MIRA INFORM REPORT

 

 

Report No. :

352276

Report Date :

07.12.2015

 

IDENTIFICATION DETAILS

 

Name :

MEGA PLAST JSC

 

 

Registered Office :

Nho Industrial Park (Little Industrial Park) Nghia long Commune, Nghia Dan, Nghe An

 

 

Country :

Vietnam

 

 

Date of Incorporation :

31.07.2014

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Subject is manufacturer plastics & products.

 

 

No. of Employee :               

30

 

 

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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. 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.

 

Source : CIA

 

REGISTERED NAME & COMPANY SUMMARY

 

Company Details

Organization Name

:

MEGA PLAST JSC

Name in Local Language

:

CÔNG TY CP PHỤ GIA NHỰA MEGA

Address

:

Nho Industrial Park (Little Industrial Park) Nghia long Commune, Nghia Dan, Nghe An

Country

:

Vietnam

Phone (S)

:

[+84] 38-3902150

Primary Business Activity

:

Manufacturer

Key Industry

:

Plastics & Products

 

Key Facts

Registered Legal Address

:

Nho Industrial Park (Little Industrial Park) Nghia long Commune, Nghia Dan, Nghe An

Operational Address

:

Nho Industrial Park (Little Industrial Park) Nghia long Commune, Nghia Dan, Nghe An

License Status

:

License exists - Normal.

Issuing Authority

:

Dept. of Planning & Investment - Nghe An

License Number

:

2901721721

Legal Form - Category

:

Joint Stock Company

Legal Form

:

Joint Stock Company

Legal Form - Abbreviation

:

JSC

Operational Status of Business

:

Normal

Date of Registration

:

31 Jul, 2014

Employees

:

30

Capital

:

US$ 455,353

 

 

DIRECTORS/MANAGEMENT

 

Key Person

Legal Title

:

Managing Director

Name

:

Mr. Nguyen Trong Dat

Nationality

:

Vietnamese

 

 

COMPANY MANAGEMENT

 

Management Listings

 

 

Name

Nationality

Job Description

Dept. / Division

1

Mr. Nguyen Trong Dat

Vietnamese

Managing Director

-

 

 

Management Details - 1

Personal Unique Identifier

:

MI03929624

Name

:

Mr. Nguyen Trong Dat

Date of Birth

:

1959

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03929624

Name

:

Mr. Nguyen Trong Dat

Date of Birth

:

1959

 

 

 

NEGATIVE INFORMATION

 

REPUTATION

 

Due to the recent incorporation of the MEGA PLAST JSC, and the relatively small nature of its business, no meaningful points of reference in terms of reputation within the respective industry was possible.

 

 

 

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

 

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

 

 

 

SHARE & SHARE CAPITAL INFORMATION

 

CAPITAL (Currency: VND - Vietnam Dong)

Authorized Capital

:

₫ 10,000,000,000

 

SHAREHOLDERS

Total number of shareholders

:

3

Total number of shares

:

n/a

 

Currency

:

VND - Vietnam Dong

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

Mr. Nguyen Chan Chinh

Vietnam

n/a

n/a

96.00

2

Mr. Nguyen Tien Hung

Vietnam

n/a

n/a

2.00

3

Mr. Nguyen Trong Dat

Vietnam

n/a

n/a

2.00

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

80%

International Sales (Export)

20%

 

Annual Purchases Analysis

Percentage

Local Purchases

100%

 

PAYMENT TERMS

Selling

Type

Terms

Local

Cash on delivery (COD)

Credit - Secured with Post-dated checks 30~90 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 30~90 days

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

N/a

 

 

FINANCIAL INFORMATION

 

FINANCIAL STATEMENT - DETAILED

Based on the corporate laws of Vietnam, legal entities which are a Joint Stock Company are not required to make public disclosure of their annual financials. Therefore no financials are available for this entity.

 

 

FOREIGN EXCHANGE RATES

 

Today's Exchange rate

:

1.00 VND
Vietnam Dong

=

0.000046 USD
United States Dollars

 

 

ADDITIONAL INFORMATION

 

Report Details

 

 

Country

:

Vietnam

Business Entity Name

:

MEGA PLAST JSC

Primary Business Activity

:

Manufacturer

Primary Industry

:

Plastics & Products

Office Contact Details

Operating Address

:

Nho Industrial Park (Little Industrial Park) Nghia long Commune, Nghia Dan, Nghe An

Tel

:

[+84] 38-3902150

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

:

2901721721

 

Primary Products

Products / Materials / Services Description

Activity

Plastic products

Manufacturing, Exporting

 

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

 

Product/Service Description

Code

Activity

Plastics products, nspf

3089

Manufacturing, Exporting

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

 

Product/Service Description

Code

Activity

Articles of plastics (inc polymers & resins)

3926

Manufacturing, Exporting

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of MEGA PLAST JSC is Manufacturing - Finished products.

Key product include :

Plastic products


An integral part of the core business includes:

Distribution

 

Supplementary Business

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

Exporting

Exporting - Finished products

 

 

 

INTERNATIONAL TRADE - Activity & Markets

 

 

 

 

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Exporting

Middle-East

Medium

Exporting

 

 

OFFICE & FACILITIES

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

Name

:

MEGA PLAST JSC - NGHIA DAN, NGHE AN

Primary Use

:

Office & Administration facilities

Address

:

Nho Industrial Park (Little Industrial Park) Nghia long Commune, Nghia Dan, Nghe An

Country

:

Vietnam

Status

:

Operational

 

 

 

 

NOTES & COMMENTS

 

N/a

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.84

UK Pound

1

Rs.101.04

Euro

1

Rs.73.05

VND

1

Rs. 0.0030

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

HEE

 

 

Report Prepared by :

ASH

 

 

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.