MIRA
INFORM REPORT
|
Report Date : |
11.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
NTACO CORPORATION |
|
|
|
|
Registered Office : |
No. 99 Hung Vuong Str. - My Quy Ward Industrial Park, Long Xuyen City, An Giang Province |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Year of Establishment : |
2000 |
|
|
|
|
Com. Reg. No.: |
5203000066 |
|
|
|
|
Legal Form : |
Corporation |
|
|
|
|
Line of Business : |
Trading and aquaculture (Tra and Basa fish) |
|
|
|
|
No. of Employees : |
1,561 |
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Viet Nam |
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 |
|
NTACO CORPORATION |
|
Vietnamese Registered Name |
|
CONG TY CO PHAN NTACO |
|
Registered Short name |
|
NTACO CO. |
|
Type of Business |
|
Corporation |
|
Year Established |
|
2000 |
|
Business Registration No. |
|
5203000066 |
|
Date of Registration |
|
14 Apr 2007 |
|
Place of Registration |
|
Department of Planning and Investment of
Angiang Province |
|
Current registered capital |
|
VND 100,000,000,000 |
|
Status |
|
Listed |
|
Stock symbol |
|
ATA |
|
Stock Market |
|
HOSE |
|
Outstanding stock |
|
10,000,000 |
|
Tax code |
|
1600513044 |
|
Total Employees |
|
1,561 |
Historical Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Registered English
Name: TUAN ANH CO., LTD Changed to: NTACO CORPORATION |
11
Apr 2007 |
|
2 |
Subject has got former Type of Business:
Limited company Changed to: Joint stock company |
11
Apr 2007 |
|
3 |
Subject has got former Registered capital:
2,700,000,000 VND Changed to: 100,000,000,000 VND |
N/A |
ADDRESSES
|
||
|
|
||
|
Head Office |
||
|
Address |
|
No. 99 Hung Vuong Str. - My Quy Ward
Industrial Park, Long Xuyen City, An Giang Province, Vietnam |
|
Telephone |
|
84-76 3931931 / 3931479 |
|
Fax |
|
84-76 3931797 |
|
Email |
|
|
|
Website |
|
|
|
|
||
DIRECTORS
|
||
|
|
||
|
1.
NAME |
|
Mr.
NGUYEN TUAN ANH |
|
Position |
|
Chairman and General Director |
|
Date of Birth |
|
15 Aug 1960 |
|
ID Number/Passport |
|
351220913 |
|
ID Issue Date |
|
28 Aug 2007 |
|
ID Issue Place |
|
Police Station of
Angiang Province |
|
Resident |
|
No. 99 Hung Vuong
Str. - My Quy Industrial Park, Long Xuyen City, An Giang Province, Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
84-76 3931579 |
|
|
||
|
2.
NAME |
|
Mr.
PHAN NGOC PHUOC |
|
Position |
|
Vice General Director |
|
Date of Birth |
|
24 Nov 1960 |
|
ID Number/Passport |
|
352053060 |
|
ID Issue Date |
|
15 Mar 2007 |
|
ID Issue Place |
|
Police Station of
Angiang Province |
|
Resident |
|
No. 4 Phan Thanh Long
- My Long, Long Xuyen City, An Giang Province, Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
++84 918658889 |
|
Qualification |
|
MA of finance |
|
|
||
|
3.
NAME |
|
Ms.
LE THI BICH THUY |
|
Position |
|
Chief Accountant |
|
Date of Birth |
|
29 Sep 1978 |
|
ID Number/Passport |
|
351275169 |
|
ID Issue Date |
|
06 Aug 2007 |
|
ID Issue Place |
|
Police Station of
Angiang Province |
|
Resident |
|
No. 99 Hung Vuong
Str. - My Quy Industrial Park, Long Xuyen City, An Giang Province, Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
84-76 3931477 |
|
|
||
|
4.
NAME |
|
Ms.
NGUYEN THI DUNG |
|
Position |
|
Vice General Director |
|
Nationality |
|
Vietnamese |
|
|
||
BUSINESS NATURE AND ACTIVITIES
|
|
|
|
The principal activities of this subject are: |
|
|
IMPORT & EXPORT ACTIVITIES
|
||
|
|
||
|
IMPORT: |
||
|
·
Types of products |
|
Materials and machines |
|
·
Market |
|
Japan, China, India, Singapore and Germany |
|
·
Ratio |
|
N/A |
|
·
Mode of payment |
|
L/C, T/T |
|
|
||
|
EXPORT: |
||
|
·
Types of products |
|
Products |
|
·
Market |
|
European Countries, Korea, China, Canada, Australia |
|
·
Ratio |
|
N/A |
|
·
Mode of payment |
|
L/C, T/T |
|
|
||
BANKERS
|
||
|
|
||
|
1.
