MIRA INFORM REPORT
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Report No. : |
311600 |
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Report Date : |
24.03.2015 |
IDENTIFICATION DETAILS
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Name : |
MINH LONG IMPORT EXPORT CO LTD |
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Registered Office : |
10, Alley 155/116 Truong Chinh Rd Phuong Liet Ward, Thanh Xuan, Hanoi |
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Country : |
Vietnam |
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Date of Incorporation : |
07.03.2013 |
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Legal Form : |
Company Limited |
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Line of Business : |
Manufacturer of Garments & Accessories. |
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No. of Employees : |
6 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 |
REGISTERED
NAME & COMPANY SUMMARY
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Company Details |
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Organization Name |
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MINH LONG IMPORT EXPORT CO LTD |
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Address |
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8Fl Hapulico Complex - Center Bldg 1 Nguyen Huy Tuong St, Thanh Xuan,
Hanoi |
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Country |
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Vietnam |
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Phone (S) |
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[+84] 4-62936058 |
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Email |
: |
minh@viethairs.com |
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Website |
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Primary Business Activity |
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Manufacturer |
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Key Industry |
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Garments & Accessories |
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Key Facts |
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Registered Legal Address |
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10, Alley 155/116 Truong Chinh Rd Phuong
Liet Ward, Thanh Xuan, Hanoi |
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Operational Address |
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8Fl Hapulico Complex - Center Bldg 1
Nguyen Huy Tuong St, Thanh Xuan, Hanoi |
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Issuing Authority |
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Dept. of Planning & Investment - Hanoi |
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License Number |
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0104761947 |
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License Status |
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License exists - Normal. |
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Legal Form - Category |
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Private Company with Limited Liability |
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Legal Form |
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Company Limited |
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Legal Form - Abbreviation |
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CO LTD |
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Operational Status of Business |
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Normal |
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Date of Registration |
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7 Mar, 2013 |
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Employees |
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6 |
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Capital |
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US$ 142,966 |
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Report Details |
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DIRECTORS/MANAGEMENT
Key Person
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Legal Title |
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Managing Director |
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Name |
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Mr. Pham Van Minh |
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Nationality |
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Vietnamese |
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COMPANY
DIRECTORS |
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NEGATIVE
INFORMATION
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REPUTATION |
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Reference checking for the purpose of establishing MINH LONG IMPORT
EXPORT CO LTD's reputation within the respective industry failed to reveal
any adverse information. |
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NEGA-SCAN - ADVERSE DATA MONITORING |
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SHARE
& SHARE CAPITAL INFORMATION
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CAPITAL (Currency: VND - Vietnam Dong) |
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SHAREHOLDERS |
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PAYMENT
INFORMATION
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PAYMENT TERMS |
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Selling |
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Purchasing |
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GROUP
STRUCTURE & AFFILIATED COMPANIES
NA
FINANCIAL
INFORMATION
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FINANCIAL
STATEMENT - DETAILED |
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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
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Today's Exchange rate |
: |
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ADDITIONAL
INFORMATION
Primary Products
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Products / Materials / Services Description |
Activity |
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Hair extensions |
Manufacturing, Exporting |
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Hair products |
Manufacturing, Exporting |
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Human hair products |
Manufacturing, Exporting |
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Wigs |
Manufacturing, Exporting |
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SIC PRODUCT
CLASSIFICATION & ACTIVITY |
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HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY |
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CORE BUSINESS
DESCRIPTION |
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Core Business |
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The primary business focus of MINH LONG IMPORT EXPORT CO LTD is
Manufacturing - Finished products. Hair extensions Hair products Human hair products Wigs An integral part of the core business includes: Distribution |
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Supplementary Business |
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In addition to the core business, MINH LONG IMPORT EXPORT CO LTD also
is engaged in the following areas of business: Exporting Exporting - Finished products |
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DOMESTIC SALES
& PURCHASES |
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BANK DETAILS |
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INTERNATIONAL
TRADE - Activity & Markets |
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OFFICE &
FACILITIES |
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The following information relates to the Business Entity's office as
listed above: |
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PREVIOUS
BUSINESS LICENSE/S |
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NOTES
& COMMENTS
NA
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.29 |
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1 |
Rs.93.02 |
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Euro |
1 |
Rs.67.36 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
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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.