MIRA INFORM REPORT

 

 

Report No. :

326270

Report Date :

18.06.2015

 

IDENTIFICATION DETAILS

 

Name :

OSS DAI DUONG INTERNATIONAL JSC

 

 

Registered Office :

Lot LE4 Rd 2 Xuyen A Industrial Park My Hanh Bac Commune, Duc Hoa, Long An

 

 

Country :

Vietnam

 

 

Date of Incorporation :

08.04.2009

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Subject is manufacturer of metals & metal products

 

 

No. of Employee :

200

 

 

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

 

Company Details

Organization Name

:

OSS DAI DUONG INTERNATIONAL JSC (1)

Address

:

Lot LE4 Rd 2 Xuyen A Industrial Park My Hanh Bac Commune, Duc Hoa, Long An

Country

:

Vietnam

Phone (S)

:

[+84] 72-3751667

Facsimile

:

[+84] 72-3751665

Website

:

http://www.inoxdaiduong.com

Primary Business Activity

:

Manufacturer

Key Industry

:

Metals & Metal Products

 

Key Facts

 

Registered Legal Address

:

Lot LE4 Rd 2 Xuyen A Industrial Park My Hanh Bac Commune, Duc Hoa, Long An

Operational Address

:

Lot LE4 Rd 2 Xuyen A Industrial Park My Hanh Bac Commune, Duc Hoa, Long An

Trading Name

:

TAI PHUC DAT CO LTD

Issuing Authority

:

Department of Planning and Investment - National

License Number

:

1100968607

License Status

:

License exists - Normal.

Legal Form - Category

:

Joint Stock Company

Legal Form

:

Joint Stock Company

Legal Form - Abbreviation

:

Normal

Operational Status of Business

:

Normal

Date of Registration

:

8 Apr, 2009

Employees

:

200

Capital

:

US$ 2,340,523

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.

 

Report Details

 

 

Country

:

Vietnam

Business Entity Name

:

OSS DAI DUONG INTERNATIONAL JSC

Primary Business Activity

:

Manufacturer

Primary Industry

:

Metals & Metal Products

Office Contact Details

Operating Address

:

Lot LE4 Rd 2 Xuyen A Industrial Park My Hanh Bac Commune, Duc Hoa, Long An

Tel

:

[+84] 72-3751667

Fax

:

[+84] 72-3751665

Website Details

Website

:

http://www.inoxdaiduong.com

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

:

1100968607

 

 

 

DIRECTORS/MANAGEMENT

 

Key Person

Legal Title

:

Managing Director

Name

:

Mr. Pham Quang Minh

Nationality

:

Vietnamese

 

 

COMPANY MANAGEMENT

 

 

 

Management Listings

 

 

Name

Nationality

Job Description

Dept. / Division

1

Mr. Mai Quang Huy

Vietnamese

Assist. Managing Director

-

2

Ms. Cao Thi Ngoc Mai

Vietnamese

Chief Accountant

-

3

Mr. Pham Quoc Vu

Vietnamese

Assist. Managing Director

-

 

 

Management Details - 1

Personal Unique Identifier

:

MI03864110

Name

:

Mr. Mai Quang Huy

 

 

 

Management Details - 2

Personal Unique Identifier

:

MI03864112

Name

:

Ms. Cao Thi Ngoc Mai

 

 

 

Management Details - 3

Personal Unique Identifier

:

MI03864111

Name

:

Mr. Pham Quoc Vu

 

 

 

COMPANY DIRECTORS

 

1

 

 

Personal Unique Identifier

:

MI03864108

Name

:

Mr. Pham Quang Minh

Date of Birth

:

1974

 

 

NEGATIVE INFORMATION

 

 

REPUTATION

 

Reference checking for the purpose of establishing OSS DAI DUONG INTERNATIONAL JSC's reputation within the respective industry failed to reveal any adverse information.

