|
Report Date : |
15.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
AN MY FISH JOINT STOCK COMPANY |
|
|
|
|
Registered Office : |
Lot A2-A3 Phu Hoa Industrial Zone - Phu Hoa Town, Thoai Son District,
An Giang Province |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
23.08.2007 |
|
|
|
|
Com. Reg. No.: |
1600903460 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
farming, processing and exporting Pangasius Hypophthalmus ( Tra Fish ) and Pangasius Bocourti ( Basa Fish ) |
|
|
|
|
No. of Employees : |
1,000 employees |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Vietnam |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
vietnam - ECONOMIC OVERVIEW
Vietnam is a densely-populated developing country that in the last 30
years has had to recover from the ravages of war, the loss of financial support
from the old Soviet Bloc, and the rigidities of a centrally-planned economy.
While Vietnam's economy remains dominated by state-owned enterprises, which
still produce about 40% of GDP, Vietnamese authorities have reaffirmed their
commitment to economic liberalization and international integration. They have
moved to implement the structural reforms needed to modernize the economy and
to produce more competitive export-driven industries. Vietnam joined the World
Trade Organization in January 2007 following more than a decade-long
negotiation process. Vietnam became an official negotiating partner in the
developing Trans-Pacific Partnership trade agreement in 2010. Agriculture's
share of economic output has continued to shrink from about 25% in 2000 to
about 22% in 2011, while industry's share increased from 36% to 40% in the same
period. Deep poverty has declined significantly, and Vietnam is working to
create jobs to meet the challenge of a labor force that is growing by more than
one million people every year. The global recession has hurt Vietnam's export-oriented
economy, with GDP in 2009-11 growing less than the 7% per annum average
achieved during the last decade. In 2011, exports increased by more than 33%,
year-on-year, and the trade deficit, while reduced from 2010, remained high,
prompting the government to maintain administrative trade measures to limit the
trade deficit. Vietnam's managed currency, the dong, continues to face downward
pressure due to a persistent trade imbalance. Since 2008, the government
devalued it in excess of 20% through a series of small devaluations. Foreign
donors pledged nearly $8 billion in new development assistance for 2011.
However, the government's strong growth-oriented economic policies have caused
it to struggle to control one of the region's highest inflation rates, which
reached as high as 23% in August 2011 and averaged 18% for the year. In
February 2011, Vietnam shifted its focus away from economic growth to
stabilizing its economy and tightened fiscal and monetary policies. In early
2012 Vietnam unveiled a broad "three pillar" economic reform program,
proposing the restructuring of public investment, state-owned enterprises and
the banking sector. Vietnam's economy continues to face challenges from low
foreign exchange reserves, an undercapitalized banking sector, and high
borrowing costs. The near-bankruptcy and subsequent default of the
state-owned-enterprise Vinashin, a leading shipbuilder, led to a ratings
downgrade of Vietnam's sovereign debt, exacerbating Vietnam's borrowing
difficulties.
