MIRA INFORM REPORT

 

 

Report Date :

18.02.2014

 

IDENTIFICATION DETAILS

 

Name :

REPRESENTATIVE OFFICE OF SIA (TENAMYD CANADA) INC IN HANOI, THE

 

 

Registered Office :

23 Kim Dong St, Hoang Mai Dist, Hanoi

 

 

Country :

Vietnam

 

 

Date of Incorporation :

14.05.1994

 

 

Legal Form :

Branch Office of Overseas Company

 

 

Line of Business :

Importer of Medical Equipment & Pharmaceutical

 

 

No of Employees :

10

 

 

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 :

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 – december 01, 2013

 

Country Name

Previous Rating

(30.09.2013)

Current Rating

(01.12.2013)

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 22% in 2012, while industry's share increased from 36% to nearly 41% in the same period. State-owned enterprises account for roughly 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 2012 growing at 5%, the slowest rate of growth since 1999. In 2012, however, exports increased by more than 18%, 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 stable in 2012. Foreign direct investment inflows fell 4.5% to $10.5 billion in 2012. Foreign donors have pledged $6.5 billion in new development assistance for 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 had been made by early 2013. Vietnam's economy continues to face challenges from an undercapitalized banking sector. Non-performing loans weigh heavily on banks and businesses. In September 2012, the official bad debt ratio climbed to 8.8%, though some independent analysts believe it could be higher than 15%.

 

Source : CIA

 

 

REGISTERED NAME & COMPANY SUMMARY

 

Company Details

 

Organization Name

:

REPRESENTATIVE OFFICE OF SIA (TENAMYD CANADA) INC IN HANOI, THE

Address

:

23 Kim Dong St, Hoang Mai Dist, Hanoi

Country

:

Vietnam

Phone (S)

:

[+84] 4-36641224

Facsimile

:

[+84] 4-36641222

Email

:

tenamydcanada@yahoo.com

Primary Business Activity

:

Importer

Key Industry

:

Medical Equipment & Pharmaceutical

 

Key Facts

 

Operational Address

:

23 Kim Dong St, Hoang Mai Dist, Hanoi

Trading Name / DBA

 

SOCIETE IMMO ASIE TENAMYD CANADA

Issuing Authority

:

Ministry of Industry & Trade - National

License Number

:

974/TM-GP

License Status

:

License exists - Normal.

Legal Form - Category

:

Branch Office of Overseas Company

Legal Form

:

Not Applicable

Legal Form - Abbreviation

:

Due to the type of license, there is no "Legal Form - Abbreviation" applicable

Operational Status of Business

:

Normal

Date of Registration

:

14 May, 1994

Employees

:

10

Capital

:

n/a(1)

Note

:

1)     Not applicable.

According to the corporate statutory laws for this type of Legal Form - Category(Branch Office of Overseas Company) in Vietnam, there is no requirement for Authorized Capital.

 

Report Details

 

 

 

 

Country

:

Vietnam

Business Entity Name

:

REPRESENTATIVE OFFICE OF SIA (TENAMYD CANADA) INC IN HANOI, THE

Primary Business Activity

:

Importer

Primary Industry

:

Medical Equipment & Pharmaceutical

Office Contact Details

Operating Address

:

23 Kim Dong St, Hoang Mai Dist, Hanoi

Tel

:

[+84] 4-36641224

Fax

:

[+84] 4-36641222

Email

:

tenamydcanada@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

:

0101541291

 

DIRECTORS/MANAGEMENT

 

COMPANY MANAGEMENT

 

 

 

Management Listings

 

 

Name

Nationality

Job Description

Dept. / Division

1

Mr. Tuong-Hung Bui

Vietnamese

Chief Representative

-

 

 

Management Details - 1

Personal Unique Identifier

:

MI03628886

Name

:

Mr. Tuong-Hung Bui

 

 

 

 

COMPANY DIRECTORS

 

 

 

Not applicable - According to the corporate statutory laws for this type of Legal Form - Category (Branch Office of Overseas Company) in Vietnam, there is no requirement for Directors.

