MIRA INFORM REPORT

 

 

Report No. :

338697

Report Date :

09.09.2015

 

IDENTIFICATION DETAILS

 

Name :

LE PHAM SHIPPING CO LTD

 

 

Registered Office :

508 Le Thanh Tong St Van My Ward, Ngo Quyen Dist, Haiphong

 

 

Country :

Vietnam

 

 

Date of Incorporation :

21.11.2000

 

 

Legal Form :

Private Company with Limited Liability

 

 

Line of Business :

Trader of Chemicals.

 

 

No. of Employees :

70

 

 

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 :

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

 

Company Details

Organization Name

:

LE PHAM SHIPPING CO LTD

Name in Local Language

:

CÔNG TY TRÁCH NHIỆM HỮU HẠN LÊ PHẠM

Address

:

508 Le Thanh Tong St Van My Ward, Ngo Quyen Dist, Haiphong

Country

:

Vietnam

Phone (S)

:

[+84] 31-3750205

Facsimile

:

[+84] 31-3750109

Email

:

lpgroup@lpgroup.vn

Website

:

http://www.lpgroup.vn

Primary Business Activity

:

Trader

Key Industry

:

Chemicals

 

Key Facts

Registered Legal Address

:

508 Le Thanh Tong St Van My Ward, Ngo Quyen Dist, Haiphong

Operational Address

:

508 Le Thanh Tong St Van My Ward, Ngo Quyen Dist, Haiphong

Trading Name / DBA

:

LP SHIPPING CO LTD

License Status

 

License exists - Normal.

Issuing Authority

:

Dept. of Planning & Investment - Hai Phong

License Number

:

0200410388

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 Nov, 2000

Employees

:

70

Capital

 

n/a (1)

Note

:

1) Not applicable.
According to the corporate statutory laws for this type of Legal Form - Category(Private Company with Limited Liability) in Vietnam, there is no requirement for Authorized Capital.

 

 

DIRECTORS/MANAGEMENT

 

 Key Person

Legal Title

:

Managing Director

Name

:

Mr. Le Ngoc Duc

Nationality

:

Vietnamese

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Mr. Dang Xuan Hoang

Vietnamese

Deputy Managing Director

-

 

Management Details - 1

Personal Unique Identifier

:

MI03897127

Name

:

Mr. Dang Xuan Hoang

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03897130

Name

:

Mr. Le Ngoc Duc

 

NEGATIVE INFORMATION

REPUTATION

Reference checking for the purpose of establishing LE PHAM SHIPPING 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)

Paid-up Capital

:

₫ 19,964,000,000

 

SHAREHOLDERS

Total number of shareholders

:

5

Total number of shares

:

n/a

 

Currency

:

VND - Vietnam Dong

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

Mr. Le Ngoc Duc

Vietnam

n/a

12,561,348,800

62.92

2

Mr. Do Thi Hue

Vietnam

n/a

7,181,050,800

35.97

3

Mr. Dang Xuan Hoang

Vietnam

n/a

101,816,400

0.51

4

Mr. Du Van Manh

Vietnam

n/a

69,874,000

0.35

5

Mr. Do Thi Huyen

Vietnam

n/a

49,910,000

0.25

Total

n/a

19,964,000,000

100.00

 

Today's Exchange rate

:

1.00 VND
Vietnam Dong

=

0.000045 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

China

Medium

Importing

Malaysia

Medium

Importing

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

STRATEGIC PARTNER/S & ALLIANCES

Group / Alliance name

:

LP GROUP

 

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

 

Today's Exchange rate

:

1.00 VND
Vietnam Dong

=

0.000045 USD
United States Dollars

 

 

 

ADDITIONAL INFORMATION

 

Report Details

Country

:

Vietnam

Business Entity Name

:

LE PHAM SHIPPING CO LTD

Primary Business Activity

:

Trader

Primary Industry

:

Chemicals

Office Contact Details

Operating Address

:

508 Le Thanh Tong St Van My Ward, Ngo Quyen Dist, Haiphong

Tel

:

[+84] 31-3750205

Fax

:

[+84] 31-3750109

Email

:

lpgroup@lpgroup.vn

Website Details

Website

:

http://www.lpgroup.vn

Status

:

Registered but not 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

:

0200410388

 

 

Primary Products

Products / Materials / Services Description

Activity

Calcium carbonate powder

Importing, Trading

Chemicals

Importing, Trading

Limestone

Importing, Trading

Quick lime lump

Importing, Trading

Quicklime

Importing, Trading

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Arrange Trans Freight/Cargo

4731

Service

Chemicals/Allied Prdts, NEC

5169

Importing, Trading

Crushed, broken limestone

1422

Importing, Trading

Cut stone and stone products

3281

Importing, Trading

Lime

3274

Importing, Trading

Local Trucking With Storage

4214

Service

Local Trucking Without Storage

4212

Service

Water Freight Transport, NEC

4449

Service

 

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Calcium carbonate

2836500000

Importing, Trading

Deep sea foreign freight transportation of freight

9841

Service

Freight transportation arrangement, nvocc, customs brokerage

9852

Service

Limestone, crushed or broken

2517100010

Importing, Trading

Local trucking with storage

9834

Service

Local trucking, without storage

9832

Service

Miscellaneous chemical products

3800

Importing, Trading

Quicklime

2522100000

Importing, Trading

 

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

Products / Materials / Services Description

Ranking

Activity

Local trucking

Secondary

Service

Logistic services

Secondary

Service

Maritime

Secondary

Service

 

 

 

 

 

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of LE PHAM SHIPPING CO LTD is Trading - Finished products.

Key products include :

Calcium carbonate powder

Chemicals

Limestone

Quick lime lump

Quicklime

Supplementary Business

In addition to the core business, LE PHAM SHIPPING CO LTD also is engaged in the following areas of business:

Importing

Importing - Finished products

Service

Specialized professional services, including:

Logistic services

Trucking

 

OFFICE & FACILITIES

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

Name

:

LE PHAM SHIPPING CO LTD - NGO QUYEN DIST, HAIPHONG

Primary Use

:

Office & Administration facilities

Address

:

508 Le Thanh Tong St Van My Ward, Ngo Quyen Dist, Haiphong

Country

:

Vietnam

Status

:

Operational

 

NOTES & COMMENTS

 

N/A

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.61

UK Pound

1

Rs.102.30

Euro

1

Rs.74.61

 

 

 

 

 

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.