|
Source : CIA |
|
English Name |
|
AN MY FISH JOINT STOCK COMPANY |
|
Vietnamese Name |
|
CONG TY CO PHAN XUAT NHAP KHAU THUY SAN AN
MY |
|
Short name |
|
ANMYFISHCO |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
2007 |
|
Business Registration No. |
|
1600903460 |
|
Date of Registration |
|
23 Aug 2007 |
|
Place of Registration |
|
An Giang Department of Planning and
Investment |
|
Chartered capital |
|
VND 90,000,000,000 |
|
Status |
|
Unlisted |
|
Tax code |
|
1600903460 |
|
Total Employees |
|
1,000 |
|
Size |
|
Medium |
|
Head Office |
||
|
Address |
|
Lot A2-A3 Phu Hoa Industrial Zone - Phu
Hoa Town, Thoai Son District, An Giang Province, Vietnam |
|
Telephone |
|
(84-76) 3721888 |
|
Fax |
|
(84-76) 3721999 |
|
Email |
|
|
|
Website |
|
|
|
1. NAME |
|
Ms. TRAN THI THUY |
|
Position |
|
Chairman cum General Director |
|
Education |
|
University |
|
Date of Birth |
|
30 Dec 1967 |
|
ID Number/Passport |
|
350803540 |
|
ID Issue Date |
|
26 May 2008 |
|
ID Issue Place |
|
An Giang Police
Station |
|
Resident |
|
No 24/5B Ngo Quyen
str My Binh ward, Long Xuyen City, An Giang Province, Vietnam |
|
Nationality |
|
Viet Nam |
|
Tel/Mobile phone |
|
+84763.721888 – Ext: 106 / +84982854415 |
|
Email |
|
ttthuy@anmyfish.com.vn |
|
Years of experience |
|
She got Financial Accounting Bachelor
degree from University of Economic Ho Chi Minh City in 2001. From 2003 to
2005: She was chief accountant of Cuu Long An Giang Stock Company. From 2006
to 2007: She was Vice director of An My Trading And Services Company Limited
(AN MY Co,.Ltd ). Since 2007 she has been General Director of An My Fish
Joint Stock Company (ANMYFISHCO). |
|
|
||
|
2. NAME |
|
Mr. NGUYEN ANH THU |
|
Position |
|
Vice General Director |
|
Education |
|
Post graduated |
|
Nationality |
|
Vietnamese |
|
Tel/Mobile phone |
|
+84763.721888 – Ext: 108 / +84918.330.321 |
|
Email |
|
nathu@anmyfish.com.vn |
|
Years of experience |
|
He got BBA (in Foreign Trade) degree from
University of Economic Ho Chi Minh City in 2000. In 2002, he finished the
course of postgraduate training at the Academy NISIET of India with the major
“Management Science”. From 2005 to 2007, he was vice trading manager of An
Giang Import Export Company (ANGIMEX and from 2007 to 2008, he was business
development and strategy manager of An Giang Import Export Company (ANGIMEX
). And he has been Vice General Director of An My Fish Joint Stock Company
(ANMYFISHCO) since 2008. |
|
|
||
|
3. NAME |
|
Mr. TRAN THANH HOAI |
|
Position |
|
Vice General Director |
|
Education |
|
University |
|
Nationality |
|
Vietnamese |
|
Tel/Mobile phone |
|
+84763.721888 – Ext: 117 / + 84913.971.519
|
|
Email |
|
tthoai@anmyfish.com.vn |
|
Years of experience |
|
He graduated from Nha Trang University in
1990. He worked as an engineer with 20 years experience in operating equipments/devices.
From 1990 to 2002: : An Giang Fisheries Import Export Joint Stock Company
(AGIFISH Co.) – Manager of Technic. From 2002 – 2003: Cuu Long Fish Company (
CL Fish Co,.Ltd ) – Vice Manager of Technic. From 2003 – 2004: Gia Hiep
Trading And Services Company Limited ( Gia Hiep Co,.Ltd ) – Director. From
2004 – 2007: Viet An Joint Stock Company ( ANVIFISH ) – Director of Technic.
