|
Report Date : |
14.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
TPC VINA PLASTIC AND CHEMICAL CO., LTD |
|
|
|
|
Registered Office : |
Go Dau Industrial Park, Phuoc Thai Lot, Long Thanh
District, Dong Nai Province |
|
|
|
|
Country : |
Viet Nam |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
1995 |
|
|
|
|
Legal Form : |
Joint venture |
|
|
|
|
Line of Business : |
Producing and trading PVC resin
and related chemicals |
|
|
|
|
No. of Employees : |
1995 |
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 : |
Slow but correct |
|
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) |
|
Viet Nam |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
VIET NAM - 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
SUBJECT IDENTIFICATION &
LEGAL FORM
|
||
|
|
||
Current
legal status
|
||
|
English Name |
|
TPC VINA PLASTIC AND CHEMICAL
CO., LTD |
|
Vietnamese Name |
|
CONG TY TNHH NHUA VA HOA CHAT
TPC VINA |
|
Short name |
|
TPC VINA |
|
Type of Business |
|
Joint venture |
|
Year Established |
|
1995 |
|
Investment Certificate No |
|
472023000582 |
|
Date Of Issuance |
|
11 Jul 2008 |
|
Place of Issuance |
|
Dong Nai Industrial Zones
Authority |
|
Registered Investment Capital |
|
USD 111,500,000 |
|
Chartered capital |
|
USD 35,000,000 |
|
Investment Duration |
|
50 years |
|
Status |
|
Unlisted |
|
Tax code |
|
3600248368 |
|
Total Employees |
|
176 |
|
Size |
|
Large |
|
Note: The correct name of the subject is
above. |
||
Historical Identification &
Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Board
Of Director: Mr. SANTI UDOMNITIRAT; Mr. VU QUANG TRINH; Mr. SARAYUTH
VORAPRUEKJARU Changed to: Mr. PIYAPONG
JRIYASETAPONG; Mr. PHUONG TRUNG THUY; Mr. SUMETH WUPPISUN |
2012 |
|
2 |
Subject has got former
Chartered capital: USD 27,000,000 Changed to: USD 35,000,000 |
22 Apr 2009 |
|
3 |
Subject has got former
Registered Vietnamese Name: CONG TY TNHH NHUA VA HOA CHAT MITSUI VINA Changed to: CONG TY TNHH NHUA
VA HOA CHAT TPC VINA |
11 Jul 2008 |
|
4 |
Subject has got former
Abbreviated Name: MITSUI VINA Changed to: TPC VINA |
11 Jul 2008 |
|
5 |
Subject has got former
Investment Certificate No: 1287/GP, Issuance on June 23rd 1995, granted by
Ministry of Planning and Investment Changed to: 472023000582, granted by Dong
Nai Industrial Zones Authority |
11 Jul 2008 |
|
6 |
Subject has got former
Shareholders: MITSUI & CO., LTD (46%), THAI PLASTIC AND CHEMICALS PUBLIC
COMPANY LTD (24%), VIETNAM NATIONAL CHEMICALS CORPORATION (VINACHEM) (15%)
and VIETNAM PLASTIC JOINT STOCK CORPORATION (VINAPLAST) (15%) Changed to: THAI PLASTIC AND
CHEMICALS PUBLIC COMPANY LTD (70%), VIETNAM NATIONAL CHEMICALS CORPORATION
(VINACHEM) (15%) and VIETNAM PLASTIC JOINT STOCK CORPORATION (VINAPLAST)
(15%) |
11 Jul 2008 |
|
|
||
ADDRESSES
|
||
|
|
||
|
Head
Office |
||
|
Address |
|
Go Dau Industrial Park, Phuoc
Thai Lot, Long Thanh District, Dong Nai Province, Vietnam |
|
Telephone |
|
(84-61) 3841461 |
|
Fax |
|
(84-61) 3841460 |
|
Email |
|
|
|
Note: The correct address of the subject is
above. |
||
|
|
||
|
Transaction
office in Ho Chi Minh |
||
|
Address |
|
Room 901 Habor View Tower - 35
Nguyen Hue str - Ben Nghe Ward, 1 District, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 38234730 |
|
Fax |
|
(84-8) 38234725 |
|
|
||
|
Representative
office in Ha Noi |
||
|
Address |
|
Room 203 V Tower 649 Kim Ma
Str, Ba Dinh District, Ha Noi City, Vietnam |
