MIRA INFORM REPORT

 

 

Report Date :

08.10.2013

 

IDENTIFICATION DETAILS

 

Name :

UCC TRADING CO LTD

 

 

Registered Office :

10/3 Phan Dinh Giot St Ward 2, Tan Binh Dist, Ho Chi Minh

 

 

Country :

Vietnam

 

 

Financials (as on) :

December 2012

 

 

Date of Incorporation :

24.06.2002

 

 

Legal Form :

Company Limited

 

 

Line of Business :

Importer of Chemicals.

 

 

No. of Employees :

25

 

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 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

 

Organization Name

:

UCC TRADING CO LTD

Address

:

10/3 Phan Dinh Giot St Ward 2, Tan Binh Dist, Ho Chi Minh

Country

:

Vietnam

Phone (S)

:

[+84] 8-38477655

Facsimile

:

[+84] 8-39975666

Email

:

ucc@hcm.vnn.vn

Website

:

http://www.unichemcolor.com

Primary Business Activity

:

Importer

Key Industry

:

Chemicals

 

Registered Legal Address

:

10/3 Phan Dinh Giot St Ward 2, Tan Binh Dist, Ho Chi Minh

Operational Address

:

10/3 Phan Dinh Giot St Ward 2, Tan Binh Dist, Ho Chi Minh

Trading Name

:

 

Name History

:

 

Issuing Authority

:

Dept. of Planning & Investment - Ho Chi Minh

License Number

:

4102010445

License Status

:

License exists – Normal.

Legal Form - Category

:

Private Company with Limited Liability

Legal Form

:

Company Limited

Legal Form - Abbreviation

:

CO LTD

Operational Status of Business

:

Normal

Date of Registration

:

24 Jun, 2002

Employees

:

25

Capital

:

US$ 142,110

Note

:

 

DIRECTORS/MANAGEMENT

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Ms. Le Xuan Hanh

Vietnamese

Vice Director

-

2

Ms. Pham Thi Minh Hien

Vietnamese

Chief Accountant

-

 

 

Management Details - 1

Personal Unique Identifier

:

MI03540162

Name

:

Ms. Le Xuan Hanh

 

Date of Birth

:

1962

 

Management Details - 2

Personal Unique Identifier

:

MI03540166

Name

:

Ms. Pham Thi Minh Hien

 

Date of Birth

:

1958

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03540098

Name

:

Ms. Nguyen Thi An

Date of Birth

:

1942

Nationality

:

Vietnamese

 

 

NEGATIVE INFORMATION

 

REPUTATION

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

 

 

NEGA-SCAN - ADVERSE DATA MONITORING

 

 

 

 

DISHONORED CHECKS

 

No Record Found

 

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DEBT

 

No Record Found

 

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LITIGATION

 

No Record Found

 

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PERFORMANCE DEFAULTS

 

No Record Found

 

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ADVERSE LOCAL MEDIA COVERAGE / ADVERSE FILING HISTORY

 

No Record Found

 

http://www.asiancredit.com/Manage/Image/space.gif

 

 

SHARE & SHARE CAPITAL INFORMATION

 

CAPITAL (Currency: VND - Vietnam Dong)

Authorized Capital

:

3,000,000,000

 

 

SHAREHOLDERS

 

Total number of shareholders

:

3

Total number of shares

:

n/a

 

Currency

:

VND - Vietnam Dong

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

Ms. Le Xuan Hanh

Vietnam

n/a

n/a

66.67

2

Ms. Nguyen Thi An

Vietnam

n/a

n/a

26.67

3

Mr. Nguyen Le Van

Vietnam

n/a

n/a

6.66

Total

n/a

n/a

100.00

 

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

 

DOMESTIC SALES & PURCHASES

Annual Sales Analysis

Percentage

Domestic Sales

100%

 

 

Annual Purchases Analysis

Percentage

Local Purchases

10%

Imports

90%

 

 

PAYMENT TERMS

Selling

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~60 days

 

Purchasing

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 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

 

Financials - Summary  (Currency: USD - US Dollar)

Year

Sales

Assets

Net Income

2010 Annual  

2,786,916

769,369

35,557

2011 Annual  

2,878,012

732,213

35,766

2012 Annual  

3,622,244

919,679

70,685

 

 

Sales Trend – Analysis

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

-

-

-

-

-

-

-

-

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http://www.asiancredit.com/Manage/image/up_arrow_04.gif

 

