MIRA INFORM REPORT

 

 

Report Date :

04.10.2014

 

IDENTIFICATION DETAILS

 

Name :

HANOI TRADE CORP - HOCHIMINH CITY BRANCH

 

 

Registered Office :

77-79 Pho Duc Chinh St, District 1, Ho Chi Minh

 

 

Country :

Vietnam

 

 

Financials (as on) :

2012

 

 

Date of Incorporation :

19.11.2012

 

 

Legal Form :

Private Company with Limited Liability

 

 

Line of Business :

Manufacturer of Agricultural Products

 

 

No. of Employees :

122

 

 

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 :

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)

Vietnam

B1

B1

 

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

:

HANOI TRADE CORP - HOCHIMINH CITY BRANCH

Address

:

77-79 Pho Duc Chinh St, District 1, Ho Chi Minh

Country

:

Vietnam

Phone (S)

:

[+84] 8-38217180

Facsimile

:

[+84] 8-35213821

Email

:

hapro@hcm.vnn.vn

Website

:

http://www.haprocraft.com

Primary Business Activity

:

Manufacturer

Key Industry

:

Agricultural Products

 

Key Facts

 

Registered Legal Address

:

77-79 Pho Duc Chinh St, District 1, Ho Chi Minh

Operational Address

:

77-79 Pho Duc Chinh St, District 1, Ho Chi Minh

Trading Name

:

HAPROSIMEX SAIGON
HAPRO - HOCHIMINH

Issuing Authority

:

Dept. of Planning & Investment - Ho Chi Minh

License Number

:

0100101273-001

License Status

:

License exists - Normal.

Legal Form - Category

:

Private Company with Limited Liability

Legal Form

:

Corporation

Legal Form - Abbreviation

:

CORP

Operational Status of Business

:

Normal

Date of Registration

:

19 Nov, 2012

Employees

:

122

Capital

:

US$ 190,931

 

Credit opinion

:

Credit can proceed on a favorable basis but in strict adherence to financing terms.

 

 

DIRECTORS/MANAGEMENT

 

Key Person

Legal Title

:

Managing Director

Name

:

Mr. Tran Van Ty

Nationality

:

Vietnamese

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Ms. Tran Van Anh

Vietnamese

Chief Accountant

-

2

Ms. Duong Thi Nam

Vietnamese

Deputy Managing Director

-

3

Mr. Le Thi Hai Yen

Vietnamese

Deputy Managing Director

-

Management Details - 1

Personal Unique Identifier

:

MI02902968

Name

:

Ms. Tran Van Anh

 

Date of Birth

:

1976

Management Details - 2

Personal Unique Identifier

:

MI02902983

Name

:

Ms. Duong Thi Nam

 

Date of Birth

:

1961s

Management Details - 3

Personal Unique Identifier

:

MI03585586

Name

:

Mr. Le Thi Hai Yen

 

Date of Birth

:

1970

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03585587

Name

:

Mr. Tran Van Ty

Date of Birth

:

1959

Nationality

:

Vietnamese

 

 

NEGATIVE INFORMATION

 

REPUTATION

Reference checking for the purpose of establishing the HANOI TRADE CORP - HOCHIMINH CITY BRANCH'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

 

 

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

:

4,000,000,000

 

SHAREHOLDERS

Total number of shareholders

:

1

Total number of shares

:

n/a

 

Currency

:

VND - Vietnam Dong

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

HANOI TRADE 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

30%

International Sales (Export)

70%

Annual Purchases Analysis

Percentage

Local Purchases

50%

Imports

50%

 

PAYMENT TERMS

Selling

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~60 days

Export

Letter of Credit (At-sight)

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

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

 

N/a

 

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

Year

Sales

Assets

Net Income

2011 Annual

56,263,658

12,262,650

150,552

2012 Annual (*)

49,449,835

13,754,558

89,077

 

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

248,355,000,000

275,619,000,000

Non Current Assets

7,076,000,000

10,815,000,000

Non Current Liabilities

45,000,000

9,000,000

Share Capital

3,135,000,000

3,135,000,000

Other long term assets 

Total Assets

255,431,000,000

286,434,000,000

Total Liabilities

252,078,000,000

283,299,000,000

Current Liabilities

252,033,000,000

283,290,000,000

Long term liabilities 

Shareholders Funds

3,353,000,000

3,135,000,000

 

Current assets & short term investments

248,355,000,000

275,619,000,000

Cash & cash equivalents

21,128,000,000

26,177,000,000

Cash

21,128,000,000

26,177,000,000

Short term investments

140,000,000

140,000,000

Short term securities investments

140,000,000

140,000,000

I. Accounts receivable

184,686,000,000

215,271,000,000

II. Accounts receivable trade

80,153,000,000

75,387,000,000

Trade prepayment

104,728,000,000

139,429,000,000

Inter company receivables

-

43,000,000

Others receivables

46,000,000

653,000,000

Provision for bad debts

(241,000,000)