|
Telephone |
|
(84-4) 37661568 |
|
Fax |
|
(84-4) 37661568 |
|
Manager |
|
Mr. NGUYEN QUANG TUYEN |
|
|
||
DIRECTORS
|
||
|
|
||
|
1. NAME |
|
Mr. PIYAPONG JRIYASETAPONG |
|
Position |
|
General Director |
|
Nationality |
|
Thai |
|
|
||
|
2. NAME |
|
Mr. PHUONG TRUNG THUY |
|
Position |
|
Deputy General Director |
|
Nationality |
|
Vietnamese |
|
|
||
|
3. NAME |
|
Mr. SUMETH WUPPISUN |
|
Position |
|
Production Director |
|
Nationality |
|
Thai |
|
|
||
|
4. NAME |
|
Mr. BRAWEEN WIROPAN |
|
Position |
|
Chief Accountant |
|
Nationality |
|
Thai |
|
|
||
BUSINESS NATURE AND ACTIVITIES
|
|
|
|
The subject specializes in producing and trading PVC resin and related
chemicals. |
|
|
IMPORT & EXPORT ACTIVITIES
|
||
|
|
||
|
IMPORT:
|
||
|
·
Types of products |
|
Materials |
|
·
Market |
|
Japan, Taiwan, South Korea, Malaysia, Thailand and
Indonesia. |
|
·
Mode of payment |
|
L/C, TT |
|
|
||
|
EXPORT:
|
||
|
·
Market |
|
The subject’s products are mainly distributed in domestic
market. Some of them are exported to Cambodia and China. |
|
·
Mode of payment |
|
L/C, T/T |
|
|
||
BANKERS
|
||
|
|
||
|
1. TOKYO MITSUBISHI UFJ |
||
|
Address |
|
Flood 8, Landmark Building, 5B Ton Duc Thang Street, 1
District, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 3823 1560 |
|
Fax |
|
(84-8) 3823 1559 |
|
|
||
|
2. JOINT STOCK BANK FOR FOREIGN TRADE OF VIETNAM HO CHI MINH
BRANCH |
||
|
Address |
|
No. 29 Ben Chuong Duong Str-Nguyen Thai Binh Ward, 1
District, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 3825 1317 |
|
Fax |
|
(84-8) 3829 7228 |
|
|
||
SHAREHOLDERS
|
||
|
|
||
|
1. NAME |
|
VIETNAM NATIONAL CHEMICAL GROUP |
|
Business Registration |
|
0100100061 |
|
Date of Registration |
|
13 Oct 2010 |
|
Place of Registration |
|
Planning and Investment Department of Hanoi City |
|
Registered Capital |
|
VND 8,000,000,000,000 |
|
Tax code |
|
0100100061 |
|
Address |
|
No. 1A, Trang Tien Str Trang
Tien Ward, Hoan Kiem District, Ha Noi City, Vietnam |
|
Tel |
|
(84-4) 38240551/ 38253037 |
|
Fax |
|
(84-4) 38252995/ 38254664 |
|
Email |
|
info@vinachem.com.vn |
|
Website |
|
www.vinachem.com.vn |
|
Value of shares |
|
USD 5,250,000 |
|
Percentage |
|
15% |
|
|
||
|
2. NAME |
|
VIETNAM PLASTIC CORPORATION |
|
Business Registration |
|
0300381966 |
|
Date of Registration |
|
09 Aug 2011 |
|
Place of Registration |
|
Business registration office of Hochiminh city |
|
Registered Capital |
|
VND 198,000,000,000 |
|
Tax code |
|
0300381966 |
|
Address |
|
300B Nguyen Tat Thanh Street,
Ward 13, 4 District, Ho Chi Minh City, Vietnam |
|
Tel |
|
(84-8) 3940 2300 |
|
Email |
|
vnplast@hcm.vnn.vn |
|
Website |
|
www.vinaplast.com.vn |
|
Value of shares |
|
USD 5,250,000 |
|
Percentage |
|
15% |
|
|
||
|
3. NAME |
|
THAI PLASTIC AND CHEMICALS PUBLIC COMPANY LIMITED |
|
Business Registration |
|
0107537001242 |
|
Date of Registration |
|
26 Apr 1994 |
|
Place of Registration |
|
Thailand |
|
Address |
|
14th - 15th floor, Rajanakarn
building, No. 183 South Sathorn road, Yannawa, Sathorn, Bangkok, 10120,
Thailand |
|
Value of shares |
|
USD 24,500,000 |
|
Percentage |
|
70% |
|
|
||
FINANCIAL DATA
|
||
|
|
||
|
BALANCE SHEET |
||
Unit: One VND
|
||
|
Balance
sheet date |
31/12/2011
|
31/12/2010
|
|
Number of weeks |
52 |
52 |
|
Audit status |
Unknown
|
Unknown
|
ASSETS
|
||
|
A –
CURRENT ASSETS |
422,013,929,929
|
733,171,612,922
|
|
I.
