MIRA INFORM REPORT

 

 

Report No. :

311187

Report Date :

14.03.2015

 

IDENTIFICATION DETAILS

 

Name :

PHONG VUONG CO LTD

 

 

Registered Office :

Group 14 Quarter II Kim Dong St Hoa Lac Ward, Mong Cai, Quang Ninh

 

 

Country :

Vietnam

 

 

Date of Incorporation :

07.09.2007

 

 

Legal Form :

Company Limited

 

 

Line of Business :

Trader of Frozen meat and Pork

 

 

No of Employees :

30

 

 

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 :

Unknown

 

 

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 Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

B2

Moderate High Risk

 

C1

High Risk

C2

Very High Risk

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

 

Company Details

 

Organization Name

:

PHONG VUONG CO LTD (1)

Address

:

Group 14 Quarter II Kim Dong St Hoa Lac Ward, Mong Cai, Quang Ninh

Country

:

Vietnam

Phone (S)

:

[+84] 33-3789311

Facsimile

:

[+84] 33-3789312

Email

:

phongvuongcompany@gmail.com

Primary Business Activity

:

Trader

Key Industry

:

Food Products

 

Key Facts

 

Registered Legal Address

:

Group 14 Quarter II Kim Dong St Hoa Lac Ward, Mong Cai, Quang Ninh

Operational Address

:

Group 14 Quarter II Kim Dong St Hoa Lac Ward, Mong Cai, Quang Ninh

Issuing Authority

:

Dept. of Planning & Investment - Quang Ninh

License Number

:

5700677357

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

:

7 Sep, 2007

Employees

:

30

Capital

:

US$ 953,107

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. Dao Van Vuong

Nationality

:

Vietnamese

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Mr. Nguyen Van Hai

Vietnamese

Chief Accountant

-

2

Mr. Luu Van

Vietnamese

Deputy Managing Director

-

 

Management Details - 1

Personal Unique Identifier

:

MI03654411

Name

:

Mr. Nguyen Van Hai

 

 

Management Details - 2

Personal Unique Identifier

:

MI03654409

Name

:

Mr. Luu Van

 

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03654386

Name

:

Mr. Dao Van Vuong

Date of Birth

:

1972

 

NEGATIVE INFORMATION

 

REPUTATION

Reference checking for the purpose of establishing PHONG VUONG 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

:

₫ 20,000,000,000

 

SHAREHOLDERS

 

Total number of shareholders

:

3

Total number of shares

:

n/a

 

Currency:  VND – Vietnam Dong

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

Mr. Dao Van Vuong

Vietnam

n/a

n/a

70.00

2

Mr. Nguyen Quang Son

Vietnam

n/a

n/a

20.00

3

Mr. Luu Van

Vietnam

n/a

n/a

10.00

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

International Sales (Export)

100%

 

Annual Purchases Analysis

Percentage

Imports

100%

 

PAYMENT TERMS

Selling

Type

Terms

Export

Letter of Credit (At-sight)

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

 

Purchasing

Type

Terms

Import

Letter of Credit (At-sight)

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

 

INTERNATIONAL TRADE - Activity & Markets

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing, Exporting

China

Medium

Importing, Exporting

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

N/a

 

 

FINANCIAL INFORMATION

 

FINANCIAL STATEMENT – DETAILED

 

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. Therefore no financials are available for this entity.

 

 

FOREIGN EXCHANGE RATES

 

Today's Exchange rate

:

1.00 VND
Vietnam Dong

=

0.000048 USD
United States Dollars

 

ADDITIONAL INFORMATION

 

Report Details

Country

:

Vietnam

Business Entity Name

:

PHONG VUONG CO LTD

Primary Business Activity

:

Trader

Primary Industry

:

Food Products

Office Contact Details

Operating Address

:

Group 14 Quarter II Kim Dong St Hoa Lac Ward, Mong Cai, Quang Ninh

Tel

:

[+84] 33-3789311

Fax

:

[+84] 33-3789312

Email

:

phongvuongcompany@gmail.com

Tax / VAT Details

Local Name Used

:

Gia Trj Gia Tang (Value Added Tax)

Acronym

:

GTGT / VAT

GTGT / VAT Number

:

5700677357

 

Primary Products

Products / Materials / Services Description

Activity

Frozen meat

Trading

Pork

Trading

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Frozen Specialties, NEC

2038

Trading

Meats & Meat Products

5147

Trading

Packaged Frozen Foods

5142

Trading

Tires and inner tubes

3011

Trading

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Meat & edible offal nesoi, fresh, chilled or frozen

0208

Trading

Meat of swine (pork), fresh, chilled or frozen

0203

Trading

New pneumatic tires, of rubber

4011

Trading

Parts & access for motor vehicles (head 8701-8705

8708

Trading

Rubbers & articles thereof

4000

Trading

 

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

Products / Materials / Services Description

Ranking

Activity

Rubber tyres

Secondary

Trading

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of PHONG VUONG CO LTD is Trading - Finished products.

Key products include:

Pork

Frozen meat

 

Supplementary Business

In addition to the core business, PHONG VUONG CO LTD also is engaged in the following areas of business:

Exporting

Exporting - Natural food items, Unprocessed (Meats, Produce or Seafood)

Exporting - Finished products

Importing

Importing - Natural food items, Unprocessed (Meats, Produce or Seafood)

Importing - Finished products

 

BANK DETAILS

Bank Name

:

ASIA COMMERCIAL JOINT STOCK BANK

Global Identifier

:

P0075118

Branch

:

District 3,Ho Chi Minh

Branch Address

:

MONG CAI

SWIFT Code

:

ASCBVNVX

 

Bank Name

:

ASIA COMMERCIAL JOINT STOCK BANK

Global Identifier

:

P0075118

Branch

:

District 3,Ho Chi Minh

Branch Address

:

ASIA COMMERCIAL JOINT STOCK BANK - HAIPHONG

SWIFT Code

:

ASCBVNVX

 

Bank Name

:

JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM

Global Identifier

:

P1072025

Branch

:

Hanoi

Branch Address

:

MONG CAI

SWIFT Code

:

BFTVVNVX

 

REAL ESTATE OWNERSHIP

 

The following property / ies are owned by PHONG VUONG CO LTD :

Property Name

:

PHONG VUONG CO LTD - MONG CAI, QUANG NINH

Type of Property

:

Office & Administration

Address

:

Group 14 Quarter II Kim Dong St Hoa Lac Ward, Mong Cai, Quang Ninh

Office Size

:

300 Square meters

 

NOTES & COMMENTS

 

N/a

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 62.67

UK Pound

1

Rs. 93.16

Euro

1

Rs. 66.42

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

DPT

 

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.