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MIRA
INFORM REPORT
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Report No. : |
504039 |
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Report Date : |
26.04.2018 |
IDENTIFICATION DETAILS
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Name : |
HOANG PHU THINH IMPORT AND EXPORT JSC |
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Registered Office : |
Section 6 Hai Yen Ward,
Mong Cai, Quang Ninh |
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Country : |
Vietnam |
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Financials (as on) : |
December 2016 |
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Date of Incorporation : |
28.02.2014 |
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Com. Reg. No.: |
5701697081 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
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No. of Employees : |
8 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but 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
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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 |
HOANG PHU THINH IMPORT AND
EXPORT JSC |
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Country |
VIET NAM |
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Company Registration Number |
5701697081 |
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Main Activity Code |
4638 |
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Main Activity Description |
Wholesale of other food,
including fish, crustaceans and molluscs |
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Company Status |
Normal (Active) |
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Latest Turnover Figure |
- |
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Latest Shareholder Equity Figure |
15.575.000.000 |
Basic Information
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Business Name |
HOANG PHU THINH IMPORT AND
EXPORT JSC |
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Registered Company Name |
HOANG PHU THINH IMPORT AND
EXPORT JSC |
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Company Registration Number |
5701697081 |
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Country |
VIET NAM |
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VAT Registration Number |
5701697081 |
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VAT Registration Date |
2014-02-28 |
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Date of Company Registration |
2014-02-28 |
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Date of Starting Operations |
2014-02-28 |
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Commercial Court |
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Legal Form |
Joint Stock Company |
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Type of Ownership |
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Company Status |
Normal (Active) |
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Principal Activity Code |
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Principal Activity Description |
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Contact Telephone Number |
N/a, [+84]-948558289 |
Main Address
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Address |
Country |
Telephone |
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Section 6 Hai Yen Ward,
Mong Cai, Quang Ninh |
VIET NAM |
N/a, [+84]-948558289 |
Other Address
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Address |
Country |
Telephone |
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No other addresses for this
company. |
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Previous Address
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Address |
Country |
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No previous addresses for this
company. |
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Activities
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Activity Code |
Activity Description |
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4638 |
Wholesale of other food,
including fish, crustaceans and molluscs |
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0311 |
Marine fishing |
Email Addresses
No email for this company.
Web Pages
No web pages for this company.
Employee Information
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Date Reported |
Number of Employees |
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2018 |
8 |
Banker Information
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Banker Name |
Banker Address |
Phone Number |
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No banker information for this
company. |
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Advisors Information
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Auditor Name |
Solicitor Name |
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No advisor information for this
company. |
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Miscellaneous Information
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Fax Number |
N/a |
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Export Countries |
Asia / Pacific |
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Import Countries |
Asia / Pacific |
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Additional Business Information |
Core Business The primary business focus of HOANG PHU THINH IMPORT AND EXPORT JSC is Trading -Natural food items, Unprocessed (Meats, Produce or Seafood). Key product include : Seafood Supplementary Business In addition to the core business, HOANG PHU THINH IMPORT AND EXPORT JSC also is engaged in the following areas of business: 1. Exporting Exporting - Natural food items, Unprocessed (Meats, Produce or Seafood) 2. Importing Importing - Natural food items, Unprocessed (Meats, Produce or Seafood) |
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Additional Payment Information |
Selling Type Terms Local 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 Terms Import Letter of Credit (At-sight) Telegraphic Transfer (T/T) - Executed at time of transaction Local Credit -Unsecured 30~60 days Cash on delivery (COD) |
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Additional Financial Information |
Financial Statements Were Prepared As At 2016-12-01. 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. |
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Number of Employees at Address |
8 |
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Number of Employees at Group |
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Number of Employees at Factory |
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Additional Miscellaneous
Information
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Issuing Authority |
DEPT. OF PLANNING & INVESTMENT - Quang Ninh |
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Capital |
US$ 658,410 |
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Primary Business Activity |
Trader |
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Primary Industry |
Seafood & Fishing Industry |
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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. |
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Note |
There exists no known land telephone line that is being used by the Subject Business Entity (SBE) in connection to their business, which is uncommon in normal / regular businesses. The SBE ONLY operates using a Mobile phone as the primary point of contact. In such scenarios, there is no ability to legally associate any relationship between the SBE and the person/s answering the mobile phone. Caution is advised. |
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Harmonized Product Classification & Activity |
Product/Service Description Code Activity Fish fillets and other fish meat, salmonidae, frozen 0304206008 Trading Food preparations not elsewhere specified or included, frozen 2106906095 Trading |
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Domestic Sales & Purchases |
Annual Sales Analysis Percentage Domestic Sales 80% International Sales (Export) 20% Annual Purchases Analysis Percentage Local Purchases 90% Imports 10% |
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Reputation |
Reference checking for the purpose of establishing HOANG PHU THINH IMPORT AND EXPORT JSC's reputation within the respective industry failed to reveal any adverse information. |