Cash and cash equivalents |
21,804,200,188
|
53,670,051,399
|
|
1. Cash |
21,804,200,188 |
53,670,051,399 |
|
2. Cash equivalents |
0 |
0 |
|
II.
Short-term investments |
0 |
0 |
|
1. Short-term investments |
0 |
0 |
|
2. Provisions for devaluation of short-term investments |
0 |
0 |
|
III.
Accounts receivable |
280,210,433,306
|
313,216,476,569
|
|
1. Receivable from customers |
278,882,708,384 |
304,096,141,160 |
|
2. Prepayments to suppliers |
459,147,389 |
3,650,746,919 |
|
3. Inter-company receivable |
0 |
0 |
|
4. Receivable according to the progress of construction |
0 |
0 |
|
5. Other receivable |
868,577,533 |
5,616,525,815 |
|
6. Provisions for bad debts |
0 |
-146,937,325 |
|
IV.
Inventories |
118,812,622,603
|
326,323,461,898
|
|
1. Inventories |
118,812,622,603 |
326,323,461,898 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
|
V.
Other Current Assets |
1,186,673,832
|
39,961,623,056
|
|
1. Short-term prepaid expenses |
651,745,486 |
3,779,491,335 |
|
2. VAT to be deducted |
534,928,346 |
35,006,586,467 |
|
3. Taxes and other accounts receivable from the State |
0 |
1,175,545,254 |
|
4. Other current assets |
0 |
0 |
|
B.
LONG-TERM ASSETS |
1,223,399,752,703
|
1,311,041,448,685
|
|
I.
Long term accounts receivable |
0 |
0 |
|
1. Long term account receivable from customers |
0 |
0 |
|
2. Working capital in affiliates |
0 |
0 |
|
3. Long-term inter-company receivable |
0 |
0 |
|
4. Other long-term receivable |
0 |
0 |
|
5. Provisions for bad debts from customers |
0 |
0 |
|
II.
Fixed assets |
1,217,561,812,034
|
1,296,290,412,391
|
|
1. Tangible assets |
1,101,214,924,710 |
1,177,372,589,564 |
|
- Historical costs |
1,903,148,474,250 |
1,896,807,792,481 |
|
- Accumulated depreciation |
-801,933,549,540 |
-719,435,202,917 |
|
2. Financial leasehold assets |
0 |
0 |
|
- Historical costs |
0 |
0 |
|
- Accumulated depreciation |
0 |
0 |
|
3. Intangible assets |
112,483,367,603 |
118,917,822,827 |
|
- Initial costs |
223,179,874,427 |
223,179,874,427 |
|
- Accumulated amortization |
-110,696,506,824 |
-104,262,051,600 |
|
4. Construction-in-progress |
3,863,519,721 |
0 |
|
III.
Investment property |
0 |
0 |
|
Historical costs |
0 |
0 |
|
Accumulated depreciation |
0 |
0 |
|
IV.
Long-term investments |
0 |
0 |
|
1. Investments in affiliates |
0 |
0 |
|
2. Investments in business concerns and joint ventures |
0 |
0 |
|
3. Other long-term investments |
0 |
0 |
|
4. Provisions for devaluation of long-term investments |
0 |
0 |
|
V.
Other long-term assets |
5,837,940,669
|
14,751,036,294
|
|
1. Long-term prepaid expenses |
5,080,851,539 |
13,981,865,862 |
|
2. Deferred income tax assets |
0 |
0 |
|
3. Other long-term assets |
757,089,130 |
769,170,432 |
|
VI.
