MIRA INFORM REPORT

 

 

Report Date :

20.12.2013

 

IDENTIFICATION DETAILS

 

Name :

DIEULONG TRADING CONTRUCTION CO LTD

 

 

Registered Office :

906 Lac Long Quan St Ward 8, Tan Binh Dist, Ho Chi Minh

 

 

Country :

Vietnam

 

 

Financials (as on) :

2012

 

 

Date of Incorporation :

15.12.2009

 

 

Legal Form :

Private Company with Limited Liability

 

 

Line of Business :

Trader of Metals & Metal Products

 

 

No. of Employees :

60

 

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 :

Slow but correct

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

:

DIEULONG TRADING CONTRUCTION CO LTD

Address

:

906 Lac Long Quan St Ward 8, Tan Binh Dist, Ho Chi Minh

Country

:

Vietnam

Phone (S)

:

[+84] 8-39741521

Facsimile

:

[+84] 8-39741670

Website

:

www.dieulong.com.vn

Primary Business Activity

:

Trader

Key Industry

:

Metals & Metal Products

 

 

DIRECTORS/MANAGEMENT

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Ms. Nguyen Thi Thuy Nga

Vietnamese

Chief Accountant

-

2

Ms. Dang Thi Thuy Trang

Vietnamese

Vice Director

-

Management Details - 1

Personal Unique Identifier

:

MI03599120

Name

:

Ms. Nguyen Thi Thuy Nga

 

Management Details - 2

Personal Unique Identifier

:

MI03599113

Name

:

Ms. Dang Thi Thuy Trang

 

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03599111

Name

:

Ms. Dang Thi Linh Phuong

Date of Birth

:

1974

Nationality

:

Vietnamese

 

 

NEGATIVE INFORMATION

 

REPUTATION

Reference checking for the purpose of establishing the DIEULONG TRADING CONTRUCTION 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

:

US$ 838,449

 

CAPITAL (Currency: VND - Vietnam Dong)

Authorized Capital

:

17,700,000,000

 

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. Dang Thi Linh Phuong

Vietnam

n/a

n/a

99.48

2

Ms. Dang Thi Thuy Trang

Vietnam

n/a

n/a

0.52

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

 

DOMESTIC SALES & PURCHASES

Annual Sales Analysis

Percentage

Domestic Sales

100%

Annual Purchases Analysis

Percentage

Local Purchases

70%

Imports

30%

 

PAYMENT TERMS

Selling

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~60 days

Purchasing

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~60 days

Import

Letter of Credit (At-sight)

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

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

N/a

 

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

Year

Sales

Assets

Net Income

2010 Annual  

18,222,678

3,833,761

352,437

2011 Annual  

20,582,189

4,762,938

94,431

2012 Annual  

20,686,340

5,710,057

47,972

 

Sales Trend – Analysis

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

-

-

-

-

-

-

-

-

 

 

FINANCIAL STATEMENT - DETAILED

Balance Sheet

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2010 Annual

2011 Annual

2012 Annual

Current Assets

62,315,000,000

81,225,000,000

74,912,000,000

Non Current Assets

12,405,000,000

17,987,000,000

43,998,000,000

Non Current Liabilities

904,000,000

11,000,000

11,000,000

Share Capital

7,700,000,000

17,700,000,000

17,700,000,000

Other long term assets 

Total Assets

74,720,000,000

99,212,000,000

118,910,000,000

Total Liabilities

66,441,000,000

81,444,000,000

100,564,000,000

Current Liabilities

65,537,000,000

81,433,000,000

100,553,000,000

Long term liabilities 

Shareholders Funds

8,279,000,000

17,768,000,000

18,346,000,000

 

Assets 

Current assets & short term investments

62,315,000,000

81,225,000,000

74,912,000,000

Cash & cash equivalents

3,853,000,000

667,000,000

5,984,000,000

Cash

3,853,000,000

667,000,000

5,984,000,000

Accounts receivable

33,893,000,000

23,341,000,000

27,133,000,000

Accounts receivable trade

23,321,000,000

22,451,000,000

26,648,000,000

Trade prepayment

11,416,000,000

-

-

Inter company receivables

19,000,000

19,000,000

19,000,000

Others receivables

(863,000,000)

871,000,000

466,000,000

Inventories

22,992,000,000

55,889,000,000

39,048,000,000

Other short term asset

1,577,000,000

1,328,000,000

2,747,000,000

Prepaid expenses

1,000,000

7,000,000

-

VAT deductible

671,000,000

1,317,000,000

2,743,000,000

Other tax receivables

905,000,000

4,000,000

4,000,000

Long term assets

12,405,000,000

17,987,000,000

43,998,000,000

Fixed assets

12,405,000,000

17,121,000,000

21,896,000,000

Tangible fixed assets

2,669,000,000

4,147,000,000

4,257,000,000

Cost (i)

