MIRA
INFORM REPORT
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Report Date : |
20.01.2012 |
IDENTIFICATION DETAILS
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Name : |
PHUONG DONG PRODUCTION - TRADING - SERVICE COMPANY LIMITED |
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Registered Office : |
No. 33/25 Hoang Dieu Street, Ward 10, Phu Nhuan District, Ho Chi Minh City |
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Country : |
Vietnam |
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Financials (as on) : |
26.02.1998 |
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Date of Incorporation : |
31.12.2009 |
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Com. Reg. No.: |
045224 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Specializes in manufacturing instant noodle with brand name FUDO. |
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No. of Employees : |
40 |
RATING & COMMENTS
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MIRAs 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 : |
Moderate |
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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
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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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PHUONG DONG PRODUCTION - TRADING - SERVICE
COMPANY LIMITED |
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Registered Vietnamese Name |
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CONG TY TNHH SAN XUAT - THUONG MAI - DICH
VU PHUONG DONG |
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Registered Short name |
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FUDO 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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1998 |
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Establishment Decision |
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411 |
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Date of Issuance |
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26 Feb 1998 |
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Place of Issuance |
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People Committee of Hochiminh City |
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Business Registration No. |
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045224 |
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Date of Registration |
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10 Jul 1998 |
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Place of Registration |
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Planning and Investing Department of Ho
Chi Minh City |
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Current registered capital |
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VND 2,496,000,000 |
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Tax code |
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0301463844 |
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Total Employees |
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40 |
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ADDRESSES
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Head Office |
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Address |
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No. 33/25 Hoang Dieu Street, Ward 10, Phu
Nhuan District, Ho Chi Minh City, Vietnam |
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Telephone |
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(84-8) 3845 4004 |
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Note: Almost activities of subject are took place at its factory. |
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Factory Address |
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Address |
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No. 8/30A Hamlet 4, Dong Thanh Commune,
Hoc Mon District, Ho Chi Minh City, Vietnam |
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Telephone |
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(84-8) 3711 0051 - 3711 0903 - 3711 0296 |
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Fax |
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(84-8) 3711 0050 |
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Email |
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Occupied Area |
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4500 m2 |
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DIRECTORS
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1.
NAME |
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Mr.
NGUYEN VIET THANG |
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Position |
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Director - Legal representative |
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Date of Birth |
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04 Jun 1960 |
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ID Number/Passport |
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023139960 |
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ID Issue Date |
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24 May 1993 |
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ID Issue Place |
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Police Station of
Hochiminh City |
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Resident |
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No. 43/29 Hoang Dieu
Street, Ward 10, Phu Nhuan District, Ho Chi Minh City, Vietnam |
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Nationality |
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Vietnamese |
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Tel/Mobil phone |
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(84-8) 3711 0296 +84 983 348 079 |
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Email |
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Qualification |
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Management |
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2.
NAME |
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Ms.
NGUYEN THI HUONG GIANG |
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Position |
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Deputy Director |
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ID Number/Passport |
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032415968 |
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Resident |
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No.43/29 Hoang Dieu
Street- Ward 10, Phu Nhuan District, Ho Chi Minh City, Vietnam |
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Nationality |
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Vietnamese |
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Note: She is wife of Mr. NGUYEN VIET THANG |
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BUSINESS NATURE AND ACTIVITIES
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Subject
specializes in manufacturing instant noodle with brand name FUDO. |
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IMPORT & EXPORT ACTIVITIES
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IMPORT: |
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·
Types of products |
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Materials. |
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Market |
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India and from foreign suppliers in domestic. |
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EXPORT: |
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·
Types of products |
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Instant noodle |
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·
Market |
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USA, Singapore and Czechoslovakia. |
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BANKERS
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1.
ASIA COMMERCIAL BANK AN SUONG BRANCH |
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Address |
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1/6 Truong Chinh, Tan Thoi Nhat ward, 12 District, Ho Chi Minh City,
Vietnam |
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Telephone |
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(84-8) 6255 7793 |
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Fax |
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(84-8) 6255 7794 |
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2.
JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM TAN BINH BRANCH |
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Address |
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No.1G Room,Tannioffice Building No.108 Tay Thanh,Tay Thanh Ward, Tan
Binh District, Ho Chi Minh City, Vietnam |
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Telephone |
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(84-8) 3810 6454 |
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Fax |
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(84-8) 3810 6838 |
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SHAREHOLDERS
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1.
NAME |
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Mr.
NGUYEN VIET THANG |
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Position |
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Director - Legal representative |
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Date of Birth |
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04 Jun 1960 |
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ID Number/Passport |
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023139960 |
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Issued on |
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24 May 1993 |
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Issued Place |
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Police Station of Hochiminh City |
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Resident |
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No. 43/29 Hoang Dieu Street, Ward 10, Phu
Nhuan District, Ho Chi Minh City, Vietnam |
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Email |
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Work phone |
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(84-8) 3711 0296 |
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Mobile phone |
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+84 983 348 079 |
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Nationality |
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Vietnamese |
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Value of shares |
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VND 2,256,000,000 |
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Percentage |
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90.38% |
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2.
NAME |
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Mr.
