MIRA INFORM REPORT

 

 

Report Date :

19.07.2014

 

IDENTIFICATION DETAILS

 

Name :

LANG SON FOREST PRODUCTS JSC

 

 

Registered Office :

Km 3 Hamlet 5 Hop Thanh Commune, Cao Loc, Lang Son

 

 

Country :

Vietnam

 

 

Date of Incorporation :

24.11.2008

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Trader of Plywood, Timber & Wood Products

 

 

No. of Employees :

150

 

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

:

LANG SON FOREST PRODUCTS JSC

Address

:

Km 3 Hamlet 5 Hop Thanh Commune, Cao Loc, Lang Son

Name in Local Language

:

CONG TY CO PHAN LAM SAN LANG SON

Country

:

Vietnam

Phone (S)

:

[+84] 25-3879818

Facsimile

:

[+84] 25-3879818

Primary Business Activity

:

Trader

Key Industry

:

Plywood, Timber & Wood Products

 

Key Facts

 

Registered Legal Address

:

Km 3 Hamlet 5 Hop Thanh Commune, Cao Loc, Lang Son

Operational Address

:

Km 3 Hamlet 5 Hop Thanh Commune, Cao Loc, Lang Son

Trading Name

:

LAFOSCO

Issuing Authority

:

Dept. of Planning & Investment - Lang Son

License Number

:

4900288395

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

:

24 Nov, 2008

Employees

:

150

Capital

:

US$ 707,591

 

Report Details

Country

:

Vietnam

Business Entity Name

:

LANG SON FOREST PRODUCTS JSC

Primary Business Activity

:

Trader

Primary Industry

:

Plywood, Timber & Wood Products

Office Contact Details

Operating Address

:

Km 3 Hamlet 5 Hop Thanh Commune, Cao Loc, Lang Son

Tel

:

[+84] 25-3879818

Mobile

:

[+84]-964410111

Fax

:

[+84] 25-3879818

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

:

4900288395

 

 

DIRECTORS/MANAGEMENT

 

Key Person

Legal Title

:

Chairman

Name

:

Mr. Pham Ngoc Son

Nationality

:

Vietnamese

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Ms. Nguyen Thi Tu

Vietnamese

Chief Accountant

-

2

Mr. Nguyen Xuan Tuan

Vietnamese

Managing Director

-

 

Management Details - 1

Personal Unique Identifier

:

MI03741941

Name

:

Ms. Nguyen Thi Tu

 

Date of Birth

:

1982

 

 

Management Details - 2

Personal Unique Identifier

:

MI03741932

Name

:

Mr. Nguyen Xuan Tuan

 

Date of Birth

:

1977

 

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03741932

Name

:

Mr. Nguyen Xuan Tuan

Date of Birth

:

1977

2

 

 

Personal Unique Identifier

:

MI03741935

Name

:

Mr. Pham Ngoc Son

Date of Birth

:

1965

 

 

NEGATIVE INFORMATION

 

REPUTATION

 

Reference checking for the purpose of establishing LANG SON FOREST PRODUCTS 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

 

DISHONORED CHECKS

 

No Record Found

 

 

DEBT

 

No Record Found

 

 

CIVIL LITIGATION

 

No Record Found

 

 

SHARE & SHARE CAPITAL INFORMATION

 

CAPITAL (Currency: VND - Vietnam Dong)

Authorized Capital

:

₫ 15,000,000,000

 

SHAREHOLDERS

Total number of shareholders

:

3

Total number of shares

:

n/a

 

Currency

:

VND - Vietnam Dong

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

Mr. Pham Ngoc Son

Vietnam

n/a

n/a

48.00

2

Mr. Hoang Minh Vu

Vietnam

n/a

n/a

41.00

3

Mr. Nguyen Xuan Tuan

Vietnam

n/a

n/a

11.00

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

 

PAYMENT TERMS

Selling

Type

Terms

Local

Cash on delivery (COD)

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

Export

Letter of Credit (At-sight)

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

Purchasing

Type

Terms

Local

Cash on delivery (COD)

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

Import

Letter of Credit (At-sight)

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

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Na

 

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

 

Primary Products

Products / Materials / Services Description

Activity

Forest products

Trading

Plywoods

Trading

Timber

Trading

Wood products

Trading

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Forestry products, nspf

0831

Trading

Hardwood veneer and plywood

2435

Trading

Logs, pulpwood, timber, poles, etc

2411

Trading

Lumber and Wood Products

2400

Trading

Wood products, nspf

2499

Trading

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Articles of wood

4421

Trading

Articles of wood

4421909850

Trading

Pine, logs and timber, in the rough, not treated

4403200030

Trading

Plywood

4412995000

Trading

Plywood, veneered panels & similar laminated wood

4412

Trading

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of LANG SON FOREST PRODUCTS JSC is Trading - Finished products.

Key products include :

Forest products

Plywoods

Timber

Wood products

Supplementary Business

 

In addition to the core business, LANG SON FOREST PRODUCTS JSC also is engaged in the following areas of business:

Exporting

Exporting - Finished products

Importing

Importing - Finished products

 

 

DOMESTIC SALES & PURCHASES

Annual Sales Analysis

Percentage

Domestic Sales

90%

International Sales (Export)

10%

 

Annual Purchases Analysis

Percentage

Local Purchases

90%

Imports

10%

 

BANK DETAILS

Bank Name

:

JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM

Global Identifier

:

P1072025

Branch

:

Hanoi

Branch Address

:

LANG SON

SWIFT Code

:

BFTVVNVX

Bank Name

:

JOINT STOCK COMMERCIAL BANK FOR INVESTMENT & DEVELOPMENT OF VIETNAM

Global Identifier

:

32400483

Branch

:

Hoan Kiem Dist,Hanoi

Branch Address

:

JOINT STOCK COMMERCIAL BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM - LANG SON, LANG SON

SWIFT Code

:

BIDVVNVX

Bank Name

:

VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY & TRADE

Global Identifier

:

32404058

Branch

:

Hoan Kiem Dist,Hanoi

Branch Address

:

VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE - LANG SON, LANG SON

SWIFT Code

:

ICBVVNVX

 

INTERNATIONAL TRADE - Activity & Markets

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing, Exporting

China

Medium

Exporting

India

Medium

Importing, Exporting

Singapore

Medium

Importing, Exporting

 

OFFICE & FACILITIES

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

Name

:

LANG SON FOREST PRODUCTS JSC - CAO LOC, LANG SON

Primary Use

:

Office & Administration facilities

Address

:

Km 3 Hamlet 5 Hop Thanh Commune, Cao Loc, Lang Son

Country

:

Vietnam

Status

:

Operational

 

 

NOTES & COMMENTS

 

Na

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.33

UK Pound

1

Rs.103.18

Euro

1

Rs.81.58

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

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.