Report Date :

12.08.2014

 

IDENTIFICATION DETAILS

 

Name :

ANH PHAT RUBBER CO LTD

 

 

Registered Office :

55/363C Quang Trung St Ward 12, Go Vap, Ho Chi Minh

 

 

Country :

Vietnam

 

 

Financials (as on) :

2012

 

 

Date of Incorporation :

04.11.2009

 

 

Legal Form :

Private Company with Limited Liability

 

 

Line of Business :

Trader of Rubber & Products

 

 

No. of Employees

06

 

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 :

Slow but correct

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

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 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

 

Source : CIA

Company name and address

 

Company Details

Organization Name

:

ANH PHAT RUBBER CO LTD(1)

Address

:

55/363C Quang Trung St Ward 12, Go Vap, Ho Chi Minh

Country

:

Vietnam

Phone (S)

:

[+84] 8-39874043

Facsimile

:

[+84] 8-39874043

Email

:

namduclong@vnn.vn

Website

:

http://www.anpharubber.com

Primary Business Activity

:

Trader

Key Industry

:

Rubber & Products

 

Key Facts

Registered Legal Address

:

55/363C Quang Trung St Ward 12, Go Vap, Ho Chi Minh

Operational Address

:

55/363C Quang Trung St Ward 12, Go Vap, Ho Chi Minh

Trading Name

:

ANPHA RUBBER

Issuing Authority

:

Dept. of Planning & Investment - Ho Chi Minh

License Number

:

0306002406

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

:

4 Nov, 2009

Employees

:

6

Capital

:

US$ 84,911

Note

:

(1) Legal status of the English corporate name
The English name of the Subject Business Entity (SBE) is a randomly selected translation / transliteration made by the owners of the SBE. It is not a registered English corporate name, but simply a translation / transliteration of the local language name.

 

Report Details

 

 

Country

:

Vietnam

Business Entity Name

:

ANH PHAT RUBBER CO LTD

Primary Business Activity

:

Trader

Primary Industry

:

Rubber & Products

Office Contact Details

Operating Address

:

55/363C Quang Trung St Ward 12, Go Vap, Ho Chi Minh

Tel

:

[+84] 8-39874043

Fax

:

[+84] 8-39874043

Email

:

namduclong@vnn.vn
info@anpharubber.com

Website Details

Website

:

http://www.anpharubber.com

Status

:

Normal - operational

Country of Registration

:

Vietnam

Ownership Type

:

Registered ownership by Subject Business Entity

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

:

0306002406

 

 

 

DIRECTORS/MANAGEMENT

 

Key Person

Legal Title

:

Managing Director

Name

:

Mr. Le Van Nam

Nationality

:

Vietnamese

 

 

COMPANY MANAGEMENT

 

Management Listings

 

 

Name

Nationality

Job Description

Dept. / Division

1

Ms. Truong Thi Thanh Nhan

Vietnamese

Chief Accountant

Finance

 

Management Details - 1

Personal Unique Identifier

:

MI02265070

Name

:

Ms. Truong Thi Thanh Nhan

 

Date of Birth

:

1973

 

COMPANY DIRECTORS

 

1

 

 

Personal Unique Identifier

:

MI02099836

Name

:

Mr. Le Van Nam

Date of Birth

:

1973

 

 

NEGATIVE INFORMATION

 

 

REPUTATION

 

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

 

 

NEGA-SCAN - ADVERSE DATA MONITORING

 

 

DISHONORED CHECKS

 

No Record Found

 

 

DEBT

 

No Record Found

 

 

CIVIL 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

:

₫ 1,800,000,000

Paid-up Capital

:

₫ 1,800,000,000

 

 

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. Le Van Nam

Vietnam

n/a

1,260,000,000

70.00

2

Ms. Truong Thi Thanh Nhan

Vietnam

n/a

540,000,000

30.00

Total

n/a

1,800,000,000

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

 

 

PAYMENT TERMS

 

Selling

 

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~60 days

Export

Letter of Credit (At-sight)

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

 

Purchasing

 

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~60 days

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Na

 

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

Year

Sales

Assets

Net Income

2010 Annual  

4,262,750

129,041

23,653

2011 Annual  

5,056,457

102,736

26,596

2012 Annual (*)

4,381,200

386,705

7,875

 

Sales Trend – Analysis

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

-

-

-

-

-

-

-

-

Note: (*)

 

Financials listed are the most recent available for this company.