And he has been Vice Technical General Director of ANMYFISHCO since 2007. |
The subject specializes in farming, processing and exporting Pangasius Hypophthalmus ( Tra Fish ) and Pangasius Bocourti ( Basa Fish )
|
IMPORT: |
||
|
Note:
Currently, the subject does not import |
||
|
|
||
|
EXPORT: |
||
|
Market |
|
Many countries such as Spain, Germany, Italy, Singapore, Thailand... |
|
1. JOINT STOCK COMMERCIAL BANK FOR FOREIGN
TRADE OF VIETNAM AN GIANG BRANCH |
||
|
Address |
|
No.1 Hung Vuong, Long Xuyen City, An Giang Province, Vietnam |
|
Telephone |
|
(84-76) 3843589 / 3843590 |
|
Fax |
|
(84-76) 3841591 |
|
|
||
|
2. SAIGON THUONG TIN COMMERCIAL JOINT
STOCK BANK AN GIANG BRANCH |
||
|
Address |
|
No.56B Ton Duc Thang My Dinh ward, Long Xuyen City, An Giang Province,
Vietnam |
|
Telephone |
|
(84-76) 3956515 |
|
Fax |
|
(84-76) 3956515 |
|
|
||
|
1. NAME |
|
Ms. TRAN THI THUY |
|
Position |
|
Chairman cum General Director |
|
Date of Birth |
|
30 Dec 1967 |
|
ID Number/Passport |
|
350803540 |
|
Issued on |
|
26 May 2008 |
|
Issued Place |
|
An Giang Police Station |
|
Resident |
|
No 24/5B Ngo Quyen str., My Binh ward,
Long Xuyen City, An Giang Province, Vietnam |
|
Email |
|
ttthuy@anmyfish.com.vn |
|
Mobile phone |
|
+84982854415 |
|
Nationality |
|
Viet Nam |
|
Number of Shares |
|
6,246,000 |
|
Value of shares |
|
VND 62,460,000,000 |
|
Percentage |
|
69.4% |
|
|
||
|
2. NAME |
|
Ms. LE THI PHUONG |
|
ID Number/Passport |
|
350996280 |
|
Issued Place |
|
An Giang Police Station |
|
Resident |
|
Binh Khanh I Group , Long Xuyen City, An
Giang Province, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
342,000 |
|
Value of shares |
|
VND 3,420,000,000 |
|
Percentage |
|
3.8% |
|
|
||
|
3. NAME |
|
Ms. TRAN THI THU VAN |
|
ID Number/Passport |
|
351564492 |
|
Issued on |
|
12 Mar 1998 |
|
Issued Place |
|
An Giang Police |
|
Resident |
|
7 District, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
1,845,000 |
|
Value of shares |
|
VND 18,450,000,000 |
|
Percentage |
|
20.5% |
|
|
||
|
4. NAME |
|
Ms. LE THI LE |
|
ID Number/Passport |
|
350499523 |
|
Issued on |
|
24 Aug 2004 |
|
Issued Place |
|
Public Sercurity of An Giang Province |
|
Resident |
|
70/6 Le Trieu Khiet My Binh Ward, Long
Xuyen City, An Giang Province, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
567,000 |
|
Value of shares |
|
VND 5,670,000,000 |
|
Percentage |
|
6.3% |
|
|
|||
|
BALANCE SHEET |
|||
Unit: One VND
|
|||
|
Balance sheet date |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
Number of weeks |
52 |
52 |
52 |
|
ASSETS |
|||
|
A – CURRENT ASSETS |
286,144,000,000 |
303,499,000,000 |
224,532,000,000 |
|
I. Cash and cash equivalents |
3,212,000,000 |
10,414,000,000 |
5,056,000,000 |
|
1. Cash |
3,212,000,000 |
10,414,000,000 |
5,056,000,000 |
|
2. Cash equivalents |
0 |
0 |
0 |
|
II. Short-term investments |
0 |
0 |
0 |
|
1. Short-term investments |
0 |
0 |
0 |
|
2. Provisions for devaluation of short-term investments |
0 |
0 |
0 |
|
III. Accounts receivable |
87,065,000,000 |
122,385,000,000 |
60,344,000,000 |
|
1. Receivable from customers |
80,617,000,000 |
56,832,000,000 |
31,662,000,000 |
|
