|
Report Date : |
24.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
FECON FOUNDATION ENGINEERING
AND UNDERGROUND CONSTRUCTION JOINT STOCK COMPANY |
|
|
|
|
Registered Office : |
15th Flr, CEO
Building, Plot HH2-1, Pham Hung Str, Tu Liem District, Ha Noi City |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Year of Establishments: |
2004 |
|
|
|
|
Com. Reg. No.: |
0101502599 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Foundation and underground execution for building, industrial projects,
transportation projects and irrigation projects |
|
|
|
|
No. of Employees : |
432 |
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 |
|
FECON FOUNDATION ENGINEERING AND UNDERGROUND CONSTRUCTION JOINT STOCK
COMPANY |
|
Vietnamese Name |
|
CONG TY CO PHAN KY THUAT NEN MONG VA CONG TRINH NGAM FECON |
|
Short name |
|
FECON .,JSC |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
2004 |
|
Business Registration No. |
|
0101502599 |
|
Date of Registration |
|
04 Nov 2011 |
|
Place of Registration |
|
Hanoi Department of Planning and Investment |
|
Chartered capital |
|
VND 138,051,620,000 |
|
Status |
|
Listed |
|
Stock symbol |
|
FCN |
|
Stock Market |
|
HOSE
(Hochiminh Stock Exchange) |
|
Tax code |
|
0101502599 |
|
Total Employees |
|
432 |
|
Size |
|
Medium |
Historical
Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Address: 4th Floor-Block C-D5 Building, Nguyen
Phong Sac Extension Street, Cau Giay District, Ha Noi City, Vietnam Changed
to: 15th Flr, CEO Building, Plot HH2-1, Pham Hung Str, Tu Liem District, Ha
Noi City, Vietnam |
N/A |
|
|
||
Company ADDRESSES
|
||
|
|
||
|
Head Office |
||
|
Address |
|
15th Flr, CEO Building, Plot HH2-1, Pham Hung Str, Tu Liem District,
Ha Noi City, Vietnam |
|
Telephone |
|
(84-4) 6269 0481 |
|
Fax |
|
(84-4) 6269 0484 |
|
|
||
|
Representative office in Ho Chi Minh |
||
|
Address |
|
No. 133 Road D3, Ward 25, Binh Thanh District, Ho Chi Minh City,
Vietnam |
|
|
||
SUBSIDIARIES AND RELATED
COMPANIES
|
||
|
|
||
|
1. PVC-FECON
PRESTRESSED CONCRETE JOINT STOCK COMPANY |
||
|
Business
Registration |
|
0700252549 |
|
Date of
Registration |
|
05 May 2010 |
|
Place of
Registration |
|
Ha Nam
Department of Planning and Investment |
|
Registered
Capital |
|
VND 150,000,000,000 |
|
Tax code |
|
0700252549 |
|
Address |
|
Thi Son Industrial Cluster, Thi Son Commune, Kim Bang District, Ha Nam
Province, Vietnam |
|
Tel |
|
(84-351) 3533038/3533086 |
|
Fax |
|
(84-351) 3533038 |
|
|
||
|
2. FECON
INVESTMENT LIMITED COMPANY |
||
|
Business
Registration |
|
0700222128 |
|
Tax code |
|
0700222128 |
|
Address |
|
Thi Son Industrial Cluster, Kim Bang District, Ha Nam Province,
Vietnam |
|
|
||
|
3.
