MIRA INFORM REPORT

 

 

Report Date :

19.11.2014

 

IDENTIFICATION DETAILS

 

Name :

PC3 - INVESTMENT JSC

 

 

Registered Office :

78A Duy Tan St Hoa Thuan Dong Ward, Hai Chau Dist, Da Nang

 

 

Country :

Viet Nam

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

14.07.2010

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Specialized professional services, including: Electricity distribution

 

 

No. of Employees :

51

 

 

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Viet Nam

B1

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

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

 

Company Details

Organization Name

:

PC3 - INVESTMENT JSC (1)

Address

:

78A Duy Tan St Hoa Thuan Dong Ward, Hai Chau Dist, Da Nang

Country

:

Vietnam

Phone (S)

:

[+84] 511-2212545

Facsimile

:

[+84] 511-2221000

Email

:

pc3@pc3invest.vn

Website

:

http://www.pc3invest.vn

Primary Business Activity

:

Service

Key Industry

:

Energy, Power & Utilities

 

Key Facts

Registered Legal Address

:

78A Duy Tan St Hoa Thuan Dong Ward, Hai Chau Dist, Da Nang

Operational Address

:

78A Duy Tan St Hoa Thuan Dong Ward, Hai Chau Dist, Da Nang

Trading Name

:

PC3 - INVEST

Issuing Authority

:

Dept. of Planning & Investment - Da Nang

License Number

:

0400599162

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

:

14 Jul, 2010

Employees

:

51

Capital

:

US$ 28,492,734

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.

 

 

DIRECTORS/MANAGEMENT

 

Key Person

Legal Title

:

Chairman

Name

:

Mr. Nguyen Thanh

Nationality

:

Vietnamese

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Mr. Nguyen Luong Minh

Vietnamese

Managing Director

-

Management Details - 1

Personal Unique Identifier

:

MI03796264

Name

:

Mr. Nguyen Luong Minh

 

Date of Birth

:

1969

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03796264

Name

:

Mr. Nguyen Luong Minh

Date of Birth

:

1969

 

2

 

 

Personal Unique Identifier

:

MI03796267

Name

:

Mr. Nguyen Thanh

Date of Birth

:

1961

 

 

NEGATIVE INFORMATION

 

REPUTATION

 

Reference checking for the purpose of establishing PC3 - INVESTMENT 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

 

 

CIVIL 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

:

₫ 600,000,000,000

 

SHAREHOLDERS

Total number of shareholders

:

n/a

Total number of shares

:

n/a

 

Currency

:

VND - Vietnam Dong

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

CENTRAL POWER CORP

Vietnam

n/a

n/a

55.40

2

Undisclose

 Shareholders

n/a

n/a

n/a

31.00

3

DAI HOANG HA CO LTD

Vietnam

n/a

n/a

5.60

4

AN BINH COMMERCIAL JOINT STOCK BANK JSC

Vietnam

n/a

n/a

4.00

5

KHANH HOA POWER JSC

Vietnam

n/a

n/a

2.00

6

VIET A INVESTMENT COMMERCIAL INDUSTRAL GROUP HOLDINGS CO

Vietnam

n/a

n/a

2.00

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

 

N/a

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

DIRECT / INDIRECT CORPORATE PARENT DETAILS

Direct Parent

:

CENTRAL POWER CORP

Global Identifier

:

P3146548

Legal Form Category

:

Private Company with Limited Liability

Country

:

Vietnam

Operational Address

:

393 Trung Nu Vuong St Hai Chau Dist Da Nang

Primary Business Activity

:

Service

 

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

Year

Sales

Assets

Net Income

2012 Annual  

1,714,746

15,264,883

9,700

2013 Annual  

2,168,712

15,766,909

651,505

 

Sales Trend – Analysis

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

-

-

-

-

-

-

-

-

-

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

 

FINANCIAL STATEMENT - DETAILED

Balance Sheet

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2012 Annual

2013 Annual

Current Assets(*)

