|
Report Date : |
17.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
PHAN VU INVESTMENT CORPORATION |
|
|
|
|
Registered Office : |
No. 37 Hoang Van Thu Str, Ward 15, Phu Nhuan District, Ho Chi Minh City |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Year of Incorporation : |
2001 |
|
|
|
|
Com. Reg. No.: |
0302217087 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Activities auxiliary to finance |
|
|
|
|
No. of Employees : |
95 (not include employees in subsidiaries) |
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
|
||
|
Registered English Name |
|
PHAN VU INVESTMENT CORPORATION |
|
Registered Vietnamese Name |
|
CONG TY CO PHAN DAU TU PHAN VU |
|
Trade name |
|
PHAN VU INVESTMENT CORPORATION |
|
Registered Short name |
|
PVI CORP |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
2001 |
|
Business Registration No. |
|
0302217087 |
|
Date of the latest adjustment (19th) |
|
07 Jun 2012 |
|
Place of Registration |
|
Business Registration Office - Planning
and Investment Department of Ho Chi Minh City |
|
Chartered capital |
|
VND 239,998,500,000 |
|
Tax code |
|
0302217087 |
|
Total Employees |
|
95 (not include employees in subsidiaries) |
|
Size |
|
Large |
Historical Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Address: No. 198/A1
Hoang Van Thu Str, Ward 9, Phu Nhuan District, Ho Chi Minh City, Vietnam Changed to: No. 37 Hoang Van Thu Str, Ward
15, Phu Nhuan District, Ho Chi Minh City, Vietnam |
02
Dec 2011 |
|
2 |
Subject has got former Business Registration
No: 4103000289 (issued on 08 Feb 2001) Changed to: 0302217087 |
- |
ADDRESSES
|
||
|
|
||
|
Head Office |
||
|
Address |
|
No. 37 Hoang Van Thu Str, Ward 15, Phu
Nhuan District, Ho Chi Minh City, Vietnam |
|
|
||
|
Representative office
in Ho Chi Minh |
||
|
Address |
|
16th Floor, Indochina Park Tower, No. 4
Nguyen Dinh Chieu Str, Da Kao Ward, District 1, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 2220 0884 - 2220 0885 - 2220 0886 |
|
Fax |
|
(84-8) 2220 0887 |
|
Email |
|
|
|
Website |
|
|
|
|
||
SUBSIDIARIES AND RELATED
COMPANIES
|
||
|
|
||
|
1. PHAN VU
CONSTRUCTION AND PRODUCTION ONE MEMBER COMPANY LIMITED |
||
|
Business Registration |
|
4604000348 |
|
Date of Registration |
|
25 Apr 2008 |
|
Place of Registration |
|
Business Registration Office of Binh Duong Province |
|
Chartered capital |
|
VND 25,767,549,000 |
|
Tax code |
|
0301443238 |
|
Address |
|
No. 20 DT743 Street, Song Than II Industrial Park, Binh Duong
Province, Vietnam |
|
Tel |
|
(84-650) 3742 288 – 3742 526 |
|
Fax |
|
(84-650) 3742 289 |
|
|
||
|
2. PHAN VU
INVESTMENT FOR GENERAL SERVICE JOINT STOCK COMPANY |
||
|
Business Registration |
|
6503000018 |
|
Date of Registration |
|
11 Jun 2007 |
|
Place of Registration |
|
Dung Quat Economic Zone Authority |
|
Chartered capital |
|
VND 26,000,000,000 |
|
Tax code |
|
4300355723 |
|
Address |
|
Binh Thuan Commune, Binh Son District, Quang Ngai Province, Vietnam |
|
Tel |
|
(84-55) 3610 559 |
|
Fax |
|
(84-55) 3610 593 |
|
|
||
|
3. PHAN VU - CAN
THO CONCRETE JOINT STOCK COMPANY |
||
|
Business Registration |
|
5703000129 |
|
Date of Registration |
|
12 Jan 2005 |
|
Place of Registration |
|
Can Tho Department of Planning and Development |
|
Chartered capital |
|
VND 10,000,000,000 |
|
Tax code |
|
1800575746 |
|
Address |
|
