MIRA INFORM REPORT

 

 

Report No. :

332819

Report Date :

25.07.2015

 

IDENTIFICATION DETAILS

 

Name :

GLOBAL CNC RESOURCES JSC

 

 

Registered Office :

9 Dai Tu Dai Kim, Hoang Mai Dist, Hanoi

 

 

Country :

Vietnam

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

05.07.2010

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Exporter of Rubber & Products.

 

 

No. of Employees :

9

 

 

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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 18% in 2014, while industry's share increased from 36% to 38% 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 2014 growing at 5.4%, one of the slower growth rates since 1999. Exports have grown strongly in 2013-14; 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 has remained relatively stable since then. 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, Hanoi’s progress in meeting its goals is lagging behind its proposed schedule. Vietnam's economy continues to face challenges from an undercapitalized banking sector and non-performing loans weigh heavily on banks and businesses. Vietnam is a member of the 12-nation Trans-Pacific Partnership free trade agreement negotiations.

 

Source : CIA

 

 

REGISTERED NAME & COMPANY SUMMARY

 

Organization Name

:

GLOBAL CNC RESOURCES JSC (1)

Address

:

113 Lane 291 Lac Long Quan Nghia Do Ward, Cau Giay Dist, Hanoi

Country

:

Vietnam

Phone (S)

:

[+84] 4-39716605

Facsimile

:

[+84] 4-39716605

Email

:

info@global-cnc.com

Website

:

http://www.global-cnc.com

Primary Business Activity

:

Exporter

Key Industry

:

Rubber & Products

 

Registered Legal Address

:

9 Dai Tu Dai Kim, Hoang Mai Dist, Hanoi

Operational Address

:

113 Lane 291 Lac Long Quan Nghia Do Ward, Cau Giay Dist, Hanoi

Trading Name

:

GLOBAL CNC JSC

Issuing Authority

:

DEPARTMENT OF PLANNING & INVESTMENT - Hanoi

License Number

:

0104782369

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

:

5 Jul, 2010

Employees

:

9

Capital

:

US$ 229,568

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. Ngo Duc Tri

Nationality

:

Vietnamese

 

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Ms. Tran Phuong Mai

Vietnamese

Chief Accountant

Finance

Management Details - 1

Personal Unique Identifier

:

MI03314054

Name

:

Ms. Tran Phuong Mai

Date of Birth

:

1984

 

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03314039

Name

:

Mr. Ngo Duc Tri

Date of Birth

:

1983

Mobile No.

:

84-903428679

 

 

NEGATIVE INFORMATION

 

REPUTATION

Reference checking for the purpose of establishing GLOBAL CNC RESOURCES 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

 

 

SHARE & SHARE CAPITAL INFORMATION

 

CAPITAL (Currency: VND - Vietnam Dong)

Authorized Capital

:

₫ 5,000,000,000

Paid-up Capital

:

₫ 5,000,000,000

 

 

SHAREHOLDERS

Total number of shareholders

:

3

Total number of shares

:

n/a

 

Currency

:

VND - Vietnam Dong

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

Ms. Nguyen Thi Dzung

Vietnam

n/a

2,750,000,000

55.00

2

Mr. Ngo Duc Tri

Vietnam

n/a

1,250,000,000

25.00

3

Mr. Thach Viet Dzung

Vietnam

n/a

1,000,000,000

20.00

Total

n/a

5,000,000,000

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

International Sales (Export)

100%

 

Annual Purchases Analysis

Percentage

Local Purchases

100%

Imports

0%

 

PAYMENT TERMS

Selling

Type

Terms

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

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

LOCAL BRANCHES & MANAGEMENT

Branch

:

GLOBAL CNC RESOURCES JSC - TAN BINH DIST, HO CHI MINH

Branch Address

:

4Fl, 84 Bach Dang St Ward 2, Tan Binh Dist, Ho Chi Minh

Branch Tel

:

84-8-38485384

Branch Fax

:

84-8-38485661

Branch Employees

:

6

 

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

Year

Turnover

Assets

Net Income

2014 Annual  

3,835,250

781,087

159,765

 

FINANCIAL STATEMENT - DETAILED

Balance Sheet

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2014 Annual

Current Assets(*)

16,515,000,000

Share Capital(*)

5,000,000,000

Other long term assets 

Total Assets(*)

16,515,000,000

Total Liabilities(*)

6,740,000,000

Current Liabilities(*)

6,740,000,000

Long term liabilities 

Shareholders Funds(*)

9,775,000,000

 

