MIRA INFORM REPORT

 

 

Report No. :

343799 

Report Date :

14.10.2015

 

IDENTIFICATION DETAILS

 

Name :

KOBELCO ECO - SOLUTIONS VIET NAM CO LTD (1)

 

 

Registered Office :

Minh Long Tower 17 Ba Huyen Thanh Quan St, District 3, Ho Chi Minh

 

 

Country :

Vietnam

 

 

Financials (as on) :

2015

 

 

Date of Incorporation :

10.05.2013

 

 

Legal Form :

Private Company With Limited Liability

 

 

Line of Business :

Construction & Construction Materials

 

 

No. of Employees :

80

 

 

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

 

Maximum Credit Limit :

USD $300,000

Status :

Good

Payment Behaviour :

No Complaints

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

:

KOBELCO ECO - SOLUTIONS VIET NAM CO LTD (1)

Name in Local Language

:

CÔNG TY TNHH KOBELCO ECO – SOLUTIONS VIỆT NAM

Address

:

Minh Long Tower 17 Ba Huyen Thanh Quan St, District 3, Ho Chi Minh

Country

:

Vietnam

Phone (S)

:

[+84] 8-39330646

Facsimile

:

[+84] 8-39330622

Primary Business Activity

:

Service

Key Industry

:

Construction & Construction Materials

 

Key Facts

Registered Legal Address

:

Phu An Thanh Industrial Zone Lot B35 An Thanh Commune, Ben Luc, Long An

Operational Address

:

Minh Long Tower 17 Ba Huyen Thanh Quan St, District 3, Ho Chi Minh

License Status

:

License exists - Normal.

Issuing Authority

:

ECONOMIC ZONE MANAGEMENT BOARD - Long An

License Number

:

502043000203

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

:

10 May, 2013

Employees

:

80

Capital

:

US$ 1,075,269

PREVIOUS BUSINESS LICENSE/S

:

License Date

License No.

27 Oct, 2010

411043001459

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.

 

 

CREDIT RECOMENDATION

 

Current Credit Limit: USD $300,000 based on 90 days

 

 

DIRECTORS/MANAGEMENT

 

Key Person

Legal Title

:

Managing Director

Name

:

Mr. Toshimichi Takeyama

Nationality

:

Japanese

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Ms. Nguyen Thi Viet Ha

Vietnamese

Chief Accountant

-

 

 

Management Details - 1

Personal Unique Identifier

:

MI03912564

Name

:

Ms. Nguyen Thi Viet Ha

Date of Birth

:

1977

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03912531

Name

:

Mr. Toshimichi Takeyama

Date of Birth

:

1959

 

 

NEGATIVE INFORMATION

 

REPUTATION

Although KOBELCO ECO - SOLUTIONS VIET NAM CO LTD has been recently incorporated, it is owned by KOBELCO ECO-SOLUTIONS CO LTD which is a Public Listed Company in Japan and maintains a good reputation within their industry.

 

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: USD - US Dollar)

Authorized Capital

:

$ 1,075,269

 

SHAREHOLDERS

Total number of shareholders

:

1

Total number of shares

:

n/a

 

Currency

:

USD - US Dollar

 

No.

Shareholders

Country

Shares

Number

Amount (USD)

%

1

KOBELCO ECO-SOLUTIONS CO LTD

Japan

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

 

DOMESTIC SALES & PURCHASES

 

Annual Purchases Analysis

Percentage

Local Purchases

70%

Imports

30%

 

 

PAYMENT TERMS

Purchasing

Type

Terms

Local

Cash on delivery (COD)

Credit - Secured with Post-dated checks 30~60 days

Import

Letter of Credit (At-sight)

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

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

DIRECT / INDIRECT CORPORATE PARENT DETAILS

 

Direct Corporate Parent

:

KOBELCO ECO-SOLUTIONS CO LTD

Global Identifier

:

P0405892

Legal Form Category

:

Public Listed Company

Country

:

Japan

Operational Address

:

1-4-78 Wakinohama-cho Chuo-ku Kobe-shi Hyogo 6510072

Primary Business Activity

:

Manufacturer

 

LOCAL BRANCHES & MANAGEMENT

 

Branch

:

KOBELCO ECO - SOLUTIONS VIET NAM CO LTD - LONG THANH, DONG NAI

Branch Address

:

Long Duc Industrial Zone Lot I-1, Long Thanh, Dong Nai

 

Branch

:

KOBELCO ECO - SOLUTIONS VIET NAM CO LTD - BA DINH, HANOI

Branch Address

:

4 Lieu Giai St, Ba Dinh, Hanoi

 

 

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 Public Listed Company , which is required to disclosure their consolidated financial statements.
Hence the financials listed below are those of the SBE's Direct Corporate Parent - KOBELCO ECO-SOLUTIONS CO LTD

Year

Turnover

Assets

Net Income

2013 Annual  

698,682,566

544,138,860

23,473,411

2014 Annual  

574,947,280

494,626,740

11,109,237

2015 Annual  

554,919,368

471,404,137

13,487,539

 

