MIRA INFORM REPORT

 

 

Report Date :

29.08.2014

 

IDENTIFICATION DETAILS

 

Name :

VIET DELTA INDUSTRIAL CO LTD(1)

 

 

Registered Office :

20/5 Dinh Bo Linh St Ward 24, Binh Tan Dist, Ho Chi Minh

 

 

Country :

Vietnam

 

 

Financials (as on) :

December, 2012

 

 

Date of Incorporation :

03.11.2003

 

 

Legal Form :

Company Limited

 

 

Line of Business :

Trader of Agricultural Products

 

 

No. of Employees

30

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Vietnam

A2

A2

 

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

 

 

 

REGISTERED NAME & COMPANY SUMMARY

 

Company Details

Organization Name

:

VIET DELTA INDUSTRIAL CO LTD(1)

Address

:

20/5 Dinh Bo Linh St Ward 24, Binh Tan Dist, Ho Chi Minh

Country

:

Vietnam

Phone (S)

:

[+84] 8-35115601

Facsimile

:

[+84] 8-35114834

Email

:

al@vdelta.com.vn

Website

:

http://www.vdelta.com.vn

Primary Business Activity

:

Trader

Key Industry

:

Agricultural Products

 

Key Facts

 

Registered Legal Address

:

20/5 Dinh Bo Linh St Ward 24, Binh Tan Dist, Ho Chi Minh

Operational Address

:

20/5 Dinh Bo Linh St Ward 24, Binh Tan Dist, Ho Chi Minh

Trading Name

:

VIET DELTA CORP

Issuing Authority

:

Dept. of Planning & Investment - Ho Chi Minh

License Number

:

4102018597

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

:

3 Nov, 2003

Employees

:

30

Capital

:

US$ 71,178

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

:

VIET DELTA INDUSTRIAL CO LTD

Primary Business Activity

:

Trader

Primary Industry

:

Agricultural Products

Office Contact Details

Operating Address

:

20/5 Dinh Bo Linh St Ward 24, Binh Tan Dist, Ho Chi Minh

Tel

:

[+84] 8-35115601

 

:

[+84] 8-35119589

 

:

[+84] 8-35114928

 

:

[+84] 8-35119506

Mobile

:

[+84]-946787302

 

:

[+84]-909680550

 

:

[+84]-906766689

Fax

:

[+84] 8-35114834

 

:

[+84] 8-35119559

Email

:

al@vdelta.com.vn
info@vdelta.com.vn

Postal Details

P.O. Box

:

84

Website Details

Website

:

http://www.vdelta.com.vn

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

:

0303143864

 

 

 

DIRECTORS/MANAGEMENT

 

Key Person

Legal Title

:

Chairman

Name

:

Mr. Pham Anh Thu

Nationality

:

Vietnamese

 

 

COMPANY MANAGEMENT

 

 

 

Management Listings

 

 

Name

Nationality

Job Description

Dept. / Division

1

Ms. Helen Hoai

Vietnamese

Manager

Sales

2

Mr. Huynh Nguyen

Vietnamese

Representative

Sales

3

Mr. Thu Ha Nguyen

Vietnamese

Manager

Export

4

Mr. Cac Mong Nguyen Duong

Vietnamese

Representative

Executive

5

Mr. Pham Anh Thu

Vietnamese

Managing Director

-

6

Ms. Nguyen Hoang Tuyet Trang

Vietnamese

Chief Accountant

-

7

Mr. Van Nhi Vo Ly

Vietnamese

Representative

Export

 

 

Management Details - 1

Personal Unique Identifier

:

MI03738801

Name

:

Ms. Helen Hoai

 

Email

:

sales26@vdelta.com.vn

Tel

:

84-8-35119506

 

 

Management Details - 2

Personal Unique Identifier

:

MI01867942

Name

:

Mr. Huynh Nguyen

 

 

 

Management Details - 3

Personal Unique Identifier

:

MI01867932

Name

:

Mr. Thu Ha Nguyen

 

 

 

Management Details - 4

Personal Unique Identifier

:

MI01867651

Name

:

Mr. Cac Mong Nguyen Duong

 

 

 

Management Details - 5

Personal Unique Identifier

:

MI03741407

Name

:

Mr. Pham Anh Thu

 

Date of Birth

:

1959

 

 

Management Details - 6

Personal Unique Identifier

:

MI03757540

Name

:

Ms. Nguyen Hoang Tuyet Trang

 

Date of Birth

:

1975

 

 

Management Details - 7

Personal Unique Identifier

:

MI01867611

Name

:

Mr. Van Nhi Vo Ly

 

Email

:

nhi@vdelta.com.vn

 

 

COMPANY DIRECTORS

 

1

 

 

Personal Unique Identifier

:

