|
Report Date : |
26.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
DE HEUS LLC |
|
|
|
|
Registered Office : |
Lot G - 2 - CN, My Phuoc Industrial Zone, My Phuoc Townlet, Ben Cat District, Binh Duong Province |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Year of Incorporation : |
2008 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturing and trading in animal and fish feed |
|
|
|
|
No. of Employees : |
200 |
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
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%.
Source
: CIA
SUBJECT IDENTIFICATION &
LEGAL FORM
|
||
|
|
||
Current legal status
|
||
|
English Name |
|
DE HEUS LLC |
|
Vietnamese Name |
|
CONG TY TNHH DE HEUS |
|
Trade name |
|
DE HEUS LLC |
|
Short name |
|
DE HEUS |
|
Type of Business |
|
Limited liability company |
|
Year Established |
|
2008 |
|
Investment Certificate No |
|
462045000603 |
|
Date Of Issuance |
|
21 Oct 2008 |
|
Place of Issuance |
|
Binh Duong Industrial Zones Authority |
|
Registered Investment Capital |
|
USD 15,000,000 |
|
Chartered capital |
|
USD 13,000,000 |
|
Investment Duration |
|
44 years |
|
Tax code |
|
3701091716 |
|
Total Employees |
|
200 |
|
Size |
|
Medium |
Historical Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Registered
Investment Capital: USD 3,850,000 Changed to USD 6,800,000 on Mar 3rd 2010 Changed to: USD 15,000,000 |
11
Oct 2010 |
|
2 |
Subject has got former Chartered capital:
USD 3,000,000 Changed to: USD 13,000,000 |
11
Oct 2010 |
|
|
||
ADDRESSES
|
||
|
|
||
|
Head Office |
||
|
Address |
|
Lot G - 2 - CN, My Phuoc Industrial Zone,
My Phuoc Townlet, Ben Cat District, Binh Duong Province, Vietnam |
|
Telephone |
|
(84-650) 3558 380 |
|
Fax |
|
(84-650) 3558 382 |
|
Website |
|
|
|
Occupied Area |
|
22,689.5 m2 |
|
|
||
|
Branch in Long
An |
||
|
Address |
|
489 Thu Tuu 2 Quarter, Tan Khanh Ward, Tan
An City, Long An Province, Vietnam |
|
Telephone |
|
(84-72) 3513 555 |
|
Fax |
|
(84-72) 3511 000 |
|
|
||
|
Branch in Binh
Dinh |
||
|
Address |
|
85 Hoang Van Thu Street , Qui Nhon City,
Binh Dinh Province, Vietnam |
|
Telephone |
|
(84-563) 3646 757 |
|
Fax |
|
(84-563) 3646 727 |
|
|
||
|
Branch in Vinh
Long |
||
|
Address |
|
Lot A4, Hoa Phu IP, Phuoc Hoa Hamlet, Hoa
Phu Commune , Long Ho District, Vinh Long Province, Vietnam |
|
Telephone |
|
(84-70) 3962 736 |
|
Fax |
|
(84-70) 3962 735 |
|
|
||
|
Branch in Dong
Nai |
||
|
Address |
|
Dau Giay Industrial Zone, Bau Ham Hamlet ,
Thong Nhat District, Dong Nai Province, Vietnam |
|
Telephone |
|
(84-61) 3772 159 |
|
Fax |
|
(84-61) 3772 158 |
|
|
||
|
Branch in Dak
Lak |
||
|
Address |
|
Km 13 Highway 14, Ea Tu Commune , Buon Ma
Thuot City, Dak Lak Province, Vietnam |
|
Telephone |
|
(84-500) 3873 367 |
|
Fax |
|
(84-500) 3873 368 |
|
|
||
SUBSIDIARIES AND RELATED
COMPANIES
|
||
|
|
||
|
1. DE HEUS HAI
PHONG LLC |
||
|
Chartered capital |
|
USD 3,100,000 |
|
Tax code |
|
0200845318 |
|
Address |
|
An Trang Industrial Zone, Truong Son Commune, An Lao District, Hai
Phong City, Vietnam |
|
Tel |
|
(84-31) 3679 888 |
|
Fax |
|
(84-31) 3679 898 |
|
Website |
|
|
|
|
||
DIRECTORS
|
||
|
|
||
|
1.
