MIRA INFORM REPORT

 

 

Report Date :

23.02.2012

 

IDENTIFICATION DETAILS

 

Name :

THANH TUNG JOINT STOCK COMPANY

 

 

Registered Office :

No. 4/32, Che Huong Street, Dong Hai 1 Ward, Hai An District, Hai Phong City,

 

 

Country :

Vietnam

 

 

Date of Incorporation :

17.03.2005

 

 

Com. Reg. No.:

0203001338

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Import - export services, temporary import for re-export, trustee, delivery, tallying and customs declaration.

 

 

No. of Employees :

15

 

 

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 – 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

 

Registered English Name

 

THANH TUNG JOINT STOCK COMPANY

Registered Vietnamese Name

 

CONG TY CO PHAN THANH TUNG

Type of Business

 

Joint stock company

Year Established

 

2005

Business Registration No.

 

0203001338

Date of Registration

 

17 Mar 2005

Place of Registration

 

Planning and Investment Department of Hai Phong City

Current registered capital

 

VND 2,000,000,000

Status

 

Unlisted

Tax code

 

0200613331

Total Employees

 

15

 

 

ADDRESSES

 

Head Office

Address

 

No. 4/32, Che Huong Street, Dong Hai 1 Ward, Hai An District, Hai Phong City, Vietnam

Telephone

 

(84-31) 3769688

Fax

 

(84-31) 3769698

Note: The given address – No. 4/32, Che Huong Road, Dong H1.., Hai Phong is not correct (Dong Hai 1 Ward is not Dong H1).

 

 

DIRECTORS

 

NAME

 

Mr. LA QUANG THANH

Position

 

Director

Date of Birth

 

21 Jan 1974

ID Number/Passport

 

100659833

ID Issue Date

 

01 Aug 1994

ID Issue Place

 

Police Department of Quang Ninh Province

Resident

 

Group 5 Zone 7A, Bai Chay, Ha Long City, Quang Ninh Province, Vietnam

Nationality

 

Vietnamese

 

 

BUSINESS NATURE AND ACTIVITIES

 

The subject registered some business lines but its main operations are:

- Import - export services, temporary import for re-export, trustee, delivery, tallying and customs declaration.
- Transport and transport services.

 

 

IMPORT & EXPORT ACTIVITIES

 

IMPORT:

·              Types of products

 

China

 

EXPORT:

Note: Currently, the subject does not export.

 

 

BANKERS

 

VIET NAM BANK FOR AGRICULTURE AND RURAL DEVELOPMENT HONG BANG BRANCH

Address

 

No.72 Dien Bien Phu, Hong Bang District, Hai Phong City, Vietnam

Telephone

 

(84-31) 3521172

Fax

 

(84-31) 3521174

 

 

SHAREHOLDERS
 

1. NAME

 

Mr. LA QUANG THANH

Position

 

Director

Date of Birth

 

21 Jan 1974

ID Number/Passport

 

100659833

Issued on

 

01 Aug 1994

Issued Place

 

Police Department of Quang Ninh Province

Resident

 

Group 5 Zone 7A, Bai Chay, Ha Long City, Quang Ninh Province, Vietnam

Nationality

 

Vietnamese

Number of Shares

 

1,020

Value of shares

 

VND 1,020,000,000

Percentage

 

51%

 

2. NAME

 

Mr. HA MANH TUNG

ID Number/Passport

 

100612189

Resident

 

No. 59, CT3 D7 Dong Quoc Binh, Ngo Quyen District, Hai Phong City, Vietnam

Nationality

 

Vietnamese

Number of Shares

 

780

Value of shares

 

VND 780,000,000

Percentage

 

39%

 

3. NAME

 

Mr. HA DUC THANH

ID Number/Passport

 

030808423

Resident

 

Thuy Duong, Thuy Nguyen District, Hai Phong City, Vietnam

Nationality

 

Vietnamese

Number of Shares

 

200

Value of shares

 

VND 200,000,000

Percentage

 

10%

 

 

FINANCIAL DATA

 

N/A

 

 

PAYMENT HISTORY & PERFORMANCE EXPERIENCES

 

Trade Morality

 

Fair

Liquidity

 

N/A

Payment status

 

N/A

Financial Situation

 

Average

Development trend

 

Stable

Litigation data

 

No Record

Bankruptcy

 

No Record

Payment Methods

 

T/T, L/C

Sale Methods

 

Other

Public opinion

 

Normal

 

 

 

INTERPRETATION ON THE SCORES

 

THANH TUNG JOINT STOCK COMPANY was founded in 2005 under the business registration no. 0203001338, granted by Planning and Investment Department of Hai Phong City. The registered capital of subject was VND 2 billion with 3 shareholders.

The subject’s head office located at No. 4/32, Che Huong Street, Dong Hai 1 Ward, Hai An District, Hai Phong City, Vietnam. The labor force is about 15 peoples in the whole company including seasonal employees.

The subject registered some business lines but its main operations are:

- Import - export services, temporary import for re-export, trustee, delivery, tallying and customs declaration.
- Transport and transport services.

In an interview with Mr. Thanh – Director of subject, he said that, the subject mainly operates in import – export services with Chinese partners (China imports all goods from many countries and it exports to Vietnam. After that, China requires the subject to import and export services for goods in to Vietnam). Mr. Thanh also added that, the subject only work with China hence he is not co-operative in provide the financial data.

In general, the subject is considered a small company. Besides, Haiphong is the largest port city in the North of Vietnam, in that will has many companies like subject. Hence, it has to face with many difficulties in competing with other companies in industry. Its future prospect is normal. Currently, the subject has ability to meet small financial commitments

 

 

 

------------ 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.49.24

UK Pound

1

Rs.76.75

Euro

1

Rs.65.16

 

 

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.