MIRA INFORM REPORT

 

 

Report Date :

28.12.2012

 

IDENTIFICATION DETAILS

 

Name :

PHONESACK GROUP CO LTD

 

 

 

 

Registered Office :

Unit 15 Sithong Rd Pakthang Village, Sikhottabong Dist, Vientiane

 

 

Country :

Laos

 

 

Date of Incorporation :

30.05.2007

 

 

Legal Form :

Company Limited

 

 

Line of Business :

Manufacturer of Minerals / Mining

 

 

No. of Employees :

2,050

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

Laos

C1

C1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

LAOS - ECONOMIC OVERVIEW

 

The government of Laos, one of the few remaining one-party communist states, began decentralizing control and encouraging private enterprise in 1986. The results, starting from an extremely low base, were striking - growth averaged 6% per year from 1988-2008 except during the short-lived drop caused by the Asian financial crisis that began in 1997. Lao's growth exceeded 7% per year during 2008-11. Despite this high growth rate, Laos remains a country with an underdeveloped infrastructure, particularly in rural areas. It has a rudimentary, but improving, road system, and limited external and internal land-line telecommunications. Electricity is available in urban areas and in many rural districts. Subsistence agriculture, dominated by rice cultivation in lowland areas, accounts for about 30% of GDP and 75% of total employment. Economic growth has reduced official poverty rates from 46% in 1992 to 26% in 2010. The economy has benefited from high foreign investment in hydropower, mining, and construction. Laos gained Normal Trade Relations status with the US in 2004, and is taking steps required to join the World Trade Organization, such as reforming import licensing. Related trade policy reforms will improve the business environment. On the fiscal side, Laos initiated a VAT tax system in 2010. Simplified investment procedures and expanded bank credits for small farmers and small entrepreneurs will improve Lao's economic prospects. The government appears committed to raising the country's profile among investors, opening the country's first stock exchange in 2011. The World Bank has declared that Laos's goal of graduating from the UN Development Program's list of least-developed countries by 2020 is achievable. According Laotian officials, the 7th Socio-Economic Development Plan for 2011-15 will outline efforts to achieve Millennium Development Goals.

Source : CIA

REGISTERED NAME & COMPANY SUMMARY

 

Company Details

Organization Name

:

PHONESACK GROUP CO LTD

Address

:

Unit 15 Sithong Rd Pakthang Village, Sikhottabong Dist, Vientiane

Country

:

Laos

Phone (S)

:

[+856] 21-550497

Facsimile

:

[+856] 21-550498

Email

:

info@phonesackgroup.com

Website

:

http://www.phonesackgroup.com

Primary Business Activity

:

Manufacturer

Key Industry

:

Minerals / Mining

 

Key Facts

Registered Legal Address

:

Ban Phonexay, Xaysettha Dist, Vientiane

Operational Address

:

Unit 15 Sithong Rd Pakthang Village, Sikhottabong Dist, Vientiane

Issuing Authority

:

Ministry of Industry & Commerce, Enterprise Registry Office - Vientiane

License Number

:

01-00000031

License Status

:

License exists - Normal.

Legal Form - Category

:

Private Company with Limited Liability

Legal Form

:

Company Limited

Legal Form - Abbreviation

:

CO LTD

Operational Status of Business

:

Normal

Date of Registration

:

30 May, 2007

Employees

:

2,050

DIRECTORS/MANAGEMENT

 

Key Person

Legal Title

:

Chairman

Name

:

Mr. Phonesack Vilaysack

Nationality

:

Lao

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Ms. Feng Chanh

Lao

Manager

Human Resources

2

Mr. Phonesack Vilaysack

Lao

Chief Executive Officer - CEO

-

Management Details - 1

Personal Unique Identifier

:

MI02478347

Name

:

Ms. Feng Chanh

 

Management Details - 2

Personal Unique Identifier

:

MI01979002

Name

:

Mr. Phonesack Vilaysack

 

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI01979002

Name

:

Mr. Phonesack Vilaysack

Nationality

:

Lao

 

Based on corporate statutory laws / regulations in Laos, there is no requirement for public disclosure of Directors. In this case, the Directors information was supplied by the Subject Business Entity.

 

NEGATIVE INFORMATION

 

REPUTATION

Reference checking for the purpose of establishing the PHONESACK GROUP CO LTD's reputation within the respective industry failed to reveal any adverse information.

 

NEGA-SCAN - ADVERSE DATA MONITORING

 

DISHONORED CHECKS

 

No Record Found

 

 

DEBT

 

No Record Found

 

 

LITIGATION

 

No Record Found

 

 

PERFORMANCE DEFAULTS

 

No Record Found

 

 

ADVERSE LOCAL MEDIA COVERAGE / ADVERSE FILING HISTORY

 

No Record Found

 

 

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Capital

:

n/a(1)

 

SHAREHOLDERS

Total number of shareholders

:

2

Total number of shares

:

n/a

 

Currency

:

LAK - Lao Kip

 

No.

Shareholders

Country

Shares

Number

Amount (LAK)

%

1

Mr. Phonesack Vilaysack

Laos

n/a

n/a

n/a

2

Undisclosed Shareholders

n/a

n/a

n/a

n/a

Total

n/a

n/a

n/a

 

 

Based on corporate statutory laws / regulations in Laos, there is no requirement for public disclosure of Shareholders. In this case, the Shareholders information was supplied by the Subject Business Entity.

