MIRA INFORM REPORT

 

 

Report Date :

31.01.2013

 

IDENTIFICATION DETAILS

 

Name :

PHUC NGUYEN TRAN COMPANY LIMITED

 

 

Registered Office :

31/10 Phan Huy Ich Str, Ward 15, Tan Binh District, Ho Chi Minh City

 

 

Country :

Vietnam

 

 

Date of Incorporation :

27.07.2012

 

 

Com. Reg. No.:

0311899407

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Wholesale of beverages

 

 

No. of Employees :

40

 

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

(31.03.2011)

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

 

SUBJECT IDENTIFICATION & LEGAL FORM

 

English Name

 

PHUC NGUYEN TRAN COMPANY LIMITED

Vietnamese Name

 

CONG TY TRACH NHIEM HUU HAN PHUC NGUYEN TRAN

Vietnamese  trade name

 

CONG TY TNHH PHUC NGUYEN TRAN

Type of Business

 

Limited liability company

Year Established

 

2012

Business Registration No.

 

0311899407

Date of Registration

 

27 Jul 2012

Place of Registration

 

Business Registration office of Planning and Investment Department of Ho Chi Minh City

Chartered capital

 

VND 2,000,000,000

Tax code

 

0311899407

Total Employees

 

40

Size

 

Small

 

Head Office

Address

 

31/10 Phan Huy Ich Str, Ward 15, Tan Binh District, Ho Chi Minh City, Vietnam

Telephone

 

(84-8) 3815 3382

Fax

 

(84-8) 3815 3383

Email

 

phucnguyentran.co@gmail.com

 

DIRECTORS

 

1. NAME

 

Ms. LY THI THUY TRINH

Position

 

Director

Date of Birth

 

05 May 1974

ID Number/Passport

 

024813106

ID Issue Date

 

11 Oct 2007

ID Issue Place

 

Police Station Of Ho Chi Minh City

Resident

 

37/2E Nguyen Van Luong Str, Ward 6, Go Vap District, Ho Chi Minh City, Vietnam

Nationality

 

Vietnamese

 

2. NAME

 

Ms. MAI THI HOANG LY

Position

 

Sales Admin

Current resident

 

 Ho Chi Minh City, Vietnam

Nationality

 

Vietnamese

 

 

BUSINESS NATURE AND ACTIVITIES

 

The subject registers operating in following activities:

-          Wholesale of beverages

-          Wholesale of food

-          Beverage serving activities

-          Retail sale of food in specialized stores

-          Retail sale of food stuff in specialized stores

-          Retail sale of beverages in specialized stores

-          Packaging activities

-          Wholesale of tobacco products

 

 

IMPORT & EXPORT ACTIVITIES

 

IMPORT:

·         Types of products

 

Candy

·         Market

 

India, Thailand

 

EXPORT:

Note: Currently, the subject does not export

 

BANKERS

 

SAIGON THUONG TIN COMMERCIAL JOINT STOCK BANK

Address

 

No. 266-268 Nam Ky Khoi Nghia Street, Ward 8, District 3, Ho Chi Minh City, Vietnam

Telephone

 

(84-8) 3932 0420, 3932 0643

Fax

 

(84-8) 3932 2488, 3932 0424

 

 

SHAREHOLDERS
 

1. NAME

 

Mr. TRAN VAN TAI

ID Number/Passport

 

022809578

Resident

 

109-111 Can Giuoc Str, Ward 12, District 8, Ho Chi Minh City, Vietnam

Nationality

 

Vietnamese

Value of shares

 

VND 600,000,000

Percentage

 

30%

 

2. NAME

 

Ms. LY THI THUY TRINH

Position

 

Director

Date of Birth

 

05 May 1974

ID Number/Passport

 

024813106

Issued on

 

11 Oct 2007

Issued Place

 

Police Station Of Ho Chi Minh City

Resident

 

37/2E Nguyen Van Luong Str, Ward 6, Go Vap District, Ho Chi Minh City, Vietnam

Nationality

 

Vietnamese

Value of shares

 

VND 1,400,000,000

Percentage

 

70%

 

 

FINANCIAL DATA

N/A

 

PAYMENT HISTORY & PERFORMANCE EXPERIENCES

 

 

 

Trade Morality

 

Normal

 

Liquidity

 

N/A

 

Payment status

 

N/A

 

Financial Situation

 

Average 

 

Development trend

 

N/A

 

Litigation data

 

No Record

 

Bankruptcy

 

No Record

 

Payment Methods

 

Cash or through the bank

 

Sale Methods

 

Wholesaler

 

 

 

INTERPRETATION ON THE SCORES

 

The subject has just been established officially since 27 Jul 2012 which has a chartered capital of VND2 billion.

Head office is located at 31/10 Phan Huy Ich Str, Ward 15, Tan Binh District, Ho Chi Minh City, Vietnam. In this time, subject specializes in trading candy which is imported from Thailand (soft line) and India to wholesale through its agents throughout the country.

The subject has just operated for a short time; however, its manager has operated in this field for a long time. Its director had worked as deputy director of BAO NGAN FOOD COMPANY LIMITED (BAO NGAN FOOD COMPANY LIMITED specializes in trading food (beef, meat, chicken...). The subject has a workforce of 40 employees.

Its premises and facilities are normal. Industry position is small. In this time, the subject is busy because of preparation for its business in Lunar new year. This is time when candy, cookies, biscuits, food and consumer goods are consumed so strong in Vietnam.

In general, the subject is a new company; its operation is not stable in this time. It is expected that the company would develop. It can meet small financial transactions.

 

 

------------ APPENDIX ----------

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.53.57

UK Pound

1

Rs.84.37

Euro

1

Rs.72.23

 

 

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%)

 

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.