MIRA INFORM REPORT

 

 

Report No. :

301777

Report Date :

17.01.2015

 

IDENTIFICATION DETAILS

 

Name :

CENTRAL MINERALS AND TRANSPORT JSC

 

 

Registered Office :

5Fl TD Bldg 20A Le Hong Phong St Dong Khe Ward, Ngo Quyen Dist, Haiphong

 

 

Country :

Vietnam

 

 

Financials (as on) :

December, 2013

 

 

Date of Incorporation :

10.12.2009

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Providing Minerals/ Mining Services.

 

 

No. of Employees :

50

 

 

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 – 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

:

CENTRAL MINERALS AND TRANSPORT JSC (1)

Address

:

5Fl TD Bldg 20A Le Hong Phong St Dong Khe Ward, Ngo Quyen Dist, Haiphong

Country

:

Vietnam

Phone (S)

:

[+84] 31-3556767

Facsimile

:

[+84] 31-3556667

Email

:

contact@cmtgroup.vn

Website

:

http://www.cmtgroup.vn

Primary Business Activity

:

Service

Key Industry

:

Minerals / Mining

 

Key Facts

Registered Legal Address

:

5Fl TD Bldg 20A Le Hong Phong St Dong Khe Ward, Ngo Quyen Dist, Haiphong

Operational Address

:

5Fl TD Bldg 20A Le Hong Phong St Dong Khe Ward, Ngo Quyen Dist, Haiphong

Issuing Authority

:

Dept. of Planning & Investment - Hai Phong

License Number

:

0102019554

License Status

:

License exists – Normal.

Legal Form - Category

:

Joint Stock Company

Legal Form

:

Joint Stock Company

Legal Form - Abbreviation

:

JSC

Operational Status of Business

:

Normal

Date of Registration

:

10 Dec, 2009

Employees

:

50

Capital

:

US$ 469,508

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

 

Key Person

Legal Title

:

Managing Director

Name

:

Mr. Bui Huy Duc

Nationality

:

Vietnamese

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Ms. Nguyen Thi Thanh Thuy

Vietnamese

Chief Accountant

-

 

Management Details - 1

Personal Unique Identifier

:

MI03812782

Name

:

Ms. Nguyen Thi Thanh Thuy

 

Date of Birth

:

1982

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03812763

Name

:

Mr. Bui Huy Duc

Date of Birth

:

1982

 

 

NEGATIVE INFORMATION

 

REPUTATION

Reference checking for the purpose of establishing CENTRAL MINERALS AND TRANSPORT JSC'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

 

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

 

 

 

SHARE & SHARE CAPITAL INFORMATION

 

CAPITAL (Currency: VND - Vietnam Dong)

Authorized Capital

:

₫ 10,000,000,000

Paid-up 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. Bui Huy Duc

Vietnam

n/a

8,000,000,000

80.00

2

Mr. Vu Van Suot

Vietnam

n/a

1,000,000,000

10.00

3

Ms. Nguyen Thi Toan

Vietnam

n/a

1,000,000,000

10.00

Total

n/a

10,000,000,000

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

40%

International Sales (Export)

60%

Annual Purchases Analysis

Percentage

Local Purchases

80%

Imports

20%

 

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

 

N/A

 

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

Year

Sales

Assets

Net Income

2011 Annual  

1,523,092

1,269,275

121,892

2012 Annual  

2,536,512

1,414,957

12,581

2013 Annual (*)

2,950,006

1,545,375

110,868

 

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

 

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

2011 Annual

2012 Annual

2013 Annual

Current Assets(*)

19,784,000,000

19,318,000,000

18,449,000,000

Non Current Assets(*)

6,655,000,000

10,148,000,000

14,140,000,000

Non Current Liabilities(*)

1,449,000,000

274,000,000

-

Share Capital(*)

10,000,000,000

10,000,000,000

10,000,000,000

Other long term assets 

Total Assets(*)

26,439,000,000

29,466,000,000

32,589,000,000

Total Liabilities(*)

13,016,000,000

19,029,000,000

14,271,000,000

Current Liabilities(*)

11,567,000,000

18,755,000,000

14,271,000,000

Long term liabilities 

Shareholders Funds(*)

13,423,000,000

10,437,000,000

18,318,000,000

 