366B Cach Mang Thang 8 An Thoi, Binh Thuy District, Can Tho City,
Vietnam |
|
Tel |
|
(84-071) 3885 673-4 |
|
Fax |
|
(84-071) 3826 021 |
|
|
||
|
4. PHAN VU - DONG
NAI PRODUCTION JOINT - STOCK COMPANY |
||
|
Business Registration |
|
3600674750 |
|
Date of Registration |
|
06 May 2013 |
|
Place of Registration |
|
Planning and Investment Department of Dong Nai Province |
|
Chartered capital |
|
VND 103,800,120,000 |
|
Tax code |
|
3600674750 |
|
Address |
|
Hamlet 2, Phuoc Khanh Commune , Nhon Trach District, Dong Nai
Province, Vietnam |
|
Tel |
|
(84-061) 3577 029 |
|
Fax |
|
(84-061) 3576 553 |
|
|
||
|
5. PHAN VU QUANG
BINH CONCRETE COMPANY LIMITED |
||
|
Business Registration |
|
3100943483 |
|
Date of Registration |
|
07 Aug 2012 |
|
Place of Registration |
|
Quang Binh Department of Planning and Investment |
|
Chartered capital |
|
VND 70,000,000,000 |
|
Tax code |
|
3100943483 |
|
Address |
|
Lot 1A2-1A1-1C Cang Bien Hon La Industrial Park, Quang Dong Commune,
Quang Trach District, Quang Binh Province, Vietnam |
|
Tel |
|
(84-52) 3507 456/455 |
|
Fax |
|
(84-52) 3599 595 |
|
|
||
|
6. FICO HIGH TECHNOLOGY
JOINT STOCK COMPANY |
||
|
Business Registration |
|
0310319621 |
|
Tax code |
|
0310319621 |
|
Address |
|
15th Floor, Sailing Tower, No. 111A Pasteur street, Ben Nghe ward, 1
District, Ho Chi Minh City, Vietnam |
|
|
||
|
7. THIEN CAT BUILDING
MATERIALS JOINT STOCK COMPANY |
||
|
Business Registration |
|
3700840031 |
|
Tax code |
|
3700840031 |
|
Address |
|
No. 20, DT 743 Road Song Than II Industrial Park, Di An Town, Binh
Duong Province, Vietnam |
|
Tel |
|
(84-650) 3790 683 |
|
Fax |
|
(84-650) 3742 289 |
|
|
||
|
8. VIET
MECHANICAL CONSTRUCTION JOINT STOCK COMPANY |
||
|
Business Registration |
|
6300053395 |
|
Tax code |
|
6300053395 |
|
Address |
|
Hamlet I Long My town, Long My District, Hau Giang Province, Vietnam |
|
|
||
|
9. PHAN VU POWER
CONSTRUCTION INVESTMENT JOINT STOCK COMPANY |
||
|
Business Registration |
|
5900407118 |
|
Tax code |
|
5900407118 |
|
Address |
|
Khop Hamlet, IA To Commune, Ia Grai District, Gia Lai Province,
Vietnam |
|
|
||
DIRECTORS
|
||
|
|
||
|
1.
NAME |
|
Mr.
PHAN KHAC LONG |
|
Position |
|
General Director |
|
Date of Birth |
|
04 Nov 1961 |
|
ID Number/Passport |
|
020907633 |
|
ID Issue Date |
|
15 Jul 2011 |
|
ID Issue Place |
|
Police Station of Ho
Chi Minh City |
|
Resident |
|
No. 281/40 Le Van Sy
Str, Ward 1, Tan Binh District, Ho Chi Minh City, Vietnam |
|
Current resident |
|
No. 350/12 Nguyen Trong Tuyen Str, Ward 2,
Tan Binh District, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Qualification |
|
Management |
|
|
||
|
2.
NAME |
|
Ms.
VU THI HIEN |
|
Position |
|
Deputy General Director - Member of BOM |
|
ID Number/Passport |
|
020398238 |
|
ID Issue Date |
|
25 Feb 2002 |
|
ID Issue Place |
|
Police Station of Ho
Chi Minh city |
|
Resident |
|
No. 281/40 Le Van Sy
Str, Ward 1, Tan Binh District, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobile phone |
|
+84 983 907 365 |
|
Email |
|
|
|
Qualification |
|
Management |
|
|
||
|
3.
NAME |
|
Mr.
LU TRIEU DUONG |
|
Position |
|
Deputy General Director |
|
ID Number/Passport |
|
022761419 |
|
Resident |
|
26B, Nguyen Thai Binh
Ward, District 1, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobile phone |
|
+84 903 712 293 |
|
Email |
|
|
|
|
||
|
4.