FECON-SHANGHAI HARBOUR CO., LTD |
||
|
Tax code |
|
0104197826 |
|
Address |
|
19th Flr CEO Building, Lot HH2-1, Pham Hung Str, Tu Liem District, Ha
Noi City, Vietnam |
|
|
||
|
4. FOUNDATION
ENGINEERING INSTITUTE |
||
|
Tax code |
|
0101502599-001 |
|
Address |
|
16th Flr CEO Building, Lot HH2-1, Pham Hung Str, Tu Liem District, Ha Noi
City, Vietnam |
|
|
||
DIRECTORS
|
||
|
|
||
|
1. NAME |
|
Mr. PHAM VIET KHOA |
|
Position |
|
Chairman cum General Director |
|
Date of Birth |
|
31 Jan 1973 |
|
ID Number/Passport |
|
012121341 |
|
ID Issue Date |
|
25 Apr 1998 |
|
ID Issue Place |
|
Public Securities of Hanoi City |
|
Resident |
|
No. 524 CT4, My Dinh Urban Area, Tu Liem
District, Ha Noi City, Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
2. NAME |
|
Mr. NGUYEN CHI CONG |
|
Position |
|
Vice Director |
|
Resident |
|
No. 513A Cach Mang Thang Tam Str-Ward 13, 10
District, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
3. NAME |
|
Mr. PHAM QUOC HUNG |
|
Position |
|
Vice Director |
|
Current resident |
|
No. 112-Block B1 Thanh Cong Ward, Ba Dinh District, Ha Noi City,
Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
4. NAME |
|
Mr. TRAN TRONG THANG |
|
Position |
|
Vice Director |
|
Resident |
|
No. 611 Block D3-Phuong Mai Ward, Ba Dinh District,
Ha Noi City, Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
5. NAME |
|
Ms. NGUYEN THI THANH VAN |
|
Position |
|
Chief Accountant |
|
Nationality |
|
Vietnamese |
|
|
||
BUSINESS NATURE AND ACTIVITIES
|
|
|
|
The subject registered the
following business activities: |
|
|
IMPORT & EXPORT ACTIVITIES
|
||
|
|
||
|
IMPORT: |
||
|
·
Types
of products |
|
Machines,
equipments |
|
·
Market
|
|
Japan, China |
|
|
||
|
EXPORT: |
||
|
·
Market
|
|
The subject
does not export. |
|
|
||
BANKERS
|
||
|
|
||
|
1. BANK FOR INVESTMENT AND
DEVELOPMENT OF VIETNAM DONG DO BRANCH |
||
|
Address |
|
No.14 Lang Ha
Street, Ba Dinh District, Ha Noi City, Vietnam |
|
Telephone |
|
(84-4)
37723046 |
|
|
||
|
2. JOINT STOCK COMMERCIAL
BANK FOR FOREIGN TRADE OF VIETNAM HOAN KIEM BRANCH |
||
|
Address |
|
No.23 Phan Chu
Trinh, Hoan Kiem District, Ha Noi City, Vietnam |
|
Telephone |
|
(84-4)
39335566 |
|
Fax |
|
(84-4)
39335580 |
|
|
||
SHAREHOLDERS
|
||
|
|
||
|
1. NAME |
|
Mr. TRAN TRONG THANG |
|
Position |
|
Vice Director |
|
Resident |
|
No. 611 Block D3-Phuong Mai Ward, Ba Dinh District, Ha Noi City,
Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
335,878 |
|
|
||
|
2. NAME |
|
Mr. HA THE LONG |
|
Resident |
|
No. 112-Block B1 Thanh Cong Ward, Ba Dinh District, Ha Noi City,
Vietnam |
|
Number of Shares |
|
248,559 |
|
|
||
|
3. NAME |
|
Mr. NGUYEN CHI CONG |
|
Position |
|
Vice Director |
|
Resident |
|
No. 513A Cach Mang Thang Tam Str-Ward 13, 10 District, Ho Chi Minh
City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
246,369 |
|
|
||
|
4. NAME |
|
Mr. HA THE PHUONG |
|
Date of Birth |
|
10 Mar 1954 |
|
ID Number/Passport |
|
B2636279 |
|
Issued on |
|
25 Nov 2008 |
|
Issued Place |
|
Viet Nam Immigration Department |
|
Resident |
|
No. 50 Ha Dinh Str - Thanh Xuan Trung Ward, Thanh Xuan District, Ha
Noi City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
368,336 |
|
|
||
|
5. NAME |
|
Mr. PHUNG TIEN TRUNG |
|
Resident |
|
No.8/105 Xa Dan 2-Nam Dong Wart, Dong Da District, Ha Noi City,
Vietnam |
|
Number of Shares |
|
84,561 |
|
|
||
|
6. NAME |
|
Mr. HA CUU LONG |
|
Resident |
|
Quyet Thang Hamlet Yen Phu Commune, Y Yen District, Nam Dinh
Province, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
336,650 |
|
|
||
|
7. NAME |
|
Ms. HA THI BICH |
|
Resident |
|
No.2B Dang Thai Than Street-Phan Chu Trinh Wart, Hoan Kiem District,
