|
Report Date : |
05.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
TUDASI JOINT STOCK COMPANY |
|
|
|
|
Registered Office : |
No. 225 Xom Chieu Street, Ward 15, District 4, Ho Chi Minh City |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Date of Incorporation : |
10.10.2012 |
|
|
|
|
Com. Reg. No.: |
0312000527 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Wholesale of food |
|
|
|
|
No. of Employees : |
6 |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
|
Status : |
New Business |
|
Payment Behaviour : |
Unknown |
|
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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 has
been transitioning from the rigidities of a centrally-planned economy since
1986. Vietnamese authorities have reaffirmed their commitment to economic
modernization in recent years. Vietnam joined the World Trade Organization in
January 2007, which has promoted more competitive, export-driven industries.
Vietnam became an official negotiating partner in the Trans-Pacific Partnership
trade agreement in 2010. Agriculture's share of economic output has continued
to shrink from about 25% in 2000 to less than 22% in 2012, while industry's
share increased from 36% to nearly 41% in the same period. State-owned
enterprises account for roughly 40% of GDP. 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 hurt Vietnam's export-oriented economy, with GDP in 2012 growing at
5%, the slowest rate of growth since 1999. In 2012, however, exports increased
by more than 18%, year-on-year; several administrative actions brought the
trade deficit back into balance. Between 2008 and 2011, Vietnam's managed
currency, the dong, was devalued in excess of 20%, but its value remained stable
in 2012. Foreign direct investment inflows fell 4.5% to $10.5 billion in 2012.
Foreign donors have pledged $6.5 billion in new development assistance for
2013. Hanoi has oscillated between promoting growth and emphasizing
macroeconomic stability in recent years. In February 2011, the Government
shifted policy away from policies aimed at achieving a high rate of economic
growth, which had stoked inflation, to those aimed at stabilizing the economy,
through tighter monetary and fiscal control. Although Vietnam unveiled a broad,
"three pillar" economic reform program in early 2012, proposing the
restructuring of public investment, state-owned enterprises, and the banking
sector, little perceptible progress had been made by early 2013. Vietnam's economy
continues to face challenges from an undercapitalized banking sector.
Non-performing loans weigh heavily on banks and businesses. In September 2012,
the official bad debt ratio climbed to 8.8%, though some independent analysts
believe it could be higher than 15%.
Source
: CIA
SUBJECT IDENTIFICATION &
LEGAL FORM
|
||
|
|
||
Current legal status
|
||
|
Registered English Name |
|
TUDASI JOINT STOCK COMPANY |
|
Registered Vietnamese Name |
|
CONG TY CO PHAN TUDASI |
|
Registered Short name |
|
TUDASI JSC |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
2012 |
|
Business Registration No. |
|
0312000527 |
|
Date of Registration |
|
10 Oct 2012 |
|
Date of latest adjustment (2nd) |
|
07 Jun 2013 |
|
Place of Registration |
|
Business Registration Office - Planning
and Investment Department of Hochiminh City |
|
Chartered capital |
|
VND 2,000,000,000 |
|
Tax code |
|
0312000527 |
|
Total Employees |
|
6 |
Historical Identification & Legal form
|
List |
Changed Items |
|
1 |
Subject has got former Chartered capital:
VND 500,000,000 Changed to: VND 2,000,000,000 |
|
|
||
ADDRESSES
|
||
|
|
||
|
Head Office |
||
|
Address |
|
No. 225 Xom Chieu Street, Ward 15,
District 4, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 3940 0999 |
|
Fax |
|
(84-8) 3940 9015 |
|
Email |
|
|
|
Website |
|
|
|
|
||
DIRECTORS
|
||
|
|
||
|
NAME |
|
Mr.
LE THIEN DAM |
|
Position |
|
Director |
|
Date of Birth |
|
30 Mar 1964 |
|
ID Number/Passport |
|
12CC93473 |
|
ID Issue Date |
|
05 Jun 2012 |
|
ID Issue Place |
|
Consulate General of
France in Ho Chi Minh City |
|
Resident |
|
APPT 21B2, No. 12 Ton
Dan Street, Ward 13, District 4, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Qualification |
|
Management |
|
|
||
BUSINESS NATURE AND ACTIVITIES
|
|
|
|
Subject is focusing on wholesale and supply
lobster. -
Wholesale
of food -
Wholesale
on a fee or contract basis -
Processing
and preserving of meat -
Retail
sale of food stuff in specialized stores -
Processing
and preserving of fish, crustaceans and mollusks -
Processing
and preserving of fruit and vegetables -
Manufacture
of dairy products -
Manufacture
of prepared meals and dishes -
Manufacture
of other food products n.e.c. -
Management
consultancy activities |
|
|
IMPORT & EXPORT ACTIVITIES
|
|
|
|
IMPORT:
|
|
Note: Currently, the
subject does not import |
|
|
|
EXPORT:
|
|
Note: Currently, the
subject does not export |
|
|
||
BANKERS
|
||
|
|
||
|
ASIA
COMMERCIAL BANK KHANH HOI BRANCH |
||
|
Address |
|
No.130 Khanh Hoi Street, Ward 6, District 4, Ho Chi Minh City, Vietnam
|
|
Telephone |
|
(84-8) 5401 1224 |
|
Fax |
|
(84-8) 5401 1225 |
|
|
||
SHAREHOLDERS
|
||
|
|
||
|
1.
