MIRA INFORM REPORT

 

 

Report No. :

354791

Report Date :

22.12.2015

 

IDENTIFICATION DETAILS

 

Name :

VINACOMPOUND CO LTD (1)

 

 

Registered Office :

34B Alley 6/12/5 Doi Nhan St Vinh Phuc Ward, Ba Dinh, Hanoi

 

 

Country :

Vietnam

 

 

Financials (as on) :

2013

 

 

Date of Incorporation :

02.02.2010

 

 

Legal Form :

Private Company With Limited Liability

 

 

Line of Business :

Manufacturer of Chemicals

 

 

No. of Employees :

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 :

Slow but correct

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

:

VINACOMPOUND CO LTD (1)

Name in Local Language

:

CÔNG TY TNHH VINACOMPOUND

Address

:

34B Alley 6/12/5 Doi Nhan St Vinh Phuc Ward, Ba Dinh, Hanoi

Country

:

Vietnam

Phone (S)

:

[+84] 4-35842408

Facsimile

:

[+84] 4-35842407

Email

:

tdquyen@vinacompound.com.vn

Website

:

http://www.vinacompound.com.vn/

Primary Business Activity

:

Manufacturer

Key Industry

:

Chemicals

 

Key Facts

Registered Legal Address

:

34B Alley 6/12/5 Doi Nhan St Vinh Phuc Ward, Ba Dinh, Hanoi

Operational Address

:

34B Alley 6/12/5 Doi Nhan St Vinh Phuc Ward, Ba Dinh, Hanoi

License Status

:

License exists - Normal.

Issuing Authority

:

DEPARTMENT OF PLANNING & INVESTMENT - Hanoi

License Number

:

0102625829

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

:

2 Feb, 2010

Employees

:

30

Capital

:

US$ 450,799

PREVIOUS BUSINESS LICENSE/S

:

License Date

License No.

23 Jan, 2008

0102033490

Note

:

(1)
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.

 

 

 

DIRECTORS/MANAGEMENT

 

Key Person

Legal Title

:

Managing Director

Name

:

Mr. Tai Anh Nguyen

Nationality

:

Vietnamese

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Mr. Tai Anh Nguyen

Vietnamese

Managing Director

-

2

Mr. Quyen Duc Tran

Vietnamese

Deputy Managing Director

-

3

Mr. Hoang Khanh Viet

Vietnamese

Chief Accountant

-

 

Management Details - 1

Personal Unique Identifier

:

MI03078092

Name

:

Mr. Tai Anh Nguyen

Date of Birth

:

1971

Country

University / College name

Qualification

Major

Vietnam

n/a

Master's Degree

n/a

 

Management Details - 2

Personal Unique Identifier

:

MI03078095

Name

:

Mr. Quyen Duc Tran

Email

:

tdquyen@vinacompound.com.vn

Date of Birth

:

1975

Country

University / College name

Qualification

Major

Vietnam

n/a

Master's Degree

n/a

 

Management Details - 3

Personal Unique Identifier

:

MI03078099

Name

:

Mr. Hoang Khanh Viet

Date of Birth

:

1978

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03078092

Name

:

Mr. Tai Anh Nguyen

Date of Birth

:

1971

Country

University / College name

Qualification

Major

Vietnam

n/a

Master's Degree

n/a

 

 

NEGATIVE INFORMATION

 

REPUTATION

Reference checking for the purpose of establishing VINACOMPOUND CO LTD'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

 

 

CIVIL 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

:

₫ 9,900,000,000

 

SHAREHOLDERS

Total number of shareholders

:

2

Total number of shares

:

n/a

 

Currency

:

VND - Vietnam Dong

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

Mr. Tai Anh Nguyen

Vietnam

n/a

n/a

75.00

2

Mr. Quyen Duc Tran

Vietnam

n/a

n/a

25.00

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

90%

International Sales (Export)

10%

 

Annual Purchases Analysis

Percentage

Local Purchases

100%

 

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

 

INTERNATIONAL TRADE - Activity & Markets

 

Country / Region

Estimated level of importance

Trading Activity

Africa

Medium

Exporting

Asia / Pacific

Medium

Exporting

Europe

Medium

Exporting

Middle-East

Medium

Exporting

Italy

Medium

Exporting

Malaysia

Medium

Exporting

Morocco

Medium

Exporting

Saudi Arabia

Medium

Exporting

Taiwan

Medium

Exporting

Thailand

Medium

Exporting

 

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

N/a

 

 

FINANCIAL INFORMATION

 

Financials – Summary  (Currency: USD - US Dollar)

Year

Turnover

Assets

Net Income

2013 Annual (*)

19,807,816

9,443,909

237

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

2013 Annual

Current Assets(*)

183,802,000,000

Non Current Assets(*)

15,352,000,000

Non Current Liabilities(*)

142,152,000,000

Share Capital(*)

9,900,000,000

Other long term assets 

Total Assets(*)

199,154,000,000

Total Liabilities(*)

189,502,000,000

Current Liabilities(*)

47,350,000,000

Long term liabilities 

Shareholders Funds(*)

9,652,000,000

 

