|
Report Date : |
25.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
CANTHO SUGAR JOINT STOCK COMPANY |
|
|
|
|
Registered Office : |
No. 1284 Tran Hung Dao Str - Area 1- Ward 7, Vi Thanh City, Hau Giang Province |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
30.09.2012 |
|
|
|
|
Year of Incorporation : |
1995 |
|
|
|
|
Com. Reg. No.: |
1800283278 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and trading in sugar, planting sugar canes. |
|
|
|
|
No. of Employees : |
900 |
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 : |
Usually 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
|
||
|
|
||
Current legal status
|
||
|
Registered English Name |
|
CANTHO SUGAR JOINT STOCK COMPANY |
|
Registered Vietnamese Name |
|
CONG TY CO PHAN MIA DUONG CAN THO |
|
Registered Short name |
|
CASUCO |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
1995 |
|
Establishment Decision |
|
No. 2232/QD.CT.HC.95 |
|
Business Registration No. |
|
1800283278 |
|
Date of latest adjustment (11th)
|
|
03 Jul 2012 |
|
Place of Registration |
|
Bussiness Registration Office - Planning and
Investment Department Of Hau Giang Province |
|
Chartered capital |
|
VND 130,805,470,000 |
|
Tax code |
|
1800283278 |
|
Total Employees |
|
900 |
Historical Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Chartered capital:
VND 80,397,800,000 Changed to: VND 90,847,200,000 issued on 29 Mar 2011 Changed to: VND 130,805,470,000 |
03
Jul 2012 |
|
2 |
Subject has got former Business
Registration No: 64030000018 issued on 29 Apr 2005 Changed to: 1800283278 |
29
Mar 2011 |
|
3 |
Subject has got former Registered English
Name: CANTHO SUGAR COMPANY Changed to: CANTHO SUGAR JOINT STOCK
COMPANY |
29
Apr 2005 |
|
|
||
ADDRESSES
|
||
|
|
||
|
Head Office |
||
|
Address |
|
No. 1284 Tran Hung Dao Str - Area 1- Ward
7, Vi Thanh City, Hau Giang Province, Vietnam |
|
Telephone |
|
(84 711) 387 9607 - 387 9029 |
|
Fax |
|
(84 711) 387 9607 |
|
Email |
|
|
|
Website |
|
|
|
|
||
|
Branch in Can
Tho |
||
|
Address |
|
No. 104 30/4 Str - An Phu Ward, Ninh Kieu
District, Can Tho City, Vietnam |
|
Telephone |
|
(84 710) 3825558 - 3811955 |
|
Email |
|
|
|
Website |
|
|
|
|
||
|
Branch in An
Giang |
||
|
Address |
|
No. 278/4, Quater 6 Ly Thai To Street, My
Long Ward, Long Xuyen City, An Giang Province, Vietnam |
|
|
||
|
Branch in Hau
Giang |
||
|
Address |
|
10, Road 1/5, Area 5 Hiep Thanh Ward, Nga Bay
(Tan Hiep cu) District, Hau Giang Province, Vietnam |
|
|
||
DIRECTORS
|
||
|
|
||
|
1.
NAME |
|
Mr.
NGUYEN THANH LONG |
|
Position |
|
General Director |
|
Date of Birth |
|
09 Oct 1956 |
|
ID Number/Passport |
|
360026081 |
|
Issued date |
|
13 May 2004 |
|
Issued place |
|
Police Station of Can
Tho Province |
|
Current resident |
|
No. 29/12 30/4 Str - Hung Loi Ward, Ninh
Kieu District, Can Tho City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobile phone |
|
091 3 974 707 |
|
|
||
|
2.
NAME |
|
Ms.
VO THI KIM DUNG |
|
Position |
|
Deputy General Director |
|
ID Number/Passport |
|
361679367 |
|
Current resident |
|
No. 34 Vo Thi Sau Str, Ninh Kieu District,
Can Tho City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobile phone |
|
+84 983 816 916 |
|
|
||
|
3.
NAME |
|
Mr.
PHAM QUANG VINH |
|
Position |
|
Deputy General Director |
|
ID Number/Passport |
|
361476914 |
|
Resident |
|
178/44/8, Road 3/2, Hung Loi Ward, Ninh Kieu
District, Can Tho Province, Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobile phone |
|
091 3 760 285 |
|
|
||
|
4.
NAME |
|
Mr.
