MIRA INFORM REPORT
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Report Date : |
17.04.2014 |
IDENTIFICATION DETAILS
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Name : |
NORTHERN INDUSTRY AND CONSTRUCTION DEVELOPMENT CORP |
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Registered Office : |
Hamlet 2 Nghi Phu Commune, Vinh, Nghe An |
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Country : |
Vietnam |
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Date of Incorporation : |
23.09.2010 |
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Legal Form : |
Joint Stock
Company |
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Line of Business : |
Manufacturer of Plastics & Products |
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No. of Employees : |
220 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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 31, 2014
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 20% in 2013, while industry's share increased from 36% to more than 42% in
the same period. State-owned enterprises account for about 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 2013 growing at 5%, the slowest rate of growth since 1999. In 2013,
however, exports increased by more than 12%, 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 relatively stable in 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
has been made. Vietnam's economy continues to face challenges from an
undercapitalized banking sector. Non-performing loans weigh heavily on banks
and businesses.
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Source
: CIA |
REGISTERED
NAME & COMPANY SUMMARY
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Company Details |
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Organization Name |
: |
NORTHERN INDUSTRY AND CONSTRUCTION DEVELOPMENT CORP |
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Address |
: |
Hamlet 2 Nghi Phu Commune, Vinh, Nghe An |
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Country |
: |
Vietnam |
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Phone (S) |
: |
[+84] 38-3852292 |
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Facsimile |
: |
[+84] 38-3852286 |
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Email |
: |
vilaconic@vilaconic.com |
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Website |
: |
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Primary Business Activity |
: |
Manufacturer |
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Key Industry |
: |
Plastics & Products |
DIRECTORS/MANAGEMENT
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Key Person
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COMPANY
MANAGEMENT |
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Management
Listings |
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COMPANY
DIRECTORS |
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NEGATIVE
INFORMATION
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REPUTATION |
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Reference checking for the purpose of establishing the NORTHERN INDUSTRY
AND CONSTRUCTION DEVELOPMENT CORP's reputation within the respective industry
failed to reveal any adverse information. |
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NEGA-SCAN - ADVERSE DATA MONITORING |
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SHARE
& SHARE CAPITAL INFORMATION
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Capital |
: |
US$ 1,425,734 |
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CAPITAL (Currency: VND - Vietnam Dong) |
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SHAREHOLDERS |
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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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GROUP
STRUCTURE & AFFILIATED COMPANIES
N/a
FINANCIAL
INFORMATION
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FINANCIAL STATEMENT - DETAILED |
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Based on the corporate laws of Vietnam, legal entities which are Joint
Stock Company 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
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Key Facts |
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Registered Legal Address |
: |
Hamlet 2 Nghi Phu Commune, Vinh, Nghe An |
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Operational Address |
: |
Hamlet 2 Nghi Phu Commune, Vinh, Nghe An |
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Trading Name |
: |
VILACONIC |
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Issuing Authority |
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Dept. of Planning & Investment - Nghe An |
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License Number |
: |
2901274715 |
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License Status |
: |
License exists – Normal. |
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Legal Form - Category |
: |
Joint Stock Company |
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Legal Form |
: |
Corporation |
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Legal Form - Abbreviation |
: |
CORP |
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Operational Status of Business |
: |
Normal |
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Date of Registration |
: |
23 Sep, 2010 |
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Employees |
: |
220 |
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Report Details |
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Country |
: |
Vietnam |
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Business Entity Name |
: |
NORTHERN INDUSTRY AND CONSTRUCTION DEVELOPMENT CORP |
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Primary Business Activity |
: |
Manufacturer |
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Primary Industry |
: |
Plastics & Products |
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Office Contact Details |
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Operating Address |
: |
Hamlet 2 Nghi Phu Commune, Vinh, Nghe An |
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Tel |
: |
[+84] 38-3852292 |
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: |
[+84] 38-3512183 |
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: |
[+84] 38-3541288 |
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Fax |
: |
[+84] 38-3852286 |
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Email |
: |
vilaconic@vilaconic.com |
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Website Details |
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Website |
: |
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Status |
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Normal - operational |
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Country of Registration |
: |
Vietnam |
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Ownership Type |
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Registered ownership by Subject Business Entity |
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Primary Products
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SIC PRODUCT
CLASSIFICATION & ACTIVITY |
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HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY |
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DETAILED 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 NORTHERN INDUSTRY AND CONSTRUCTION
DEVELOPMENT CORP is Manufacturing - Finished products
Plastic products Plastic doors
Distribution |
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Supplementary Business |
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In addition to the core business, NORTHERN INDUSTRY AND CONSTRUCTION
DEVELOPMENT CORP also is engaged in the following areas of business: Exporting Exporting - Finished products Importing Importing - Raw materials Service Specialized professional services, including: Building construction |
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BANK DETAILS |
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LOCAL BRANCHES
& MANAGEMENT |
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INTERNATIONAL
TRADE - Activity & Markets |
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Country / Region |
Estimated level of importance |
Trading Activity |
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Asia / Pacific |
Medium |
Importing, Exporting |
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Europe |
Medium |
Exporting |
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Middle-East |
Medium |
Importing |
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Malaysia |
Medium |
Importing |
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Singapore |
Medium |
Importing |
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United Arab Emirates |
Medium |
Importing |
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QUALITY
ACCREDITATION |
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Quality Accreditation Listings |
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REAL ESTATE
OWNERSHIP |
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The following property / ies are owned by NORTHERN INDUSTRY AND
CONSTRUCTION DEVELOPMENT CORP: |
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NOTES
& COMMENTS
N/a
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.23 |
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1 |
Rs.100.79 |
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Euro |
1 |
Rs.83.29 |
INFORMATION DETAILS
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Analysis Done by
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SUB |
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Report Prepared
by : |
NNA |
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 |
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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.