares

 

VND 484,000,000

Percentage

 

5%

 

 

 

 

 

 

 

 

FINANCIAL HIGHLIGHT

 

BALANCE SHEET

Unit: Million VND

Balance sheet date

31/12/2009

31/12/2008

Number of weeks

52

52

ASSETS

A. Current Asset

8,447

4,803

Receivables

1,947

4,372

Inventory

963

431

Cash and other current assets

5,537

-

B. Long term Asset

222

341

1. Long term account receivable

-

-

2. Fixed assets

222

341

Tangible fixed assets

222

341

+ Original cost

349

443

+ Accumulated depreciation value

127

102

Financial leasehold assets

-

-

Intangible fixed assets

-

-

Construction in progress and other long term asset

-

-

TOTAL ASSETS

8,669

5,144

 

LIABILITIES

Payable loans

3,527

14

Owner’s Equity

5,142

5,130

TOTAL LIABILITY AND EQUITY

8,669

5,144

 

PROFIT & LOSS STATEMENT

 

Description

FY2009

FY2008

1. Total Sales

3,444

2,122

2. Deduction item

-

-

3. Net revenue

3,444

2,122

4. Costs of goods sold

3,183

-

5. Gross profit

261

-

6. Financial income

-

-

7. Financial expenses

19

-

8. Selling expenses and Administrative overheads

218

-

9. Net operating profit

24

29

10. Other income

86

-

11. Other expenses

86

-

12. Other profit /(loss)

-

-

13. Total accounting profit before tax

24

-

14. Current corporate income tax

3

-

15. Deferred corporate income tax

-

-

16. Interest from subsidiaries/related companies

-

-

17. Profit after tax

21

29

 

PAYMENT HISTORY & PERFORMANCE EXPERIENCES

 

 

 

Trade Morality

 

Fair

 

Liquidity

 

N/A

 

Payment status

 

N/A

 

Financial Situation

 

Below Average

 

Development trend

 

Developing

 

Litigation data

 

No Record

 

Bankruptcy

 

No Record

 

Payment Methods

 

L/C, T/T

 

Sale Methods

 

To contracts

 

Public opinion

 

Normal

 

 

 

 

INTERPRETATION ON THE SCORES

 

Subject is a limited liability company which was established in 2003 in Ha Tay province (now is Hanoi). Its main business activities is trading and processing of wood. Currently, it is operating under the business registration (as the same tax code) number 0500444109 with chartered capital of VND 9,680,000,000.

Subject registered operative address at Duong Noi Ward, Ha Dong Dist., Hanoi where is also residential address of Mr. Trieu Thanh Cong - Subject's Director. Besides, subject also has one other transaction office placed 1 kilometer from its head office and one branch in Bac Giang province. Total employees are 80 persons. Subject imports many kinds of wood from many countries such as Laos, Togo, Africa, USA, etc. Products of subject are mostly supplied for partners in domestic market to contracts. Besides, subject also exports small amount to India and Indonesia.

Financially, the latest financial data of subject is not available in our source at the moment. Financial data above of subject showed that total assets and revenue have increase strongly in 2009. Value of total assets in 2009 was VND 8,669 million, increased 68.5% in comparison with 2008. Turnover rose from VND 2,122 million in 2008 to VND 3,444 million in 2009, increasing of 62%.

In general, subject is operating on small scale. Its facilities are normal. Now it can meet small financial commitments. For bigger ones, caution is needed with the subject.

 

 

------------ 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.55.70

UK Pound

1

Rs.87.54

Euro

1

Rs.68.85

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.