2. Prepayments to suppliers |
3,600,000,000 |
65,553,000,000 |
28,682,000,000 |
|
3. Inter-company receivable |
0 |
0 |
0 |
|
4. Receivable according to the progress of construction |
0 |
0 |
0 |
|
5. Other receivable |
3,227,000,000 |
0 |
0 |
|
6. Provisions for bad debts |
-379,000,000 |
0 |
0 |
|
IV. Inventories |
193,886,000,000 |
144,541,000,000 |
139,896,000,000 |
|
1. Inventories |
193,886,000,000 |
144,541,000,000 |
139,896,000,000 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
0 |
|
V. Other Current Assets |
1,981,000,000 |
26,159,000,000 |
19,236,000,000 |
|
1. Short-term prepaid expenses |
1,002,000,000 |
828,000,000 |
882,000,000 |
|
2. VAT to be deducted |
0 |
319,000,000 |
551,000,000 |
|
3. Taxes and other accounts receivable from the State |
0 |
0 |
0 |
|
4. Other current assets |
979,000,000 |
25,012,000,000 |
17,803,000,000 |
|
B. LONG-TERM ASSETS |
169,507,000,000 |
146,040,000,000 |
127,126,000,000 |
|
I. Long term accounts receivable |
0 |
0 |
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 |
0 |
0 |
0 |
|
5. Provisions for bad debts from customers |
0 |
0 |
0 |
|
II. Fixed assets |
167,741,000,000 |
141,796,000,000 |
121,391,000,000 |
|
1. Tangible assets |
120,536,000,000 |
127,609,000,000 |
114,142,000,000 |
|
- Historical costs |
154,854,000,000 |
147,225,000,000 |
120,657,000,000 |
|
- Accumulated depreciation |
-34,318,000,000 |
-19,616,000,000 |
-6,515,000,000 |
|
2. Financial leasehold assets |
0 |
0 |
0 |
|
- Historical costs |
0 |
0 |
0 |
|
- Accumulated depreciation |
0 |
0 |
0 |
|
3. Intangible assets |
38,506,000,000 |
8,620,000,000 |
0 |
|
- Initial costs |
38,506,000,000 |
8,620,000,000 |
0 |
|
- Accumulated amortization |
0 |
0 |
0 |
|
4. Construction-in-progress |
8,699,000,000 |
5,567,000,000 |
7,249,000,000 |
|
III. Investment property |
0 |
0 |
0 |
|
Historical costs |
0 |
0 |
0 |
|
Accumulated depreciation |
0 |
0 |
0 |
|
IV. Long-term investments |
0 |
0 |
0 |
|
1. Investments in affiliates |
0 |
0 |
0 |
|
2. Investments in business concerns and joint ventures |
0 |
0 |
0 |
|
3. Other long-term investments |
0 |
0 |
0 |
|
4. Provisions for devaluation of long-term investments |
0 |
0 |
0 |
|
V. Other long-term assets |
1,766,000,000 |
4,244,000,000 |
5,735,000,000 |
|
1. Long-term prepaid expenses |
1,766,000,000 |
4,244,000,000 |
5,735,000,000 |
|
2. Deferred income tax assets |
0 |
0 |
0 |
|
3. Other long-term assets |
0 |
0 |
0 |
|
VI. Goodwill |
|
0 |
|
|
1. Goodwill |
|
0 |
|
|
TOTAL ASSETS |
455,651,000,000 |
449,539,000,000 |
351,658,000,000 |
|
|
|||
|
LIABILITIES |
|||
|
A- LIABILITIES |
360,509,000,000 |
375,921,000,000 |
295,768,000,000 |
|
I. Current liabilities |
313,953,000,000 |
317,254,000,000 |
217,546,000,000 |
|
1. Short-term debts and loans |
236,112,000,000 |
277,151,000,000 |
158,169,000,000 |
|
2. Payable to suppliers |
68,529,000,000 |
27,473,000,000 |
50,744,000,000 |
|
3. Advances from customers |
5,451,000,000 |
7,667,000,000 |
2,336,000,000 |
|
4. Taxes and other obligations to the State Budget |
106,000,000 |
6,000,000 |
28,000,000 |
|
5. Payable to employees |
2,035,000,000 |
0 |
0 |
|
6. Accrued expenses |
517,000,000 |
