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Report Date : |
24.09.2013 |
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Tel No.: |
84 8 983832388 |
IDENTIFICATION DETAILS
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Name : |
VIETNAM AGROTECH CO LTD |
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Registered Office : |
Melody Tower 422-424 Ung Van Khiem Ward 25, Binh Thanh, Ho Chi Minh |
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Country : |
Vietnam |
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Date of Incorporation : |
09.04.2013 |
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Legal Form : |
Company Limited |
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Line of Business : |
Trader of Earth Moving &
Agricultural Equipment |
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No. of Employees : |
Not Available |
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) |
|
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 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 |
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Company Details |
|
Organization Name |
: |
VIETNAM AGROTECH CO LTD |
|
Address |
: |
Melody Tower 422-424 Ung Van Khiem Ward 25, Binh Thanh, Ho Chi Minh |
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Country |
: |
Vietnam |
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Phone (S) |
: |
[+84] 8-62871501 |
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Primary Business Activity |
: |
Trader |
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Key Industry |
: |
Earth Moving & Agricultural Equipment |
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Operating Status: Investigation can not confirm operational status of Subject Business
Entity. Investigations confirm the legal registration of the VIETNAM AGROTECH
CO LTD, but as a result of not being able to identify: any operational offices any point of contact nor speak to any representative of the firm it has not been possible to conduct the normal due diligence process
and assessment of credit worthiness. |
|
Registered Legal Address |
: |
Melody Tower 422-424 Ung Van Khiem Ward 25, Binh Thanh, Ho Chi Minh |
||
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Operational Address |
: |
Melody Tower 422-424 Ung Van Khiem Ward 25, Binh Thanh, Ho Chi Minh |
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Issuing Authority |
: |
Dept. of Planning & Investment - Ho Chi Minh |
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License Number |
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0312228955 |
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License Status |
: |
License exists - But no trace of any Operational office. |
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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 |
: |
It was NOT possible to confirm the operational status.(1) |
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Date of Registration |
: |
9 Apr, 2013 |
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Capital |
: |
n/a(2) |
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Note |
: |
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Report Details |
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COMPANY
DIRECTORS |
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NEGA-SCAN -
ADVERSE DATA MONITORING |
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SHAREHOLDERS |
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Not available - According to the corporate statutory laws for this
type of Legal Form - Category (Private Company with Limited Liability) in
Vietnam, there is no public disclosure of Shareholders. |
N/a
N/a
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FINANCIAL
STATEMENT - DETAILED |
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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. |
N/a
Primary Products
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Products / Materials / Services Description |
Activity |
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Agricultural equipment |
Trading |
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Agricultural machinery |
Trading |
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SIC PRODUCT
CLASSIFICATION & ACTIVITY |
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HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY |
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REPUTATION |
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Due to the recent incorporation of the VIETNAM AGROTECH 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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N/a
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.52 |
|
|
1 |
Rs.100.26 |
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Euro |
1 |
Rs.84.67 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.