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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 |
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Registered Legal Address |
Section 6 Hai Yen Ward, Mong Cai, Quang Ninh |
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Directors Information |
Name: Mr. Minh Van Hoang, Date of Birth: 1982. |
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Office & Facilities |
The following information relates to the Business Entity's office as listed above: Name: HOANG PHU THINH IMPORT AND EXPORT JSC - MONG CAI, QUANG NINH, Primary Use: Office & Administration facilities, Address: Section 6 Hai Yen Ward, Mong Cai, Quang Ninh, Country: Vietnam, Status: Operational. |
Primary Products
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Products / Materials / Services
Description |
Activity |
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Seafood |
Trading |
Financial
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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 |
Profit and Loss
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Revenue |
210.547.000.000 |
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Operating Costs |
210.375.000.000 |
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Operating Profit |
172.000.000 |
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Wages & Salaries |
- |
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Pension Costs |
- |
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Depreciation |
- |
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Amortisation |
- |
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Financial Income |
- |
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Financial Expenses |
80.000.000 |
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Extraordinary Income |
- |
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Extraordinary Costs |
- |
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Profit before Tax |
92.000.000 |
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Tax |
18.000.000 |
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Profit after Tax |
74.000.000 |
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Dividends |
- |
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Minority Interests |
- |
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Other Appropriations |
- |
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Retained Profit |
74.000.000 |
Balance
Sheet
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Land & Buildings |
0 |
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Plant & Machinery |
0 |
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Other Tangible Assets |
0 |
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Total Tangible Assets |
0 |
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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 |
10.000.000.000 |
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Total Other Fixed Assets |
10.000.000.000 |
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Total Fixed Assets |
10.000.000.000 |
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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 |
0 |
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Trade Receivables |
11.105.000.000 |
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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 |
11.105.000.000 |
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Cash |
3.064.000.000 |
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Other Current Assets |
0 |
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Total Current Assets |
14.169.000.000 |
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Total Assets |
24.169.000.000 |
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Trade Payables |
4.982.000.000 |
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Bank Liabilities |
0 |
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Other Loans or Finance |
3.605.000.000 |
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Group Payables |
0 |
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Miscellaneous Liabilities |
7.000.000 |
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Total Current Liabilities |
8.594.000.000 |
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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 |
8.594.000.000 |
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Called Up Share Capital |
0 |
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Share Premium |
0 |
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Revenue Reserves |
75.000.000 |
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Other Reserves |
15.500.000.000 |
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Total Shareholders Equity |
15.575.000.000 |
Other Financials
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Contingent Liabilities |
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Working Capital |
5.575.000.000 |
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Net Worth |
0 |
Ratios
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Pre Tax Profit Margin |
0.04 |
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Return On Capital Employed |
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Return On Total Assets Employed |
0.38 |
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Return On Net Assets Employed |
0.59 |
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Sales / Net Working Capital |
37.77 |
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Stock Turnover Ratio |
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Debtor Days |
19.25 |
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Creditor Days |
8.64 |
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Current Ratio |
1.65 |
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Liquidity Ratio Or Acid Test |
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Current Debt Ratio |
0.55 |
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Gearing |
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Equity In Percentage |
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Total Debt Ratio |
0.55 |
Additional Financials
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Gross Profit |
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Current Directors
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Name |
Gender |
Address |
Date of Birth |
Position |
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Minh Van Hoang |
Male |
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Managing Director |
Previous Directors
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Name |
Gender |
Address |
Date of Birth |
Position |
Resignation Date |
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No previous directors for this
company. |
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Share Capital Structure
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Nominal Share Capital |
1.500.000.000.000 |
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Issued Share Capital |
1.500.000.000.000 |
Shareholders
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Shareholder |
Address |
% Shares Held |
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Mr. Nga Van Nguyen |
Vietnam |
50 |
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Mr. Tuan Van Nguyen |
Vietnam |
30 |
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Mr. Kha Van Nguyen |
Vietnam |
20 |
Group Structure
No group structure information for
this company
Negative Information
No negative information for this
company
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 66.70 |
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1 |
INR 93.14 |
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Euro |
1 |
INR 81.43 |
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VND |
1 |
INR 0.0029 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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VIV |
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
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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 |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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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.