MIRA INFORM REPORT

 

 

Report No. :

339907

Report Date :

21.09.2015

 

IDENTIFICATION DETAILS

 

Name :

DONG VIET NON-FERROUS METAL AND PLASTIC JSC

 

 

Registered Office :

Nam Hung Vuong - Bac Tran Van Kieu Residential Zone 8-10-12 Rd 2B An Lac Ward, Binh Tan Dist, Ho Chi Minh

 

 

Country :

Vietnam

 

 

Financials (as on) :

December 2014

 

 

Date of Incorporation :

08.07.2009

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacturer of Metals & Metal Products.

 

 

No. of Employee :

100

 

 

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 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

 

Company Details

 

Organization Name

:

DONG VIET NON-FERROUS METAL AND PLASTIC JSC (1)

Name in Local Language

:

CÔNG TY CỔ PHẦN KIM LOẠI MÀU VÀ NHỰA ĐỒNG VIỆT

Address

:

Nam Hung Vuong - Bac Tran Van Kieu Residential Zone 8-10-12 Rd 2B An Lac Ward, Binh Tan Dist, Ho Chi Minh

Country

:

Vietnam

Phone (S)

:

[+84] 8-38253604

Facsimile

:

[+84] 8-38253605

Website

:

http://www.dovinametal.com  

Primary Business Activity

:

Manufacturer

Key Industry

:

Metals & Metal Products

 

 

Key Facts

 

Registered Legal Address

:

Nam Hung Vuong - Bac Tran Van Kieu Residential Zone 8-10-12 Rd 2B An Lac Ward, Binh Tan Dist, Ho Chi Minh

Operational Address

:

Nam Hung Vuong - Bac Tran Van Kieu Residential Zone 8-10-12 Rd 2B An Lac Ward, Binh Tan Dist, Ho Chi Minh

Trading Name / DBA

:

DOVINA JSC

License Status

:

License exists - Normal.

Issuing Authority

:

Dept. of Planning & Investment - Ho Chi Minh

License Number

:

0309174756

Legal Form - Category

:

Joint Stock Company

Legal Form

:

Joint Stock Company

Legal Form - Abbreviation

:

JSC

Operational Status of Business

:

Normal

Date of Registration

:

8 Jul, 2009

Employees

:

100

Capital

:

US$ 6,991,556

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. Dang Ngoc Tran

Nationality

:

Vietnamese

 

 

COMPANY MANAGEMENT

 

Management Listings

 

 

Name

Nationality

Job Description

Dept. / Division

1

Mr. Ai Thi Tran

Vietnamese

Chief Accountant

-

 

 

 

Management Details - 1

Personal Unique Identifier

:

MI03854626

Name

:

Mr. Ai Thi Tran

 

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03854623

Name

:

Mr. Dang Ngoc Tran

 

 

 

NEGATIVE INFORMATION

 

REPUTATION

Reference checking for the purpose of establishing DONG VIET NON-FERROUS METAL AND PLASTIC JSC'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

 

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

 

 

 

SHARE & SHARE CAPITAL INFORMATION

 

CAPITAL (Currency: VND - Vietnam Dong)

Authorized Capital

:

₫ 155,000,000,000

Paid-up Capital

:

₫ 155,000,000,000

Date

Authorized Capital - History

8 Jul, 2009

20,000,000,000

15 Jun, 2011

36,000,000,000

26 Dec, 2013

155,000,000,000

 

SHAREHOLDERS

Total number of shareholders

:

3

Total number of shares

:

n/a

 

Currency

:

VND - Vietnam Dong

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

Mr. Thinh Tan Vo

Vietnam

n/a

77,500,000,000

50.00

2

Mr. Hung Van Trac

Vietnam

n/a

72,850,000,000

47.00

3

Mr. Dang Ngoc Tran

Vietnam

n/a

4,650,000,000

3.00

Total

n/a

155,000,000,000

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%

 

Annual Purchases Analysis

Percentage

 

Local Purchases

80%

Imports

20%

 

PAYMENT TERMS

Selling

 

Type

Terms

Local

Cash on delivery (COD)

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

 

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

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of DONG VIET NON-FERROUS METAL AND PLASTIC JSC is Manufacturing - Finished products.

