MIRA INFORM REPORT

 

 

Report Date :

12.11.2013

 

IDENTIFICATION DETAILS

 

Name :

PROFESSIONAL INDUSTRIAL DEVICE LTD CO

 

 

Registered Office :

13 Group 35 Clusters 5 Phu Thuong Ward, Tay Ho, Hanoi

 

 

Country :

Vietnam

 

 

Date of Incorporation :

05.07.2012

 

 

Legal Form :

Private Company with Limited Liability

 

 

Line of Business :

Trader of Machinery

 

 

No. of Employees :

20

 

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 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

 

REGISTERED NAME & COMPANY SUMMARY

 

 

Company Details

 

Organization Name

:

PROFESSIONAL INDUSTRIAL DEVICE LTD CO

Address

:

13 Group 35 Clusters 5 Phu Thuong Ward, Tay Ho, Hanoi

Country

:

Vietnam

Phone (S)

:

[+84] 4-35568187

Facsimile

:

[+84] 4-35565717

Email

:

pidcoltd@pid.com

Website

:

http://www.pid.vn

Primary Business Activity

:

Trader

Key Industry

:

Machinery

 

 

Key Facts

 

Registered Legal Address

:

4 Lane 359 Au Co St, Tay Ho, Hanoi

Operational Address

:

13 Group 35 Clusters 5 Phu Thuong Ward, Tay Ho, Hanoi

Issuing Authority

:

Dept. of Planning & Investment - Hanoi

License Number

:

0102059186

License Status

:

License exists - Normal.

Legal Form - Category

:

Private Company with Limited Liability

Legal Form

:

Company

Legal Form - Abbreviation

:

CO

Operational Status of Business

:

Normal

Date of Registration

:

5 Jul, 2012

Employees

:

20

Capital

:

US$ 189,480

 

 

Report Details

 

 

 

 

 

 

Country

:

Vietnam

Business Entity Name

:

PROFESSIONAL INDUSTRIAL DEVICE LTD CO

Acronym

:

PID

Primary Business Activity

:

Trader

Primary Industry

:

Machinery

Office Contact Details

Operating Address

:

13 Group 35 Clusters 5 Phu Thuong Ward, Tay Ho, Hanoi

Tel

:

[+84] 4-35568187

Fax

:

[+84] 4-35565717

Email

:

pidcoltd@pid.com

Website Details

Website

:

http://www.pid.vn

Status

:

Normal - operational

Country of Registration

:

Vietnam

Ownership Type

:

Registered ownership by Subject Business Entity

 

 

 

DIRECTORS/MANAGEMENT

 

 

COMPANY MANAGEMENT

 

 

 

Management Listings

 

 

Name

Nationality

Job Description

Dept. / Division

1

Mr. Mai Xuan Quyet

Vietnamese

Vice Director

-

 

 

Management Details - 1

Personal Unique Identifier

:

MI02818699

Name

:

Mr. Mai Xuan Quyet

 

Date of Birth

:

1984

 

 

LOCAL BRANCHES & MANAGEMENT

 

 

 

Branch

:

PROFESSIONAL INDUSTRIAL DEVICE LTD CO - DISTRICT 8, HO CHI MINH

Branch Address

:

125/150 Ta Quang Buu Ward 2, District 8, Ho Chi Minh

Branch Tel

:

84-8-9830550

Branch Fax

:

84-8-9830516

 

 

COMPANY DIRECTORS

 

1

 

 

Personal Unique Identifier

:

MI02818697

Name

:

Mr. Nguyen Khac Vinh

Date of Birth

:

1975

Nationality

:

Vietnamese

 

 

NEGATIVE INFORMATION

 

 

NEGA-SCAN - ADVERSE DATA MONITORING

 

 

 

 

DISHONORED CHECKS

 

No Record Found

 

 

DEBT

 

No Record Found

 

 

LITIGATION

 

No Record Found

 

 

PERFORMANCE DEFAULTS

 

No Record Found

 

 

ADVERSE LOCAL MEDIA COVERAGE / ADVERSE FILING HISTORY

 

No Record Found

 

 

 

 

SHARE & SHARE CAPITAL INFORMATION

 

 

CAPITAL (Currency: VND - Vietnam Dong)

 

Authorized Capital

:

4,000,000,000

 

 

SHAREHOLDERS

 

 

Total number of shareholders

:

2

Total number of shares

:

n/a

 

Currency

:

VND - Vietnam Dong

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

Mr. Nguyen Khac Vinh

Vietnam

n/a

n/a

70.00

2

Ms. Nguyen Thi Thu Minh

Vietnam

n/a

n/a

30.00

Total

n/a

n/a

100.00

 

Today's Exchange rate

:

1.00 VND
Vietnam Dong

=

0.000047 USD
United States Dollars

 

Based on corporate statutory laws / regulations in Vietnam, there is no requirement for public disclosure of Shareholders. In this case, the Shareholders information was supplied by the Subject Business Entity.
However in the absence of data normally obtained from local Statutory Authorities, it is not possible to verify the accuracy of data supplied and hence is provided as reference ONLY.