MI03741407

Name

:

Mr. Pham Anh Thu

Date of Birth

:

1959

 

 

NEGATIVE INFORMATION

 

 

REPUTATION

 

Reference checking for the purpose of establishing VIET DELTA INDUSTRIAL 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

:

₫ 1,500,000,000

 

 

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. Pham Anh Thu

Vietnam

n/a

n/a

66.67

2

Mr. Dang Thanh Minh

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

 

 

PAYMENT TERMS

 

Selling

 

Type

Terms

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

Import

Letter of Credit (At-sight)

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

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Na

 

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

Year

Sales

Assets

Net Income

2012 Annual (*)

1,662,116

378,734

19,400

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

2012 Annual

Current Assets(*)

7,887,000,000

Share Capital(*)

1,500,000,000

Other long term assets 

Total Assets(*)

7,887,000,000

Total Liabilities(*)

4,713,000,000

Current Liabilities(*)

4,713,000,000

Long term liabilities 

Shareholders Funds(*)

3,174,000,000

 

Current assets & short term investments

7,887,000,000

Cash & cash equivalents

212,000,000

Cash

212,000,000

Accounts receivable

3,282,000,000

Accounts receivable trade

3,282,000,000

Inventories

4,049,000,000

Other short term asset

152,000,000

VAT deductible

192,000,000

Total assets

7,887,000,000

Liabilities

4,713,000,000

Current liabilities

4,713,000,000

Short term borrowings

4,190,000,000

Accounts payables-trade

452,000,000

Taxes and payable to state budget

71,000,000

Owner's equity

3,174,000,000

Business capital

1,500,000,000

Retained earnings

1,674,000,000

Total resources

7,887,000,000

 

Note: (*)

 

Financial Highlights

 

 

Income Statement

 

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

 

Financial Highlights

2012 Annual

Turnover(*)

34,613,000,000

Profit (Loss) Before Tax(*)

539,000,000

Profit After Tax attributable to Shareholders(*)

404,000,000

 

Gross sales

34,613,000,000

Net income

34,613,000,000

Cost of goods sold

31,492,000,000

Gross margin

3,121,000,000

Income from financial activities

107,000,000

Expenses from financial activities

581,000,000

In which: Interest expenses

356,000,000

General & administration expenses

2,108,000,000

Net income from operating activities

539,000,000

Net profit before tax

539,000,000

Income tax

135,000,000

Net profit after tax

404,000,000

 

Note: (*)

 

Financial Highlights

 

 

Financial Ratios

 

Financial Highlights

2012 Annual

Profitability 

Profit Margin (%)

1.17

Return on Equity (%)

12.73

Return on Assets (%)

5.12

Leverage 

Total Debt Equity (Times)

1.48

Current Debt Equity (Times)

1.48

Total Asset To Total Equity

2.48

Asset Management 

Total Assets Turnover (Times)

4.39

Liquidity 

Current Ratio

1.67

 

 

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

Avocado

Trading

Banana

Trading

Beans

Trading

Broccoli

Trading

Cabbage

Trading

 

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Product/Service Description

Code

Activity

Agricultural Production-Crops

0100

Trading

Citrus fruits

0174

Trading

Corn

0115

Trading

Deciduous tree fruits

0175

Trading

Flour and other grain mill products

2041

Trading

Fresh Fruits & Vegetables

5148

Trading

Fruits and tree nuts, nspf

0179

Trading

Grain & Field Beans

5153

Trading

Vegetables and melons

0161

Trading

 

 

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Product/Service Description

Code

Activity

Avocados, fresh or dried

0804400000

Trading

Bananas and plantains, fresh or dried

0803

Trading

Cabbages, cauliflower, kale etc, fresh or chilled

0704

Trading

Carrots, fresh or chilled

0706102000

Trading

Cassava arrowroot etc fresh or dry: sago pith

0714

Trading

Chili peppers, fresh or chilled

0709602000

Trading

Coconut, palm kernel or babassu oil etc, not chemically modified

1513

Trading

Coconuts, brazil nuts & cashew nuts, fresh or dry

0801

Trading

Cucumbers and gherkins, fresh or chilled

0707

Trading

Dates, figs, pineapples, avocados etc, frozen or dried

0804

Trading

 

 

 

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Products / Materials / Services Description

Ranking

Activity

Carrots

Primary

Trading

Cassava

Primary

Trading

Cauliflowers

Primary

Trading

Chillies

Primary

Trading

Coconut

Primary

Trading

Corns

Primary

Trading

Cucumbers

Primary

Trading

Desiccated coconut

Primary

Trading

Dragon fruits

Primary

Trading

Dry chilli

Primary

Trading

 

 

 

CORE BUSINESS DESCRIPTION

 

 

 

Core Business

 

The primary business focus of VIET DELTA INDUSTRIAL CO LTD is Trading - Finished products.