Key products include :

Aluminum

Copper

Non-ferrous metals

Plastic


An integral part of the core business includes:

Distribution

 

Supplementary Business

 

In addition to the core business, DONG VIET NON-FERROUS METAL AND PLASTIC JSC also is engaged in the following areas of business:

Importing

Importing - Raw materials

 

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

 

Year

Turnover

Assets

Net Income

2012 Annual  

33,958,970

11,538,196

295,803

2013 Annual  

57,893,626

20,488,152

423,699

2014 Annual  

112,136,533

39,929,104

637,498

 

 

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/up_arrow_04.gif

 

 

FINANCIALS - SUMMARY (Currency: USD - US Dollar)

Year

Turnover

Assets

Net Income

2011 Annual

45,386,750

7,432,021

46,471

 

 

FINANCIAL STATEMENT - DETAILED

Balance Sheet

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2012 Annual

2013 Annual

2014 Annual

Current Assets(*)

177,176,000,000

259,963,000,000

499,831,000,000

Non Current Assets(*)

63,103,000,000

172,093,000,000

344,414,000,000

Non Current Liabilities(*)

22,655,000,000

66,615,000,000

139,657,000,000

Share Capital(*)

36,000,000,000

155,000,000,000

155,000,000,000

Other long term assets 

Total Assets(*)

240,279,000,000

432,056,000,000

844,245,000,000

Total Liabilities(*)

196,504,000,000

260,663,000,000

660,321,000,000

Current Liabilities(*)

173,849,000,000

194,048,000,000

520,664,000,000

Long term liabilities 

Shareholders Funds(*)

43,775,000,000

171,393,000,000

183,924,000,000

 

Current assets & short term investments

177,176,000,000

259,963,000,000

499,831,000,000

Cash & cash equivalents

40,017,000,000

45,701,000,000

29,834,000,000

Cash

40,017,000,000

39,936,000,000

19,834,000,000

Cash equivalents

-

5,765,000,000

10,000,000,000

Accounts receivable

48,553,000,000

131,978,000,000

182,445,000,000

Accounts receivable trade

24,452,000,000

28,911,000,000

155,039,000,000

Trade prepayment

23,726,000,000

41,816,000,000

26,422,000,000

Others receivables

375,000,000

61,251,000,000

984,000,000

Inventories

74,069,000,000

75,723,000,000

242,348,000,000

I. Other short term asset

14,537,000,000

6,561,000,000

45,204,000,000

Prepaid expenses

431,000,000

580,000,000

2,449,000,000

VAT deductible

12,591,000,000

3,218,000,000

36,439,000,000

Other tax receivables

-

25,000,000

-

II. Other short term asset

1,515,000,000

2,738,000,000

6,316,000,000

Long term assets

63,103,000,000

172,093,000,000

344,414,000,000

Fixed assets

62,794,000,000

171,659,000,000

342,511,000,000

Tangible fixed assets

61,746,000,000

65,772,000,000

110,141,000,000

I. Cost

70,718,000,000

80,989,000,000

133,392,000,000

Accumulated depreciation

8,972,000,000

15,217,000,000

23,251,000,000

Intangible fixed assets

-

47,555,000,000

93,555,000,000

II. Cost

-

47,555,000,000

93,555,000,000

Construction in progress

1,048,000,000

58,332,000,000

138,815,000,000

Other long term assets

309,000,000

434,000,000

1,903,000,000

Long term prepayments

309,000,000

434,000,000

1,903,000,000

Total assets

240,279,000,000

432,056,000,000

844,245,000,000

Liabilities

196,504,000,000

260,663,000,000

660,321,000,000

Current liabilities

173,849,000,000

194,048,000,000

520,664,000,000

Short term borrowings

18,933,000,000

61,520,000,000

270,976,000,000

Accounts payables-trade

150,595,000,000

123,511,000,000

239,905,000,000

Advances from customers

791,000,000

2,870,000,000

715,000,000

Taxes and payable to state budget

1,422,000,000

2,750,000,000

3,448,000,000

Payable to employees

1,660,000,000

2,385,000,000

3,804,000,000

Accrued expenses payable

44,000,000

-

-

Other payables

404,000,000

1,367,000,000

2,407,000,000

I. Bonus and welfare funds

-

(355,000,000)

