MIRA
INFORM REPORT
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Report Date : |
11.02.2012 |
IDENTIFICATION DETAILS
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Name : |
HOA THUAN TRADING COMPANY LIMITED |
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Registered Office : |
No. 266 Co Bac street- Co Giang ward
- District 1 - Ho Chi Minh City -
Vietnam |
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Country : |
Viet Nam |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
2002 |
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Com. Reg. No.: |
0302741420 |
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Legal Form : |
Limited liability company |
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Line of Business : |
Trading of household appliances, electrical
materials, electronic goods, fabrics |
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No. of Employees : |
10 |
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 : |
Small company |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Viet Nam |
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 |
SUBJECT IDENTIFICATION &
LEGAL FORM
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Translation English Name |
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HOA THUAN TRADING COMPANY LIMITED |
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Registration Vietnamese Name |
|
CONG TY TNHH THUONG MAI HOA THUAN |
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Trade name |
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HOA THUAN CO., LTD |
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Registration short name |
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H.T 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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2002 |
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Business Registration No. |
|
0302741420 |
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Date of 5th Adjustment |
|
18 Jan 2012 |
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Place of Registration |
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Business Registration Office - Department of
Planning and Investment of Hochiminh City |
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Current registered capital |
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VND 8,000,000,000 |
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Tax code |
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0302741420 |
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Total Employees |
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10 |
ADDRESSES
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Head Office |
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Address |
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No. 266 Co Bac street- Co Giang ward
- District 1 - Ho Chi Minh City -
Vietnam |
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Telephone |
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(84-8) 3836 5703 |
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Fax |
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(84-8) 3837 7457 |
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Email |
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Website |
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DIRECTORS
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1.
NAME |
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Ms.
DINH THI THANH TAM |
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Position |
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Director |
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Date of Birth |
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24 Oct 1953 |
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ID Number/Passport |
|
020057732 |
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ID Issue Date |
|
13 Nov 2003 |
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ID Issue Place |
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Police Station of Ho
Chi Minh City |
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Resident |
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No. 266 Co Bac Str -
Co Giang Ward - District 1 - Ho Chi
Minh City - Vietnam |
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Nationality |
|
Vietnamese |
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2.
NAME |
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Mr.
MAN VAN CHUC |
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Position |
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Deputy Director |
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ID Number/Passport |
|
021582495 |
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Resident |
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No. 126 Dien Bien Phu
Str - Da Kao Ward - District 1 - Ho
Chi Minh City - Vietnam |
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Nationality |
|
Vietnamese |
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3.
NAME |
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Ms.
QUACH THI GAM |
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Position |
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Chief Accountant |
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Nationality |
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Vietnamese |
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BUSINESS NATURE AND ACTIVITIES
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Trading
of household appliances, electrical materials, electronic goods, fabrics, yarns,
garments, garment accessories, food, food technology, handicraft goods,
rubber products, agro-forestry and aquaculture products. Purchasing wine, beer, juice, bottled water. Freight
services, transportation brokerage services, air-train ticket agent. |
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IMPORT & EXPORT ACTIVITIES
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IMPORT: |
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Note: Currently, the subject does not import |
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EXPORT: |
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·
Types of products |
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Products |
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·
Market |
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Australia, New Zealand, Japan, USA, UAE, England, Malaysia, France,
Singapore, Taiwan, China, Mexico, Brazil, Argentina, Pakistan, Russia,
Romania, Bangladesh, Phillipines, Uruguay, Turkey, Spain. |
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BANKERS
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1.
ASIA COMMERCIAL BANK SAI GON BRANCH |
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Address |
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No.30 Mac Dinh Chi Str -
District 1 - Ho Chi Minh City - Vietnam |
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Telephone |
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(84-8) 3824 3770 |
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Fax |
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(84-8) 3824 3946 |
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2.
VIET NAM BANK FOR AGRICULTURE AND RURAL DEVELOPMENT HO CHI MINH CITY BRANCH |
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Address |
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No.2A Pho Duc Chinh Str - District 1 - Ho Chi Minh City - Vietnam |
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Telephone |
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(84-8) 3822 2752 |
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Fax |
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(84-8) 3829 4063 |
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SHAREHOLDERS
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1.
NAME |
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Mr.
MAN DINH THUAN |
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ID Number/Passport |
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023598529 |
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Resident |
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No. 126 Dien Bien Phu Str - Da Kao
Ward -
District 1 - Ho Chi Minh City - Vietnam |
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Nationality |
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Vietnamese |
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Value of shares |
|
VND 2,000,000,000 |
|
Percentage |
|
25% |
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2.
NAME |
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Mr.
