MIRA INFORM REPORT

 

 

Report Date :

13.10.2014

 

IDENTIFICATION DETAILS

 

Name :

LION VIETNAM JSC

 

 

Registered Office :

Khu Bo Tri Tai SX Cac DN Thuoc KLH CN-DV & DT Binh Duong (Binh Duong Industrial - Service and Urban Complex), Thu Dau Mot, Binh Duong

 

 

Country :

Vietnam

 

 

Financials (as on) :

2013

 

 

Date of Incorporation :

19.10.2010

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacturer of Plastics and Products.

 

 

No. of Employees :

150

 

 

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)

Vietnam

B1

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

:

LION VIETNAM JSC (1)

Address

:

Khu Bo Tri Tai SX Cac DN Thuoc KLH CN-DV & DT Binh Duong (Binh Duong Industrial - Service and Urban Complex), Thu Dau Mot, Binh Duong

Country

:

Vietnam

Phone (S)

:

[+84] 650-3865011

Facsimile

:

[+84] 650-3865010

Email

:

info@lionvietnam.com.vn

Primary Business Activity

:

Manufacturer

Key Industry

:

Plastics & Products

 

 

Key Facts

 

Registered Legal Address

:

Khu Bo Tri Tai SX Cac DN Thuoc KLH CN-DV & DT Binh Duong (Binh Duong Industrial - Service and Urban Complex), Thu Dau Mot, Binh Duong

Operational Address

:

Khu Bo Tri Tai SX Cac DN Thuoc KLH CN-DV & DT Binh Duong (Binh Duong Industrial - Service and Urban Complex), Thu Dau Mot, Binh Duong

Issuing Authority

:

People's Committee - Binh Duong

License Number

:

461033000679

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

:

19 Oct, 2010

Employees

:

150

Capital

:

US$ 1,000,000

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.

 

 

Report Details

 

 

Country

:

Vietnam

Business Entity Name

:

LION VIETNAM JSC

Primary Business Activity

:

Manufacturer

Primary Industry

:

Plastics & Products

Office Contact Details

Operating Address

:

Khu Bo Tri Tai SX Cac DN Thuoc KLH CN-DV & DT Binh Duong (Binh Duong Industrial - Service and Urban Complex), Thu Dau Mot, Binh Duong

Tel

:

[+84] 650-3865011

 

:

[+84] 650-3865012

Fax

:

[+84] 650-3865010

Email

:

info@lionvietnam.com.vn

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

:

3701799403

Date of Issuance

:

5 Nov, 2010

 

 

DIRECTORS/MANAGEMENT

 

Key Person

Legal Title

:

Managing Director

Name

:

Mr. Baljeet Singh

Nationality

:

Indian

 

 

COMPANY MANAGEMENT

 

Management Listings

 

 

Name

Nationality

Job Description

Dept. / Division

1

Mr. Dang Viet Ha

Vietnamese

Accountant

-

 

Management Details - 1

Personal Unique Identifier

:

MI03169538

Name

:

Mr. Dang Viet Ha

 

Date of Birth

:

1978

 

 

COMPANY DIRECTORS

 

1

 

 

Personal Unique Identifier

:

MI03169520

Name

:

Mr. Baljeet Singh

Date of Birth

:

1971

 

 

NEGATIVE INFORMATION

 

 

REPUTATION

 

Reference checking for the purpose of establishing LION VIETNAM JSC'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

 

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

 

CIVIL LITIGATION

 

No Record Found

 

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

 

PERFORMANCE DEFAULTS

 

No Record Found

 

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

 

ADVERSE LOCAL MEDIA COVERAGE / ADVERSE FILING HISTORY

 

No Record Found

 

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

 

SHARE & SHARE CAPITAL INFORMATION

 

 

CAPITAL (Currency: USD - US Dollar)

 

Authorized Capital

:

$ 1,000,000

 

 

 

 

SHAREHOLDERS

 

Total number of shareholders

:

3

Total number of shares

:

n/a

 

Currency

:

USD - US Dollar

 

No.

Shareholders

Country

Shares

Number

Amount (USD)

%

1

LION HOLDINGS PVT LTD

India

n/a

n/a

75.00

2

RIEKE LAMONS NEDERLAND HOLDINGS BV

Netherlands

n/a

n/a

24.90

3

Mr. Ridham Bahri

Vietnam

n/a

n/a

0.10

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

 

 

PAYMENT TERMS

 

Selling

 

Type

Terms

Local

Cash on delivery (COD)

Credit - Secured with Post-dated checks 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 - Secured with Post-dated checks 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

:

LION HOLDINGS PVT LTD

Global Identifier

:

P2184127

Legal Form Category

:

Private Company with Limited Liability

Country

:

India

Operational Address

:

C-9 UPSIDC Site IV Kasna Rd Greater Noida Uttar Pradesh 201306

Primary Business Activity

:

Manufacturer

 

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

Year

Sales

Assets

Net Income

2011 Annual  

861,594

1,858,281

-94,191

2012 Annual  

2,654,593

2,005,315

336,476

2013 Annual  

2,868,633

2,109,247

439,348

 

Sales Trend – Analysis

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

-

-

-

-

-

-

-

-

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

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

2011 Annual

2012 Annual

2013 Annual

Current Assets(*)

20,670,000,000

20,993,000,000

28,289,000,000

Non Current Assets(*)

18,038,000,000

20,767,000,000

16,191,000,000

Non Current Liabilities(*)

416,000,000

12,727,000,000

8,927,000,000

Other long term assets 

Total Assets(*)

38,708,000,000

41,760,000,000

44,480,000,000

Total Liabilities(*)

21,391,000,000

20,565,000,000

16,869,000,000

Current Liabilities(*)

20,975,000,000

7,838,000,000

7,942,000,000

Long term liabilities 

Shareholders Funds(*)

17,317,000,000

21,195,000,000

27,611,000,000

 

Current assets & short term investments

20,670,000,000

20,993,000,000

28,289,000,000

Cash & cash equivalents

10,739,000,000

8,030,000,000

7,964,000,000

Cash

10,739,000,000

8,030,000,000

7,964,000,000

Accounts receivable

3,673,000,000

6,590,000,000

7,137,000,000

Accounts receivable trade

2,722,000,000

5,508,000,000

5,710,000,000

Trade prepayment

951,000,000

1,031,000,000

1,400,000,000

Others receivables

-

51,000,000

27,000,000

Inventories

5,409,000,000

5,177,000,000

11,343,000,000

Inventories (I)

5,409,000,000

5,177,000,000

11,343,000,000

Other short term asset

-

1,196,000,000

1,845,000,000

Prepaid expenses

222,000,000

238,000,000

72,000,000

VAT deductible

580,000,000

872,000,000

1,715,000,000

Other tax receivables

-

1,000,000

-

Other short term asset (I)

47,000,000

85,000,000

58,000,000

Long term assets

18,038,000,000

20,767,000,000

16,191,000,000

Accounts of long term receivable

1,145,000,000

1,146,000,000

-

Other long term receivables

1,145,000,000

1,146,000,000

-

Fixed assets

16,893,000,000

19,621,000,000

14,798,000,000

Tangible fixed assets

16,893,000,000

19,621,000,000

14,798,000,000

Cost

19,220,000,000

26,395,000,000

26,958,000,000

Accumulated depreciation

2,327,000,000

6,774,000,000

12,160,000,000

Other long term assets

-

-

1,393,000,000

Long term prepayments

-

-

233,000,000

Other long term assets (I)

-

-

1,160,000,000

Total assets

38,708,000,000

41,760,000,000

44,480,000,000

Liabilities

21,391,000,000

20,565,000,000

16,869,000,000

Current liabilities

20,975,000,000

7,838,000,000

7,942,000,000

Short term borrowings

156,000,000

156,000,000

156,000,000

Accounts payables-trade

19,614,000,000

1,735,000,000

2,155,000,000

Taxes and payable to state budget

4,000,000

1,560,000,000

1,214,000,000

Payable to employees

517,000,000

534,000,000

529,000,000

Accrued expenses payable

99,000,000

457,000,000

527,000,000

Other payables

585,000,000

3,396,000,000

3,361,000,000

Long term liabilities

416,000,000

12,727,000,000

8,927,000,000

Long term borrowings

416,000,000

12,727,000,000

8,927,000,000

Owner's equity

17,317,000,000

21,195,000,000

27,611,000,000

Owner's equity (I)

17,317,000,000

21,195,000,000

27,611,000,000

Business capital

19,000,000,000

19,000,000,000

19,000,000,000

Business development funds

280,000,000

-

-

Retained earnings

(1,963,000,000)

2,195,000,000

8,611,000,000

Total resources

38,708,000,000

41,760,000,000

44,480,000,000

 

Note: (*)

 

Financial Highlights

 

 

Income Statement

 

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

 

Financial Highlights

2011 Annual

2012 Annual

2013 Annual

Turnover(*)

17,947,000,000

55,281,000,000

60,494,000,000

Profit (Loss) Before Tax(*)

(1,962,000,000)

8,190,000,000

12,388,000,000

Profit After Tax attributable to Shareholders(*)

(1,962,000,000)

7,007,000,000

9,265,000,000

 