 

 

FINANCIAL STATEMENT - DETAILED

 

Balance Sheet

 

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

 

Financial Highlights

2010 Annual

2011 Annual

2012 Annual

Current Assets

2,441,000,000

2,053,000,000

7,995,000,000

Non Current Assets

74,000,000

87,000,000

58,000,000

Non Current Liabilities

0

0

0

Share Capital

1,800,000,000

1,800,000,000

1,800,000,000

Other long term assets 

Total Assets

2,515,000,000

2,140,000,000

8,053,000,000

Total Liabilities

111,000,000

64,000,000

5,748,000,000

Current Liabilities

111,000,000

64,000,000

5,748,000,000

Long term liabilities 

Shareholders Funds

2,404,000,000

2,076,000,000

2,305,000,000

 

Current assets & short term investments

2,441,000,000

2,053,000,000

7,995,000,000

Cash & cash equivalents

2,095,000,000

1,500,000,000

1,220,000,000

Cash

2,095,000,000

1,500,000,000

1,220,000,000

Accounts receivable

11,000,000

1,000,000

5,519,000,000

Accounts receivable trade

-

-

5,518,000,000

Others receivables

11,000,000

1,000,000

1,000,000

i. Other short term asset

335,000,000

552,000,000

1,256,000,000

VAT deductible

330,000,000

552,000,000

1,256,000,000

ii. Other short term asset

5,000,000

-

-

Long term assets

74,000,000

87,000,000

58,000,000

Fixed assets

62,000,000

68,000,000

51,000,000

Tangible fixed assets

62,000,000

68,000,000

51,000,000

Cost

87,000,000

120,000,000

137,000,000

Accumulated depreciation

25,000,000

52,000,000

86,000,000

i. Other long term assets

12,000,000

19,000,000

7,000,000

ii. Other long term assets

12,000,000

19,000,000

7,000,000

Total assets

2,515,000,000

2,140,000,000

8,053,000,000

Liabilities

111,000,000

64,000,000

5,748,000,000

Current liabilities

111,000,000

64,000,000

5,748,000,000

Short term borrowings

-

-

5,294,000,000

Accounts payables-trade

-

26,000,000

391,000,000

Taxes and payable to state budget

111,000,000

38,000,000

63,000,000

i. Owner's equity

2,404,000,000

2,076,000,000

2,305,000,000

ii. Owner's equity

2,404,000,000

2,076,000,000

2,305,000,000

Business capital

1,800,000,000

1,800,000,000

1,800,000,000

Retained earnings

604,000,000

276,000,000

505,000,000

Total resources

2,515,000,000

2,140,000,000

8,053,000,000

 

 

Income Statement

 

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

 

Financial Highlights

2010 Annual

2011 Annual

2012 Annual

Turnover

83,081,000,000

105,326,000,000

91,237,000,000

Profit (Loss) Before Tax

461,000,000

612,000,000

199,000,000

Profit After Tax attributable to Shareholders

461,000,000

554,000,000

164,000,000

 

Gross sales

83,081,000,000

105,326,000,000

91,237,000,000

Net income

83,081,000,000

105,326,000,000

91,237,000,000

Cost of goods sold

82,896,000,000

104,187,000,000

90,073,000,000

Gross margin

185,000,000

1,139,000,000

1,164,000,000

Income from financial activities

1,335,000,000

1,281,000,000

58,000,000

Expenses from financial activities

115,000,000

678,000,000

238,000,000

In which: Interest expenses

-

363,000,000

223,000,000

General & administration expenses

944,000,000

1,130,000,000

785,000,000

Net income from operating activities

461,000,000

612,000,000

199,000,000

Net profit before tax

461,000,000

612,000,000

199,000,000

Income tax

-

58,000,000

35,000,000

Net profit after tax

461,000,000

554,000,000

164,000,000

 

 

Financial Ratios

 