NAME |
|
Mr.
NGUYEN DUC DUNG |
|
Position |
|
Deputy General Director |
|
Nationality |
|
Vietnamese |
|
Email |
|
|
|
|
||
|
5.
NAME |
|
Mr.
HUYNH HY DONG |
|
Position |
|
Director of Phan Vu Can Tho |
|
ID Number/Passport |
|
360031124 |
|
Nationality |
|
Vietnamese |
|
|
||
|
6.
NAME |
|
Mr.
PHAM NGOC THINH |
|
Position |
|
Director of Phan Vu Quang Ngai |
|
Date of Birth |
|
18 Jun 1963 |
|
ID Number/Passport |
|
020935834 |
|
ID Issue Date |
|
22 Feb 1997 |
|
ID Issue Place |
|
Hochiminh Police |
|
Current resident |
|
No. 73 Le Trong Tan Str. - Son Ky Ward,
Tan Phu District, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
7.
NAME |
|
Mr.
BUI DUC THONG |
|
Position |
|
Director of Phan Vu Dong Nai |
|
Date of Birth |
|
11 Nov 1961 |
|
ID Number/Passport |
|
022750756 |
|
ID Issue Date |
|
18 Nov 2002 |
|
ID Issue Place |
|
Police Station in
Hochiminh City |
|
Resident |
|
28 Tran Cao Van, Ward
6, District 3, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
8.
NAME |
|
Mr.
DANG KIEN HUNG |
|
Position |
|
Director of Phan Vu Quang Binh |
|
Date of Birth |
|
01 Jan 1970 |
|
ID Number/Passport |
|
022454754 |
|
ID Issue Date |
|
02 Nov 1998 |
|
ID Issue Place |
|
Hochiminh Police
Station |
|
Resident |
|
No 74 Tran Binh Trong
Street, 5 District, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
9.
NAME |
|
Mr.
NGUYEN VAN XUAN |
|
Position |
|
Director of Phan Vu – Electric
Construction |
|
Nationality |
|
Vietnamese |
|
|
||
|
10.
NAME |
|
Ms.
DAM THI PHUONG ANH |
|
Position |
|
Chief Accountant |
|
Nationality |
|
Vietnamese |
|
Email |
|
|
|
|
||
|
11.
NAME |
|
Ms.
VU THI NGOC HAN |
|
Position |
|
Human Resource Manager |
|
Nationality |
|
Vietnamese |
|
Tel/Mobile phone |
|
+84 983 799 094 |
|
Email |
|
|
|
|
||
|
12.
NAME |
|
Mr.
NGUYEN THANH TUNG |
|
Position |
|
Member of BOM |
|
Resident |
|
Ho Chi Minh City,
Vietnam |
|
Nationality |
|
Vietnamese |
|
Qualification |
|
Management |
|
|
||
|
13.
NAME |
|
Mr.
AKIRA KUROSE |
|
Position |
|
Member of BOM |
|
Date of Birth |
|
21 Apr 1947 |
|
ID Number/Passport |
|
TK0815572 |
|
ID Issue Date |
|
13 Jan 2010 |
|
ID Issue Place |
|
Japan |
|
Nationality |
|
Japanese |
|
Years of experience |
|
President of Japan Pile Corporation |
|
|
||
|
14.
NAME |
|
Mr.
YOSHIHITO YAMAMOTO |
|
Position |
|
Member of BOM |
|
Date of Birth |
|
15 Apr 1948 |
|
ID Number/Passport |
|
TK1386201 |
|
ID Issue Date |
|
16 Mar 2010 |
|
ID Issue Place |
|
Japan |
|
Nationality |
|
Japanese |
|
Years of experience |
|
Director of Business Planning of Japan
Pile Corporation |
|
|
||
|
15.
NAME |
|
Mr.
DOAN HUNG DUNG |
|
Position |
|
Member of BOM |
|
Resident |
|
Ho Chi Minh City,
Vietnam |
|
Nationality |
|
Vietnamese |
|
Qualification |
|
Management |
|
|
||
|
16.
NAME |
|
Mr.