(241,000,000)

I. Inventories

28,091,000,000

19,554,000,000

II. Inventories

28,091,000,000

19,554,000,000

I. Other short term asset

14,310,000,000

14,477,000,000

Prepaid expenses

1,215,000,000

-

VAT deductible

12,368,000,000

13,126,000,000

II. Other short term asset

727,000,000

1,351,000,000

Long term assets

7,076,000,000

10,815,000,000

Fixed assets

1,837,000,000

5,395,000,000

Tangible fixed assets

1,837,000,000

5,395,000,000

I. Cost

10,937,000,000

15,191,000,000

I. Accumulated depreciation

9,100,000,000

9,796,000,000

II. Cost

150,000,000

150,000,000

II. Accumulated depreciation

150,000,000

150,000,000

Long term investments

4,800,000,000

4,800,000,000

Invest to joint venture company

4,000,000,000

4,000,000,000

Other long term investments

800,000,000

800,000,000

Other long term assets

439,000,000

620,000,000

Long term prepayments

439,000,000

620,000,000

Total assets

255,431,000,000

286,434,000,000

Liabilities

252,078,000,000

283,299,000,000

Current liabilities

252,033,000,000

283,290,000,000

Short term borrowings

179,786,000,000

194,300,000,000

Accounts payables-trade

13,732,000,000

13,880,000,000

Advances from customers

6,922,000,000

5,425,000,000

Taxes and payable to state budget

113,000,000

102,000,000

Payable to employees

521,000,000

2,385,000,000

Accrued expenses payable

16,000,000

16,000,000

Inter company payable

50,751,000,000

66,797,000,000

Other payables

192,000,000

123,000,000

I. Bonus and welfare funds

-

262,000,000

Long term liabilities

45,000,000

9,000,000

Provision funds for unemployment

45,000,000

9,000,000

I. Owner's equity

3,353,000,000

3,135,000,000

II. Owner's equity

3,135,000,000

3,135,000,000

Business capital

3,135,000,000

3,135,000,000

Budget sources

218,000,000

-

II. Bonus and welfare funds

218,000,000

-

Total resources

255,431,000,000

286,434,000,000

 

Income Statement

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2011 Annual

2012 Annual

Turnover

1,171,972,000,000

1,029,776,000,000

Profit (Loss) Before Tax

3,136,000,000

1,855,000,000

Profit After Tax attributable to Shareholders

3,136,000,000

1,855,000,000

 

Gross sales

1,171,972,000,000

1,029,776,000,000

Net income

1,171,972,000,000

1,029,776,000,000

Cost of goods sold

1,130,928,000,000

970,728,000,000

Gross margin

41,044,000,000

59,048,000,000

Income from financial activities

49,383,000,000

27,033,000,000

Expenses from financial activities

41,311,000,000

28,126,000,000

In which: Interest expenses

36,480,000,000

-

Selling expenses

28,808,000,000

40,619,000,000

General & administration expenses

16,025,000,000

14,291,000,000

Net income from operating activities

4,283,000,000

3,045,000,000

Extraordinary income

3,000,000

-

Extraordinary expenses

1,150,000,000

1,190,000,000

Extraordinary gains

(1,147,000,000)

(1,190,000,000)

Net profit before tax

3,136,000,000

1,855,000,000

Net profit after tax

3,136,000,000

1,855,000,000

 

Financial Ratios

Financial Highlights

2011 Annual

2012 Annual

Growth % 

Year-on-Year Growth

-

(12.13)

Profitability 

Profit Margin (%)

0.27

0.18

Return on Equity (%)

93.53

59.17

Return on Assets (%)

1.23

0.65

Leverage 

Total Debt Equity (Times)

75.18

90.37

Current Debt Equity (Times)

75.17

90.36

Long Term Debt to Equity

0.01

0.00

Total Asset To Total Equity

76.18

91.37

Asset Management 

Total Assets Turnover (Times)

4.59

3.60

Fixed Assets Turnover (Times)

165.63

95.22

Liquidity 

Current Ratio

0.99

0.97

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

 

Report Details

 

 

Country

:

Vietnam

Business Entity Name

:

HANOI TRADE CORP - HOCHIMINH CITY BRANCH

Primary Business Activity

:

Manufacturer

Primary Industry

:

Agricultural Products

Office Contact Details

Operating Address

:

77-79 Pho Duc Chinh St, District 1, Ho Chi Minh

Tel

:

[+84] 8-38217180

 

:

[+84] 8-38216253

Fax

:

[+84] 8-35213821

 

:

[+84] 8-38216250

 

:

[+84] 8-38216251

 

:

[+84] 8-35216250

Email

:

hapro@hcm.vnn.vn
hap@hcm.vnn.vn
hapro-hcm@haprogroup.vn

Website Details

Website

:

http://www.haprocraft.com

Status

:

Normal - operational

Country of Registration

:

Vietnam

Ownership Type

:

Registered ownership by Subject Business Entity

 

