IRA INFORM REPORT

 

 

Report No. :

321537

Report Date :

09.06.2015

 

IDENTIFICATION DETAILS

 

Name :

KIM LONG IMPORT AND EXPORT CO LTD

 

 

Registered Office :

985 Giai Phong St, Hoang Mai Dist, Hanoi

 

 

Country :

Vietnam

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

31.12.2004

 

 

Legal Form :

Private Company with Limited Liability

 

 

Line of Business :

Importer of Metals & Metal Products

 

 

No. of Employees :

12

 

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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 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

 

Company Details

Organization Name

:

KIM LONG IMPORT AND EXPORT CO LTD (1)

Address

:

985 Giai Phong St, Hoang Mai Dist, Hanoi

Country

:

Vietnam

Phone (S)

:

[+84] 4-36646734

Facsimile

:

[+84] 4-36646735

Email

:

sales@kimlongimpex.com

Website

:

http://www.kimlong.com.vn

Primary Business Activity

:

Importer

Key Industry

:

Metals & Metal Products

 

 

Key Facts

Registered Legal Address

:

29 Van Chuong Lane Van Chuong Ward, Dong Da, Hanoi

Operational Address

:

985 Giai Phong St, Hoang Mai Dist, Hanoi

Trading Name

:

KIM LONG IMPEX CO LTD

Issuing Authority

:

Dept. of Planning & Investment - Hanoi

License Number

:

0102015588

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

:

31 Dec, 2004

Employees

:

12

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. Dinh Thi Bich Lien

Nationality

:

Vietnamese

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Ms. Tran Truc Ha

Vietnamese

Chief Accountant

-

2

Ms. Phan Hong Thuy

Vietnamese

Deputy Managing Director

-

 

Management Details - 1

Personal Unique Identifier

:

MI03852492

Name

:

Ms. Tran Truc Ha

 

Date of Birth

:

1979

 

Management Details - 2

Personal Unique Identifier

:

MI03852491

Name

:

Ms. Phan Hong Thuy

 

Date of Birth

:

1975

Mobile No.

:

84-904217713

 

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03852489

Name

:

Ms. Dinh Thi Bich Lien

Date of Birth

:

1977

Mobile No.

:

84-912354971

2

 

 

Personal Unique Identifier

:

MI03852491

Name

:

Ms. Phan Hong Thuy

Date of Birth

:

1975

Mobile No.

:

84-904217713

3

 

 

Personal Unique Identifier

:

MI03852492

Name

:

Ms. Tran Truc Ha

Date of Birth

:

1979

 

 

NEGATIVE INFORMATION

 

REPUTATION

Reference checking for the purpose of establishing KIM LONG IMPORT AND EXPORT 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

:

US$ 45,893

 

CAPITAL (Currency: VND - Vietnam Dong)

Authorized Capital

:

₫ 1,000,000,000

Paid-up Capital

:

₫ 1,000,000,000

 

SHAREHOLDERS

Total number of shareholders

:

2

Total number of shares

:

n/a

 

Currency

:

VND - Vietnam Dong

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

Ms. Dinh Thi Bich Lien

Vietnam

n/a

500,000,000

50.00

2

Ms. Phan Hong Thuy

Vietnam

n/a

500,000,000

50.00

Total

n/a

1,000,000,000

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

100%

Annual Purchases Analysis

Percentage

Imports

100%

 

PAYMENT TERMS

Selling

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~90 days

Purchasing

Type

Terms

Import

Letter of Credit (At-sight)

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

Documents against Acceptance (D/A)

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

N/a

 

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

Year

Turnover

Assets

Net Income

2011 Annual  

750,072

344,695

18,291

2012 Annual  

1,075,984

400,679

40,865

2013 Annual (*)

1,476,663

449,495

78,765

 

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(*)

6,689,000,000

8,075,000,000

7,210,000,000

Non Current Assets(*)

491,000,000

269,000,000

2,269,000,000

Non Current Liabilities(*)

300,000,000

450,000,000

1,791,000,000

Share Capital(*)

1,000,000,000

1,000,000,000

1,000,000,000

Other long term assets 

Total Assets(*)

7,180,000,000

8,344,000,000

9,479,000,000

Total Liabilities(*)

5,598,000,000

6,107,000,000

5,581,000,000

Current Liabilities(*)

