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Report No. : |
304809 |
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Report Date : |
31.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
KHANG KIEN YARN CO LTD |
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Registered Office : |
5 St 4 Truong Thanh Ward, District 9, Ho Chi Minh |
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Country : |
Vietnam |
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Date of Incorporation : |
27.11.2013 |
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Legal Form : |
Private Company with Limited Liability |
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Line of Business : |
Subject is engaged Manufacturer of Textiles & Raw Material. |
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No. of Employee : |
40 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source
: CIA |
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Organization
Name |
: |
KHANG KIEN YARN
CO LTD (1) |
|
Address |
: |
5 St 4 Truong Thanh Ward, District 9, Ho Chi Minh |
|
Country |
: |
Vietnam |
|
Phone (S) |
: |
[+84] 8-62960009 |
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Facsimile |
: |
[+84] 8-62960009 |
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Email |
: |
kkyarn@kkyarn.com |
|
Website |
: |
|
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Primary Business
Activity |
: |
Manufacturer |
|
Key Industry |
: |
Textiles & Raw Material |
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Key Facts |
||
|
Registered Legal
Address |
: |
5 St 4 Truong Thanh Ward, District 9, Ho Chi Minh |
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Operational
Address |
: |
5 St 4 Truong Thanh Ward, District 9, Ho Chi Minh |
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Trading Name |
: |
KK YARN CO LTD |
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Issuing
Authority |
: |
Dept. of Planning & Investment - Ho Chi Minh |
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License Number |
: |
0312565460 |
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License Status |
: |
License exists - Normal. |
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Legal Form -
Category |
: |
Private Company with Limited Liability |
|
Legal Form |
: |
Company Limited |
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Legal Form -
Abbreviation |
: |
CO LTD |
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Operational
Status of Business |
: |
Normal |
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Date of
Registration |
: |
27 Nov, 2013 |
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Employees |
: |
40 |
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Capital |
: |
US$ 563,409 |
|
Note |
: |
(1) Legal status of
the English corporate name |
Key
Person
|
Legal
Title |
: |
Executive Director |
|
Name |
: |
Ms. Tram Anh Thi Chau |
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Nationality |
: |
Vietnamese |
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COMPANY
DIRECTORS |
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REPUTATION |
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Due to the recent incorporation of the
KHANG KIEN YARN CO LTD, and the relatively small nature of its business, no meaningful
points of reference in terms of reputation within the respective industry was
possible. |
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NEGA-SCAN
- ADVERSE DATA MONITORING |
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CAPITAL (Currency: VND - Vietnam Dong) |
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SHAREHOLDERS |
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PAYMENT
TERMS |
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Selling |
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Purchasing |
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FINANCIAL
STATEMENT - DETAILED |
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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. |
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Today's Exchange
rate |
: |
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Report Details
|
Country |
: |
Vietnam |
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Business
Entity Name |
: |
KHANG KIEN YARN CO LTD |
|
Primary
Business Activity |
: |
Manufacturer |
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Primary
Industry |
: |
Textiles & Raw Material |
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Office
Contact Details |
||
|
Operating
Address |
: |
5 St 4 Truong Thanh Ward, District 9, Ho
Chi Minh |
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Tel |
: |
[+84] 8-62960009 |
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Fax |
: |
[+84] 8-62960009 |
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Email |
: |
kkyarn@kkyarn.com |
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Website
Details |
||
|
Website |
: |
|
|
Status |
: |
Normal - operational |
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Country
of Registration |
: |
Vietnam |
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Ownership
Type |
: |
Registered ownership by Subject Business
Entity |
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Tax
/ VAT Details |
||
|
Tax
Issuing Authority |
: |
Ministry of Finance |
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Local
Name Used |
: |
Gia Trj Gia Tang (Value Added Tax) |
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Acronym |
: |
GTGT / VAT |
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GTGT
/ VAT Number |
: |
0312565460 |
Primary
Products
|
Products / Materials / Services Description |
|
Activity |
|
Sewing thread |
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Manufacturing, Exporting |
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Yarns Manufacturing, Exporting |
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Core Business |
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The primary business focus of KHANG KIEN YARN CO LTD is Manufacturing - Finished products. |
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Key p |
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roducts include : |
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· Yarns |
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· Sewing thread |
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An integral part of the core business includes: |
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· Distribution |
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Supplementary Business |
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In addition to the core business, KHANG
KIEN YARN CO LTD also is engaged in the following areas of business:
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Country / Region |
Estimated level of importance |
Trading Activity |
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Asia / Pacific |
Medium |
Importing, Exporting |
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Europe |
Medium |
Importing, Exporting |
|
Middle-East |
Medium |
Exporting |
|
North America |
Medium |
Exporting |
|
South America |
Medium |
Exporting |
|
Brazil |
Medium |
Exporting |
|
China |
Medium |
Exporting |
|
Germany |
Medium |
Importing |
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Guatemala |
Medium |
Exporting |
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Italy |
Medium |
Importing, Exporting |
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Japan |
Medium |
Importing, Exporting |
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Korea, South (Republic of Korea) |
Medium |
Exporting |
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Malaysia |
Medium |
Exporting |
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Philippines |
Medium |
Exporting |
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Portugal |
Medium |
Exporting |
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Singapore |
Medium |
Exporting |
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Taiwan |
Medium |
Importing, Exporting |
|
Turkey |
Medium |
Exporting |
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The following
information relates to the Business Entity's office as listed above: |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.76 |
|
|
1 |
Rs. 93.13 |
|
Euro |
1 |
Rs. 70.03 |
INFORMATION DETAILS
|
Analysis Done by : |
RAS |
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|
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Report Prepared by
: |
ASH |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.