Current assets & short term investments

19,784,000,000

19,318,000,000

18,449,000,000

Cash & cash equivalents

2,341,000,000

2,794,000,000

219,000,000

Cash

2,341,000,000

2,794,000,000

219,000,000

Accounts receivable

10,940,000,000

4,507,000,000

9,280,000,000

Accounts receivable trade

8,460,000,000

4,386,000,000

6,940,000,000

Inter company receivables

-

-

1,654,000,000

Receivable from planning progress of construct contract

-

-

686,000,000

Others receivables

2,480,000,000

121,000,000

-

I. Inventories

5,886,000,000

1,769,000,000

6,800,000,000

II. Inventories

5,886,000,000

1,769,000,000

6,800,000,000

I. Other short term asset

617,000,000

10,248,000,000

2,150,000,000

Prepaid expenses

560,000,000

-

1,381,000,000

VAT deductible

57,000,000

248,000,000

769,000,000

II. Other short term asset

-

10,000,000,000

-

Long term assets

6,655,000,000

10,148,000,000

14,140,000,000

Accounts of long term receivable

-

6,885,000,000

-

Other long term receivables

-

6,885,000,000

-

Fixed assets

6,102,000,000

3,263,000,000

4,490,000,000

Tangible fixed assets

6,102,000,000

3,263,000,000

4,490,000,000

Cost

7,063,000,000

4,693,000,000

7,394,000,000

Accumulated depreciation

961,000,000

1,430,000,000

2,904,000,000

Long term investments

-

-

9,650,000,000

Invest to joint venture company

-

-

7,500,000,000

Other long term investments

-

-

2,150,000,000

Other long term assets

553,000,000

-

-

Long term prepayments

553,000,000

-

-

Total assets

26,439,000,000

29,466,000,000

32,589,000,000

Liabilities

13,016,000,000

19,029,000,000

14,271,000,000

Current liabilities

11,567,000,000

18,755,000,000

14,271,000,000

Short term borrowings

7,488,000,000

10,224,000,000

12,345,000,000

Accounts payables-trade

3,092,000,000

8,051,000,000

1,867,000,000

Advances from customers

-

396,000,000

-

Taxes and payable to state budget

847,000,000

56,000,000

59,000,000

Payable to employees

140,000,000

-

-

Accrued expenses payable

-

28,000,000

-

Long term liabilities

1,449,000,000

274,000,000

-

Long term borrowings

1,449,000,000

274,000,000

-

I. Owner's equity

13,423,000,000

10,437,000,000

18,318,000,000

II. Owner's equity

13,423,000,000

10,437,000,000

18,318,000,000

Business capital

10,000,000,000

10,000,000,000

10,000,000,000

Retained earnings

3,423,000,000

437,000,000

8,318,000,000

Total resources

26,439,000,000

29,466,000,000

32,589,000,000

Note: (*)

Financial Highlights

 

Income Statement

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2011 Annual

2012 Annual

2013 Annual

Turnover(*)

31,726,000,000

52,822,000,000

62,210,000,000

Profit (Loss) Before Tax(*)

3,386,000,000

349,000,000

3,117,000,000

Profit After Tax attributable to Shareholders(*)

2,539,000,000

262,000,000

2,338,000,000

 

Gross sales

31,726,000,000

52,822,000,000

62,210,000,000

Less deductions

23,953,000,000

688,000,000

0

Net income

7,773,000,000

52,134,000,000

62,210,000,000

Cost of goods sold

0

45,930,000,000

53,450,000,000

Gross margin

7,773,000,000

6,204,000,000

8,761,000,000

Income from financial activities

522,000,000

65,000,000

0

Expenses from financial activities

308,000,000

1,127,000,000

1,299,000,000

In which: Interest expenses

308,000,000

1,127,000,000

1,299,000,000

Selling expenses

2,697,000,000

0

0

General & administration expenses

1,904,000,000

4,802,000,000

4,344,000,000

Net income from operating activities

3,386,000,000

340,000,000

3,117,000,000

Extraordinary income

0

482,000,000

0

Extraordinary expenses

0

473,000,000

0

Extraordinary gains

0

9,000,000

0

Net profit before tax

3,386,000,000

349,000,000

3,117,000,000

Income tax

847,000,000

87,000,000

779,000,000

Net profit after tax

2,539,000,000

262,000,000

2,338,000,000

Note: (*)

