MIRA INFORM REPORT

 

 

Report Date :

18.12.2013

 

IDENTIFICATION DETAILS

 

Name :

AN NONG CO LTD

 

 

Registered Office :

Lot B06-1 Duc Hoa 1 Hanh Phuc Industrial Zone, Duc Hoa, Long An

 

 

Country :

Vietnam

 

 

Date of Incorporation :

08.12.2009

 

 

Legal Form :

Private Company with Limited Liability

 

 

Line of Business :

Trading in Finished products

Products include :

·            Agricultural chemicals

·            Fertilizers

 

 

No. of Employees :

220

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No complaints

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 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

 

REGISTERED NAME & COMPANY SUMMARY

 

Company Details

 

Organization Name

:

AN NONG CO LTD

Address

:

Lot B06-1 Duc Hoa 1 Hanh Phuc Industrial Zone, Duc Hoa, Long An

Country

:

Vietnam

Phone (S)

:

[+84] 72-3779978

Facsimile

:

[+84] 72-3779901

Website

:

www.annong.com.vn

Primary Business Activity

:

Trader

Key Industry

:

Chemicals

 

 

Key Facts

 

Registered Legal Address

:

Lot B06-1 Duc Hoa 1 Hanh Phuc Industrial Zone, Duc Hoa, Long An

Operational Address

:

Lot B06-1 Duc Hoa 1 Hanh Phuc Industrial Zone, Duc Hoa, Long An

Issuing Authority

:

Dept. of Planning & Investment - Long An

License Number

:

1100665779

License Status

:

License exists - Normal.

Legal Form - Category

:

Private Company with Limited Liability

Legal Form

:

Company Limited

Legal Form - Abbreviation

:

CO LTD

Operational Status of Business

:

Normal

Date of Registration

:

8 Dec, 2009

Employees

:

220

Capital

:

US$ 473,700

 

 

Report Details

 

 

Country

:

Vietnam

Business Entity Name

:

AN NONG CO LTD

Primary Business Activity

:

Trader

Primary Industry

:

Chemicals

Office Contact Details

Operating Address

:

Lot B06-1 Duc Hoa 1 Hanh Phuc Industrial Zone, Duc Hoa, Long An

Tel

:

[+84] 72-3779978

 

:

[+84] 72-3779979

 

:

[+84] 72-3779900

Fax

:

[+84] 72-3779901

Website Details

Website

:

http://www.annong.com.vn

Status

:

Normal - operational

Country of Registration

:

Vietnam

Ownership Type

:

Registered ownership by Subject Business Entity

Tax / VAT Details

Tax Issuing Authority

:

Ministry of Finance

Local Name Used

:

Gia Trj Gia Tang (Value Added Tax)

Acronym

:

GTGT / VAT

GTGT / VAT Number

:

1100665779

 

 

 

DIRECTORS/MANAGEMENT

 

 

COMPANY MANAGEMENT

 

 

 

Management Listings

 

 

Name

Nationality

Job Description

Dept. / Division

1

Ms. Le Thi Nga

Vietnamese

Chief Accountant

-

2

Mr. Tran Minh Phuong

Vietnamese

Vice Director

-

 

 

Management Details - 1

Personal Unique Identifier

:

MI03585398

Name

:

Ms. Le Thi Nga

 

Date of Birth

:

1968

 

 

Management Details - 2

Personal Unique Identifier

:

MI03585393

Name

:

Mr. Tran Minh Phuong

 

Date of Birth

:

1953

 

 

COMPANY DIRECTORS

 

1

 

 

Personal Unique Identifier

:

MI03585382

Name

:

Ms. Truong Thi Thuy Truong

Date of Birth

:

1966

Nationality

:

Vietnamese

 

 

NEGATIVE INFORMATION

 

 

REPUTATION

 

Reference checking for the purpose of establishing the AN NONG CO LTD's reputation within the respective industry failed to reveal any adverse information.