FINANCIAL STATEMENT - DETAILED

Balance Sheet

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2010 Annual

2011 Annual

2012 Annual

Current Assets

13,945,000,000

13,216,000,000

17,453,000,000

Non Current Assets

1,050,000,000

2,036,000,000

1,699,000,000

Non Current Liabilities

26,000,000

20,000,000

-

Share Capital

3,000,000,000

3,000,000,000

3,000,000,000

Other long term assets 

Total Assets

14,995,000,000

15,252,000,000

19,152,000,000

Total Liabilities

9,354,000,000

8,936,000,000

11,952,000,000

Current Liabilities

9,328,000,000

8,916,000,000

11,952,000,000

Long term liabilities 

Shareholders Funds

5,641,000,000

6,316,000,000

7,200,000,000

 

Current assets & short term investments

13,945,000,000

13,216,000,000

17,453,000,000

Cash & cash equivalents

2,031,000,000

489,000,000

1,226,000,000

Cash

2,031,000,000

489,000,000

1,226,000,000

Accounts receivable

5,675,000,000

6,055,000,000

6,866,000,000

Accounts receivable trade

5,454,000,000

5,355,000,000

6,574,000,000

Trade prepayment

218,000,000

690,000,000

285,000,000

Others receivables

3,000,000

10,000,000

7,000,000

Inventories I

6,224,000,000

6,359,000,000

9,319,000,000

Inventories II

6,224,000,000

6,359,000,000

9,319,000,000

Other short term asset I

15,000,000

313,000,000

42,000,000

VAT deductible

-

298,000,000

27,000,000

Other short term asset II

15,000,000

15,000,000

15,000,000

Long term assets

1,050,000,000

2,036,000,000

1,699,000,000

Fixed assets

758,000,000

1,749,000,000

1,392,000,000

Tangible fixed assets

758,000,000

1,749,000,000

1,392,000,000

Cost I

1,939,000,000

2,922,000,000

2,961,000,000

Accumulated depreciation I

1,181,000,000

1,173,000,000

1,569,000,000

Cost II

22,000,000

22,000,000

22,000,000

Accumulated depreciation II

22,000,000

22,000,000

22,000,000

Other long term assets

292,000,000

287,000,000

307,000,000

Long term prepayments

292,000,000

287,000,000

307,000,000

Total assets

14,995,000,000

15,252,000,000

19,152,000,000

Liabilities

9,354,000,000

8,936,000,000

11,952,000,000

Current liabilities

9,328,000,000

8,916,000,000

11,952,000,000

Short term borrowings

3,430,000,000

1,896,000,000

6,611,000,000

Accounts payables-trade

5,282,000,000

4,850,000,000

5,267,000,000

Advances from customers

-

9,000,000

11,000,000

Taxes and payable to state budget

268,000,000

253,000,000

61,000,000

Inter company payable

-

6,000,000

2,000,000

Other payables

348,000,000

1,902,000,000

-

Long term liabilities

26,000,000

20,000,000

-

Provision funds for unemployment

26,000,000

20,000,000

-

Owner's equity

5,641,000,000

6,316,000,000

7,200,000,000

Business capital

3,000,000,000

3,000,000,000

3,000,000,000

Foreign exchange differences

-

(4,000,000)

-

Retained earnings

2,641,000,000

3,320,000,000

4,200,000,000

Total resources

14,995,000,000

15,252,000,000

19,152,000,000

 

Income Statement

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2010 Annual

2011 Annual

2012 Annual

Turnover

54,317,000,000

59,949,000,000

75,432,000,000

Profit (Loss) Before Tax

924,000,000

903,000,000

1,784,000,000

Profit After Tax attributable to Shareholders

693,000,000

745,000,000

1,472,000,000

 

Gross sales

54,317,000,000

59,949,000,000

75,432,000,000

Less deductions

160,000,000

-

123,000,000

Net income

54,157,000,000

59,949,000,000

75,309,000,000

Cost of goods sold

43,841,000,000

47,757,000,000

63,899,000,000

Gross margin

10,316,000,000

12,192,000,000

11,410,000,000

Income from financial activities

42,000,000

174,000,000

191,000,000

Expenses from financial activities

1,984,000,000

1,377,000,000

414,000,000

In which: Interest expenses

147,000,000

1,377,000,000

229,000,000

Selling expenses

3,129,000,000

4,499,000,000

2,900,000,000

General & administration expenses

5,465,000,000

6,285,000,000

6,523,000,000

Net income from operating activities

(220,000,000)