Financial Highlights

 

Financial Ratios

Financial Highlights

2011 Annual

2012 Annual

2013 Annual

Growth % 

Year-on-Year Growth

-

66.49

17.77

Profitability 

Profit Margin (%)

8.00

0.50

3.76

Return on Equity (%)

18.92

2.51

12.76

Return on Assets (%)

9.60

0.89

7.17

Leverage 

Total Debt Equity (Times)

0.97

1.82

0.78

Current Debt Equity (Times)

0.86

1.80

0.78

Long Term Debt to Equity

0.11

0.03

-

Total Asset To Total Equity

1.97

2.82

1.78

Asset Management 

Total Assets Turnover (Times)

1.20

1.79

1.91

Fixed Assets Turnover (Times)

4.77

5.21

4.40

Liquidity 

Current Ratio

1.71

1.03

1.29

 

Based on the corporate laws of Vietnam, legal entities which are Joint Stock Company 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

 

Report Details

 

 

Country

:

Vietnam

Business Entity Name

:

CENTRAL MINERALS AND TRANSPORT JSC

Primary Business Activity

:

Service

Primary Industry

:

Minerals / Mining

Office Contact Details

Operating Address

:

5Fl TD Bldg 20A Le Hong Phong St Dong Khe Ward, Ngo Quyen Dist, Haiphong

Tel

:

[+84] 31-3556767

Fax

:

[+84] 31-3556667

Email

:

contact@cmtgroup.vn

Website Details

Website

:

http://www.cmtgroup.vn

Country of Registration

:

Vietnam

 

Primary Products

Products / Materials / Services Description

Activity

Minerals, transportation

Service

Transportation

Service

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Minerals and earths, ground or otherwise treated

3295

Trading

Transportation Services

4700

Service

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

 

Product/Service Description

Code

Activity

Freight transportation arrangement, nvocc, customs brokerage

9852

Service

Mineral substances nesoi

2530

Trading

 

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

Products / Materials / Services Description

Ranking

Activity

Calcium carbonate powder

Secondary

Trading

Minerals

Secondary

Trading

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of CENTRAL MINERALS AND TRANSPORT JSC is Specialized professional services, including:

Transportation


Key service include :

Minerals, transportation

 

 

BANK DETAILS

Bank Name

:

ASIA COMMERCIAL JOINT STOCK BANK

Global Identifier

:

P0075118

Branch

:

District 3,Ho Chi Minh

Branch Address

:

ASIA COMMERCIAL JOINT STOCK BANK, DUYEN HAI BRANCH

SWIFT Code

:

ASCBVNVX

 

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 - LE CHAN DIST, HAIPHONG

SWIFT Code

:

SGTTVNVX

 

Bank Name

:

VIETNAM BANK FOR AGRICULTURE & RURAL DEVELOPMENT

Global Identifier

:

32408794

Branch

:

Tu Liem,Hanoi

Branch Address

:

VIETNAM BANK FOR AGRICULTURE

SWIFT Code

:

VBAAVNVX

 

 

OFFICE & FACILITIES

 

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

 

Name

:

CENTRAL MINERALS AND TRANSPORT JSC - NGO QUYEN DIST, HAIPHONG

Primary Use

:

Office & Administration facilities

Address

:

5Fl TD Bldg 20A Le Hong Phong St Dong Khe Ward, Ngo Quyen Dist, Haiphong

Country

:

Vietnam

Status

:

Operational

 

 

 

 

PREVIOUS CONTACT DETAILS

 

 

 

Company Address

:

125 Lane 109 Truong Chinh Quan Tru Ward, Hai Phong

 

 

INTERNATIONAL TRADE - Activity & Markets

 

 

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing, Exporting

Bangladesh

Medium

Exporting

India

Medium

Exporting

Indonesia

Medium

Importing

Korea, South (Republic of Korea)

Medium

Exporting

Taiwan

Medium

Exporting

 

 

 

 

NOTES & COMMENTS

 

N/A

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.89

UK Pound

1

Rs.93.92

Euro

1

Rs.72.01

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

NIT

 

               

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.