MIRA INFORM REPORT

 

 

Report Date :

02.10.2014

 

IDENTIFICATION DETAILS

 

Name :

KIM PHUC HA CO LTD(1)

 

 

Registered Office :

Phai Luong Resettlement Area Chi Lang Ward, Lang Son, Lang Son

 

 

Country :

Vietnam

 

 

Financials (as on) :

December, 2012

 

 

Date of Incorporation :

24.10.2011

 

 

Legal Form :

Company Limited

 

 

Line of Business :

Trader of Minerals / Mining

 

 

No. of Employees :

10

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

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)

Vietnam

A2

A2

 

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

 

Company Details

Organization Name

:

KIM PHUC HA CO LTD(1)

Address

:

Phai Luong Resettlement Area Chi Lang Ward, Lang Son, Lang Son

Country

:

Vietnam

Phone (S)

:

[+84] 25-6252668

Facsimile

:

[+84] 25-3815799

Website

:

http://www.kimphucha.vn

Primary Business Activity

:

Trader

Key Industry

:

Minerals / Mining

 

Key Facts

Registered Legal Address

:

Phai Luong Resettlement Area Chi Lang Ward, Lang Son, Lang Son

Operational Address

:

Phai Luong Resettlement Area Chi Lang Ward, Lang Son, Lang Son

Issuing Authority

:

Dept. of Planning & Investment - Lang Son

License Number

:

4900286334

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

:

24 Oct, 2011

Employees

:

10

Capital

:

US$ 477,539

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. Tran Manh Thang

Nationality

:

Vietnamese

 

COMPANY MANAGEMENT

 

Management Listings

 

 

Name

Nationality

Job Description

Dept. / Division

1

Ms. Do Kim Nhung

Vietnamese

Chief Accountant

-

2

Mr. Tran Manh Thang

Vietnamese

Managing Director

-

 

 

Management Details - 1

Personal Unique Identifier

:

MI03201044

Name

:

Ms. Do Kim Nhung

 

Date of Birth

:

1979

 

Management Details - 2

Personal Unique Identifier

:

MI03200222

Name

:

Mr. Tran Manh Thang

 

Date of Birth

:

1979

 

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03200222

Name

:

Mr. Tran Manh Thang

Date of Birth

:

1979

 

 

NEGATIVE INFORMATION

 

REPUTATION

Reference checking for the purpose of establishing KIM PHUC HA CO LTD'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

:

₫ 10,000,000,000

Paid-up Capital

:

₫ 10,000,000,000

 

SHAREHOLDERS

Total number of shareholders

:

2

Total number of shares

:

n/a

 

Currency

:

VND - Vietnam Dong

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

Mr. Tran Manh Thang

Vietnam

n/a

7,335,000,000

73.35

2

Ms. Nguyen Thu Hang

Vietnam

n/a

2,665,000,000

26.65

Total

n/a

10,000,000,000

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

40%

International Sales (Export)

60%

Annual Purchases Analysis

Percentage

Local Purchases

100%

Imports

0%

 

 

PAYMENT TERMS

Selling

Type

Terms

Local

Cash on delivery (COD)

Export

Letter of Credit (At-sight)

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

Purchasing

Type

Terms

Local

Cash on delivery (COD)

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

N/a

 

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

Year

Sales

Assets

Net Income

2011 Annual  

11,425,204

5,809,073

36,918

2012 Annual (*)

21,277,850

4,215,867

19,160

 

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(*)

110,460,000,000

77,346,000,000

Non Current Assets(*)

10,543,000,000

10,448,000,000

Share Capital(*)

10,000,000,000

10,000,000,000

Other long term assets 

Total Assets(*)

121,003,000,000

87,794,000,000

Total Liabilities(*)

110,234,000,000

77,395,000,000

Current Liabilities(*)

110,234,000,000

77,395,000,000

Long term liabilities 

Shareholders Funds(*)

10,769,000,000

10,399,000,000

 

Assets 

Current assets & short term investments

110,460,000,000

77,346,000,000

Cash & cash equivalents

15,045,000,000

734,000,000

Cash

15,045,000,000

734,000,000

Accounts receivable

74,589,000,000

45,750,000,000

Accounts receivable trade

74,589,000,000

45,418,000,000

Trade prepayment

-

332,000,000

Inventories

20,349,000,000

22,622,000,000

Other short term asset

477,000,000

8,240,000,000

VAT deductible

477,000,000

8,240,000,000

Long term assets

10,543,000,000

10,448,000,000

Fixed assets

10,543,000,000

10,448,000,000

Tangible fixed assets

10,543,000,000

10,448,000,000

Cost

10,797,000,000

10,797,000,000

Accumulated depreciation

254,000,000

349,000,000

Total assets

121,003,000,000

87,794,000,000

Liabilities

110,234,000,000

77,395,000,000

Current liabilities

110,234,000,000

77,395,000,000

Short term borrowings

12,899,000,000

25,964,000,000

Accounts payables-trade

96,862,000,000

47,690,000,000

Taxes and payable to state budget

473,000,000

3,741,000,000

Owner's equity

10,769,000,000

10,399,000,000

Business capital

10,000,000,000

10,000,000,000

Retained earnings

769,000,000

399,000,000

Total resources

121,003,000,000

87,794,000,000

Note: (*)

Financial Highlights

 

Income Statement

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2011 Annual

2012 Annual

Turnover(*)

237,987,000,000

443,104,000,000

Profit (Loss) Before Tax(*)

