MIRA INFORM REPORT

 

 

Report Date :

07.03.2014

 

IDENTIFICATION DETAILS

 

Name :

DINH HA IMPORT EXPORT JSC

 

 

Registered Office :

24A7/411 Da Nang St Dong Hai Ward, Hai An Dist, Haiphong

 

 

Country :

Vietnam

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

02.07.2009

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Exporter of Minerals / Mining

 

 

No. of Employees :

28

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No complaints

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 – September 30, 2013

 

Country Name

Previous Rating

(30.06.2013)

Current Rating

(30.09.2013)

Vietnam

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

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

 

Organization Name

:

DINH HA IMPORT EXPORT JSC

Address

:

5Fl Dau Khi Hotel 411 Da Nang St, Hai An Dist, Haiphong

Country

:

Vietnam

Phone (S)

:

[+84] 31-3262042

Facsimile

:

[+84] 31-3555109

Email

:

dinhhajsc@vnn.vn

Website

:

http://www.limevietnam.com

Primary Business Activity

:

Exporter

Key Industry

:

Minerals / Mining

 

Registered Legal Address

:

24A7/411 Da Nang St Dong Hai Ward, Hai An Dist, Haiphong

Operational Address

:

5Fl Dau Khi Hotel 411 Da Nang St, Hai An Dist, Haiphong

Issuing Authority

:

Dept. of Planning & Investment - Hai Phong

License Number

:

0200790676

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

:

2 Jul, 2009

Employees

:

28

Capital

:

US$ 715,990

 

DIRECTORS/MANAGEMENT

 

Key Person

Legal Title

:

Chairman

Name

:

Mr. Vu Van Dung

Nationality

:

Vietnamese

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Mr. Vu Van Ngoc

Vietnamese

Chief Accountant

-

2

Ms. Vu Thi Thanh Thuy

Vietnamese

Chief Executive Officer - CEO

-

 

Management Details - 1

Personal Unique Identifier

:

MI03636315

Name

:

Mr. Vu Van Ngoc

 

Date of Birth

:

1969

 

Management Details - 2

Personal Unique Identifier

:

MI03636312

Name

:

Ms. Vu Thi Thanh Thuy

 

Date of Birth

:

1969

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03636314

Name

:

Mr. Vu Van Dung

Date of Birth

:

1968

Nationality

:

Vietnamese

 

2

 

 

Personal Unique Identifier

:

MI03636312

Name

:

Ms. Vu Thi Thanh Thuy

Date of Birth

:

1969

Nationality

:

Vietnamese

Other Positions

:

Chief Executive Officer - CEO

 

 

NEGATIVE INFORMATION

 

REPUTATION

Reference checking for the purpose of establishing the DINH HA IMPORT EXPORT 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

 

 

LITIGATION

 

No Record Found

 

 

PERFORMANCE DEFAULTS

 

No Record Found

 

 

ADVERSE LOCAL MEDIA COVERAGE / ADVERSE FILING HISTORY

 

No Record Found

 

 

 

 

SHARE & SHARE CAPITAL INFORMATION

 

CAPITAL (Currency: VND - Vietnam Dong)

Authorized Capital

:

15,000,000,000

 

Date

Authorized Capital - History

28 Feb, 2008

13,000,000,000

1 Dec, 2012

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. Vu Van Dung

Vietnam

n/a

n/a

83.40

2

Mr. Vu Van Ngoc

Vietnam

n/a

n/a

9.20

3

Ms. Vu Thi Thanh Thuy

Vietnam

n/a

n/a

7.40

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

 

DOMESTIC SALES & PURCHASES

Annual Sales Analysis

Percentage

Domestic Sales

0%

International Sales (Export)

100%

 

 

Annual Purchases Analysis

Percentage

Local Purchases

100%

Imports

0%

 

 

PAYMENT TERMS

Selling

Type

Terms

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

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

N/a

 

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

Year

Sales

Assets

Net Income

2011 Annual  

2,081,997

660,250

23,044

2012 Annual (*)

7,952,495

1,680,892

53,830

 

Sales Trend – Analysis

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

-

-

-

-

-

-

-

-

-

Note: (*)

Financials listed are the most recent available for this company.