NGUYEN HOANG NGOAN |
|
Position |
|
Deputy General Director |
|
Nationality |
|
Vietnamese |
|
|
||
BUSINESS NATURE AND ACTIVITIES
|
|
|
|
- Manufacturing and trading in sugar, planting
sugar canes. |
|
|
IMPORT & EXPORT ACTIVITIES
|
||
|
|
||
|
IMPORT: |
||
|
·
Types of products |
|
Materials, production lines |
|
·
Market |
|
EU, India, China. |
|
|
||
|
EXPORT: |
||
|
·
Types of products |
|
N/A |
|
|
||
BANKERS
|
||
|
|
||
|
1.
BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM HAU GIANG BRANCH |
||
|
Address |
|
No.45 Phu Loi, Tan Phu Thanh Commune, Chau Thanh District, Hau Giang
Province, Vietnam |
|
Telephone |
|
(84-711) 3848 285 |
|
|
||
|
2.
LIEN VIET POST JOINT STOCK COMMERCIAL BANK |
||
|
Address |
|
No. 109 Tran Hung Dao Street, Cua Nam Ward, Hoan Kiem District, Ha Noi
City, Vietnam |
|
Telephone |
|
(84-4) 6266 8668 |
|
Fax |
|
(84-4) 3573 8245 |
|
|
||
SHAREHOLDERS
|
||
|
|
||
|
1.
NAME |
|
Mr.
NGUYEN THANH LONG |
|
Position |
|
General Director |
|
Date of Birth |
|
09 Oct 1956 |
|
ID Number/Passport |
|
360026081 |
|
Issued date |
|
13 May 2004 |
|
Current Resident |
|
No. 29/12 30/4 Str - Hung Loi Ward, Ninh Kieu
District, Can Tho City, Vietnam |
|
Mobile phone |
|
091 3 974 707 |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 11,119,750,000 |
|
Percentage |
|
8.5% |
|
|
||
|
2.
NAME |
|
Ms.
VO THI KIM DUNG |
|
Position |
|
Deputy General Director |
|
ID Number/Passport |
|
361679367 |
|
Current Resident |
|
No. 34 Vo Thi Sau Str, Ninh Kieu District,
Can Tho City, Vietnam |
|
Mobile phone |
|
098 3 816 916 |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 4,768,490,000 |
|
Percentage |
|
3.65% |
|
|
||
|
3.
NAME |
|
Mr.
PHAM QUANG VINH |
|
Position |
|
Deputy General Director |
|
ID Number/Passport |
|
361476914 |
|
Resident |
|
178/44/8, Road 3/2, Hung Loi Ward, Ninh Kieu
District, Can Tho Province, Vietnam |
|
Mobile phone |
|
+84 913 760 285 |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 3,551,760,000 |
|
Percentage |
|
2.72% |
|
|
||
|
4.
NAME |
|
Ms.
TRAN THI THAI |
|
ID Number/Passport |
|
021895781 |
|
Resident |
|
48, Tran Chanh Chieu Street, Ward 14,
District 5, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 7,696,020,000 |
|
Percentage |
|
3.62% |
|
|
||
|
5.
NAME |
|
Ms.
NGUYEN THANH NHAN |
|
ID Number/Passport |
|
025123319 |
|
Resident |
|
25, Road 48B, Tan Tao Ward, Binh Tan
District, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 4,740,710,000 |
|
Percentage |
|
3.62% |
|
|
||
|
6.
NAME |
|
The
State |
|
Value of shares |
|
VND 36,091,920,000 |
|
Percentage |
|
27.59% |
|
|
||
|
7.