1,915,000,000 |
1,754,000,000 |
|
7. Inter-company payable |
0 |
33,000,000 |
15,000,000 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
0 |
|
9. Other payable |
1,203,000,000 |
3,009,000,000 |
4,500,000,000 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
0 |
|
II. Long-Term Liabilities |
46,556,000,000 |
58,667,000,000 |
78,222,000,000 |
|
1. Long-term accounts payable to suppliers |
0 |
0 |
0 |
|
2. Long-term inter-company payable |
10,000,000,000 |
0 |
0 |
|
3. Other long-term payable |
0 |
0 |
1,000,000,000 |
|
4. Long-term debts and loans |
36,556,000,000 |
58,667,000,000 |
77,222,000,000 |
|
5. Deferred income tax payable |
0 |
0 |
0 |
|
6. Provisions for unemployment allowances |
0 |
0 |
0 |
|
7. Provisions for long-term accounts payable |
0 |
0 |
0 |
|
B- OWNER’S EQUITY |
95,142,000,000 |
73,618,000,000 |
55,890,000,000 |
|
I. OWNER’S EQUITY |
95,142,000,000 |
73,618,000,000 |
55,890,000,000 |
|
1. Capital |
70,000,000,000 |
63,700,000,000 |
53,200,000,000 |
|
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 |
0 |
364,000,000 |
0 |
|
7. Business promotion fund |
0 |
0 |
0 |
|
8. Financial reserved fund |
0 |
0 |
0 |
|
9. Other funds |
0 |
0 |
0 |
|
10. Retained earnings |
25,142,000,000 |
9,554,000,000 |
2,690,000,000 |
|
11. Construction investment fund |
0 |
0 |
0 |
|
II. Other sources and funds |
0 |
0 |
0 |
|
1. Bonus and welfare funds (Elder form) |
0 |
0 |
0 |
|
2. Sources of expenditure |
0 |
0 |
0 |
|
3. Fund to form fixed assets |
0 |
0 |
0 |
|
MINORITY’S INTEREST |
|
0 |
|
|
TOTAL LIABILITIES AND OWNER’S EQUITY |
455,651,000,000 |
449,539,000,000 |
351,658,000,000 |
|
PROFIT &
LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2011 |
FY2010 |
FY2009 |
|
1. Total Sales |
571,759,000,000 |
430,473,000,000 |
154,484,000,000 |
|
2. Deduction item |
7,396,000,000 |
345,000,000 |
1,027,000,000 |
|
3. Net revenue |
564,363,000,000 |
430,128,000,000 |
153,457,000,000 |
|
4. Costs of goods sold |
470,700,000,000 |
348,335,000,000 |
123,050,000,000 |
|
5. Gross profit |
93,663,000,000 |
81,793,000,000 |
30,407,000,000 |
|
6. Financial income |
9,966,000,000 |
7,628,000,000 |
2,791,000,000 |
|
7. Financial expenses |
47,694,000,000 |
36,509,000,000 |
13,167,000,000 |
|
- In which: Loan interest expenses |
43,463,000,000 |
34,339,000,000 |
13,127,000,000 |
|
8. Selling expenses |
32,199,000,000 |
37,600,000,000 |
11,095,000,000 |
|
9. Administrative overheads |
8,085,000,000 |
8,926,000,000 |
6,251,000,000 |
|
10. Net operating profit |
15,651,000,000 |
6,386,000,000 |
2,685,000,000 |
|
11. Other income |
1,036,000,000 |
802,000,000 |
6,000,000 |
|
12. Other expenses |
|
324,000,000 |
0 |
|
13. Other profit /(loss) |
1,036,000,000 |
478,000,000 |
6,000,000 |
|
14. Total accounting profit before tax |
16,687,000,000 |
6,864,000,000 |
2,691,000,000 |
|
15. Current corporate income tax |
0 |
0 |
0 |
|
16. Deferred corporate income tax |
0 |
0 |
0 |
|
17. Interest from subsidiaries/related companies |
|
0 |
|
|
18. Profit after tax |
16,687,000,000 |
6,864,000,000 |
2,691,000,000 |
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||||
|
|
||||
|
Description |
FY2011 |
FY2010 |
FY2009 |