 

 

NEGA-SCAN - ADVERSE DATA MONITORING

 

 

DISHONORED CHECKS

 

No Record Found

 

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

 

DEBT

 

No Record Found

 

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

 

CIVIL LITIGATION

 

No Record Found

 

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

 

PERFORMANCE DEFAULTS

 

No Record Found

 

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

 

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

:

₫ 51,000,000,000

 

Date

Authorized Capital - History

2011

26,400,000,000

2012

29,400,000,000

2013

42,740,000,000

2014

51,000,000,000

 

 

SHAREHOLDERS

 

Total number of shareholders

:

n/a

Total number of shares

:

n/a

 

Currency

:

VND - Vietnam Dong

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

Mr. Pham Quang Minh

Vietnam

n/a

n/a

68.00

2

Ms. Lai Thi Tham

Vietnam

n/a

n/a

18.00

3

Ms. Pham Thi Thu Huong

Vietnam

n/a

n/a

10.00

4

Ms. Vu Thu Thao

Vietnam

n/a

n/a

3.00

5

Undisclosed Shareholders

n/a

n/a

n/a

1.00

Total

n/a

n/a

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

80%

International Sales (Export)

20%

 

Annual Purchases Analysis

Percentage

Local Purchases

90%

Imports

10%

 

 

PAYMENT TERMS

 

Selling

 

Type

Terms

Local

Cash on delivery (COD)

Credit - Secured with Post-dated checks 30~90 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 30~90 days

Import

Letter of Credit (At-sight)

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

 

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Na

 

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

Year

Turnover

Assets

Net Income

2011 Annual  

8,684,782

4,639,078

93,999

2012 Annual  

12,123,991

5,421,313

265,935

2013 Annual (*)

16,864,306

8,221,750

339,718

 

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(*)

62,967,000,000

81,376,000,000

140,229,000,000

Non Current Assets(*)

33,665,000,000

31,521,000,000

33,152,000,000

Non Current Liabilities(*)

20,606,000,000

17,799,000,000

17,354,000,000

Share Capital(*)

26,400,000,000

29,400,000,000

42,740,000,000

Other long term assets 

Total Assets(*)

96,632,000,000

112,897,000,000

173,381,000,000

Total Liabilities(*)

67,885,000,000

75,582,000,000

115,561,000,000

Current Liabilities(*)

47,279,000,000

57,783,000,000

98,207,000,000

Long term liabilities 

Shareholders Funds(*)

28,747,000,000

37,315,000,000

57,820,000,000

 