Financial Highlights

2010 Annual

2011 Annual

2012 Annual

Growth % 

Year-on-Year Growth

-

26.78

(13.38)

Profitability 

Profit Margin (%)

0.55

0.53

0.18

Return on Equity (%)

19.18

26.69

7.11

Return on Assets (%)

18.33

25.89

2.04

Leverage 

Total Debt Equity (Times)

0.05

0.03

2.49

Current Debt Equity (Times)

0.05

0.03

2.49

Total Asset To Total Equity

1.05

1.03

3.49

Asset Management 

Total Assets Turnover (Times)

33.03

49.22

11.33

Fixed Assets Turnover (Times)

1,122.72

1,210.64

1,573.05

Liquidity 

Current Ratio

21.99

32.08

1.39

 

 

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 basic 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

 

Primary Products

Products / Materials / Services Description

Activity

Agricultural materials

Trading, Exporting

Rubber products

Trading, Exporting

 

International Trade - Statistics  (Currency: USD - US Dollar)

Year

Imports

Exports

Total

2010

n/a

3,410,200

3,410,200

2011

n/a

4,045,166

4,045,166

2012

n/a

3,504,960

3,504,960

 

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Product/Service Description

Code

Activity

Fabricated rubber products, nspf

3069

Trading, Exporting

Farm-Prdt Raw Materials, NEC

5159

Trading, Exporting

 

 

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Product/Service Description

Code

Activity

Oil seeds/misc. grains/med. plants/straw

1200

Trading, Exporting

Rubbers & articles thereof

4000

Trading, Exporting

 

 

 

 

CORE BUSINESS DESCRIPTION

 

 

 

Core Business

 

The primary business focus of ANH PHAT RUBBER CO LTD is Trading - Finished products.

Key products include :

Agricultural materials

Rubber products

 

 

 

Supplementary Business

 

In addition to the core business, ANH PHAT RUBBER CO LTD also is engaged in the following areas of business:

Exporting

Exporting - Finished products

 

 

 

 

DOMESTIC SALES & PURCHASES

 

 

 

Annual Sales Analysis

Percentage

International Sales (Export)

80%

Domestic Sales

20%

 

 

 

 

Annual Purchases Analysis

Percentage

Local Purchases

100%

 

 

 

 

BANK DETAILS

 

 

 

Bank Name

:

ASIA COMMERCIAL JOINT STOCK BANK

Global Identifier

:

P0075118

Branch

:

District 3,Ho Chi Minh

Branch Address

:

ASIA COMMERCIAL BANK - HO CHI MINH

SWIFT Code

:

ASCBVNVX

 

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 - HO CHI MINH

SWIFT Code

:

BFTVVNVX

 

 

 

LOCAL BRANCHES & MANAGEMENT

 

 

 

Branch

:

ANH PHAT RUBBER CO LTD - GO VAP, HO CHI MINH

Branch Address

:

Rm 102, 1Fl Thanh Phat 1 Bldg 572 Le Quang Dinh St Ward 1, Go Vap, Ho Chi Minh

Branch Tel

:

84-8-39850001

Branch Fax

:

84-8-39850002

 

 

 

INTERNATIONAL TRADE - Activity & Markets

 

 

 

 

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Exporting

Europe

Medium

Exporting

China

Medium

Exporting

Malaysia

Medium

Exporting

Russia

Medium

Exporting

Singapore

Medium

Exporting

Spain

Medium

Exporting

Taiwan

Medium

Exporting

 

 

 

 

OFFICE & FACILITIES

 

The following information relates to the Business Entity's office as listed above:

 

Name

:

ANH PHAT RUBBER CO LTD - GO VAP, HO CHI MINH

Primary Use

:

Office & Administration facilities

Address

:

55/363C Quang Trung St Ward 12, Go Vap, Ho Chi Minh

Country

:

Vietnam

Status

:

Operational

 

 

 

 

PREVIOUS BUSINESS LICENSE/S

 

 

 

License Date

License No.

11 Sep, 2008

4102064978

 

 

 

NOTES & COMMENTS

 

Na

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.12

UK Pound

1

Rs.103.54

Euro

1

Rs.81.87

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

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%)

 

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.