MIRA INFORM REPORT

 

 

Report Date :

16.05.2014

 

IDENTIFICATION DETAILS

 

Name :

AUSTFEED BINH DINH CO LTD

 

 

Registered Office :

Lot L1 - 4 Nhon Hoi Industrial Zone (Area B) Nhon Hoi Economic Zone Nhon Hoi Commune, Quy Nhon, Binh Dinh

 

 

Country :

Viet Nam

 

 

Financials (as on) :

2012

 

 

Date of Incorporation :

11.12.2009

 

 

Legal Form :

Company Limited

 

 

Line of Business :

Manufacturer of Agricultural Products

 

 

No. of Employees

160

 

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 – March 31, 2014

 

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

Viet Nam

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately  High Risk

C1

High Risk

 

C2

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

Source : CIA

 

 

 

REGISTERED NAME & COMPANY SUMMARY

 

Organization Name

:

AUSTFEED BINH DINH CO LTD(1)

Address

:

Lot L1 - 4 Nhon Hoi Industrial Zone (Area B) Nhon Hoi Economic

Zone Nhon Hoi Commune, Quy Nhon, Binh Dinh

Country

:

Vietnam

Phone (S)

:

[+84] 56-2220055

Facsimile

:

[+84] 56-2220033

Email

:

afb@austfeed.com.vn

Website

:

http://www.austfeed.com.vn

Primary Business Activity

:

Manufacturer

Key Industry

:

Agricultural Products

 

Registered Legal Address

:

Lot L1 - 4 Nhon Hoi Industrial Zone (Area B) Nhon Hoi Economic Zone Nhon Hoi Commune, Quy Nhon, Binh Dinh

Operational Address

:

Lot L1 - 4 Nhon Hoi Industrial Zone (Area B) Nhon Hoi Economic Zone Nhon Hoi Commune, Quy Nhon, Binh Dinh

Issuing Authority

:

Dept. of Planning & Investment - Binh Dinh

License Number

:

4100984795

License Status

:

License exists - Normal.

Legal Form - Category

:

Private Company with Limited Liability

Legal Form

:

Company Limited

Legal Form - Abbreviation

:

CO LTD

Operational Status of Business

:

Normal

Date of Registration

:

11 Dec, 2009

Employees

:

160

Capital

:

US$ 1,919,607

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.

 

Country

:

Vietnam

Business Entity Name

:

AUSTFEED BINH DINH CO LTD

Acronym

:

AFB

Primary Business Activity

:

Manufacturer

Primary Industry

:

Agricultural Products

 

Office Contact Details

Operating Address

:

Lot L1 - 4 Nhon Hoi Industrial Zone (Area B) Nhon Hoi Economic Zone Nhon Hoi Commune, Quy Nhon, Binh Dinh

Tel

:

[+84] 56-2220055

Fax

:

[+84] 56-2220033

Email

:

afb@austfeed.com.vn

 

Website Details

Website

:

http://www.austfeed.com.vn

Country of Registration

:

Vietnam

 

 

DIRECTORS/MANAGEMENT

 

Key Person

Legal Title

:

Managing Director

Name

:

Mr. Dao Manh Luong

Nationality

:

Vietnamese

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Mr. Nguyen Thanh Ha

Vietnamese

Chief Accountant

-

 

Management Details - 1

Personal Unique Identifier

:

MI03698325

Name

:

Mr. Nguyen Thanh Ha

 

Date of Birth

:

1973

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03698322

Name

:

Mr. Dao Manh Luong

Date of Birth

:

1975

 

 

NEGATIVE INFORMATION

 

REPUTATION

Reference checking for the purpose of establishing the AUSTFEED BINH DINH CO LTD's reputation within the respective industry failed to reveal any adverse information.