5,298,000,000

5,657,000,000

3,790,000,000

Long term liabilities 

Shareholders Funds(*)

1,582,000,000

2,237,000,000

3,898,000,000

 

Current Assets & Short Term Investments

6,689,000,000

8,075,000,000

7,210,000,000

Cash & Cash Equivalents

76,000,000

193,000,000

218,000,000

Cash

-

193,000,000

218,000,000

Cash Equivalents

76,000,000

-

-

Accounts Receivable

467,000,000

571,000,000

398,000,000

Accounts Receivable Trade

383,000,000

247,000,000

398,000,000

Trade Prepayment

84,000,000

276,000,000

-

Others Receivables

-

48,000,000

-

Inventories

5,915,000,000

6,734,000,000

5,382,000,000

I. Inventories

5,915,000,000

6,734,000,000

5,382,000,000

Other Short Term Asset

231,000,000

577,000,000

1,212,000,000

VAT Deductible

231,000,000

577,000,000

1,212,000,000

Long Term Assets

491,000,000

269,000,000

2,269,000,000

Fixed Assets

491,000,000

269,000,000

2,269,000,000

Tangible Fixed Assets

491,000,000

269,000,000

2,269,000,000

Cost

1,122,000,000

1,122,000,000

3,336,000,000

Accumulated Depreciation

631,000,000

853,000,000

1,067,000,000

Total Assets

7,180,000,000

8,344,000,000

9,479,000,000

Liabilities

5,598,000,000

6,107,000,000

5,581,000,000

Current Liabilities

5,298,000,000

5,657,000,000

3,790,000,000

Short Term Borrowings

4,994,000,000

4,092,000,000

3,500,000,000

Accounts Payables-Trade

166,000,000

600,000,000

290,000,000

Advances from Customers

125,000,000

624,000,000

-

Taxes and Payable to State Budget

-

96,000,000

-

Payable to Employees

-

93,000,000

-

Other Payables

13,000,000

152,000,000

-

Long Term Liabilities

300,000,000

450,000,000

1,791,000,000

Long Term Borrowings

300,000,000

450,000,000

1,791,000,000

Owners Equity

1,582,000,000

2,237,000,000

3,898,000,000

I. Owners Equity

1,582,000,000

2,237,000,000

3,898,000,000

Business Capital

1,000,000,000

1,000,000,000

1,000,000,000

Retained Earnings

582,000,000

1,237,000,000

2,898,000,000

Total Resources

7,180,000,000

8,344,000,000

9,479,000,000

Note: (*)

Financial Highlights

 

Income Statement

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2011 Annual

2012 Annual

2013 Annual

Turnover(*)

15,624,000,000

22,407,000,000

31,140,000,000

Profit (Loss) Before Tax(*)

508,000,000

1,135,000,000

2,076,000,000

Profit After Tax attributable to Shareholders(*)

381,000,000

851,000,000

1,661,000,000

 

Gross Sales

15,624,000,000

22,407,000,000

31,140,000,000

Net Income

15,624,000,000

22,407,000,000

31,140,000,000

Cost of Goods Sold

13,750,000,000

19,046,000,000

26,902,000,000

Gross Margin

1,874,000,000

3,361,000,000

4,238,000,000

Income from Financial Activities

3,000,000

5,000,000

6,000,000

Expenses from Financial Activities

593,000,000

662,000,000

746,000,000

In Which Interest Expenses

359,000,000

474,000,000

362,000,000

Selling Expenses

0

0

1,422,000,000

General & Administration Expenses

779,000,000

1,569,000,000

0

Net Income from Operating Activities

505,000,000

1,135,000,000

2,076,000,000

Extraordinary Income

37,000,000

0

0

Extraordinary Expenses

34,000,000

0

0

Extraordinary Gains

3,000,000

0

0

Net Profit Before Tax

508,000,000

1,135,000,000

2,076,000,000

Income Tax

127,000,000

284,000,000

415,000,000

Net Profit After Tax

381,000,000

851,000,000

1,661,000,000

Note: (*)

Financial Highlights

 

Financial Ratios

Financial Highlights

2011 Annual

2012 Annual

2013 Annual

Growth % 

Year-on-Year Growth

-

43.41

38.97

Profitability 

Profit Margin (%)

2.44

3.80

5.33

Return on Equity (%)

24.08

38.04

42.61

Return on Assets (%)