1,025,000,000

491,000,000

Profit After Tax attributable to Shareholders(*)

769,000,000

399,000,000

 

Gross sales

237,987,000,000

443,104,000,000

Less deductions

-

16,000,000

Net income

237,987,000,000

443,088,000,000

Cost of goods sold

231,312,000,000

432,802,000,000

Gross margin

6,675,000,000

10,286,000,000

Income from financial activities

673,000,000

727,000,000

Expenses from financial activities

4,808,000,000

8,857,000,000

In which: Interest expenses

1,402,000,000

3,456,000,000

General & administration expenses

1,073,000,000

1,633,000,000

Net income from operating activities

1,467,000,000

523,000,000

Extraordinary income

746,000,000

-

Extraordinary expenses

1,188,000,000

32,000,000

Extraordinary gains

(442,000,000)

(32,000,000)

Net profit before tax

1,025,000,000

491,000,000

Income tax

256,000,000

92,000,000

Net profit after tax

769,000,000

399,000,000

Note: (*)

Financial Highlights

 

 

Financial Ratios

 

Financial Highlights

2011 Annual

2012 Annual

Growth % 

Year-on-Year Growth

-

86.19

Profitability 

Profit Margin (%)

0.32

0.09

Return on Equity (%)

7.14

3.84

Return on Assets (%)

0.64

0.45

Leverage 

Total Debt Equity (Times)

10.24

7.44

Current Debt Equity (Times)

10.24

7.44

Total Asset To Total Equity

11.24

8.44

Asset Management 

Total Assets Turnover (Times)

1.97

5.05

Fixed Assets Turnover (Times)

22.57

42.41

Liquidity 

Current Ratio

1.00

1.00

 

 

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 basic 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

 

 

Report Details

 

 

Country

:

Vietnam

Business Entity Name

:

KIM PHUC HA CO LTD

Primary Business Activity

:

Trader

Primary Industry

:

Minerals / Mining

Office Contact Details

Operating Address

:

Phai Luong Resettlement Area Chi Lang Ward, Lang Son, Lang Son

Tel

:

[+84] 25-6252668

Fax

:

[+84] 25-3815799

Website Details

Website

:

http://www.kimphucha.vn

Status

:

Normal - operational

Country of Registration

:

Vietnam

Ownership Type

:

Registered ownership by Subject Business Entity

 

Primary Products

Products / Materials / Services Description

Activity

Alloy

Trading, Exporting

Coal

Trading, Exporting

Mineral ores

Trading, Exporting

 

International Trade - Statistics  (Currency: USD - US Dollar)

Year

Imports

Exports

Total

2011

n/a

6,855,122

6,855,122

2012

n/a

12,766,710

12,766,710

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Coal & Other Minerals & Ores

5052

Trading, Exporting

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Coal; briquettes, ovoids etc, mfr from coal

2701

Trading, Exporting

Mineral substances nesoi

2530

Trading, Exporting

 

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of KIM PHUC HA CO LTD is Trading - Minerals.

Key products include :

Alloy

Coal

Mineral ores

Supplementary Business

In addition to the core business, KIM PHUC HA CO LTD also is engaged in the following areas of business:

Exporting

Exporting - Minerals

 

BANK DETAILS

Bank Name

:

JOINT STOCK COMMERCIAL BANK FOR INVESTMENT & DEVELOPMENT OF VIETNAM

Global Identifier

:

32400483

Branch

:

Hoan Kiem Dist,Hanoi

Branch Address

:

194 Tran Quang Khai Hoan Kiem Dist Hanoi (Head Office)

SWIFT Code

:

BIDVVNVX

 

Bank Name

:

JOINT STOCK COMMERCIAL BANK FOR INVESTMENT & DEVELOPMENT OF VIETNAM

Global Identifier

:

32400483

Branch

:

Hoan Kiem Dist,Hanoi

Branch Address

:

LANG SON BRANCH

SWIFT Code

:

BIDVVNVX

 

LOCAL BRANCHES & MANAGEMENT

Branch

:

KIM PHUC HA CO LTD - HAI BA TRUNG DIST, HANOI

Branch Address

:

2Fl, 61 Tran Nhan Tong St, Hai Ba Trung Dist, Hanoi

 

Branch

:

KIM PHUC HA CO LTD - LANG GIANG DIST, BAC GIANG

Branch Address

:

Phi Mo Commune, Lang Giang Dist, Bac Giang

 

 

INTERNATIONAL TRADE - Activity & Markets

 

 

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Exporting

 

OFFICE & FACILITIES

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

Name

:

KIM PHUC HA CO LTD - LANG SON, LANG SON

Primary Use

:

Office & Administration facilities

Address

:

Phai Luong Resettlement Area Chi Lang Ward, Lang Son, Lang Son

Country

:

Vietnam

Status

:

Operational

 

PREVIOUS CONTACT DETAILS

Company Address

:

1B Tran Quang Khai St Chi Lang Ward, Lang Son, Lang Son

Date of Relocation

:

20 Oct, 2012

 

 

PREVIOUS BUSINESS LICENSE/S

License Date

License No.

6 Oct, 2008

1402000364

 

 

 

 

NOTES & COMMENTS

 

N/a

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.75

UK Pound

1

Rs.100.06

Euro

1

Rs.77.95

 

INFORMATION DETAILS

 

Analysis Done by :

 SUM

 

 

Report Prepared by :

SDA

 

               

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.