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Report Date : |
04.04.2013 |
IDENTIFICATION DETAILS
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Name : |
VIET TRANSPORT INTERNATIONAL AND CARGO AGENCY
COMPANY LIMITED |
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Registered Office : |
Suite 401, Inlaco Building Building, No.4, Nguyen Trai
Street, Ngo Quyen District, Hai Phong City |
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Country : |
Viet Nam |
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Date of Incorporation : |
08.11.2010 |
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Legal Form : |
Limited liability company |
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Line of Business : |
Subject trades in agricultural
products according to form of temporary import and re-export. Besides, it
also supplies import-export services including customs procedures, transport,
etc. |
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No. of Employees : |
4 |
RATING & COMMENTS
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MIRA’s 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 : |
Slow |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
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.
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Source : CIA |
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Current legal status
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Registered English Name |
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VIET TRANSPORT INTERNATIONAL
AND CARGO AGENCY COMPANY LIMITED |
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Registered Vietnamese Name |
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CONG TY TNHH VAN TAI VA DAI LY
HANG HOA QUOC TE VIET |
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Registered Short name |
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VIETTRANCARGO 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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2010 |
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Business Registration No. |
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0201129500 |
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Date of Registration |
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08 Nov 2010 |
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Place of Registration |
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Hai Phong Department of Planning
and Investment |
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Chartered capital |
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VND 1,000,000,000 |
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Status |
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Unlisted |
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Tax code |
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0201129500 |
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Total Employees |
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4 |
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Size |
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Small |
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Note:
The exact name of the subject is above |
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Historical Identification & Legal
form
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List |
Changed Items |
Date of changes |
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1 |
Subject has got former Board
Of Director: Former Director: Ms. LUONG THANH MAI Changed to: Current Director:
Mr. DANG QUANG PHUC |
22 Jan 2013 |
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Head
Office |
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Address |
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Suite 401, Inlaco Building
Building, No.4, Nguyen Trai Street, Ngo Quyen District, Hai Phong City,
Vietnam |
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Telephone |
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(84-31) 3797799 |
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Fax |
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(84-31) 3797789 |
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Note: The full address of the subject is as
above. |
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1. NAME |
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Mr. DANG QUANG PHUC |
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Position |
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Director |
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ID Number/Passport |
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031269652
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Nationality |
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Vietnamese |
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Currently, the subject trades in agricultural products according to form
of temporary import and re-export. Besides, it also supplies import-export
services including customs procedures, transport, etc. |
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IMPORT:
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·
Types of products |
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Agricultural products |
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Market |
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India, Myanmar, USA, China, etc |
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EXPORT:
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Types of products |
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Agricultural products |
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·
Market |
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China (main), Thailand |
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1. SAI GON BANK HAI PHONG BRANCH |
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Address |
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No.25, Da Nang Street, May To Ward,
Ngo Quyen District, Hai Phong City, Vietnam |
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Telephone |
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(84-31) 3797585 |
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Fax |
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(84-31) 3797586 |
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2. VIET NAM BANK FOR AGRICULTURE AND RURAL DEVELOPMENT NGO QUYEN
BRANCH |
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Address |
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No.276 A Da Nang Street, Ngo Quyen District, Hai Phong
City, Vietnam |
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Telephone |
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(84-31) 3 652 394 |
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Fax |
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(84-31) 3 652 395 |
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1. NAME |
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Ms. LUONG THANH MAI |
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ID Number/Passport |
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030686894 |
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Nationality |
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Vietnamese |
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Percentage |
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30% |
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2. NAME |
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Mr. DUONG DUC THO |
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Nationality |
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Vietnamese |
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Percentage |
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50% |
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3. NAME |
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Mr. DANG QUANG PHUC |
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Position |
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Director |
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ID Number/Passport |
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031269652 |
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Nationality |
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Vietnamese |
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Percentage |
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20% |
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N/A |
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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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Below Average |
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Development trend |
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Developing |
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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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Cash, Transfer through banks |
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Sale Methods |
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To contracts |
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The subject is a young business. It was established in 2010 as a
limited liability. It runs under the business registration No. 0201129500
(same to the tax code) with chartered capital of VND one billion. The subject trades according to form of temporary import and re-export.
It imports agricultural products (such as peanut, pea, etc) from many
countries but mainly India and Myanmar, then exports to China (main) and
Thailand via sea, road or airway. Besides, it also supplies
import-export services including customs procedures, transport, etc. The subject's head office is located at Suite 401, Inlaco Building, No.4, Nguyen Trai Street, Ngo Quyen District, Hai Phong City, Vietnam, besides, it does not have other office or branch. Its total employees are only 4 persons. According to Ms. Hien_the subject's staff, in 2011 the subject's
business result was bad but it was improved in 2012 and expected to be better
in 2013. In 2012, the subject reached VND 772,274,180 in turnover and over
VND 4 million in profit. In general, the subject is a small company. Its facilities and
management capacities are normal. However, its current business activities
seem busy and developing. Now, it only consists with small transactions. |
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INDUSTRY
DATA |
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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) |
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2012 |
2011 |
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Agriculture,
Forestry and Fishing |
2.72 |
4.00 |
8,887 |
24,362.9 |
95,227 |
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Industry
and Construction |
4.52 |
5.53 |
95,217 |
10,718.9 |
3,641,376 |
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Trade
and Services |
6.42 |
6.69 |
187,195 |
15,270.2 |
6,957,082 |
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ECONOMIC
INDICATORS |
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2012 |
2011 |
2010 |
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Population (Million
person) |
88.78 |
87.84 |
86.93 |
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Gross Domestic
Products (USD billion) |
136 |
119 |
102.2 |
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GDP Growth (%) |
5.03 |
5.89 |
6.78 |
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GDP Per Capita (USD/person/year) |
1,540 |
1,300 |
1,160 |
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Inflation (% Change
in Composite CPI) |
9.21 |
18.58 |
11.75 |
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State Budget
Deficit compared with GDP (%) |
4.8 |
4.9 |
5.8 |
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SERVICE
TRADE PERFORMANCE |
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Billion USD |
2012 |
2011 |
2010 |
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Exports |
114.6 |
96.3 |
72.2 |
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Imports |
114.3 |
105.8 |
84.8 |
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Trade Balance |
0.3 |
-9.5 |
-12.6 |
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Source:
General Statistics Office
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.38 |
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|
1 |
Rs.82.04 |
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Euro |
1 |
Rs.69.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
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 |
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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
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.