5.31

10.20

17.52

Leverage 

Total Debt Equity (Times)

3.54

2.73

1.43

Current Debt Equity (Times)

3.35

2.53

0.97

Long Term Debt to Equity

0.19

0.20

0.46

Total Asset To Total Equity

4.54

3.73

2.43

Asset Management 

Total Assets Turnover (Times)

2.18

2.69

3.29

Fixed Assets Turnover (Times)

31.82

83.30

13.72

Liquidity 

Current Ratio

1.26

1.43

1.90

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

=

0.000046 USD
United States Dollars

 

 

ADDITIONAL INFORMATION

 

Report Details

 

Country

:

Vietnam

Business Entity Name

:

KIM LONG IMPORT AND EXPORT CO LTD

Primary Business Activity

:

Importer

Primary Industry

:

Metals & Metal Products

Office Contact Details

Operating Address

:

985 Giai Phong St, Hoang Mai Dist, Hanoi

Tel

:

[+84] 4-36646734

 

:

[+84] 4-36647242

Fax

:

[+84] 4-36646735

Email

:

sales@kimlongimpex.com
imp@kimlongimpex.com

Website Details

Website

:

http://www.kimlong.com.vn

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

:

0101594889

Date of Issuance

:

1 Jan, 2005

 

Primary Products

Products / Materials / Services Description

Activity

Butt weld fittings

Importing

Cold rolled stainless steel

Importing

Cold work tooling steel

Importing

Covered electrodes

Importing

High speed tool steel

Importing

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Cold-Rolled Steel Products

3316

Importing

Fabricated metal products, nspf

3499

Importing

Fabricated wire products, nspf

3496

Importing

Iron & steel forgings

3462

Importing

Primary metal products, nspf

3399

Importing

Steel Foundries, NEC

3325

Importing

Welding apparatus, and parts, nspf

3548

Importing

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Articles of iron or steel

7300

Importing

Bars and rods, stainless steel, hot-rolled, irreg coils

7221

Importing

Iron & steel

7200

Importing

Miscellaneous articles of base metal

8300

Importing

 

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

Products / Materials / Services Description

Ranking

Activity

Hot rolled stainless steel

Primary

Importing

Hot work tooling steel

Primary

Importing

MIG wires

Primary

Importing

Plastic molded steel

Primary

Importing

Special steel

Primary

Importing

Stainless steel

Primary

Importing

Stainless steel rods

Primary

Importing

Stainless steel wire

Primary

Importing

TIG welding rods

Primary

Importing

Threaded fittings

Primary

Importing

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of KIM LONG IMPORT AND EXPORT CO LTD is Importing - Finished products.

Key products include :

Butt weld fittings

Cold rolled stainless steel

Cold work tooling steel

Covered electrodes

High speed tool steel

Hot rolled stainless steel

Hot work tooling steel

MIG wires

Plastic molded steel

Special steel

Stainless steel

Stainless steel rods

Stainless steel wire

TIG welding rods

Threaded fittings

Wear resistant steel

Welding rod steel


An integral part of the core business includes:

Distribution

 

BANK DETAILS

Bank Name

:

VIETNAM TECHNOLOGICAL & COMMERCIAL JOINT STOCK BANK

Global Identifier

:

32408999

Branch

:

Hoan Kiem Dist,Hanoi

Branch Address

:

VIETNAM TECHNOLOGICAL

SWIFT Code

:

VTCBVNVX

 

INTERNATIONAL TRADE - Activity & Markets

 

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing

Europe

Medium

Importing

India

Medium

Importing

Japan

Medium

Importing

Korea, South (Republic of Korea)

Medium

Importing

Taiwan

Medium

Importing

 

OFFICE & FACILITIES

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

Name

:

KIM LONG IMPORT AND EXPORT CO LTD - HOANG MAI DIST, HANOI

Primary Use

:

Office & Administration facilities

Address

:

985 Giai Phong St, Hoang Mai Dist, Hanoi

Country

:

Vietnam

Status

:

Operational

 

PREVIOUS CONTACT DETAILS

Company Address

:

19/26 Alley Thai Thinh Lane 2 Thai Thinh St Thinh Quang Ward, Dong Da, Hanoi

 

 

NOTES & COMMENTS

 

N/a

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.64.11

UK Pound

1

Rs.97.84

Euro

1

Rs.71.12

 

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%)

 

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.