MIRA INFORM REPORT
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Report Date : |
13.06.2014 |
IDENTIFICATION DETAILS
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Name : |
HUNG LOC
TECHNICAL & SERVICES TRADING CO LTD |
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Registered Office : |
25-A30 Mai Huong Phuong Bach Mai Quan, Hai Ba Trung Dist, Hanoi |
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Country : |
Vietnam |
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Date of Incorporation : |
21.10.2009 |
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Legal Form : |
Private Company with Limited Liability |
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Line of Business : |
Importer & Trader of Chemical Products |
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No of Employees : |
16 |
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
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Vietnam |
B1 |
B1 |
|
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 |
|
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
|
Organization Name |
: |
HUNG LOC TECHNICAL & SERVICES TRADING CO LTD(1) |
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Address |
: |
9 Area 3 Au Co St Group 21 Tu Lien Ward, Tay Ho, Hanoi |
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Country |
: |
Vietnam |
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Phone (S) |
: |
[+84] 4-37100588 |
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Facsimile |
: |
[+84] 4-37100589 |
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Primary Business Activity |
: |
Trader |
|
Key Industry |
: |
Chemicals |
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Registered Legal Address |
: |
25-A30 Mai Huong Phuong Bach Mai
Quan, Hai Ba Trung Dist, Hanoi |
|
Operational Address |
: |
9 Area 3 Au Co St Group 21 Tu
Lien Ward, Tay Ho, Hanoi |
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Issuing Authority |
: |
Dept. of Planning & Investment - Hanoi |
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License Number |
: |
0104217536 |
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License Status |
: |
License exists - Normal. |
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Legal Form - Category |
: |
Private Company with Limited Liability |
|
Legal Form |
: |
Company Limited |
|
Legal Form - Abbreviation |
: |
CO LTD |
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Operational Status of Business |
: |
Normal |
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Date of Registration |
: |
21 Oct, 2009 |
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Employees |
: |
16 |
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Capital |
: |
US$ 92,461 |
|
Note |
: |
(1)
Legal status of the English corporate name |
|
Country |
: |
Vietnam |
|
Business Entity Name |
: |
HUNG LOC TECHNICAL & SERVICES TRADING CO LTD |
|
Primary Business Activity |
: |
Trader |
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Primary Industry |
: |
Chemicals |
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Office Contact Details |
||
|
Operating Address |
: |
9 Area 3 Au Co St Group 21 Tu Lien Ward, Tay Ho, Hanoi |
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Tel |
: |
[+84] 4-37100588 |
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Fax |
: |
[+84] 4-37100589 |
DIRECTORS/MANAGEMENT
Key Person
|
Legal Title |
: |
Managing Director |
|
Name |
: |
Mr. Chu Thanh Tung |
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Nationality |
: |
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 HUNG LOC TECHNICAL
& SERVICES TRADING 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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Total number of shareholders |
: |
2 |
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Total number of shares |
: |
n/a |
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Currency |
: |
VND - Vietnam Dong |
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No. |
Shareholders |
Country |
Shares |
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Number |
Amount (VND) |
% |
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1 |
Mr. Chu Thanh Tung |
Vietnam |
n/a |
n/a |
51.30 |
|
2 |
Ms. Trinh Thi Hong Huong |
Vietnam |
n/a |
n/a |
48.70 |
|
Total |
n/a |
n/a |
100.00 |
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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
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DOMESTIC SALES & PURCHASES |
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PAYMENT TERMS |
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Selling |
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Purchasing |
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FINANCIAL
INFORMATION
FINANCIAL
STATEMENT – DETAILED
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
|
Products / Materials / Services Description |
Activity |
|
Chemicals |
Importing, Trading |
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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 HUNG LOC TECHNICAL & SERVICES
TRADING CO LTD is Trading - Finished products. Chemicals |
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Supplementary Business |
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In addition to the core business, HUNG LOC TECHNICAL & SERVICES
TRADING CO LTD also is engaged in the following areas of business: Importing Importing - Finished products |
INTERNATIONAL
TRADE - Activity & Markets
|
Country / Region |
Estimated level of importance |
Trading Activity |
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Asia / Pacific |
Medium |
Importing |
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India |
Medium |
Importing |
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OFFICE & FACILITIES |
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The following information relates to the Business Entity's office as
listed above: |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.33 |
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UK Pound |
1 |
Rs.99.68 |
|
Euro |
1 |
Rs.80.30 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
|
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 |
|
<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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.