Key products include :

Avocado

Banana

Beans

Broccoli

Cabbage

Carrots

Cassava

Cauliflowers

Chillies

Coconut

Corns

Cucumbers

Desiccated coconut

Dragon fruits

Dry chilli

Eggplant

Fruits

Ginger

Grapefruit

Green chilles

Kernels

Kudzu

Lime

Litchi

Longan

Lotus

Lychee

Mangoes

Mangosteen

Manioc flour

Melons

Mushrooms

Papaya

Passion fruits

Pepper

Pineapples

Pomelo

Pumpkin

Rambutan

Red chili

Seaweeds

Spices

Spinach

Star apples

Sugarcane

Sweet potatoes

Tapioca

Tapioca starch

Taro

Tomatoes

Vegetables

Watermelon

 

 

 

Supplementary Business

 

In addition to the core business, VIET DELTA INDUSTRIAL CO LTD also is engaged in the following areas of business:

Exporting

Exporting - Finished products

Importing

Importing - Finished products

 

 

 

DOMESTIC SALES & PURCHASES

 

 

 

Annual Sales Analysis

Percentage

International Sales (Export)

100%

 

 

 

 

Annual Purchases Analysis

Percentage

Local Purchases

60%

Imports

40%

 

 

 

 

BANK DETAILS

 

 

 

Bank Name

:

SAIGON THUONG TIN COMMERCIAL BANK (SACOMBANK)

Branch Address

:

SAIGON THUONG TIN COMMERCIAL JOINT STOCK BANK - HO CHI MINH

SWIFT Code

:

This bank does not have a SWIFT Code

 

 

 

LOCAL BRANCHES & MANAGEMENT

 

 

 

Branch

:

VIET DELTA INDUSTRIAL CO LTD - BINH THANH, HO CHI MINH

Branch Address

:

103 Dien Bien Phu St Ward 15, Binh Thanh, Ho Chi Minh

 

Branch

:

VIET DELTA INDUSTRIAL CO LTD - HOC MON, HO CHI MINH

Branch Address

:

64/2 Dong Lan Hamlet National Highway 22 Ba Diem Commune, Hoc Mon, Ho Chi Minh

 

Branch

:

VIET DELTA INDUSTRIAL CO LTD - BINH THANH, HO CHI MINH

Branch Address

:

498 Dien Bien Phu St Ward 21, Binh Thanh, Ho Chi Minh

 

Branch

:

VIET DELTA INDUSTRIAL CO LTD - BINH THANH, HO CHI MINH

Branch Address

:

77/16B National Highway 13 Ward 26, Binh Thanh, Ho Chi Minh

 

Branch

:

VIET DELTA INDUSTRIAL CO LTD - BINH THANH, HO CHI MINH

Branch Address

:

144 Rd 1A Ward 26, Binh Thanh, Ho Chi Minh

 

 

 

INTERNATIONAL TRADE - Activity & Markets

 

 

 

 

Country / Region

Estimated level of importance

Trading Activity

Africa

Medium

Exporting

Asia / Pacific

Medium

Importing, Exporting

Europe

Medium

Exporting

Middle-East

Medium

Exporting

North America

Medium

Exporting

South America

Medium

Exporting

Algeria

Medium

Exporting

Australia

Medium

Exporting

China

Medium

Importing, Exporting

Egypt

Medium

Exporting

France

Medium

Exporting

Germany

Medium

Exporting

India

Medium

Exporting

Japan

Medium

Exporting

Korea, South (Republic of Korea)

Medium

Importing, Exporting

Malaysia

Medium

Importing

Netherlands

Medium

Exporting

New Zealand

Medium

Exporting

Paraguay

Medium

Exporting

Russia

Medium

Exporting

Saudi Arabia

Medium

Exporting

Singapore

Medium

Exporting

South Africa

Medium

Exporting

Taiwan

Medium

Exporting

Turkey

Medium

Exporting

USA

Medium

Exporting

United Kingdom

Medium

Exporting

Uruguay

Medium

Exporting

 

 

 

 

OFFICE & FACILITIES

 

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

 

Name

:

VIET DELTA INDUSTRIAL CO LTD - BINH TAN DIST, HO CHI MINH

Primary Use

:

Office & Administration facilities

Type of Location

:

Commercial

Address

:

20/5 Dinh Bo Linh St Ward 24, Binh Tan Dist, Ho Chi Minh

Country

:

Vietnam

Status

:

Operational

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.47

UK Pound

1

Rs.100.35

Euro

1

Rs.79.86

                

INFORMATION DETAILS

 

Analysis Done by :

SUM

 

 

Report Prepared by :

SDA

               

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.