MIRA INFORM REPORT

 

 

Report No. :

350008

Report Date :

19.11.2015

 

IDENTIFICATION DETAILS

 

Name :

DOAN PHAT TRADING CO LTD

 

 

Registered Office :

136 National Highway 1A Tam Binh Ward, Thu Duc, Ho Chi Minh

 

 

Country :

Vietnam

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

14.08.2012

 

 

Legal Form :

Private Company with Limited Liability

 

 

Line of Business :

Trader of Metals & Metal Products.

 

 

No. of Employees :

14

 

 

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 :

Slow but correct

 

 

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

:

DOAN PHAT TRADING CO LTD

Name in Local Language

:

CÔNG TY TNHH THƯƠNG MẠI ĐOÀN PHÁT

Address

:

136 National Highway 1A Tam Binh Ward, Thu Duc, Ho Chi Minh

Country

:

Vietnam

Phone (S)

:

[+84] 8-66838707

Facsimile

:

[+84] 8-54033503

Email

:

doanphatinox@vnn.vn

Website

:

http://inoxdoanphat.com

Primary Business Activity

:

Trader

Key Industry

:

Metals & Metal Products

 

 

Key Facts

Registered Legal Address

:

136 National Highway 1A Tam Binh Ward, Thu Duc, Ho Chi Minh

Operational Address

:

136 National Highway 1A Tam Binh Ward, Thu Duc, Ho Chi Minh

License Status

:

License exists - Normal.

Issuing Authority

:

Dept. of Planning & Investment - Ho Chi Minh

License Number

:

0304906727

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

:

14 Aug, 2012

Employees

:

14

PREVIOUS BUSINESS LICENSE/S

:

License Date

License No.

28 Mar, 2007

4102048592

 

 

DIRECTORS/MANAGEMENT

 

 Key Person

Legal Title

:

Managing Director

Name

:

Mr. Doan Cong Hoang

Nationality

:

Vietnamese

 

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Mr. Doan Cong Hoang

Vietnamese

n/a

-

 

Management Details - 1

Personal Unique Identifier

:

MI03924661

Name

:

Mr. Doan Cong Hoang

Date of Birth

:

18 Dec, 1977

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03924661

Name

:

Mr. Doan Cong Hoang

Date of Birth

:

18 Dec, 1977

 

 

 

NEGATIVE INFORMATION

 

REPUTATION

Reference checking for the purpose of establishing DOAN PHAT TRADING CO LTD'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

 

SHARE & SHARE CAPITAL INFORMATION

 

Capital

:

US$ 91,071

 

CAPITAL (Currency: VND - Vietnam Dong)

Authorized Capital

:

₫ 2,000,000,000

Paid-up Capital

:

₫ 2,000,000,000

 

SHAREHOLDERS

Total number of shareholders

:

2

Total number of shares

:

n/a

 

Currency

:

VND - Vietnam Dong

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

Mr. Doan Cong Hoang

Vietnam

n/a

1,400,000,000

70.00

2

Ms. Phuong Thuy Thi Pham

Vietnam

n/a

600,000,000

30.00

Total

n/a

2,000,000,000

100.00

 

Today's Exchange rate

:

1.00 VND
Vietnam Dong

=

0.000046 USD
United States Dollars

 

 

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

Local Purchases

80%

Imports

20%

 

PAYMENT TERMS

Selling

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~60 days

Purchasing

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~60 days

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

Europe

Medium

Importing

South America

Medium

Importing

Korea, South (Republic of Korea)

Medium

Importing

Peru

Medium

Importing

Spain

Medium

Importing

 

 

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

N/A

 

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

Year

Turnover

Assets

Net Income

2013 Annual (*)

2,730,546

769,344

3,699

 

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

2013 Annual

Current Assets(*)

15,860,000,000

Non Current Assets(*)

364,000,000

Share Capital(*)

2,000,000,000

Other long term assets 

Total Assets(*)

16,224,000,000

Total Liabilities(*)

13,874,000,000

Current Liabilities(*)

13,874,000,000

Long term liabilities 

Shareholders Funds(*)

2,350,000,000

 

