MIRA INFORM REPORT
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Report Date : |
12.06.2014 |
IDENTIFICATION DETAILS
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Name : |
PHUONG MINH
SERVICE AND TRADING INVESTMENT CO LTD |
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Registered Office : |
10/49 Lane Thinh Hao 1 Ton Duc Thang St Hang Bot Ward, Dong Da, Hanoi |
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Country : |
Vietnam |
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Date of Incorporation : |
09.03.2006 |
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Legal Form : |
Private Company with Limited Liability |
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Line of Business : |
Importer of Textile Chemicals |
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No of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 – March 31, 2014
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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.
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Source
: CIA |
REGISTERED
NAME & COMPANY SUMMARY
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Company Details |
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Organization
Name |
: |
PHUONG
MINH SERVICE AND TRADING INVESTMENT CO LTD |
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Address |
: |
10/49 Lane Thinh Hao 1 Ton Duc Thang St Hang Bot Ward,
Dong Da, Hanoi |
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Country |
: |
Vietnam |
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Phone
(S) |
: |
[+84]
4-37323772 |
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Facsimile |
: |
[+84]
4-37323772 |
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Primary Business
Activity |
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Importer |
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Key
Industry |
: |
Chemicals |
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Key Facts |
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Registered Legal Address |
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10/49 Lane Thinh Hao 1 Ton Duc Thang St Hang Bot
Ward, Dong Da, Hanoi |
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Operational
Address |
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10/49
Lane Thinh Hao 1 Ton Duc Thang St Hang Bot Ward, Dong Da, Hanoi |
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Trading
Name |
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PHUONG
MINH IST CO LTD |
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Issuing
Authority |
: |
Dept.
of Planning & Investment - Hanoi |
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License
Number |
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0102025191 |
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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 |
: |
Company
Limited |
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Legal
Form - Abbreviation |
: |
CO
LTD |
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Operational
Status of Business |
: |
Normal |
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Date
of Registration |
: |
9
Mar, 2006 |
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Employees |
: |
10 |
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Capital |
: |
US$ 37,933 |
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Note |
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(1) Legal status of the
English corporate name |
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Report Details |
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DIRECTORS/MANAGEMENT
Key Person
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Legal Title |
: |
Managing Director |
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Name |
: |
Ms. Truong Thi Minh Hai |
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Nationality |
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Vietnamese |
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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 PHUONG MINH
SERVICE AND TRADING INVESTMENT 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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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. Therefore no financials are available
for this entity. |
FOREIGN
EXCHANGE RATES
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Today's Exchange rate |
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ADDITIONAL
INFORMATION
Primary Products
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Products / Materials / Services Description |
Activity |
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Textile chemicals |
Importing |
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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 PHUONG MINH SERVICE AND TRADING INVESTMENT
CO LTD is Importing - Finished products. Key product include :
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DOMESTIC SALES & PURCHASES |
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BANK DETAILS |
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INTERNATIONAL TRADE - Activity & Markets |
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REAL ESTATE OWNERSHIP |
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The following property / ies are owned by PHUONG MINH SERVICE AND
TRADING INVESTMENT CO LTD : |
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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.59.33 |
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UK Pound |
1 |
Rs.99.42 |
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Euro |
1 |
Rs.80.32 |
INFORMATION DETAILS
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Analysis Done by
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RAS |
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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.