VIETNAM EXPORT IMPORT COMMERCIAL JOINT STOCK BANK AN GIANG BRANCH |
||
|
Address |
|
No.70-72 Hai Ba Trung Street, Long Xuyen City, An Giang Province,
Vietnam |
|
Telephone |
|
(84-76) 3940 880 |
|
Fax |
|
(84-76) 3940 884 |
|
|
||
|
2.
VIETNAM DEVELOPMENT BANK HA GIANG BRANCH |
||
|
Address |
|
Nguyen Trai Ward, Ha Giang City, Ha Giang Province, Vietnam |
|
Telephone |
|
84-219 3867201 |
|
Fax |
|
84-219 3868742 |
|
|
||
SHAREHOLDERS
|
||
|
|
||
|
1.
NAME |
|
Mr.
NGUYEN TUAN ANH |
|
Position |
|
Chairman and General Director |
|
Date of Birth |
|
15 Aug 1960 |
|
ID Number/Passport |
|
351220913 |
|
Issued on |
|
28 Aug 2007 |
|
Issued Place |
|
Police Station of Angiang Province |
|
Resident |
|
No. 99 Hung Vuong Str. - My Quy Industrial
Park, Long Xuyen City, An Giang Province, Vietnam |
|
Work phone |
|
84-76 3931579 |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
5,500,000 |
|
Value of shares |
|
VND 55,000,000,000 |
|
|
||
|
2.
NAME |
|
Ms.
VO THI HONG HANH |
|
Date of Birth |
|
05 Aug 1970 |
|
ID Number/Passport |
|
351001966 |
|
Issued on |
|
11 Oct 1999 |
|
Issued Place |
|
Police Station of Angiang Province |
|
Resident |
|
No. 139B9 Huynh Thuc Khang - Binh Khanh,
Long Xuyen City, An Giang Province, Vietnam |
|
Mobile phone |
|
++84 909336339 |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
500,000 |
|
Value of shares |
|
VND 5,000,000,000 |
|
|
||
|
3.
NAME |
|
Mr.
NGUYEN TUAN SI |
|
Date of Birth |
|
02 Sep 1964 |
|
ID Number/Passport |
|
350503893 |
|
Issued on |
|
03 Sep 2003 |
|
Issued Place |
|
Police Station of Angiang Province |
|
Resident |
|
No. 180B8 Huynh Thuc Khang - Binh Khanh
Long, Long Xuyen City, An Giang Province, Vietnam |
|
Mobile phone |
|
++84 913877544 |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
500,000 |
|
Value of shares |
|
VND 5,000,000,000 |
|
|
||
FINANCIAL DATA
|
|||
|
|
|||
|
Subject’s financial statements were audited by IFC-ACAGroup |
|||
|
BALANCE
SHEET |
|||
Unit: One VND
|
|||
|
Balance sheet
date |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
Number of weeks |
52 |
52 |
52 |
|
Audited |
N/A |
Audited |
Audited |
ASSETS
|
|||
|
A – CURRENT
ASSETS |
526,625,539,604 |
570,979,789,468 |
375,300,303,658 |
|
I. Cash and cash
equivalents |
11,141,097,171 |
17,932,280,182 |
8,386,688,309 |
|
1. Cash |
11,141,097,171 |
9,432,280,182 |
8,386,688,309 |
|
2. Cash equivalents |
0 |
8,500,000,000 |
0 |
|
II. Short-term
investments |
34,830,500,000 |
39,645,500,000 |
22,530,000,000 |
|
1. Short-term investments |
34,830,500,000 |
39,645,500,000 |
22,530,000,000 |
|
2. Provisions for devaluation of short-term investments |
0 |
0 |
0 |
|
III. Accounts
receivable |
157,430,601,929 |
232,192,608,954 |
173,469,792,579 |
|
1. Receivable from customers |
81,191,153,175 |
124,922,204,894 |
109,749,442,481 |
|
2. Prepayments to suppliers |
74,775,126,649 |
102,682,564,564 |
63,019,231,415 |
|
3. Inter-company receivable |
0 |
0 |
0 |
|
4. Receivable according to the progress of construction |
0 |
0 |
0 |
|
5. Other receivable |
1,978,314,727 |
4,989,969,703 |
857,714,953 |
|
6. Provisions for bad debts |
-513,992,622 |
-402,130,207 |
-156,596,270 |
|
IV. Inventories |
316,183,256,277 |
274,554,800,880 |
168,843,535,091 |
|
1. Inventories |
316,183,256,277 |