 

 

FINANCIAL STATEMENT - DETAILED

Balance Sheet

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2011 Annual

2012 Annual

Current Assets

12,565,000,000

31,106,000,000

Non Current Assets

1,188,000,000

3,898,000,000

Other long term assets 

Total Assets

13,753,000,000

35,004,000,000

Total Liabilities

5,338,000,000

20,469,000,000

Current Liabilities

5,338,000,000

20,469,000,000

Long term liabilities 

Shareholders Funds

8,415,000,000

14,535,000,000

 

Current assets & short term investments

12,565,000,000

31,106,000,000

Cash & cash equivalents

539,000,000

1,937,000,000

Cash

539,000,000

1,937,000,000

Accounts receivable

9,998,000,000

24,808,000,000

Accounts receivable trade

4,901,000,000

14,206,000,000

Trade prepayment

564,000,000

2,817,000,000

Others receivables

4,533,000,000

7,785,000,000

Inventories

1,000,000

253,000,000

Inventories I

1,000,000

253,000,000

Other short term asset

2,027,000,000

4,108,000,000

VAT deductible

2,027,000,000

4,099,000,000

Other short term asset I

-

9,000,000

Long term assets

1,188,000,000

3,898,000,000

Fixed assets

1,188,000,000

3,898,000,000

Tangible fixed assets

1,188,000,000

3,898,000,000

Cost

1,252,000,000

4,296,000,000

Accumulated depreciation

64,000,000

398,000,000

Total assets

13,753,000,000

35,004,000,000

Liabilities

5,338,000,000

20,469,000,000

Current liabilities

5,338,000,000

20,469,000,000

Short term borrowings

-

999,000,000

Accounts payables-trade

4,624,000,000

15,192,000,000

Advances from customers

295,000,000

1,366,000,000

Taxes and payable to state budget

419,000,000

1,237,000,000

Other payables

-

1,675,000,000

Owner's equity

8,415,000,000

14,535,000,000

Owner's equity I

8,415,000,000

14,535,000,000

Business capital

8,000,000,000

13,000,000,000

Retained earnings

415,000,000

1,535,000,000

Total resources

13,753,000,000

35,004,000,000

 

Income Statement

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2011 Annual

2012 Annual

Turnover

43,368,000,000

165,608,000,000

Profit (Loss) Before Tax

582,000,000

1,414,000,000

Profit After Tax attributable to Shareholders

480,000,000

1,121,000,000

 

Gross sales

43,368,000,000

165,608,000,000

Less deductions

2,343,000,000

8,241,000,000

Net income

41,025,000,000

157,367,000,000

Cost of goods sold

25,819,000,000

116,301,000,000

Gross margin

15,206,000,000

41,066,000,000

Income from financial activities

983,000,000

220,000,000

Expenses from financial activities

315,000,000

171,000,000

General & administration expenses

15,292,000,000

39,440,000,000

Net income from operating activities

582,000,000

1,675,000,000

Extraordinary expenses

-

261,000,000

Extraordinary gains

-

(261,000,000)

Net profit before tax

582,000,000

1,414,000,000

Income tax

102,000,000

293,000,000

Net profit after tax

480,000,000

1,121,000,000

 

Financial Ratios

Financial Highlights

2011 Annual

2012 Annual

Growth % 

Year-on-Year Growth

-

281.87

Profitability 

Profit Margin (%)

1.11

0.68

Return on Equity (%)

5.70

7.71

Return on Assets (%)

3.49

3.20

Leverage 

Total Debt Equity (Times)

0.63

1.41

Current Debt Equity (Times)

0.63

1.41

Total Asset To Total Equity

1.63

2.41

Asset Management 

Total Assets Turnover (Times)

3.15

4.73

Fixed Assets Turnover (Times)

36.51

42.49

Liquidity 

Current Ratio

2.35

1.52

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. Although financials were obtained for reference.