NAME |
|
Mr.
GABOR FLUIT |
|
Position |
|
General Director |
|
Education |
|
• Erasmus Universiteit Rotterdam MSc. ,
Bestuurskunde (Public Administration) , 1998 — 2004 • Het Streek VWO , 1992 —
1998 |
|
Date of Birth |
|
11 Nov 1979 |
|
ID Number/Passport |
|
NL1143832 |
|
ID Issue Date |
|
09 Jun 2006 |
|
ID Issue Place |
|
Dutch Ministry of
Foreign affairs |
|
Resident |
|
Moreelsestraat 13
6717 TN EDE, Breda, Netherlands |
|
Current resident |
|
Hamlet 3, Thoi Hoa Commune, Ben Cat
District, Binh Duong Province, Vietnam |
|
Nationality |
|
Dutch |
|
Years of experience |
|
ABN AMRO-Business Line Manager |
|
|
||
|
2.
NAME |
|
Ms.
TRAN NGOC THUY |
|
Position |
|
Purchasing Manager |
|
Nationality |
|
Vietnamese |
|
|
||
|
3.
NAME |
|
Mr.
NGUYEN CONG CHUONG |
|
Position |
|
Technical Manager |
|
Nationality |
|
Vietnamese |
|
|
||
|
4.
NAME |
|
Mr.
VO THANH PHUONG |
|
Position |
|
Production Manager |
|
Nationality |
|
Vietnamese |
|
|
||
|
5.
NAME |
|
Ms.
NGUYEN THI THANH TUYEN |
|
Position |
|
Chief Accountant |
|
Nationality |
|
Vietnamese |
|
|
||
BUSINESS NATURE AND ACTIVITIES
|
|
|
|
-
Manufacturing and trading in animal and fish feed |
|
|
|
IMPORT & EXPORT ACTIVITIES |
||
|
|
||
|
IMPORT: |
||
|
·
Types of products |
|
Materials, equipments |
|
·
Market |
|
China, India, Netherlands, Japan, America... |
|
·
Mode of payment |
|
T/T, L/C |
|
|
||
|
EXPORT: |
||
|
·
Market |
|
Cambodia |
|
·
Mode of payment |
|
TT, LC |
|
|
||
BANKERS
|
||
|
|
||
|
1.
JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM BINH DUONG BRANCH |
||
|
Address |
|
No 72 Phu Hoa ward, Thu Dau Mot City, Binh Duong Province, Vietnam |
|
Telephone |
|
(84-650) 3898 989 |
|
Fax |
|
(84-650) 3831 220 |
|
|
||
|
2.
BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM BINH DUONG BRANCH |
||
|
Address |
|
No. 37 Yersin , Thu Dau Mot City, Binh Duong Province, Vietnam |
|
Telephone |
|
(84-650) 3822 423 |
|
|
||
|
3.
DEUTSCHE BANK AG, HO CHI MINH CITY BRANCH |
||
|
Address |
|
13th&14th Floor - Saigon Center Building- No. 65 Le Loi Street,
Ben Nghe Ward, District 1, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 3822 2667 |
|
Fax |
|
(84-8) 3822 2760 |
|
|
||
SHAREHOLDERS
|
||
|
|
||
|
NAME |
|
DE
HEUS ANIMAL NUTRITION B.V (Former name DE HEUS INTERNATIONAL B.V) |
|
Address |
|
Rubensstraat 175 6717 VE Ede Gld,
Netherlands |
|
Tel |
|
+31 31867 55 00 /+31 31867 55 55 |
|
Fax |
|
+31 31867 54 99 |
|
Website |
|
|
|
Percentage |
|
100% |
|
Legal Representative person |
|
Mr. KOENRAAD
JACOB DE HEUS |
|
Date of Birth |
|
15 Feb 1972 |
|
ID
Number/Passport |
|
BG4J2CDL4 |
|
Issued on |
|
20 Jul 2007 |
|
Issued Place |
|
Brabant- Netherlands |
|
Resident |
|
Eemnesserweg 98, 3741 GC Braarn, Breda, Netherlands |
|
Nationality |
|
Dutch |
|
|
||
FINANCIAL DATA
|
|||
|
|
|||
|
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 |
421,955,000,000 |
266,968,663,201 |
86,458,112,063 |
|
I. Cash and cash
equivalents |
138,436,000,000 |
76,572,972,051 |
25,733,619,792 |
|
1. Cash |
59,436,000,000 |
76,572,972,051 |
25,733,619,792 |
|
2. Cash equivalents |
79,000,000,000 |
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 |
66,037,000,000 |
106,794,842,708 |
21,756,998,752 |
|
1. Receivable from customers |
28,089,000,000 |
8,279,700,621 |
1,878,315,357 |
|
2. Prepayments to suppliers |
37,589,000,000 |
16,299,937,118 |
8,868,600,622 |
|
3. Inter-company receivable |
0 |
0 |
10,861,204,886 |
|
4. Receivable according to the progress of construction |
