|
Report Date : |
08.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
MIEN TRUNG MINERAL JOINT STOCK COMPANY |
|
|
|
|
Registered Office : |
Floor 3 - Housing MTJ - No. 104 Hai Thuong Lan Ong Str., Vinh City,
Nghe An Province |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
20.04.2011 |
|
|
|
|
Com. Reg. No.: |
2900832928 |
|
|
|
|
Legal Form : |
Joint stock company |
|
|
|
|
Line of Business : |
The subject specializes in processing Calcium carbonate (CaCO3) powder
from raw materials limestone. |
|
|
|
|
No. of Employees : |
150 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 in the last 30 years has had to recover from the ravages of war, the loss of financial support from the old Soviet Bloc, and the rigidities of a centrally-planned economy. While Vietnam's economy remains dominated by state-owned enterprises, which still produce about 40% of GDP, Vietnamese authorities have reaffirmed their commitment to economic liberalization and international integration. They have moved to implement the structural reforms needed to modernize the economy and to produce more competitive export-driven industries. Vietnam joined the World Trade Organization in January 2007 following more than a decade-long negotiation process. Vietnam became an official negotiating partner in the developing Trans-Pacific Partnership trade agreement in 2010. Agriculture's share of economic output has continued to shrink from about 25% in 2000 to about 22% in 2011, while industry's share increased from 36% to 40% in the same period. Deep 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 has hurt Vietnam's export-oriented economy, with GDP in 2009-11 growing less than the 7% per annum average achieved during the last decade. In 2011, exports increased by more than 33%, year-on-year, and the trade deficit, while reduced from 2010, remained high, prompting the government to maintain administrative trade measures to limit the trade deficit. Vietnam's managed currency, the dong, continues to face downward pressure due to a persistent trade imbalance. Since 2008, the government devalued it in excess of 20% through a series of small devaluations. Foreign donors pledged nearly $8 billion in new development assistance for 2011. However, the government's strong growth-oriented economic policies have caused it to struggle to control one of the region's highest inflation rates, which reached as high as 23% in August 2011 and averaged 18% for the year. In February 2011, Vietnam shifted its focus away from economic growth to stabilizing its economy and tightened fiscal and monetary policies. In early 2012 Vietnam unveiled a broad "three pillar" economic reform program, proposing the restructuring of public investment, state-owned enterprises and the banking sector. Vietnam's economy continues to face challenges from low foreign exchange reserves, an undercapitalized banking sector, and high borrowing costs. The near-bankruptcy and subsequent default of the state-owned-enterprise Vinashin, a leading shipbuilder, led to a ratings downgrade of Vietnam's sovereign debt, exacerbating Vietnam's borrowing difficulties.
|
Source : CIA |
|
English Name |
|
MIEN TRUNG MINERAL JOINT STOCK COMPANY |
|
Vietnamese Name |
|
CONG TY CO PHAN KHOANG SAN MIEN TRUNG |
|
Trade name |
|
MIEN TRUNG MINERAL JOINT STOCK COMPANY |
|
Short name |
|
MTM |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
2007 |
|
Business Registration No. |
|
2900832928 |
|
Date of Registration |
|
20 Apr 2011 |
|
Place of Registration |
|
Planning and Investment Department of Vinh City |