TRAN VU ANH TUAN |
|
Position |
|
Director of Phan Vu Binh Duong |
|
Date of Birth |
|
30 Aug 1983 |
|
ID Number/Passport |
|
023466331 |
|
ID Issue Date |
|
28 Apr 1998 |
|
ID Issue Place |
|
Police station of Ho
Chi Minh City |
|
Resident |
|
11.03 Building A Ngo
Gia Tu, Ward 3, District 10, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Qualification |
|
Management |
|
|
||
BUSINESS NATURE AND ACTIVITIES
|
|
|
|
Activities auxiliary to finance n.e.c |
|
|
|
IMPORT & EXPORT ACTIVITIES |
||
|
|
||
|
IMPORT: |
||
|
·
Types of products |
|
Materials |
|
·
Market |
|
Japan, Korea, China |
|
|
||
|
EXPORT: |
||
|
·
Market |
|
Japan, Cambodia, Myanmar |
|
·
Mode of payment |
|
L/C, T/T |
|
|
||
|
|
||
BANKERS
|
||
|
|
||
|
1.
BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM HOCHIMINH CITY BRANCH |
||
|
Address |
|
No. 134 Nguyen Cong Tru Street, District 1, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-08) 3823 0125 |
|
Fax |
|
(84-08) 3829 8862 |
|
|
||
|
2.
VIET NAM BANK FOR AGRICULTURE AND RURAL DEVELOPMENT |
||
|
Address |
|
7Bis Ben Chuong Duong Street, Nguyen Thai Binh Ward, District 1, Ho
Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 3821 0566 |
|
Fax |
|
(84-8) 3829 2213 |
|
|
||
|
3.
HSBC BANK (VIETNAM) LTD |
||
|
Address |
|
Floor 06th, The Metropolitan Building 235 Dong Khoi Street, District
1, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84 8) 3829 2288 |
|
Fax |
|
(84 8) 3299 0018 |
|
|
||
|
4.
JOINT STOCK BANK FOR FOREIGN TRADE OF VIETNAM HO CHI MINH BRANCH |
||
|
Address |
|
No.10 Vo Van Kiet Street, District 1, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 3829 7245 |
|
Fax |
|
(84-8) 3829 7228 |
|
|
||
SHAREHOLDERS
|
||
|
|
||
|
1.
NAME |
|
Mr.
PHAN KHAC LONG |
|
Position |
|
General Director |
|
Date of Birth |
|
04 Nov 1961 |
|
ID Number/Passport |
|
020907633 |
|
Issued on |
|
15 Jul 2011 |
|
Issued Place |
|
Police Station of Ho Chi Minh City |
|
Resident |
|
No. 281/40 Le Van Sy Str, Ward 1, Tan Binh
District, Ho Chi Minh City, Vietnam |
|
Current Resident |
|
No. 350/12 Nguyen Trong Tuyen Str, Ward 2,
Tan Binh District, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
3,489,124 |
|
Value of shares |
|
VND 34,891,240,000 |
|
|
||
|
2.
NAME |
|
Ms.
VU THI BAO HUONG |
|
ID Number/Passport |
|
020233385 |
|
Issued Place |
|
Police Station of Ho Chi Minh City |
|
Resident |
|
No. 54 Ham Nghi Str, Ben Nghe Ward,
District 1, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
12,400 |
|
Value of shares |
|
VND 124,000,000 |
|
|
||
|
3.
NAME |
|
Ms.
