MIRA INFORM REPORT

 

 

Report Date :

28.05.2012

 

IDENTIFICATION DETAILS

 

Name :

GENERAL IMPORT AND EXPORT VAN XUAN CORPORATION  - BRANCH IN HO CHI MINH CITY 

 

 

Registered Office :

138 Cong Hoa, Ward 4, Tan Binh Dist, Ho Chi Minh City

 

 

Country :

Vietnam

 

 

Year of Establishment :

1997

 

 

Com. Reg. No.:

0100773645-001

 

 

Legal Form :

Branch

 

 

Line of Business :

Defence activities

 

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Vietnam

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

 

English Name

 

GENERAL IMPORT AND EXPORT VAN XUAN CORPORATION  - BRANCH IN HO CHI MINH CITY

Vietnamese Name

 

TONG CONG TY XUAT NHAP KHAU TONG HOP VAN XUAN-CHI NHANH TP HO CHI MINH

Type of Business

 

Branch

Year of established

 

1997

Business Registration No.

 

0100773645-001

Date of Registration

 

21 Dec 1998

Place of Registration

 

Business Registration Office – Planning and Investment Department of Ho Chi Minh City

Tax code

 

0100773645-001

Total Employees

 

15

 

 

company ADDRESSES

 

Head Office

Address

 

138 Cong Hoa, Ward 4, Tan Binh Dist, Ho Chi Minh City, Vietnam

Telephone

 

(84 8) 3842 9187

Fax

 

(84 8) 3842 9189

Note:

The given address (123 Cong Hoa) is not correct.

 

 

DIRECTORS

 

1. NAME

 

Mr. NGUYEN MINH TUAN

Position

 

Legal Representer

ID Number/Passport

 

6A8E110241

Nationality

 

Vietnamese

 

2. NAME

 

Ms. VU THI LINH

Position

 

Chief Accountant

Nationality

 

Vietnamese

BUSINESS NATURE AND ACTIVITIES

 

Defence activities

 

 

IMPORT & EXPORT ACTIVITIES

 

IMPORT:

·         Types of products

 

Products, equipment used in defense

·         Market

 

US, Iraq, Russia

 

EXPORT:

Note: Currently, the subject does not export

 

 

 

BANKERS

 

MILITARY COMMERCIAL JOINT STOCK BANK HO CHI MINH BRANCH

Address

 

No.18B Cong Hoa Street, Ward 4 , Tan Binh District, Ho Chi Minh City, Vietnam

Telephone

 

(84-8) 3811 8090 / 3811 0140

Fax

 

(84-8) 3811 8082

 

 

SHAREHOLDERS

 

NAME

 

GENERAL IMPORT AND EXPORT VANXUAN CORPORATION

Tax code

 

0100773645

Address

 

No.1B Hoang Dieu Street Quan Thanh Ward, Ba Dinh District, Ha Noi City, Vietnam

Tel

 

(84-4) 37335443

Fax

 

(84-4) 38232939

Percentage

 

100%

 

FINANCIAL DATA

 

N/A

 

PAYMENT HISTORY & PERFORMANCE EXPERIENCES

 

Trade Morality

 

Fair

Liquidity

 

N/A

Payment status

 

N/A

Financial Situation

 

Above average

Development trend

 

N/A

Litigation data

 

No Record

Bankruptcy

 

No Record

Sale Methods

 

Wholesaler

 

 

CREDIT INQUIRY: 125,000 USD against DA in terms

Caution needed

 

INTERPRETATION ON THE SCORES

 

The subject was established in 1997 and a branch of GENERAL IMPORT AND EXPORT VANXUAN CORPORATION (VAXUCO) - a State owned company directly under Ministry of Defence (Vietnam).

In Vietnam, VAXUCO ranked first important in military sector (import and export of weapons) and is the most important company of the Ministry of Defence. The company granted the equivalent position in the Department of Defense and the Department under the Ministry of Defence.

VAXUCO is also the largest shareholder of OIL AND CHEMICAL COMPANY MILITARY and some other companies. In 1000 top rated largest business and achieve high growth rates, VAXUCO ranked 457 in 2008, and ranked 8th out of 10 largest military enterprises in Vietnam.

So, with the advantages and long history of development, the subject is considered having bright prospect in the future.

The BB credit estimated on the subject reflects that the subject has capacity to meet with all normal business 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)

2011

2010

Agriculture, Forestry and Fishing

4.00

2.78

8,749

23,896.3

81,559

Industry and Construction

5.53

7.70

85,115

10,630

2,751,975

Trade and Services

6.69

7.52

154,978

14,522

4,939,069

 

ECONOMIC INDICATORS

 

 

2011 

2010 

2009 

Population (Million person)

87.84

86.93

86.02

Gross Domestic Products (USD billion)

119

102.2

91

GDP Growth (%)

5.89

6.78

5.32

GDP Per Capita (USD/person/year)

1,300

1,160

1,080

Inflation (% Change in Composite CPI)

18.58

11.75

6.88

State Budget Deficit compared with GDP (%)

4.9

5.8

6.9

 

SERVICE TRADE PERFORMANCE

 

Billion USD 

2011 

2010 

2009 

Exports

96.3

72.2

57.1

Imports

105.8

84.8

69.9

Trade Balance

-9.5

-12.6

-12.8

Source: General Statistics Office

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.73

UK Pound

1

Rs.87.26

Euro

1

Rs.69.89

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.