|
Chartered capital |
|
VND 30,000,000,000 |
|
Status |
|
Unlisted |
|
Tax code |
|
2900832928 |
|
Total Employees |
|
150 |
|
Size |
|
Medium |
|
Head Office |
||
|
Address |
|
Floor 3 - Housing MTJ - No. 104 Hai Thuong Lan Ong Str., Vinh City,
Nghe An Province, Vietnam |
|
Telephone |
|
(84-38) 3522 868 |
|
Fax |
|
(84-38) 3521 868 |
|
Email |
|
sales@mtm.com.vn |
|
Website |
|
|
|
|
||
|
Factory Address |
||
|
Address |
|
Nam Cam Industrial Park , Nghi Loc District, Nghe An Province, Vietnam
|
|
Telephone |
|
(84-650) 3716 585 |
|
Fax |
|
(84-650) 3716 190 |
|
Email |
|
haitrieumtm@gmail.com / hagiang@gmail.com |
|
|
||
|
Branch in Binh
Duong |
||
|
Address |
|
E5/25 Binh Thuan 2 Hamlet Thuan Giao commune, Thuan An town, Thuan An
Town, Binh Duong Province, Vietnam |
|
Business code |
|
2900832928-001 |
|
Telephone |
|
(84-38) 3791868 |
|
Fax |
|
(84-38) 3791552 |
|
1. PARENT COMPANY - CONG TY CO PHAN TU VAN VA XAY DUNG CONG TRINH MIEN
TRUNG |
||
|
Business Registration |
|
3000376350 |
|
Tax code |
|
3000376350 |
|
Address |
|
No. 133 Nguyen Du Str., Ha Tinh City, Ha Tinh Province, Vietnam |
|
Tel |
|
(84-39) 3855 651 |
|
|
||
|
1. NAME |
|
Mr. TRUONG HAN |
|
Position |
|
Legal Director |
|
Date of Birth |
|
27 May 1955 |
|
ID Number/Passport |
|
022738293 |
|
ID Issue Date |
|
24 Nov 1989 |
|
ID Issue Place |
|
Ho Chi Minh City Police Station |
|
Resident |
|
No 1/4 Phu Tho Hoa Hamlet Ward 10, Tan Binh
District, Ho Chi Minh City, Vietnam |
|
Current resident |
|
No 1/4 Phu Tho Hoa Hamlet Ward 10, Binh Tan District, Ho Chi Minh
City, Vietnam |
|
Nationality |
|
Vietnamese |
The subject specializes in processing Calcium carbonate (CaCO3) powder
from raw materials limestone.
|
IMPORT: |
||
|
Types of products |
|
Machines, equipments |
|
Market |
|
Germany |
|
|
||
|
EXPORT: |
||
|
Types of products |
|
Calcium carbonate (CaCO3) powder |
|
Market |
|
India, Bangladesh, Korea, Japan... |
|
Ratio |
|
100% |
|
Mode of payment |
|
TT/ LC |
|
1. JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM VINH
BRANCH |
||
|
Address |
|
No.21 Quang Trung, Vinh City, Nghe An Province, Vietnam |
|
Telephone |
|
(84-38) 3842033 |
|
Fax |
|
(84-38) 3842192 |
|
1. NAME |
|
CONG TY CO PHAN TU VAN VA XAY DUNG CONG TRINH MIEN TRUNG |
|
Business Registration |
|
3000376350 |
|
Tax code |
|
3000376350 |
|
Address |
|
No. 133 Nguyen Du Str., Ha Tinh City, Ha Tinh Province, Vietnam |
|
Tel |
|
(84-39) 855 651 |
|
Number of shares |
|
2,185,272 |
|
Value of shares |
|
VND 21,852,720,000 |
|
Percentage |
|
72.84% |
|
|
||
|
2. NAME |
|
PETROVIETNAM FINANCE JOINT STOCK CORPORATION |
|
Business Registration |
|
0103023045 |
|
Date of Registration |
|
17 Mar 2008 |
|
Place of Registration |
|
Planning and Investment Department of Ha Noi City |
|
Registered Capital |
|
VND 5,000,000,000,000 |
|
Tax code |
|
0101057919 |
|
Address |
|
No. 22 Ngo Quyen Str, Trang Tien ward, Hoan Kiem District, Ha Noi
City, Vietnam |
|
Tel |
|
(84-4) 3942 6800 |
|
Fax |
|
(84-4) 3942 6796/97 |
|
Email |
|
pvfc@pvfc.com.vn |
|
Website |
|
www.pvfc.com.vn |
|
Note: Share has been transferred |
||
|
|
||
|
3. NAME |
|
Mr. DOAN VAN TE |
|
ID Number/Passport |
|
031327514 |
|
Resident |
|
No. 2 Tran Hung Dao Str., Hong Bang District, Hai Phong City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Note: Share has been transferred |
||
|
BALANCE SHEET |
|||
|
Unit: One VND |
|||
|
Balance sheet
date |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
Number of weeks |
52 |
52 |
52 |
|
ASSETS |
|||
|
A – CURRENT ASSETS |
17,107,000,000 |