Goodwill |
0 |
0 |
|
1. Goodwill |
0 |
0 |
|
TOTAL
ASSETS |
1,645,413,682,632
|
2,044,213,061,607
|
|
|
||
LIABILITIES
|
||
|
A-
LIABILITIES |
975,302,198,199
|
1,347,727,304,632
|
|
I.
Current liabilities |
760,549,807,394
|
1,089,971,821,295
|
|
1. Short-term debts and loans |
614,279,073,275 |
489,670,310,512 |
|
2. Payable to suppliers |
92,402,587,024 |
527,578,295,933 |
|
3. Advances from customers |
815,320,000 |
781,660 |
|
4. Taxes and other obligations to the State Budget |
6,658,899,157 |
15,420,756,709 |
|
5. Payable to employees |
3,245,873,004 |
2,766,266,597 |
|
6. Accrued expenses |
8,469,026,290 |
9,805,973,851 |
|
7. Inter-company payable |
0 |
0 |
|
8. Payable according to the progress of construction
contracts |
0 |
0 |
|
9. Other payable |
34,679,028,644 |
44,729,436,033 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
|
II.
Long-Term Liabilities |
214,752,390,805
|
257,755,483,337
|
|
1. Long-term accounts payable to suppliers |
0 |
0 |
|
2. Long-term inter-company payable |
0 |
0 |
|
3. Other long-term payable |
0 |
0 |
|
4. Long-term debts and loans |
208,279,993,322 |
252,426,666,414 |
|
5. Deferred income tax payable |
0 |
0 |
|
6. Provisions for unemployment allowances |
6,472,397,483 |
5,328,816,923 |
|
7. Provisions for long-term accounts payable |
0 |
0 |
|
B-
OWNER’S EQUITY |
670,111,484,433
|
696,485,756,975
|
|
I.
OWNER’S EQUITY |
670,111,484,433
|
696,485,756,975
|
|
1. Capital |
662,620,000,000 |
662,620,000,000 |
|
2. Share premiums |
0 |
0 |
|
3. Other sources of capital |
0 |
0 |
|
4. Treasury stocks |
0 |
0 |
|
5. Differences on asset revaluation |
0 |
0 |
|
6. Foreign exchange differences |
0 |
0 |
|
7. Business promotion fund |
0 |
0 |
|
8. Financial reserved fund |
0 |
0 |
|
9. Other funds |
0 |
0 |
|
10. Retained earnings |
7,491,484,433 |
33,865,756,975 |
|
11. Construction investment fund |
0 |
0 |
|
II.
Other sources and funds |
0 |
0 |
|
1. Bonus and welfare funds (Elder form) |
0 |
0 |
|
2. Sources of expenditure |
0 |
0 |
|
3. Fund to form fixed assets |
0 |
0 |
|
MINORITY’S
INTEREST |
0 |
0 |
|
TOTAL
LIABILITIES AND OWNER’S EQUITY |
1,645,413,682,632
|
2,044,213,061,607
|
|
|
||
|
PROFIT & LOSS STATEMENT |
||
|
|
||
|
Description |
FY2011 |
FY2010 |
|
1. Total Sales |
2,727,409,663,824
|
2,431,210,128,103
|
|
2. Deduction item |
0 |
0 |
|
3. Net revenue |
2,727,409,663,824
|
2,431,210,128,103
|
|
4. Costs of goods sold |
2,504,763,343,817 |
2,346,024,851,683 |
|
5. Gross profit |
222,646,320,007
|
85,185,276,420
|
|
6. Financial income |
41,474,017,745 |
76,136,814,800 |
|
7. Financial expenses |
202,636,503,340 |
99,381,928,778 |
|
- In which: Loan interest expenses |
0 |
0 |
|
8. Selling expenses |
52,133,766,445 |
53,506,742,249 |
|
9. Administrative overheads |
36,202,409,835 |
59,145,059,543 |
|
10. Net operating profit |
-26,852,341,868
|
-50,711,639,350
|
|
11. Other income |
478,069,326 |
196,746,973 |
|
12. Other expenses |
0 |
0 |
|
13. Other profit /(loss) |
478,069,326
|
196,746,973
|
|
14. Total accounting profit before tax |
-26,374,272,542
|
-50,514,892,377
|
|
15. Current corporate income tax |
0 |
-1,501,845,778 |
|
16. Deferred corporate income tax |
0 |
0 |
|
17. Interest from subsidiaries/related companies |
0 |
0 |
|
18. Profit after tax |
-26,374,272,542
|
-49,013,046,599
|
|
|
|||
|
FINANCIAL
RATIOS AND AVERAGE INDUSTRY RATIOS |
|||
|
|
|||
|
Description |
FY2011
|
FY2010
|
Average
Industry |
|
Current liquidity ratio |
0.55 |
0.67 |
1.65 |
|
Quick liquidity ratio |
0.40 |
0.37 |
0.95 |
|
Inventory circle |
11.25 |
7.19 |
5.36 |
|
Average receive period |
37.50 |
47.02 |
69.02 |
|
Utilizing asset performance |
1.66 |
1.19 |
1.15 |
|
Liability by total assets |
59.27 |
65.93 |
55.74 |
|
Liability by owner's equity |
145.54 |
193.50 |
197.00 |
|
Ebit / Total assets (ROA) |
-1.60 |
