MIRA INFORM REPORT

 

 

Report Date :

26.12.2014

 

IDENTIFICATION DETAILS

 

Name :

THIEN TAN ELECTRIC JSC

 

 

Registered Office :

Mang Den Hamlet Dak Long Commune, Kon Plong Dist, Kon Tum

 

 

Country :

Vietnam

 

 

Date of Incorporation :

27.03.2008

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Providing Energy, Power & Utilities Service.

 

 

No. of Employees :

200

 

 

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 :

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

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

 

Organization Name

:

THIEN TAN ELECTRIC JSC

Address

:

Mang Den Hamlet Dak Long Commune, Kon Plong Dist, Kon Tum

Country

:

Vietnam

Primary Business Activity

:

Service

Key Industry

:

Energy, Power & Utilities

 

Registered Legal Address

:

Mang Den Hamlet Dak Long Commune, Kon Plong Dist, Kon Tum

Operational Address

:

Mang Den Hamlet Dak Long Commune, Kon Plong Dist, Kon Tum

Trading Name

:

TEC

Issuing Authority

:

DEPARTMENT OF PLANNING & INVESTMENT - Kontum

License Number

:

6100259920

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

:

27 Mar, 2008

Employees

:

200

Capital

:

US$ 30,742,163

 

 

 

DIRECTORS/MANAGEMENT

 

Key Person

Legal Title

:

Chairman

Name

:

Mr. Huynh Kim Lap

Nationality

:

Vietnamese

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Mr. Huynh Kim Lap

Vietnamese

Chairman

-

 

 

Management Details - 1

Personal Unique Identifier

:

MI03809127

Name

:

Mr. Huynh Kim Lap

 

Date of Birth

:

10 May, 1965

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03809127

Name

:

Mr. Huynh Kim Lap

Date of Birth

:

10 May, 1965

 

 

NEGATIVE INFORMATION

 

REPUTATION

Reference checking for the purpose of establishing THIEN TAN ELECTRIC JSC'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

:

₫ 650,000,000,000

 

 

SHAREHOLDERS

 

Total number of shareholders

:

3

Total number of shares

:

n/a

 

Currency

:

VND - Vietnam Dong

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

THIEN TAN INVESTMENT CONSTRUCTION JSC

Vietnam

n/a

n/a

88.00

2

Mr. Huynh Kim Lap

Vietnam

n/a

n/a

8.00

3

Undisclosed Shareholders

n/a

n/a

n/a

4.00

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

 

N/A

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

DIRECT / INDIRECT CORPORATE PARENT DETAILS

Direct Parent

:

THIEN TAN INVESTMENT CONSTRUCTION JSC

Global Identifier

:

P3164780

Legal Form Category

:

Private Company with Limited Liability

Country

:

Vietnam

Operational Address

:

172 Pham Van Dong St Nghia Chanh Quarter Quang Ngai Quang Ngai

Primary Business Activity

:

Service

 

 

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

 

Country

:

Vietnam

Business Entity Name

:

THIEN TAN ELECTRIC JSC

Primary Business Activity

:

Service

Primary Industry

:

Energy, Power & Utilities

Office Contact Details

Operating Address

:

Mang Den Hamlet Dak Long Commune, Kon Plong Dist, Kon Tum

Mobile

:

[+84]-977236970 (*)

 

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

:

6100259920

Date of Issuance

:

20 May, 2008

 

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

Electric power distribution

Service

Electric power supply

Service

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Electric Svcs

4911

Service

Electrical Work

1731

Service

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Electrical energy

2716

Service

Electrical work

9820

Service

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of THIEN TAN ELECTRIC JSC is Specialized professional services, including:

Electric power distribution

Electric power supply


Key services include :

Electric power supply

Electric power distribution

 

OFFICE & FACILITIES

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

Name

:

THIEN TAN ELECTRIC JSC - KON PLONG DIST, KON TUM

Primary Use

:

Office & Administration facilities

Address

:

Mang Den Hamlet Dak Long Commune, Kon Plong Dist, Kon Tum

Country

:

Vietnam

Status

:

Operational

 

 

NOTES & COMMENTS

 

N/A

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.45

UK Pound

1

Rs.98.88

Euro

1

Rs.77.62

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

NIT

 

               

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.