 

 

NEGA-SCAN - ADVERSE DATA MONITORING

 

 

DISHONORED CHECKS

 

No Record Found

 

 

DEBT

 

No Record Found

 

 

LITIGATION

 

No Record Found

 

 

PERFORMANCE DEFAULTS

 

No Record Found

 

 

ADVERSE LOCAL MEDIA COVERAGE / ADVERSE FILING HISTORY

 

No Record Found

 

 

SHARE & SHARE CAPITAL INFORMATION

 

 

CAPITAL (Currency: VND - Vietnam Dong)

 

Authorized Capital

:

10,000,000,000

 

 

SHAREHOLDERS

 

Total number of shareholders

:

2

Total number of shares

:

n/a

 

Currency

:

VND - Vietnam Dong

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

Ms. Truong Thi Thuy Truong

Vietnam

n/a

n/a

60.00

2

Mr. Hoang Hai

Vietnam

n/a

n/a

40.00

Total

n/a

n/a

100.00

 

 

Based on corporate statutory laws / regulations in Vietnam, there is no requirement for public disclosure of Shareholders. In this case, the Shareholders information was supplied by the Subject Business Entity.
However in the absence of data normally obtained from local Statutory Authorities, it is not possible to verify the accuracy of data supplied and hence is provided as reference ONLY.

 

 

PAYMENT INFORMATION

 

 

PAYMENT TERMS

 

Selling

 

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~90 days

 

Purchasing

 

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~90 days

Import

Letter of Credit (At-sight)

Telegraphic Transfer (T/T) - Executed at time of transaction

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

 

STRATEGIC PARTNER/S & ALLIANCES

 

 

Group / Alliance name

:

AN NONG GROUP

 

 

FINANCIAL INFORMATION

 

 

FINANCIAL STATEMENT - DETAILED

 

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. Therefore no financials are available for this entity.

 

 

FOREIGN EXCHANGE RATES

 

Today's Exchange rate

:

1.00 VND
Vietnam Dong

=

0.000047 USD
United States Dollars

 

 

ADDITIONAL INFORMATION

 

Primary Products

Products / Materials / Services Description

Activity

Agricultural chemicals

Importing, Trading

Fertilizers

Importing, Trading

 

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Product/Service Description

Code

Activity

Agricultural pesticides and other agricultural chemicals, nspf

2879

Importing, Trading

Chemicals and fertilizer minerals

1479

Importing, Trading

 

 

 

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Product/Service Description

Code

Activity

Fertilizers

3100

Importing, Trading

Fertilizers

3105900000

Importing, Trading

Other fertilizers

3105900050

Importing, Trading

Other pesticides nesoi

2933902200

Importing, Trading

Pesticides

2909303000

Importing, Trading

 

 

 

 

CORE BUSINESS DESCRIPTION

 

 

 

Core Business

 

The primary business focus of AN NONG CO LTD is Trading - Finished products.

Key products include :

Agricultural chemicals

Fertilizers

 

 

 

Supplementary Business

 

In addition to the core business, AN NONG CO LTD also is engaged in the following areas of business:

Importing

Importing - Finished products

 

 

 

DOMESTIC SALES & PURCHASES

 

 

 

Annual Sales Analysis

Percentage

Domestic Sales

100%

 

 

 

 

Annual Purchases Analysis

Percentage

Local Purchases

95%

Imports

5%

 

 

 

 

BANK DETAILS

 

 

 

Bank Name

:

DONG A COMMERCIAL JOINT STOCK BANK

Global Identifier

:

P1007587

Branch

:

Phu Nhuan,Ho Chi Minh

Branch Address

:

130 Phan Dang Luu Ward 3 Phu Nhuan Ho Chi Minh (Head Office)

SWIFT Code

:

EACBVNVX

 

 

 

INTERNATIONAL TRADE - Activity & Markets

 

 

 

 

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing

China

Medium

Importing

India

Medium

Importing

 

 

 

 

OFFICE & FACILITIES

 

 

 

Name

:

AN NONG CO LTD - DUC HOA, LONG AN

Address

:

Lot B06-1 Duc Hoa 1 Hanh Phuc Industrial Zone, Duc Hoa, Long An

Country

:

Vietnam

Status

:

Operational

 

 

 

PREVIOUS BUSINESS LICENSE/S

 

 

 

License Date

License No.

25 Feb, 2005

5002000517

 

NOTES & COMMENTS

 

Na

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.96

UK Pound

1

Rs.101.14

Euro

1

Rs.85.33

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIS

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.