MIRA INFORM REPORT

 

 

Report No. :

343579

Report Date :

10.10.2015

 

IDENTIFICATION DETAILS

 

Name :

ANH PHAT RUBBER CO LTD

 

 

Registered Office :

55/363C Quang Trung St Ward 12, Go Vap, Ho Chi Minh

 

 

Country :

Vietnam

 

 

Financials (as on) :

December 2014

 

 

Date of Incorporation :

04.11.2009

 

 

Legal Form :

Private Company with Limited Liability

 

 

Line of Business :

Trader of Rubber & Products.

 

 

No. of Employee :

6

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

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 WorldTRADE 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 managedCURRENCY, 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 publicINVESTMENT, 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

:

ANH PHAT RUBBER CO LTD (1)

Name in Local Language

:

CTY TNHH CAO SU ANH PHÁT

Address

:

55/363C Quang Trung St Ward 12, Go Vap, Ho Chi Minh

Country

:

Vietnam

Phone (S)

:

[+84] 8-39874043

Facsimile

:

[+84] 8-39874043

Email

:

namduclong@vnn.vn

Website

:

http://www.anpharubber.com 

Primary Business Activity

:

Trader

Key Industry

:

Rubber & Products

 

 

Registered Legal Address

:

55/363C Quang Trung St Ward 12, Go Vap, Ho Chi Minh

Operational Address

:

55/363C Quang Trung St Ward 12, Go Vap, Ho Chi Minh

Trading Name / DBA

:

ANPHA RUBBER

License Status

:

License exists - Normal.

Issuing Authority

:

Dept. of Planning & Investment - Ho Chi Minh

License Number

:

0306002406

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

:

4 Nov, 2009

Employees

:

6

Capital

:

US$ 81,108

PREVIOUS BUSINESS LICENSE/S

:

License Date

License No.

11 Sep, 2008

4102064978

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. Le Van Nam

Nationality

:

Vietnamese

 

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Ms. Truong Thi Thanh Nhan

Vietnamese

Chief Accountant

Finance

2

Mr. Tran Tien Nhat

Vietnamese

Deputy Managing Director

-

 

Management Details - 1

Personal Unique Identifier

:

MI02265070

Name

:

Ms. Truong Thi Thanh Nhan

Date of Birth

:

1973

 

Management Details - 2

Personal Unique Identifier

:

MI02099840

Name

:

Mr. Tran Tien Nhat

Email

:

nhat@anpharubber.com

Mobile No.

:

84-918559329

 

COMPANY DIRECTORS

1

 

 

 

Personal Unique Identifier

:

MI02099836

 

Name

:

Mr. Le Van Nam

 

Email

:

nam@anpharubber.com

Date of Birth

:

1973

Mobile No.

:

84-918152434

 

 

NEGATIVE INFORMATION

 

REPUTATION

Reference checking for the purpose of establishing ANH PHAT RUBBER 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

:

₫ 1,800,000,000

Paid-up Capital

:

₫ 1,800,000,000

 

 

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. Le Van Nam

Vietnam

n/a

1,260,000,000

70.00

2

Ms. Truong Thi Thanh Nhan

Vietnam

n/a

540,000,000

30.00

Total

n/a

1,800,000,000

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)

80%

Domestic Sales

20%

 

Annual Purchases Analysis

Percentage

Local Purchases

100%

 

 

PAYMENT TERMS

Selling

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~60 days

Export

Letter of Credit (At-sight)

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

 

Purchasing

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~60 days

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

LOCAL BRANCHES & MANAGEMENT

Branch

:

ANH PHAT RUBBER CO LTD - GO VAP, HO CHI MINH

Branch Address

:

Rm 102, 1Fl Thanh Phat 1 Bldg 572 Le Quang Dinh St Ward 1, Go Vap, Ho Chi Minh

Branch Tel

:

84-8-39850001

Branch Fax

:

84-8-39850002

 

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

Year

Turnover

Assets

Net Income

2012 Annual  

4,381,200

386,705

7,875

2013 Annual  

5,892,900

1,053,438

26,128

2014 Annual  

5,174,852

541,346

17,452

 

Sales Trend – Analysis

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

-

-

-

-

-

-

-

-

http://www.asiancredit.com/Manage/image/up_arrow_04.gif

http://www.asiancredit.com/Manage/image/down_arrow_04.gif

 