NAME |
|
Other
Shareholders |
|
Value of shares |
|
VND 62,836,820,000 |
|
Percentage |
|
48.04% |
|
|
||
FINANCIAL DATA
|
|||
|
|
|||
|
BALANCE
SHEET |
|||
Unit: One
VND
|
|||
|
Balance sheet
date |
30/09/2012 |
31/12/2011 |
31/12/2010 |
|
Number of weeks |
39 |
52 |
52 |
ASSETS
|
|||
|
A – CURRENT
ASSETS |
283,282,726,135 |
313,013,030,363 |
456,652,670,259 |
|
I. Cash and cash
equivalents |
10,791,916,694 |
24,798,743,207 |
138,681,236,674 |
|
1. Cash |
10,791,916,694 |
24,798,743,207 |
132,481,236,674 |
|
2. Cash equivalents |
|
|
6,200,000,000 |
|
II. Short-term
investments |
30,600,000,000 |
100,000,000 |
100,000,000 |
|
1. Short-term investments |
30,600,000,000 |
100,000,000 |
100,000,000 |
|
2. Provisions for devaluation of short-term investments |
|
|
0 |
|
III. Accounts
receivable |
57,817,009,333 |
60,743,663,823 |
79,412,466,527 |
|
1. Receivable from customers |
16,911,546,702 |
19,396,728,780 |
19,625,145,928 |
|
2. Prepayments to suppliers |
23,167,021,124 |
22,192,883,732 |
38,632,530,755 |
|
3. Inter-company receivable |
|
|
0 |
|
4. Receivable according to the progress of construction |
|
|
0 |
|
5. Other receivable |
18,118,911,026 |
19,534,520,830 |
21,413,287,181 |
|
6. Provisions for bad debts |
-380,469,519 |
-380,469,519 |
-258,497,337 |
|
IV. Inventories |
159,610,343,940 |
207,280,896,110 |
224,554,243,686 |
|
1. Inventories |
159,610,343,940 |
207,280,896,110 |
224,593,006,136 |
|
2. Provisions for devaluation of inventories |
|
|
-38,762,450 |
|
V. Other Current
Assets |
24,463,456,168 |
20,089,727,223 |
13,904,723,372 |
|
1. Short-term prepaid expenses |
5,488,990,077 |
3,432,094,940 |
617,870,313 |
|
2. VAT to be deducted |
|
|
14,211,087 |
|
3. Taxes and other accounts receivable from the State |
|
|
32,639,241 |
|
4. Other current assets |
18,974,466,091 |
16,657,632,283 |
13,240,002,731 |
|
B. LONG-TERM
ASSETS |
381,045,985,193 |
364,316,536,609 |
280,015,553,224 |
|
I. Long term
accounts receivable |
0 |
0 |
0 |
|
1. Long term account receivable from customers |
|
|
0 |
|
2. Working capital in affiliates |
|
|
0 |
|
3. Long-term inter-company receivable |
|
|
0 |
|
4. Other long-term receivable |
|
|
0 |
|
5. Provisions for bad debts from customers |
|
|
0 |
|
II. Fixed assets
|
310,019,706,801 |
293,342,258,217 |
260,242,360,490 |
|
1. Tangible assets |
232,398,559,857 |
198,771,399,029 |
164,257,843,290 |
|
- Historical costs |
665,521,545,899 |
622,633,925,886 |
526,121,892,825 |
|
- Accumulated depreciation |
-433,122,986,042 |
-423,862,526,857 |
-361,864,049,535 |
|
2. Financial leasehold assets |
0 |
0 |
0 |
|
- Historical costs |
|
|
0 |
|
- Accumulated depreciation |
|
|
0 |
|
3. Intangible assets |
46,029,826,962 |
46,065,884,576 |
43,172,330,768 |
|
- Initial costs |
66,417,036,996 |
65,815,710,648 |
58,899,977,477 |
|
- Accumulated amortization |
-20,387,210,034 |
-19,749,826,072 |
-15,727,646,709 |
|
4. Construction-in-progress |
31,591,319,982 |
48,504,974,612 |
52,812,186,432 |
|
III. Investment
property |
0 |
0 |
0 |
|
Historical costs |
|
|
0 |
|
Accumulated depreciation |
|
|
0 |
|
IV. Long-term
investments |
70,337,662,133 |
70,337,662,133 |
15,490,562,133 |
|
1. Investments in affiliates |
19,035,500,000 |
19,035,500,000 |
0 |
|
2. Investments in business concerns and joint ventures |
32,619,600,000 |
32,619,600,000 |
12,000,000,000 |
|
3. Other long-term investments |
20,832,000,000 |
20,832,000,000 |
5,640,000,000 |
|
4. Provisions for devaluation of long-term investments |
-2,149,437,867 |
-2,149,437,867 |
-2,149,437,867 |
|
V. Other
long-term assets |
688,616,259 |
636,616,259 |
1,764,144,916 |
|
1. Long-term prepaid expenses |
|
|
1,163,283,961 |
