MIRA INFORM REPORT

 

 

Report No. :

307195

Report Date :

10.02.2015

 

IDENTIFICATION DETAILS

 

Name :

UCC TRADING CO LTD

 

 

Registered Office :

10/3 Phan Dinh Giot St Ward 2, Tan Binh Dist, Ho Chi Minh

 

 

Country :

Vietnam

 

 

Financials (as on) :

December 2013

 

 

Date of Incorporation :

23.10.2013

 

 

Legal Form :

Private Company with Limited Liability

 

 

Line of Business :

Engaged in import and distribution of chemical products, dyes, pigments for the production and trade in textile and garment industry, paper industry, plastics, paint and ink

 

 

No of Employees :

25

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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. 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

 

Organization Name

:

UCC TRADING CO LTD

Address

:

10/3 Phan Dinh Giot St Ward 2, Tan Binh Dist, Ho Chi Minh

Country

:

Vietnam

Phone (S)

:

[+84] 8-38477655

Facsimile

:

[+84] 8-39975666

Email

:

ucc@hcm.vnn.vn

Website

:

http://www.unichemcolor.com

Primary Business Activity

:

Engaged in import and distribution of chemical products, dyes, pigments for the production and trade in textile and garment industry, paper industry, plastics, paint and ink

 

Registered Legal Address

:

10/3 Phan Dinh Giot St Ward 2, Tan Binh Dist, Ho Chi Minh

Operational Address

:

10/3 Phan Dinh Giot St Ward 2, Tan Binh Dist, Ho Chi Minh

Issuing Authority

:

Dept. of Planning & Investment - Ho Chi Minh

License Number

:

0302644794

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

:

23 Oct, 2013

Employees

:

25

Capital

:

US$ 187,803

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.

 

DIRECTORS/MANAGEMENT

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Ms. Le Xuan Hanh

Vietnamese

Vice Director

-

2

Ms. Pham Thi Minh Hien

Vietnamese

Chief Accountant

-

Management Details - 1

Personal Unique Identifier

:

MI03540162

Name

:

Ms. Le Xuan Hanh

 

Date of Birth

:

1962

Identification Number(s)

      National ID No

:

020456341

 

Management Details - 2

Personal Unique Identifier

:

MI03540166

Name

:

Ms. Pham Thi Minh Hien

 

Date of Birth

:

1958

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03540162

Name

:

Ms. Le Xuan Hanh

Date of Birth

:

1962

Identification Number(s)

National ID No

:

020456341

 

NEGATIVE INFORMATION

 

REPUTATION

Reference checking for the purpose of establishing UCC TRADING 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

:

₫ 4,000,000,000

 

Date

Authorized Capital - History

24 Jun, 2002

3,000,000,000

23 Oct, 2013

4,000,000,000

 

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. Tran Duc Qui

Vietnam

n/a

n/a

50.00

2

Ms. Le Xuan Hanh

Vietnam

n/a

n/a

45.00

3

Ms. Le Thi Ngoc Anh

Vietnam

n/a

n/a

5.00

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

100%

 

Annual Purchases Analysis

Percentage

Local Purchases

10%

Imports

90%

 

PAYMENT TERMS

Selling

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~60 days

 

Purchasing

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~60 days

Import

Letter of Credit (At-sight)

Telegraphic Transfer (T/T) - Executed at time of transaction

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

Year

Sales

Assets

Net Income

2011 Annual  

2,878,012

732,213

35,766

2012 Annual  

3,622,244

919,679

70,685

2013 Annual (*)

3,679,186

1,659,278

65,487

 

 

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

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

Note: (*)

Financials listed are the most recent available for this company.

 

FINANCIALS - SUMMARY (Currency: USD - US Dollar)

Year

Sales

Assets

Net Income

2010 Annual

2,786,916

769,369

35,557

FINANCIAL STATEMENT - DETAILED

Balance Sheet

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2011 Annual

2012 Annual

2013 Annual

Current Assets(*)

13,216,000,000

17,453,000,000

33,639,000,000

Non Current Assets(*)

2,036,000,000

1,699,000,000

1,352,000,000

Non Current Liabilities(*)

20,000,000

0

0

Share Capital(*)

3,000,000,000

3,000,000,000

4,000,000,000

Other long term assets 

Total Assets(*)

15,252,000,000

19,152,000,000

34,991,000,000

Total Liabilities(*)

8,936,000,000

11,952,000,000

26,245,000,000

Current Liabilities(*)