(591,000,000)

Long term liabilities

22,655,000,000

66,615,000,000

139,657,000,000

Long term borrowings

19,811,000,000

66,615,000,000

139,657,000,000

Deffered revenue

2,844,000,000

-

-

I. Owner's equity

43,775,000,000

171,393,000,000

183,924,000,000

II. Owner's equity

44,085,000,000

171,393,000,000

183,924,000,000

Business capital

36,000,000,000

155,000,000,000

155,000,000,000

Business development funds

811,000,000

1,704,000,000

3,059,000,000

Financial reserved funds

405,000,000

852,000,000

1,529,000,000

Retained earnings

6,869,000,000

13,837,000,000

24,336,000,000

Budget sources

(310,000,000)

-

-

II. Bonus and welfare funds

(310,000,000)

-

-

Total resources

240,279,000,000

432,056,000,000

844,245,000,000

Note: (*)

Financial Highlights

 

Income Statement

Currency

:

VND

Denomination

:

1

Financial Year Ending

 

:

December

Financial Highlights

2012 Annual

2013 Annual

2014 Annual

Turnover(*)

707,184,000,000

1,220,866,000,000

2,370,970,000,000

Profit (Loss) Before Tax(*)

7,494,000,000

11,928,000,000

17,297,000,000

Profit After Tax attributable to Shareholders(*)

6,160,000,000

8,935,000,000

13,479,000,000

 

Gross sales

707,184,000,000

1,220,866,000,000

2,370,970,000,000

Net income

707,184,000,000

1,220,866,000,000

2,370,970,000,000

Cost of goods sold

686,360,000,000

1,193,413,000,000

2,319,011,000,000

Gross margin

20,824,000,000

27,453,000,000

51,959,000,000

Income from financial activities

261,000,000

743,000,000

1,319,000,000

Expenses from financial activities

6,010,000,000

5,960,000,000

18,125,000,000

In which: Interest expenses

5,231,000,000

5,149,000,000

14,425,000,000

Selling expenses

4,987,000,000

5,680,000,000

9,377,000,000

General & administration expenses

2,652,000,000

4,934,000,000

8,314,000,000

Net income from operating activities

7,436,000,000

11,622,000,000

17,462,000,000

Extraordinary income

470,000,000

306,000,000

355,000,000

Extraordinary expenses

412,000,000

-

520,000,000

Extraordinary gains

58,000,000

306,000,000

(165,000,000)

Net profit before tax

7,494,000,000

11,928,000,000

17,297,000,000

Income tax

1,334,000,000

2,993,000,000

3,818,000,000

Net profit after tax

6,160,000,000

8,935,000,000

13,479,000,000

Note: (*)

Financial Highlights

 

Financial Ratios

Financial Highlights

2012 Annual

2013 Annual

2014 Annual

Growth % 

Year-on-Year Growth

(25.20)

72.64

94.20

Profitability 

Profit Margin (%)

0.87

0.73

0.57

Return on Equity (%)

14.07

5.21

7.33

Return on Assets (%)

2.56

2.07

1.60

Leverage 

Total Debt Equity (Times)

4.49

1.52

3.59

Current Debt Equity (Times)

3.97

1.13

2.83

Long Term Debt to Equity

0.52

0.39

0.76

Total Asset To Total Equity

5.49

2.52

4.59

Asset Management 

Total Assets Turnover (Times)

2.94

2.83

2.81

Fixed Assets Turnover (Times)

11.21

7.09

6.88

Liquidity 

Current Ratio

1.02

1.34

0.96

 

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

 

Report Details

 

 

Country

:

Vietnam

Business Entity Name

:

DONG VIET NON-FERROUS METAL AND PLASTIC JSC

Primary Business Activity

:

Manufacturer

Primary Industry

:

Metals & Metal Products

 

Office Contact Details

 

Operating Address

:

Nam Hung Vuong - Bac Tran Van Kieu Residential Zone 8-10-12 Rd 2B An Lac Ward, Binh Tan Dist, Ho Chi Minh

Tel

:

[+84] 8-38253604

 

:

[+84] 8-38253124

Fax

:

[+84] 8-38253605

 

:

[+84] 8-38253021

 

Factory Contact Details

 

Address

:

Thinh Phat Industrial Park Rd 1 Hamlet 3 Luong Binh Commune, Ben Luc, Long An

Website Details

Website

:

http://www.dovinametal.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

:

0309174756

Date of Issuance

:

14 Jul, 2009

 

 

Primary Products

 

Products / Materials / Services Description

Activity

Aluminum

Manufacturing

Copper

Manufacturing

Non-ferrous metals

Manufacturing

Plastic

Manufacturing

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

 

Product/Service Description

Code

Activity

Copper Foundries

3366

Manufacturing

Copper, rolled or drawn

3351

Manufacturing

Fabricated metal products, nspf

3499

Manufacturing

Plastics Mat'ls/Basic Forms

5162

Manufacturing

Plastics products, nspf

3089

Manufacturing

Primary metal products, nspf

3399

Manufacturing

Primary nonferrous metals, nspf

3339

Manufacturing

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

 

Product/Service Description

Code

Activity

Aluminum & articles thereof

7600

Manufacturing

Aluminum bars, rods and profiles

7604

Manufacturing

Articles of copper

7419

Manufacturing

Copper & articles thereof

7400

Manufacturing

Copper bars, rods and profiles

7407

Manufacturing

Miscellaneous articles of base metal

8300

Manufacturing

Plastics & articles thereof

3900

Manufacturing

 

BANK DETAILS

 

Bank Name

:

JOINT STOCK COMMERCIAL BANK FOR INVESTMENT & DEVELOPMENT OF VIETNAM

Global Identifier

:

32400483

Branch

:

Hoan Kiem Dist,Hanoi

Branch Address

:

JOINT STOCK COMMERCIAL BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM - NAM SAI GON ,

SWIFT Code

:

BIDVVNVX

 

Bank Name

:

MILITARY COMMERCIAL JOINT STOCK BANK

Global Identifier

:

P0387295

Branch

:

Dong Da,Hanoi

Branch Address

:

MILITARY COMMERCIAL JOINT STOCK BANK, SAIGON

SWIFT Code

:

MSCBVNVX

 

Bank Name

:

VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY & TRADE

Global Identifier

:

32404058

Branch

:

Hoan Kiem Dist,Hanoi

Branch Address

:

VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE - BINH THANH

SWIFT Code

:

ICBVVNVX

 

 

 

INTERNATIONAL TRADE - Activity & Markets

 

 

Country / Region

Estimated level of importance

Trading Activity

Africa

Medium

Importing

Asia / Pacific

Medium

Importing

Europe

Medium

Importing

Italy

Medium

Importing

Japan

Medium

Importing

United Kingdom

Medium

Importing

 

OFFICE & FACILITIES

 

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

Name

:

DONG VIET NON-FERROUS METAL AND PLASTIC JSC - BINH TAN DIST, HO CHI MINH

Primary Use

:

Office & Administration facilities

Address

:

Nam Hung Vuong - Bac Tran Van Kieu Residential Zone 8-10-12 Rd 2B An Lac Ward, Binh Tan Dist, Ho Chi Minh

Country

:

Vietnam

Status

:

Operational

 

 

FACTORIES, SIZE, & LOCATIONS

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

 

Address

:

Thinh Phat Industrial Park Rd 1 Hamlet 3 Luong Binh Commune, Ben Luc, Long An

 

 

 

 

NOTES & COMMENTS

 

N/a

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.92

UK Pound

1

Rs.102.75

Euro

1

Rs.75.13

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

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.