|
Report Date : |
18.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
UNIFY FARMING COMPANY LIMITED |
|
|
|
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Registered Office : |
No. 97/23A |
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Country : |
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|
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Date of Incorporation : |
2006 |
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|
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Com. Reg. No.: |
0304465014 |
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Legal Form : |
Limited Liability Company |
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|
|
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Line of Business : |
Trading, repairing and maintaining electronics, computer, telephone,
printer, fax machine, copier and telecommunication. |
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No. of Employees : |
10 |
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 : |
Unknown |
|
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 |
|
UNIFY FARMING COMPANY LIMITED |
|
Vietnamese Name |
|
CONG TY TNHH HOP NHAT NONG |
|
Short name |
|
UNIFARM CO., LTD |
|
Type of Business |
|
Limited liability company |
|
Year Established |
|
2006 |
|
Business Registration No. |
|
0304465014 |
|
Date of Registration |
|
06 Oct 2010 |
|
Place of Registration |
|
Business Registration Office- Planning and
Investment Department of Hochiminh City |
|
Chartered capital |
|
VND 4,800,000,000 |
|
Tax code |
|
0304465014 |
|
Total Employees |
|
10 |
|
Size |
|
Small |
Historical Identification & Legal form
|
List |
Changed Items |
|
1 |
Subject has got former Registered
Vietnamese Name: CONG TY TNHH DAT DUC TAM Changed to: CONG TY TNHH HOP NHAT NONG |
ADDRESSES
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||
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Head Office |
||
|
Address |
|
No. 97/23A Hung Phu Street, Ward 8,
District 8, Ho Chi Minh City, Vietnam |
|
Telephone |
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(84-8) 3954 0660 - 6673 2747 |
|
Fax |
|
(84-8) 3954 3506 |
|
Email |
|
|
|
Website |
|
|
|
The given address “No 97/223A, Hung
Phu Street, Ward 8, HCM “ is
incorrect |
||
|
|
||
|
.
NAME |
|
Ms.
TON TUYET MY |
|
Position |
|
Director |
|
ID Number/Passport |
|
024889714 |
|
ID Issue Date |
|
20 Feb 2008 |
|
ID Issue Place |
|
Police Station of
Hochiminh City |
|
Resident |
|
No. 119/83 Pham The Hien
Street, Ward 2, District 8, Ho Chi Minh City, Vietnam |
|
Current resident |
|
No. 97/23A Hung Phu Street, Ward 8,
District 8, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Qualification |
|
Management |
|
|
||
|
2.
NAME |
|
Ms.
TON TUYET MAI |
|
Position |
|
Deputy Director |
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ID Number/Passport |
|
310048604 |
|
Resident |
|
No. 74/32 Le Thi Hong
Gam Street, Ward 4, My Tho City, Tien Giang Province, Vietnam |
|
Nationality |
|
Vietnamese |
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BUSINESS NATURE AND ACTIVITIES
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Subject registered operation in: |
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IMPORT & EXPORT ACTIVITIES |
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IMPORT: |
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·
Types of products |
|
chemicals |
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·
Market |
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China, Canada |
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|
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EXPORT: |
||
|
Note: Currently, the subject does not export |
||
|
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BANKERS
|
||
|
|
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VIETNAM
TECHNOLOGICAL AND COMMERCIAL JOINT STOCK BANK - SAI GON BRANCH |
||
|
Address |
|
Ground Floor, Mezzanine, 1st Floor, Golden Tower Building,
No. 6 Nguyen Thi Minh Khai Str, Da Kao Ward, District 1, Ho Chi Minh City,
Vietnam |
|
Telephone |
|
(84-8) 3911 6868 - (84-8) 3821 2155 |
|
Fax |
|
(84-8) 39112199 |
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|
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SHAREHOLDERS
|
||
|
|
||
|
1.
NAME |
|
Ms.
TON TUYET MY |
|
Position |
|
Director |
|
ID Number/Passport |
|
024889714 |
|
Issued on |
|
20 Feb 2008 |
|
Issued Place |
|
Police Station of Hochiminh City |
|
Resident |
|
No. 119/83 Pham The Hien Street, Ward 2, District
8, Ho Chi Minh City, Vietnam |
|
Current Resident |
|
No. 97/23A Hung Phu Street, Ward 8,
District 8, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 3,360,000,000 |
|
Percentage |
|
70% |
|
|
||
|
2.
NAME |
|
Ms.
TON TUYET MAI |
|
Position |
|
Deputy Director |
|
ID Number/Passport |
|
310048604 |
|
Resident |
|
No. 74/32 Le Thi Hong Gam Street, Ward 4,
My Tho City, Tien Giang Province, Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 960,000,000 |
|
Percentage |
|
20% |
|
|
||
|
3.
NAME |
|
Mr.
TRINH HUU DANH |
|
ID Number/Passport |
|
021650736 |
|
Resident |
|
No. 93/8A Hung Phu Street, Ward 8,
District 8, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 480,000,000 |
|
Percentage |
|
10% |
|
|
||
FINANCIAL DATA
|
|
N/A |
PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
||
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||
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Trade Morality |
|
Normal |
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Liquidity |
|
N/A |
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Payment status |
|
N/A |
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Financial Situation |
|
N/A |
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Development trend |
|
N/A |
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Litigation data |
|
No Record |
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Bankruptcy |
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No Record |
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Payment Methods |
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N/A |
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Sale Methods |
|
Retailer and Wholesaler |
|
Public opinion |
|
Normal |
|
|
INTERPRETATION ON THE SCORES
|
|
|
|
UNIFY FARMING COMPANY
LIMITED – CONG TY TNHH HOP NHAT NONG was established in 2006. Currently, it is
operating under business registration No. 0304465014 with chartered capital of VND 4.8 billion. Subject
registered head office at “No. 97/23A Hung Phu Street, Ward 8, District 8, Ho
Chi Minh City”. Total workforce is
about 10 employees. Although
subject registered in many field, at present, subject specializes in trading
products and raw materials for production of fertilizers and agrochemicals
has brand names as GroFarm, GapFarm, WonderFarm, MicroFarm, BioFarm,
TeamFarm, GrassFarm, PestFarm, FungiFarm, MAP, MKP, KNO3, K2SO4,
ZnSO4, MgSO4, K2CO3, Calcium Boron, NAA, GA3, Paclobutrazol, KClO3, Thiourea… The subject mainly imported fertilizers
and agrochemicals from China and Canada. Its products are consumed in
domestic market only. Premises
and facilities of this company are normal. Future prospect of subject seems
bright. In our opinion, the subject has capacity to meet small financial
commitments. |
------------ 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
|
||||||
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|
||||||
|
|
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 |
|||
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|
||||||
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.57.73 |
|
|
1 |
Rs.90.61 |
|
Euro |
1 |
Rs.76.96 |
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.