8,916,000,000

11,952,000,000

26,245,000,000

Long term liabilities 

Shareholders Funds(*)

6,316,000,000

7,200,000,000

8,746,000,000

 

Current assets & short term investments

13,216,000,000

17,453,000,000

33,639,000,000

Cash & cash equivalents

489,000,000

1,226,000,000

2,298,000,000

Cash

489,000,000

1,226,000,000

2,298,000,000

Accounts receivable

6,055,000,000

6,866,000,000

17,538,000,000

Accounts receivable trade

5,355,000,000

6,574,000,000

17,533,000,000

Trade prepayment

690,000,000

285,000,000

-

Others receivables

10,000,000

7,000,000

5,000,000

i. Inventories

6,359,000,000

9,319,000,000

13,788,000,000

ii. Inventories

6,359,000,000

9,319,000,000

13,788,000,000

i. Other short term asset

313,000,000

42,000,000

15,000,000

VAT deductible

298,000,000

27,000,000

-

ii. Other short term asset

2,036,000,000

1,699,000,000

15,000,000

Long term assets

2,036,000,000

1,699,000,000

1,352,000,000

Fixed assets

1,749,000,000

1,392,000,000

1,120,000,000

Tangible fixed assets

1,749,000,000

1,392,000,000

1,120,000,000

i. Cost

2,922,000,000

2,961,000,000

2,920,000,000

i. Accumulated depreciation

1,173,000,000

1,569,000,000

1,800,000,000

ii. Cost

22,000,000

22,000,000

22,000,000

ii. Accumulated depreciation

22,000,000

22,000,000

22,000,000

Other long term assets

287,000,000

307,000,000

232,000,000

Long term prepayments

287,000,000

307,000,000

232,000,000

Total assets

15,252,000,000

19,152,000,000

34,991,000,000

Liabilities

8,936,000,000

11,952,000,000

26,245,000,000

Current liabilities

8,916,000,000

11,952,000,000

26,245,000,000

Short term borrowings

1,896,000,000

6,611,000,000

2,906,000,000

Accounts payables-trade

4,850,000,000

5,267,000,000

3,260,000,000

Advances from customers

9,000,000

11,000,000

2,000,000

Taxes and payable to state budget

253,000,000

61,000,000

545,000,000

Accrued expenses payable

-

-

240,000,000

Inter company payable

6,000,000

2,000,000

2,000,000

Other payables

1,902,000,000

-

-

Long term liabilities

20,000,000

-

-

Provision funds for unemployment

20,000,000

-

-

Provision for short term payable

-

-

19,290,000,000

i. Owner's equity

6,316,000,000

7,200,000,000

8,746,000,000

ii. Owner's equity

-

-

8,746,000,000

Business capital

3,000,000,000

3,000,000,000

4,000,000,000

Foreign exchange differences

(4,000,000)

-

-

Retained earnings

3,320,000,000

4,200,000,000

4,746,000,000

Total resources

15,252,000,000

19,152,000,000

34,991,000,000

Note: (*)

Financial Highlights

 

Income Statement

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2011 Annual

2012 Annual

2013 Annual

Turnover(*)

59,949,000,000

75,432,000,000

77,587,000,000

Profit (Loss) Before Tax(*)

903,000,000

1,784,000,000

1,842,000,000

Profit After Tax attributable to Shareholders(*)

745,000,000

1,472,000,000

1,381,000,000

 

Gross sales

59,949,000,000

75,432,000,000

77,587,000,000

Less deductions

-

123,000,000

149,000,000

Net income

59,949,000,000

75,309,000,000

77,438,000,000

Cost of goods sold

47,757,000,000

63,899,000,000

66,111,000,000

Gross margin

12,192,000,000

11,410,000,000

11,327,000,000

Income from financial activities

174,000,000

191,000,000

8,000,000

Expenses from financial activities

1,377,000,000

414,000,000

627,000,000

In which: Interest expenses

1,377,000,000

229,000,000

337,000,000

Selling expenses

4,499,000,000

2,900,000,000

2,736,000,000

General & administration expenses

6,285,000,000

6,523,000,000

6,130,000,000

Net income from operating activities

205,000,000

1,764,000,000

1,842,000,000

Extraordinary income

698,000,000

20,000,000

-

Extraordinary gains

698,000,000

20,000,000

-

Net profit before tax

903,000,000

1,784,000,000

1,842,000,000

Income tax

158,000,000

312,000,000

461,000,000

Net profit after tax

745,000,000

1,472,000,000

1,381,000,000

Note: (*)