 

 

FOREIGN EXCHANGE RATES

 

Today's Exchange rate

:

1.00 VND
Vietnam Dong

=

0.000048 USD
United States Dollars

 

 

ADDITIONAL INFORMATION

 

Country

:

Vietnam

Business Entity Name

:

DINH HA IMPORT EXPORT JSC

Primary Business Activity

:

Exporter

Primary Industry

:

Minerals / Mining

 

Office Contact Details

Operating Address

:

5Fl Dau Khi Hotel 411 Da Nang St, Hai An Dist, Haiphong

Tel

:

[+84] 31-3262042

 

:

[+84] 31-3555110

Fax

:

[+84] 31-3555109

Email

:

dinhhajsc@vnn.vn

 

Website Details

Website

:

http://www.limevietnam.com

Status

:

Normal - operational

Ownership Type

:

Registered ownership by Subject Business Entity

 

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

:

0200790676

 

Primary Products

Products / Materials / Services Description

Activity

Calcium carbonate

Exporting

Lime powder

Exporting

Minerals

Exporting

Quicklime

Exporting

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Crushed, broken limestone

1422

Exporting

Lime

3274

Exporting

Minerals and earths, ground or otherwise treated

3295

Exporting

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Calcium carbonate

2836500000

Exporting

Limestone, crushed or broken

2517100010

Exporting

Mineral substances nesoi

2530

Exporting

Quicklime

2522100000

Exporting

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of DINH HA IMPORT EXPORT JSC is Exporting – Minerals


Key products include :

Calcium carbonate

Lime powder

Minerals

Quicklime


An integral part of the core business includes:

Distribution

Warehousing

 

Supplementary Business

In addition to the core business, DINH HA IMPORT EXPORT JSC also is engaged in the following areas of business:

Trading

Trading - Minerals

 

BANK DETAILS

Bank Name

:

ASIA COMMERCIAL JOINT STOCK BANK

Global Identifier

:

P0075118

Branch

:

District 3,Ho Chi Minh

Branch Address

:

ASIA COMMERCIAL JOINT STOCK BANK - BINH DUONG

SWIFT Code

:

ASCBVNVX

 

INTERNATIONAL TRADE - Activity & Markets

Country / Region

Estimated level of importance

Trading Activity

Africa

Medium

Exporting

Asia / Pacific

Medium

Exporting

Australia

Medium

Exporting

Bangladesh

Medium

Exporting

Cameroon

Medium

Exporting

Ghana

Medium

Exporting

India

Medium

Exporting

Indonesia

Medium

Exporting

Korea, South (Republic of Korea)

Medium

Exporting

Malaysia

Medium

Exporting

Mali

Medium

Exporting

Philippines

Medium

Exporting

Singapore

Medium

Exporting

Tanzania

Medium

Exporting

Thailand

Medium

Exporting

 

OFFICE & FACILITIES

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

Name

:

DINH HA IMPORT EXPORT JSC - HAI AN DIST, HAIPHONG

Primary Use

:

Office & Administration facilities

Address

:

5Fl Dau Khi Hotel 411 Da Nang St, Hai An Dist, Haiphong

Country

:

Vietnam

Status

:

Operational

 

PREVIOUS CONTACT DETAILS

Company Address

:

12A8-CT1 Van My, Ngo Quyen Dist, Haiphong

Date of Relocation

:

2 Sep, 2009

 

Company Address

:

110 Tran Hung Dao St, Hai An Dist, Haiphong

Date of Relocation

:

Dec, 2012

 

PREVIOUS BUSINESS LICENSE/S

License Date

License No.

28 Feb, 2008

0203003994

 

 

NOTES & COMMENTS

 

N/a

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.32

UK Pound

1

Rs.102.54

Euro

1

Rs.84.19

 

 

INFORMATION DETAILS

 

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.