MIRA INFORM REPORT

 

 

Report No. :

303400

Report Date :

27.01.2015

           

IDENTIFICATION DETAILS

 

Name :

MI SA INTERNATIONAL TRADING CO LTD

 

 

Registered Office :

4Fl Thien Son Bldg 5 Nguyen Gia Thieu St, District 3, Ho Chi Minh

 

 

Country :

Vietnam

 

 

Financials (as on) :

2013

 

 

Date of Incorporation :

18.04.2011

 

 

Legal Form :

Private Company With Limited Liability

 

 

Line of Business :

Importer of Agricultural Products.

 

 

No. of Employee :

12

 

 

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

 

Organization Name

:

MI SA INTERNATIONAL TRADING CO LTD

Address

:

4Fl Thien Son Bldg 5 Nguyen Gia Thieu St, District 3, Ho Chi Minh

Country

:

Vietnam

Phone (S)

:

[+84] 8-39309445

Facsimile

:

[+84] 8-39309449

Primary Business Activity

:

Importer

Key Industry

:

Agricultural Products

 

Key Facts

Registered Legal Address

:

4Fl Thien Son Bldg 5 Nguyen Gia Thieu St, District 3, Ho Chi Minh

Operational Address

:

4Fl Thien Son Bldg 5 Nguyen Gia Thieu St, District 3, Ho Chi Minh

Issuing Authority

:

Dept. of Planning & Investment - Ho Chi Minh

License Number

:

0305462859

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

:

18 Apr, 2011

Employees

:

12

Capital

:

US$ 230,059

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

:

Ms. Nguyen Thi Hang

Nationality

:

Vietnamese

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Ms. Nguyen Thi Nga

Vietnamese

Chief Accountant

-

Management Details - 1

Personal Unique Identifier

:

MI02991375

Name

:

Ms. Nguyen Thi Nga

 

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03815178

Name

:

Ms. Nguyen Thi Hang

Date of Birth

:

1969

 

NEGATIVE INFORMATION

 

REPUTATION

Reference checking for the purpose of establishing MI SA INTERNATIONAL 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

:

₫ 4,900,000,000

Paid-up Capital

:

₫ 4,900,000,000

 

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. Nguyen Van Dung

Vietnam

n/a

4,410,000,000

90.00

2

Ms. Nguyen Thi Hang

Vietnam

n/a

490,000,000

10.00

Total

n/a

4,900,000,000

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

100%

Annual Purchases Analysis

Percentage

Imports

100%

 

PAYMENT TERMS

 

Selling

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~60 days

Purchasing

Type

Terms

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  

7,252,136

941,719

22,324

2012 Annual  

5,495,600

681,404

42,978

2013 Annual (*)

4,053,188

809,035

-82,985

 

Sales Trend – Analysis

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

-

-

-

-

-

-

-

http://www.asiancredit.com/Manage/image/down_arrow_04.gif

http://www.asiancredit.com/Manage/image/down_arrow_04.gif

http://www.asiancredit.com/Manage/image/down_arrow_04.gif

 

 Liabilities(*)

11,403,000,000

5,096,000,000

9,956,000,000

 

Long term liab FINANCIALS - SUMMARY (Currency: USD - US Dollar)

Year

Sales

Assets

Net Income

2010 Annual

10,288,456

1,452,591

83,068

 

 

FINANCIAL STATEMENT - DETAILED

 

Balance Sheet

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2011 Annual

2012 Annual

2013 Annual

Current Assets(*)

19,616,000,000

14,190,000,000

17,061,000,000

Non Current Liabilities(*)

0

0

0

Share Capital(*)

4,900,000,000

4,900,000,000

4,900,000,000

Other long term assets 

Total Assets(*)

19,616,000,000

14,190,000,000

17,061,000,000

Total Liabilities(*)

11,403,000,000

5,096,000,000

9,956,000,000

Current Liabilities(*)

11,403,000,000

5,096,000,000

9,956,000,000

Long term liabilities 

Shareholders Funds(*)

8,213,000,000

9,094,000,000

7,105,000,000

 

Current assets & short term investments

19,616,000,000

14,190,000,000

17,061,000,000

Cash & cash equivalents

648,000,000

1,155,000,000

2,482,000,000

Cash

-

1,155,000,000

2,482,000,000

Cash equivalents

648,000,000

-

-

Accounts receivable

3,088,000,000

6,152,000,000

3,150,000,000

Accounts receivable trade

3,088,000,000

6,152,000,000

3,147,000,000

Trade prepayment

-

-

3,000,000

i.Inventories

14,979,000,000

6,243,000,000

10,095,000,000

ii.Inventories

14,979,000,000

6,243,000,000

10,095,000,000

i.Other short term asset

901,000,000

640,000,000

1,334,000,000

Prepaid expenses

-

7,000,000

-

VAT deductible

877,000,000

628,000,000

1,306,000,000

Other tax receivables

-

5,000,000

28,000,000

ii.Other short term asset

24,000,000

-

-

Total assets

19,616,000,000

14,190,000,000

17,061,000,000

Liabilities

11,403,000,000

5,096,000,000

9,956,000,000

Current liabilities

11,403,000,000

5,096,000,000

9,956,000,000

Short term borrowings

4,380,000,000

2,200,000,000

7,031,000,000

Accounts payables-trade

6,176,000,000

2,361,000,000

2,772,000,000

Taxes and payable to state budget

482,000,000

142,000,000

10,000,000

Payable to employees

346,000,000

385,000,000

139,000,000

Accrued expenses payable

19,000,000

8,000,000

4,000,000

i.Owner's equity

8,213,000,000

9,094,000,000

7,105,000,000

ii.Owner's equity

8,213,000,000

9,094,000,000

7,105,000,000

Business capital

4,900,000,000

4,900,000,000

4,900,000,000

Retained earnings

3,313,000,000

4,194,000,000

2,205,000,000

Total resources

19,616,000,000

14,190,000,000

17,061,000,000

Note: (*)