13,121,000,000 |
3,846,500,000 |
|
I. Cash and cash equivalents |
245,000,000 |
881,000,000 |
211,000,000 |
|
1. Cash |
245,000,000 |
881,000,000 |
211,000,000 |
|
2. Cash equivalents |
0 |
0 |
0 |
|
II. Short-term investments |
0 |
0 |
0 |
|
1. Short-term investments |
0 |
0 |
0 |
|
2. Provisions for devaluation of short-term investments |
0 |
0 |
0 |
|
III. Accounts receivable |
10,377,000,000 |
8,466,000,000 |
1,269,500,000 |
|
1. Receivable from customers |
10,178,000,000 |
8,432,000,000 |
94,500,000 |
|
2. Prepayments to suppliers |
0 |
10,000,000 |
1,175,000,000 |
|
3. Inter-company receivable |
0 |
0 |
0 |
|
4. Receivable according to the progress of construction |
0 |
0 |
0 |
|
5. Other receivable |
199,000,000 |
24,000,000 |
0 |
|
6. Provisions for bad debts |
0 |
0 |
0 |
|
IV. Inventories |
5,919,000,000 |
3,519,000,000 |
2,154,000,000 |
|
1. Inventories |
5,919,000,000 |
3,519,000,000 |
2,154,000,000 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
0 |
|
V. Other Current Assets |
566,000,000 |
255,000,000 |
212,000,000 |
|
1. Short-term prepaid expenses |
5,000,000 |
0 |
0 |
|
2. VAT to be deducted |
164,000,000 |
63,000,000 |
212,000,000 |
|
3. Taxes and other accounts receivable from the State |
0 |
0 |
0 |
|
4. Other current assets |
397,000,000 |
192,000,000 |
0 |
|
B. LONG-TERM ASSETS |
73,395,000,000 |
78,828,000,000 |
69,695,500,000 |
|
I. Long term accounts receivable |
9,000,000 |
9,000,000 |
0 |
|
1. Long term account receivable from customers |
0 |
0 |
0 |
|
2. Working capital in affiliates |
0 |
0 |
0 |
|
3. Long-term inter-company receivable |
0 |
0 |
0 |
|
4. Other long-term receivable |
9,000,000 |
9,000,000 |
0 |
|
5. Provisions for bad debts from customers |
0 |
0 |
0 |
|
II. Fixed assets |
72,556,000,000 |
77,477,000,000 |
69,695,500,000 |
|
1. Tangible assets |
72,479,000,000 |
77,454,000,000 |
884,000,000 |
|
- Historical costs |
80,481,000,000 |
80,454,000,000 |
1,172,000,000 |
|
- Accumulated depreciation |
-8,002,000,000 |
-3,000,000,000 |
-288,000,000 |
|
2. Financial leasehold assets |
0 |
0 |
0 |
|
- Historical costs |
0 |
0 |
0 |
|
- Accumulated depreciation |
0 |
0 |
0 |
|
3. Intangible assets |
18,000,000 |
23,000,000 |
0 |
|
- Initial costs |
25,000,000 |
25,000,000 |
0 |
|
- Accumulated amortization |
-7,000,000 |
-2,000,000 |
0 |
|
4. Construction-in-progress |
59,000,000 |
0 |
68,811,500,000 |
|
III. Investment property |
0 |
0 |
0 |
|
Historical costs |
0 |
0 |
0 |
|
Accumulated depreciation |
0 |
0 |
0 |
|
IV. Long-term investments |
0 |
0 |
0 |
|
1. Investments in affiliates |
0 |
0 |
0 |
|
2. Investments in business concerns and joint ventures |
0 |
0 |
0 |
|
3. Other long-term investments |
0 |
0 |
0 |
|
4. Provisions for devaluation of long-term investments |
0 |
0 |
0 |
|
V. Other long-term assets |
830,000,000 |
1,342,000,000 |
0 |
|
1. Long-term prepaid expenses |
830,000,000 |
1,188,000,000 |
0 |
|
2. Deferred income tax assets |
0 |
0 |
0 |
|
3. Other long-term assets |
0 |
154,000,000 |
0 |
|
VI. Goodwill |
0 |
0 |
0 |
|
1. Goodwill |
0 |
0 |
0 |
|
TOTAL ASSETS |
90,502,000,000 |
91,949,000,000 |
73,542,000,000 |
|
|
|||
|
LIABILITIES |
|||
|
A- LIABILITIES |
73,370,000,000 |
68,700,000,000 |
53,821,000,000 |
|
I. Current liabilities |
24,448,000,000 |
15,948,000,000 |
11,113,000,000 |
|
1. Short-term debts and loans |
13,994,000,000 |
11,043,000,000 |
2,457,000,000 |
|
2. Payable to suppliers |
7,191,000,000 |
4,000,000,000 |
1,862,000,000 |
|
3. Advances from customers |
0 |
121,000,000 |
0 |
|
4. Taxes and other obligations to the State Budget |