Current assets & short term investments

16,515,000,000

Cash & cash equivalents

573,000,000

Cash

573,000,000

Accounts receivable

13,482,000,000

Accounts receivable trade

10,982,000,000

Others receivables

2,500,000,000

Other short term asset

2,460,000,000

VAT deductible

2,460,000,000

Total assets

16,515,000,000

Liabilities

6,740,000,000

Current liabilities

6,740,000,000

Short term borrowings

6,724,000,000

Taxes and payable to state budget

16,000,000

i. Owner's equity

9,775,000,000

ii Owner's equity

9,775,000,000

Business capital

5,000,000,000

Retained earnings

4,775,000,000

Total resources

16,515,000,000

Note: (*)

Financial Highlights

 

Income Statement

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2014 Annual

Turnover(*)

81,091,000,000

Profit (Loss) Before Tax(*)

4,331,000,000

Profit After Tax attributable to Shareholders(*)

3,378,000,000

 

Gross sales

81,091,000,000

Less deductions

89,000,000

Net income

81,002,000,000

Cost of goods sold

73,278,000,000

Gross margin

7,724,000,000

Income from financial activities

95,000,000

Expenses from financial activities

257,000,000

General & administration expenses

3,231,000,000

Net income from operating activities

4,331,000,000

Net profit before tax

4,331,000,000

Income tax

953,000,000

Net profit after tax

3,378,000,000

Note: (*)

Financial Highlights

 

Financial Ratios

Financial Highlights

2014 Annual

Profitability 

Profit Margin (%)

4.17

Return on Equity (%)

34.56

Return on Assets (%)

20.45

Leverage 

Total Debt Equity (Times)

0.69

Current Debt Equity (Times)

0.69

Total Asset To Total Equity

1.69

Asset Management 

Total Assets Turnover (Times)

4.91

Liquidity 

Current Ratio

2.45

Based on the corporate laws of Vietnam, legal entities which are a 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

=

0.000046 USD
United States Dollars

 

 

ADDITIONAL INFORMATION

 

Country

:

Vietnam

Business Entity Name

:

GLOBAL CNC RESOURCES JSC

Primary Business Activity

:

Exporter

Primary Industry

:

Rubber & Products

 

Office Contact Details

Operating Address

:

113 Lane 291 Lac Long Quan Nghia Do Ward, Cau Giay Dist, Hanoi

Tel

:

[+84] 4-39716605

Fax

:

[+84] 4-39716605

Email

:

info@global-cnc.com
agrimex@global-cnc.com

 

Website Details

Website

:

http://www.global-cnc.com

Status

:

Normal - operational

Country of Registration

:

Vietnam

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

:

0104782369

 

Primary Products

Products / Materials / Services Description

Activity

Natural rubber

Exporting

Rubber

Exporting

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Rubber & Misc. Plastics

3000

Exporting

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Rubbers & articles thereof

4000

Exporting

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of GLOBAL CNC RESOURCES JSC is Exporting - Finished products.

Key products include :

Natural rubber

Rubber

 

BANK DETAILS

Bank Name

:

VIETNAM BANK FOR AGRICULTURE & RURAL DEVELOPMENT

Global Identifier

:

32408794

Branch

:

Tu Liem,Hanoi

Branch Address

:

VIETNAM BANK FOR AGRICULTURE

SWIFT Code

:

VBAAVNVX

 

INTERNATIONAL TRADE - Activity & Markets

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Exporting

Middle-East

Medium

Exporting

China

Medium

Exporting

India

Medium

Exporting

Indonesia

Medium

Exporting

Korea, South (Republic of Korea)

Medium

Exporting

Malaysia

Medium

Exporting

Pakistan

Medium

Exporting

Saudi Arabia

Medium

Exporting

 

OFFICE & FACILITIES

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

Name

:

GLOBAL CNC RESOURCES JSC - CAU GIAY DIST, HANOI

Primary Use

:

Office & Administration facilities

Employees

:

3

Address

:

113 Lane 291 Lac Long Quan Nghia Do Ward, Cau Giay Dist, Hanoi

Country

:

Vietnam

Status

:

Operational

 

PREVIOUS CONTACT DETAILS

Company Address

:

6Fl, 609 Lac Long Quan, Tay Ho Dist, Hanoi

Date of Relocation

:

29 Sep, 2010

 

Telephone Number

:

84-4-66814088

 

 

NOTES & COMMENTS

 

N/a

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.89

UK Pound

1

Rs.99.10

Euro

1

Rs.70.12

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

VNT

 

               

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.