MIRA INFORM REPORT

 

 

Report Date :

01.01.2015

 

IDENTIFICATION DETAILS

 

Name :

SEAH STEEL VINA CORP

 

 

Registered Office :

Bien Hoa 2 Industrial Zone 7 Rd 3A, Bien Hoa, Dong Nai

 

 

Country :

Vietnam

 

 

Date of Incorporation :

30.06.2008

 

 

Legal Form :

Private Company with Limited Liability

 

 

Line of Business :

Manufacturer of Metals & Metal Products

 

 

No. of Employee :

300

 

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 :

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

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

 

Company Details

Organization Name

:

SEAH STEEL VINA CORP

Address

:

Bien Hoa 2 Industrial Zone 7 Rd 3A, Bien Hoa, Dong Nai

Country

:

Vietnam

Phone (S)

:

[+84] 61-3833733

Facsimile

:

[+84] 61-3833734

Email

:

seahsales@hcm.vnn.vn

Primary Business Activity

:

Manufacturer

Key Industry

:

Metals & Metal Products

 

Key Facts

 

Registered Legal Address

:

Bien Hoa 2 Industrial Zone 7 Rd 3A, Bien Hoa, Dong Nai

Operational Address

:

Bien Hoa 2 Industrial Zone 7 Rd 3A, Bien Hoa, Dong Nai

Name History

:

Business Entity Name

Effective Date

SAIGON STEEL PIPE JOINT VENTURE CO

8 Aug, 1995

SEAH STEEL VINA CORP

16 Oct, 2006

Issuing Authority

:

Industrial Zone Management Board - Dong Nai

License Number

:

472043000558

License Status

:

License exists - Normal.

Legal Form - Category

:

Private Company with Limited Liability

Legal Form

:

Corporation

Legal Form - Abbreviation

:

CORP

Operational Status of Business

:

Normal

Date of Registration

:

30 Jun, 2008

Employees

:

300

Capital

:

US$ 14,447,450

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

:

SEAH STEEL VINA CORP

Primary Business Activity

:

Manufacturer

Primary Industry

:

Metals & Metal Products

Office Contact Details

Operating Address

:

Bien Hoa 2 Industrial Zone 7 Rd 3A, Bien Hoa, Dong Nai

Tel

:

[+84] 61-3833733

 

:

[+84] 61-3836997

Fax

:

[+84] 61-3833734

Email

:

seahsales@hcm.vnn.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

:

3600238602

 

 

 

DIRECTORS/MANAGEMENT

 

 

COMPANY MANAGEMENT

 

 

 

Management Listings

 

 

Name

Nationality

Job Description

Dept. / Division

1

Mr. Ryu Chung

Korean

Vice Director

-

2

Mr. Le Vu Luu

Vietnamese

Chief Accountant

-

 

 

Management Details - 1

Personal Unique Identifier

:

MI03809657

Name

:

Mr. Ryu Chung

 

 

 

Management Details - 2

Personal Unique Identifier

:

MI03809658

Name

:

Mr. Le Vu Luu

 

Date of Birth

:

1960

 

 

COMPANY DIRECTORS

 

1

 

 

Personal Unique Identifier

:

MI02518269

Name

:

Mr. Hyung-Kun Nam

Date of Birth

:

1959

 

 

NEGATIVE INFORMATION

 

 

REPUTATION

 

Reference checking for the purpose of establishing SEAH STEEL VINA CORP'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: USD - US Dollar)

 

Authorized Capital

:

$ 14,447,450

 

 

SHAREHOLDERS

 

Total number of shareholders

:

1

Total number of shares

:

n/a

 

Currency

:

VND - Vietnam Dong

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

SEAH STEEL CORP

Korea, South (Republic of Korea)

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

 

 

PAYMENT TERMS

 

Selling

 

Type

Terms

Local

Cash on delivery (COD)

Credit - Secured with Post-dated checks 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 - Secured with Post-dated checks 30~60 days

Import

Letter of Credit (At-sight)

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

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

 

DIRECT / INDIRECT CORPORATE PARENT DETAILS

 

Direct Parent

:

SEAH STEEL CORP

Global Identifier

:

31326055

Legal Form Category

:

Public Listed Company

Country

:

Korea, South (Republic of Korea)

Operational Address

:

45 Yanghwa-ro Mapo-gu Seoul 121841

Primary Business Activity

:

Manufacturer

 

 

RELATED PARTIES (Subsidiaries , Joint-ventures & Affiliates)

 

 

 

The following provides a summary of the number of businesses that are related to SEAH STEEL VINA CORP:

 

 

TYPE

INTERNATIONAL

Africa

Asia / Pacific

Europe

Middle-East

North America

South America

TOTAL

Subsidiaries

-

-

-

-

-

-

-

Joint-Ventures

-

-

-

-

-

-

-

Minority shareholdings

-

-

-

-

-

-

-

Affiliates

-

1

-

-

-

-

1

Liaison / Representative Offices

-

-

-

-

-

-

-

 

 

International

 

 

 

Business Entity Name

:

SEAH METAL CO LTD

Global Identifier

:

P0394083

Country

:

Korea, South (Republic of Korea)

Relationship

:

Affiliate

Operational Address

:

24Fl Seah Tower 45 Yanghwa-ro, Mapo-gu, Seoul 121210

Primary Business Activity

:

Manufacturer

Industry

:

Metals & Metal Products

 

 

 

FINANCIAL INFORMATION

 

 

FINANCIAL STATEMENT - DETAILED

 

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. Therefore no financials are available for this entity.