Current assets & short term investments

62,967,000,000

81,376,000,000

140,229,000,000

Cash & cash equivalents

5,814,000,000

4,414,000,000

22,603,000,000

Cash

5,814,000,000

3,584,000,000

22,383,000,000

Cash equivalents

-

830,000,000

220,000,000

Accounts receivable

18,112,000,000

18,016,000,000

21,265,000,000

Accounts receivable trade

17,959,000,000

16,354,000,000

16,492,000,000

Trade prepayment

34,000,000

1,463,000,000

4,773,000,000

Others receivables

119,000,000

199,000,000

-

I Inventories

34,167,000,000

50,385,000,000

87,232,000,000

II Inventories

34,167,000,000

50,385,000,000

87,232,000,000

I Other short term asset

4,874,000,000

8,561,000,000

9,129,000,000

Prepaid expenses

109,000,000

645,000,000

648,000,000

VAT deductible

2,644,000,000

4,626,000,000

6,024,000,000

II Other short term asset

2,121,000,000

3,290,000,000

2,457,000,000

Long term assets

33,665,000,000

31,521,000,000

33,152,000,000

Fixed assets

27,653,000,000

25,372,000,000

33,152,000,000

Tangible fixed assets

27,653,000,000

25,372,000,000

25,922,000,000

I Cost

33,266,000,000

35,128,000,000

40,055,000,000

I Accumulated depreciation

5,613,000,000

9,756,000,000

14,133,000,000

Intangible fixed assets

-

-

5,200,000,000

II Cost

-

-

5,650,000,000

II Accumulated depreciation

-

-

450,000,000

Construction in progress

-

-

2,030,000,000

Other long term assets

6,012,000,000

6,149,000,000

-

Long term prepayments

6,012,000,000

6,149,000,000

-

Total assets

96,632,000,000

112,897,000,000

173,381,000,000

Liabilities

67,885,000,000

75,582,000,000

115,561,000,000

Current liabilities

47,279,000,000

57,783,000,000

98,207,000,000

Short term borrowings

44,095,000,000

45,577,000,000

60,964,000,000

Accounts payables-trade

1,453,000,000

7,325,000,000

22,605,000,000

Advances from customers

-

2,129,000,000

13,214,000,000

Taxes and payable to state budget

909,000,000

1,903,000,000

2,000,000

Payable to employees

768,000,000

714,000,000

1,130,000,000

Other payables

54,000,000

135,000,000

292,000,000

Long term liabilities

20,606,000,000

17,799,000,000

17,354,000,000

Long term borrowings

20,606,000,000

17,799,000,000

17,354,000,000

I Owners equity

28,747,000,000

37,315,000,000

57,820,000,000

II Owners equity

28,747,000,000

37,315,000,000

57,820,000,000

Business capital

26,400,000,000

29,400,000,000

42,740,000,000

Foreign exchange differences

(30,000,000)

-

-

Retained earnings

2,377,000,000

7,915,000,000

15,080,000,000

Total resources

96,632,000,000

112,897,000,000

173,381,000,000

Note: (*)

Financial Highlights

 

Income Statement

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2011 Annual

2012 Annual

2013 Annual

Turnover(*)

180,904,000,000

252,478,000,000

355,636,000,000

Profit (Loss) Before Tax(*)

1,958,000,000

5,538,000,000

7,164,000,000

Profit After Tax attributable to Shareholders(*)

1,958,000,000

5,538,000,000

7,164,000,000

 

Gross sales

180,904,000,000

252,478,000,000

355,636,000,000

Less deductions

1,650,000,000

5,727,000,000

5,909,000,000

Net income

179,254,000,000

246,751,000,000

349,727,000,000

Cost of goods sold

165,330,000,000

227,900,000,000

321,357,000,000

Gross margin

13,924,000,000

18,851,000,000

28,370,000,000

Income from financial activities

191,000,000

118,000,000

479,000,000

Expenses from financial activities

8,184,000,000

7,951,000,000

8,819,000,000

In which: Interest expenses

7,500,000,000

7,951,000,000

7,126,000,000

Selling expenses

1,520,000,000

2,726,000,000

7,962,000,000

General & administration expenses

2,399,000,000

2,890,000,000

5,050,000,000

Net income from operating activities

2,012,000,000

5,402,000,000

7,018,000,000

Extraordinary income

336,000,000

218,000,000

359,000,000

Extraordinary expenses

390,000,000

82,000,000

213,000,000

Extraordinary gains

(54,000,000)

136,000,000

146,000,000

Net profit before tax

1,958,000,000

5,538,000,000

7,164,000,000

Net profit after tax

1,958,000,000

5,538,000,000

7,164,000,000

Note: (*)

Financial Highlights

 

Financial Ratios

Financial Highlights

2011 Annual

2012 Annual

2013 Annual

Growth % 

Year-on-Year Growth

-

39.56

40.86

Profitability 

Profit Margin (%)

1.08

2.19

2.01

Return on Equity (%)

6.81

14.84

12.39

Return on Assets (%)

2.03

4.91

4.13

Leverage 

Total Debt Equity (Times)

2.36

2.03

2.00

Current Debt Equity (Times)

1.64

1.55

1.70

Long Term Debt to Equity

0.72

0.48

0.30

Total Asset To Total Equity

3.36

3.03

3.00

Asset Management 

Total Assets Turnover (Times)

1.87

2.24

2.05

Fixed Assets Turnover (Times)

5.37

8.01

10.73

Liquidity 

Current Ratio

1.33

1.41

1.43

 

 

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

 

