MIRA INFORM REPORT

 

 

Report No. :

344871

Report Date :

16.10.2015

 

IDENTIFICATION DETAILS

 

Name :

DEVYT TRADING AND LOGISTICS CO LTD

 

 

Registered Office :

T Fl 5 Dao Duy Anh Phuong Lien Ward, Dong Da, Hanoi

 

 

Country :

Vietnam

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

21.10.2011

 

 

Legal Form :

Company Limited

 

 

Line of Business :

Providing Transportation Service

 

 

No. of Employees :

60

 

 

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 :

No Complaint

 

 

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

:

DEVYT TRADING AND LOGISTICS CO LTD (1)

Name in Local Language

:

T Fl 5 Dao Duy Anh Phuong Lien Ward, Dong Da, Hanoi

Address

:

Rm 1307 M3-M4 Bldg, Dong Da, Hanoi

Country

:

Vietnam

Phone (S)

:

[+84] 4-62750173

[+84] 4-62750171

[+84] 4-35771536

Facsimile

:

[+84] 4-35771645

[+84] 4-62750199

Trading Name / DBA

 

DEVYT TRADING

 

Email

:

n/a

Website

:

n/a

Primary Business Activity

:

Service

Key Industry

:

Transportation

 

Key Facts

Registered Legal Address

:

T Fl 5 Dao Duy Anh Phuong Lien Ward, Dong Da, Hanoi

 

Operational Address

:

CÔNG TY TNHH THƯƠNG MẠI VÀ KHO VẬN DEVYT

 

Name History

:

 

 

Issuing Authority

:

DEPARTMENT OF PLANNING & INVESTMENT - Hanoi

 

License Number

:

0104191408

 

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

:

21 Oct, 2011

 

Employees

:

60

 

Capital

:

US$ 1,577,095

 

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. Pham Trung Thanh

Nationality

:

Vietnamese

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Mr. Duong Van Nguyen

Vietnamese

Chief Accountant

-

 

Management Details - 1

Personal Unique Identifier

:

MI03849038

Name

:

Mr. Duong Van Nguyen

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03848995

Name

:

Mr. Pham Trung Thanh

Date of Birth

:

1959

 

 

NEGATIVE INFORMATION

 

REPUTATION

Reference checking for the purpose of establishing DEVYT TRADING AND LOGISTICS 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

:

₫ 35,000,000,000

Paid-up Capital

:

₫ 35,000,000,000

 

SHAREHOLDERS

Total number of shareholders

:

1

Total number of shares

:

n/a

 

Currency

:

VND - Vietnam Dong

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

DEVYT JSC

Vietnam

n/a

35,000,000,000

100.00

Total

n/a

35,000,000,000

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

 

No Complaint

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

DIRECT / INDIRECT CORPORATE PARENT DETAILS

Direct Corporate Parent

:

DEVYT JSC

Global Identifier

:

P3255046

Legal Form Category

:

Joint Stock Company

Country

:

Vietnam

Operational Address

:

Tang T Nha So 5 Pho Dao Duy Anh Phuong Phuong Lien Quan Dong Da Hanoi

Primary Business Activity

:

Service

 

LOCAL BRANCHES & MANAGEMENT

Branch

:

DEVYT TRADING AND LOGISTICS CO LTD - MONG CAI, QUANG NINH

Branch Address

:

Group 1 Ha Long Area Ninh Duong Ward, Mong Cai, Quang Ninh

 

Branch

:

DEVYT TRADING AND LOGISTICS CO LTD - PHU NINH DIST, PHU THO

Branch Address

:

Area 9 Phong Chau Town, Phu Ninh Dist, Phu Tho

 

Branch

:

DEVYT TRADING AND LOGISTICS CO LTD - HAI AN DIST, HAIPHONG

Branch Address

:

459 Da Nang St Dong Hai 1 Ward, Hai An Dist, Haiphong

 

Branch

:

DEVYT TRADING AND LOGISTICS CO LTD - HAI PHONG

Branch Address

:

388 Le Thanh Tong, Hai Phong

 

Branch

:

DEVYT TRADING AND LOGISTICS CO LTD - CAO LOC, LANG SON

Branch Address

:

Dong Dang Bus, Cao Loc, Lang Son

 

Branch

:

DEVYT TRADING AND LOGISTICS CO LTD - MONG CAI, QUANG NINH

Branch Address

:

Ninh Duong Industrial Zone Ninh Duong Ward, Mong Cai, Quang Ninh

 

 

FINANCIAL INFORMATION

 

FINANCIALS - SUMMARY (Currency: USD - US Dollar)

Year

Turnover

Assets

Net Income

2011 Annual

71,677,676

4,750,744

204,033

 

FINANCIAL STATEMENT - DETAILED

Balance Sheet

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2012 Annual

2013 Annual

2014 Annual

Current Assets(*)