0 |
200,000,000 |
0 |
|
5. Payable to employees |
438,000,000 |
303,000,000 |
167,000,000 |
|
6. Accrued expenses |
2,755,000,000 |
35,000,000 |
6,613,000,000 |
|
7. Inter-company payable |
0 |
0 |
0 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
0 |
|
9. Other payable |
70,000,000 |
246,000,000 |
14,000,000 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
0 |
|
11. Bonus and welfare funds |
0 |
0 |
0 |
|
II. Long-Term Liabilities |
48,922,000,000 |
52,752,000,000 |
42,708,000,000 |
|
1. Long-term accounts payable to suppliers |
0 |
0 |
0 |
|
2. Long-term inter-company payable |
0 |
0 |
0 |
|
3. Other long-term payable |
0 |
0 |
0 |
|
4. Long-term debts and loans |
48,922,000,000 |
52,752,000,000 |
42,708,000,000 |
|
5. Deferred income tax payable |
0 |
0 |
0 |
|
6. Provisions for unemployment allowances |
0 |
0 |
0 |
|
7. Provisions for long-term accounts payable |
0 |
0 |
0 |
|
8. Unearned Revenue |
0 |
0 |
0 |
|
9. Science and technology development fund |
0 |
0 |
0 |
|
B- OWNER’S EQUITY |
17,132,000,000 |
23,249,000,000 |
19,721,000,000 |
|
I. OWNER’S EQUITY |
17,132,000,000 |
23,249,000,000 |
19,721,000,000 |
|
1. Capital |
30,000,000,000 |
30,000,000,000 |
20,000,000,000 |
|
2. Share premiums |
0 |
0 |
0 |
|
3. Other sources of capital |
0 |
0 |
0 |
|
4. Treasury stocks |
0 |
0 |
0 |
|
5. Differences on asset revaluation |
0 |
0 |
0 |
|
6. Foreign exchange differences |
0 |
0 |
-279,000,000 |
|
7. Business promotion fund |
0 |
0 |
0 |
|
8. Financial reserved fund |
0 |
0 |
0 |
|
9. Other funds |
0 |
0 |
0 |
|
10. Retained earnings |
-12,868,000,000 |
-6,751,000,000 |
0 |
|
11. Construction investment fund |
0 |
0 |
0 |
|
12. Business arrangement supporting fund |
0 |
0 |
0 |
|
II. Other sources and funds |
0 |
0 |
0 |
|
1. Bonus and welfare funds (Elder form) |
0 |
0 |
0 |
|
2. Sources of expenditure |
0 |
0 |
0 |
|
3. Fund to form fixed assets |
0 |
0 |
0 |
|
MINORITY’S INTEREST |
0 |
0 |
|
|
TOTAL LIABILITIES AND OWNER’S EQUITY |
90,502,000,000 |
91,949,000,000 |
73,542,000,000 |
|
|
|||
|
PROFIT &
LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2011 |
FY2010 |
FY2009 |
|
1. Total Sales |
57,366,000,000 |
21,768,000,000 |
37,500,000,000 |
|
2. Deduction item |
0 |
0 |
0 |
|
3. Net revenue |
57,366,000,000 |
21,768,000,000 |
37,500,000,000 |
|
4. Costs of goods sold |
30,648,000,000 |
10,984,000,000 |
20,125,000,000 |
|
5. Gross profit |
26,718,000,000 |
10,784,000,000 |
17,375,000,000 |
|
6. Financial income |
191,000,000 |
1,000,000 |
-890,000,000 |
|
7. Financial expenses |
12,400,000,000 |
2,200,000,000 |
1,150,000,000 |
|
- In which: Loan interest expenses |
12,278,000,000 |
1,250,000,000 |
1,150,000,000 |
|
8. Selling expenses |
16,716,000,000 |
4,123,000,000 |
0 |
|
9. Administrative overheads |
1,745,000,000 |
1,124,000,000 |
0 |
|
10. Net operating profit |
-3,952,000,000 |
3,338,000,000 |
15,335,000,000 |
|
11. Other income |
0 |
174,000,000 |
0 |
|
12. Other expenses |
83,000,000 |
1,000,000 |
0 |
|
13. Other profit /(loss) |
-83,000,000 |
173,000,000 |
0 |
|
14. Total accounting profit before tax |
-4,035,000,000 |
3,511,000,000 |
15,335,000,000 |
|
15. Current corporate income tax |
0 |
0 |
0 |
|
16. Deferred corporate income tax |
0 |
0 |
0 |
|
17. Interest from subsidiaries/related companies |
0 |
0 |
0 |
|
18. Profit after tax |
-4,035,000,000 |
3,511,000,000 |
15,335,000,000 |
|
|
||||
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||||
|
|
||||
|
Description |
FY2011 |
FY2010 |
FY2009 |
Average Industry |
|
Current liquidity ratio |
0.70 |
0.82 |