 

FINANCIALS - SUMMARY (Currency: USD - US Dollar)

Year

Turnover

Assets

Net Income

2010 Annual

4,262,750

129,041

23,653

2011 Annual

5,056,457

102,736

26,596

 

 

FINANCIAL STATEMENT - DETAILED

BALANCE SHEET

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2012 Annual

2013 Annual

2014 Annual

Current Assets(*)

7,995,000,000

22,145,000,000

11,393,000,000

Non Current Assets(*)

58,000,000

70,000,000

53,000,000

Non Current Liabilities(*)

0

-

-

Share Capital(*)

1,800,000,000

1,800,000,000

1,800,000,000

Other long term assets 

Total Assets(*)

8,053,000,000

22,215,000,000

11,446,000,000

Total Liabilities(*)

5,748,000,000

19,821,000,000

8,685,000,000

Current Liabilities(*)

5,748,000,000

19,821,000,000

8,685,000,000

Long term liabilities 

Shareholders Funds(*)

2,305,000,000

2,394,000,000

2,761,000,000

 

Current assets & short term investments

7,995,000,000

22,145,000,000

11,393,000,000

Cash & cash equivalents

1,220,000,000

1,820,000,000

1,124,000,000

Cash

1,220,000,000

1,820,000,000

1,124,000,000

Accounts receivable

5,519,000,000

18,043,000,000

8,730,000,000

Accounts receivable trade

5,518,000,000

18,043,000,000

3,361,000,000

Trade prepayment

-

-

5,335,000,000

Others receivables

1,000,000

-

34,000,000

Other short term asset

1,256,000,000

2,282,000,000

1,539,000,000

VAT deductible

1,256,000,000

2,282,000,000

1,539,000,000

Long term assets

58,000,000

70,000,000

53,000,000

Fixed assets

51,000,000

-

-

Tangible fixed assets

51,000,000

-

-

Cost

137,000,000

-

-

Accumulated depreciation

86,000,000

-

-

Other long term assets

7,000,000

70,000,000

53,000,000

Total assets

8,053,000,000

22,215,000,000

11,446,000,000

Liabilities

5,748,000,000

19,821,000,000

8,685,000,000

Current liabilities

5,748,000,000

19,821,000,000

8,685,000,000

Short term borrowings

5,294,000,000

18,728,000,000

5,241,000,000

Accounts payables-trade

391,000,000

16,000,000

82,000,000

Taxes and payable to state budget

63,000,000

79,000,000

89,000,000

Other payables

-

998,000,000

3,273,000,000

Owner's equity

2,305,000,000

2,394,000,000

2,761,000,000

Business capital

1,800,000,000

1,800,000,000

1,800,000,000

Retained earnings

505,000,000

594,000,000

961,000,000

Total resources

8,053,000,000

22,215,000,000

11,446,000,000

Note: (*)

Financial Highlights

 

INCOME STATEMENT

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2012 Annual

2013 Annual

2014 Annual

Turnover(*)

91,237,000,000

124,270,000,000

109,415,000,000

Profit (Loss) Before Tax(*)

199,000,000

551,000,000

473,000,000

Profit After Tax attributable to Shareholders(*)

164,000,000

551,000,000

369,000,000

 

Gross sales

91,237,000,000

124,270,000,000

109,415,000,000

Net income

91,237,000,000

124,270,000,000

109,415,000,000

Cost of goods sold

90,073,000,000

121,938,000,000

107,065,000,000

Gross margin

1,164,000,000

2,332,000,000

2,350,000,000

Income from financial activities

58,000,000

481,000,000

287,000,000

Expenses from financial activities

238,000,000

351,000,000

374,000,000

In which: Interest expenses

223,000,000

282,000,000

262,000,000

General & administration expenses

785,000,000

1,910,000,000

1,790,000,000

Net income from operating activities

199,000,000

552,000,000

473,000,000

Extraordinary expenses

-

1,000,000

-

Extraordinary gains

-

(1,000,000)

-

Net profit before tax

199,000,000

551,000,000

473,000,000

Income tax

35,000,000

-

104,000,000

Net profit after tax

164,000,000

551,000,000

369,000,000

Note: (*)