274,554,800,880 |
168,843,535,091 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
0 |
|
V. Other Current
Assets |
7,040,084,227 |
6,654,599,452 |
2,070,287,679 |
|
1. Short-term prepaid expenses |
371,611,853 |
163,324,320 |
172,143,010 |
|
2. VAT to be deducted |
2,866,776,149 |
786,982,557 |
477,181,973 |
|
3. Taxes and other accounts receivable from the State |
0 |
0 |
133,692,577 |
|
4. Other current assets |
3,801,696,225 |
5,704,292,575 |
1,287,270,119 |
|
B. LONG-TERM
ASSETS |
164,231,541,755 |
165,836,398,846 |
122,159,671,521 |
|
I. Long term
accounts receivable |
132,825,454 |
594,927,500 |
0 |
|
1. Long term account receivable from customers |
0 |
0 |
0 |
|
2. Working capital in affiliates |
0 |
0 |
0 |
|
3. Long-term inter-company receivable |
0 |
0 |
0 |
|
4. Other long-term receivable |
132,825,454 |
594,927,500 |
0 |
|
5. Provisions for bad debts from customers |
0 |
0 |
0 |
|
II. Fixed assets
|
160,486,536,849 |
161,471,722,300 |
120,666,415,228 |
|
1. Tangible assets |
73,907,835,989 |
69,411,788,763 |
64,108,275,581 |
|
- Historical costs |
111,138,138,326 |
98,462,956,122 |
86,183,110,947 |
|
- Accumulated depreciation |
-37,230,302,337 |
-29,051,167,359 |
-22,074,835,366 |
|
2. Financial leasehold assets |
15,198,867,467 |
12,385,712,547 |
9,237,475,186 |
|
- Historical costs |
19,419,313,473 |
15,674,814,253 |
11,505,002,326 |
|
- Accumulated depreciation |
-4,220,446,006 |
-3,289,101,706 |
-2,267,527,140 |
|
3. Intangible assets |
24,552,424,821 |
24,552,424,821 |
24,552,424,821 |
|
- Initial costs |
24,552,424,821 |
24,552,424,821 |
24,552,424,821 |
|
- Accumulated amortization |
0 |
0 |
0 |
|
4. Construction-in-progress |
46,827,408,572 |
55,121,796,169 |
22,768,239,640 |
|
III. Investment
property |
0 |
0 |
0 |
|
Historical costs |
0 |
0 |
0 |
|
Accumulated depreciation |
0 |
0 |
0 |
|
IV. Long-term
investments |
1,335,000,000 |
1,335,000,000 |
0 |
|
1. Investments in affiliates |
0 |
0 |
0 |
|
2. Investments in business concerns and joint ventures |
0 |
0 |
0 |
|
3. Other long-term investments |
1,335,000,000 |
1,335,000,000 |
0 |
|
4. Provisions for devaluation of long-term investments |
0 |
0 |
0 |
|
V. Other
long-term assets |
2,277,179,452 |
2,434,749,046 |
1,493,256,293 |
|
1. Long-term prepaid expenses |
1,510,757,926 |
1,668,327,520 |
980,834,767 |
|
2. Deferred income tax assets |
0 |
0 |
0 |
|
3. Other long-term assets |
766,421,526 |
766,421,526 |
512,421,526 |
|
VI. Goodwill |
0 |
0 |
0 |
|
1. Goodwill |
0 |
0 |
0 |
|
TOTAL ASSETS |
690,857,081,359 |
736,816,188,314 |
497,459,975,179 |
|
|
|||
LIABILITIES
|
|||
|
A- LIABILITIES |
533,469,970,540 |
583,201,845,421 |
369,240,350,808 |
|
I. Current
liabilities |
500,979,743,051 |
533,994,614,640 |
355,414,528,839 |
|
1. Short-term debts and loans |
467,937,415,252 |
463,086,495,414 |
314,833,384,363 |
|
2. Payable to suppliers |
21,053,056,469 |
33,129,611,952 |
24,180,378,138 |
|
3. Advances from customers |
1,123,760,157 |
32,659,114,662 |
7,714,973,979 |
|
4. Taxes and other obligations to the State Budget |
1,640,213,374 |
1,653,492,286 |
3,431,056,581 |
|
5. Payable to employees |
1,428,910,236 |
1,229,816,571 |
1,864,724,562 |
|
6. Accrued expenses |
2,861,922,566 |
223,340,743 |
208,324,312 |
|
7. Inter-company payable |
0 |
