MIRA INFORM REPORT

 

 

Report Date :

31.12.2014

 

IDENTIFICATION DETAILS

 

Name :

HA UYEN CO LTD

 

 

Registered Office :

131 Nguyen Du St Hoa Binh Area Hoa Lac Precint, Mong Cai, Quang Ninh

 

 

Country :

Viet Nam

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

25.06.2009

 

 

Legal Form :

Private Company with Limited Liability

 

 

Line of Business :

Trader of Agricultural Products

 

 

No. of Employee :

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 :

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

Viet Nam

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

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

:

HA UYEN CO LTD (1)

Address

:

131 Nguyen Du St Hoa Binh Area Hoa Lac Precint, Mong Cai, Quang Ninh

Country

:

Vietnam

Phone (S)

:

[+84] 33-3772092

Facsimile

:

[+84] 33-3772047

Email

:

luantayan@yahoo.com

Primary Business Activity

:

Trader

Key Industry

:

Agricultural Products

 

Key Facts

Registered Legal Address

:

131 Nguyen Du St Hoa Binh Area Hoa Lac Precint, Mong Cai, Quang Ninh

Operational Address

:

131 Nguyen Du St Hoa Binh Area Hoa Lac Precint, Mong Cai, Quang Ninh

Issuing Authority

:

Dept. of Planning & Investment - Quang Ninh

License Number

:

5700623577

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

:

25 Jun, 2009

Employees

:

30

Capital

:

US$ 520,252

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.

DIRECTORS/MANAGEMENT

 

Key Person

Legal Title

:

Managing Director

Name

:

Mr. Pham Van Luan

Nationality

:

Vietnamese

 

COMPANY MANAGEMENT

 

Management Listings

 

 

Name

Nationality

Job Description

Dept. / Division

1

Ms. Pham Thi Thuy

Vietnamese

Chief Accountant

-

 

 

Management Details - 1

Personal Unique Identifier

:

MI03784948

Name

:

Ms. Pham Thi Thuy

 

Date of Birth

:

1984

 

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03579655

Name

:

Mr. Pham Van Luan

Date of Birth

:

1978

 

 

NEGATIVE INFORMATION

 

REPUTATION

 

Reference checking for the purpose of establishing HA UYEN 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

:

₫ 11,000,000,000

Paid-up Capital

:

₫ 11,000,000,000

 

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 Van Luan

Vietnam

n/a

6,270,000,000

57.00

2

Mr. Nguyen Thi Tu A

h

Vietnam

n/a

4,730,000,000

43.00

Total

n/a

11,000,000,000

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

 

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

Year

Imports

Exports

Total

2011

n/a

12,427,556

12,427,556

2012

n/a

15,992,290

15,992,290

 

DOMESTIC SALES & PURCHASES

Annual Sales Analysis

Percentage

Domestic Sales

0%

International Sales (Export)

100%

 

Annual Purchases Analysis

Percentage

Local Purchases

40%

Imports

60%

PAYMENT TERMS

 

Selling

 

Type

Terms

Export

Letter of Credit (At-sight)

Documents against Acceptance (D/A)

 

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

 

N/a

 

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

Year

Sales

Assets

Net Income

2011 Annual  

12,427,556

5,503,313

2,640

2012 Annual (*)

15,992,290

6,259,214

3,505

 

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

2011 Annual

2012 Annual

Current Assets(*)

114,399,000,000

130,155,000,000

Non Current Assets(*)

235,000,000

191,000,000

Other long term assets 

Total Assets(*)

114,634,000,000

130,346,000,000

Total Liabilities(*)

112,726,000,000

106,368,000,000

Current Liabilities(*)

112,726,000,000

106,368,000,000

Long term liabilities 

Shareholders Funds(*)

1,908,000,000

23,978,000,000

 

Current assets & short term investments

114,399,000,000

130,155,000,000

Cash & cash equivalents

10,964,000,000

811,000,000

Cash

10,964,000,000

811,000,000

Accounts receivable

100,778,000,000

128,553,000,000

Accounts receivable trade

100,778,000,000

128,553,000,000

i. Inventories

2,437,000,000

791,000,000

ii. Inventories

2,437,000,000

791,000,000

Other short term asset

220,000,000

0

VAT deductible

220,000,000

0

Long term assets

235,000,000

191,000,000

Fixed assets

235,000,000

191,000,000

Tangible fixed assets

235,000,000

191,000,000

Cost

324,000,000

324,000,000

Accumulated depreciation

89,000,000

133,000,000

Total assets

114,634,000,000

130,346,000,000

Liabilities

112,726,000,000

106,368,000,000

Current liabilities

112,726,000,000

106,368,000,000

Accounts payables-trade

112,677,000,000

106,292,000,000

Taxes and payable to state budget

49,000,000

76,000,000

i. Owner's equity

1,908,000,000

23,978,000,000

ii. Owner's equity

1,908,000,000

23,978,000,000

Business capital

1,854,000,000

23,854,000,000

Retained earnings

54,000,000

124,000,000

Total resources

114,634,000,000

130,346,000,000

 

Note: (*)

Financial Highlights

 

Income Statement

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2011 Annual

2012 Annual

Turnover(*)

258,866,000,000

333,034,000,000

Profit (Loss) Before Tax(*)