 

PAYMENT INFORMATION

 

DOMESTIC SALES & PURCHASES

Annual Sales Analysis

Percentage

Domestic Sales

60%

International Sales (Export)

40%

Annual Purchases Analysis

Percentage

Local Purchases

100%

Imports

0%

 

PAYMENT TERMS

Selling

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~60 days

Export

Letter of Credit (At-sight)

Telegraphic Transfer (T/T) - Received at time of transaction

Purchasing

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~60 days

 

INTERNATIONAL TRADE - Activity & Markets

 

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Exporting

 

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

STRATEGIC PARTNER/S & ALLIANCES

 

Group / Alliance name

:

PHONESACK GROUP

 

 

FINANCIAL INFORMATION

 

FINANCIAL STATEMENT - DETAILED

Based on the corporate laws of Laos, legal entities which are Private Company with Limited Liability are not required to make public disclosure of their annual financials. Therefore no financials are available for this entity.

 

FOREIGN EXCHANGE RATES

 

Today's Exchange rate

:

1.00 LAK
Lao Kip

=

0.000125 USD
United States Dollars

 

ADDITIONAL INFORMATION

 

Report Details

Country

:

Laos

Business Entity Name

:

PHONESACK GROUP CO LTD

Primary Business Activity

:

Manufacturer

Primary Industry

:

Minerals / Mining

Office Contact Details

Operating Address

:

Unit 15 Sithong Rd Pakthang Village, Sikhottabong Dist, Vientiane

Tel

:

[+856] 21-550497

Mobile

:

[+856] 20-55550357

Fax

:

[+856] 21-550498

Email

:

info@phonesackgroup.com
careers@phonesackgroup.com
hr_psg@yahoo.com
pt_ci@yahoo.com

Postal Details

P.O. Box

:

1808

Website Details

Website

:

http://www.phonesackgroup.com

Status

:

Normal - operational

Country of Registration

:

Laos

Ownership Type

:

Registered ownership by Subject Business Entity

 

Primary Products

Products / Materials / Services Description

Activity

Anthracite coals

Manufacturing, Exporting

Coal

Manufacturing, Exporting

Gold

Manufacturing, Exporting

Wood products

Manufacturing, Exporting

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Coal & Other Minerals & Ores

5052

Manufacturing, Exporting

Coal Mining

1200

Service

Excavation Work

1794

Service

Gold ores

1041

Manufacturing, Exporting

Heavy Construction, NEC

1629

Service

Minerals and earths, ground or otherwise treated

3295

Manufacturing, Exporting

Wood products, nspf

2499

Manufacturing, Exporting

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Agric, construction, trans, electric/ gas/ sanitary, eng & mgmt & envir.quality

9800

Service

Articles of wood

4421

Manufacturing, Exporting

Coal; briquettes, ovoids etc, mfr from coal

2701

Manufacturing, Exporting

Excavation work

9829

Service

Gold (incl put plated), unwr, semimfr or powder

7108

Manufacturing, Exporting

Heavy construction

9818

Service

Mineral substances nesoi

2530

Manufacturing, Exporting

Precious metal ores and concentrates

2616

Manufacturing, Exporting

Precious metal ores and concentrates (excpt silvr): gold content

2616900040

Manufacturing, Exporting

 

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

Products / Materials / Services Description

Ranking

Activity

Coal mining

Secondary

Service

Construction

Secondary

Service

Construction projects

Secondary

Service

Gold mining

Secondary

Service

Mining

Secondary

Service

Power plant projects

Secondary

Service

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of PHONESACK GROUP CO LTD is Mining.

An integral part of the core business includes:

·         Distribution

Supplementary Business

In addition to the core business, PHONESACK GROUP CO LTD also is engaged in the following areas of business:

  1. Exporting
    • Exporting - Semi-processed materials

 

 

OTHER LICENSES

License Number

:

0091

Date of Issuance

:

8 Jun, 2007

License Number

:

0145

Date of Issuance

:

13 Jan, 2009

 

LOCAL BRANCHES & MANAGEMENT

Branch

:

PHONESACK GROUP CO LTD - THAKHEK, KHAMMOUANE

Branch Address

:

13 South Rd Souksavanh Village, Thakhek, Khammouane

Branch Tel

:

856-51-212105

Branch Fax

:

856-51-212889

 

OFFICE & FACILITIES

Name

:

PHONESACK GROUP CO LTD - SIKHOTTABONG DIST, VIENTIANE

Type of Location

:

Commercial

Address

:

Unit 15 Sithong Rd Pakthang Village, Sikhottabong Dist, Vientiane

Country

:

Laos

Status

:

Operational

 

 

PREVIOUS CONTACT DETAILS

Company Address

:

130/8 Sisaket Village Bartholonie St, Chanhthabouly Dist, Vientiane

Phone Number

:

856-21-242516

Fax Number

:

856-21-250150

Date of Relocation

:

2010

Phone Number

:

856-21-260665

Phone Number

:

856-21-219909

Phone Number

:

856-21-260666

 

 

 

 

NOTES & COMMENTS

 

Note

:

(1) Not applicable.
According to the corporate statutory laws for this type of Legal Form - Category(Private Company with Limited Liability) in Laos, there is no requirement for Authorized Capital.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.84

UK Pound

1

Rs.88.55

Euro

1

Rs.72.63

 

 

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.