VU THI HIEN |
|
Position |
|
Deputy General Director |
|
ID Number/Passport |
|
020398238 |
|
Issued on |
|
25 Feb 2002 |
|
Issued Place |
|
Police Station of Ho Chi Minh city |
|
Resident |
|
No. 281/40 Le Van Sy Str, Ward 1, Tan Binh
District, Ho Chi Minh City, Vietnam |
|
Email |
|
|
|
Mobile phone |
|
+84 983 907 365 |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
3,125,000 |
|
Value of shares |
|
VND 31,250,000,000 |
|
|
||
FINANCIAL DATA
|
||
|
|
||
|
BALANCE
SHEET |
||
Unit: One VND
|
||
|
Balance sheet
date |
31/12/2011 |
31/12/2010 |
|
Number of weeks |
52 |
52 |
|
Audit status |
Audited |
Audited |
ASSETS
|
||
|
A – CURRENT
ASSETS |
659,870,916,714 |
520,010,739,575 |
|
I. Cash and cash
equivalents |
104,628,357,759 |
16,897,806,381 |
|
1. Cash |
21,628,357,759 |
16,897,806,381 |
|
2. Cash equivalents |
83,000,000,000 |
0 |
|
II. Short-term
investments |
|
|
|
1. Short-term investments |
|
|
|
2. Provisions for devaluation of short-term investments |
|
|
|
III. Accounts
receivable |
368,393,479,031 |
353,436,423,593 |
|
1. Receivable from customers |
266,944,376,289 |
253,178,199,679 |
|
2. Prepayments to suppliers |
15,521,728,547 |
20,364,149,791 |
|
3. Inter-company receivable |
104,079,977,641 |
99,531,400,501 |
|
4. Receivable according to the progress of construction |
|
|
|
5. Other receivable |
|
|
|
6. Provisions for bad debts |
-18,152,603,446 |
-19,637,326,378 |
|
IV. Inventories |
169,774,988,307 |
141,894,664,532 |
|
1. Inventories |
170,098,111,997 |
141,947,430,747 |
|
2. Provisions for devaluation of inventories |
-323,123,690 |
-52,766,215 |
|
V. Other Current
Assets |
17,074,091,617 |
7,781,845,069 |
|
1. Short-term prepaid expenses |
2,461,955,438 |
1,875,085,442 |
|
2. VAT to be deducted |
7,720,296,858 |
3,458,684,246 |
|
3. Taxes and other accounts receivable from the State |
29,894,854 |
58,688,101 |
|
4. Other current assets |
6,861,944,467 |
2,389,387,280 |
|
B. LONG-TERM
ASSETS |
501,167,443,422 |
445,995,174,821 |
|
I. Long term
accounts receivable |
2,096,974,854 |
3,744,561,263 |
|
1. Long term account receivable from customers |
1,062,141,157 |
3,640,472,665 |
|
2. Working capital in affiliates |
1,034,833,697 |
104,088,598 |
|
3. Long-term inter-company receivable |
|
|
|
4. Other long-term receivable |
|
|
|
5. Provisions for bad debts from customers |
|
|
|
II. Fixed assets
|
412,669,871,281 |
356,439,559,739 |
|
1. Tangible assets |
308,278,848,090 |
229,447,006,124 |
|
- Historical costs |
485,620,521,036 |
378,503,293,302 |
|
- Accumulated depreciation |
-177,341,672,946 |
-149,056,287,178 |
|
2. Financial leasehold assets |
12,909,106,495 |
0 |
|
- Historical costs |
13,287,406,237 |
0 |
|
- Accumulated depreciation |
-378,299,742 |
0 |
|
3. Intangible assets |
32,996,459,209 |
36,884,958,226 |
|
- Initial costs |
39,624,517,010 |
42,306,334,755 |
|
- Accumulated amortization |
-6,628,057,801 |
-5,421,376,529 |
|
4. Construction-in-progress |
58,485,457,487 |
90,107,595,389 |
|
III. Investment
property |
3,524,772,727 |
0 |
|
Historical costs |
3,524,772,727 |
0 |
|
Accumulated depreciation |
0 |
0 |
|
IV. Long-term
investments |
71,970,632,515 |
76,997,039,786 |
|
1. Investments in affiliates |
18,341,657,419 |
27,840,409,690 |
|
2. Investments in business concerns and joint ventures |
|
|
|
3. Other long-term investments |
56,668,660,979 |
52,196,315,979 |
|
4. Provisions for devaluation of long-term investments |
-3,039,685,883 |
-3,039,685,883 |
|
V. Other
long-term assets |
5,654,376,045 |
2,906,846,033 |
|
1. Long-term prepaid expenses |
1,154,350,318 |
871,353,608 |
|
2. Deferred income tax assets |
4,403,025,727 |
1,934,492,425 |
|
3. Other long-term assets |
97,000,000 |
101,000,000 |
|
VI. Goodwill |
5,250,816,000 |
5,907,168,000 |
|
1. Goodwill |
5,250,816,000 |
5,907,168,000 |
|
TOTAL ASSETS |
1,161,038,360,136
|
966,005,914,396 |
|
|
||
LIABILITIES
|
||
|
A- LIABILITIES |
786,848,055,863 |
596,432,830,184 |
|