Sales Trend – Analysis

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

-

-

-

-

-

-

-

-

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

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

 

FINANCIALS - SUMMARY (Currency: USD - US Dollar)

Year

Turnover

Assets

Net Income

2011 Annual

905,372,008

680,476,067

23,881,374

2012 Annual

831,243,433

643,572,680

22,988,908

 

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 Public Listed Company , which is required to disclosure their consolidated financial statements.
Hence the financials listed below are those of the SBE's Direct Corporate Parent - KOBELCO ECO-SOLUTIONS CO LTD

Balance Sheet

Currency

:

JPY

Denomination

:

1

Financial Year Ending

:

March

Financial Highlights

2013 Annual

2014 Annual

2015 Annual

Share Capital(*)

6,020,000,000

6,020,000,000

6,020,000,000

Total Liabilities(*)

36,999,000,000

38,460,000,000

36,693,000,000

Total Reserves(*)

3,326,000,000

3,326,000,000

3,330,000,000

Assets 

Current Assets(*)

38,496,000,000

41,978,000,000

39,316,000,000

Total Assets(*)

56,585,000,000

58,638,000,000

57,879,000,000

Non Current Assets(*)

18,089,000,000

16,660,000,000

18,563,000,000

Liabilities 

Non Current Liabilities(*)

5,342,000,000

5,015,000,000

5,030,000,000

Current Liabilities(*)

31,657,000,000

33,445,000,000

31,663,000,000

Shareholders Funds(*)

19,586,000,000

20,178,000,000

21,186,000,000

Cash & Equivalents

955,000,000

958,000,000

1,530,000,000

Accounts Receivable

31,165,000,000

34,025,000,000

27,962,000,000

Inventories

1,784,000,000

2,198,000,000

1,853,000,000

Deferred Tax Assets

3,091,000,000

2,927,000,000

2,822,000,000

Short-Term Lendings Receivable

755,000,000

752,000,000

3,882,000,000

i.Subtotal

37,750,000,000

40,860,000,000

38,049,000,000

Other Assets

746,000,000

1,118,000,000

1,267,000,000

Total Current Assets

38,496,000,000

41,978,000,000

39,316,000,000

Tangible Fixed Assets

13,617,000,000

12,782,000,000

14,010,000,000

Intangible Fixed Assets

513,000,000

451,000,000

453,000,000

ii.Subtotal

14,130,000,000

13,233,000,000

14,463,000,000

Investment & Other Assets

3,959,000,000

3,427,000,000

4,100,000,000

Total Fixed Assets

18,089,000,000

16,660,000,000

18,563,000,000

i.Pretotal

56,585,000,000

58,638,000,000

57,879,000,000

Total Assets

56,585,000,000

58,638,000,000

57,879,000,000

Accounts Payable

18,922,000,000

14,098,000,000

17,657,000,000

Short-Term Loans

3,266,000,000

8,513,000,000

1,440,000,000

Outstanding Expenses

2,406,000,000

2,070,000,000

2,252,000,000

Allowances For Quality Assurance

2,872,000,000

4,561,000,000

4,091,000,000

Outstanding Taxes

991,000,000

675,000,000

1,802,000,000

Allowance For Construction Losses

318,000,000

344,000,000

390,000,000

iii.Subtotal

28,775,000,000

30,261,000,000

27,632,000,000

Other Current Liabilities

2,882,000,000

3,184,000,000

4,031,000,000

Total Current Liabilities

31,657,000,000

33,445,000,000

31,663,000,000

Long-Term Loans

409,000,000

124,000,000

-

Retirement Benefits

4,055,000,000

4,745,000,000

4,785,000,000

vi.Subtotal

19,586,000,000

20,178,000,000

21,186,000,000

Other Fixed Liabilities

770,000,000

732,000,000

580,000,000

Total Fixed Liabilities

5,342,000,000

5,015,000,000

5,030,000,000

v.Subtotal

36,891,000,000

39,046,000,000

37,028,000,000

Total Liabilities

36,999,000,000

38,460,000,000

36,693,000,000

Shareholders' Equity

19,586,000,000

20,178,000,000

21,186,000,000

Paid In Capital

6,020,000,000

6,020,000,000

6,020,000,000

Capital Reserves

3,326,000,000

3,326,000,000

3,330,000,000

Retained Earnings(Loss)

10,244,000,000

10,836,000,000

11,840,000,000

Treasury Stock

(4,000,000)

(4,000,000)

(4,000,000)

Valuation & Adjustment

99,000,000

(596,000,000)

(425,000,000)

Minority Interests

8,000,000

9,000,000

90,000,000

vii.Subtotal

19,693,000,000

19,591,000,000

20,851,000,000

Total Net Assets

19,693,000,000

19,591,000,000

20,851,000,000

ii.Pretotal

56,585,000,000

58,638,000,000

57,879,000,000

Total Liabilities & Net Assets

56,585,000,000

58,638,000,000

57,879,000,000

Note: (*)

Financial Highlights

 

Income Statement

Currency

:

JPY

Denomination

:

1

Financial Year Ending

:

March

Financial Highlights

2013 Annual

2014 Annual

2015 Annual

Turnover(*)

72,656,000,000

68,160,000,000

68,133,000,000

Profit (Loss) Before Tax(*)

4,045,000,000

2,607,000,000

3,004,000,000

Profit After Tax attributable to Shareholders(*)

2,441,000,000

1,317,000,000

1,656,000,000

Net Sales/Revenue

72,656,000,000

68,160,000,000

68,133,000,000

Cost Of Goods Sold

58,509,000,000

55,608,000,000

55,673,000,000

Gross Profit

14,147,000,000

12,552,000,000

12,460,000,000

Selling, General & Administrative Expenses

10,186,000,000

9,903,000,000

9,438,000,000

Operating Profit(Loss)

3,961,000,000

2,649,000,000

3,022,000,000

Non Operating Income

80,000,000

136,000,000

131,000,000

Non Operating Expenses

123,000,000

178,000,000

149,000,000

Ordinary Profit(Loss)

3,918,000,000

2,607,000,000

3,004,000,000

Special Profit

229,000,000

-

-

Special Loss

102,000,000

-

-

Pretax Profit(Loss)

4,045,000,000

2,607,000,000

3,004,000,000

Provisions For Taxes

1,602,000,000

1,288,000,000

1,352,000,000

Minority Interest

2,000,000

2,000,000

(4,000,000)

Net Profit(Loss)

2,441,000,000

1,317,000,000

1,656,000,000

Note: (*)

Financial Highlights

 

Financial Ratios

Financial Highlights

2013 Annual

2014 Annual

2015 Annual

Growth % 

Year-on-Year Growth

2.05

(6.19)

(0.04)

Profitability 

Profit Margin (%)

3.36

1.93

2.43

Return on Equity (%)

12.46

6.53

7.82

Return on Assets (%)

4.31

2.25

2.86

Leverage 

Total Debt Equity (Times)

1.89

1.91

1.73

Current Debt Equity (Times)

1.62

1.66

1.49

Long Term Debt to Equity

0.27

0.25

0.24

Total Asset To Total Equity

2.89

2.91

2.73

Asset Management 

Total Assets Turnover (Times)

1.28

1.16

1.18

Fixed Assets Turnover (Times)

4.02

4.09

3.67

Liquidity 

Current Ratio

1.22

1.26

1.24

 

 

FOREIGN EXCHANGE RATES

 

N/a

 

 

ADDITIONAL INFORMATION

 

Report Details

Country

:

Vietnam

Business Entity Name

:

KOBELCO ECO - SOLUTIONS VIET NAM CO LTD

Primary Business Activity

:

Service

Primary Industry

:

Construction & Construction Materials

Office Contact Details

Operating Address

:

Minh Long Tower 17 Ba Huyen Thanh Quan St, District 3, Ho Chi Minh

Tel

:

[+84] 8-39330646

Fax

:

[+84] 8-39330622

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

:

0310432024

Date of Issuance

:

4 Nov, 2010

 

Primary Products

Products / Materials / Services Description

Activity

Environment consultancy

Service

General contractors

Service

Sewage construction

Service

Sewage treatment contractor

Service

Waste water construction

Service

 

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Air, Water & Solid Waste Mgt

9511

Service

General Building Contractors

1500

Service

Heavy Construction, NEC

1629

Service

Landscape Plan/Consult

0781

Service

Special Trade Contractors, NEC

1799

Service

Water Supply

4941

Service

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Air, water & solid waste management services

9879

Service

Business development/consulting

9878

Service

General contractor-residential

9813

Service

Heavy construction

9818

Service

Special trade contractors

9831

Service

Water supply

9860

Service

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of KOBELCO ECO - SOLUTIONS VIET NAM CO LTD is Specialized professional services, including:

General contractors


Key services include:

Environment consultancy

Sewage construction

Sewage treatment contractor

Waste water construction

Supplementary Business

In addition to the core business, KOBELCO ECO - SOLUTIONS VIET NAM CO LTD also is engaged in the following areas of business:

Importing

Importing - Finished products

Importing - Raw materials

 

BANK DETAILS

Bank Name

:

MIZUHO CORPORATE BANK LTD, THE

Global Identifier

:

P0220254

Branch

:

District 1,Ho Chi Minh

Branch Address

:

MIZUHO CORPORATE BANK LTD , THE - HO CHI MINH

SWIFT Code

:

This bank does not have a SWIFT Code

 

INTERNATIONAL TRADE - Activity & Markets

 

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing

Europe

Medium

Importing

Japan

Medium

Importing

 

OFFICE & FACILITIES

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

Name

:

KOBELCO ECO - SOLUTIONS VIET NAM CO LTD - DISTRICT 3, HO CHI MINH

Primary Use

:

Office & Administration facilities

Address

:

Minh Long Tower 17 Ba Huyen Thanh Quan St, District 3, Ho Chi Minh

Country

:

Vietnam

Status

:

Operational

 

 

NOTES & COMMENTS

 

N/A

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.02

UK Pound

1

Rs.99.89

Euro

1

Rs.73.92

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

TPT

 

               

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.