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MIRA
INFORM REPORT
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Report No. : |
501670 |
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Report Date : |
13.04.2018 |
IDENTIFICATION DETAILS
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Name : |
THANH TUNG JSC |
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Registered Office : |
4/32 Che Huong Rd Dong Hai
1 Ward, Hai An Dist, Haiphong |
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Country : |
Vietnam |
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Financials (as on) : |
December 2016 |
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Date of Incorporation : |
17.03.2005 |
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Com. Reg. No.: |
0203001338 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Wholesale of fruit and
vegetables |
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No. of Employees : |
6 [2018] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Vietnam |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
VIETNAM - ECONOMIC
OVERVIEW
Vietnam is a densely populated developing country that has been transitioning since 1986 from the rigidities of a centrally planned, highly agrarian economy to a more industrial and market based economy, and it has raised incomes substantially. In 2016 and 2017, Vietnam missed its yearly growth target of 6.7% due to environmental issues – drought and salinization - impacting the agricultural sector, and low oil prices affecting the extractive sector. However, annual GDP growth reached 6.3%, reflecting strengthening domestic demand and strong manufacturing exports.
Vietnam has a young population, stable political system, commitment to sustainable growth, relatively low inflation, stable currency, strong FDI inflows, and strong manufacturing sector. In addition, the country is committed to continuing its global economic integration. Vietnam joined the WTO in January 2007 and concluded several free trade agreements in 2015-16, including the EU-Vietnam Free Trade Agreement, the Korean Free Trade Agreement, and the Eurasian Economic Union Free Trade Agreement. In 2017, Vietnam successfully chaired the Asia-Pacific Economic Cooperation (APEC) Conference with its key priorities including inclusive growth, innovation, strengthening small and medium enterprises, food security and climate change. Seeking to diversify its opportunities, Vietnam also continued to pursue other multilateral relationships, including the Comprehensive and Progressive Agreement for the Transpacific Partnership and the Regional Comprehensive Economic Partnership.
To continue its trajectory of strong economic growth, the government acknowledges the need to spark a second wave’ of reforms, including reforming state-owned-enterprises, reducing red tape, increasing business sector transparency, reducing the level of non-performing loans in the banking sector, and increasing financial sector transparency. Vietnam’s public debt to GDP ratio is nearing the government mandated ceiling of 65%.
In 2016, Vietnam cancelled its civilian nuclear energy development program, citing public concerns about safety and the high cost of the program; it faces growing pressure on energy infrastructure. Overall, the country’s infrastructure fails to meet the needs of an expanding middle class. Vietnam has demonstrated a commitment to sustainable growth over the last several years, but the recent slowdown in economic growth could test the government’s resolve.
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Source : CIA |
Company Summary
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Business
Name |
THANH
TUNG JSC |
|
Country |
VIET NAM |
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Company
Registration Number |
0203001338 |
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Main
Activity Code |
4631 |
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Main
Activity Description |
Wholesale
of fruit and vegetables |
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Company
Status |
Normal
(Active) |
|
Latest
Shareholder Equity Figure |
2.247.000.000 |
Basic Information
|
Business
Name |
THANH
TUNG JSC |
|
Registered
Company Name |
THANH
TUNG JSC |
|
Company
Registration Number |
0203001338 |
|
Country |
VIET NAM |
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VAT
Registration Number |
0200613331 |
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VAT
Registration Date |
2005-03-24 |
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Date of
Company Registration |
2005-03-17 |
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Date of
Starting Operations |
2005-03-17 |
|
Legal
Form |
Joint
Stock Company |
|
Company
Status |
Normal
(Active) |
|
Contact
Telephone Number |
[+84]
225-3769596 [+84] 225-3769688 |
Main Address
|
Address |
Country |
Telephone |
|
4/32 Che
Huong Rd Dong Hai 1 Ward, Hai An Dist, Haiphong VIET NAM |
[+84]
225-3769596 [+84] 2253769688 |
|
Other Address
No other addresses for this company.
Previous Address
No previous addresses for this company.
