MIRA INFORM REPORT

 

 

Report No. :

348526

Report Date :

16.11.2015

 

IDENTIFICATION DETAILS

 

Name :

VWS VIETNAM LLC

 

 

Registered Office :

Unit 9.2 E Town Bldg 364 Cong Hoa St Ward 13, Tan Binh Dist, Ho Chi Minh

 

 

Country :

Vietnam

 

 

Financials (as on) :

2009

 

 

Date of Incorporation :

23.05.2009

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Service provider of Energy, Power & Utilities.

 

 

No. of Employee :

40

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD $30,000  

 

 

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 – 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. Agriculture's share of economic output has shrunk 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 now account for only about 40% of GDP.

Vietnamese authorities have reaffirmed their commitment to economic modernization and a more open economy. Vietnam joined the World Trade Organization in January 2007, which has promoted more competitive, export-driven industries. Vietnam joined the 12-nation Trans-Pacific Partnership free trade agreement negotiations in 2010.

Hanoi has oscillated between promoting growth and emphasizing macroeconomic stability in recent years. 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. 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.

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 to restructure 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.

 

Source : CIA

 

REGISTERED NAME & COMPANY SUMMARY

 

Company Details

Organization Name

:

VWS VIETNAM LLC (1)

Name in Local Language

:

CÔNG TY TNHH MỘT THÀNH VIÊN GIẢI PHÁP VÀ CÔNG NGHỆ XỬ LƯ NƯỚC VEOLIA VIỆT NAM

Address

:

Unit 9.2 E Town Bldg 364 Cong Hoa St Ward 13, Tan Binh Dist, Ho Chi Minh

Country

:

Vietnam

Phone (S)

:

[+84] 8-38127757

Facsimile

:

[+84] 8-38127759

Primary Business Activity

:

Service

Key Industry

:

Energy, Power & Utilities

 

Key Facts

Registered Legal Address

:

Unit 9.2 E Town Bldg 364 Cong Hoa St Ward 13, Tan Binh Dist, Ho Chi Minh

Operational Address

:

Unit 9.2 E Town Bldg 364 Cong Hoa St Ward 13, Tan Binh Dist, Ho Chi Minh

License Status

:

License exists - Normal.

Issuing Authority

:

People's Committee - Ho Chi Minh

License Number

:

411043001047

Legal Form - Category

:

Private Company with Limited Liability

Legal Form

:

Limited Liability Company

Legal Form - Abbreviation

:

LLC

Operational Status of Business

:

Normal

Date of Registration

:

23 May, 2009

Employees

:

40

Capital

:

n/a (2)

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.

 

(2) Not applicable.
According to the corporate statutory laws for this type of Legal Form - Category(Private Company with Limited Liability) in Vietnam, there is no requirement for Authorized Capital.

 

 

CREDIT LIMIT

Current Credit Limit: USD $30,000  based on  90 days

 

 

DIRECTORS/MANAGEMENT

 

Key Person

Legal Title

:

Managing Director

Name

:

Mr. Germain Patrick

Nationality

:

French

 

 

COMPANY MANAGEMENT

 

 

 

Management Listings

 

 

Name

Nationality

Job Description

Dept. / Division

1

Mr. Germain Patrick

French

n/a

-

 

 

 

Management Details - 1

Personal Unique Identifier

:

MI03922158

Name

:

Mr. Germain Patrick

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03922158

Name

:

Mr. Germain Patrick

 

 

 

NEGATIVE INFORMATION

 

REPUTATION

Reference checking for the purpose of establishing VWS VIETNAM LLC'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

 

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

 

 

 

SHARE & SHARE CAPITAL INFORMATION

 

SHAREHOLDERS

Total number of shareholders

:

1

Total number of shares

:

n/a

 

Currency

:

VND - Vietnam Dong

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

VEOLIA WATER SOLUTIONS & TECHNOLOGIES (SEA) PTE LTD

Singapore

n/a

n/a

100.00

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

 

N/a

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

DIRECT / INDIRECT CORPORATE PARENT DETAILS

 

Direct Corporate Parent

:

VEOLIA WATER SOLUTIONS & TECHNOLOGIES (SEA) PTE LTD

Global Identifier

:

P1392723

Legal Form Category

:

Private Company with Limited Liability

Country

:

Singapore

Operational Address

:

WMX Technologies Bldg 5 Loyang Way 508706

Primary Business Activity

:

Trader

Indirect Corporate Parent

:

VEOLIA WATER SOLUTIONS & TECHNOLOGIES SA

Global Identifier

:

P0866810

Legal Form Category

:

Private Company with Limited Liability

Country

:

France

Operational Address

:

Immeuble L'Aquarene 1 Place Montgolfier St Maurice Cedex 94417

Primary Business Activity

:

Trader

 

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

As a Private Company with Limited Liability in Vietnam, there is no legal requirements for the Subject Business Entity ("SBE") to make any public disclosure of their own financials. However, the SBE is owned by a larger company , which does have disclosed consolidated financials, incorporating the turnover, assets and profits of the SBE.
Hence the financials listed below are those of the SBE's Direct Corporate Parent - VEOLIA WATER SOLUTIONS & TECHNOLOGIES (SEA) PTE LTD.