Current assets & short term investments

183,802,000,000

Cash & cash equivalents

29,492,000,000

Cash

29,492,000,000

Accounts receivable

46,400,000,000

Accounts receivable trade

42,256,000,000

Trade prepayment

4,121,000,000

Others receivables

23,000,000

Inventories

100,137,000,000

Other short term asset

7,773,000,000

VAT deductible

7,687,000,000

Other tax receivables

86,000,000

Long term assets

15,352,000,000

Fixed assets

15,352,000,000

Tangible fixed assets

15,341,000,000

i. Cost

25,846,000,000

i. Accumulated depreciation

10,505,000,000

Intangible fixed assets

11,000,000

ii. Cost

32,000,000

ii. Accumulated depreciation

21,000,000

Total assets

199,154,000,000

Liabilities

189,502,000,000

Current liabilities

47,350,000,000

Accounts payables-trade

37,962,000,000

Advances from customers

9,365,000,000

Other payables

23,000,000

Long term liabilities

142,152,000,000

Long term other payables

202,000,000

Long term borrowings

141,950,000,000

Owner's equity

9,652,000,000

Business capital

9,900,000,000

Retained earnings

(248,000,000)

Total Resources

199,154,000,000

Note: (*)

Financial Highlights

 

Income Statement

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2013 Annual

Turnover(*)

417,709,000,000

Profit (Loss) Before Tax(*)

5,000,000

Profit After Tax attributable to Shareholders(*)

5,000,000

 

Gross sales

417,709,000,000

Net income

417,709,000,000

Cost of goods sold

406,311,000,000

Gross margin

11,398,000,000

Income from financial activities

93,000,000

Expenses from financial activities

428,000,000

Selling expenses

5,885,000,000

General & administration expenses

5,111,000,000

Net income from operating activities

67,000,000

Extraordinary income

1,000,000

Extraordinary expenses

63,000,000

Extraordinary gains

(62,000,000)

Net profit before tax

5,000,000

Net profit after tax

5,000,000

Note: (*)

Financial Highlights

 

Financial Ratios

Financial Highlights

2013 Annual

Profitability 

Profit Margin (%)

0.00

Return on Equity (%)

0.05

Return on Assets (%)

0.00

Leverage 

Total Debt Equity (Times)

19.63

Current Debt Equity (Times)

4.91

Long Term Debt to Equity

14.73

Total Asset To Total Equity

20.63

Asset Management 

Total Assets Turnover (Times)

2.10

Fixed Assets Turnover (Times)

27.21

Liquidity 

Current Ratio

3.88

 

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. Although basic financials were obtained for reference.

 

 

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

:

VINACOMPOUND CO LTD

Primary Business Activity

:

Manufacturer

Primary Industry

:

Chemicals

Office Contact Details

Operating Address

:

34B Alley 6/12/5 Doi Nhan St Vinh Phuc Ward, Ba Dinh, Hanoi

Tel

:

[+84] 4-35842408

Fax

:

[+84] 4-35842407

Email

:

tdquyen@vinacompound.com.vn

Factory Contact Details

Address

:

Noi Bai International Airport Trai Ca Thang Loi Hamlet Minh Phu Commune, Soc Son, Hanoi

Website Details

Website

:

http://www.vinacompound.com.vn/

Status

:

Normal - operational

Country of Registration

:

Vietnam

Ownership Type

:

Registered ownership by Subject Business Entity

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

:

0102625829

 

Primary Products

Products / Materials / Services Description

Activity

PVC compounds

Manufacturing, Exporting

Plastic resins

Manufacturing, Exporting

Resin

Manufacturing, Exporting

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Chemicals and Allied Products

2800

Manufacturing, Exporting

Chemicals/Allied Prdts, NEC

5169

Manufacturing, Exporting

Plastics materials and resins

2821

Manufacturing, Exporting

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Articles of plastics (inc polymers & resins)

3926

Manufacturing, Exporting

Lac, gums, resins, etc.

1300

Manufacturing, Exporting

Miscellaneous chemical products

3800

Manufacturing, Exporting

Polymers of vinyl chloride etc., in primary forms

3904

Manufacturing, Exporting

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of VINACOMPOUND CO LTD is Manufacturing - Finished products.

Key products include :

Plastic resins

PVC compounds

Resin


An integral part of the core business includes:

Distribution

Supplementary Business

In addition to the core business, VINACOMPOUND CO LTD also is engaged in the following areas of business:

Exporting

Exporting - Finished products

 

BANK DETAILS

Bank Name

:

VIETNAM TECHNOLOGICAL & COMMERCIAL JOINT STOCK BANK

Global Identifier

:

32408999

Branch

:

Hoan Kiem Dist,Hanoi

Branch Address

:

VIETNAMTECHNOLOGICAL

SWIFT Code

:

VTCBVNVX

 

OFFICE & FACILITIES

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

Name

:

VINACOMPOUND CO LTD - BA DINH, HANOI

Primary Use

:

Office & Administration facilities

Address

:

34B Alley 6/12/5 Doi Nhan St Vinh Phuc Ward, Ba Dinh, Hanoi

Country

:

Vietnam

Status

:

Operational

 

 

FACTORIES, SIZE, & LOCATIONS

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

Address

:

Noi Bai International Airport Trai Ca Thang Loi Hamlet Minh Phu Commune, Soc Son, Hanoi

 

 

 

NOTES & COMMENTS

 

N/A

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.32

UK Pound

1

Rs.98.98

Euro

1

Rs.72.13

VND

1

Rs.0.0029

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

HEE

 

 

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.