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Report Date : |
13.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
NGHE AN ULTRA-FINE WHITE STONE POWDER JOINT STOCK COMPANY |
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Registered Office : |
Lot C, Nam Cam Industrial Zone, Nghi Xa Commune, Nghi Loc District, Nghe An Province |
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Country : |
Vietnam |
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Date of Incorporation : |
10.02.2012 |
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Com. Reg. No.: |
2901490610 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Currently, the subject is specialized in manufacturing and trading white stone powder. |
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No. of Employees : |
About 70 (including both official labor and casual employees) |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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 – 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 |
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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 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
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Registered English Name |
|
NGHE AN ULTRA-FINE WHITE STONE POWDER
JOINT STOCK COMPANY |
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Registered Vietnamese Name |
|
CONG TY CP BOT DA VOI TRANG SIEU MIN NGHE
AN |
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Type of Business |
|
Joint stock company |
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Year Established |
|
2012 |
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Business Registration No. |
|
2901490610 |
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Date of Registration |
|
10 Feb 2012 |
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Place of Registration |
|
Nghe An Department of Planning and
Investment |
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Chartered capital |
|
VND 55,000,000,000 |
|
Status |
|
Unlisted |
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Tax code |
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2901490610 |
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Total Employees |
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About 70 (including both official labor
and casual employees) |
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Note: The exact name of the subject is above |
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ADDRESSES
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Head Office |
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Address |
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Lot C, Nam Cam Industrial Zone, Nghi Xa
Commune, Nghi Loc District, Nghe An Province, Vietnam |
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Telephone |
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(84-38) 3791369 |
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Fax |
|
(84-38) 3791369 |
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Note: The exact address of the subject is above
(Lot C not Lote) |
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SUBSIDIARIES AND RELATED
COMPANIES
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PARENT COMPANY -
NGHE AN MINERAL JOINT STOCK COMPANY |
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Business Registration |
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2900324579 |
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Date of Registration |
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02 Jul 2010 |
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Place of Registration |
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Nghe An Department of Planning and Investment |
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Tax code |
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2900324579 |
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Address |
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No. 2 Le Hong Phong Str, Vinh City, Nghe An Province, Vietnam |
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Tel |
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(84-38) 3832 650/3561 904/3835 591 |
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Fax |
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(84-38) 3845 808 |
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Website |
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DIRECTORS
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1.
NAME |
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Mr.
TRUONG SY BA |
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Position |
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Chairman |
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Date of Birth |
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20 Oct 1967 |
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ID Number/Passport |
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013332543 |
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ID Issue Date |
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14 Aug 2010 |
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ID Issue Place |
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Hanoi Police
Department |
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Resident |
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Room 810, 18T2 House,
Trung Hoa Nhan Chinh Tenement Zone, Nhan Chinh Ward, Thanh Xuan District, Ha
Noi City, Vietnam |
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Nationality |
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Vietnamese |
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2.
NAME |
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Mr.
DANG VAN SU |
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Position |
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Director |
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ID Number/Passport |
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181922106 |
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Resident |
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Quynh Hong Commune,
Quynh Luu District, Nghe An Province, Vietnam |
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Nationality |
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Vietnamese |
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3.
NAME |
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Ms.
QUE THI BINH |
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Position |
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Chief Accountant |
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Nationality |
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Vietnamese |
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BUSINESS NATURE AND ACTIVITIES
|
|
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Currently,
the subject is specialized in manufacturing and trading white stone powder. |
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IMPORT & EXPORT ACTIVITIES |
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IMPORT: Currently, the subject
does not import |
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EXPORT: |
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·
Types of products |
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White stone powder |
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·
Market |
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Bangladesh and India |
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BANKERS
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1.
JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM VINH BRANCH |
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Address |
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No.21 Quang Trung, Vinh City, Nghe An Province, Vietnam |
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Telephone |
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(84-38) 3842033 |
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Fax |
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(84-38) 3842192 |
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2.
BAO VIET JOINT STOCK COMMERCIAL BANK NGHE AN BRANCH |
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Address |
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No.105 Nguyen Thi Minh Khai Le Mao Ward, Vinh City, Nghe An Province,
Vietnam |
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Telephone |
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(84-38) 3550 669 |
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Fax |
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(84-38) 3550 699 |
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SHAREHOLDERS
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1.
NAME |
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NGHE
AN MINERAL JOINT STOCK COMPANY |
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Business Registration |
|
2900324579 |
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Date of Registration |
|
02 Jul 2010 |
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Place of Registration |
|
Nghe An Department of Planning and Investment |
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Chartered Capital |
|
VND 42,816,000,000 |
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Tax code |
|
2900324579 |
|
Address |
|
No. 2 Le Hong Phong Str, Vinh City, Nghe An
Province, Vietnam |
|
Tel |
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(84-38) 3832 650/3561 904/3835 591 |
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Fax |
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(84-38) 3845 808 |
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Email |
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sales@namco.com.vn |
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Website |
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http://www.namco.com.vn |
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Number of shares |
|
4,015,000 |
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Value of shares |
|
VND 40,150,000,000 |
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Percentage |
|
73% |
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||
|
2.
NAME |
|
Mr.
DANG VAN SU |
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Position |
|
Director |
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ID Number/Passport |
|
181922106 |
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Resident |
|
Quynh Hong Commune, Quynh Luu District,
Nghe An Province, Vietnam |
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Nationality |
|
Vietnamese |
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Number of Shares |
|
880,000 |
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Value of shares |
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VND 8,800,000,000 |
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Percentage |
|
16% |
|
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3.
NAME |
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Mr.
TRAN VAN QUE |
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ID Number/Passport |
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187187973 |
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Resident |
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Vinh Tan Ward, Vinh City, Nghe An
Province, Vietnam |
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Nationality |
|
Vietnamese |
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Number of Shares |
|
605,000 |
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Value of shares |
|
VND 6,050,000,000 |
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Percentage |
|
11% |
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FINANCIAL DATA
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N/A |
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PAYMENT HISTORY & PERFORMANCE EXPERIENCES
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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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N/A |
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Sale Methods |
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Wholesaler |
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INTERPRETATION ON THE SCORES
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The
subject was established in early 2012 as a joint stock company. It was
granted the business registration No. 2901490610 (same as the tax code) by
Nghe An Department of Planning and Investment. Its chartered capital is VND
55 billion, in which 73% is contributed by NGHE AN MINERAL JOINT STOCK
COMPANY, which was founded in 1993 and operates in field of exploiting,
processing and trading mineral products. Currently,
the subject only focuses on manufacturing and trading white stone powder. Its
head office and factory are located at Lot C – Nam Cam Industrial Zone – Nghi
Xa Commune – Nghi Loc District – Nghe An Province. There are about 70
employees working for it (including both official labor and casual labor).
The subject now does not import. Its products are at once supplied for
domestic market and exported to foreign country, mainly India and Bangladesh.
According to the subject’s staff, in the future, the subject will participate
in operation of processing stone. Being
a newly-born business, the subject’s financial data is unavailable in our
source. In
general, the subject is a young business and has small scale but it has
received much support from its parent company. It can develop better in the
future; however, it only consists with small transactions now. Caution is
needed for medium and big ones. |
------------ APPENDIX ----------
INDUSTRY DATA
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|
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 |
|
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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 |
|||
|
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 |
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SERVICE TRADE PERFORMANCE
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||||||
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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.94.21 |
|
Euro |
1 |
Rs.81.03 |
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.