Activities
|
Activity
Code |
Activity
Description |
|
4631 |
Wholesale
of fruit and vegetables |
Email Addresses
Web Pages
No web
pages for this company.
Employee
Information
|
Date
Reported |
Number
of Employees |
|
2018 |
06 |
Banker Information
No banker
information for this company.
Advisors Information
No advisor information for this company.
Miscellaneous Information
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Fax
Number |
[+84]
225-3769698 |
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Export
Countries |
Asia /
Pacific |
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Import
Countries |
Asia /
Pacific, China |
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Additional
Business Information |
Core Business: The primary business focus of THANH TUNG JSC is Trading
- Finished products. Key products include: Agricultural products, Peanut,
Beans, Sesame. Supplementary Business: In addition to the core business,
THANH TUNG JSC also is engaged in the following areas of business: 1. Exporting,
Exporting - Finished products 2. Importing, Importing - Finished products. |
|
Additional
Payment Information |
Selling: Type: Local Terms: Cash on delivery (COD), Credit - Unsecured
30~60 days Export: Telegraphic Transfer (T/T) - Received at time of transaction,
Letter of Credit (At-sight) Purchasing: Type: Import Terms: Letter of Credit
(At-sight), Telegraphic Transfer (T/T) - Executed at time of transaction |
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Additional
Financial Information |
Financial Statements were prepared as at 2016-12-31. 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. |
|
Number
of Employees at Address |
06 |
Additional
Miscellaneous Information
|
Primary
Business Activity |
Trader |
|
Key
Industry |
Agricultural
Products |
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Registered
Legal Address |
4/32 Che
Huong Rd Dong Hai 1 Ward, Hai An Dist, Haiphong |
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Issuing
Authority |
DEPT. OF
PLANNING & INVESTMENT - Hai Phong |
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Capital |
US$
89,660 |
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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: 0200613331
Date of Issuance: 24 Mar, 2005 |
|
Domestic
Sales & Purchases |
Annual Sales Analysis: Percentage Domestic Sales: 40% International
Sales (Export): 60% Annual Purchases Analysis: Percentage Imports: 100% |
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Management
Details |
Name: Mr. Thanh Quang La Date of Birth: 1974 "The supplier could
get only information on year, not month and day at this time." |
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Other
Licenses |
Issuing Authority: DEPT. OF PLANNING & INVESTMENT - Hai Phong
License Name: Permit License Number: 0203001338 Date of Issuance: 17 Mar,
2005 |
|
Reputation |
Reference checking for the purpose of establishing THANH TUNG JSC's
reputation within the respective industry failed to reveal any adverse
information. |
|
Nega-Scan
- Adverse Data Monitoring |
Dishonored Checks, Debt, Civil Litigation, Performance Defaults,
Adverse Local Media Coverage / Adverse Filing History: No Record Found. |
|
Office
& Facilities |
The following information relates to the Business Entity's office as
listed above: Name: THANH TUNG JSC -HAI AN DIST, HAIPHONG Primary Use: Office
& Administration facilities Address: 4/32 Che Huong Rd Dong Hai 1 Ward, Hai An Dist, Haiphong Country: Vietnam Status: Operational |
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Products
/ Materials / Services Description Activity |
|
|
Agricultural
products |
Trading |
|
Beans |
Trading |
|
Peanut |
Trading |
|
Sesame |
Trading |
Financials
|
Financial
Year |
2016-12 |
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Number
of Weeks |
52 |
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Currency |
VND |
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Consolidated
Accounts |
No |
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Profit and Loss |
|
|
Revenue |
170.934.000.000 |
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Operating
Costs |
170.602.000.000 |
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Operating
Profit |
332.000.000 |
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Wages
& Salaries |
- |
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Pension
Costs |
- |
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Depreciation |
- |
|
Amortisation |
- |
|
Financial
Income |
57.000.000 |
|
Financial
Expenses |
109.000.000 |
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Extraordinary
Income |
- |
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Extraordinary
Costs |
- |
|
Profit
before Tax |
281.000.000 |
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Tax |
56.000.000 |
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Profit
after Tax |
225.000.000 |
|
Dividends |
- |
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Minority
Interests |
- |
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Other
Appropriations |
- |
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Retained
Profit |
225.000.000 |
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|
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Balance Sheet |
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Land
& Buildings |
0 |