0 |
0 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
0 |
|
9. Other payable |
3,907,837,266 |
2,012,743,012 |
3,181,686,904 |
|
10. Provisions for short-term accounts payable |
1,026,627,731 |
0 |
0 |
|
II. Long-Term
Liabilities |
32,490,227,489 |
49,207,230,781 |
13,825,821,969 |
|
1. Long-term accounts payable to suppliers |
8,606,691,923 |
17,707,835,075 |
0 |
|
2. Long-term inter-company payable |
0 |
0 |
0 |
|
3. Other long-term payable |
0 |
0 |
0 |
|
4. Long-term debts and loans |
23,782,773,096 |
31,398,633,236 |
13,725,059,499 |
|
5. Deferred income tax payable |
0 |
0 |
0 |
|
6. Provisions for unemployment allowances |
100,762,470 |
100,762,470 |
100,762,470 |
|
7. Provisions for long-term accounts payable |
0 |
0 |
0 |
|
B- OWNER’S
EQUITY |
157,387,110,819 |
153,614,342,893 |
128,219,624,371 |
|
I. OWNER’S
EQUITY |
157,387,110,819 |
153,373,817,731 |
127,977,769,680 |
|
1. Capital |
119,999,980,000 |
100,000,000,000 |
100,000,000,000 |
|
2. Share premiums |
0 |
0 |
0 |
|
3. Other sources of capital |
0 |
0 |
0 |
|
4. Treasury stocks |
0 |
0 |
0 |
|
5. Differences on asset revaluation |
0 |
0 |
0 |
|
6. Foreign exchange differences |
-1,023,610,084 |
-276,932,511 |
-212,251,451 |
|
7. Business promotion fund |
0 |
0 |
0 |
|
8. Financial reserved fund |
0 |
0 |
0 |
|
9. Other funds |
0 |
0 |
0 |
|
10. Retained earnings |
38,410,740,903 |
53,650,750,242 |
28,190,021,131 |
|
11. Construction investment fund |
0 |
0 |
0 |
|
II. Other
sources and funds |
0 |
240,525,162 |
241,854,691 |
|
1. Bonus and welfare funds |
0 |
240,525,162 |
241,854,691 |
|
2. Sources of expenditure |
0 |
0 |
0 |
|
3. Fund to form fixed assets |
0 |
0 |
0 |
|
MINORITY’S
INTEREST |
0 |
0 |
0 |
|
TOTAL
LIABILITIES AND OWNER’S EQUITY |
690,857,081,359 |
736,816,188,314 |
497,459,975,179 |
|
|
|||
|
PROFIT
& LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2011 |
FY2010 |
FY2009 |
|
1. Total Sales |
637,024,413,459 |
707,109,614,811 |
441,520,069,663 |
|
2. Deduction item |
278,910,296 |
633,248,400 |
5,302,651,941 |
|
3. Net revenue |
636,745,503,163 |
706,476,366,411 |
436,217,417,722 |
|
4. Costs of goods sold |
515,883,115,105 |
578,109,399,989 |
358,428,757,973 |
|
5. Gross profit |
120,862,388,058 |
128,366,966,422 |
77,788,659,749 |
|
6. Financial income |
7,681,105,166 |
14,989,520,796 |
18,014,751,307 |
|
7. Financial expenses |
77,880,028,287 |
45,025,151,469 |
24,423,071,159 |
|
- In which: Loan interest expenses |
75,240,997,696 |
39,042,906,904 |
24,345,629,087 |
|
8. Selling expenses |
14,886,249,180 |
32,088,345,657 |
22,783,758,899 |
|
9. Administrative overheads |
13,594,946,548 |
13,995,433,968 |
12,213,599,965 |
|
10. Net operating profit |
22,182,269,209 |
52,247,556,124 |
36,382,981,033 |
|
11. Other income |
102,491,650 |
5,246,628,938 |
2,354,023,695 |
|
12. Other expenses |
225,000,000 |
4,560,449,615 |
182,656,305 |
|
13. Other profit /(loss) |
-122,508,350 |
686,179,323 |
2,171,367,390 |
|
14. Total accounting profit before tax |
22,059,760,859 |
52,933,735,447 |
38,554,348,423 |
|
15. Current corporate income tax |
1,548,583,762 |
6,594,061,636 |
2,345,434,748 |
|
16. Deferred corporate income tax |
0 |
0 |
0 |
|
17. Interest from subsidiaries/related companies |
0 |
0 |
0 |
|
18. Profit after tax |