Average Industry |
|
Current liquidity ratio |
0.91 |
0.96 |
1.03 |
1.32 |
|
Quick liquidity ratio |
0.29 |
0.50 |
0.39 |
0.69 |
|
Inventory circle |
2.43 |
2.45 |
0.88 |
4.18 |
|
Average receive period |
56.31 |
103.85 |
143.53 |
69.24 |
|
Utilizing asset performance |
1.24 |
0.96 |
0.44 |
1.47 |
|
Liability by total assets |
79.12 |
83.62 |
84.11 |
64.25 |
|
Liability by owner's equity |
378.92 |
510.64 |
529.20 |
263.88 |
|
Ebit / Total assets (ROA) |
13.20 |
9.17 |
4.50 |
9.37 |
|
Ebit / Owner's equity (ROE) |
63.22 |
55.97 |
28.30 |
32.97 |
|
Ebit / Total revenue (NPM) |
10.52 |
9.57 |
10.24 |
6.94 |
|
Gross profit / Total revenue (GPM) |
16.38 |
19.00 |
19.68 |
13.08 |
|
Note: The Average Industry was calculated by VietnamCredit based on our own
statistical data |
||||
|
CASH FLOW
STATEMENT |
||
|
(Indirect
method) |
||
|
Items |
FY2011 |
FY2010 |
|
I. Cash flows from operating activities |
||
|
1. Profit before tax |
16,687,000,000 |
6,864,000,000 |
|
2. Adjustments |
|
|
|
- Depreciation and amortization |
14,702,000,000 |
13,101,000,000 |
|
- Provisions |
379,000,000 |
0 |
|
- Unrealized foreign exchange difference |
-364,000,000 |
364,000,000 |
|
- Gain/loss from investing activities |
|
0 |
|
- Interest expense |
43,463,000,000 |
34,339,000,000 |
|
3. Operating profit before movements in working
capital |
74,867,000,000 |
54,668,000,000 |
|
- (Increase)/Decrease in receivables |
34,941,000,000 |
-62,041,000,000 |
|
- (Increase)/Decrease in inventories |
-49,345,000,000 |
-4,645,000,000 |
|
- Increase/(Decrease) in accounts payable |
47,638,000,000 |
-20,252,000,000 |
|
- (Increase)/Decrease in prepaid expenses |
2,304,000,000 |
-5,432,000,000 |
|
- Interest paid |
-43,463,000,000 |
-34,339,000,000 |
|
- Corporate income tax paid |
100,000,000 |
-22,000,000 |
|
- Other cash inflows |
|
0 |
|
- Other cash outflows |
23,253,000,000 |
0 |
|
Net cash from (used in) operating activities |
90,295,000,000 |
-72,063,000,000 |
|
II. Cash flows from investing activities |
||
|
1. Acquisition of fixed assets and other long - term assets |
-40,647,000,000 |
-33,506,000,000 |
|
2. Proceeds from fixed assets and long - term assets disposal |
|
|
|
3. Cash outflow for lending, buying debt instruments of other
companies |
|
|
|
4. Cash recovered from lending, selling debt instruments of other
companies |
|
|
|
5. Investment in other entities |
|
|
|
6. Cash recovered from investments in other entities |
|
|
|
7. Interest income, dividend and profit paid |
|
|
|
Net cash from (used in) investing activities |
-40,647,000,000 |
-33,506,000,000 |
|
III. Cash flows from financing activities |
||
|
1. Proceeds from issuing stocks, receiving capital from owners |
6,300,000,000 |
10,500,000,000 |
|
2. Capital withdrawal, buying back issued stocks |
|
|
|
3. Proceeds from borrowings |
-63,150,000,000 |
100,427,000,000 |
|
4. Repayment of borrowings |
|
|
|
5. Repayment of obligations under finance leased |
|
|
|
6. Dividends paid |
|
|
|
Net cash from (used in) financing activities |
-56,850,000,000 |
110,927,000,000 |
|
Net increase/(decrease) in cash and cash equivalents |
-7,202,000,000 |
5,358,000,000 |
|