0 |
0 |
0 |
|
5. Other receivable |
359,000,000 |
82,215,204,969 |
148,877,887 |
|
6. Provisions for bad debts |
0 |
0 |
0 |
|
IV. Inventories |
193,007,000,000 |
75,351,068,275 |
36,253,004,305 |
|
1. Inventories |
193,007,000,000 |
75,351,068,275 |
36,358,540,123 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
-105,535,818 |
|
V. Other Current
Assets |
24,475,000,000 |
8,249,780,167 |
2,714,489,214 |
|
1. Short-term prepaid expenses |
399,000,000 |
697,664,189 |
643,556,560 |
|
2. VAT to be deducted |
19,936,000,000 |
6,830,497,145 |
1,249,000,291 |
|
3. Taxes and other accounts receivable from the State |
2,797,000,000 |
0 |
141,172,975 |
|
4. Other current assets |
1,343,000,000 |
721,618,833 |
680,759,388 |
|
B. LONG-TERM
ASSETS |
345,862,000,000 |
96,500,294,046 |
58,885,642,048 |
|
I. Long term
accounts receivable |
0 |
0 |
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 |
0 |
0 |
0 |
|
5. Provisions for bad debts from customers |
0 |
0 |
0 |
|
II. Fixed assets
|
313,630,000,000 |
95,715,831,282 |
58,179,298,721 |
|
1. Tangible assets |
177,158,000,000 |
58,177,064,806 |
51,586,840,487 |
|
- Historical costs |
193,295,000,000 |
65,671,107,689 |
54,509,915,689 |
|
- Accumulated depreciation |
-16,137,000,000 |
-7,494,042,883 |
-2,923,075,202 |
|
2. Financial leasehold assets |
0 |
0 |
0 |
|
- Historical costs |
0 |
0 |
0 |
|
- Accumulated depreciation |
0 |
0 |
0 |
|
3. Intangible assets |
12,522,000,000 |
6,473,312,329 |
6,569,517,234 |
|
- Initial costs |
13,289,000,000 |
6,791,034,674 |
6,718,645,675 |
|
- Accumulated amortization |
-767,000,000 |
-317,722,345 |
-149,128,441 |
|
4. Construction-in-progress |
123,950,000,000 |
31,065,454,147 |
22,941,000 |
|
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 |
32,232,000,000 |
784,462,764 |
706,343,327 |
|
1. Long-term prepaid expenses |
31,006,000,000 |
784,462,764 |
706,343,327 |
|
2. Deferred income tax assets |
1,226,000,000 |
0 |
0 |
|
3. Other long-term assets |
0 |
0 |
0 |
|
VI. Goodwill |
0 |
0 |
0 |
|
1. Goodwill |
0 |
0 |
0 |
|
TOTAL ASSETS |
767,817,000,000 |
363,468,957,247 |
145,343,754,111 |
|
|
|||
LIABILITIES
|
|||
|
A- LIABILITIES |
436,361,000,000 |
94,990,583,498 |
97,466,538,668 |
|
I. Current
liabilities |
436,361,000,000 |
94,990,583,498 |
97,234,738,668 |
|
1. Short-term debts and loans |
271,891,000,000 |
24,669,398,071 |
66,235,136,377 |
|
2. Payable to suppliers |
132,250,000,000 |
50,769,220,154 |
23,143,875,121 |
|
3. Advances from customers |
7,592,000,000 |
2,014,061,677 |
1,733,053,167 |
|
4. Taxes and other obligations to the State Budget |
3,370,000,000 |
4,514,428,805 |
102,659,307 |
|
5. Payable to employees |
1,263,000,000 |
683,458,529 |
0 |
|
6. Accrued expenses |
19,897,000,000 |
12,225,463,478 |
5,937,876,448 |
|
7. Inter-company payable |
0 |
0 |
0 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
0 |
|
9. Other payable |
98,000,000 |
114,552,784 |
82,138,248 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
0 |
|
11. Bonus and welfare funds |
0 |
|
0 |
|
II. Long-Term
Liabilities |
0 |
0 |
231,800,000 |
|
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 |
0 |
0 |
231,800,000 |
|
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 |
|
9. Science and technology development fund |
0 |
|
0 |
|
B- OWNER’S
EQUITY |
331,456,000,000 |
268,478,373,749 |
47,877,215,443 |
|
I. OWNER’S
EQUITY |
331,456,000,000 |
268,478,373,749 |
47,877,215,443 |
|
1. Capital |