MAN VAN CHUC |
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Position |
|
Deputy Director |
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ID Number/Passport |
|
021582495 |
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Resident |
|
No. 126 Dien Bien Phu Str - Da Kao Ward
- District 1 - Ho Chi Minh City -
Vietnam |
|
Nationality |
|
Vietnamese |
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Value of shares |
|
VND 1,000,000,000 |
|
Percentage |
|
12.5% |
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3.
NAME |
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Ms.
DINH THI THANH TAM |
|
Position |
|
Director |
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Date of Birth |
|
24 Oct 1953 |
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ID Number/Passport |
|
020057732 |
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Issued on |
|
13 Nov 2003 |
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Issued Place |
|
Police Station of Ho Chi Minh City |
|
Resident |
|
No. 266 Co Bac Str - Co Giang Ward - District 1 - Ho Chi Minh City - Vietnam |
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Nationality |
|
Vietnamese |
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Value of shares |
|
VND 5,000,000,000 |
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Percentage |
|
62.5% |
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FINANCIAL DATA
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BALANCE SHEET |
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Unit: One VND
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Balance
sheet date |
31/12/2010
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Number of weeks |
52 |
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ASSETS |
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A – CURRENT
ASSETS |
140,868,000,000
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I. Cash and cash
equivalents |
2,767,000,000
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1. Cash |
2,767,000,000 |
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2. Cash equivalents |
0 |
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II. Short-term
investments |
0 |
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1. Short-term investments |
0 |
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2. Provisions for devaluation of short-term investments |
0 |
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III. Accounts
receivable |
60,407,000,000
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1. Receivable from customers |
43,328,000,000 |
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2. Prepayments to suppliers |
17,079,000,000 |
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3. Inter-company receivable |
0 |
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4. Receivable according to the progress of construction |
0 |
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5. Other receivable |
0 |
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6. Provisions for bad debts |
0 |
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IV. Inventories |
57,561,000,000
|
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1. Inventories |
57,561,000,000 |
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2. Provisions for devaluation of inventories |
0 |
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V. Other Current
Assets |
20,133,000,000
|
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1. Short-term prepaid expenses |
20,133,000,000 |
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2. VAT to be deducted |
0 |
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3. Taxes and other accounts receivable from the State |
0 |
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4. Other current assets |
0 |
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B. LONG-TERM
ASSETS |
0 |
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I. Long term
accounts receivable |
0 |
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1. Long term account receivable from customers |
0 |
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2. Working capital in affiliates |
0 |
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3. Long-term inter-company receivable |
0 |
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4. Other long-term receivable |
0 |
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5. Provisions for bad debts from customers |
0 |
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II. Fixed assets
|
0 |
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1. Tangible assets |
0 |
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- Historical costs |
0 |
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- Accumulated depreciation |
0 |
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2. Financial leasehold assets |
0 |
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- Historical costs |
0 |
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- Accumulated depreciation |
0 |
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3. Intangible assets |
0 |
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- Initial costs |
0 |
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- Accumulated amortization |
0 |
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4. Construction-in-progress |
0 |
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III. Investment
property |
0 |
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Historical costs |
0 |
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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 |
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TOTAL ASSETS |
140,868,000,000
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LIABILITIES |
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A- LIABILITIES |
122,561,000,000
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I. Current
liabilities |
122,561,000,000
|
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1. Short-term debts and loans |
80,525,000,000 |
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2. Payable to suppliers |
39,789,000,000 |
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3. Advances from customers |
0 |
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4. Taxes and other obligations to the State Budget |
2,247,000,000 |
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5. Payable to employees |
0 |
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6. Accrued expenses |
0 |
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7. Inter-company payable |
0 |
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8. Payable according to the progress of construction contracts |
0 |
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9. Other payable |
0 |
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10. Provisions for short-term accounts payable |
0 |
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II. Long-Term
Liabilities |
0 |
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1. Long-term accounts payable to suppliers |
0 |
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2. Long-term inter-company payable |
0 |
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3. Other long-term payable |
0 |
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4. Long-term debts and loans |
0 |
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5. Deferred income tax payable |
0 |
