MIRA
INFORM REPORT
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Report Date : |
17.06.2014 |
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) : |
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 of Metals & Metal Products |
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No. of Employees |
38 |
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 : |
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 – 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 |
Company name and address
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Organization Name |
: |
VIET NA INOX CO LTD(1) |
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Address |
: |
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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Phone (S) |
: |
[+84] 8-73063839 |
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Facsimile |
: |
[+84] 8-73002525 |
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|
: |
vinainox-saigon@hcm.fpt.vn |
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Website |
: |
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Primary Business Activity |
: |
Importer |
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Key Industry |
: |
Metals & Metal Products |
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Registered Legal Address |
: |
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 |
: |
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 |
: |
VINAINOX |
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Issuing Authority |
: |
Dept. of Planning & Investment - Ho Chi Minh |
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License Number |
: |
0303266714 |
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License Status |
: |
License exists - Normal. |
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Legal Form - Category |
: |
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 |
: |
Mar, 2012 |
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Employees |
: |
38 |
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Capital |
: |
US$ 237,079 |
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Note |
: |
(1) Legal
status of the English corporate name |
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Country |
: |
Vietnam |
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Business Entity Name |
: |
VIET NA INOX CO LTD |
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Primary Business Activity |
: |
Importer |
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Primary Industry |
: |
Metals & Metal Products |
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Office Contact Details |
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Operating Address |
: |
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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Tel |
: |
[+84] 8-73063839 |
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: |
[+84] 8-73063843 |
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: |
[+84] 8-73063844 |
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Fax |
: |
[+84] 8-73002525 |
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: |
vinainox-saigon@hcm.fpt.vn |
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Website Details |
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Website |
: |
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Status |
: |
Normal - operational |
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Country of Registration |
: |
Vietnam |
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Ownership Type |
: |
Registered ownership by Subject Business Entity |
DIRECTORS/MANAGEMENT
Key Person
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Legal Title |
: |
Managing Director |
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Name |
: |
Mr. Ha Kim Thang |
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Nationality |
: |
Vietnamese |
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COMPANY MANAGEMENT |
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Management Listings |
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Management Details - 1 |
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Management Details - 2 |
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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 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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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. Ha Kim Thang |
Vietnam |
n/a |
n/a |
99.00 |
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2 |
Mr. Ha Kim Quy |
Vietnam |
n/a |
n/a |
1.00 |
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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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GROUP STRUCTURE & AFFILIATED COMPANIES
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LOCAL BRANCHES & MANAGEMENT |
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FINANCIAL INFORMATION
Financials - Summary (Currency: USD - US Dollar)
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Year |
Sales |
Assets |
Net Income |
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2011 Annual |
8,621,795 |
2,895,103 |
639,222 |
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2012 Annual (*) |
9,563,517 |
2,783,767 |
388,866 |
Sales Trend – Analysis
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2003 |
2004 |
2005 |
2006 |
2007 |
2008 |
2009 |
2010 |
2011 |
2012 |
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- |
- |
- |
- |
- |
- |
- |
- |
- |
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Note: (*)
Financials listed are the most recent available for this company.
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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 basic financials were obtained for reference.
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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Industrial equipment |
Importing, Trading |
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Industrial machinery |
Importing, Trading |
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MIG wires |
Importing, Trading |
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Metal products |
Importing, Trading |
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Stainless Steel Springs |
Importing, Trading |
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SIC PRODUCT CLASSIFICATION & ACTIVITY |
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HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY |
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DETAILED 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 MIG wires Metal products Stainless Steel Springs Stainless steel Stainless steel bars Stainless steel chains Stainless steel coils Stainless steel earrings Stainless steel jewelry Stainless steel necklaces Stainless steel pipe Stainless steel ring Stainless steel sheets Stainless steel wire Zinc wires |
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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: Trading Trading - Finished products |
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BANK DETAILS |
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INTERNATIONAL TRADE - Activity & Markets
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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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Korea, South (Republic of Korea) |
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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PREVIOUS CONTACT DETAILS |
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PREVIOUS BUSINESS LICENSE/S |
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NOTES & COMMENTS
N/a
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.01 |
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1 |
Rs.101.99 |
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Euro |
1 |
Rs.81.25 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
NIS |
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.