246,060,000,000 |
246,059,650,828 |
51,059,650,828 |
|
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 |
0 |
|
7. Business promotion fund |
0 |
0 |
0 |
|
8. Financial reserved fund |
0 |
0 |
0 |
|
9. Other funds |
0 |
0 |
0 |
|
10. Retained earnings |
85,396,000,000 |
22,418,722,921 |
0 |
|
11. Construction investment fund |
0 |
0 |
-3,182,435,385 |
|
12. Business arrangement supporting fund |
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 |
0 |
|
TOTAL
LIABILITIES AND OWNER’S EQUITY |
767,817,000,000 |
363,468,957,247 |
145,343,754,111 |
|
|
|||
|
PROFIT
& LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2011 |
FY2010 |
FY2009 |
|
1. Total Sales |
1,093,779,000,000
|
561,668,470,330 |
216,851,098,828 |
|
2. Deduction item |
62,880,000,000 |
39,662,870,797 |
18,229,857,752 |
|
3. Net revenue |
1,030,899,000,000
|
522,005,599,533 |
198,621,241,076 |
|
4. Costs of goods sold |
906,368,000,000 |
461,899,283,281 |
184,483,882,926 |
|
5. Gross profit |
124,531,000,000 |
60,106,316,252 |
14,137,358,150 |
|
6. Financial income |
7,381,000,000 |
6,333,789,094 |
499,046,634 |
|
7. Financial expenses |
11,261,000,000 |
15,560,310,704 |
5,738,600,804 |
|
- In which: Loan interest expenses |
|
|
|
|
8. Selling expenses |
33,728,000,000 |
16,563,360,231 |
6,582,209,963 |
|
9. Administrative overheads |
24,886,000,000 |
10,115,759,467 |
5,951,128,188 |
|
10. Net operating profit |
62,037,000,000 |
24,200,674,944 |
-3,635,534,171 |
|
11. Other income |
881,000,000 |
3,165,368,434 |
0 |
|
12. Other expenses |
0 |
1,764,885,071 |
0 |
|
13. Other profit /(loss) |
881,000,000 |
1,400,483,363 |
453,098,786 |
|
14. Total accounting profit before tax |
62,918,000,000 |
25,601,158,307 |
-3,182,435,385 |
|
15. Current corporate income tax |
717,000,000 |
0 |
0 |
|
16. Deferred corporate income tax |
-1,226,000,000 |
0 |
0 |
|
17. Interest from subsidiaries/related companies |
0 |
0 |
0 |
|
18. Profit after tax |
60,975,000,000 |
25,601,158,307 |
-3,182,435,385 |
|
|
||||
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||||
|
|
||||
|
Description |
FY2011 |
FY2010 |
FY2009 |
Average Industry |
|
Current liquidity ratio |
0.97 |
2.81 |
0.89 |
1.43 |
|
Quick liquidity ratio |
0.52 |
2.02 |
0.52 |
0.56 |
|
Inventory circle |
4.70 |
8.28 |
5.09 |
5.64 |
|
Average receive period |
23.38 |
74.67 |
39.98 |
27.24 |
|
Utilizing asset performance |
1.34 |
1.44 |
1.37 |
2.27 |
|
Liability by total assets |
56.83 |
26.13 |
67.06 |
58.03 |
|
Liability by owner's equity |
131.65 |
35.38 |
203.58 |
169.12 |
|
Ebit / Total assets (ROA) |
8.19 |
7.04 |
-2.19 |
16.77 |
|
Ebit / Owner's equity (ROE) |
18.98 |
9.54 |
-6.65 |
41.49 |
|
Ebit / Total revenue (NPM) |
5.75 |
4.56 |
-1.47 |
7.21 |
|
Gross profit / Total revenue (GPM) |
11.39 |
10.70 |
6.52 |
12.54 |
|
Note: The Average Industry was calculated by VietnamCredit based on our own
statistical data |
||||
|
|
||||
PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
||
|
|
||
|
Trade Morality |
|
Fair |
|
Liquidity |
|
Low/Medium |
|
Payment status |
|
Above Average |
|
Financial Situation |
|
Above Average |
|
Development trend |
|
Developing |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
Direct payment or through its corresponding bank. (L/C) or (T/T) |
|
Sale Methods |
|
Wholesaler |
|
Public opinion |
|
Good |
|
|
INTERPRETATION ON THE SCORES
|
|
|
|
The subject - DE HEUS LLC - was established
in the end of year 2008. It is operating under Business Registration No.