Gross sales

17,947,000,000

55,281,000,000

60,494,000,000

Net income

17,947,000,000

55,281,000,000

60,494,000,000

Cost of goods sold

15,080,000,000

34,282,000,000

38,443,000,000

Gross margin

2,867,000,000

20,999,000,000

22,051,000,000

Income from financial activities

792,000,000

348,000,000

391,000,000

Expenses from financial activities

625,000,000

954,000,000

1,107,000,000

In which: Interest expenses

-

922,000,000

917,000,000

Selling expenses

1,638,000,000

6,507,000,000

5,664,000,000

General & administration expenses

3,368,000,000

6,163,000,000

4,043,000,000

Net income from operating activities

(1,972,000,000)

7,723,000,000

11,628,000,000

Extraordinary income

10,000,000

467,000,000

760,000,000

Extraordinary gains

10,000,000

467,000,000

760,000,000

Net profit before tax

(1,962,000,000)

8,190,000,000

12,388,000,000

Income tax

-

1,183,000,000

3,123,000,000

Net profit after tax

(1,962,000,000)

7,007,000,000

9,265,000,000

 

Note: (*)

 

Financial Highlights

 

 

Financial Ratios

 

Financial Highlights

2011 Annual

2012 Annual

2013 Annual

Growth % 

Year-on-Year Growth

-

208.02

9.43

Profitability 

Profit Margin (%)

(10.93)

12.68

15.32

Return on Equity (%)

(11.33)

33.06

33.56

Return on Assets (%)

(5.07)

16.78

20.83

Leverage 

Total Debt Equity (Times)

1.24

0.97

0.61

Current Debt Equity (Times)

1.21

0.37

0.29

Long Term Debt to Equity

0.02

0.60

0.32

Total Asset To Total Equity

2.24

1.97

1.61

Asset Management 

Total Assets Turnover (Times)

0.46

1.32

1.36

Fixed Assets Turnover (Times)

0.99

2.66

3.74

Liquidity 

Current Ratio

0.99

2.68

3.56

 

 

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

 

NA

 

 

ADDITIONAL INFORMATION

 

Primary Products

Products / Materials / Services Description

Activity

Plastic caps

Manufacturing, Exporting

 

 

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

Year

Imports

Exports

Total

2011

n/a

775,434

775,434

2012

n/a

2,389,134

2,389,134

2013

n/a

2,581,770

2,581,770

 

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Product/Service Description

Code

Activity

Plastics products, nspf

3089

Manufacturing, Exporting

 

 

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Product/Service Description

Code

Activity

Plastics & articles thereof

3900

Manufacturing, Exporting

Stoppers,lids,caps,& other closures,of plastic

3923500000

Manufacturing, Exporting

 

 

 

CORE BUSINESS DESCRIPTION

 

 

 

Core Business

 

The primary business focus of LION VIETNAM JSC is Manufacturing - Finished products.

Key product include :

Plastic caps


An integral part of the core business includes:

Distribution

 

 

 

Supplementary Business

 

In addition to the core business, LION VIETNAM JSC also is engaged in the following areas of business:

Exporting

Exporting - Finished products

Importing

Importing - Raw materials

 

 

 

DOMESTIC SALES & PURCHASES

 

 

 

Annual Sales Analysis

Percentage

Domestic Sales

10%

International Sales (Export)

90%

 

 

 

 

Annual Purchases Analysis

Percentage

Local Purchases

40%

Imports

60%

 

 

 

 

BANK DETAILS

 

 

 

Bank Name

:

PETROLIMEX GROUP COMMERCIAL JOINT STOCK BANK

Global Identifier

:

P1067566

Branch

:

Dong Da,Hanoi

Branch Address

:

PETROLIMEX GROUP COMMERCIAL JOINT STOCK BANK

SWIFT Code

:

PGBLVNVX

 

 

 

INTERNATIONAL TRADE - Activity & Markets

 

 

 

 

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing, Exporting

Middle-East

Medium

Exporting

Bangladesh

Medium

Exporting

China

Medium

Importing, Exporting

India

Medium

Importing, Exporting

Indonesia

Medium

Exporting

Saudi Arabia

Medium

Exporting

 

 

 

 

OFFICE & FACILITIES

 

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

 

Name

:

LION VIETNAM JSC - THU DAU MOT, BINH DUONG

Primary Use

:

Office & Administration facilities

Address

:

Khu Bo Tri Tai SX Cac DN Thuoc KLH CN-DV & DT Binh Duong (Binh Duong Industrial - Service and Urban Complex), Thu Dau Mot, Binh Duong

Country

:

Vietnam

Status

:

Operational

 

 

 

 

PREVIOUS CONTACT DETAILS

 

 

 

Company Address

:

Vietnam Singapore Industrial Zone 2 Rd 9, Thu Dau Mot Town, Binh Duong

 

 

NOTES & COMMENTS

 

NA

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.16

UK Pound

1

Rs.98.62

Euro

1

Rs.77.67

 

INFORMATION DETAILS

 

Analysis Done by :

SUM

 

 

Report Prepared by :

NIT

 

               

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.