73,000,000

97,000,000

Profit After Tax attributable to Shareholders(*)

55,000,000

73,000,000

 

Gross sales

258,866,000,000

333,034,000,000

Net income

258,866,000,000

333,034,000,000

Cost of goods sold

254,369,000,000

303,408,000,000

Gross margin

4,497,000,000

29,626,000,000

Income from financial activities

54,000,000

3,000,000

Expenses from financial activities

262,000,000

0

General & administration expenses

4,216,000,000

30,671,000,000

Net income from operating activities

73,000,000

(1,042,000,000)

Extraordinary income

0

1,139,000,000

Extraordinary gains

0

1,139,000,000

Net profit before tax

73,000,000

97,000,000

Income tax

18,000,000

24,000,000

Net profit after tax

55,000,000

73,000,000

 

Note: (*)

Financial Highlights

 

Financial Ratios

Financial Highlights

2011 Annual

2012 Annual

Growth % 

Year-on-Year Growth

-

28.65

Profitability 

Profit Margin (%)

0.02

0.02

Return on Equity (%)

2.88

0.30

Return on Assets (%)

0.05

0.06

Leverage 

Total Debt Equity (Times)

59.08

4.44

Current Debt Equity (Times)

59.08

4.44

Total Asset To Total Equity

60.08

5.44

Asset Management 

Total Assets Turnover (Times)

2.26

2.55

Fixed Assets Turnover (Times)

1,101.56

1,743.63

Liquidity 

Current Ratio

1.01

1.22

 

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

 

Report Details

 

 

Country

:

Vietnam

Business Entity Name

:

HA UYEN CO LTD

Primary Business Activity

:

Trader

Primary Industry

:

Agricultural Products

Office Contact Details

Operating Address

:

131 Nguyen Du St Hoa Binh Area Hoa Lac Precint, Mong Cai, Quang Ninh

Tel

:

[+84] 33-3772092

Mobile

:

[+84]-919778227

 

:

[+84]-906125888

Fax

:

[+84] 33-3772047

Email

:

luantayan@yahoo.com

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

:

5700623577

Date of Issuance

:

8 Jan, 2007

 

Primary Products

Products / Materials / Services Description

Activity

Agricultural products

Trading

Chili

Trading

Field beans

Trading

Grain

Trading

Peanuts

Trading

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Agricultural Production-Crops

0100

Trading

Food products, nspf

2099

Trading

Grain & Field Beans

5153

Trading

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Beans (vigna spp., phaseolus spp.), fresh or chilled

0708200000

Trading

Cereal grains, worked etc nesoi; cereal germs

1104

Trading

Food preparations

2106

Trading

Peanuts (ground-nuts), raw

1202

Trading

 

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

Products / Materials / Services Description

Ranking

Activity

Sesame

Primary

Trading

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of HA UYEN CO LTD is Trading - Finished products.

Key products include :

Agricultural products

Chili

Field beans

Grain

Peanuts

Sesame

 

 

Supplementary Business

In addition to the core business, HA UYEN CO LTD also is engaged in the following areas of business:

Exporting

Exporting - Finished products

Importing

Importing - Finished products

 

BANK DETAILS

Bank Name

:

ASIA COMMERCIAL JOINT STOCK BANK

Global Identifier

:

P0075118

Branch

:

District 3,Ho Chi Minh

Branch Address

:

ASIA COMMERCIAL BANK, QUANG NINH

SWIFT Code

:

ASCBVNVX

 

Bank Name

:

VIETNAM BANK FOR AGRICULTURE & RURAL DEVELOPMENT

Global Identifier

:

32408794

Branch

:

Tu Liem,Hanoi

Branch Address

:

VIETNAM BANK FOR AGRICULTURE

SWIFT Code

:

VBAAVNVX

 

Bank Name

:

VIETNAM INTERNATIONAL COMMERCIAL JOINT STOCK BANK

Global Identifier

:

P2461558

Branch Address

:

VIETNAM INTERNATIONAL COMMERCIAL JOINT STOCK BANK - MONG CAI, QUANG NINH

SWIFT Code

:

VNIBVNVX

 

 

INTERNATIONAL TRADE - Activity & Markets

 

 

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing, Exporting

China

Medium

Importing, Exporting

India

Medium

Importing

Myanmar

Medium

Importing

 

 

 

 

OFFICE & FACILITIES

 

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

 

Name

:

HA UYEN CO LTD - MONG CAI, QUANG NINH

Primary Use

:

Office & Administration facilities

Address

:

131 Nguyen Du St Hoa Binh Area Hoa Lac Precint, Mong Cai, Quang Ninh

Country

:

Vietnam

Status

:

Operational

 

 

 

 

PREVIOUS CONTACT DETAILS

 

Company Address

:

10B Dan Tien Hoa Lac Precinct, Mong Cai, Quang Ninh

Date of Relocation

:

2012

 

Company Address

:

1 Dan Tien St Hoa Lac Ward, Mong Cai, Quang Ninh

 

 

 

 

PREVIOUS BUSINESS LICENSE/S

 

License Date

License No.

11 Dec, 2006

2202001429

 

 

 

 

NOTES & COMMENTS

 

N/a

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.74

UK Pound

1

Rs.98.87

Euro

1

Rs.77.32

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

SHG

 

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.