-2.47 |
11.75 |
|
Ebit / Owner's equity (ROE) |
-3.94 |
-7.25 |
26.54 |
|
Ebit / Total revenue (NPM) |
-0.97 |
-2.08 |
10.24 |
|
Gross profit / Total revenue (GPM) |
8.16 |
3.50 |
19.81 |
|
Note: The Average Industry was calculated by VietnamCredit
based on our own statistical data |
|||
|
|
|||
PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
||
|
|
||
|
Trade Morality |
|
Fair |
|
Liquidity |
|
Low |
|
Payment status |
|
Low |
|
Financial Situation |
|
Above Average |
|
Development trend |
|
Positive |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
T/T, L/C |
|
Sale Methods |
|
Wholesaler |
|
Public opinion |
|
Good |
INTERPRETATION ON THE SCORES
|
|
|
|
The subject was
established as a Joint Venture Company under the former Investment License
No. 1287/GP, granted by Ministry of Planning and Investment. Currently, it is
operating under the Investment Certificate No. 472023000582 granted by Dong
Nai Industrial Zones Authority. It was invested by two Vietnamese companies
and one Thai Company with the charted capital is USD 35,000,000. The company's head
office and factory are located at Go Dau Industrial Park, Phuoc Thai Commune,
Long Thanh District, Dong Nai Province, Viet Nam. It is occupied on the total
area land of 240,000 meter-square. It also has a transaction office in Ho Chi
Minh City and a representative office in Hanoi. The company
specializes in manufacturing and trading PVC resin. It is considered as one
of the largest PVC resin manufacturer in Viet Nam. Currently, most of its
products are consumed in domestic market. Only one part of them is exported.
The technology and new product of the subject are developed by with Thai
Plastic and Chemical Public Company Limited. It is a company in the top of
Vietnam PVC plastic industry. PVC resin is the
essential raw material for plastic processing industries that supply items
used in construction (water supply pipe & hose, window & door frame,
ceiling profile), electric power transmission (wire & cable insulation),
customer products(artificial leather, bottle, cover sheet). By using modern
technology, TPC Vina has been continuously supplying PVC resin for Vietnam
market and for neighboring countries since 1998. According to the financial statement in 2011, we found that the
subject's operating result was not good with considerable amount of loss.
However, the revenue increased and it the loss decreased in comparison with
2010. The large revenue show the subject's market share is large. The subject's debt ratio was low. Its debt rate decreased from 41.75% to 35.58%, so its
capital structure was very safe. These shows, its self-financing and solvency
were strong. However, with the low debt rate, its effective operation would
be reduced. Despite of the very moderate debt ratio the liquidity was low. The
liquidity was low because the current asset rate is humble in total assets. In 2011, the
subject's quick liquidity decreased slightly because the decrease of the
current assets was higher the decrease of the current liabilities. In 2011, the subject's utilizing asset performances was improved well
and it was still higher in comparison with the industry. Its inventory
turnover increased well because its sales policy worked efficiently. Its receivable
turnover high because the subject applied the tighter credit policies for its
customers. Its profitability was not good because the cost management was
inefficient. In general, the subject is a large foreign company with long time of
operation in the industry. Its position and future prospect are good. With
the strong self-financing ability, it can meet the small-medium payment
commitments. |
|
|
|
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.55.44 |
|
|
1 |
Rs.89.30 |
|
Euro |
1 |
Rs.71.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.