Primary Products

Products / Materials / Services Description

Activity

Farm products

Manufacturing, Exporting

Fishery products

Manufacturing, Exporting

Foodstuffs

Manufacturing, Exporting

Forestry products

Manufacturing, Exporting

Handicrafts

Manufacturing, Exporting

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Farm Supplies

5191

Manufacturing, Exporting

Fish & Seafoods

5146

Manufacturing, Exporting

Food and Kindred Products

2000

Manufacturing, Exporting

Food products, nspf

2099

Manufacturing, Exporting

Forestry products, nspf

0831

Manufacturing, Exporting

Furniture and Fixtures

2500

Manufacturing, Exporting

Furniture and Homefurnishings

5700

Manufacturing, Exporting

Industrial Machinery & Equipment

3500

Importing

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Agricultural, horticultural or forestry tools and parts, base metal

8205594000

Manufacturing, Exporting

Basketwork, wickerwork and other articles of vegetables materials

4602108000

Manufacturing, Exporting

Basketwork, wickerwork of plaits etc; loofa article

4602

Manufacturing, Exporting

Fish & crustaceans

0300

Manufacturing, Exporting

Food preparations

2106

Manufacturing, Exporting

Furniture nesoi and parts thereof

9403

Manufacturing, Exporting

Furniture of other materials

9403806000

Manufacturing, Exporting

Machines etc having individual functions nesoi, parts

8479

Importing

 

 

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

 

Products / Materials / Services Description

Ranking

Activity

Industrial machinery

Secondary

Importing

 

 

CORE BUSINESS DESCRIPTION

 

Core Business

 

The primary business focus of HANOI TRADE CORP - HOCHIMINH CITY BRANCH is Manufacturing - Finished products.

Key products include:

Farm products

Fishery products

Foodstuffs

Forestry products

Handicrafts


An integral part of the core business includes:

Distribution

 

Supplementary Business

 

In addition to the core business, HANOI TRADE CORP - HOCHIMINH CITY BRANCH also is engaged in the following areas of business:

Exporting

Exporting - Finished products

Importing

Importing - Finished products

Importing - Raw materials

 

BANK DETAILS

 

Bank Name

:

DONG A COMMERCIAL JOINT STOCK BANK

Global Identifier

:

P1007587

Branch

:

Phu Nhuan,Ho Chi Minh

Branch Address

:

DONG A COMMERCIAL JOINT STOCK BANK, TRANSACTION OFFICE

SWIFT Code

:

EACBVNVX

 

Bank Name

:

HO CHI MINH CITY DEVELOPMENT JOINT STOCK COMMERCIAL BANK

Global Identifier

:

P2015104

Branch

:

Phu Nhuan,Ho Chi Minh

Branch Address

:

SAIGON

SWIFT Code

:

HDBCVNV

 

Bank Name

:

MILITARY COMMERCIAL JOINT STOCK BANK

Global Identifier

:

P0387295

Branch

:

Dong Da,Hanoi

Branch Address

:

BAC SAI GON

SWIFT Code

:

MSCBVNVX

 

Bank Name

:

VIETNAM PROSPERITY JOINT STOCK COMMERCIAL BANK

Global Identifier

:

P1854843

Branch

:

Hoan Kiem Dist,Hanoi

Branch Address

:

HO CHI MINH

SWIFT Code

:

VPBKVNVX

 

 

INTERNATIONAL TRADE - Activity & Markets

 

 

Country / Region

Estimated level of importance

Trading Activity

Africa

Medium

Exporting

Asia / Pacific

Medium

Importing, Exporting

Europe

Medium

Importing, Exporting

Middle-East

Medium

Exporting

China

Medium

Importing

Germany

Medium

Importing

India

Medium

Importing

Malaysia

Medium

Importing

Singapore

Medium

Importing

Thailand

Medium

Importing

 

 

QUALITY ACCREDITATION

 

Quality Accreditation Listings

 

#

Name

Accreditation Category

1

INTERNATIONAL STANDARDS ORGANIZATION (ISO)

9001:2008

 

 

PREVIOUS BUSINESS LICENSE/S

 

License Date

License No.

2 Jan, 1999

616/QD-UB

3 Dec, 2004

4116000371

 

 

REAL ESTATE OWNERSHIP

 

The following property / ies are owned by HANOI TRADE CORP - HOCHIMINH CITY BRANCH:

 

 

 

Property Name

:

HANOI TRADE CORP - HOCHIMINH CITY BRANCH - DISTRICT 1, HO CHI MINH

Type of Property

:

Office & Administration

Address

:

77-79 Pho Duc Chinh St, District 1, Ho Chi Minh

Office Size

:

200 Square meters

 

 

 

 

 

 

NOTES & COMMENTS

 

N/a

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.75

UK Pound

1

Rs.100.07

Euro

1

Rs.77.95

 

 

INFORMATION DETAILS

 

Report Prepared by :

TPT

 

 

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.