MIRA
INFORM REPORT
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Report Date : |
16.01.2014 |
IDENTIFICATION DETAILS
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Name : |
VIET NA INOX CO LTD |
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Registered Office : |
131/6/1/40 D11 Tay Lan Khu Pho 7 Binh Tri Dong A Ward, Binh Tan Dist,
Ho Chi Minh |
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Country : |
Vietnam |
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Financials (as on) : |
December 2012 |
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Date of Incorporation : |
March 2012 |
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Legal Form : |
Private Company with Limited Liability |
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Line of Business : |
Importer & Trader of Industrial equipment, Industrial machinery, Inox, Metal & Stainless steel products |
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No. of Employees : |
38 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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Vietnam |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 policy away 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%.
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Source : CIA |
REGISTERED NAME & COMPANY
SUMMARY
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Company Details |
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Organization
Name |
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VIET
NA INOX CO LTD |
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Address |
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131/6/1/40
D11 Tay Lan Khu Pho 7 Binh Tri Dong A Ward, Binh Tan Dist, Ho Chi Minh |
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Country |
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Vietnam |
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Phone
(S) |
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[+84]
8-73063839 |
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Facsimile |
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[+84]
8-73002525 |
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Email |
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Primary Business
Activity |
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Importer |
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Key
Industry |
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Metals
& Metal Products |
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Key Facts |
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Registered Legal Address |
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131/6/1/40 D11 Tay Lan Khu Pho 7 Binh Tri Dong A Ward,
Binh Tan Dist, Ho Chi Minh |
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Operational
Address |
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131/6/1/40
D11 Tay Lan Khu Pho 7 Binh Tri Dong A Ward, Binh Tan Dist, Ho Chi Minh |
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Trading
Name |
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VINAINOX |
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Issuing
Authority |
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Dept.
of Planning & Investment - Ho Chi Minh |
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License
Number |
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0303266714 |
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License
Status |
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License
exists - Normal. |
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Legal
Form – Category |
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Private
Company with Limited Liability |
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Legal
Form |
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Company
Limited |
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Legal
Form - Abbreviation |
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CO
LTD |
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Operational
Status of Business |
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Normal |
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Date
of Registration |
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Mar,
2012 |
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Employees |
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38 |
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Capital |
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US$ 237,101 |
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Report Details |
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Financials - Summary (Currency: USD - US Dollar)
Sales Trend – Analysis
Note: (*) Financials listed are the most recent available for this company. Primary Products
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DIRECTORS/MANAGEMENT
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COMPANY MANAGEMENT |
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Management Listings |
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COMPANY DIRECTORS |
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NEGATIVE INFORMATION
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REPUTATION |
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Reference checking for the purpose of establishing the VIET NA INOX CO
LTD's reputation within the respective industry failed to reveal any adverse
information. |
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NEGA-SCAN - ADVERSE DATA MONITORING |
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SHARE & SHARE CAPITAL
INFORMATION
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CAPITAL (Currency: VND - Vietnam Dong) |
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SHAREHOLDERS |
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PAYMENT INFORMATION
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PAYMENT TERMS |
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Selling |
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Purchasing |
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FINANCIAL INFORMATION
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FINANCIAL STATEMENT - DETAILED |
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Balance Sheet |
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Income Statement |
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Financial Ratios |
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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 financials were obtained for reference. |
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ADDITIONAL INFORMATION
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SIC PRODUCT CLASSIFICATION & ACTIVITY |
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HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY |
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CORE BUSINESS DESCRIPTION |
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Core Business |
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The primary business focus of VIET NA INOX CO LTD is Importing -
Finished products. ·
Industrial equipment ·
Industrial machinery ·
Inox ·
Metal products ·
Stainless steel products |
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Supplementary Business |
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In addition to the core business, VIET NA INOX CO LTD also is engaged
in the following areas of business: 1.
Trading ·
Trading - Finished products |
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DOMESTIC SALES & PURCHASES |
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BANK DETAILS |
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LOCAL BRANCHES & MANAGEMENT |
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INTERNATIONAL TRADE - Activity & Markets |
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OFFICE & FACILITIES |
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PREVIOUS CONTACT DETAILS |
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PREVIOUS BUSINESS LICENSE/S |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.59 |
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UK Pound |
1 |
Rs.101.09 |
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Euro |
1 |
Rs.83.99 |
INFORMATION DETAILS
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.