MIRA INFORM REPORT

 

 

Report Date :

12.07.2014

 

IDENTIFICATION DETAILS

 

Name :

BPWOOD VIET NAM CO LTD

 

 

Registered Office :

205 B4A Tan Mai Ward, Hoang Mai Dist, Hanoi

 

 

Country :

Vietnam

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

07.09.2012

 

 

Legal Form :

Company Limited

 

 

Line of Business :

Manufacturer of Plywood, Timber & Wood Products

 

 

No. of Employees :

50

 

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 – March 31, 2014

 

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

Vietnam

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

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

:

BPWOOD VIET NAM CO LTD(1)

Address

:

205 B4A Tan Mai Ward, Hoang Mai Dist, Hanoi

Country

:

Vietnam

Phone (S)

:

[+84] 4-36285989

Facsimile

:

[+84] 4-36285989

Primary Business Activity

:

Manufacturer

Key Industry

:

Plywood, Timber & Wood Products

 

 

DIRECTORS/MANAGEMENT

 

 Key Person

Legal Title

:

Managing Director

Name

:

Ms. Nguyen Thi Lan

Nationality

:

Vietnamese

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Ms. Nguyen Lan Huong

Vietnamese

Chief Accountant

-

2

Ms. Nguyen Van Phong

Vietnamese

Vice Director

-

Management Details - 1

Personal Unique Identifier

:

MI03738451

Name

:

Ms. Nguyen Lan Huong

 

Management Details - 2

Personal Unique Identifier

:

MI03738448

Name

:

Ms. Nguyen Van Phong

 

 

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03738443

Name

:

Ms. Nguyen Thi Lan

 

 

NEGATIVE INFORMATION

 

REPUTATION

Due to the recent incorporation of the BPWOOD VIET NAM CO LTD, and the relatively small nature of its business, no meaningful points of reference in terms of reputation within the respective industry was possible.

 

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

:

US$ 136,801

 

CAPITAL (Currency: VND - Vietnam Dong)

Authorized Capital

:

₫ 2,900,000,000

 

SHAREHOLDERS

Total number of shareholders

:

2

Total number of shares

:

n/a

 

Currency

:

VND - Vietnam Dong

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

Ms. Nguyen Thi Lan

Vietnam

n/a

n/a

50.00

2

Ms. Nguyen Van Phong

Vietnam

n/a

n/a

50.00

Total

n/a

n/a

100.00

 

Today's Exchange rate

:

1.00 VND
Vietnam Dong

=

0.000047 USD
United States Dollars

 

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

 

DOMESTIC SALES & PURCHASES

Annual Sales Analysis

Percentage

Domestic Sales

70%

International Sales (Export)

30%

Annual Purchases Analysis

Percentage

Local Purchases

100%

Imports

0%

 

PAYMENT TERMS

Selling

Type

Terms

Local

Cash on delivery (COD)

Export

Letter of Credit (At-sight)

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

Purchasing

Type

Terms

Local

Cash on delivery (COD)

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

N/a

 

 

FINANCIAL INFORMATION

 

 Financials - Summary  (Currency: USD - US Dollar)

Year

Sales

Assets

Net Income

2013 Annual  

238,903

158,478

17,925

 

FINANCIAL STATEMENT - DETAILED

Balance Sheet

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2013 Annual

Current Assets

3,342,000,000

Share Capital

2,900,000,000

Other long term assets 

Total Assets

3,342,000,000

Total Liabilities

66,000,000

Current Liabilities

66,000,000

Long term liabilities 

Shareholders Funds

3,276,000,000

 