0.35 |
1.72 |
|
Quick liquidity ratio |
0.46 |
0.60 |
0.15 |
1.06 |
|
Inventory circle |
5.18 |
3.12 |
9.34 |
13.62 |
|
Average receive period |
66.03 |
141.96 |
12.36 |
78.59 |
|
Utilizing asset performance |
0.63 |
0.24 |
0.51 |
1.55 |
|
Liability by total assets |
81.07 |
74.72 |
73.18 |
52.62 |
|
Liability by owner's equity |
428.26 |
295.50 |
272.91 |
163.63 |
|
Ebit / Total assets (ROA) |
9.11 |
5.18 |
22.42 |
13.16 |
|
Ebit / Owner's equity (ROE) |
48.11 |
20.48 |
83.59 |
29.85 |
|
Ebit / Total revenue (NPM) |
14.37 |
21.87 |
43.96 |
7.13 |
|
Gross profit / Total revenue (GPM) |
46.57 |
49.54 |
46.33 |
19.87 |
|
Note: The Average Industry was calculated by VietnamCredit based on
our own statistical data |
||||
|
|
||||
|
CASH FLOW
STATEMENT |
|
|
(Indirect
method) |
|
|
Items |
FY2011 |
|
I. Cash flows from operating activities |
|
|
1. Profit before tax |
-4,035,000,000 |
|
2. Adjustments |
|
|
- Depreciation and amortization |
5,007,000,000 |
|
- Provisions |
0 |
|
- Unrealized foreign exchange difference |
0 |
|
- Gain/loss from investing activities |
0 |
|
- Interest expense |
12,278,000,000 |
|
3. Operating profit before movements in working capital |
13,250,000,000 |
|
- (Increase)/Decrease in receivables |
-1,911,000,000 |
|
- (Increase)/Decrease in inventories |
-2,400,000,000 |
|
- Increase/(Decrease) in accounts payable |
5,749,000,000 |
|
- (Increase)/Decrease in prepaid expenses |
353,000,000 |
|
- Interest paid |
-12,278,000,000 |
|
- Corporate income tax paid |
-200,000,000 |
|
- Other cash inflows |
0 |
|
- Other cash outflows |
-2,234,000,000 |
|
Net cash from (used in) operating activities |
329,000,000 |
|
II. Cash flows from investing activities |
|
|
1. Acquisition of fixed assets and other long - term assets |
-86,000,000 |
|
2. Proceeds from fixed assets and long - term assets disposal |
0 |
|
3. Cash outflow for lending, buying debt instruments of other
companies |
0 |
|
4. Cash recovered from lending, selling debt instruments of other
companies |
0 |
|
5. Investment in other entities |
0 |
|
6. Cash recovered from investments in other entities |
0 |
|
7. Interest income, dividend and profit paid |
0 |
|
Net cash from (used in) investing activities |
-86,000,000 |
|
III. Cash flows from financing activities |
|
|
1. Proceeds from issuing stocks, receiving capital from owners |
0 |
|
2. Capital withdrawal, buying back issued stocks |
0 |
|
3. Proceeds from borrowings |
-879,000,000 |
|
4. Repayment of borrowings |
0 |
|
5. Repayment of obligations under finance leased |
0 |
|
6. Dividends paid |
0 |
|
Net cash from (used in) financing activities |
-879,000,000 |
|
Net increase/(decrease) in cash and cash equivalents |
-636,000,000 |
|
Cash and cash equivalents at beginning of year |
881,000,000 |
|
Effect from changing foreign exchange rate |
0 |
|
Cash and cash equivalents at end of year |
245,000,000 |
|
Trade Morality |
|
Fair |
|
Liquidity |
|
Low/ Medium |
|
Payment status |
|
Above Average |
|
Financial Situation |
|
Average |
|
Development trend |
|
Positive |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
TT/LC |
|
Sale Methods |
|
To contracts |
|
Public opinion |
|
Good |
The subject - MIEN TRUNG MINERAL JOINT STOCK COMPANY was established in
2007 under the original Business Registration Number 2703001637 after that, in
2011 it changed to the Number 2900832928 – same as the tax code. Currently the
subject has about 150 people and the chartered capital is VND 30,000,000,000,
which was mainly contributed by CONG TY CO PHAN TU VAN VA XAY DUNG CONG TRINH
MIEN TRUNG.
