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Report Date : |
16.08.2013 |
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Tel. No.: |
+0084 31 3262443 |
IDENTIFICATION DETAILS
|
Name : |
CAM GIANG COMMERCIAL IMPORT EXPORT JOINT STOCK COMPANY |
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Registered Office : |
No 16, Group 3, Area 2 Tran Phu Ward, Mong Cai City, Quang Ninh Province |
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Country : |
Vietnam |
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Date of Incorporation : |
06.01.2012 |
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Com. Reg. No.: |
5701572300 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
The subject is operating with the kind business of re-exportation. It imports goods (mainly dried fruits) from Thailand and HongKong, then export them to China. |
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No. of Employees : |
10 |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
|
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 |
|
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
|
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|
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||
|
English Name |
|
CAM GIANG COMMERCIAL IMPORT EXPORT JOINT
STOCK COMPANY |
|
Vietnamese Name |
|
CONG TY CO PHAN THUONG MAI XUAT NHAP KHAU
CAM GIANG |
|
Short name |
|
CAM GIANG .,JSC |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
2012 |
|
Business Registration No. |
|
5701572300 |
|
Date of Registration |
|
06 Jan 2012 |
|
Place of Registration |
|
Quang Ninh Department of Planning and
Investment |
|
Chartered capital |
|
VND 3,600,000,000 |
|
Status |
|
Unlisted |
|
Tax code |
|
5701572300 |
|
Total Employees |
|
10 |
ADDRESSES
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Head Office |
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Address |
|
No 16, Group 3, Area 2 Tran Phu Ward, Mong
Cai City, Quang Ninh Province, Vietnam |
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Telephone |
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(84-33) 3881605 |
|
Fax |
|
(84-33) 3881224 |
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Email |
|
|
|
Note: the subject has a warehouse in Haiphong city. The given phone
number (84-31-3262443) belongs warehouse. |
||
DIRECTORS
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||
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|
1.
NAME |
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Mr.
PHUONG THUC |
|
Position |
|
Director |
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ID Number/Passport |
|
100778261 |
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ID Issue Date |
|
06 Aug 2011 |
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ID Issue Place |
|
Quang Ninh Deparment
of Public Security |
|
Resident |
|
Group 3, Area 2 Tran
Phu Ward, Mong Cai City, Quang Ninh Province, Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobile phone |
|
++841686962999 |
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BUSINESS NATURE AND ACTIVITIES
|
|
|
|
The
subject is operating with the kind business of re-exportation. It imports
goods (mainly dried fruits) from Thailand and HongKong, then export them to
China. |
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IMPORT & EXPORT ACTIVITIES |
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IMPORT: |
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·
Market |
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Thailand and Hongkong |
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·
Ratio |
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100% |
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·
Mode of payment |
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TT |
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EXPORT: |
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·
Market |
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China |
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BANKERS
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1.
BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM MONG CAI BRANCH |
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Address |
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Hung Vuong str, Mong Cai City, Quang Ninh Province, Vietnam |
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Telephone |
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(84-33) 3881121 |
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|
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2.
VIET NAM BANK FOR AGRICULTURE AND RURAL DEVELOPMENT MONG CAI BRANCH |
||
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Address |
|
No.24 Chu Van An Street, Hoa Lac Ward, Mong Cai City, Quang Ninh
Province, Vietnam |
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Telephone |
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(84-33) 3777 177 |
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Fax |
|
(84-33) 3777 175 |
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SHAREHOLDERS
|
||
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||
|
1.
NAME |
|
Mr.
PHUONG THUC |
|
Position |
|
Director |
|
ID Number/Passport |
|
100778261 |
|
Issued on |
|
06 Aug 2011 |
|
Issued Place |
|
Quang Ninh Deparment of Public Security |
|
Resident |
|
Group 3, Area 2 Tran Phu Ward, Mong Cai
City, Quang Ninh Province, Vietnam |
|
Mobile phone |
|
++841686962999 |
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Nationality |
|
Vietnamese |
|
Number of Shares |
|
22,000 |
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Value of shares |
|
VND 2,200,000,000 |
|
Percentage |
|
61.11% |
|
|
||
|
2.
NAME |
|
Ms.
VY THI THANH |
|
ID Number/Passport |
|
100139508 |
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Issued Place |
|
Quang Ninh Deparment of Public Security |
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Resident |
|
Group 2, Area 1 Tran Phu Ward, Mong Cai
City, Quang Ninh Province, Vietnam |
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Nationality |
|
Vietnamese |
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Number of Shares |
|
8,000 |
|
Value of shares |
|
VND 800,000,000 |
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Percentage |
|
22.22% |
|
|
||
|
3.
NAME |
|
Ms.
PHUONG THI THUY |
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ID Number/Passport |
|
100818633 |
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Issued Place |
|
Quang Ninh Deparment of Public Security |
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Resident |
|
Group 3, Area 1 Tran Phu Ward, Mong Cai
City, Quang Ninh Province, Vietnam |
|
Nationality |
|
Vietnamese |
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Number of Shares |
|
6,000 |
|
Value of shares |
|
VND 600,000,000 |
|
Percentage |
|
16.67% |
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|
||
FINANCIAL DATA
|
|
NA |
PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
||
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Trade Morality |
|
Normal |
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Liquidity |
|
N/A |
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Payment status |
|
N/A |
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Financial Situation |
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Average |
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Development trend |
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N/A |
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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 |
|
mainly TT |
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Sale Methods |
|
To contracts |
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INTERPRETATION ON THE SCORES
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|
|
|
The subject was established in Jan 2012 under
business registration number 5701572300, issued by Quang Ninh
Department of Planning and Investment. Chartered capital of the company is VND
3.6 million, in which Mr. Phuong Thuc, director of the firm is holding 66.11%
of it. Subject’s
head office is at No 16, Group 3, Area 2 Tran Phu Ward, Mong Cai City, Quang
Ninh Province, Vietnam. Besides, the company also has a warehouse in Hai
Phong city. It is a small company with total labor of 10 people. The subject is operating with the kind business of
re-exportation. It imports goods (mainly dried fruits) from Thailand and
HongKong, then export them to China. Being a new company in the market, position
of the firm is still limited and it needs times to develop in the future. Financial, the company reached VND 46 billion in
2012, the first year of operating, said by director Mr. Phuong Thuc. Although
the company is a small and new enterprise. Caution needed for all medium-big
business transaction with the company at present. |
------------ 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 |
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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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|
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.61.51 |
|
|
1 |
Rs.94.98 |
|
Euro |
1 |
Rs.81.62 |
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.