3,770,000,000

5,541,000,000

6,230,000,000

Accumulated depreciation

1,101,000,000

1,394,000,000

1,973,000,000

Intangible fixed assets

9,736,000,000

12,974,000,000

12,974,000,000

Cost (ii)

9,736,000,000

12,974,000,000

12,974,000,000

Construction in progress

-

-

4,665,000,000

Long term investments

-

714,000,000

22,000,000,000

Other long term investments

-

714,000,000

22,000,000,000

Other long term assets

-

152,000,000

102,000,000

Long term prepayments

-

152,000,000

102,000,000

Total assets

74,720,000,000

99,212,000,000

118,910,000,000

Liabilities (i) 

Liabilities (ii)

66,441,000,000

81,444,000,000

100,564,000,000

Current liabilities

65,537,000,000

81,433,000,000

100,553,000,000

Short term borrowings

20,216,000,000

1,396,000,000

11,364,000,000

Accounts payables-trade

33,347,000,000

70,212,000,000

88,607,000,000

Taxes and payable to state budget

-

1,226,000,000

569,000,000

Other payables

11,974,000,000

8,599,000,000

13,000,000

Long term liabilities

904,000,000

11,000,000

11,000,000

Long term borrowings

892,000,000

-

-

Provision funds for unemployment

12,000,000

11,000,000

11,000,000

Owner's Equity (i) 

Owner's equity (ii)

8,279,000,000

17,768,000,000

18,346,000,000

Owner's equity (iii)

8,254,000,000

17,768,000,000

18,346,000,000

Business capital

7,700,000,000

17,700,000,000

17,700,000,000

Foreign exchange differences

(3,584,000,000)

(2,723,000,000)

(2,723,000,000)

Other funds from owner's equity

448,000,000

473,000,000

473,000,000

Retained earnings

3,690,000,000

2,318,000,000

2,896,000,000

Budget sources

25,000,000

-

-

Bonus and welfare funds

25,000,000

-

-

Total resources

74,720,000,000

99,212,000,000

118,910,000,000

Income Statement

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2010 Annual

2011 Annual

2012 Annual

Turnover

355,160,000,000

428,727,000,000

430,786,000,000

Profit (Loss) Before Tax

7,403,000,000

2,521,000,000

1,348,000,000

Profit After Tax attributable to Shareholders

6,869,000,000

1,967,000,000

999,000,000

 

Gross sales

355,160,000,000

428,727,000,000

430,786,000,000

Less deductions

-

27,000,000

89,000,000

Net income

355,160,000,000

428,700,000,000

430,697,000,000

Cost of goods sold

347,559,000,000

415,108,000,000

418,146,000,000

Gross margin

7,601,000,000

13,592,000,000

12,551,000,000

Income from financial activities

6,077,000,000

1,863,000,000

377,000,000

Expenses from financial activities

949,000,000

4,357,000,000

2,175,000,000

In which: Interest expenses

899,000,000

2,317,000,000

1,481,000,000

Selling expenses

1,291,000,000

1,833,000,000

2,924,000,000

General & administration expenses

3,866,000,000

6,457,000,000

6,354,000,000

Net income from operating activities

7,572,000,000

2,808,000,000

1,475,000,000

Extraordinary income

100,000,000

28,000,000

300,000,000

Extraordinary expenses

269,000,000

315,000,000

427,000,000

Extraordinary gains

(169,000,000)

(287,000,000)

(127,000,000)

Net profit before tax

7,403,000,000

2,521,000,000

1,348,000,000

Income tax

534,000,000

554,000,000

349,000,000

Net profit after tax

6,869,000,000

1,967,000,000

999,000,000

Financial Ratios

Financial Highlights

2010 Annual

2011 Annual

2012 Annual

Growth % 

Year-on-Year Growth

-

20.71

0.48

Profitability 

Profit Margin (%)

1.93

0.46

0.23

Return on Equity (%)

82.97

11.07

5.45

Return on Assets (%)

9.19

1.98

0.84

Leverage 

Total Debt Equity (Times)

8.03

4.58

5.48

Current Debt Equity (Times)

7.92

4.58

5.48

Long Term Debt to Equity

0.11

0.00

0.00

Total Asset To Total Equity

9.03

5.58

6.48

Asset Management 

Total Assets Turnover (Times)

4.75

4.32

3.62

Fixed Assets Turnover (Times)

28.63

23.84

9.79

Liquidity 

Current Ratio

0.95

1.00

0.75

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.

