MIRA INFORM REPORT
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Report Date : |
07.10.2013 |
IDENTIFICATION DETAILS
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Name : |
DUC LONG INTERNATIONAL IMPORT & EXPORT CO
LTD |
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Registered Office : |
131 Nguyen Du St Hoa Binh Area Hoa Lac Precint, Mong Cai, Quang Ninh |
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Country : |
Vietnam |
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Date of Incorporation : |
26.03.2012 |
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Legal Form : |
Private Company with Limited Liability |
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Line of Business : |
Trader of Agricultural Products such as Beans, Chili, Grains, Peanuts,
Sesame |
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No. of Employees : |
06 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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) |
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Vietnam |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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%.
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Source : CIA |
REGISTERED NAME & COMPANY SUMMARY
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Organization Name |
: |
DUC LONG INTERNATIONAL IMPORT & EXPORT CO LTD |
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Address |
: |
131 Nguyen Du St Hoa Binh Area Hoa Lac Precint, Mong Cai, Quang Ninh |
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Country |
: |
Vietnam |
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Phone (S) |
: |
[+84] 33-3770944 |
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Facsimile |
: |
[+84] 33-3772047 |
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Primary Business Activity |
: |
Trader |
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Key Industry |
: |
Agricultural Products |
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Registered Legal Address |
: |
131 Nguyen Du St Hoa Binh Area Hoa Lac Precint, Mong Cai, Quang Ninh |
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Operational Address |
: |
131 Nguyen Du St Hoa Binh Area Hoa Lac Precint, Mong Cai, Quang Ninh |
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Issuing Authority |
: |
Dept. of Planning & Investment - Quang Ninh |
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License Number |
: |
5701602241 |
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License Status |
: |
License exists - Normal. |
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Legal Form - Category |
: |
Private Company with Limited Liability |
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Legal Form |
: |
Company Limited |
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Legal Form - Abbreviation |
: |
CO LTD |
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Operational Status of Business |
: |
Normal |
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Date of Registration |
: |
26 Mar, 2012 |
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Employees |
: |
6 |
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Capital |
: |
US$ 104,214 |
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Note |
: |
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Country |
: |
Vietnam |
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Business Entity Name |
: |
DUC LONG INTERNATIONAL IMPORT & EXPORT CO LTD |
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Primary Business Activity |
: |
Trader |
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Primary Industry |
: |
Agricultural Products |
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Office Contact Details |
||
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Operating Address |
: |
131 Nguyen Du St Hoa Binh Area Hoa Lac Precint, Mong Cai, Quang Ninh |
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Tel |
: |
[+84] 33-3770944 |
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Fax |
: |
[+84] 33-3772047 |
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Tax / VAT Details |
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Tax Issuing Authority |
: |
Ministry of Finance |
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Local Name Used |
: |
Gia Trj Gia Tang (Value Added Tax) |
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Acronym |
: |
GTGT / VAT |
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GTGT / VAT Number |
: |
5701602241 |
DIRECTORS/MANAGEMENT
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COMPANY MANAGEMENT |
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Management Listings |
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Management Details - 1 |
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COMPANY DIRECTORS |
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NEGATIVE INFORMATION
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REPUTATION |
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Due to the recent incorporation of the DUC LONG INTERNATIONAL IMPORT
& EXPORT CO LTD, and the relatively small nature of its business, no
meaningful points of reference in terms of reputation within the respective
industry was possible. |
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NEGA-SCAN - ADVERSE DATA
MONITORING |
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SHARE & SHARE CAPITAL INFORMATION
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CAPITAL (Currency: VND - Vietnam Dong) |
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SHAREHOLDERS
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Total number of shareholders |
: |
3 |
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Total number of shares |
: |
n/a |
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Currency |
: |
VND - Vietnam Dong |
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No. |
Shareholders |
Country |
Shares |
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Number |
Amount (VND) |
% |
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1 |
Ms. Nguyen Thi Tu Anh |
Vietnam |
n/a |
n/a |
45.00 |
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2 |
Ms. Pham Thi Thuy |
Vietnam |
n/a |
n/a |
32.00 |
|
3 |
Mr. Pham Van Luan |
Vietnam |
n/a |
n/a |
23.00 |
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Total |
n/a |
n/a |
100.00 |
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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
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DOMESTIC SALES &
PURCHASES |
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PAYMENT TERMS |
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Selling |
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Purchasing |
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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
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Today's Exchange rate |
: |
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ADDITIONAL INFORMATION
Primary Products
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Products / Materials / Services Description |
Activity |
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Beans |
Trading |
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Chili |
Trading |
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Grains |
Trading |
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Peanuts |
Trading |
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Sesame |
Trading |
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SIC PRODUCT CLASSIFICATION & ACTIVITY |
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HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY |
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CORE BUSINESS DESCRIPTION |
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Core Business |
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The primary business focus of DUC LONG INTERNATIONAL IMPORT &
EXPORT CO LTD is Trading - Finished products. Beans Chili Grains Peanuts Sesame |
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Supplementary Business |
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In addition to the core business, DUC LONG INTERNATIONAL IMPORT &
EXPORT CO LTD also is engaged in the following areas of business: Exporting Exporting - Finished products Importing Importing - Finished products |
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BANK DETAILS |
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INTERNATIONAL TRADE - Activity & Markets |
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OFFICE & FACILITIES |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.41 |
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UK Pound |
1 |
Rs.99.29 |
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Euro |
1 |
Rs.83.68 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.