MIRA INFORM REPORT

 

 

Report Date :

22.10.2014

 

IDENTIFICATION DETAILS

 

Name :

PHUC HUNG TRANSPORT AND TRADING ONE MEMBER CO LTD

 

 

Registered Office :

Ga St Phu Thai Town, Kim Thanh Dist, Hai Duong, Hai Duong

 

 

Country :

Vietnam

 

 

Financials (as on) :

2012

 

 

Date of Incorporation :

01.06.2009

 

 

Legal Form :

Private Company with Limited Liability

 

 

Line of Business :

Subject is Specialized professional services, including:

·         Transportation

 

 

No of Employees :

25

 

 

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 :

Unknown

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

:

PHUC HUNG TRANSPORT AND TRADING ONE MEMBER CO LTD (1)

Address

:

13/34 Phu Thuong Doan Dong Hai 1 Ward, Hai An Dist, Haiphong

Country

:

Vietnam

Phone (S)

:

[+84] 320-3720765

Facsimile

:

[+84] 320-3561169

Email

:

phuchungkt@yahoo.com.vn

Primary Business Activity

:

Service

Key Industry

:

Transportation

 

Key Facts

Registered Legal Address

:

Ga St Phu Thai Town, Kim Thanh Dist, Hai Duong, Hai Duong

 

Operational Address

:

13/34 Phu Thuong Doan Dong Hai 1 Ward, Hai An Dist, Haiphong

 

Trading Name

:

PHC

 

Issuing Authority

:

Dept. of Planning & Investment - Hai Phong

 

License Number

:

0800677418

 

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

:

1 Jun, 2009

 

Employees

:

25

 

Capital

:

US$ 190,945

 

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

:

PHUC HUNG TRANSPORT AND TRADING ONE MEMBER CO LTD

Primary Business Activity

:

Service

Primary Industry

:

Transportation

Office Contact Details

Operating Address

:

13/34 Phu Thuong Doan Dong Hai 1 Ward, Hai An Dist, Haiphong

Tel

:

[+84] 320-3720765

 

:

[+84] 31-3555598

 

:

[+84] 31-3614976

Fax

:

[+84] 320-3561169

Email

:

phuchungkt@yahoo.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

:

0800677418

 

 

 

DIRECTORS/MANAGEMENT

 

Key Person

Legal Title

:

Managing Director

Name

:

Mr. Nguyen Hiep Hung

Nationality

:

Vietnamese

 

 

 

COMPANY MANAGEMENT

 

 

 

Management Listings

 

 

Name

Nationality

Job Description

Dept. / Division

1

Ms. Pham Thi Nhien

Vietnamese

Chief Accountant

-

 

 

Management Details - 1

Personal Unique Identifier

:

MI03780007

Name

:

Ms. Pham Thi Nhien

 

Date of Birth

:

1984

 

COMPANY DIRECTORS

 

1

 

 

Personal Unique Identifier

:

MI03780000

Name

:

Mr. Nguyen Hiep Hung

Date of Birth

:

1971

 

 

NEGATIVE INFORMATION

 

 

REPUTATION

 

Reference checking for the purpose of establishing PHUC HUNG TRANSPORT AND TRADING ONE MEMBER 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

 

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: 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

Mr. Nguyen Hiep Hung

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

 

Na

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

Na

 

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

Year

Sales

Assets

Net Income

2012 Annual (*)

271,409

356,837

23,482

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

2012 Annual

Current Assets(*)

2,646,000,000

Non Current Assets(*)

4,785,000,000

Non Current Liabilities(*)

1,150,000,000

Share Capital(*)

4,000,000,000

Other long term assets 

Total Assets(*)

7,431,000,000

Total Liabilities(*)

2,464,000,000

Current Liabilities(*)

1,314,000,000

Long term liabilities 

Shareholders Funds(*)

4,967,000,000

 

