MIRA
INFORM REPORT
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Report Date : |
05.05.2014 |
IDENTIFICATION DETAILS
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Name : |
QUANGNINH SEAFOODS PROCESSING AND EXPORTING CO LTD |
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Registered Office : |
Section 1 Hai Yen Ward, Mong Cai, Quang Ninh |
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Country : |
Vietnam |
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Date of Incorporation : |
25.08.2011 |
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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 : |
200 |
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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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately 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 |
: |
QUANGNINH SEAFOODS PROCESSING AND EXPORTING CO LTD |
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Address |
: |
Section 1 Hai Yen Ward, Mong Cai, Quang Ninh |
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Country |
: |
Vietnam |
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Phone (S) |
: |
[+84] 33-3786837 |
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Facsimile |
: |
[+84] 33-3786838 |
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Primary Business Activity |
: |
Trader |
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Key Industry |
: |
Food Products |
DIRECTORS/MANAGEMENT
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Key Person
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COMPANY
MANAGEMENT |
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Management
Listings |
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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 QUANGNINH SEAFOODS
PROCESSING AND EXPORTING 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 |
: |
US$ 1,615,831 |
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CAPITAL (Currency: VND - Vietnam Dong) |
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SHAREHOLDERS |
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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
N/a
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
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Key Facts |
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Registered Legal Address |
: |
Section 1 Hai Yen Ward, Mong Cai, Quang Ninh |
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Operational Address |
: |
Section 1 Hai Yen Ward, Mong Cai, Quang Ninh |
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Trading Name |
: |
QUANGNINH SEAFOODS |
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Issuing Authority |
: |
Dept. of Planning & Investment - Quang Ninh |
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License Number |
: |
5701473691 |
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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 |
: |
25 Aug, 2011 |
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Employees |
: |
200 |
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Report Details |
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Country |
: |
Vietnam |
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Business Entity Name |
: |
QUANGNINH SEAFOODS PROCESSING AND EXPORTING CO LTD |
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Primary Business Activity |
: |
Trader |
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Primary Industry |
: |
Food Products |
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Office Contact Details |
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Operating Address |
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Section 1 Hai Yen Ward, Mong Cai, Quang Ninh |
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Tel |
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[+84] 33-3786837 |
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: |
[+84] 33-3786952 |
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Fax |
: |
[+84] 33-3786838 |
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Tax / VAT Details |
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Tax Issuing Authority |
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Ministry of Finance |
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Local Name Used |
: |
Gia Trj Gia Tang (Value Added Tax) |
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Acronym |
: |
GTGT / VAT |
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GTGT / VAT Number |
: |
5701473691 |
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Primary Products
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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 QUANGNINH SEAFOODS PROCESSING AND EXPORTING
CO LTD is Trading - Finished products.
Chicken legs Frozen seafoods Chicken shanks |
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Supplementary Business |
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In addition to the core business, QUANGNINH SEAFOODS PROCESSING AND
EXPORTING CO LTD also is engaged in the following areas of business: Exporting Exporting - Finished products Importing Importing - Finished products |
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BANK DETAILS |
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LOCAL BRANCHES
& MANAGEMENT |
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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, Exporting |
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Europe |
Medium |
Importing, Exporting |
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China |
Medium |
Exporting |
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Poland |
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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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.60.23 |
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1 |
Rs.101.68 |
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Euro |
1 |
Rs.83.46 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
NNA |
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.