MIRA INFORM REPORT

 

 

Report No. :

339474

Report Date :

11.09.2015

 

IDENTIFICATION DETAILS

 

Name :

TRI NGUYEN VI NA JSC

 

 

Registered Office :

771/23 Rd 5 An Phu Ward, District 2, Ho Chi Minh

 

 

Country :

Vietnam

 

 

Financials (as on) :

December 2013

 

 

Date of Incorporation :

15.01.2009

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Trader of Plywood, Timber & Wood Products.

 

 

No. of Employee :

15

 

 

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 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

:

TRI NGUYEN VI NA JSC (1)

Name in Local Language

:

CTY CỔ PHẦN TRÍ NGUYÊN VI NA

Address

:

771/23 Rd 5 An Phu Ward, District 2, Ho Chi Minh

Country

:

Vietnam

Phone (S)

:

[+84] 8-39756403

Facsimile

:

[+84] 8-39756402

Email

:

info@tringuyenvina.com

Website

:

http://www.tringuyenvina.com

Primary Business Activity

:

Trader

Key Industry

:

Plywood, Timber & Wood Products

 

 

Key Facts

 

Registered Legal Address

:

771/23 Rd 5 An Phu Ward, District 2, Ho Chi Minh

Operational Address

:

771/23 Rd 5 An Phu Ward, District 2, Ho Chi Minh

License Status

 

License exists - Normal.

Issuing Authority

:

Dept. of Planning & Investment - Ho Chi Minh

License Number

:

4103012265

Legal Form - Category

:

Joint Stock Company

Legal Form

:

Joint Stock Company

Legal Form - Abbreviation

:

JSC

Operational Status of Business

:

Normal

Date of Registration

:

15 Jan, 2009

Employees

:

15

Capital

 

US$ 90,214

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.

 

 

Report Details

 

 

Country

:

Vietnam

Business Entity Name

:

TRI NGUYEN VI NA JSC

Primary Business Activity

:

Trader

Primary Industry

:

Plywood, Timber & Wood Products

Office Contact Details

Operating Address

:

771/23 Rd 5 An Phu Ward, District 2, Ho Chi Minh

Tel

:

[+84] 8-39756403

Fax

:

[+84] 8-39756402

Email

:

info@tringuyenvina.com

Website Details

Website

:

http://www.tringuyenvina.com

Status

:

Normal - operational

Country of Registration

:

Vietnam

Ownership Type

:

Registered ownership by Subject Business Entity

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

:

0306681807

Date of Issuance

:

24 Jan, 2009

 

 

 

DIRECTORS/MANAGEMENT

 

Key Person

 

Legal Title

:

Managing Director

Name

:

Mr. Vo Hong Nguyen

Nationality

:

Vietnamese

 

 

 

COMPANY DIRECTORS

 

1

 

 

Personal Unique Identifier

:

MI03899293

Name

:

Mr. Vo Hong Nguyen

 

 

NEGATIVE INFORMATION

 

 

REPUTATION

 

Reference checking for the purpose of establishing TRI NGUYEN VI NA JSC's reputation within the respective industry failed to reveal any adverse information.

 

 

NEGA-SCAN - ADVERSE DATA MONITORING

 

 

DISHONORED CHECKS

 

No Record Found

 

http://www.asiancredit.com/Manage/Image/space.gif

 

DEBT

 

No Record Found

 

http://www.asiancredit.com/Manage/Image/space.gif

 

CIVIL LITIGATION

 

No Record Found

 

http://www.asiancredit.com/Manage/Image/space.gif

 

PERFORMANCE DEFAULTS

 

No Record Found

 

http://www.asiancredit.com/Manage/Image/space.gif

 

ADVERSE LOCAL MEDIA COVERAGE / ADVERSE FILING HISTORY

 

No Record Found

 

http://www.asiancredit.com/Manage/Image/space.gif

 

 

 

SHARE & SHARE CAPITAL INFORMATION

 

 

CAPITAL (Currency: VND - Vietnam Dong)

 

Authorized Capital

:

₫ 2,000,000,000

Paid-up Capital

:

₫ 2,000,000,000

 

 

 

SHAREHOLDERS

 

Total number of shareholders

:

4

Total number of shares

:

n/a

 

Currency

:

VND - Vietnam Dong

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

Mr. Vo Hong Nguyen

Vietnam

n/a

1,000,000,000

50.00

2

Mr. Bui Van Viet

Vietnam

n/a

400,000,000

20.00

3

Mr. Pham Vu Chuong

Vietnam

n/a

300,000,000

15.00

4

Mr. Vo Hong Dung

Vietnam

n/a

300,000,000

15.00

Total

n/a

2,000,000,000

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

 

 

DOMESTIC SALES & PURCHASES

 

Annual Sales Analysis

Percentage

Domestic Sales

100%

International Sales (Export)

0%

 

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

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Na

 

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

Year

Turnover

Assets

Net Income

2013 Annual (*)

892,210

303,299

26,935

Note: (*)

Financials listed are the most recent available for this company.