Current assets & short term investments

2,646,000,000

Cash & cash equivalents

367,000,000

Cash

367,000,000

Accounts receivable

1,088,000,000

Accounts receivable trade

1,088,000,000

Inventories

1,191,000,000

i. Inventories

1,191,000,000

Long term assets

4,785,000,000

Fixed assets

4,785,000,000

Tangible fixed assets

4,785,000,000

Cost

6,851,000,000

Accumulated depreciation

2,066,000,000

Total assets

7,431,000,000

Liabilities

2,464,000,000

Current liabilities

1,314,000,000

Short term borrowings

749,000,000

Accounts payables-trade

341,000,000

Taxes and payable to state budget

224,000,000

Long term liabilities

1,150,000,000

Long term borrowings

1,150,000,000

Owner's equity

4,967,000,000

i. Owner's equity

4,967,000,000

Business capital

4,000,000,000

Retained earnings

967,000,000

Total resources

7,431,000,000

 

Note: (*)

 

Financial Highlights

 

 

Income Statement

 

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

 

Financial Highlights

2012 Annual

Turnover(*)

5,652,000,000

Profit (Loss) Before Tax(*)

653,000,000

Profit After Tax attributable to Shareholders(*)

489,000,000

 

Gross sales

5,652,000,000

Net income

5,652,000,000

Cost of goods sold

4,221,000,000

Gross margin

1,431,000,000

Expenses from financial activities

214,000,000

In which: Interest expenses

214,000,000

General & administration expenses

564,000,000

Net income from operating activities

653,000,000

Net profit before tax

653,000,000

Income tax

163,000,000

Net profit after tax

489,000,000

 

Note: (*)

 

Financial Highlights

 

 

Financial Ratios

 

Financial Highlights

2012 Annual

Profitability 

Profit Margin (%)

8.65

Return on Equity (%)

9.84

Return on Assets (%)

6.58

Leverage 

Total Debt Equity (Times)

0.50

Current Debt Equity (Times)

0.26

Long Term Debt to Equity

0.23

Total Asset To Total Equity

1.50

Asset Management 

Total Assets Turnover (Times)

0.76

Fixed Assets Turnover (Times)

1.18

Liquidity 

Current Ratio

2.01

 

 

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

 

Primary Products

Products / Materials / Services Description

Activity

Transportation

Service

 

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Product/Service Description

Code

Activity

Transportation Services

4700

Service

Transportation Svcs, NEC

4789

Service

 

 

 

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Product/Service Description

Code

Activity

Business services, health, financial/insur. legal/real estate, hotels, and misc repairs

9900

Service

Freight transportation arrangement, nvocc, customs brokerage

9852

Service

 

 

 

 

CORE BUSINESS DESCRIPTION

 

 

 

Core Business

 

The primary business focus of PHUC HUNG TRANSPORT AND TRADING ONE MEMBER CO LTD is Specialized professional services, including:

  • Transportation


Key service include :

  • Transportation

 

 

 

DOMESTIC SALES & PURCHASES

 

 

 

Annual Sales Analysis

Percentage

Domestic Sales

100%

 

 

 

 

BANK DETAILS

 

 

 

Bank Name

:

VIETNAM BANK FOR AGRICULTURE & RURAL DEVELOPMENT

Global Identifier

:

32408794

Branch

:

Tu Liem,Hanoi

Branch Address

:

KIM THANH

SWIFT Code

:

VBAAVNVX

 

Bank Name

:

VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY & TRADE

Global Identifier

:

32404058

Branch

:

Hoan Kiem Dist,Hanoi

Branch Address

:

VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE - HAI DUONG, HAI DUONG

SWIFT Code

:

ICBVVNVX

 

 

 

OFFICE & FACILITIES

 

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

 

Name

:

PHUC HUNG TRANSPORT AND TRADING ONE MEMBER CO LTD - HAI AN DIST, HAIPHONG

Primary Use

:

Office & Administration facilities

Address

:

13/34 Phu Thuong Doan Dong Hai 1 Ward, Hai An Dist, Haiphong

Country

:

Vietnam

Status

:

Operational

 

 

NOTES & COMMENTS

 

Na

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.30

UK Pound

1

Rs.99.16

Euro

1

Rs.78.59         

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

SMN

 

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.