Ha Noi City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
197,408 |
|
|
||
|
8. NAME |
|
Mr. BUI THANH TUNG |
|
Resident |
|
Rooom No.D52-A2-Lan 45 Chua Boc Street-Trung Liet Wart, Dong Da
District, Ha Noi City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
67,635 |
|
|
||
|
9. NAME |
|
Mr. PHAM QUOC HUNG |
|
Position |
|
Vice Director |
|
Current Resident |
|
No. 112-Block B1 Thanh Cong Ward, Ba Dinh District, Ha Noi City,
Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
232,543 |
|
|
||
|
10. NAME |
|
Ms. HA THI BON |
|
Resident |
|
Tan Quang Hamlet Phu Yen Commune, Y Yen District, Nam Dinh Province,
Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
61,302 |
|
|
||
|
11. NAME |
|
Mr. NGUYEN QUANG HAI |
|
Resident |
|
No.112-Block B1 Thanh Cong Wart, Ba Dinh District, Ha Noi City,
Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
118,725 |
|
|
||
|
12. NAME |
|
Ms. HA THI CHIN |
|
Resident |
|
Room 21-F4 Thuong Dinh Wart, Thanh Xuan District, Ha Noi City,
Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
79,183 |
|
|
||
|
13. NAME |
|
Mr. PHAM VIET KHOA |
|
Position |
|
Chairman cum General Director |
|
Date of Birth |
|
31 Jan 1973 |
|
ID Number/Passport |
|
012121341 |
|
Issued on |
|
25 Apr 1998 |
|
Issued Place |
|
Public Securities of Hanoi City |
|
Resident |
|
No. 524 CT4, My Dinh Urban Area, Tu Liem District, Ha Noi City,
Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
1,579,560 |
|
|
||
FINANCIAL DATA
|
||
|
|
||
|
BALANCE SHEET |
||
Unit: One VND
|
||
|
Balance sheet date |
31/12/2011 |
31/12/2010 |
|
Number of weeks |
52 |
52 |
|
ASSETS |
||
|
A – CURRENT ASSETS |
411,369,000,000 |
140,021,000,000 |
|
I. Cash and cash equivalents |
42,020,000,000 |
23,519,000,000 |
|
1. Cash |
42,020,000,000 |
23,519,000,000 |
|
2. Cash
equivalents |
0 |
0 |
|
II. Short-term investments |
24,846,000,000 |
0 |
|
1. Short-term
investments |
24,846,000,000 |
0 |
|
2. Provisions
for devaluation of short-term investments |
0 |
0 |
|
III. Accounts receivable |
196,791,000,000 |
89,172,000,000 |
|
1. Receivable
from customers |
117,858,000,000 |
88,088,000,000 |
|
2. Prepayments
to suppliers |
54,447,000,000 |
1,079,000,000 |
|
3.
Inter-company receivable |
1,472,000,000 |
0 |
|
4. Receivable
according to the progress of construction |
0 |
0 |
|
5. Other
receivable |
26,973,000,000 |
5,000,000 |
|
6. Provisions
for bad debts |
-3,959,000,000 |
0 |
|
IV. Inventories |
135,503,000,000 |
26,012,000,000 |
|
1. Inventories
|
135,503,000,000 |
26,012,000,000 |
|
2. Provisions for
devaluation of inventories |
0 |
0 |
|
V. Other Current Assets |
12,209,000,000 |
1,318,000,000 |
|
1. Short-term
prepaid expenses |
1,366,000,000 |
0 |
|
2. VAT to be
deducted |
0 |
0 |
|
3. Taxes and
other accounts receivable from the State |
25,000,000 |
0 |
|
4. Other
current assets |
10,818,000,000 |
1,318,000,000 |
|
B. LONG-TERM ASSETS |
253,275,000,000 |
167,737,000,000 |
|
I. Long term accounts receivable |
0 |
0 |
|
1. Long term
account receivable from customers |
0 |
0 |
|
2. Working
capital in affiliates |
0 |
0 |
|
3. Long-term
inter-company receivable |
0 |
0 |
|
4. Other
long-term receivable |
0 |
0 |
|
5. Provisions
for bad debts from customers |
0 |
0 |
|
II. Fixed assets |
141,141,000,000 |
84,725,000,000 |
|
1. Tangible
assets |
77,725,000,000 |
84,725,000,000 |
|
- Historical
costs |
123,336,000,000 |
116,169,000,000 |
|
- Accumulated
depreciation |
-45,611,000,000 |
-31,444,000,000 |
|
2. Financial
leasehold assets |
35,594,000,000 |
0 |
|
- Historical
costs |
38,672,000,000 |
0 |
|
- Accumulated
depreciation |
-3,078,000,000 |
0 |
|
3. Intangible
assets |
27,822,000,000 |
0 |
|
- Initial
costs |
29,447,000,000 |
0 |
|