 

 

NEGA-SCAN - ADVERSE DATA MONITORING

 

 

DISHONORED CHECKS

 

No Record Found

 

http://www.asiancredit.com/Manage/Image/space.gif

 

DEBT

 

No Record Found

 

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LITIGATION

 

No Record Found

 

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PERFORMANCE DEFAULTS

 

No Record Found

 

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ADVERSE LOCAL MEDIA COVERAGE / ADVERSE FILING HISTORY

 

No Record Found

 

http://www.asiancredit.com/Manage/Image/space.gif

 

 

 

SHARE & SHARE CAPITAL INFORMATION

 

CAPITAL (Currency: VND - Vietnam Dong)

Authorized Capital

:

₫ 40,000,000,000

 

SHAREHOLDERS

Total number of shareholders

:

1

Total number of shares

:

n/a

 

Currency

:

VND - Vietnam Dong

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

AUSTFEED VIETNAM CORP

Vietnam

n/a

n/a

100.00

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

100%

International Sales (Export)

0%

 

 

Annual Purchases Analysis

Percentage

Local Purchases

40%

Imports

60%

 

 

PAYMENT TERMS

Selling

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~60 days

 

Purchasing

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~60 days

Import

Letter of Credit (At-sight)

Telegraphic Transfer (T/T) - Executed at time of transaction

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

DIRECT / INDIRECT CORPORATE PARENT DETAILS

Direct Parent

:

AUSTFEED VIETNAM CORP

Global Identifier

:

P3026419

Legal Form Category

:

Private Company with Limited Liability

Country

:

Vietnam

 

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

Year

Sales

Assets

Net Income

2011 Annual  

7,929,669

6,016,803

130,437

2012 Annual (*)

16,137,166

6,097,819

336,284

 

Sales Trend – Analysis

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

-

-

-

-

-

-

-

-

-

http://www.asiancredit.com/Manage/image/up_arrow_04.gif

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

80,195,000,000

64,213,000,000

Non Current Assets

45,135,000,000

62,772,000,000

Non Current Liabilities

25,127,000,000

18,044,000,000

Share Capital

18,999,000,000

30,000,000,000

Other long term assets 

Total Assets

125,330,000,000

126,985,000,000

Total Liabilities

104,045,000,000

87,552,000,000

Current Liabilities

78,918,000,000

69,508,000,000

Long term liabilities 

Shareholders Funds

21,285,000,000

39,433,000,000

 

Current assets & short term investments

80,195,000,000

64,213,000,000

Cash & cash equivalents

3,475,000,000

3,187,000,000

Cash

3,475,000,000

3,187,000,000

Accounts receivable

3,113,000,000

10,710,000,000

Accounts receivable trade

228,000,000

8,416,000,000

Trade prepayment

1,955,000,000

1,404,000,000

Inter company receivables

681,000,000

-

Others receivables

249,000,000

890,000,000

Inventories

64,016,000,000

36,767,000,000

i. Other short term asset

9,591,000,000

13,549,000,000

Prepaid expenses

8,125,000,000

9,784,000,000

VAT deductible

1,418,000,000

3,196,000,000

ii. Other short term asset

48,000,000

569,000,000

Long term assets

45,135,000,000

62,772,000,000

Fixed assets

36,718,000,000

54,936,000,000

Tangible fixed assets

33,150,000,000

46,633,000,000

i. Cost

34,679,000,000

50,902,000,000

i. Accumulated depreciation

1,529,000,000

4,269,000,000

Intangible fixed assets

64,000,000

37,000,000

ii. Cost

79,000,000

79,000,000

ii. Accumulated depreciation

15,000,000

42,000,000

Construction in progress

3,504,000,000

8,266,000,000

i. Other long term assets

8,417,000,000

7,836,000,000

Long term prepayments

5,596,000,000

5,609,000,000

ii. Other long term assets

2,821,000,000

2,227,000,000

Total assets

125,330,000,000

126,985,000,000

Liabilities

104,045,000,000

87,552,000,000

Current liabilities

78,918,000,000

69,508,000,000

Short term borrowings

26,824,000,000

30,033,000,000

Accounts payables-trade

50,262,000,000

31,112,000,000

Advances from customers

809,000,000

6,378,000,000

Taxes and payable to state budget

27,000,000

67,000,000

Payable to employees

857,000,000

963,000,000

Accrued expenses payable

-

179,000,000

Other payables

139,000,000

776,000,000

Long term liabilities

25,127,000,000

18,044,000,000

Long term borrowings

25,127,000,000

18,044,000,000

i. Owner's equity

21,285,000,000

39,433,000,000

ii. Owner's equity

21,438,000,000

39,473,000,000

Business capital

18,999,000,000

30,000,000,000

Foreign exchange differences

(528,000,000)

(497,000,000)

Retained earnings

2,967,000,000

9,970,000,000

Budget sources

(153,000,000)

(40,000,000)