 

Year

Turnover

Assets

Net Income

2009 Annual  

27,461,329

25,407,786

-307,935

 

FINANCIAL STATEMENT - DETAILED

As a Private Company with Limited Liability in Vietnam, there is no legal requirements for the Subject Business Entity ("SBE") to make any public disclosure of their own financials. However, the SBE is owned by a larger company , which does have disclosed consolidated financials, incorporating the turnover, assets and profits of the SBE.
Hence the financials listed below are those of the SBE's Direct Corporate Parent - VEOLIA WATER SOLUTIONS & TECHNOLOGIES (SEA) PTE LTD.

 

Balance Sheet

Currency

:

SGD

Denomination

:

1

Financial Highlights

2009 Annual

Total Reserves(*)

(28,086,403)

Assets 

Non Current Assets(*)

11,744,169

Current Assets(*)

24,080,809

Total Assets(*)

35,824,978

Equity & Liabilities 

Share Capital(*)

 

Shareholders Funds(*)

17,655,284

Non Current Liabilities(*)

44,818

Current Liabilities(*)

18,124,876

Total Liabilities(*)

18,169,694

Property, Plant and Equipment, Total

5,817,169

Investments in Subsidiaries

5,927,000

Total Non-Current Assets

11,744,169

Inventories

467,663

Trade and Other Receivables, Current

6,306,492

Trade Receivables, Current

6,007,698

Other Receivables, Current

298,794

Contract work-in-progress in excess of progress billing

5,633,065

Prepayment

382,632

Due from subsidiary (non-trade)

37,160

Due from related companies (trade)

1,716,592

Due from related companies (non-trade)

46,769

Loan to holding company

8,993,022

Loan to subsidiary

68,000

Cash and Cash Equivalents

429,414

Total Current Assets

24,080,809

Total Assets

35,824,978

Share Capital

45,741,687

Retained Earnings (Accumulated Losses)

(28,086,403)

Total Equity

17,655,284

Deferred Tax Liabilities

7,000

Lease obligation

25,296

Total Non-Current Liabilities

44,818

Trade and Other Payables, Current

2,956,926

Accrued operating expenses

5,253,425

Progress billings in excess of contract work-in-progress

6,276,681

Provision for warranty

2,206,952

Due to related companies (trade)

329,605

Due to related company (non-trade)

1,075,991

Total Current Liabilities

18,124,876

Total Liabilities

18,169,694

Total Equity and Liabilities

35,824,978

Note: (*)

Financial Highlights

Income Statement

Currency

:

SGD

Denomination

:

1

Financial Highlights

2009 Annual

Turnover(*)

38,720,474

Profit (Loss) Before Tax(*)

(422,541)

Profit After Tax attributable to Shareholders(*)

(434,189)

 

Revenue

38,720,474

Cost of Sales

(31,428,366)

Gross Profit

7,292,108

Interest Income

50,646

Foreign exchange gain

6,704

Other Income

2,151,517

Marketing and Distribution Costs

(3,163,637)

Administrative Expenses

(5,393,671)

Other Expenses

(1,366,208)

Employee Benefits Expense

(1,926,689)

Depreciation and Amortisation Expense

(567,038)

Profit (Loss) Before Tax from Continuing Operations

(422,541)

Income Tax Benefit (Expense)

(11,648)

Profit (Loss) from Continuing Operations, Net of Tax

(434,189)

Profit (Loss) Net of Tax

(434,189)

Profit (Loss) Net of Tax*

(434,189)

Total Comprehensive Income

(434,189)

Note: (*)

Financial Highlights

 

 

 

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

:

VWS VIETNAM LLC

Primary Business Activity

:

Service

Primary Industry

:

Energy, Power & Utilities

Office Contact Details

Operating Address

:

Unit 9.2 E Town Bldg 364 Cong Hoa St Ward 13, Tan Binh Dist, Ho Chi Minh

Tel

:

[+84] 8-38127757

 

:

[+84] 8-38127157

Fax

:

[+84] 8-38127759

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

:

0308866105

 

Primary Products

 

Products / Materials / Services Description

Activity

Waste water treatment

Service

 

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

 

Product/Service Description

Code

Activity

Air, Water & Solid Waste Mgt

9511

Service

 

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Air, water & solid waste management services

9879

Service

 

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of VWS VIETNAM LLC is Specialized professional services, including:

Waste water treatment

 

 

BANK DETAILS

Bank Name

:

HSBC BANK (VIETNAM) LTD

Global Identifier

:

32403760

Branch

:

District 1,Ho Chi Minh

Branch Address

:

HSBC BANK (VIETNAM) LTD - HO CHI MINH

SWIFT Code

:

HSBCVNVX

 

 

INTERNATIONAL TRADE - Activity & Markets

 

 

 

 

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing

Europe

Medium

Importing

France

Medium

Importing

Singapore

Medium

Importing

 

OFFICE & FACILITIES

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

Name

:

VWS VIETNAM LLC - TAN BINH DIST, HO CHI MINH

Primary Use

:

Office & Administration facilities

Address

:

Unit 9.2 E Town Bldg 364 Cong Hoa St Ward 13, Tan Binh Dist, Ho Chi Minh

Country

:

Vietnam

Status

:

Operational

 

 

 

 

NOTES & COMMENTS

 

N/a

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.14

UK Pound

1

Rs.100.55

Euro

1

Rs.71.26

 

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

ANK

 

 

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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