- Accumulated
amortization |
-1,625,000,000 |
0 |
|
4. Construction-in-progress
|
0 |
0 |
|
III. Investment property |
0 |
0 |
|
Historical
costs |
0 |
0 |
|
Accumulated
depreciation |
0 |
0 |
|
IV. Long-term investments |
109,898,000,000 |
80,662,000,000 |
|
1. Investments
in affiliates |
102,898,000,000 |
0 |
|
2. Investments
in business concerns and joint ventures |
0 |
0 |
|
3. Other
long-term investments |
7,000,000,000 |
80,662,000,000 |
|
4. Provisions
for devaluation of long-term investments |
0 |
0 |
|
V. Other long-term assets |
2,236,000,000 |
2,350,000,000 |
|
1. Long-term
prepaid expenses |
1,423,000,000 |
0 |
|
2. Deferred
income tax assets |
0 |
0 |
|
3. Other
long-term assets |
813,000,000 |
2,350,000,000 |
|
VI. Goodwill |
|
0 |
|
1. Goodwill |
|
0 |
|
TOTAL ASSETS |
664,644,000,000 |
307,758,000,000 |
|
|
||
|
LIABILITIES |
||
|
A- LIABILITIES |
383,398,000,000 |
116,838,000,000 |
|
I. Current liabilities |
341,469,000,000 |
88,392,000,000 |
|
1. Short-term
debts and loans |
97,523,000,000 |
0 |
|
2. Payable to
suppliers |
197,819,000,000 |
67,105,000,000 |
|
3. Advances
from customers |
10,230,000,000 |
10,369,000,000 |
|
4. Taxes and
other obligations to the State Budget |
3,549,000,000 |
10,917,000,000 |
|
5. Payable to
employees |
5,721,000,000 |
0 |
|
6. Accrued
expenses |
0 |
0 |
|
7.
Inter-company payable |
4,101,000,000 |
0 |
|
8. Payable
according to the progress of construction contracts |
0 |
0 |
|
9. Other
payable |
22,526,000,000 |
1,000,000 |
|
10. Provisions
for short-term accounts payable |
0 |
0 |
|
11. Bonus and
welfare funds |
|
|
|
II. Long-Term Liabilities |
41,929,000,000 |
28,446,000,000 |
|
1. Long-term
accounts payable to suppliers |
0 |
0 |
|
2. Long-term inter-company
payable |
0 |
0 |
|
3. Other
long-term payable |
0 |
0 |
|
4. Long-term
debts and loans |
41,929,000,000 |
28,446,000,000 |
|
5. Deferred
income tax payable |
0 |
0 |
|
6. Provisions
for unemployment allowances |
0 |
0 |
|
7. Provisions
for long-term accounts payable |
0 |
0 |
|
8. Unearned
Revenue |
|
|
|
9. Science and
technology development fund |
|
|
|
B- OWNER’S EQUITY |
281,246,000,000 |
190,920,000,000 |
|
I. OWNER’S EQUITY |
275,484,000,000 |
187,815,000,000 |
|
1. Capital |
128,400,000,000 |
107,000,000,000 |
|
2. Share
premiums |
25,003,000,000 |
25,003,000,000 |
|
3. Other
sources of capital |
0 |
0 |
|
4. Treasury
stocks |
0 |
0 |
|
5. Differences
on asset revaluation |
0 |
0 |
|
6. Foreign exchange
differences |
0 |
-973,000,000 |
|
7. Business
promotion fund |
8,782,000,000 |
0 |
|
8. Financial
reserved fund |
0 |
0 |
|
9. Other funds
|
4,406,000,000 |
5,478,000,000 |
|
10. Retained
earnings |
108,893,000,000 |
51,307,000,000 |
|
11.
Construction investment fund |
0 |
0 |
|
12. Business
arrangement supporting fund |
|
|
|
II. Other sources and funds |
5,762,000,000 |
3,105,000,000 |
|
1. Bonus and
welfare funds (Elder form) |
5,762,000,000 |
3,105,000,000 |
|
2. Sources of expenditure
|
0 |
0 |
|
3. Fund to
form fixed assets |
0 |
0 |
|
MINORITY’S INTEREST |
0 |
0 |
|
TOTAL LIABILITIES AND OWNER’S EQUITY |
664,644,000,000 |
307,758,000,000 |
|
|
||
|
PROFIT & LOSS
STATEMENT |
||
|
|
||
|
Description |
FY2011
|
FY2010
|
|
1. Total
Sales |
906,151,000,000 |
341,838,000,000 |
|
2. Deduction
item |
0 |
0 |
|
3. Net
revenue |
906,151,000,000 |
341,838,000,000 |
|
4. Costs of
goods sold |
743,744,000,000 |
269,788,000,000 |
|
5. Gross
profit |
162,407,000,000 |
72,050,000,000 |
|
6. Financial
income |
4,719,000,000 |
291,000,000 |
|
7. Financial
expenses |
18,652,000,000 |
7,251,000,000 |
|
- In which:
Loan interest expenses |
12,621,000,000 |
7,251,000,000 |
|
8. Selling
expenses |
5,724,000,000 |
0 |
|
9.