Financial Highlights

 

Income Statement

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2011 Annual

2012 Annual

2013 Annual

Turnover(*)

151,062,000,000

114,444,000,000

85,474,000,000

Profit (Loss) Before Tax(*)

564,000,000

1,085,000,000

(1,750,000,000)

Profit After Tax attributable to Shareholders(*)

465,000,000

895,000,000

(1,750,000,000)

 

Gross sales

151,062,000,000

114,444,000,000

85,474,000,000

Net income

151,062,000,000

114,444,000,000

85,474,000,000

Cost of goods sold

136,261,000,000

100,745,000,000

79,590,000,000

Gross margin

14,801,000,000

13,699,000,000

5,884,000,000

Income from financial activities

52,000,000

150,000,000

19,000,000

Expenses from financial activities

2,378,000,000

1,012,000,000

1,031,000,000

In which: Interest expenses

1,595,000,000

43,000,000

565,000,000

General & administration expenses

12,060,000,000

12,008,000,000

7,412,000,000

Net income from operating activities

415,000,000

829,000,000

(2,540,000,000)

Extraordinary income

149,000,000

256,000,000

790,000,000

Extraordinary gains

149,000,000

256,000,000

790,000,000

Net profit before tax

564,000,000

1,085,000,000

(1,750,000,000)

Income tax

99,000,000

190,000,000

-

Net profit after tax

465,000,000

895,000,000

(1,750,000,000)

Note: (*)

Financial Highlights

 

Financial Ratios

Financial Highlights

2011 Annual

2012 Annual

2013 Annual

Growth % 

Year-on-Year Growth

(24.67)

(24.24)

(25.31)

Profitability 

Profit Margin (%)

0.31

0.78

(2.05)

Return on Equity (%)

5.66

9.84

(24.63)

Return on Assets (%)

2.37

6.31

(10.26)

Leverage 

Total Debt Equity (Times)

1.39

0.56

1.40

Current Debt Equity (Times)

1.39

0.56

1.40

Total Asset To Total Equity

2.39

1.56

2.40

Asset Management 

Total Assets Turnover (Times)

7.70

8.07

5.01

Liquidity 

Current Ratio

1.72

2.78

1.71

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

 

Report Details

Country

:

Vietnam

Business Entity Name

:

MI SA INTERNATIONAL TRADING CO LTD

Primary Business Activity

:

Importer

Primary Industry

:

Agricultural Products

Office Contact Details

Operating Address

:

4Fl Thien Son Bldg 5 Nguyen Gia Thieu St, District 3, Ho Chi Minh

Tel

:

[+84] 8-39309445

 

:

[+84] 8-39309447

 

:

[+84] 8-39309448

 

:

[+84] 8-39309446

Fax

:

[+84] 8-39309449

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

:

0305462859

 

 

Primary Products

 

Products / Materials / Services Description

Activity

Animal feed

Importing

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

 

Product/Service Description

Code

Activity

Prepared feeds, nspf

2048

Importing

 

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

 

Product/Service Description

Code

Activity

Livestock feed, prepared

2309901040

Importing

Other livestock feed nesoi, prepared

2309901045

Importing

Preparations of a kind used in animal feeding

2309909000

Importing

Preparations used in animal feeding

2309

Importing

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of MI SA INTERNATIONAL TRADING CO LTD is Importing - Finished products.

Key product include :

Animal feed

An integral part of the core business includes:

Distribution

 

BANK DETAILS

 

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 - DISTRICT 8, HO CHI MINH

SWIFT Code

:

SGTTVNVX

 

Bank Name

:

VIETNAM MARITIME COMMERCIAL JOINT STOCK BANK JSC

Global Identifier

:

32404826

Branch

:

Dong Da,Hanoi

Branch Address

:

VIETNAM MARITIME COMMERCIAL JOINT STOCK BANK JSC, DO THANH

SWIFT Code

:

MCOBVNVX

 

 

INTERNATIONAL TRADE - Activity & Markets

 

 

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing

 

 

OFFICE & FACILITIES

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

Name

:

MI SA INTERNATIONAL TRADING CO LTD - DISTRICT 3, HO CHI MINH

Primary Use

:

Office & Administration facilities

Address

:

4Fl Thien Son Bldg 5 Nguyen Gia Thieu St, District 3, Ho Chi Minh

Country

:

Vietnam

Status

:

Operational

 

PREVIOUS BUSINESS LICENSE/S

 

License Date

License No.

18 Jan, 2008

4102057846

 

 

NOTES & COMMENTS

 

N/A

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.50

UK Pound

1

Rs.92.16

Euro

1

Rs.69.62

 

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

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.