I. Current
liabilities |
677,684,761,218 |
498,325,834,009 |
|
1. Short-term debts and loans |
302,242,531,341 |
278,299,208,334 |
|
2. Payable to suppliers |
167,625,137,336 |
128,528,781,102 |
|
3. Advances from customers |
62,760,272,026 |
36,301,432,605 |
|
4. Taxes and other obligations to the State Budget |
10,253,401,955 |
14,815,224,268 |
|
5. Payable to employees |
7,179,561,942 |
9,084,259,118 |
|
6. Accrued expenses |
11,736,002,942 |
16,235,536,933 |
|
7. Inter-company payable |
|
|
|
8. Payable according to the progress of construction contracts |
|
|
|
9. Other payable |
115,887,853,676 |
15,061,391,649 |
|
10. Provisions for short-term accounts payable |
|
|
|
11. Bonus and welfare funds |
|
|
|
II. Long-Term
Liabilities |
109,163,294,645 |
98,106,996,175 |
|
1. Long-term accounts payable to suppliers |
7,541,284,434 |
5,721,196,369 |
|
2. Long-term inter-company payable |
|
|
|
3. Other long-term payable |
31,489,000 |
31,489,000 |
|
4. Long-term debts and loans |
98,107,114,313 |
84,519,943,483 |
|
5. Deferred income tax payable |
0 |
4,915,124,355 |
|
6. Provisions for unemployment allowances |
3,483,406,898 |
2,919,242,968 |
|
7. Provisions for long-term accounts payable |
|
|
|
8. Unearned Revenue |
|
|
|
9. Science and technology development fund |
|
|
|
B- OWNER’S
EQUITY |
291,477,163,870 |
288,756,400,420 |
|
I. OWNER’S
EQUITY |
285,953,377,299 |
283,510,933,425 |
|
1. Capital |
189,998,500,000 |
150,000,000,000 |
|
2. Share premiums |
44,594,481,500 |
63,294,481,500 |
|
3. Other sources of capital |
|
|
|
4. Treasury stocks |
|
|
|
5. Differences on asset revaluation |
|
|
|
6. Foreign exchange differences |
|
|
|
7. Business promotion fund |
10,710,192,396 |
8,155,568,685 |
|
8. Financial reserved fund |
13,850,083,378 |
12,542,902,575 |
|
9. Other funds |
|
|
|
10. Retained earnings |
26,800,120,025 |
49,517,980,665 |
|
11. Construction investment fund |
|
|
|
12. Business arrangement supporting fund |
|
|
|
II. Other
sources and funds |
5,523,786,571 |
5,245,466,995 |
|
1. Bonus and welfare funds (Elder form) |
5,523,786,571 |
5,245,466,995 |
|
2. Sources of expenditure |
|
|
|
3. Fund to form fixed assets |
|
|
|
MINORITY’S
INTEREST |
82,713,140,403 |
80,816,683,792 |
|
TOTAL
LIABILITIES AND OWNER’S EQUITY |
1,161,038,360,136
|
966,005,914,396 |
|
|
||
|
PROFIT
& LOSS STATEMENT |
||
|
|
||
|
Description |
FY2011 |
FY2010 |
|
1. Total Sales |
738,327,045,890 |
901,477,277,498 |
|
2. Deduction item |
6,393,039,796 |
7,844,846,436 |
|
3. Net revenue |
731,934,006,094 |
893,632,431,062 |
|
4. Costs of goods sold |
602,279,001,528 |
732,955,743,744 |
|
5. Gross profit |
129,655,004,566 |
160,676,687,318 |
|
6. Financial income |
7,528,880,743 |
5,828,274,915 |
|
7. Financial expenses |
69,375,342,119 |
40,300,422,358 |
|
- In which: Loan interest expenses |
58,604,108,765 |
34,030,904,896 |
|
8. Selling expenses |
19,653,474,431 |
18,907,321,679 |
|
9. Administrative overheads |
47,038,647,418 |
39,920,491,832 |
|
10. Net operating profit |
1,116,421,341 |
67,376,726,364 |
|
11. Other income |
37,573,935,840 |
6,212,632,721 |
|
12. Other expenses |
31,342,858,076 |
3,196,660,733 |
|
13. Other profit /(loss) |
6,231,077,764 |
3,015,971,988 |
|
14. Total accounting profit before tax |
7,347,499,105 |
70,392,698,352 |
|
15. Current corporate income tax |
5,430,114,079 |
17,764,888,220 |
|
16. Deferred corporate income tax |
7,383,657,657 |
-4,551,580,522 |
|
17. Interest from subsidiaries/related companies |
218,672,841 |
221,661,679 |
|
18. Profit after tax |
9,519,715,524 |
48,297,891,289 |
|
|
|||
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
|||
|
|
|||
|
Description |
FY2011 |
FY2010 |
Average Industry |
|
Current liquidity ratio |
0.97 |
1.04 |
1.49 |
|
Quick liquidity ratio |
0.72 |
0.76 |
0.76 |
|
Inventory circle |
3.86 |
5.17 |
4.15 |
|
Average receive period |
183.71 |
144.36 |
428.99 |
|
Utilizing asset performance |
0.63 |
0.93 |
0.47 |
|