Current assets & short term investments

3,342,000,000

Cash & cash equivalents

834,000,000

Cash

834,000,000

Accounts receivable

1,067,000,000

Accounts receivable trade

1,067,000,000

Inventories

1,387,000,000

Inventories I

1,387,000,000

Other short term asset

54,000,000

VAT deductible

54,000,000

Total assets

3,342,000,000

Liabilities

66,000,000

Current liabilities

66,000,000

Taxes and payable to state budget

66,000,000

Owner's equity

3,276,000,000

Owner's equity I

3,276,000,000

Business capital

2,900,000,000

Retained earnings

376,000,000

Total resources

3,342,000,000

Income Statement

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2013 Annual

Turnover

5,038,000,000

Profit (Loss) Before Tax

503,000,000

Profit After Tax attributable to Shareholders

378,000,000

 

Gross sales

5,038,000,000

Net income

5,038,000,000

Cost of goods sold

4,315,000,000

Gross margin

723,000,000

Income from financial activities

6,000,000

General & administration expenses

226,000,000

Net income from operating activities

503,000,000

Net profit before tax

503,000,000

Income tax

125,000,000

Net profit after tax

378,000,000

 

Financial Ratios

Financial Highlights

2013 Annual

Profitability 

Profit Margin (%)

7.50

Return on Equity (%)

11.54

Return on Assets (%)

11.31

Leverage 

Total Debt Equity (Times)

0.02

Current Debt Equity (Times)

0.02

Total Asset To Total Equity

1.02

Asset Management 

Total Assets Turnover (Times)

1.51

Liquidity 

Current Ratio

50.64

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

 

N/a

 

ADDITIONAL INFORMATION

 

Key Facts

Registered Legal Address

:

205 B4A Tan Mai Ward, Hoang Mai Dist, Hanoi

Operational Address

:

205 B4A Tan Mai Ward, Hoang Mai Dist, Hanoi

Issuing Authority

:

Dept. of Planning & Investment - Hanoi

License Number

:

0105986735

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

:

7 Sep, 2012

Employees

:

50

 

Report Details

Country

:

Vietnam

Business Entity Name

:

BPWOOD VIET NAM CO LTD

Primary Business Activity

:

Manufacturer

Primary Industry

:

Plywood, Timber & Wood Products

Office Contact Details

Operating Address

:

205 B4A Tan Mai Ward, Hoang Mai Dist, Hanoi

Tel

:

[+84] 4-36285989

Fax

:

[+84] 4-36285989

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

:

0105986735

Date of Issuance

:

7 Sep, 2012

 

 

 Primary Products

Products / Materials / Services Description

Activity

Plywoods

Manufacturing, Exporting

Wood products

Manufacturing, Exporting

 

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

 

Product/Service Description

Code

Activity

Hardwood veneer and plywood

2435

Manufacturing, Exporting

Lumber/Plywood/Millwork

5031

Manufacturing, Exporting

Softwood veneer and plywood

2436

Manufacturing, Exporting

 

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Plywood

4412995000

Manufacturing, Exporting

Plywood, veneered panels & similar laminated wood

4412

Manufacturing, Exporting

 

 

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of BPWOOD VIET NAM CO LTD is Manufacturing - Finished products.

Key products include:

Wood products

Plywoods


An integral part of the core business includes:

Distribution

Supplementary Business

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

Exporting

Exporting - Finished products

 

BANK DETAILS

Bank Name

:

VIETNAM PROSPERITY JOINT STOCK COMMERCIAL BANK

Global Identifier

:

P1854843

Branch

:

Hoan Kiem Dist,Hanoi

Branch Address

:

VIETNAM PROSPERITY JOINT STOCK COMMERCIAL BANK - HANOI

SWIFT Code

:

VPBKVNVX

 

 

 

 

INTERNATIONAL TRADE - Activity & Markets

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Exporting

 

 

OFFICE & FACILITIES

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

Name

:

BPWOOD VIET NAM CO LTD - HOANG MAI DIST, HANOI

Primary Use

:

Office & Administration facilities

Address

:

205 B4A Tan Mai Ward, Hoang Mai Dist, Hanoi

Country

:

Vietnam

Status

:

Operational

 

 

 

NOTES & COMMENTS

 

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.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.19

UK Pound

1

Rs.103.15

Euro

1

Rs.81.87

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NNA

 

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.