20,511,177,097 |
46,339,673,811 |
36,208,913,675 |
|
|
||||
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||||
|
|
||||
|
Description |
FY2011 |
FY2010 |
FY2009 |
Average Industry |
|
Current liquidity ratio |
1.05 |
1.07 |
1.06 |
1.45 |
|
Quick liquidity ratio |
0.42 |
0.56 |
0.58 |
0.93 |
|
Inventory circle |
1.63 |
2.61 |
2.12 |
7.42 |
|
Average receive period |
90.24 |
119.96 |
145.15 |
68.87 |
|
Utilizing asset performance |
0.92 |
0.96 |
0.88 |
1.66 |
|
Liability by total assets |
77.22 |
79.15 |
74.23 |
63.62 |
|
Liability by owner's equity |
338.95 |
379.65 |
287.97 |
289.65 |
|
Ebit / Total assets (ROA) |
14.08 |
12.48 |
12.64 |
8.16 |
|
Ebit / Owner's equity (ROE) |
61.82 |
59.88 |
49.06 |
27.66 |
|
Ebit / Total revenue (NPM) |
15.27 |
13.01 |
14.25 |
5.74 |
|
Gross profit / Total revenue (GPM) |
18.97 |
18.15 |
17.62 |
11.21 |
|
Note: The Average Industry was calculated by VietnamCredit based on our own
statistical data |
||||
|
|
||||
|
CASH
FLOW STATEMENT |
|||
|
(Indirect method) |
|||
|
Items |
FY2011 |
FY2010 |
FY2009 |
|
I. Cash flows
from operating activities |
|||
|
1. Profit before tax |
22,059,760,859 |
52,933,735,447 |
38,554,348,423 |
|
2. Adjustments |
|
|
|
|
- Depreciation and amortization |
9,110,479,278 |
8,007,784,097 |
6,228,819,355 |
|
- Provisions |
-111,862,415 |
-245,533,937 |
-470,013,587 |
|
- Unrealized foreign exchange difference |
1,106,988,487 |
64,681,060 |
77,442,072 |
|
- Gain/loss from investing activities |
-2,648,308,714 |
19,921,890 |
0 |
|
- Interest expense |
75,240,997,696 |
39,042,906,904 |
24,345,629,087 |
|
3. Operating profit before movements in working
capital |
104,758,055,191 |
99,823,495,461 |
68,736,225,350 |
|
- (Increase)/Decrease in receivables |
74,472,947,368 |
-59,032,616,959 |
-68,033,366,719 |
|
- (Increase)/Decrease in inventories |
-41,628,455,397 |
-105,711,265,789 |
-29,698,545,126 |
|
- Increase/(Decrease) in accounts payable |
-38,551,472,670 |
32,104,539,045 |
3,030,899,779 |
|
- (Increase)/Decrease in prepaid expenses |
-50,717,939 |
-678,674,063 |
-268,921,270 |
|
- Interest paid |
-72,379,075,130 |
-39,042,906,904 |
-24,137,304,775 |
|
- Corporate income tax paid |
-1,388,949,858 |
-6,049,225,034 |
-521,310,623 |
|
- Other cash inflows |
0 |
0 |
0 |
|
- Other cash outflows |
0 |
0 |
0 |
|
Net cash from (used in) operating activities |
25,232,331,565 |
-78,586,654,243 |
-50,892,323,384 |
|
II. Cash flows
from investing activities |
|||
|
1. Acquisition of fixed assets and other long - term assets |
-4,380,794,607 |
-26,034,010,293 |
-32,340,875,631 |
|
2. Proceeds from fixed assets and long - term assets disposal |
0 |
11,428,572 |
85,493,493 |
|
3. Cash outflow for lending, buying debt instruments of other
companies |
-1,400,000,000 |
0 |
0 |
|
4. Cash recovered from lending, selling debt instruments of other
companies |
6,215,000,000 |
0 |
0 |
|
5. Investment in other entities |
0 |
-45,066,565,000 |
-21,050,000,000 |
|
6. Cash recovered from investments in other entities |
0 |
26,616,065,000 |
13,654,663,889 |
|
7. Interest income, dividend and profit paid |
2,648,308,714 |
0 |
0 |
|
Net cash from (used in) investing activities |
3,082,514,107 |
-44,473,081,721 |
-39,650,718,249 |
|
III. Cash flows
from financing activities |
|||