Bonus and welfare funds

(153,000,000)

(40,000,000)

Total resources

125,330,000,000

126,985,000,000

 

Income Statement

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2011 Annual

2012 Annual

Turnover

165,175,000,000

336,051,000,000

Profit (Loss) Before Tax

2,717,000,000

7,003,000,000

Profit After Tax attributable to Shareholders

2,717,000,000

7,003,000,000

 

Gross sales

165,175,000,000

336,051,000,000

Less deductions

5,725,000,000

12,485,000,000

Net income

159,450,000,000

323,566,000,000

Cost of goods sold

146,775,000,000

291,257,000,000

Gross margin

12,675,000,000

32,309,000,000

Income from financial activities

62,000,000

183,000,000

Expenses from financial activities

8,814,000,000

10,376,000,000

Selling expenses

1,616,000,000

11,920,000,000

General & administration expenses

918,000,000

3,554,000,000

Net income from operating activities

1,389,000,000

6,642,000,000

Extraordinary income

1,715,000,000

632,000,000

Extraordinary expenses

387,000,000

271,000,000

Extraordinary gains

1,328,000,000

361,000,000

Net profit before tax

2,717,000,000

7,003,000,000

Net profit after tax

2,717,000,000

7,003,000,000

 

Financial Ratios

Financial Highlights

2011 Annual

2012 Annual

Growth % 

Year-on-Year Growth

-

103.45

Profitability 

Profit Margin (%)

1.64

2.08

Return on Equity (%)

12.76

17.76

Return on Assets (%)

2.17

5.51

Leverage 

Total Debt Equity (Times)

4.89

2.22

Current Debt Equity (Times)

3.71

1.76

Long Term Debt to Equity

1.18

0.46

Total Asset To Total Equity

5.89

3.22

Asset Management 

Total Assets Turnover (Times)

1.32

2.65

Fixed Assets Turnover (Times)

3.66

5.35

Liquidity 

Current Ratio

1.02

0.92

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 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

 

Primary Products

Products / Materials / Services Description

Activity

Animal feed

Manufacturing

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Prepared feeds, nspf

2048

Manufacturing

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Preparations of a kind used in animal feeding

2309909000

Manufacturing

Preparations used in animal feeding

2309

Manufacturing

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of AUSTFEED BINH DINH CO LTD is Manufacturing - Finished products.

Key product include :

Animal feed


An integral part of the core business includes:

Distribution

 

Supplementary Business

In addition to the core business, AUSTFEED BINH DINH CO LTD also is engaged in the following areas of business:

Importing

Importing - Raw materials

 

BANK DETAILS

Bank Name

:

JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM

Global Identifier

:

P1072025

Branch

:

Hanoi

Branch Address

:

QUY NHON

SWIFT Code

:

BFTVVNVX

 

Bank Name

:

MILITARY COMMERCIAL JOINT STOCK BANK

Global Identifier

:

P0387295

Branch

:

Dong Da,Hanoi

Branch Address

:

BINH DINH

SWIFT Code

:

MSCBVNVX

 

INTERNATIONAL TRADE - Activity & Markets

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing

North America

Medium

Importing

South America

Medium

Importing

Argentina

Medium

Importing

China

Medium

Importing

India

Medium

Importing

USA

Medium

Importing

 

OFFICE & FACILITIES

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

Name

:

AUSTFEED BINH DINH CO LTD - QUY NHON, BINH DINH

Primary Use

:

Office & Administration facilities

Address

:

Lot L1 - 4 Nhon Hoi Industrial Zone (Area B) Nhon Hoi Economic Zone Nhon Hoi Commune, Quy Nhon, Binh Dinh

Country

:

Vietnam

Status

:

Operational

 

WAREHOUSING FACILITIES

Name

:

AUSTFEED BINH DINH CO LTD - QUANG TRI

Address

:

Quang Tri

Country

:

Vietnam

Status

:

Operational

 

Name

:

AUSTFEED BINH DINH CO LTD - DAC LAC

Address

:

Dac Lac

Country

:

Vietnam

Status

:

Operational

 

PREVIOUS BUSINESS LICENSE/S

License Date

License No.

12 Nov, 2009

35221000069

 

 

NOTES & COMMENTS

 

N/a

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.59.47

UK Pound

1

Rs.99.70

Euro

1

Rs.81.55

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

PDT

 

               

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.