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Plant
& Machinery |
0 |
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Other Tangible
Assets |
2.690.000.000 |
|
Total
Tangible Assets |
2.690.000.000 |
|
Goodwill |
0 |
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Other
Intangible Assets |
0 |
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Total
Intangible Assets |
0 |
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Investments |
0 |
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Loans to
Group |
0 |
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Other
Loans |
0 |
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Miscellaneous
Fixed Assets |
0 |
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Total
Other Fixed Assets |
0 |
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Total
Fixed Assets |
2.690.000.000 |
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Raw
Materials |
0 |
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Work in
Progress |
0 |
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Finished
Goods |
0 |
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Other
Inventories |
0 |
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Total
Inventories |
64.000.000 |
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Trade
Receivables |
16.646.000.000 |
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Group
Receivables |
0 |
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Receivables
Due after 1 year |
0 |
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Miscellaneous
Receivables |
0 |
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Total
Receivables |
16.646.000.000 |
|
Cash |
332.000.000 |
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Other
Current Assets |
1.366.000.000 |
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Total
Current Assets |
18.407.000.000 |
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Total
Assets |
21.097.000.000 |
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Trade
Payables |
0 |
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Bank
Liabilities |
0 |
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Other
Loans or Finance |
18.850.000.000 |
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Group
Payables |
0 |
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Miscellaneous
Liabilities |
0 |
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Total
Current Liabilities |
18.850.000.000 |
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Trade
Payables After 1 Year |
0 |
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Bank
Liabilities After 1 Year |
0 |
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Other
Loans or Finance due after 1 year |
0 |
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Group
Payables After 1 Year |
0 |
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Miscellaneous
Liabilities Due After 1 Year |
0 |
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Total
Long Term Liabilities |
0 |
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Total
Liabilities |
18.850.000.000 |
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Called
Up Share Capital |
2.000.000.000 |
|
Share
Premium |
0 |
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Revenue
Reserves |
247.000.000 |
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Other
Reserves |
0 |
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Total
Shareholders Equity |
2.247.000.000 |
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Other Financials |
|
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Contingent
Liabilities |
|
|
Working
Capital |
-443.000.000 |
|
Net
Worth |
0 |
|
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Ratios |
|
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Pre Tax
Profit Margin |
0.16 |
|
Return
On Capital Employed |
|
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Return
On Total Assets Employed |
1.33 |
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Return
On Net Assets Employed |
12.51 |
|
Sales /
Net Working Capital |
-385.86 |
|
Stock
Turnover Ratio |
0.04 |
|
Debtor
Days |
35.54 |
|
Creditor
Days |
|
|
Current
Ratio |
0.98 |
|
Liquidity
Ratio Or Acid Test |
0.97 |
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Current
Debt Ratio |
8.39 |
|
Gearing |
|
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Equity
In Percentage |
|
|
Total
Debt Ratio |
8.39 |
Current
Directors
|
Name |
Gender |
Address |
Date of |
Position |
|
|
|
|
Birth |
|
|
Thanh
Quang La |
Male |
Vietnamese |
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Managing
Director |
|
Huong
Thi Duong |
Female |
Vietnamese |
|
Chief
Accountant |
Previous Directors
No previous directors for
this company
Share
Capital Structure
|
Nominal
Share Capital |
2.000.000.000 |
Shareholders
|
Shareholder |
Address |
% Shares
Held |
|
Mr.
Thanh Quang La |
Vietnam |
51 |
|
Mr. Tung
Manh Ha |
Vietnam |
39 |
|
Mr.
Thanh Duc Ha |
Vietnam |
10 |
Group Structure
No group
structure information for this company
Negative Information
No negative information for
this company
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.35 |
|
|
1 |
INR 92.70 |
|
Euro |
1 |
INR 80.80 |
|
VND |
1 |
INR 0.0029 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
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Report Prepared
by : |
SYL |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.