NGUYEN VIET TRUNG |
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ID Number/Passport |
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023815447 |
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Issued on |
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04 Aug 2000 |
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Issued Place |
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Police Station of Ho Chi Minh City |
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Resident |
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No. 16/4 Dang Van Ngu Street, Ward 10, Phu
Nhuan District, Ho Chi Minh City, Vietnam |
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Current Resident |
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No. 3E9 Tran Nao Street, Binh An Ward, 2
District, Ho Chi Minh City, Vietnam |
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Nationality |
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Vietnamese |
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Value of shares |
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VND 240,000,000 |
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Percentage |
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9.62% |
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FINANCIAL HIGHLIGHT
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BALANCE
SHEET |
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Unit: Million VND
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Balance sheet
date |
31/12/2009 |
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Number of weeks |
52 |
ASSETS
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A. Current Asset
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2,326 |
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Receivables |
1,001 |
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Inventory |
1,325 |
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Cash and other current assets |
0 |
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B. Long term
Asset |
459 |
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1. Long term account receivable |
0 |
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2. Fixed assets |
459 |
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Tangible fixed assets |
345 |
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+ Original cost |
2,010 |
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+ Accumulated depreciation value |
-1,665 |
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Financial leasehold assets |
0 |
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Intangible fixed assets |
0 |
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Construction in progress and other long term asset |
114 |
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TOTAL ASSETS |
2,785 |
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LIABILITIES
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Payable loans |
2,381 |
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Owners Equity |
404 |
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TOTAL LIABILITY
AND EQUITY |
2,785 |
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PROFIT & LOSS
STATEMENT
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1. Total Sales |
6,068 |
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2. Deduction item |
0 |
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3. Net revenue |
6,068 |
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4. Costs of goods sold |
5,191 |
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5. Gross profit |
877 |
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6. Financial income |
1 |
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7. Financial expenses |
1 |
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8. Selling expenses and Administrative overheads |
534 |
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9. Net operating profit |
343 |
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10. Other income |
4 |
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11. Other expenses |
0 |
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12. Other profit /(loss) |
4 |
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13. Total accounting profit before tax |
347 |
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14. Current corporate income tax |
85 |
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15. Deferred corporate income tax |
0 |
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16. Interest from subsidiaries/related companies |
0 |
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17. Profit after tax |
262 |
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PAYMENT HISTORY & PERFORMANCE EXPERIENCES
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Trade Morality |
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Fair |
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Liquidity |
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N/A |
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Payment status |
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N/A |
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Financial Situation |
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Average |
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Development trend |
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N/A |
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Litigation data |
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No Record |
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Bankruptcy |
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No Record |
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Payment Methods |
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Through the banks, L/C. |
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Sale Methods |
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Retailer |
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Public opinion |
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Normal |
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CREDIT INQUIRY: 125,000 USD Against da interms |
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Caution needed! |
INTERPRETATION ON THE SCORES
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FUDO
CO., LTD was established in 1998
under business registration No. 045224 issued by Business
Registration Office of Hochiminh City. During operation, the subject has
changed its business registration four times, the last time was on 18 Nov
2004. It registered capital is VND 2,496,000,000. Subject registered at No. 33/25
Hoang Dieu Street, Ward 10, Phu Nhuan District, Ho Chi Minh City. However,
almost activities of subject are took place at its factory in No. 8/30A
Hamlet 4, Dong Thanh Commune, Hoc Mon District, Ho Chi Minh City. This
factory has about 4,500 m2. According to Mr. Nguyen Viet Thang Director, in
2012, subject will build a new factory in Industrial Area of Nhon Trach
Dong Nai Province and will move all to the new factory. Subject
specializes in manufacturing instant noodle with brand name FUDO. At present,
subject seldom imports materials from foreign, subject imports a little from
India. Subject mainly collects materials, packaging from foreign suppliers in
domestic market. Products of subject (instant noodle type of 1 kg or 500 gr)
are exported to USA, Singapore and Czechoslovakia. Regarding
to Mr. Nguyen Viet Thang, at present, subject is finding and choosing more
partners in foreign. The
subjects owners started running business since 1990s so he has many
experience in this field. Besides, Mr. Nguyen Viet Trung shareholder of
subject is also director of another company named CAC COMPANY LIMITED. At
present, subject has about 40 staff. Revenue and profit of subject in 2009
were small. However, Mr. Nguyen Viet Trung said that revenue in 2010 and 2011
increased more (but he did not give us detail). In
general, the subject is a small enterprise. With B ranking, it has capacity
for small size payment. |
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------------ APPENDIX ----------
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) |
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2010 |
2009 |
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Agriculture,
Forestry and Fishing |
2.78 |
1.82 |
8,749 |
23,896.3 |
81,559 |
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Industry and
Construction |
7.70 |
5.52 |
85,115 |
10,630 |
2,751,975 |
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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 |
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Gross Domestic Products (US$
billion) |
102.2 |
91 |
84.9 |
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GDP Growth (%) |
6.78 |
5.32 |
6.2 |
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GDP Per Capita (US$) |
1,160 |
1,080 |
1,040 |
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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 |
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Exports |
72.2 |
57.1 |
62.7 |
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Imports |
84.8 |
69.9 |
80.7 |
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Trade Balance |
-12.6 |
-12.8 |
-18 |
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Source: General
Statistics Office
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.29 |
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|
1 |
Rs.77.60 |
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Euro |
1 |
Rs.64.67 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
This score serves as a reference to assess SCs 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.