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Report Date : |
27.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
VU HAI CO LTD |
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Registered Office : |
Hai Hoa Industrial Zone Area 3 Mong Cai Ward, Quang Ninh |
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Country : |
Vietnam |
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Date of Incorporation : |
19.01.2011 |
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Legal Form : |
Company Limited |
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Line of Business : |
Trader of Food Products |
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No of Employees : |
40 |
RATING & COMMENTS
|
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 |
|
Insignificant |
A1 |
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Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
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
|
Source
: CIA |
Company Details
|
Organization Name |
: |
VU HAI CO LTD(1) |
|
Address |
: |
Hai Hoa Industrial Zone Area 3 Mong Cai Ward, Quang Ninh |
|
Country |
: |
Vietnam |
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Phone (S) |
: |
[+84] 33-3883083 |
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Facsimile |
: |
[+84] 33-3777152 |
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Email |
: |
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Primary Business Activity |
: |
Trader |
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Key Industry |
: |
Food Products |
Key Facts
|
Registered Legal Address |
: |
Hai Hoa Industrial Zone Area 3 Mong Cai Ward, Quang Ninh |
|
Operational Address |
: |
Hai Hoa Industrial Zone Area 3 Mong Cai Ward, Quang Ninh |
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Issuing Authority |
: |
Dept. of Planning & Investment - Quang Ninh |
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License Number |
: |
5700501307 |
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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 |
: |
19 Jan, 2011 |
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Employees |
: |
40 |
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Capital |
: |
US$ 806,069 |
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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. |
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Report Details |
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Key Person
|
Legal Title |
: |
Managing Director |
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Name |
: |
Mr. Nguyen Hong Hai |
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Nationality |
: |
Vietnamese |
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COMPANY MANAGEMENT |
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Management Listings |
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COMPANY DIRECTORS |
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REPUTATION |
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Reference checking for the purpose of establishing VU HAI
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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CAPITAL (Currency: VND - Vietnam Dong) |
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SHAREHOLDERS |
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PAYMENT TERMS |
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Selling |
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Purchasing |
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Na
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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. |
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Today's Exchange rate |
: |
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Primary Products
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Products / Materials / Services Description |
Activity |
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Frozen foods |
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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Supplementary Business |
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In addition to the core business, VU HAI CO LTD also is engaged
in the following areas of business:
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DOMESTIC SALES & PURCHASES |
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Annual Purchases Analysis |
Percentage |
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Imports |
100% |
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BANK DETAILS |
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INTERNATIONAL TRADE - Activity & Markets |
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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 BUSINESS LICENSE/S |
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|
Na
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 60.16 |
|
|
1 |
Rs. 102.23 |
|
Euro |
1 |
Rs. 82.04 |
INFORMATION DETAILS
|
Analysis Done by
: |
SMT |
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Report Prepared
by : |
DPT |
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 |
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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 |
|
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.