 

 

PAYMENT INFORMATION

 

 

Supplementary Business

 

In addition to the core business, PROFESSIONAL INDUSTRIAL DEVICE LTD CO also is engaged in the following areas of business:

Importing

Importing - Finished products

 

 

DOMESTIC SALES & PURCHASES

 

 

 

Annual Sales Analysis

Percentage

Domestic Sales

100%

International Sales (Export)

0%

 

 

 

 

Annual Purchases Analysis

Percentage

Local Purchases

60%

Imports

40%

 

 

 

PAYMENT TERMS

 

 

 

Selling

 

Type

Terms

Local

Cash on delivery (COD)

Credit - Secured with Post-dated checks 30~60 days

 

 

 

Purchasing

 

Type

Terms

Local

Cash on delivery (COD)

Credit - Secured with Post-dated checks 30~60 days

Import

Letter of Credit (At-sight)

Telegraphic Transfer (T/T) - Executed at time of transaction

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

N/a

 

 

FINANCIAL INFORMATION

 

 

FINANCIAL STATEMENT - DETAILED

 

 

 

 

Based on the corporate laws of Vietnam, legal entities which are Private Company with Limited Liability are not required to make public disclosure of their annual financials. Therefore no financials are available for this entity.

 

 

FOREIGN EXCHANGE RATES

 

Today's Exchange rate

:

1.00 VND
Vietnam Dong

=

0.000047 USD
United States Dollars

 

 

ADDITIONAL INFORMATION

 

 

 

Primary Products

Products / Materials / Services Description

Activity

Power transmission equipment

Importing, Trading

Water equipment

Importing, Trading

 

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Product/Service Description

Code

Activity

General industrial machinery and equipment, and parts, nspf

3569

Importing, Trading

Industrial Machinery & Equipment

3500

Importing, Trading

Industrial Machinery/Equip

5084

Importing, Trading

Mechanical power transmission equipment, nspf, and parts, nspf

3568

Importing, Trading

 

 

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Product/Service Description

Code

Activity

Machines etc having individual functions nesoi, parts

8479

Importing, Trading

 

 

CORE BUSINESS DESCRIPTION

 

 

 

Core Business

 

The primary business focus of PROFESSIONAL INDUSTRIAL DEVICE LTD CO is Trading - Finished products.

Key products include :

Power transmission equipment

Water equipment

 

 

 

 

REPUTATION

 

 

 

Reference checking for the purpose of establishing the PROFESSIONAL INDUSTRIAL DEVICE LTD CO's reputation within the respective industry failed to reveal any adverse information.

 

 

BANK DETAILS

 

 

 

Bank Name

:

MILITARY COMMERCIAL JOINT STOCK BANK

Global Identifier

:

P0387295

Branch

:

Dong Da,Hanoi

Branch Address

:

MILITARY COMMERCIAL JOINT STOCK BANK - HANOI

SWIFT Code

:

MSCBVNVX

 

 

 

INTERNATIONAL TRADE - Activity & Markets

 

 

 

 

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing

Europe

Medium

Importing

Australia

Medium

Importing

China

Medium

Importing

Germany

Medium

Importing

Italy

Medium

Importing

Korea, South (Republic of Korea)

Medium

Importing

 

 

 

 

OFFICE & FACILITIES

 

 

 

Name

:

PROFESSIONAL INDUSTRIAL DEVICE LTD CO - TAY HO, HANOI

Address

:

13 Group 35 Clusters 5 Phu Thuong Ward, Tay Ho, Hanoi

Country

:

Vietnam

Status

:

Operational

 

 

 

 

PREVIOUS CONTACT DETAILS

 

 

 

Company Address

:

6 Lane 107 Tran Duy Hung St Trung Hoa Ward, Cau Giay Dist, Hanoi

 

Company Address

:

23 Lane 11/18 To Ngoc Van Quang An Ward, Tay Ho, Hanoi

Phone Number

:

84-4-37185909

Fax Number

:

84-4-37196849

 

 

 

 

PREVIOUS BUSINESS LICENSE/S

 

 

 

License Date

License No.

30 Oct, 2006

0102028673

 

 

 

NOTES & COMMENTS

 

N/a

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.30

UK Pound

1

Rs.101.36

Euro

1

Rs.84.60

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.