NAME |
|
Ms.
LE THI THU CUC |
|
ID Number/Passport |
|
024660435 |
|
Resident |
|
No. 123/15 Le Loi Street, Ward 3, Go Vap
District, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
54,000 |
|
Value of shares |
|
VND 540,000,000 |
|
Percentage |
|
27% |
|
|
||
|
2.
NAME |
|
Mr.
TRINH KHA BA DAT |
|
ID Number/Passport |
|
025203251 |
|
Resident |
|
No. 4A1-6 Sky Garden 2 Phu My Hung, Tan
Phong Ward, District 7, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
40,000 |
|
Value of shares |
|
VND 400,000,000 |
|
Percentage |
|
20% |
|
|
||
|
3.
NAME |
|
Mr.
NGUYEN VAN LE |
|
ID Number/Passport |
|
205043299 |
|
Resident |
|
Quang Gia, Dien Duong Commune , Dien Ban
District, Quang Nam Province, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
106,000 |
|
Value of shares |
|
VND 1,060,000,000 |
|
Percentage |
|
53% |
|
|
||
FINANCIAL DATA
|
|
Subject has just established since Oct 2012;
therefore its finance statement isn’t available. |
|
|
PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
||
|
|
||
|
Trade Morality |
|
Normal |
|
Liquidity |
|
N/A |
|
Payment status |
|
N/A |
|
Financial Situation |
|
N/A |
|
Development trend |
|
Developing |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
Direct payment or through its corresponding bank |
|
Sale Methods |
|
Retailer and Wholesaler |
|
Public opinion |
|
Limited |
|
|
INTERPRETATION ON THE SCORES
|
|
|
|
Subject
- TUDASI JOINT STOCK
COMPANY - has just established
since Oct 2012 as Joint Stock Company. Subject is now operating under
business registration No. 0312000527 and chartered capital of VND
2,000,000,000. Mr. Le Thien Dam is Director of
subject. Subject is focusing on wholesale lobsters,
especially American lobsters. Its products
are distributed in domestic market only. At current, subject doesn’t have
import-export activities directly. Its product sources are supplied by
partners in domestic market. Subject’s premises and facilities are normal. Subject’s head office locates at No. 225, Xom
Chieu Street, Ward 15, District 4, Ho Chi Minh City. In
general, subject has just started its operation in the end of 2012; therefore
its position and market share is unremarkable. It is activating in small
scale with 6 employees. Its management ability is normal. Its competition
capability is below average. In our opinion, caution needed for all business
transactions with subject. |
------------ APPENDIX ----------
INDUSTRY DATA
|
||||||
|
|
||||||
|
Industry code |
GDP growth speed
by price compared with 1994 (%) |
Total
enterprises 2010 |
Total employees
2011 (Thous.pers.) |
Annual average
capital of enterprises 2010 (billion dongs) |
||
|
2012 |
2011 |
|||||
|
Agriculture,
Forestry and Fishing |
2.72 |
4.00 |
8,887 |
24,362.9 |
95,227 |
|
|
Industry and
Construction |
4.52 |
5.53 |
95,217 |
10,718.9 |
3,641,376 |
|
|
Trade and
Services |
6.42 |
6.69 |
187,195 |
15,270.2 |
6,957,082 |
|
|
|
||||||
ECONOMIC INDICATORS
|
||||||
|
|
||||||
|
|
2012 |
2011 |
2010 |
|||
|
Population (Million person) |
88.78 |
87.84 |
86.93 |
|||
|
Gross Domestic Products (USD billion) |
136 |
119 |
102.2 |
|||
|
GDP Growth (%) |
5.03 |
5.89 |
6.78 |
|||
|
GDP Per Capita (USD/person/year) |
1,540 |
1,300 |
1,160 |
|||
|
Inflation (% Change in Composite CPI) |
9.21 |
18.58 |
11.75 |
|||
|
State Budget Deficit compared with GDP (%) |
4.8 |
4.9 |
5.8 |
|||
|
|
||||||
SERVICE TRADE PERFORMANCE
|
||||||
|
|
||||||
|
Billion
USD |
2012 |
2011 |
2010 |
|||
|
Exports |
114.6 |
96.3 |
72.2 |
|||
|
Imports |
114.3 |
105.8 |
84.8 |
|||
|
Trade Balance |
0.3 |
-9.5 |
-12.6 |
|||
Source: General
Statistics Office
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.80 |
|
|
1 |
Rs.91.95 |
|
Euro |
1 |
Rs.80.36 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.