140,466,000,000

211,734,000,000

234,977,000,000

Non Current Assets(*)

28,614,000,000

26,410,000,000

41,583,000,000

Non Current Liabilities(*)

87,000,000

1,935,000,000

16,253,000,000

Share Capital(*)

35,000,000,000

35,000,000,000

35,000,000,000

Other long term assets 

Total Assets(*)

169,080,000,000

238,144,000,000

276,560,000,000

Total Liabilities(*)

129,933,000,000

202,536,000,000

239,882,000,000

Current Liabilities(*)

129,846,000,000

200,601,000,000

223,629,000,000

Long term liabilities 

Shareholders Funds(*)

39,147,000,000

35,608,000,000

36,678,000,000

 

Current Assets & Short Term Investments

140,466,000,000

211,734,000,000

234,977,000,000

Cash & Cash Equivalents

30,785,000,000

18,785,000,000

73,580,000,000

Cash

30,785,000,000

2,977,000,000

73,580,000,000

Cash Equivalents

-

15,808,000,000

-

Accounts Receivable

54,109,000,000

92,215,000,000

74,442,000,000

Accounts Receivable Trade

48,343,000,000

18,674,000,000

67,105,000,000

Trade Prepayment

5,740,000,000

67,283,000,000

1,040,000,000

Inter Company Receivables

22,000,000

-

-

Others Receivables

4,000,000

6,258,000,000

6,297,000,000

i. Inventories

35,761,000,000

69,922,000,000

44,570,000,000

ii. Inventories

35,761,000,000

69,922,000,000

44,570,000,000

i. Other Short Term Asset

19,811,000,000

30,812,000,000

42,385,000,000

Prepaid Expenses

33,000,000

1,072,000,000

685,000,000

Vat Deductible

3,491,000,000

-

-

Other Tax Receivables

-

7,992,000,000

16,538,000,000

ii. Other Short Term Asset

16,287,000,000

21,748,000,000

25,162,000,000

Long Term Assets

28,614,000,000

26,410,000,000

41,583,000,000

Fixed Assets

27,871,000,000

26,257,000,000

41,196,000,000

Tangible Fixed Assets

13,795,000,000

10,417,000,000

14,710,000,000

i. Cost

22,526,000,000

22,526,000,000

30,629,000,000

Accumulated Depreciation

8,731,000,000

12,109,000,000

15,919,000,000

Finance Lease Assets

-

14,076,000,000

-

ii. Cost

-

14,076,000,000

-

Intangible Fixed Assets

14,076,000,000

-

17,095,000,000

iii. Cost

14,076,000,000

-

17,095,000,000

Construction In Progress

-

1,764,000,000

9,391,000,000

Other Long Term Assets

743,000,000

153,000,000

387,000,000

Long Term Prepayments

743,000,000

153,000,000

387,000,000

Total Assets

169,080,000,000

238,144,000,000

276,560,000,000

Liabilities

129,933,000,000

202,536,000,000

239,882,000,000

Current Liabilities

129,846,000,000

200,601,000,000

223,629,000,000

Short Term Borrowings

81,006,000,000

107,793,000,000

110,051,000,000

Accounts Payables-Trade

18,686,000,000

59,082,000,000

49,243,000,000

Advances From Customers

30,126,000,000

26,400,000,000

53,957,000,000

Taxes And Payable To State Budget

1,537,000,000

1,241,000,000

2,190,000,000

Payable To Employees

571,000,000

527,000,000

637,000,000

Accrued Expenses Payable

563,000,000

250,000,000

90,000,000

Inter Company Payable

(3,000,000,000)

-

-

Other Payables

357,000,000

5,308,000,000

7,012,000,000

Bonus And Welfare Funds

151,000,000

102,000,000

449,000,000

Long Term Liabilities

87,000,000

1,935,000,000

16,253,000,000

Long Term Borrowings

87,000,000

1,935,000,000

16,253,000,000

i. Owner's Equity

39,147,000,000

35,608,000,000

36,678,000,000

ii. Owner's Equity

38,996,000,000

35,506,000,000

36,678,000,000

Business Capital

35,000,000,000

35,000,000,000

35,000,000,000

Revaluation Differences

5,000,000

-

-

Business Development Funds

337,000,000

337,000,000

1,119,000,000

Financial Reserved Funds

169,000,000

169,000,000

559,000,000

Retained Earnings

3,485,000,000

-

-

Budget Sources

151,000,000

102,000,000

-

Total Resources

169,080,000,000

238,144,000,000

276,560,000,000

Note: (*)

Financial Highlights

 

Income Statement

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2012 Annual

2013 Annual

2014 Annual

Turnover(*)

1,466,948,000,000

918,943,000,000

553,474,000,000

Profit (Loss) Before Tax(*)

