MIRA
INFORM REPORT
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Report Date : |
12.05.2014 |
IDENTIFICATION DETAILS
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Name : |
NEW HE QIAO SHAREHOLDINGS CO |
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Registered Office : |
Minh Tan Town, Kinh Mon Dist, Hai Duong |
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Country : |
Viet Nam |
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Date of Incorporation : |
22.09.2011 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturer of Chemicals |
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No. of Employees |
120 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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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Viet Nam |
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 |
VIET NAM - 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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Organization Name |
: |
NEW HE QIAO SHAREHOLDINGS CO |
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Address |
: |
Minh Tan Town, Kinh Mon Dist, Hai Duong |
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Country |
: |
Vietnam |
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Phone (S) |
: |
[+84] 320-3820389 |
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Facsimile |
: |
[+84] 320-3820388 |
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Email |
: |
info@new-hq.com.vn |
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Website |
: |
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Primary Business Activity |
: |
Manufacturer |
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Key Industry |
: |
Chemicals |
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Registered Legal Address |
: |
Minh Tan Town, Kinh Mon Dist, Hai Duong |
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Operational Address |
: |
Minh Tan Town, Kinh Mon Dist, Hai Duong |
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Issuing Authority |
: |
Dept. of Planning & Investment - Hai Duong |
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License Number |
: |
041032000108 |
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License Status |
: |
License exists - Normal. |
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Legal Form - Category |
: |
Joint Stock Company |
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Legal Form |
: |
Company |
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Legal Form - Abbreviation |
: |
CO |
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Operational Status of Business |
: |
Normal |
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Date of Registration |
: |
22 Sep, 2011 |
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Employees |
: |
120 |
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Capital |
: |
US$ 9,598,034 |
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Country |
: |
Vietnam |
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Business Entity Name |
: |
NEW HE QIAO SHAREHOLDINGS CO |
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Primary Business Activity |
: |
Manufacturer |
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Primary Industry |
: |
Chemicals |
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Office Contact Details |
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Operating Address |
: |
Minh Tan Town, Kinh Mon Dist, Hai Duong |
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Tel |
: |
[+84] 320-3820389 |
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Fax |
: |
[+84] 320-3820388 |
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Email |
: |
info@new-hq.com.vn |
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Website Details |
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Website |
: |
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Country of Registration |
: |
Vietnam |
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Ownership Type |
: |
Registered ownership by Subject Business Entity |
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Tax / VAT Details |
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Tax Issuing Authority |
: |
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 |
: |
0800932851 |
DIRECTORS/MANAGEMENT
Key Person
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Legal Title |
: |
Managing Director |
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Name |
: |
Mr. Huo-Sheng Jiu |
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Nationality |
: |
Chinese |
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COMPANY MANAGEMENT |
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Management Listings |
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Management Details - 1 |
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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 NEW
HE QIAO SHAREHOLDINGS CO'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 |
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3 |
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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 |
GOLDEN RESOURCES INTERNATIONAL GROUP CORP |
China |
n/a |
n/a |
42.00 |
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2 |
SIC HAI DUONG JSC |
Vietnam |
n/a |
n/a |
35.00 |
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3 |
PRIME RESOURCES INTERNATIONAL GROUP LTD |
China |
n/a |
n/a |
23.00 |
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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. |
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 Joint Stock Company 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
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Products / Materials / Services Description |
Activity |
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Silicon carbide |
Manufacturing, Exporting |
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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 NEW HE QIAO SHAREHOLDINGS CO
is Manufacturing - Finished products. Silicon carbide
Distribution |
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Supplementary Business |
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In addition to the core business, NEW HE QIAO
SHAREHOLDINGS CO also is engaged in the following areas of business: Exporting Exporting - Finished products Importing Importing - Raw materials |
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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, Exporting |
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North America |
Medium |
Exporting |
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China |
Medium |
Importing |
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India |
Medium |
Exporting |
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Korea, South (Republic of Korea) |
Medium |
Exporting |
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USA |
Medium |
Exporting |
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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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QUALITY ACCREDITATION |
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Quality Accreditation Listings |
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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.60.05 |
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1 |
Rs.101.65 |
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Euro |
1 |
Rs.83.07 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
PDT |
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.