MIRA
INFORM REPORT
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Report Date : |
06.12.2013 |
IDENTIFICATION DETAILS
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Name : |
HA UYEN CO LTD |
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Registered Office : |
131 Nguyen Du St Hoa Binh Group Hoa Lac Ward, Mong Cai, Quang Ninh |
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Country : |
Vietnam |
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Financials (as on) : |
December 2012 |
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Date of Incorporation : |
25.06.2009 |
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Legal Form : |
Private Company with Limited Liability |
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Line of Business : |
Trader of Agricultural products, Chili, Peanuts & Sesame |
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No. of Employees : |
30 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
TATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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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 – September 30th, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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Vietnam |
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 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%.
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Source : CIA |
REGISTERED NAME & COMPANY
SUMMARY
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Company Details |
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Organization
Name |
: |
HA
UYEN CO LTD |
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Address |
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131
Nguyen Du St Hoa Binh Group Hoa Lac Ward, Mong Cai, Quang Ninh |
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Country |
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Vietnam |
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Phone
(S) |
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[+84]
33-3772092 |
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Facsimile |
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[+84]
33-3772047 |
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Email |
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Primary
Business Activity |
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Trader |
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Key
Industry |
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Agricultural
Products |
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Key Facts |
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Registered Legal Address |
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131
Nguyen Du St Hoa Binh Group Hoa Lac Ward, Mong Cai, Quang Ninh |
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Operational
Address |
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131
Nguyen Du St Hoa Binh Group Hoa Lac Ward, Mong Cai, Quang Ninh |
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Issuing
Authority |
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Dept.
of Planning & Investment - Quang Ninh |
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License
Number |
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5700623577 |
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License
Status |
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License
exists - Normal. |
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Legal
Form – Category |
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Private
Company with Limited Liability |
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Legal
Form |
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Company
Limited |
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Legal
Form - Abbreviation |
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CO
LTD |
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Operational
Status of Business |
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Normal |
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Date
of Registration |
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25
Jun, 2009 |
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Employees |
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30 |
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Capital |
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US$ 521,070 |
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Report Details |
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DIRECTORS/MANAGEMENT
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COMPANY MANAGEMENT |
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Management Listings |
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COMPANY DIRECTORS |
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NEGATIVE INFORMATION
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NEGA-SCAN - ADVERSE DATA MONITORING |
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SHARE & SHARE CAPITAL
INFORMATION
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CAPITAL (Currency: VND - Vietnam Dong) |
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SHAREHOLDERS |
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PAYMENT INFORMATION
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DOMESTIC SALES & PURCHASES |
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PAYMENT TERMS |
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Selling |
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Purchasing |
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INTERNATIONAL TRADE - Activity & Markets |
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FINANCIAL INFORMATION
Financials - Summary (Currency: USD - US Dollar)
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Year |
Sales |
Assets |
Net Income |
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2011 Annual |
12,427,556 |
5,503,313 |
2,640 |
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2012 Annual |
15,992,290 |
6,259,214 |
3,505 |
Sales Trend – Analysis
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2003 |
2004 |
2005 |
2006 |
2007 |
2008 |
2009 |
2010 |
2011 |
2012 |
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FINANCIAL STATEMENT - DETAILED |
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Balance Sheet |
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Income Statement |
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Financial Ratios |
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Based on the corporate laws of Vietnam, legal entities which are Private
Company with Limited Liability are not required to make public disclosure of
their annual financials. Although financials were obtained for reference. |
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FOREIGN EXCHANGE RATES
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Today's Exchange rate |
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ADDITIONAL INFORMATION
Primary Products
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Products / Materials / Services Description |
Activity |
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Agricultural products |
Trading |
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Chili |
Trading |
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Peanuts |
Trading |
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Sesame |
Trading |
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SIC PRODUCT CLASSIFICATION & ACTIVITY
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HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
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CORE BUSINESS DESCRIPTION |
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Core Business |
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The primary business focus of HA UYEN CO LTD is Trading - Finished
products. ·
Chili ·
Agricultural products ·
Peanuts ·
Sesame |
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Supplementary Business |
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In addition to the core business, HA UYEN CO LTD also is engaged in
the following areas of business: 1.
Exporting ·
Exporting - Finished products 2.
Importing ·
Importing - Finished products |
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REPUTATION |
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Reference checking for the purpose of establishing the HA UYEN CO
LTD's reputation within the respective industry failed to reveal any adverse
information. |
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BANK DETAILS |
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OFFICE & FACILITIES |
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PREVIOUS CONTACT DETAILS |
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PREVIOUS BUSINESS LICENSE/S |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.69 |
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1 |
Rs.101.08 |
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Euro |
1 |
Rs.84.07 |
INFORMATION DETAILS
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Report
Prepared by : |
MNL |
RATING EXPLANATIONS
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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 |
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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.