56,036,000,000

50,620,000,000

Non Current Assets(*)

261,850,000,000

281,874,000,000

Non Current Liabilities(*)

68,706,000,000

51,530,000,000

Other long term assets 

Total Assets(*)

317,886,000,000

332,494,000,000

Total Liabilities(*)

101,083,000,000

80,771,000,000

Current Liabilities(*)

32,377,000,000

29,241,000,000

Long term liabilities 

Shareholders Funds(*)

216,803,000,000

251,723,000,000

 

Current assets & short term investments

56,036,000,000

50,620,000,000

Cash & cash equivalents

38,132,000,000

27,159,000,000

Cash

982,000,000

318,000,000

Cash equivalents

37,150,000,000

26,841,000,000

Accounts receivable

10,002,000,000

11,887,000,000

Accounts receivable trade

6,301,000,000

8,649,000,000

Trade prepayment

2,900,000,000

2,949,000,000

Others receivables

801,000,000

309,000,000

Provision for bad debts

-

(20,000,000)

Inventories

6,315,000,000

6,975,000,000

i. Other short term asset

1,587,000,000

4,599,000,000

VAT deductible

1,496,000,000

4,565,000,000

ii. Other short term asset

91,000,000

34,000,000

Long term assets

261,850,000,000

281,874,000,000

Fixed assets

261,478,000,000

281,741,000,000

Tangible fixed assets

206,961,000,000

243,546,000,000

i. Cost

254,269,000,000

300,284,000,000

i. Accumulated depreciation

47,308,000,000

56,738,000,000

ii. Cost

53,000,000

33,000,000

ii. Accumulated depreciation

53,000,000

33,000,000

Construction in progress

54,517,000,000

38,195,000,000

Other long term assets

372,000,000

133,000,000

Long term prepayments

372,000,000

133,000,000

Total assets

317,886,000,000

332,494,000,000

Liabilities

101,083,000,000

80,771,000,000

Current liabilities

32,377,000,000

29,241,000,000

Short term borrowings

19,177,000,000

17,177,000,000

Accounts payables-trade

4,530,000,000

5,847,000,000

Taxes and payable to state budget

766,000,000

1,556,000,000

Payable to employees

1,630,000,000

2,800,000,000

Other payables

6,274,000,000

2,393,000,000

Bonus and welfare funds

-

(532,000,000)

Long term liabilities

68,706,000,000

51,530,000,000

Long term borrowings

68,706,000,000

51,530,000,000

Owner's equity

216,803,000,000

251,723,000,000

Business capital

222,641,000,000

243,467,000,000

Share capital's surplus

(35,000,000)

(35,000,000)

Foreign exchange differences

(851,000,000)

(496,000,000)

Business development funds

131,000,000

131,000,000

Retained earnings

(5,083,000,000)

8,656,000,000

Total resources

317,886,000,000

332,494,000,000

Note: (*)

Financial Highlights

 

Income Statement

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2012 Annual

2013 Annual

Turnover(*)

35,709,000,000

45,734,000,000

Profit (Loss) Before Tax(*)

333,000,000

13,746,000,000

Profit After Tax attributable to Shareholders(*)

202,000,000

13,739,000,000

 

Gross sales

35,709,000,000

45,734,000,000

Net income

35,709,000,000

45,734,000,000

Cost of goods sold

19,826,000,000

18,024,000,000

Gross margin

15,883,000,000

27,710,000,000

Income from financial activities

2,757,000,000

1,815,000,000

Expenses from financial activities

15,046,000,000

10,814,000,000

In which: Interest expenses

14,682,000,000

10,435,000,000

General & administration expenses

2,828,000,000

4,610,000,000

Net income from operating activities

766,000,000

14,101,000,000

Extraordinary income

1,692,000,000

263,000,000

Extraordinary expenses

2,125,000,000

618,000,000

Extraordinary gains

(433,000,000)