462045000603 and investment capital USD 15,000,000. Its investment duration
is 44 years. Premises and facilities of the subject are
relative. The subject’s head office located at Lot G _ 2 _ CN, My Phuoc Industrial Park, My Phuoc
Townlet, Ben Cat District, Binh Duong Province, Vietnam. Besides, it has
factories and warehouses in Dong Nai, Vinh Long, Binh Dinh and Long An
province. Head office of the subject has about 200 employees. The subject specializes in manufacturing and
trading in compound feed and premixes for pigs, broilers and ducks. For its
production, the subject imports materials and equipments from China, India,
Brazil, and Argentina… Most of products of the subject are consumed in
domestic market, especially in Mekong River Delta and the Southern area of
Vietnam. The rest of it are exported to Cambodia. In the northern area, the
subject’s investor established another company named De Heus Hai Phong LLC in
An Lao District- Hai Phong City. That company also trades in animal feed,
mainly supplies for the Northern area. In 2011, revenue and profit of subject were
sharply increased compared with 2010. Liquidity ratios were accepted. The
subject has future prospect of development. No caution needed with normal
transaction with subject. |
|
|
------------ APPENDIX ----------
INDUSTRY DATA
|
||||||
|
|
||||||
|
Industry code |
GDP growth speed
by price compared with 1994 (%) |
Total
enterprises 2010 |
Total employees
2011 (Thous.pers.) |
Annual average
capital of enterprises 2010 (billion dongs) |
||
|
2012 |
2011 |
|||||
|
Agriculture,
Forestry and Fishing |
2.72 |
4.00 |
8,887 |
24,362.9 |
95,227 |
|
|
Industry and
Construction |
4.52 |
5.53 |
95,217 |
10,718.9 |
3,641,376 |
|
|
Trade and
Services |
6.42 |
6.69 |
187,195 |
15,270.2 |
6,957,082 |
|
|
|
||||||
ECONOMIC INDICATORS
|
||||||
|
|
||||||
|
|
2012 |
2011 |
2010 |
|||
|
Population (Million person) |
88.78 |
87.84 |
86.93 |
|||
|
Gross Domestic Products (USD billion) |
136 |
119 |
102.2 |
|||
|
GDP Growth (%) |
5.03 |
5.89 |
6.78 |
|||
|
GDP Per Capita
(USD/person/year) |
1,540 |
1,300 |
1,160 |
|||
|
Inflation (% Change in
Composite CPI) |
9.21 |
18.58 |
11.75 |
|||
|
State Budget Deficit compared
with GDP (%) |
4.8 |
4.9 |
5.8 |
|||
|
|
||||||
SERVICE TRADE PERFORMANCE
|
||||||
|
|
||||||
|
Billion USD |
2012 |
2011 |
2010 |
|||
|
Exports |
114.6 |
96.3 |
72.2 |
|||
|
Imports |
114.3 |
105.8 |
84.8 |
|||
|
Trade Balance |
0.3 |
-9.5 |
-12.6 |
|||
Source: General
Statistics Office
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.94 |
|
|
1 |
Rs.90.47 |
|
Euro |
1 |
Rs.77.86 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.