Financial Highlights

 

FINANCIAL RATIOS

Financial Highlights

2012 Annual

2013 Annual

2014 Annual

Growth % 

Year-on-Year Growth

(13.38)

36.21

(11.95)

Profitability 

Profit Margin (%)

0.18

0.44

0.34

Return on Equity (%)

7.11

23.02

13.36

Return on Assets (%)

2.04

2.48

3.22

Leverage 

Total Debt Equity (Times)

2.49

8.28

3.15

Current Debt Equity (Times)

2.49

8.28

3.15

Total Asset To Total Equity

3.49

9.28

4.15

Asset Management 

Total Assets Turnover (Times)

11.33

5.59

9.56

Fixed Assets Turnover (Times)

1,573.05

1,775.29

2,064.43

Liquidity 

Current Ratio

1.39

1.12

1.31

 

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

=

0.000045 USD
United States Dollars

 

 

ADDITIONAL INFORMATION

 

Country

:

Vietnam

Business Entity Name

:

ANH PHAT RUBBER CO LTD

Primary Business Activity

:

Trader

Primary Industry

:

Rubber & Products

 

Office Contact Details

Operating Address

:

55/363C Quang Trung St Ward 12, Go Vap, Ho Chi Minh

Tel

:

[+84] 8-39874043

Fax

:

[+84] 8-39874043

Email

:

namduclong@vnn.vn
info@anpharubber.com

 

Website Details

Website

:

http://www.anpharubber.com

Status

:

Normal - operational

 

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

:

0306002406

Date of Issuance

:

23 Sep, 2008

 

 

Primary Products

Products / Materials / Services Description

Activity

Agricultural materials

Trading, Exporting

Natural rubber

Trading, Exporting

Rubber products

Trading, Exporting

 

 

International Trade - Statistics  (Currency: USD - US Dollar)

Year

Imports

Exports

Total

2012

n/a

3,504,960

3,504,960

2013

n/a

4,714,320

4,714,320

2014

n/a

4,139,882

4,139,882

 

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Fabricated rubber products, nspf

3069

Trading, Exporting

Farm-Prdt Raw Materials, NEC

5159

Trading, Exporting

 

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Natural rubber, balata, chicle etc, prim form etc

4001

Trading, Exporting

Oil seeds/misc. grains/med. plants/straw

1200

Trading, Exporting

Rubbers & articles thereof

4000

Trading, Exporting

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of ANH PHAT RUBBER CO LTD is Trading - Finished products.

Key products include :

Rubber products

Agricultural materials

Natural rubber

 

Supplementary Business

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

Exporting

Exporting - Finished products

 

BANK DETAILS

Bank Name

:

ASIA COMMERCIAL JOINT STOCK BANK

Global Identifier

:

P0075118

Branch

:

District 3,Ho Chi Minh

Branch Address

:

ASIA COMMERCIAL BANK - HO CHI MINH

SWIFT Code

:

ASCBVNVX

 

INTERNATIONAL TRADE - Statistics (Currency: USD - US Dollar)

Year

Imports

Exports

Total

2010

n/a

3,410,200

3,410,200

2011

n/a

4,045,166

4,045,166

 

INTERNATIONAL TRADE - Activity & Markets

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Exporting

Europe

Medium

Exporting

China

Medium

Exporting

Croatia

Medium

Exporting

Hong Kong

Medium

Exporting

Indonesia

Medium

Exporting

Italy

Medium

Exporting

Korea, South (Republic of Korea)

Medium

Exporting

Malaysia

Medium

Exporting

Poland

Medium

Exporting

Portugal

Medium

Exporting

Russia

Medium

Exporting

Singapore

Medium

Exporting

Slovakia

Medium

Exporting

Spain

Medium

Exporting

Taiwan

Medium

Exporting

 

OFFICE & FACILITIES

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

Name

:

ANH PHAT RUBBER CO LTD - GO VAP, HO CHI MINH

Primary Use

:

Office & Administration facilities

Address

:

55/363C Quang Trung St Ward 12, Go Vap, Ho Chi Minh

Country

:

Vietnam

Status

:

Operational

 

 

NOTES & COMMENTS

 

N/a

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.64.78

UK Pound

1

Rs.99.54

Euro

1

Rs.73.08

 

 

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%)

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.