 

 

FOREIGN EXCHANGE RATES

 

Today's Exchange rate

:

1.00 VND
Vietnam Dong

=

0.000047 USD
United States Dollars

 

 

ADDITIONAL INFORMATION

 

Key Facts

Registered Legal Address

:

906 Lac Long Quan St Ward 8, Tan Binh Dist, Ho Chi Minh

Operational Address

:

906 Lac Long Quan St Ward 8, Tan Binh Dist, Ho Chi Minh

Trading Name

:

DIEU LONG

Issuing Authority

:

Dept. of Planning & Investment - Ho Chi Minh

License Number

:

0302000905

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

:

15 Dec, 2009

Employees

:

60

 

Report Details

Country

:

Vietnam

Business Entity Name

:

DIEULONG TRADING CONTRUCTION CO LTD

Primary Business Activity

:

Trader

Primary Industry

:

Metals & Metal Products

Office Contact Details

Operating Address

:

906 Lac Long Quan St Ward 8, Tan Binh Dist, Ho Chi Minh

Tel

:

[+84] 8-39741521

Fax

:

[+84] 8-39741670

Website Details

Website

:

http://www.dieulong.com.vn

Status

:

Normal - operational

Country of Registration

:

Vietnam

Ownership Type

:

Registered ownership by Subject Business Entity

 

Primary Products

Products / Materials / Services Description

Activity

Cast metal products

Importing, Trading

Fireproof materials

Importing, Trading

Metals

Importing, Trading

Non-metal products

Importing, Trading

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Business Consulting Svcs, NEC

8748

Service

Fabricated metal products, nspf

3499

Importing, Trading

Heavy Construction, NEC

1629

Service

Primary metal products, nspf

3399

Importing, Trading

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Base metals nesoi; cermets; articles etc.

8100

Importing, Trading

Business development/consulting

9878

Service

Castors, and parts thereof, of base metal

8302200000

Importing, Trading

Hardware, fixtures, castors etc & parts, base metal

8302

Importing, Trading

Heavy construction

9818

Service

Miscellaneous articles of base metal

8300

Importing, Trading

 

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

Products / Materials / Services Description

Ranking

Activity

Construction

Secondary

Service

Construction consultancy

Secondary

Service

 

 

 

 

 

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of DIEULONG TRADING CONTRUCTION CO LTD is Trading - Finished products.

Key products include :

Cast metal products

Fireproof materials

Metals

Non-metal products

Supplementary Business

In addition to the core business, DIEULONG TRADING CONTRUCTION CO LTD also is engaged in the following areas of business:

Importing

Importing - Finished products

 

BANK DETAILS

Bank Name

:

ASIA COMMERCIAL BANK

Global Identifier

:

P0075118

Branch

:

District 3,Ho Chi Minh

Branch Address

:

ASIA COMMERCIAL BANK - PHU THO

SWIFT Code

:

ASCBVNVX

 

Bank Name

:

TAIPEI FUBON COMMERCIAL BANK CO LTD BINH THANH BRANCH

Global Identifier

:

P1392674

Branch

:

Binh Thanh,Ho Chi Minh

Branch Address

:

TAIPEI FUBON COMMERCIAL BANK CO LTD BINH THANH BRANCH - HO CHI MINH

SWIFT Code

:

TPBKVNVX

 

 

INTERNATIONAL TRADE - Activity & Markets

 

Country / Region

Estimated level of importance

Trading Activity

Africa

Medium

Importing

Asia / Pacific

Medium

Importing

North America

Medium

Importing

Australia

Medium

Importing

China

Medium

Importing

Japan

Medium

Importing

South Africa

Medium

Importing

Taiwan

Medium

Importing

USA

Medium

Importing

 

OFFICE & FACILITIES

Name

:

DIEULONG TRADING CONTRUCTION CO LTD - TAN BINH DIST, HO CHI MINH

Address

:

906 Lac Long Quan St Ward 8, Tan Binh Dist, Ho Chi Minh

Country

:

Vietnam

Status

:

Operational

 

 

 

 

 

 

 

PREVIOUS CONTACT DETAILS

Company Address

:

1017/6/28 Lac Long Quan Ward 11, Tan Binh Dist, Ho Chi Minh

Date of Relocation

:

22 Nov, 2012

 

 

PREVIOUS BUSINESS LICENSE/S

License Date

License No.

25 May, 2000

4102001153

 

NOTES & COMMENTS

 

N/a

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.38

UK Pound

1

Rs.102.15

Euro

1

Rs.85.29

 

 

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.