|
2. Deferred income tax assets |
636,616,259 |
636,616,259 |
600,860,955 |
|
3. Other long-term assets |
52,000,000 |
|
0 |
|
VI. Goodwill |
0 |
0 |
2,518,485,685 |
|
1. Goodwill |
|
|
2,518,485,685 |
|
TOTAL ASSETS |
664,328,711,328 |
677,329,566,972 |
736,668,223,483 |
|
|
|||
LIABILITIES
|
|||
|
A- LIABILITIES |
326,781,802,457 |
347,287,907,024 |
457,320,594,923 |
|
I. Current
liabilities |
179,509,442,020 |
199,915,121,277 |
304,971,319,692 |
|
1. Short-term debts and loans |
56,718,792,881 |
70,918,792,881 |
139,860,385,766 |
|
2. Payable to suppliers |
8,833,409,778 |
7,487,153,921 |
11,353,321,147 |
|
3. Advances from customers |
40,059,648,666 |
13,989,838,285 |
112,404,124,407 |
|
4. Taxes and other obligations to the State Budget |
27,473,539,564 |
30,903,695,277 |
14,429,193,824 |
|
5. Payable to employees |
13,730,420,407 |
28,721,040,701 |
14,270,207,993 |
|
6. Accrued expenses |
9,880,232,372 |
6,568,352,418 |
4,326,306,158 |
|
7. Inter-company payable |
|
|
32,639,241 |
|
8. Payable according to the progress of construction contracts |
|
|
0 |
|
9. Other payable |
6,566,598,906 |
22,464,295,807 |
8,295,141,156 |
|
10. Provisions for short-term accounts payable |
|
|
0 |
|
11. Bonus and welfare funds |
16,246,799,446 |
18,861,951,987 |
|
|
II. Long-Term
Liabilities |
147,272,360,437 |
147,372,785,747 |
152,349,275,231 |
|
1. Long-term accounts payable to suppliers |
|
|
0 |
|
2. Long-term inter-company payable |
|
|
0 |
|
3. Other long-term payable |
|
|
2,098,905,000 |
|
4. Long-term debts and loans |
107,143,307,187 |
107,177,507,187 |
124,906,820,503 |
|
5. Deferred income tax payable |
|
|
7,388,889 |
|
6. Provisions for unemployment allowances |
3,374,547,909 |
3,440,773,219 |
3,634,465,481 |
|
7. Provisions for long-term accounts payable |
|
|
21,701,695,358 |
|
8. Unearned Revenue |
36,754,505,341 |
36,754,505,341 |
|
|
9. Science and technology development fund |
|
|
|
|
B- OWNER’S
EQUITY |
337,546,908,871 |
330,041,659,948 |
271,985,051,291 |
|
I. OWNER’S
EQUITY |
337,546,908,871 |
330,041,659,948 |
270,549,315,874 |
|
1. Capital |
130,805,470,000 |
130,805,470,000 |
90,847,200,000 |
|
2. Share premiums |
|
|
0 |
|
3. Other sources of capital |
|
|
45,251 |
|
4. Treasury stocks |
-38,400,000 |
-37,000,000 |
-30,000,000 |
|
5. Differences on asset revaluation |
|
|
0 |
|
6. Foreign exchange differences |
|
|
0 |
|
7. Business promotion fund |
99,299,050,587 |
99,299,050,587 |
32,733,034,496 |
|
8. Financial reserved fund |
32,754,284,450 |
32,754,284,450 |
26,011,549,460 |
|
9. Other funds |
|
|
0 |
|
10. Retained earnings |
74,726,503,834 |
67,219,854,911 |
120,987,486,667 |
|
11. Construction investment fund |
|
|
0 |
|
12. Business arrangement supporting fund |
|
|
|
|
II. Other
sources and funds |
0 |
0 |
1,435,735,417 |
|
1. Bonus and welfare funds (Elder form) |
|
|
1,435,735,417 |
|
2. Sources of expenditure |
|
|
0 |
|
3. Fund to form fixed assets |
|
|
0 |
|
MINORITY’S
INTEREST |
|
|
7,362,577,269 |
|
TOTAL
LIABILITIES AND OWNER’S EQUITY |
664,328,711,328 |
677,329,566,972 |
736,668,223,483 |
|
|
|||
|
PROFIT
& LOSS STATEMENT |
|||
|
|
|||
|
Description |
QIII/FY2012 |
FY2011 |
FY2010 |
|
1. Total Sales |
247,753,188,054 |
1,699,441,224,919
|
1,148,554,197,652
|
|
2. Deduction item |
|
|
647,592,569 |
|
3. Net revenue |
247,753,188,054 |
1,699,441,224,919
|
1,147,906,605,083
|
|
4. Costs of goods sold |
230,507,821,757 |
1,467,236,852,124 |
950,324,660,797 |
|
5. Gross profit |
17,245,366,297 |
232,204,372,795 |
197,581,944,286 |
|
6. Financial income |
946,266,585 |
9,230,092,008 |
9,901,124,067 |
|
7. Financial expenses |
1,240,256,639 |
24,284,489,957 |
14,377,865,126 |