 

 

 

FINANCIAL STATEMENT - DETAILED

 

Balance Sheet

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2013 Annual

Current Assets(*)

6,396,000,000

Share Capital(*)

2,000,000,000

Other long term assets 

Total Assets(*)

6,396,000,000

Total Liabilities(*)

3,638,000,000

Current Liabilities(*)

3,638,000,000

Long term liabilities 

Shareholders Funds(*)

2,758,000,000

 

Current assets & short term investments

6,396,000,000

Cash & cash equivalents

951,000,000

Cash

951,000,000

Accounts receivable

3,586,000,000

Accounts receivable trade

2,646,000,000

Trade prepayment

940,000,000

Inventories

1,677,000,000

Other short term asset

182,000,000

VAT deductible

182,000,000

Total assets

6,396,000,000

Liabilities

3,638,000,000

Current liabilities

3,638,000,000

Short term borrowings

2,120,000,000

Accounts payables-trade

704,000,000

Advances from customers

727,000,000

Taxes and payable to state budget

87,000,000

Owner's equity

2,758,000,000

Business capital

2,000,000,000

Retained earnings

758,000,000

Total resources

6,396,000,000

Note: (*)

Financial Highlights

 

Income Statement

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2013 Annual

Turnover(*)

18,815,000,000

Profit (Loss) Before Tax(*)

733,000,000

Profit After Tax attributable to Shareholders(*)

568,000,000

 

Gross sales

18,815,000,000

Net income

18,815,000,000

Cost of goods sold

14,782,000,000

Gross margin

4,033,000,000

Income from financial activities

64,000,000

Expenses from financial activities

300,000,000

In which: Interest expenses

292,000,000

Selling expenses

2,659,000,000

General & administration expenses

657,000,000

Net income from operating activities

481,000,000

Extraordinary income

252,000,000

Extraordinary gains

252,000,000

Net profit before tax

733,000,000

Income tax

165,000,000

Net profit after tax

568,000,000

Note: (*)

Financial Highlights

 

Financial Ratios

Financial Highlights

2013 Annual

Profitability 

Profit Margin (%)

3.02

Return on Equity (%)

20.59

Return on Assets (%)

8.88

Leverage 

Total Debt Equity (Times)

1.32

Current Debt Equity (Times)

1.32

Total Asset To Total Equity

2.32

Asset Management 

Total Assets Turnover (Times)

2.94

Liquidity 

Current Ratio

1.76

 

 

Based on the corporate laws of Vietnam, legal entities which are a Joint Stock Company 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

 

Primary Products

Products / Materials / Services Description

Activity

Furniture

Importing, Trading

Lumber

Importing, Trading

Wooden products

Importing, Trading

 

 

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Product/Service Description

Code

Activity

Fish & Seafoods

5146

Importing, Trading

Fresh/Frozen Fish/Seafoods, NEC

2092

Importing, Trading

Furniture

5021

Importing, Trading

Lumber and Wood Products

2400

Importing, Trading

Wood products, nspf

2499

Importing, Trading

 

 

 

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Product/Service Description

Code

Activity

Articles of wood

4421

Importing, Trading

Fish & crustaceans

0300

Importing, Trading

Fish, frozen (no fish fillets or other fish meat)

0303

Importing, Trading

Furniture nesoi and parts thereof

9403

Importing, Trading

 

 

 

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Products / Materials / Services Description

Ranking

Activity

Fish

Secondary

Importing, Trading

Frozen seafoods

Secondary

Importing, Trading

Seafood

Secondary

Importing, Trading

 

 

 

CORE BUSINESS DESCRIPTION

 

 

 

Core Business

 

The primary business focus of TRI NGUYEN VI NA JSC is Trading - Finished products.

Key products include :

Lumber

Wooden products

Furniture

 

 

 

Supplementary Business

 

In addition to the core business, TRI NGUYEN VI NA JSC also is engaged in the following areas of business:

Importing

Importing - Finished products

 

 

 

BANK DETAILS

 

 

 

Bank Name

:

VIETNAM PROSPERITY JOINT STOCK COMMERCIAL BANK

Global Identifier

:

P1854843

Branch

:

Hoan Kiem Dist,Hanoi

Branch Address

:

VIETNAM PROSPERITY JOINT STOCK COMMERCIAL BANK - HO CHI MINH

SWIFT Code

:

VPBKVNVX

 

 

 

LOCAL BRANCHES & MANAGEMENT

 

 

 

Branch

:

TRI NGUYEN VI NA JSC - TAN BINH DIST, HO CHI MINH

Branch Address

:

L06 Plot K Bau Cat 2 Zone Hong Lac St Ward 10, Tan Binh Dist, Ho Chi Minh

 

 

 

INTERNATIONAL TRADE - Activity & Markets

 

 

 

 

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing

Cambodia

Medium

Importing

Laos

Medium

Importing

 

 

 

 

OFFICE & FACILITIES

 

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

 

Name

:

TRI NGUYEN VI NA JSC - DISTRICT 2, HO CHI MINH

Primary Use

:

Office & Administration facilities

Address

:

771/23 Rd 5 An Phu Ward, District 2, Ho Chi Minh

Country

:

Vietnam

Status

:

Operational

 

 

 

 

 

NOTES & COMMENTS

 

Na

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.58

UK Pound

1

Rs.102.29

Euro

1

Rs.74.71

 

 

INFORMATION DETAILS

 

Analysis Done by :

KIN

 

 

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.