|
1. Proceeds from issuing stocks, receiving capital from owners |
0 |
0 |
0 |
|
2. Capital withdrawal, buying back issued stocks |
0 |
0 |
0 |
|
3. Proceeds from borrowings |
985,932,792,885 |
1,259,452,239,801 |
1,021,102,965,498 |
|
4. Repayment of borrowings |
-1,017,480,200,000 |
-1,106,762,006,000 |
-907,674,898,365 |
|
5. Repayment of obligations under finance leased |
-3,558,612,568 |
-3,084,905,964 |
-2,011,148,063 |
|
6. Dividends paid |
0 |
-17,000,000,000 |
-16,000,000,000 |
|
Net cash from (used in) financing activities |
-35,106,028,683 |
132,605,327,837 |
95,416,919,070 |
|
Net increase/(decrease) in cash and cash equivalents |
-6,791,183,011 |
9,545,591,873 |
4,873,877,437 |
|
Cash and cash equivalents at beginning of year |
17,932,280,182 |
8,386,688,309 |
3,512,810,872 |
|
Effect from changing foreign exchange rate |
0 |
0 |
0 |
|
Cash and cash equivalents at end of year |
11,141,097,171 |
17,932,280,182 |
8,386,688,309 |
|
|
||
PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
||
|
|
||
|
Trade Morality |
|
Fair |
|
Liquidity |
|
High |
|
Payment status |
|
Above Average |
|
Financial Situation |
|
Above Average |
|
Development trend |
|
Even |
|
Litigation data |
|
No |
|
Bankruptcy |
|
No |
|
Payment Methods |
|
L/C, T/T |
|
Sale Methods |
|
To contracts |
|
|
|
|
|
CREDIT INQUIRY: 125,000 USD Against DA in terms. Acceptable. |
|
|
INTERPRETATION ON THE SCORES
|
|
|
|
Set up
in 2000, NTACO CO is running by business registration No. 5203000066 granted
by Planning and Investment Department of An Giang Province. Now, subject is
taking to process an increase of capital from VND 100 billion to VND 120
billion on legal document. Subject focuses on manufacturing aquaculture
product. Factory is located at No. 99 Hung Vuong Str., My Quy Ward IP, Long
Xuyen City, An Giang Province which officially produced from Sep 2003 with
capacity of 33,600 tons/year. Initially,
subject focused on manufacturing and trading sea products, but now it expands
more business activity by producing carton packing. Financial
situation of subject was above average. In 2010, total sales decreased by 60%
in compared with 2009, but in 2011 subject’s this item decreased by 10%
against 2010. Costs of goods sold were not stable. Subject’s
liability ratios were not as good as average industry. Inventory circle was
slow. Subject did not manage well receive accounts too. In the
recent years, liabilities occupied a large proportion in total assets which was
74%, 79% and 77% respectively in 2009, 2010 and 2011. Although
the subject has just run for 11 years, it asserted its position in this
field. Less experience than other companies as AGIFISH CO., DOHACO.., etc,
however, potential finance and other resources of subject are not inferior to
these companies. The future prospect of this subject is bright. It has
capacity to meet all normal transactions. |
------------ 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) |
||
|
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 |
|
|
|
||||||
ECONOMIC INDICATORS
|
||||||
|
|
||||||
|
|
2010 |
2009 |
2008 |
|||
|
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 |
|||
|
|
||||||
SERVICE TRADE PERFORMANCE
|
||||||
|
|
||||||
|
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.