 

 

FOREIGN EXCHANGE RATES

 

Today's Exchange rate

:

1.00 VND
Vietnam Dong

=

0.000047 USD
United States Dollars

 

 

ADDITIONAL INFORMATION

 

Primary Products

Products / Materials / Services Description

Activity

Steel pipes

Manufacturing, Exporting

Steel tubes

Manufacturing, Exporting

 

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Product/Service Description

Code

Activity

Steel Foundries, NEC

3325

Manufacturing, Exporting

Steel Pipe & Tubes

3317

Manufacturing, Exporting

 

 

 

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Product/Service Description

Code

Activity

Miscellaneous articles of base metal

8300

Manufacturing, Exporting

Tubes, pipes etc, seamless, iron nesoi & steel

7304

Manufacturing, Exporting

 

 

 

 

CORE BUSINESS DESCRIPTION

 

 

 

Core Business

 

The primary business focus of SEAH STEEL VINA CORP is Manufacturing - Finished products.

Key products include :

Steel pipes

Steel tubes

An integral part of the core business includes:

Distribution

 

 

 

Supplementary Business

 

In addition to the core business, SEAH STEEL VINA CORP also is engaged in the following areas of business:

Exporting

Exporting - Finished products

Importing

Importing - Finished products

 

 

 

DOMESTIC SALES & PURCHASES

 

 

 

Annual Sales Analysis

Percentage

Domestic Sales

60%

International Sales (Export)

40%

 

 

 

 

Annual Purchases Analysis

Percentage

Local Purchases

10%

Imports

90%

 

 

 

 

BANK DETAILS

 

 

 

Bank Name

:

COMMONWEALTH BANK OF AUSTRALIA - HO CHI MINH CITY BRANCH

Global Identifier

:

P0078024

Branch

:

District 1,Ho Chi Minh

Branch Address

:

Ground Floor & 3Fl Han Nam Bldg 65 Nguyen Du St Ben Nghe Ward District 1 Ho Chi Minh (Head Office)

SWIFT Code

:

CTBAVNVX

 

Bank Name

:

INDUSTRIAL BANK OF KOREA

Global Identifier

:

P0079100

Branch

:

District 1,Ho Chi Minh

Branch Address

:

Rm 604, 6Fl Ben Nghe Ward Diamond Plaza Bldg 34 Le Duan Blvd District 1 Ho Chi Minh (Head Office)

SWIFT Code

:

IBKOVNV1

 

Bank Name

:

SHINHAN BANK

Global Identifier

:

32406827

Branch

:

District 1,Ho Chi Minh

Branch Address

:

7Fl YOCO Office Bldg 41 Nguyen Thi Minh Khai St District 1 Ho Chi Minh (Head Office)

SWIFT Code

:

SHBKVNVX

 

 

 

INTERNATIONAL TRADE - Activity & Markets

 

 

 

 

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

High

Importing, Exporting

Europe

High

Importing

North America

Medium

Exporting

Australia

Medium

Exporting

Cambodia

Medium

Exporting

Germany

Medium

Importing

Hong Kong

Medium

Exporting

India

Medium

Importing

Japan

Medium

Importing, Exporting

Korea, South (Republic of Korea)

Medium

Importing

New Zealand

Medium

Exporting

Russia

Medium

Importing

Singapore

Medium

Importing, Exporting

Taiwan

Medium

Exporting

USA

Medium

Exporting

 

 

 

 

OFFICE & FACILITIES

 

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

 

Name

:

SEAH STEEL VINA CORP - BIEN HOA, DONG NAI

Primary Use

:

Office & Administration facilities

Type of Location

:

Industrial Area

Address

:

Bien Hoa 2 Industrial Zone 7 Rd 3A, Bien Hoa, Dong Nai

Country

:

Vietnam

Status

:

Operational

 

 

 

 

PREVIOUS BUSINESS LICENSE/S

 

 

 

License Date

License No.

8 Aug, 1995

1342/GP

16 Oct, 2006

1342/GP-DC-KCN-DN

 

 

NOTES & COMMENTS

 

Na

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.33

UK Pound

1

Rs.98.58

Euro

1

Rs.77.00

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

SDA

 

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.