 

 

 

 

INTERNATIONAL TRADE - Activity & Markets

 

 

 

 

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing

Canada

Medium

Importing

India

Medium

Importing

USA

Medium

Importing

 

 

 

 

OFFICE & FACILITIES

 

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

 

Name

:

REPRESENTATIVE OFFICE OF SIA (TENAMYD CANADA) INC IN HANOI, THE - HOANG MAI DIST, HANOI

Primary Use

:

Office & Administration facilities

Address

:

23 Kim Dong St, Hoang Mai Dist, Hanoi

Country

:

Vietnam

Status

:

Operational

 

NEGATIVE INFORMATION

 

 

NEGA-SCAN - ADVERSE DATA MONITORING

 

 

 

 

DISHONORED CHECKS

 

No Record Found

 

 

DEBT

 

No Record Found

 

 

LITIGATION

 

No Record Found

 

 

PERFORMANCE DEFAULTS

 

No Record Found

 

 

ADVERSE LOCAL MEDIA COVERAGE / ADVERSE FILING HISTORY

 

No Record Found

 

http://www.asiancredit.com/Manage/Image/space.gif

 

SHARE & SHARE CAPITAL INFORMATION

 

SHAREHOLDERS

 

 

Total number of shareholders

:

1

Total number of shares

:

n/a

 

Currency

:

VND - Vietnam Dong

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

SIA (TENAMYD CANADA) INC

Canada

n/a

n/a

100.00

Total

n/a

n/a

100.00

 

Today's Exchange rate

:

1.00 VND
Vietnam Dong

=

0.000047 USD
United States Dollars

 

 

PAYMENT INFORMATION

 

 

DOMESTIC SALES & PURCHASES

 

 

 

Annual Sales Analysis

Percentage

Domestic Sales

100%

International Sales (Export)

0%

http://www.global-creditreports.com/image/pie/Domestic_Sales_100.png

 

Annual Purchases Analysis

Percentage

Local Purchases

0%

Imports

100%

http://www.global-creditreports.com/image/pie/Domestic_Sales_0.png

 

PAYMENT TERMS

 

Selling

Type

Terms

Local

Cash on delivery (COD)

Credit - Secured with Post-dated checks 30~60 days

 

Purchasing

Type

Terms

Import

Letter of Credit (At-sight)

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

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

DIRECT / INDIRECT CORPORATE PARENT DETAILS

 

Direct Parent

:

SIA (TENAMYD CANADA) INC

Global Identifier

:

P2970877

Legal Form Category

:

Private Company with Limited Liability

Country

:

Canada

 

FINANCIAL INFORMATION

 

FINANCIAL STATEMENT - DETAILED

 

Based on the corporate laws of Vietnam, legal entities which are Branch Office of Overseas 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

 

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Product/Service Description

Code

Activity

Pharmaceutical preparations

2834

Importing

Toilet preparations

2844

Importing

 

 

 

 

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Product/Service Description

Code

Activity

Cosmetic creams, lotions, oils and balms

3304990010

Importing

Pharmaceutical products

3000

Importing

Powder puffs & pads for application of cosmetics & toilet preparations

9616200000

Importing

 

 

 

 

CORE BUSINESS DESCRIPTION

 

 

 

Core Business

 

 

The primary business focus of REPRESENTATIVE OFFICE OF SIA (TENAMYD CANADA) INC IN HANOI, THE is Importing - Finished products.

 

Key products include :

  • Pharmaceutical products
  • Cosmetics


An integral part of the core business includes:

  • Distribution

 

 

 

Supplementary Business

 

 

In addition to the core business, REPRESENTATIVE OFFICE OF SIA (TENAMYD CANADA) INC IN HANOI, THE also is engaged in the following areas of business:

  1. Trading
    • Trading - Finished products

 

 

REPUTATION

 

Reference checking for the purpose of establishing the REPRESENTATIVE OFFICE OF SIA (TENAMYD CANADA) INC IN HANOI, THE's reputation within the respective industry failed to reveal any adverse information.

 

BANK DETAILS

 

Bank Name

:

ANZ BANK (VIETNAM) LTD

Global Identifier

:

P1310499

Branch

:

District 1,Ho Chi Minh

Branch Address

:

ANZ BANK (VIETNAM) LTD - HANOI

SWIFT Code

:

This bank does not have a SWIFT Code

 

NOTES & COMMENTS

 

N/a

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 61.95

UK Pound

1

Rs. 104.02

Euro

1

Rs. 84.95

 

 

INFORMATION DETAILS

 

Report Prepared by :

DPT

 

 

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.