MIRA INFORM REPORT
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Report No. : |
337077 |
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Report Date : |
28.08.2015 |
IDENTIFICATION DETAILS
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Name : |
AAC TECHNOLOGIES VIETNAM CO LTD (1) |
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Registered Office : |
Lot K4-2F Que Vo Industrial Park Van Duong Commune, Bac Ninh, Bac Ninh |
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Country : |
Vietnam |
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Date of Incorporation : |
20.09.2013 |
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Legal Form : |
Private Company With Limited Liability |
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Line of Business : |
Manufacturer of Electrical Equipment & Appliances. |
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No. of Employees : |
3,900 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Vietnam |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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. Agriculture's share of economic output has shrunk from about 25% in 2000 to 18% in 2014, while industry's share increased from 36% to 38% in the same period. State-owned enterprises now account for only about 40% of GDP.
Vietnamese authorities have reaffirmed their commitment to economic modernization and a more open economy. Vietnam joined the World Trade Organization in January 2007, which has promoted more competitive, export-driven industries. Vietnam joined the 12-nation Trans-Pacific Partnership free trade agreement negotiations in 2010.
Hanoi has oscillated between promoting growth and emphasizing macroeconomic stability in recent years. Between 2008 and 2011, Vietnam's managed currency, the dong, was devalued in excess of 20%, but its value has remained relatively stable since then. 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.
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 to restructure public investment, state-owned enterprises, and the banking sector, Hanoi’s progress in meeting its goals is lagging behind its proposed schedule. Vietnam's economy continues to face challenges from an undercapitalized banking sector and non-performing loans weigh heavily on banks and businesses.
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Source
: CIA |
REGISTERED
NAME & COMPANY SUMMARY
Company Details
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Organization Name |
: |
AAC TECHNOLOGIES VIETNAM CO LTD (1) |
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Address |
: |
Lot K4-2F Que Vo Industrial Park Van Duong Commune, Bac Ninh, Bac Ninh |
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Country |
: |
Vietnam |
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Phone (S) |
: |
[+84] 241-3634040 |
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Primary Business Activity |
: |
Manufacturer |
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Key Industry |
: |
Electrical Equipment & Appliances |
Key Facts
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Registered Legal Address |
: |
Lot K4-2F Que Vo Industrial Park Van Duong Commune, Bac Ninh, Bac Ninh |
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Operational Address |
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Lot K4-2F Que Vo Industrial Park Van Duong Commune, Bac Ninh, Bac Ninh |
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Issuing Authority |
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BAC NINH INDUSTRIAL ZONE AUTHORITY - Bac Ninh |
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License Number |
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212043.000566 |
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License Status |
: |
License exists - Normal. |
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Legal Form - Category |
: |
Private Company with Limited Liability |
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Legal Form |
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Company Limited |
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Legal Form - Abbreviation |
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CO LTD |
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Operational Status of Business |
: |
Normal |
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Date of Registration |
: |
20 Sep, 2013 |
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Employees |
: |
3,900 |
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Capital |
: |
US$ 6,500,000 |
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Note |
: |
1) Legal status of the English corporate name |
DIRECTORS/MANAGEMENT
Key Person
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Legal Title |
: |
Managing Director |
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Name |
: |
Mr. Yew-Siow Tay |
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Nationality |
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Singaporean |
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COMPANY MANAGEMENT |
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Management Listings |
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COMPANY DIRECTORS |
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NEGATIVE
INFORMATION
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REPUTATION |
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Due to the recent incorporation of the AAC TECHNOLOGIES VIETNAM CO
LTD, and the relatively small nature of its business, no meaningful points of
reference in terms of reputation within the respective industry was possible.
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NEGA-SCAN - ADVERSE DATA MONITORING |
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SHARE
& SHARE CAPITAL INFORMATION
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CAPITAL (Currency: USD - US Dollar) |
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SHAREHOLDERS |
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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
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PAYMENT TERMS |
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Selling |
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Purchasing |
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GROUP
STRUCTURE & AFFILIATED COMPANIES
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DIRECT / INDIRECT CORPORATE PARENT DETAILS |
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FINANCIAL
INFORMATION
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FINANCIAL STATEMENT - DETAILED |
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Based on the corporate laws of Vietnam, legal entities which are a
Private Company with Limited Liability are not required to make public
disclosure of their annual financials. Therefore no financials are available
for this entity. |
FOREIGN
EXCHANGE RATES
N/A
ADDITIONAL
INFORMATION
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Report Details |
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Primary Products
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Products / Materials / Services Description |
Activity |
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Earphones |
Manufacturing, Exporting |
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Microphones |
Manufacturing, Exporting |
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Receivers |
Manufacturing, Exporting |
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Sound equipment |
Manufacturing, Exporting |
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Speaker module |
Manufacturing, Exporting |
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SIC PRODUCT CLASSIFICATION & ACTIVITY |
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HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY |
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DETAILED PRODUCT CLASSIFICATION & ACTIVITY |
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CORE BUSINESS DESCRIPTION |
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Core Business |
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The primary business focus of AAC TECHNOLOGIES VIETNAM CO LTD is
Manufacturing - Finished products. Earphones Microphones Receivers Sound equipment Speakers
Distribution |
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Supplementary Business |
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In addition to the core business, AAC TECHNOLOGIES VIETNAM CO LTD also
is engaged in the following areas of business: Exporting Exporting - Finished products Importing Importing - Raw materials |
BANK
DETAILS
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INTERNATIONAL TRADE - Activity & Markets |
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OFFICE & FACILITIES |
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The following information relates to the Business Entity's office as
listed above: |
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NOTES
& COMMENTS
N/A
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.06 |
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1 |
Rs.102.35 |
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Euro |
1 |
Rs.74.97 |
INFORMATION DETAILS
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Analysis Done by
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TRI |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.