MIRA INFORM REPORT

 

 

Report Date :

20.08.2014

 

IDENTIFICATION DETAILS

 

Name :

PHALCO VIETNAM JSC

 

 

Registered Office :

Group 1 Mieu Tho Hamlet Tien Duoc Commune, Soc Son, Hanoi

 

 

Country :

Vietnam

 

 

Date of Incorporation :

05.07.2013

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacturer of Food Products.

 

 

No of Employees :

86

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

--

NB

                                       New Business

--

 

Status :

New Company

 

 

Payment Behaviour :

Unknown

 

 

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 01, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Vietnam

B1

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

 

B2

Moderate High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

VIET NAM - 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

 

REGISTERED NAME & COMPANY SUMMARY

 

Company Details

Organization Name

:

PHALCO VIETNAM JSC

Address

:

Group 1 Mieu Tho Hamlet Tien Duoc Commune, Soc Son, Hanoi

Country

:

Vietnam

Email

:

info@phalcospices.com

Website

:

http://www.phalcospices.com

Primary Business Activity

:

Manufacturer

Key Industry

:

Food Products

 

Key Facts

Registered Legal Address

:

Group 1 Mieu Tho Hamlet Tien Duoc Commune, Soc Son, Hanoi

Operational Address

:

Group 1 Mieu Tho Hamlet Tien Duoc Commune, Soc Son, Hanoi

Issuing Authority

:

Dept. of Planning & Investment - Hanoi

License Number

:

0106224666

License Status

:

License exists - Normal.

Legal Form - Category

:

Joint Stock Company

Legal Form

:

Joint Stock Company

Legal Form - Abbreviation

:

JSC

Operational Status of Business

:

Normal

Date of Registration

:

5 Jul, 2013

Employees

:

86

Capital

:

US$ 213,533

 

DIRECTORS/MANAGEMENT

 

Key Person

Legal Title

:

Chairman

Name

:

Mr. Nguyen Hoang Phuong

Nationality

:

Vietnamese

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Mr. Nguyen Hoang Phuong

Vietnamese

Managing Director

-

Management Details - 1

Personal Unique Identifier

:

MI03756030

Name

:

Mr. Nguyen Hoang Phuong

 

Date of Birth

:

1979

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03756030

Name

:

Mr. Nguyen Hoang Phuong

Date of Birth

:

1979

 

 

NEGATIVE INFORMATION

 

REPUTATION

Due to the recent incorporation of the PHALCO VIETNAM JSC, and the relatively small nature of its business, no meaningful points of reference in terms of reputation within the respective industry was possible.

 

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

:

₫ 4,500,000,000

 

SHAREHOLDERS

Total number of shareholders

:

3

Total number of shares

:

n/a

 

Currency

:

VND - Vietnam Dong

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

Mr. Nguyen Hoang Phuong

Vietnam

n/a

n/a

33.34

2

Mr. Nguyen Van Hung

Vietnam

n/a

n/a

33.33

3

Mr. Tran Ngoc Long

Vietnam

n/a

n/a

33.33

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

15%

International Sales (Export)

85%

Annual Purchases Analysis

Percentage

Local Purchases

100%

 

PAYMENT TERMS

Selling

Type

Terms

Local

Cash on delivery (COD)

Export

Letter of Credit (At-sight)

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

Purchasing

Type

Terms

Local

Cash on delivery (COD)

 

 

INTERNATIONAL TRADE - Activity & Markets

 

 

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Exporting

Bangladesh

Medium

Exporting

India

Medium

Exporting

Malaysia

Medium

Exporting

Taiwan

Medium

Exporting

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

N/a

 

 

FINANCIAL INFORMATION

 

FINANCIAL STATEMENT - DETAILED

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

 

Today's Exchange rate

:

1.00 VND
Vietnam Dong

=

0.000047 USD
United States Dollars

 

 

ADDITIONAL INFORMATION

 

Report Details

Country

:

Vietnam

Business Entity Name

:

PHALCO VIETNAM JSC

Primary Business Activity

:

Manufacturer

Primary Industry

:

Food Products

Office Contact Details

Operating Address

:

Group 1 Mieu Tho Hamlet Tien Duoc Commune, Soc Son, Hanoi

Mobile

:

[+84]-963582269 (*)

Email

:

info@phalcospices.com
rose@phalcospices.com

Website Details

Website

:

http://www.phalcospices.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

:

0106224666

 

Note (*):

There exists no known land telephone line that is being used by the Subject Business Entity (SBE) in connection to their business, which is uncommon in normal / regular businesses. The SBE ONLY operates using a Mobile phone as the primary point of contact.

In such scenarios, there is no ability to legally associate any relationship between the SBE and the person/s answering the mobile phone.

Caution is advised.

 

Primary Products

Products / Materials / Services Description

Activity

Cashew nuts

Manufacturing, Exporting

Cinnamon

Manufacturing, Exporting

Food products

Manufacturing, Exporting

Pepper

Manufacturing, Exporting

Star anise

Manufacturing, Exporting

 

Product/Service Description

Code

Activity

Agricultural Production-Crops

0100

Manufacturing, Exporting

Food products, nspf

2099

Manufacturing, Exporting

Tree nuts

0173

Manufacturing, Exporting

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Cashew nuts, fresh or dried, whether or not shelled or peeled

0801300000

Manufacturing, Exporting

Cinnamon and cinnamon-tree flowers

0906

Manufacturing, Exporting

Food preparations

2106

Manufacturing, Exporting

Pepper, genus piper; genus capsicum or pimenta

0904

Manufacturing, Exporting

Spices

0910990000

Manufacturing, Exporting

 

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

Products / Materials / Services Description

Ranking

Activity

Agricultural products

Secondary

Manufacturing, Exporting

 

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of PHALCO VIETNAM JSC is Manufacturing - Finished products.

Key products include :

  • Cashew nuts
  • Cinnamon
  • Food products
  • Pepper
  • Star anise

An integral part of the core business includes:

  • Distribution

Supplementary Business

In addition to the core business, PHALCO VIETNAM JSC also is engaged in the following areas of business:

  1. Exporting
    • Exporting - Finished products

 

BANK DETAILS

Bank Name

:

VIETNAM EXPORT IMPORT COMMERCIAL JOINT STOCK BANK

Global Identifier

:

32408823

Branch

:

District 1,Ho Chi Minh

Branch Address

:

TRAN DUY HUNG

SWIFT Code

:

EBVIVNVX

 

OFFICE & FACILITIES

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

Name

:

PHALCO VIETNAM JSC - SOC SON, HANOI

Primary Use

:

Office & Administration facilities

Address

:

Group 1 Mieu Tho Hamlet Tien Duoc Commune, Soc Son, Hanoi

Country

:

Vietnam

Status

:

Operational

 

 

NOTES & COMMENTS

 

N/a

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.73

UK Pound

1

Rs.101.48

Euro

1

Rs.81.04

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

SMN

 

 

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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