Primary Products

Products / Materials / Services Description

Activity

Angle bars

Manufacturing, Exporting

Flat bars

Manufacturing, Exporting

Hexagonal bars

Manufacturing, Exporting

Industrial pipe

Manufacturing, Exporting

Metal products

Manufacturing, Exporting

 

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Product/Service Description

Code

Activity

Fabricated metal products, nspf

3499

Manufacturing, Exporting

Fabricated structural metal products, nspf

3441

Manufacturing, Exporting

Primary metal products, nspf

3399

Manufacturing, Exporting

Sheet-metal structure parts, nspf

3444

Manufacturing, Exporting

Steel Foundries, NEC

3325

Manufacturing, Exporting

Steel Pipe & Tubes

3317

Manufacturing, Exporting

 

 

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Product/Service Description

Code

Activity

Articles of iron or steel

7326

Manufacturing, Exporting

Miscellaneous articles of base metal

8300

Manufacturing, Exporting

Stainless steel ingots and other primary forms

721810

Manufacturing, Exporting

Structures nesoi & parts thereof, of iron or steel

7308

Manufacturing, Exporting

Tube or pipe fittings, of iron or steel

7307

Manufacturing, Exporting

 

 

 

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Products / Materials / Services Description

Ranking

Activity

Pipes, castings

Primary

Manufacturing, Exporting

Round bars

Primary

Manufacturing, Exporting

Sheets

Primary

Manufacturing, Exporting

Square bar

Primary

Manufacturing, Exporting

Stainless steel coils

Primary

Manufacturing, Exporting

Stainless steel products

Primary

Manufacturing, Exporting

Steel pipes

Primary

Manufacturing, Exporting

Tubes

Primary

Manufacturing, Exporting

Tubes, ornamental

Primary

Manufacturing, Exporting

Wire

Primary

Manufacturing, Exporting

 

 

 

CORE BUSINESS DESCRIPTION

 

 

 

Core Business

 

The primary business focus of OSS DAI DUONG INTERNATIONAL JSC is Manufacturing - Finished products.

Key products include :

Angle bars

Flat bars

Hexagonal bars

Industrial pipe

Metal products

Pipes, castings

Round bars

Sheets

Square bar

Stainless steel coils

Stainless steel products

Steel pipes

Tubes

Tubes, ornamental

Wire

An integral part of the core business includes:

Distribution

 

 

 

Supplementary Business

 

In addition to the core business, OSS DAI DUONG INTERNATIONAL JSC also is engaged in the following areas of business:

Exporting

Exporting - Finished products

Importing

Importing - Raw materials

 

 

 

BRANDS & TRADEMARKS

 

 

 

Brands & Trademarks

Application Category

TAI PHUC DAT

n/a

 

 

 

 

BANK DETAILS

 

 

 

Bank Name

:

JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM

Global Identifier

:

P1072025

Branch

:

Hanoi

Branch Address

:

JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM, BINH TAY

SWIFT Code

:

BFTVVNVX

 

 

 

 

INTERNATIONAL TRADE - Activity & Markets

 

 

 

 

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing, Exporting

Europe

Medium

Exporting

Middle-East

Medium

Exporting

South America

Medium

Exporting

Brazil

Medium

Exporting

China

Medium

Importing

India

Medium

Exporting

Indonesia

Medium

Exporting

Malaysia

Medium

Exporting

Turkey

Medium

Exporting

 

 

 

 

 

OFFICE & FACILITIES

 

 

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

 

Name

:

OSS DAI DUONG INTERNATIONAL JSC - DUC HOA, LONG AN

Primary Use

:

Office & Administration facilities

Address

:

Lot LE4 Rd 2 Xuyen A Industrial Park My Hanh Bac Commune, Duc Hoa, Long An

Country

:

Vietnam

Status

:

Operational

 

 

 

 

 

NOTES & COMMENTS

 

Na

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.64.11

UK Pound

1

Rs.100.32

Euro

1

Rs.72.17

 

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

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%)

 

 

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.