Administrative overheads |
39,184,000,000 |
20,758,000,000 |
|
10. Net
operating profit |
103,566,000,000 |
44,332,000,000 |
|
11. Other income
|
1,347,000,000 |
5,263,000,000 |
|
12. Other
expenses |
1,267,000,000 |
4,496,000,000 |
|
13. Other
profit /(loss) |
80,000,000 |
767,000,000 |
|
14. Total
accounting profit before tax |
103,646,000,000 |
45,099,000,000 |
|
15. Current corporate
income tax |
25,911,000,000 |
11,281,000,000 |
|
16. Deferred
corporate income tax |
0 |
0 |
|
17. Interest
from subsidiaries/related companies |
0 |
0 |
|
18. Profit
after tax |
77,735,000,000 |
33,818,000,000 |
|
|
|||
|
FINANCIAL RATIOS AND AVERAGE INDUSTRY
RATIOS |
|||
|
|
|||
|
Description |
FY2011 |
FY2010 |
Average Industry |
|
Current
liquidity ratio |
1.20 |
1.58 |
1.31 |
|
Quick
liquidity ratio |
0.81 |
1.29 |
0.82 |
|
Inventory
circle |
5.49 |
10.37 |
7.07 |
|
Average
receive period |
79.27 |
95.21 |
168.66 |
|
Utilizing
asset performance |
1.36 |
1.11 |
0.96 |
|
Liability by
total assets |
57.68 |
37.96 |
71.11 |
|
Liability by
owner's equity |
136.32 |
61.20 |
360.53 |
|
Ebit / Total
assets (ROA) |
17.49 |
17.01 |
6.33 |
|
Ebit / Owner's
equity (ROE) |
41.34 |
27.42 |
27.66 |
|
Ebit / Total
revenue (NPM) |
12.83 |
15.31 |
7.97 |
|
Gross profit /
Total revenue (GPM) |
17.92 |
21.08 |
11.79 |
|
Note: The Average Industry was calculated by VietnamCredit
based on our own statistical data |
|||
|
|
|||
PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
||
|
|
||
|
Trade Morality |
|
Fair |
|
Liquidity |
|
Medium |
|
Payment status |
|
Above Average |
|
Financial
Situation |
|
Strong |
|
Development
trend |
|
Positive |
|
Litigation
data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment
Methods |
|
T/T |
|
Sale Methods |
|
To projects |
|
Public opinion
|
|
Good |
INTERPRETATION ON THE SCORES
|
|
|
|
FECON .,JSC was founded in 2004 in Hanoi city by people who worked for state owned
company - Licogi. The original chartered capital was VND 5 billion and it has
been increased to VND 138,051,620,000 up to now. The subject has been listed on Hochiminh Stock exchange
under stock code FCN since July 2012. The subject has four subsidiaries. The current head
office of the subject is located on 15th Flr CEO Building, Plot HH2-1, Pham Hung Str, Tu Liem District,
Ha Noi City, Vietnam. It leases many
rooms here for business transactions. The business of the subject focuses on
piling works, foundation testing, soft soil improvement and soil
investigation - site survey. In the first stage of investment, the subject
has production capacity of 3,000 meters long per day. The subject imports
machines and equipments from Japan, China and so on. The future
prosperity of the subject seems bright. Fecon is a good brand name in the
construction industry in Vietnam. The business activities of the subject seem
busy and it has good conditions for development. The subject has capacity to
meet the financial commitments and no caution is needed for the small-average
business transactions. |
|
INDUSTRY DATA |
||||||
|
|
||||||
|
Industry code |
Growth speed by price compared with 1994
(%) |
Total enterprises 2009 |
Total employees 2010 (Thous.pers.) |
Annual average capital of enterprises 2009 (billion
dongs) |
||
|
2011 |
2010 |
|||||
|
Agriculture, Forestry and Fishing |
4.00 |
2.78 |
8,749 |
23,896.3 |
81,559 |
|
|
Industry and Construction |
5.53 |
7.70 |
85,115 |
10,630 |
2,751,975 |
|
|
Trade and Services |
6.69 |
7.52 |
154,978 |
14,522 |
4,939,069 |
|
|
|
||||||
|
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.59.35 |
|
UK Pound |
1 |
Rs.92.11 |
|
Euro |
1 |
Rs.78.59 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.