The head office of the subject is located at No. 104 Hai Thuong Lan Ong
Str., Vinh City, Nghe An Province, Vietnam. Its factory is in Nam Cam
Industrial Park, Nghi Loc District, Nghe An Province, Vietnam. Besides, it also
has the branch in Binh Duong Province. The subject specializes in processing
Calcium carbonate (CaCO3) powder from raw materials limestone. The subject gets
the raw limestone material from Nam Cam Mine. Its products (CaCO3 powder) are
all exported to overseas countries such as India, Bangladesh, Korea, Japan...
As the given financial data, the subject has the current assets and
Accounts receivable increasing every year. However, the long-term assets have
high depreciation rate. Its total assets in 2011 were lower than the previous
year, which was due to the worse trend of business result. Though the subject’s
Total revenue in 2011 is increased 2.6 times in comparison with that of 2010,
Its expenses such as Financial expenses, Selling expenses are too high, which
made a loss to the subject in this year. Financial liquidity ratios are almost
lower than those of average industry, thus the subject is considered risky to
creditors and investors. The subject is expected to gain better profit in 2013
when it has better expense management. Currently caution is needed for medium
and large transactions.
|
INDUSTRY DATA |
||||||
|
|
||||||
|
Industry code |
Growth speed by price compared with 1994 (%) |
Total enterprises 2010 |
Total employees 2011 (Thous.pers.) |
Annual average capital of enterprises 2010 (billion dongs) |
||
|
2011 |
2010 |
|||||
|
Agriculture, Forestry and Fishing |
4.00 |
2.78 |
8,887 |
24,362.9 |
95,227 |
|
|
Industry and Construction |
5.53 |
7.70 |
95,217 |
10,718.9 |
3,641,376 |
|
|
Trade and Services |
6.69 |
7.52 |
187,195 |
15,270.2 |
6,957,082 |
|
|
|
||||||
|
ECONOMIC
INDICATORS |
||||||
|
|
||||||
|
|
2011 |
2010 |
2009 |
|||
|
Population (Million
person) |
87.84 |
86.93 |
86.02 |
|||
|
Gross Domestic Products
(USD billion) |
119 |
102.2 |
91 |
|||
|
GDP Growth (%) |
5.89 |
6.78 |
5.32 |
|||
|
GDP Per Capita
(USD/person/year) |
1,300 |
1,160 |
1,080 |
|||
|
Inflation (% Change in Composite
CPI) |
18.58 |
11.75 |
6.88 |
|||
|
State Budget Deficit
compared with GDP (%) |
4.9 |
5.8 |
6.9 |
|||
|
|
||||||
|
SERVICE TRADE
PERFORMANCE |
||||||
|
|
||||||
|
Billion USD |
2011 |
2010 |
2009 |
|||
|
Exports |
96.3 |
72.2 |
57.1 |
|||
|
Imports |
105.8 |
84.8 |
69.9 |
|||
|
Trade Balance |
-9.5 |
-12.6 |
-12.8 |
|||
Source: General
Statistics Office
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.14 |
|
|
1 |
Rs.83.26 |
|
Euro |
1 |
Rs.71.93 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.