3,533,000,000

6,424,000,000

10,022,000,000

Profit After Tax attributable to Shareholders(*)

3,485,000,000

5,159,000,000

7,817,000,000

 

Gross Sales

1,466,948,000,000

918,943,000,000

553,474,000,000

Less Deductions

48,000,000

-

27,060,000,000

Net Income

1,466,900,000,000

918,943,000,000

526,414,000,000

Cost Of Goods Sold

1,416,107,000,000

865,431,000,000

471,013,000,000

Gross Margin

50,793,000,000

53,512,000,000

55,401,000,000

Income From Financial Activities

2,901,000,000

2,134,000,000

1,258,000,000

Expenses From Financial Activities

11,026,000,000

8,130,000,000

8,552,000,000

In Which: Interest Expenses

10,902,000,000

7,294,000,000

8,056,000,000

Selling Expenses

35,254,000,000

35,931,000,000

33,917,000,000

General & Administration Expenses

4,178,000,000

5,298,000,000

5,721,000,000

Net Income From Operating Activities

3,236,000,000

6,287,000,000

8,469,000,000

Extraordinary Income

454,000,000

137,000,000

1,560,000,000

Extraordinary Expenses

157,000,000

-

6,000,000

Extraordinary Gains

297,000,000

137,000,000

1,554,000,000

Net Profit Before Tax

3,533,000,000

6,424,000,000

10,022,000,000

Income Tax

48,000,000

1,265,000,000

2,205,000,000

Net Profit After Tax

3,485,000,000

5,159,000,000

7,817,000,000

Note: (*)

Financial Highlights

 

Financial Ratios

Financial Highlights

2012 Annual

2013 Annual

2014 Annual

Growth % 

Year-on-Year Growth

(1.75)

(37.36)

(39.77)

Profitability 

Profit Margin (%)

0.24

0.56

1.41

Return on Equity (%)

8.90

14.49

21.31

Return on Assets (%)

2.06

2.17

2.83

Leverage 

Total Debt Equity (Times)

3.32

5.69

6.54

Current Debt Equity (Times)

3.32

5.63

6.10

Long Term Debt to Equity

0.00

0.05

0.44

Total Asset To Total Equity

4.32

6.69

7.54

Asset Management 

Total Assets Turnover (Times)

8.68

3.86

2.00

Fixed Assets Turnover (Times)

51.27

34.80

13.31

Liquidity 

Current Ratio

1.08

1.06

1.05

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

 

Report Details

Country

:

Vietnam

Business Entity Name

:

DEVYT TRADING AND LOGISTICS CO LTD

Primary Business Activity

:

Service

Primary Industry

:

Transportation

Office Contact Details

Operating Address

:

Rm 1307 M3-M4 Bldg, Dong Da, Hanoi

Tel

:

[+84] 4-62750173

Fax

:

[+84] 4-35771645

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

:

0104191408

Date of Issuance

:

5 Oct, 2009

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Arrange Trans Freight/Cargo

4731

Service

Business Svcs, NEC

7389

Service

General Warehousing & Storage

4225

Service

Refrigerated Warehouse/Storage

4222

Service

Transportation Svcs, NEC

4789

Service

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Business services, health, financial/insur. legal/real estate, hotels, and misc repairs

9900

Service

Freight transportation arrangement, nvocc, customs brokerage

9852

Service

General warehousing and storage

9838

Service

Refrigerated warehousing and storage

9837

Service

 

CORE BUSINESS DESCRIPTION

 

Core Business

The primary business focus of DEVYT TRADING AND LOGISTICS CO LTD is Specialized professional services, including:

Logistics


Key services include :

Transportation

Warehousing

Import-export services

Warehousing & storage

 

BANK DETAILS

 

Bank Name

:

JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM

Global Identifier

:

32400479

Branch

:

Hoan Kiem,Hanoi

Branch Address

:

JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM - BA DINH

SWIFT Code

:

BFTVVNVX

 

Bank Name

:

VIETNAM BANK FOR AGRICULTURE & RURAL DEVELOPMENT

Global Identifier

:

32408794

Branch

:

Tu Liem,Hanoi

Branch Address

:

VIETNAM BANK FOR AGRICULTURE

SWIFT Code

:

VBAAVNVX

 

OFFICE & FACILITIES

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

Name

:

DEVYT TRADING AND LOGISTICS CO LTD - DONG DA, HANOI

Primary Use

:

Office & Administration facilities

Address

:

Rm 1307 M3-M4 Bldg, Dong Da, Hanoi

Country

:

Vietnam

Status

:

Operational

 

 

NOTES & COMMENTS

 

N/a

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.64.82

UK Pound

1

Rs.100.41

Euro

1

Rs.74.50

 

INFORMATION DETAILS

 

Analysis Done by :

KAS

 

 

Report Prepared by :

VNT

 

               

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.