Cash and cash equivalents at beginning of year |
10,414,000,000 |
5,056,000,000 |
|
Effect from changing foreign exchange rate |
|
|
|
Cash and cash equivalents at end of year |
3,212,000,000 |
10,414,000,000 |
|
Trade Morality |
|
Fair |
|
Liquidity |
|
Medium |
|
Payment status |
|
Average |
|
Financial Situation |
|
Average |
|
Development trend |
|
Stable |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
TT, LC, DP |
|
Sale Methods |
|
Wholesaler |
|
Public opinion |
|
Good |
|
AN MY FISH JOINT STOCK COMPANY
(ANMYFISHCO) was established in 2007. The subject was granted business registration
number 1600903460, issued by An Giang Department of Planning and Investment.
After many times of increasing, now the subject has chartered capital of VND
90 billion, capitalized from four shareholders, in which Ms. Tran Thi Thuy
contributes 69.4% share. She is chairwomen cum general director of the subject. The subject specializes in farming,
processing and exporting Pangasius Hypophthalmus ( Tra Fish ) and Pangasius
Bocourti (Basa Fish). 100% products are consumed in foreign market. Its
products are exported to many countries such as Spain, Germany, Italy,
Singapore, ThaiLand, Dubai, Saudi Arabia. EU and Middle East are still main
market of the subject. Its position is fair in the industry. The subject is headquartered at Lot A2-A3
Phu Hoa Industrial Zone - Phu Hoa Town, Thoai Son District, An Giang Province.
The factory is about 45.000 m2, has modern cold storages with a capacity of
over 4,000 tons. Investing capital of this plant is worth about 15 million US
Dollars. Now there are about 1000 employees working for the subject. It is
considered a medium enterprise in the industry. Financially, the subject has increased its
revenue sharply over years. In 2011 net revenue represented VND 571,759
million, an increase of 32.79% in previous year and by 3.7 times value in
2010. Consequently, profit of the subject also growth up impressively in the
last three years. Profitability ratios are higher than average industry.
However, subject’s liquidity is not good. Both of current and quick liquidity
ratios has reduced over years and be lower than other firms in the field
business. Moreover, the subject keeps high debt proportion in its financial
structure. In general, the subject is a medium
company and its position is fair in the industry. Financial status of the
subject is normal. The subject is assessed at BB in the credit rating and it
can meet small financial commitments. |
|
INDUSTRY DATA |
||||||
|
|
||||||
|
Industry code |
Growth speed by price compared with 1994 (%) |
Total enterprises 2010 |
Total employees 2011 (Thous.pers.) |
Annual average capital of enterprises 2010 (billion dongs) |
||
|
2011 |
2010 |
|||||
|
Agriculture,
Forestry and Fishing |
4.00 |
2.78 |
8,887 |
24,362.9 |
95,227 |
|
|
Industry and
Construction |
5.53 |
7.70 |
95,217 |
10,718.9 |
3,641,376 |
|
|
Trade and
Services |
6.69 |
7.52 |
187,195 |
15,270.2 |
6,957,082 |
|
|
|
||||||
|
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.52.70 |
|
UK Pound |
1 |
Rs.84.51 |
|
Euro |
1 |
Rs.68.16 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.