Financial Highlights

 

Financial Ratios

Financial Highlights

2011 Annual

2012 Annual

2013 Annual

Growth % 

Year-on-Year Growth

10.37

25.83

2.86

Profitability 

Profit Margin (%)

1.24

1.95

1.78

Return on Equity (%)

11.80

20.44

15.79

Return on Assets (%)

4.88

7.69

3.95

Leverage 

Total Debt Equity (Times)

1.41

1.66

3.00

Current Debt Equity (Times)

1.41

1.66

3.00

Long Term Debt to Equity

0.00

-

-

Total Asset To Total Equity

2.41

2.66

4.00

Asset Management 

Total Assets Turnover (Times)

3.93

3.94

2.22

Fixed Assets Turnover (Times)

29.44

44.40

57.39

Liquidity 

Current Ratio

1.48

1.46

1.28

 

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

=

0.000047 USD
United States Dollars

 

ADDITIONAL INFORMATION

 

Country

:

Vietnam

Business Entity Name

:

UCC TRADING CO LTD

Primary Business Activity

:

Importer

Primary Industry

:

Chemicals

 

Office Contact Details

Operating Address

:

10/3 Phan Dinh Giot St Ward 2, Tan Binh Dist, Ho Chi Minh

Tel

:

[+84] 8-38477655

 

:

[+84] 8-38477649

Fax

:

[+84] 8-39975666

Email

:

ucc@hcm.vnn.vn

 

Website Details

Website

:

http://www.unichemcolor.com

Status

:

Normal - operational

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

:

0302644794

 

 

Primary Products

Products / Materials / Services Description

Activity

Chemicals

Importing, Trading

Dye colors

Importing, Trading

Printing materials

Importing, Trading

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Chemical products and preparations of the chemical or allied industries

3823909050

Importing, Trading

Miscellaneous chemical products

3800

Importing, Trading

Printing type, blocks, plates, cylinders and other printing components

8442508000

Importing, Trading

Reactive dyes & preparations based thereon

3204160000

Importing, Trading

 

Main Activity

Engaged in import and distribution of chemical products, dyes, pigments for the production and trade in textile and garment industry, paper industry, plastics, paint and ink

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of UCC TRADING CO LTD is Importing - Finished products.

Key products include :

Chemicals

Dye colors

Printing materials

Supplementary Business

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

Trading

Trading - Finished products

 

BANK DETAILS

Bank Name

:

JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM

Global Identifier

:

P1072025

Branch

:

Hanoi

Branch Address

:

JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM - TAN BINH

SWIFT Code

:

BFTVVNVX

 

Bank Name

:

SAI GON THUONG TIN COMMERCIAL JOINT STOCK BANK

Global Identifier

:

P0388625

Branch

:

District 3,Ho Chi Minh

Branch Address

:

SAI GON THUONG TIN COMMERCIAL JOINT STOCK BANK, TAN DINH

SWIFT Code

:

SGTTVNVX

 

INTERNATIONAL TRADE - Activity & Markets

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing

Europe

Medium

Importing

North America

Medium

Importing

Italy

Medium

Importing

USA

Medium

Importing

 

OFFICE & FACILITIES

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

Name

:

UCC TRADING CO LTD - TAN BINH DIST, HO CHI MINH

Primary Use

:

Office & Administration facilities

Building Size

:

300 Square meters

Address

:

10/3 Phan Dinh Giot St Ward 2, Tan Binh Dist, Ho Chi Minh

Country

:

Vietnam

Ownership of Property

:

Rented / Leased

Status

:

Operational

 

WAREHOUSING FACILITIES

Name

:

UCC TRADING CO LTD - DISTRICT 12, HO CHI MINH

Address

:

2828/2A1 An Phu Dong St An Phu Dong Ward, District 12, Ho Chi Minh

Country

:

Vietnam

Status

:

Operational

 

PREVIOUS CONTACT DETAILS

Company Address

:

127B-A1 Dinh Tien Hoang St Ward 3, Binh Thanh, Ho Chi Minh

Date of Relocation

:

1 Oct, 2013

 

PREVIOUS BUSINESS LICENSE/S

License Date

License No.

24 Jun, 2002

4102010445

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.14

UK Pound

1

Rs.94.79

Euro

1

Rs.70.38

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

MNL

 

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.