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6. Provisions for unemployment allowances |
0 |
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7. Provisions for long-term accounts payable |
0 |
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B- OWNER’S
EQUITY |
18,307,000,000
|
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I. OWNER’S
EQUITY |
18,307,000,000
|
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1. Capital |
3,000,000,000 |
|
2. Share premiums |
0 |
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3. Other sources of capital |
0 |
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4. Treasury stocks |
0 |
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5. Differences on asset revaluation |
0 |
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6. Foreign exchange differences |
0 |
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7. Business promotion fund |
0 |
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8. Financial reserved fund |
0 |
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9. Other funds |
0 |
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10. Retained earnings |
15,307,000,000 |
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11. Construction investment fund |
0 |
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II. Other
sources and funds |
0 |
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1. Bonus and welfare funds |
0 |
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2. Sources of expenditure |
0 |
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3. Fund to form fixed assets |
0 |
|
MINORITY’S
INTEREST |
0 |
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TOTAL
LIABILITIES AND OWNER’S EQUITY |
140,868,000,000
|
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PROFIT & LOSS STATEMENT
|
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Description |
FY2010 |
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1. Total Sales |
1,420,854,000,000
|
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2. Deduction item |
0 |
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3. Net revenue |
1,420,854,000,000
|
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4. Costs of goods sold |
1,399,652,000,000 |
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5. Gross profit |
21,202,000,000
|
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6. Financial income |
22,190,000,000 |
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7. Financial expenses |
5,517,000,000 |
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- In which: Loan interest expenses |
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8. Selling expenses |
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9. Administrative overheads |
22,439,000,000 |
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10. Net operating profit |
15,436,000,000
|
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11. Other income |
0 |
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12. Other expenses |
0 |
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13. Other profit /(loss) |
0 |
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14. Total accounting profit before tax |
15,436,000,000
|
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15. Current corporate income tax |
3,859,000,000 |
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16. Deferred corporate income tax |
0 |
|
17. Interest from subsidiaries/related companies |
0 |
|
18. Profit after tax |
11,577,000,000
|
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FINANCIAL RATIOS AND AVERAGE INDUSTRY RATIOS
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Description |
FY2010
|
Average
Industry |
|
Current liquidity ratio |
1.15 |
1.45 |
|
Quick liquidity ratio |
0.68 |
0.87 |
|
Inventory circle |
24.32 |
7.48 |
|
Average receive period |
15.52 |
64.15 |
|
Utilizing asset performance |
10.09 |
2.38 |
|
Liability by total assets |
87.00 |
69.14 |
|
Liability by owner's equity |
669.48 |
281.46 |
|
Ebit / Total assets (ROA) |
10.96 |
10.33 |
|
Ebit / Owner's equity (ROE) |
84.32 |
35.61 |
|
Ebit / Total revenue (NPM) |
1.09 |
4.71 |
|
Gross profit / Total revenue (GPM) |
1.49 |
15.43 |
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Note: The Average Industry was calculated by VietnamCredit
based on our own statistical data |
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PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
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Trade Morality |
|
Normal |
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Liquidity |
|
Low/Medium |
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Payment status |
|
Average |
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Financial Situation |
|
Above Average |
|
Development trend |
|
Developing |
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Litigation data |
|
No Record |
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Bankruptcy |
|
No Record |
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Payment Methods |
|
By cash or through the bank |
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Sale Methods |
|
Retailer and Wholesaler |
INTERPRETATION ON THE SCORES
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HOA
THUAN TRADING CO., LTD was established in 2002 under
the Business Registration No. 4102011951, issued on Oct 03rd ,
2002. Currently, the subject is operating under the Business Registration No.
0302741420 with registered capital VND 8 billion. Its
head office is located at “No. 266 Co Bac Str - Co Giang
Ward - District 1 - Ho Chi Minh City –
Vietnam”. Total workforce
is about 10 employees. It is specializing in
trading rubber products. The main
products are the natural rubber products such as SVR
3L, SVR 10, SVR 20, RSS3. SVR5, SVRL. The subject has used the main materials in country. Its products are consumed well in domestic
market. In addition, it exports its products to Australia, New
Zealand, Japan, USA, UAE, England, Malaysia, France, Singapore, Taiwan,
China, Mexico, Brazil, Argentina, Pakistan, Russia, Romania, Bangladesh,
Phillipines, Uruguay, Turkey, Spain…. so on. The makert share of the subject is
remarkable ( Asian Market 50%, European Market 25%, Middle
East Market 10%, American Market 15%). Generally,
the subject has operated normally at the small-medium scale and can be able
to meet all normal business transactions. |
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APPENDIX 2
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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) |
||
|
2010 |
2009 |
|||||
|
Agriculture,
Forestry and Fishing |
2.78 |
1.82 |
8,749 |
23,896.3 |
81,559 |
|
|
Industry
and Construction |
7.70 |
5.52 |
85,115 |
10,630 |
2,751,975 |
|
|
Trade
and Services |
7.52 |
6.63 |
154,978 |
14,522 |
4,939,069 |
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ECONOMIC
INDICATORS |
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|
2010 |
2009 |
2008 |
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|
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 |
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Billion USD |
2010 |
2009 |
2008 |
|||
|
Exports |
72.2 |
57.1 |
62.7 |
|||
|
Imports |
84.8 |
69.9 |
80.7 |
|||
|
Trade Balance |
-12.6 |
-12.8 |
-18 |
|||
Source: General
Statistics Office
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.64 |
|
|
1 |
Rs.78.35 |
|
Euro |
1 |
Rs.65.79 |
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.