(355,000,000)

Net profit before tax

333,000,000

13,746,000,000

Income tax

131,000,000

7,000,000

Net profit after tax

202,000,000

13,739,000,000

Note: (*)

Financial Highlights

 

Financial Ratios

Financial Highlights

2012 Annual

2013 Annual

Growth % 

Year-on-Year Growth

-

28.07

Profitability 

Profit Margin (%)

0.57

30.04

Return on Equity (%)

0.09

5.46

Return on Assets (%)

0.06

4.13

Leverage 

Total Debt Equity (Times)

0.47

0.32

Current Debt Equity (Times)

0.15

0.12

Long Term Debt to Equity

0.32

0.20

Total Asset To Total Equity

1.47

1.32

Asset Management 

Total Assets Turnover (Times)

0.11

0.14

Fixed Assets Turnover (Times)

0.14

0.16

Liquidity 

Current Ratio

1.73

1.73

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 basic financials were obtained for reference.

 

FOREIGN EXCHANGE RATES

 

Today's Exchange rate

:

1.00 VND
Vietnam Dong

=

0.000047 USD
United States Dollars

 

 

ADDITIONAL INFORMATION

 

Report Details

 

 

Country

:

Vietnam

Business Entity Name

:

PC3 - INVESTMENT JSC

Primary Business Activity

:

Service

Primary Industry

:

Energy, Power & Utilities

Office Contact Details

Operating Address

:

78A Duy Tan St Hoa Thuan Dong Ward, Hai Chau Dist, Da Nang

Tel

:

[+84] 511-2212545

Fax

:

[+84] 511-2221000

Email

:

pc3@pc3invest.vn

Website Details

Website

:

http://www.pc3invest.vn

Status

:

Normal - operational

Country of Registration

:

Vietnam

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

:

0400599162

 

Primary Products

Products / Materials / Services Description

Activity

Electric transmission

Service

Electricity distribution

Service

Electricity generation

Service

Electricity production

Service

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Electric Svcs

4911

Service

Electric/Other Svcs Combined

4931

Service

Electrical Work

1731

Service

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Electric services

9856

Service

Electrical energy

2716

Service

Electrical work

9820

Service

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of PC3 - INVESTMENT JSC is Specialized professional services, including:

Electricity distribution


Key services include :

Electric transmission

Electricity generation

Electricity production

 

 

BANK DETAILS

Bank Name

:

VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY & TRADE

Global Identifier

:

32404058

Branch

:

Hoan Kiem Dist,Hanoi

Branch Address

:

DA NANG

SWIFT Code

:

ICBVVNVX

 

LOCAL BRANCHES & MANAGEMENT

Branch

:

PC3 - INVESTMENT JSC - HAI CHAU DIST, DA NANG

Branch Address

:

78A Duy Tan St, Hai Chau Dist, Da Nang

 

Branch

:

PC3 - INVESTMENT JSC - KON PLONG DIST, KON TUM

Branch Address

:

Mang Den Town Dak Long Commune, Kon Plong Dist, Kon Tum

 

Branch

:

PC3 - INVESTMENT JSC - HAI CHAU DIST, DA NANG

Branch Address

:

182 Hoang Dieu Hai Chau II Ward, Hai Chau Dist, Da Nang

 

OFFICE & FACILITIES

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

Name

:

PC3 - INVESTMENT JSC - HAI CHAU DIST, DA NANG

Primary Use

:

Office & Administration facilities

Address

:

78A Duy Tan St Hoa Thuan Dong Ward, Hai Chau Dist, Da Nang

Country

:

Vietnam

Status

:

Operational

 

PREVIOUS BUSINESS LICENSE/S

License Date

License No.

2 Jan, 2008

3203001787

 

 

 

NOTES & COMMENTS

 

N/a

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.83

UK Pound

1

Rs.96.56

Euro

1

Rs.77.42

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

SHG

 

               

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.