MIRA INFORM REPORT

 

 

Report No. :

351411

Report Date :

30.11.2015

 

IDENTIFICATION DETAILS

 

Name :

BACH PHUONG WOOD CO LTD

 

 

Registered Office :

31/19/190 Lane 190 Hoang Mai St Hoang Van Thu Ward, Hoang Mai Dist, Hanoi

 

 

Country :

Vietnam

 

 

Date of Incorporation :

28.08.2013

 

 

Legal Form :

Private Company with Limited Liability

 

 

Line of Business :

Exporter of Plywood, Timber & Wood Products.

 

 

No. of Employee :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

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

 

Organization Name

:

BACH PHUONG WOOD CO LTD (1)

Name in Local Language

:

CÔNG TY TNHH GỖ BÁCH PHƯƠNG

Address

:

31/19/190 Lane 190 Hoang Mai St Hoang Van Thu Ward, Hoang Mai Dist, Hanoi

Country

:

Vietnam

Primary Business Activity

:

Exporter

Key Industry

:

Plywood, Timber & Wood Products

 

Key Facts

 

Registered Legal Address

:

31/19/190 Lane 190 Hoang Mai St Hoang Van Thu Ward, Hoang Mai Dist, Hanoi

Operational Address

:

31/19/190 Lane 190 Hoang Mai St Hoang Van Thu Ward, Hoang Mai Dist, Hanoi

Trading Name / DBA

:

BACH PHUONG

License Status

 

License exists - Normal.

Issuing Authority

:

DEPARTMENT OF PLANNING & INVESTMENT - Hanoi

License Number

:

0106295018

Legal Form - Category

:

Private Company with Limited Liability

Legal Form

:

Company Limited

Legal Form - Abbreviation

:

CO LTD

Operational Status of Business

:

It was NOT possible to confirm the operational status. (2)

Date of Registration

:

28 Aug, 2013

Capital

 

US$ 132,052

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) Due to the lack of SBE's operational status, and circumstances involved, the information as listed below is only historical / on-file data and as such it has not been possible to verify against any current sources.

 

 

DIRECTORS/MANAGEMENT

 

Key Person

 

Legal Title

:

Managing Director

Name

:

Ms. Ngo Phuong Nga

Nationality

:

Vietnamese

 

 

COMPANY MANAGEMENT

 

Management Listings

 

 

Name

Nationality

Job Description

Dept. / Division

1

Ms. Ngo Phuong Nga

Vietnamese

n/a

-

 

Management Details - 1

Personal Unique Identifier

:

MI03733496

Name

:

Ms. Ngo Phuong Nga

Date of Birth

:

1977

 

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03733496

Name

:

Ms. Ngo Phuong Nga

Date of Birth

:

1977

 

 

NEGATIVE INFORMATION

 

REPUTATION

Due to the prevailing circumstances regarding the status of BACH PHUONG WOOD CO LTD, assessment of reputation is not relevant.

 

 

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

:

₫ 2,900,000,000

 

 

SHAREHOLDERS

Total number of shareholders

:

2

Total number of shares

:

n/a

 

Currency

:

VND - Vietnam Dong

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

Ms. Ngo Phuong Nga

Vietnam

n/a

n/a

75.00

2

Ms. Nguyen Thi Yen

Vietnam

n/a

n/a

25.00

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

 

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

 

N/a

 

 

ADDITIONAL INFORMATION

 

Country

:

Vietnam

Business Entity Name

:

BACH PHUONG WOOD CO LTD

Primary Business Activity

:

Exporter

Primary Industry

:

Plywood, Timber & Wood Products

 

Office Contact Details

 

Operating Address

:

31/19/190 Lane 190 Hoang Mai St Hoang Van Thu Ward, Hoang Mai Dist, Hanoi

 

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

:

0106295018

Date of Issuance

:

28 Aug, 2013

 

 

Primary Products

Products / Materials / Services Description

Activity

Eucalyptus wood

Exporting

Wooden products

Exporting

 

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Lumber and Wood Products

2400

Exporting

Wood products, nspf

2499

Exporting

 

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Articles of wood

4421

Exporting

Wood & articles of wood; wood charcoal

4400

Exporting

 

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of BACH PHUONG WOOD CO LTD is Exporting - Finished products.

Key products include :

Eucalyptus wood

Wooden products


An integral part of the core business includes:

Distribution

 

 

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 - HANOI

SWIFT Code

:

BIDVVNVX

 

COMPANY HISTORY

 

Date

Details

2015 - Nov

As per current investigation, it was confirmed that the mobile number (84-983057687) was used by other person.

 

 

REAL ESTATE OWNERSHIP

 

The following property / ies are owned by BACH PHUONG WOOD CO LTD :

Property Name

:

BACH PHUONG WOOD CO LTD - HOANG MAI DIST, HANOI

Type of Property

:

Office & Administration

Address

:

31/19/190 Lane 190 Hoang Mai St Hoang Van Thu Ward, Hoang Mai Dist, Hanoi

Office Size

:

80 Square meters

 

 

NOTES & COMMENTS

 

N/a

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.75

UK Pound

1

Rs.100.68

Euro

1

Rs.70.88

VND

1

Rs.0.0030

 

 

INFORMATION DETAILS

 

Analysis Done by :

HNA

 

 

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%)

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.