205,000,000

1,764,000,000

Extraordinary income

1,144,000,000

698,000,000

20,000,000

Extraordinary gains

1,144,000,000

698,000,000

20,000,000

Net profit before tax

924,000,000

903,000,000

1,784,000,000

Income tax

231,000,000

158,000,000

312,000,000

Net profit after tax

693,000,000

745,000,000

1,472,000,000

 

Financial Ratios

Financial Highlights

2010 Annual

2011 Annual

2012 Annual

Growth % 

Year-on-Year Growth

-

10.37

25.83

Profitability 

Profit Margin (%)

1.28

1.24

1.95

Return on Equity (%)

12.29

11.80

20.44

Return on Assets (%)

4.62

4.88

7.69

Leverage 

Total Debt Equity (Times)

1.66

1.41

1.66

Current Debt Equity (Times)

1.65

1.41

1.66

Long Term Debt to Equity

0.00

0.00

-

Total Asset To Total Equity

2.66

2.41

2.66

Asset Management 

Total Assets Turnover (Times)

3.62

3.93

3.94

Fixed Assets Turnover (Times)

51.73

29.44

44.40

Liquidity 

Current Ratio

1.49

1.48

1.46

 

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. Although financials were obtained for reference.

 

 

FOREIGN EXCHANGE RATES

 

Today's Exchange rate

:

1.00 VND
Vietnam Dong

=

0.000047 USD
United States Dollars

 

 

ADDITIONAL INFORMATION

 

Country

:

Vietnam

Business Entity Name

:

UCC TRADING CO LTD

Primary Business Activity

:

Importer

Primary Industry

:

Chemicals

 

Office Contact Details

Operating Address

:

10/3 Phan Dinh Giot St Ward 2, Tan Binh Dist, Ho Chi Minh

Tel

:

[+84] 8-38477655

 

:

[+84] 8-38477649

Fax

:

[+84] 8-39975666

Email

:

ucc@hcm.vnn.vn

 

Website Details

Website

:

http://www.unichemcolor.com

Tax / VAT Details

Tax Issuing Authority

:

Ministry of Finance

Local Name Used

:

Gia Trj Gia Tang (Value Added Tax)

Acronym

:

GTGT / VAT

GTGT / VAT Number

:

0302644794

 

Primary Products

Products / Materials / Services Description

Activity

Chemicals

Importing, Trading

Dye colors

Importing, Trading

Printing materials

Importing, Trading

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Chemical products and preparations of the chemical or allied industries

3823909050

Importing, Trading

Miscellaneous chemical products

3800

Importing, Trading

Printing type, blocks, plates, cylinders and other printing components

8442508000

Importing, Trading

Reactive dyes & preparations based thereon

3204160000

Importing, Trading

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of UCC TRADING CO LTD is Importing - Finished products.

Key products include :

Chemicals

Dye colors

Printing materials

 

 

Supplementary Business

In addition to the core business, UCC TRADING CO LTD also is engaged in the following areas of business:

Trading

Trading - Finished products

 

BANK DETAILS

Bank Name

:

JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM

Global Identifier

:

P1072025

Branch

:

Hanoi

Branch Address

:

JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM - TAN BINH

SWIFT Code

:

BFTVVNVX

 

Bank Name

:

SAI GON THUONG TIN COMMERCIAL JOINT STOCK BANK

Global Identifier

:

P0388625

Branch

:

District 3,Ho Chi Minh

Branch Address

:

SAI GON THUONG TIN COMMERCIAL JOINT STOCK BANK, TAN DINH

SWIFT Code

:

SGTTVNVX

 

INTERNATIONAL TRADE - Activity & Markets

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing

Europe

Medium

Importing

North America

Medium

Importing

Italy

Medium

Importing

USA

Medium

Importing

 

OFFICE & FACILITIES

Name

:

UCC TRADING CO LTD - TAN BINH DIST, HO CHI MINH

Building Size

:

300 Square meters

Address

:

10/3 Phan Dinh Giot St Ward 2, Tan Binh Dist, Ho Chi Minh

Country

:

Vietnam

Ownership of Property

:

Rented / Leased

Status

:

Operational

 

PREVIOUS CONTACT DETAILS

Company Address

:

127B-A1 Dinh Tien Hoang St Ward 3, Binh Thanh, Ho Chi Minh

Date of Relocation

:

1 Oct, 2013

 

 

NOTES & COMMENTS

 

N/a

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.78

UK Pound

1

Rs.99.06

Euro

1

Rs.83.84

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIS

 

 

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%)

 

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