Liability by total assets |
67.77 |
61.74 |
68.68 |
|
Liability by owner's equity |
269.95 |
206.55 |
399.20 |
|
Ebit / Total assets (ROA) |
5.68 |
10.81 |
4.58 |
|
Ebit / Owner's equity (ROE) |
22.63 |
36.16 |
22.45 |
|
Ebit / Total revenue (NPM) |
8.93 |
11.58 |
17.51 |
|
Gross profit / Total revenue (GPM) |
17.56 |
17.82 |
19.94 |
|
Note: The Average Industry was calculated by VietnamCredit based on our own
statistical data |
|||
|
|
|||
PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
||
|
|
||
|
Trade Morality |
|
Good |
|
Liquidity |
|
Medium |
|
Payment status |
|
Normal |
|
Financial Situation |
|
Above Average |
|
Development trend |
|
Stable |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
By cash or through the bank |
|
Sale Methods |
|
To projects |
|
Public opinion |
|
Good |
|
|
INTERPRETATION ON THE SCORES
|
|
|
|
The subject was established in 2001 under
the Business Registration No. 4103000289. Currently, the subject is operating
under the Business Registration No. 0302217087 with registered capital of VND
239,998,500,000. Registration head office is located at “No. 37 Hoang Van Thu
Str, Ward 15, Phu Nhuan District, Ho Chi Minh City, Vietnam”. But all
transactions of the subject are taken place at its representative office. The subject is specializing in manufacturing and trading spun poles, spun pipe, prefabricated building components …for electric field and industrial zones. The main products of the subject are Prestressed Centrifugal Concrete Electrical Pole, Concrete Square Piles, Centrifugal Concrete Drainage Pipe, Ready mixed Concrete. In addition, the subject installs, designs, transfer spun poles, spun pipe, pressing pile service and driving pile service. The subject imports materials and machines from Japan, Korea, China… The subject is regarded as the largest supplier in Viet Nam of precast concrete products such as foundation piles (including the prestressed centrifugal concrete spun pile, square pile), centrifugal concrete drainage pipe, culverts and other concrete component products. The subject and its related companies runs six plants in the provinces of Hai Duong, Quang Ngai, Dong Nai, Binh Duong, Can Tho and Long An. Recently, the subject has co-operated with Japan Pile Corp to established Phan Vu Quang Binh Concrete Limited, this new entity will be engaged in the manufacture and sale of concrete piles. Currently, the subject is operating busily. According to
the financial data, revenue and profit after tax of the subject were fairly
high. In 2011, turnover of the subject was VND 738,327,045,890, lower than revenue in 2010. The liquidity of the
subject was at acceptable level. Profit in 2011 decreased, which ROA, ROE
were lower than in 2010. Recently,
macroeconomic situation has been uncertain, market has been volatile. The operating capacity of the subject has decreased slightly in
production scale and capacity to provide products and services. Management of this company is good. Its owners have operated in this field since 1990’s. Recently, the subject has only registered Mr. PHAN KHAC LONG, Ms. VU THI BAO HUONG and Ms. VU THI HIEN as its shareholder. In fact, Japan Pile Corp has become a strategic partner and a large shareholder of the subject. It is expected that the co-operation with Japan Pile Corporation, the subject and its subsidiaries would be committed to update technologies in manufacturing and construction of pile foundation as well as engineer staff training. Overall, the company is strong in
assets and ability. The company has
guarantees for average- large size debt repayment. It is expected that the
company’s income and profit margin would keep optimistic in the next couple
of years; therefore, the rating outlook for the company is at average level. |
------------ 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.57.74 |
|
|
1 |
Rs.90.64 |
|
Euro |
1 |
Rs.77.02 |
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.