Current assets & short term investments

15,860,000,000

Cash & cash equivalents

552,000,000

Cash

552,000,000

Accounts receivable

7,439,000,000

Accounts receivable trade

7,439,000,000

Inventories

6,757,000,000

Other short term asset

1,112,000,000

Prepaid expenses

696,000,000

VAT deductible

416,000,000

Long term assets

364,000,000

Fixed assets

364,000,000

Tangible fixed assets

364,000,000

Cost

418,000,000

Accumulated depreciation

54,000,000

Total assets

16,224,000,000

Liabilities

13,874,000,000

Current liabilities

13,874,000,000

Short term borrowings

5,302,000,000

Accounts payables-trade

8,558,000,000

Taxes and payable to state budget

14,000,000

Owner's equity

2,350,000,000

Business capital

2,000,000,000

Retained earnings

350,000,000

Total resources

16,224,000,000

Note: (*)

Financial Highlights

 

Income Statement

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2013 Annual

Turnover(*)

57,582,000,000

Profit (Loss) Before Tax(*)

78,000,000

Profit After Tax attributable to Shareholders(*)

78,000,000

 

Gross sales

57,582,000,000

Net income

57,582,000,000

Cost of goods sold

56,023,000,000

Gross margin

1,559,000,000

Income from financial activities

7,000,000

Expenses from financial activities

548,000,000

In which: Interest expenses

25,000,000

Selling expenses

346,000,000

General & administration expenses

594,000,000

Net income from operating activities

78,000,000

Net profit before tax

78,000,000

Net profit after tax

78,000,000

Note: (*)

Financial Highlights

 

Financial Ratios

Financial Highlights

2013 Annual

Profitability 

Profit Margin (%)

0.14

Return on Equity (%)

3.32

Return on Assets (%)

0.48

Leverage 

Total Debt Equity (Times)

5.90

Current Debt Equity (Times)

5.90

Total Asset To Total Equity

6.90

Asset Management 

Total Assets Turnover (Times)

3.55

Fixed Assets Turnover (Times)

158.19

Liquidity 

Current Ratio

1.14

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

:

DOAN PHAT TRADING CO LTD

Primary Business Activity

:

Trader

Primary Industry

:

Metals & Metal Products

Office Contact Details

Operating Address

:

136 National Highway 1A Tam Binh Ward, Thu Duc, Ho Chi Minh

Tel

:

[+84] 8-66838707

 

:

[+84] 8-66838676

Fax

:

[+84] 8-54033503

Email

:

doanphatinox@vnn.vn

Website Details

Website

:

http://inoxdoanphat.com

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

:

0304906727

Date of Issuance

:

11 Apr, 2007

 

 Primary Products

Products / Materials / Services Description

Activity

Inox

Importing, Trading

Inox products

Importing, Trading

Pipe

Importing, Trading

Plate inox

Importing, Trading

Stainless steel bars

Importing, Trading

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Fabricated metal products, nspf

3499

Importing, Trading

Iron & steel forgings

3462

Importing, Trading

Primary metal products, nspf

3399

Importing, Trading

Steel Foundries, NEC

3325

Importing, Trading

Steel Pipe & Tubes

3317

Importing, Trading

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Articles of iron or steel

7300

Importing, Trading

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

7221

Importing, Trading

Miscellaneous articles of base metal

8300

Importing, Trading

Other articles of iron or steel

7326908585

Importing, Trading

Stainless steel tube or pipe fittings nesoi

7307290000

Importing, Trading

 

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

Products / Materials / Services Description

Ranking

Activity

Stainless steel coils

Primary

Importing, Trading

 

 

 

 

 

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of DOAN PHAT TRADING CO LTD is Trading - Finished products.

Key products include :

Inox

Inox products

Pipe

Plate inox

Stainless steel bars

Stainless steel coils

Supplementary Business

In addition to the core business, DOAN PHAT TRADING CO LTD also is engaged in the following areas of business:

Importing

Importing - Finished products

 

BANK DETAILS

Bank Name

:

JOINT STOCK COMMERCIAL BANK FOR INVESTMENT & DEVELOPMENT OF VIETNAM

Global Identifier

:

32400483

Branch

:

Hoan Kiem Dist,Hanoi

Branch Address

:

JOINT STOCK COMMERCIAL BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM - TAN BINH

SWIFT Code

:

BIDVVNVX

 

 

 

 

OFFICE & FACILITIES

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

Name

:

DOAN PHAT TRADING CO LTD - THU DUC, HO CHI MINH

Primary Use

:

Office & Administration facilities

Address

:

136 National Highway 1A Tam Binh Ward, Thu Duc, Ho Chi Minh

Country

:

Vietnam

Status

:

Operational

 

NOTES & COMMENTS

 

N/A

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.11

UK Pound

1

Rs.100.51

Euro

1

Rs.70.39

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NIT

 

               

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.