|
- In which: Loan interest expenses |
1,240,256,639 |
24,284,489,957 |
12,228,427,259 |
|
8. Selling expenses |
4,039,547,132 |
14,541,453,240 |
15,719,303,259 |
|
9. Administrative overheads |
5,974,288,210 |
63,211,926,164 |
56,421,728,634 |
|
10. Net operating profit |
6,937,540,901 |
139,396,595,442 |
120,964,171,334 |
|
11. Other income |
572,108,022 |
7,504,712,770 |
8,757,570,514 |
|
12. Other expenses |
3,000,000 |
1,931,802,542 |
121,809,227 |
|
13. Other profit /(loss) |
569,108,022 |
5,572,910,228 |
8,635,761,287 |
|
14. Total accounting profit before tax |
7,506,648,923 |
144,969,505,670 |
129,599,932,621 |
|
15. Current corporate income tax |
|
10,114,805,867 |
12,812,626,692 |
|
16. Deferred corporate income tax |
|
|
27,763,328 |
|
17. Interest from subsidiaries/related companies |
|
|
0 |
|
18. Profit after tax |
7,506,648,923 |
134,854,699,803 |
116,759,542,601 |
|
|
|||
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
|||
|
|
|||
|
Description |
FY2011 |
FY2010 |
Average Industry |
|
Current liquidity ratio |
1.57 |
1.50 |
1.70 |
|
Quick liquidity ratio |
0.53 |
0.76 |
1.05 |
|
Inventory circle |
7.08 |
5.68 |
7.68 |
|
Average receive period |
13.05 |
25.25 |
37.77 |
|
Utilizing asset performance |
2.51 |
1.56 |
1.72 |
|
Liability by total assets |
51.27 |
62.08 |
51.74 |
|
Liability by owner's equity |
105.23 |
169.03 |
145.40 |
|
Ebit / Total assets (ROA) |
24.99 |
19.25 |
14.18 |
|
Ebit / Owner's equity (ROE) |
51.28 |
52.42 |
31.73 |
|
Ebit / Total revenue (NPM) |
9.96 |
12.35 |
10.11 |
|
Gross profit / Total revenue (GPM) |
13.66 |
17.20 |
20.29 |
|
Note: The Average Industry was calculated by VietnamCredit based on our own
statistical data |
|||
|
|
|||
PAYMENT HISTORY &
PERFORMANCE EXPERIENCES
|
||
|
|
||
|
Trade Morality |
|
Normal |
|
Liquidity |
|
Medium |
|
Payment status |
|
Above average |
|
Financial Situation |
|
Above Average |
|
Development trend |
|
Positive |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
L/C, T/T |
|
Sale Methods |
|
Wholesaler |
|
|
INTERPRETATION ON THE SCORES
|
|
|
|
Established since 1995 according to decision No.
2232/QD.CT.HC.95, CASUCO was a state owned company; then in 2005, subject was
equitized and it has new business registration No. 64030000018 granted by
Planning and Investment Department of Hau Giang Province. In 2011, the
registration of it has changed to No. 1800283278, like the tax code. Subject has head office at No.
1284 Tran Hung Dao Str - Area 1- Ward 7, Vi Thanh City, Hau Giang Province,
Vietnam.
The main activities of the subject are manufacturing and trading sugar,
planting sugar canes. Currently, subject has large material area in local
area for production so the input of subject has not difficulty. Subject only
imports productions lines from EU, India, China, and it does not have export
activities. The financial situation of the subject in the
recent years is very stable. Revenue and profit were increased regularly.
Going to detail, revenue of subject in 2011 attained VND 1,699 billion, up to
48% in 2010; and profit before tax reached VND 135 billion, up 15%. By the
end of quarter III in 2012, revenue was VND 248 billion and profit was VND 7
billion. In general, the financial situation of the subject is positive. The financial ratios are accepted. The market share of it is stable. Now, the position of the subject in the industry is good, too. No caution needed for the small and medium business 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) |
||
|
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.54.33 |
|
|
1 |
Rs.82.56 |
|
Euro |
1 |
Rs.70.10 |
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.