MIRA INFORM REPORT

 

 

Report No. :

504994

Report Date :

26.04.2018

 

 

IDENTIFICATION DETAILS

 

Name :

HUY TUAN JSC

 

 

Registered Office :

68A Group 3 Quarter 7 Bai Chay Ward, Ha Long, Quang Ninh

 

 

Country :

Vietnam

 

 

Financials (as on) :

December 2016

 

 

Date of Incorporation :

10.06.2010

 

 

Com. Reg. No.:

5701407875

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Wholesale of Other Food, including Fish, Crustaceans and Molluscs

 

 

No. of Employees :

60 [2018]

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A+

 

Credit Rating

 

Explanation

Rating Comments

A+

Low Risk

Business dealings permissible with low risk of default

 

Status :

Good

 

 

Payment Behaviour :

No Complaints

 

 

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)

Vietnam

A2

A2

 

Risk Category

 

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

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.

 

Source : CIA

 

 

 

Company Summary

 

Business Name

HT-JSC

Country

VIET NAM

Company Registration Number

5701407875

Main Activity Code

4638

Main Activity Description

Wholesale of other food, including fish, crustaceans and molluscs

Company Status

Normal (Active)

Latest Turnover Figure

-

Latest Shareholder Equity Figure

30.203.000.000

 

 

Basic Information

 

Business Name

HT-JSC

Registered Company Name

HUY TUAN JSC

Company Registration Number

5701407875

Country

VIET NAM

VAT Registration Number

5701407875

VAT Registration Date

Date of Company Registration

2010-06-10

Date of Starting Operations

2010-06-10

Commercial Court

Legal Form

Joint Stock Company

Type of Ownership

Company Status

Normal (Active)

Principal Activity Code

Principal Activity Description

Contact Telephone Number

[+84] 203-3623968

 

 

Main Address

 

Address

 

Country

Telephone

68A Group 3 Quarter 7 Bai Chay Ward, Ha Long, Quang Ninh

VIET NAM

[+84] 203-3623968

 

 

Other Address

 

No other addresses for this company.

 

 

Previous Address

 

Address

 

Country

Group 05 Quarter 07 Bai Chay Ward, Ha Long, Quang Ninh

VIET NAM

200 Nguyen Van Cu St, Hong Hai, Ha Long, Quang Ninh

VIET NAM

 

 

Activities

 

Activity Code              Activity Description

4638                            Wholesale of other food, including fish, crustaceans and molluscs

 

 

Email Addresses

 

huytuan.xnk@gmail.com

 

 

Web Pages

 

No web pages for this company.

 

Employee Information

 

Date Reported Number of Employees

2018                               60

 

 

Banker Information

 

Banker Name

Banker Address

Phone Number

JOINT STOCK COMMERCIAL BANK FOR INVESTMENT & DEVELOPMENT OF VIETNAM

Joint Stock Commercial Bank For Investment And Development Of Vietnam - Quang Ninh

 

 

 

Advisors Information

 

No advisor information for this company.

 

 

Miscellaneous Information

 

Fax Number

[+84] 203-3637568

Export Countries

Asia / Pacific, China

Import Countries

Asia / Pacific, China

Additional Business Information

Core Business: The primary business focus of HUY TUAN JSC is Trading - General products. Key product include: Frozen seafoods. Supplementary Business: In addition to the core business, HUY TUAN JSC also is engaged in the following areas of business: Exporting - Natural food items, Unprocessed (Meats, Produce or Seafood); Importing - Natural food items, Unprocessed (Meats, Produce or Seafood).

Additional Rating Information

High Credit Qulaity: Credit can proceed with favorable & flexible financing terms. Proposed Credit Limit: USD

$6,600,000. Revision of Credit Limit: Annual. Risk Index: Low.

Additional Payment Information

Selling: Type: Export Terms: 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.

Additional Financial Information

Financial Statements were prepared as at 2016.12.31, 2015.12.31 and 2014.12.31. 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

60

Number of Employees at Group

Number of Employees at Factory

 

 

Additional Miscellaneous Information

 

Primary Business Activity

Trader

Key Industry

Food Products

Operational Address

68A Group 3 Quarter 7 Bai Chay Ward, Ha Long, Quang Ninh

Issuing Authority

DEPT. OF PLANNING & INVESTMENT - Quang Ninh

Legal Form - Category

Joint Stock Company

Legal Form – Abbreviation

JSC

Capital

US$ 1,315,560

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: 5701407875 Date of Issuance: Jun, 2010 “The supplier could get only information on year and month not day at this time.”

Domestic Sales & Purchases

Annual Sales Analysis: Percentage International Sales (Export): 100% Domestic Sales: 0% Annual Purchases Analysis: Percentage Imports: 100% Local Purchases: 0%

Management Details

 

Personal Unique Identifier: MI03536847 Name: Ms. Ha Hong Nguyen Date of Birth: 1961 “The supplier could get only information on year, not month and day at this time.” Personal Unique Identifier: MI04184441 Name: Mr. Tung Thanh Pham Date of Birth: 1987 “The supplier could get only information on year, not month and day at this time.”

Reputation

Reference checking for the purpose of establishing HUY TUAN 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

Additional Bank Details

 

Bank Name: JOINT STOCK COMMERCIAL BANK FOR INVESTMENT & DEVELOPMENT OF VIETNAM Global

 

Identifier: 32400483 Branch: Joint Stock Commercial Bank For Investment And Development Of Vietnam -

 

Quang Ninh Branch Address: Quang Ninh SWIFT Code: BIDVVNVX Bank Name: VIETNAM JOINT STOCK

 

COMMERCIAL BANK FOR INDUSTRY & TRADE Global Identifier: 32404058 Branch: VIETNAM JOINT STOCK

 

COMMERCIAL BANK FOR INDUSTRY AND TRADE - QUANG NINH Branch Address: Quang Ninh SWIFT

 

Code: ICBVVNVX

Office & Facilities

 

The following information relates to the Business Entity's office as listed above: Name: HUY TUAN JSC - HA LONG, QUANG NINH Primary Use: Office & Administration facilities Building Size: 200 Square meters Address: 68A Group 3 Quarter 7 Bai Chay Ward, Ha Long, Quang Ninh Country: Vietnam Ownership of Property: Rented / Leased Status: Operational

 

 

Primary Products

 

Products  /  Materials / Services Description        Activity

Frozen seafoods            Trading

 

 

Financial Year

2016-12

2015-12

2014-12

Number of Weeks

52

52

52

Currency

VND

VND

VND

Consolidated Accounts

No

No

No

 

 

Profit and Loss

 

Revenue

2.989.566.000.000

4.815.353.000.000

5.954.365.000.000

Operating Costs

2.989.644.000.000

4.814.022.000.000

5.956.199.000.000

Operating Profit

-78.000.000

1.331.000.000

-1.834.000.000

Wages & Salaries

-

-

-

Pension Costs

-

-

-

Depreciation

-

-

-

Amortisation

-

-

-

Financial Income

305.000.000

177.000.000

-

Financial Expenses

-

-

117.000.000

Extraordinary Income

114.000.000

201.000.000

494.000.000

Extraordinary Costs

81.000.000

201.000.000

398.000.000

Profit before Tax

260.000.000

1.508.000.000

-1.855.000.000

Tax

57.000.000

332.000.000

45.000.000

Profit after Tax

203.000.000

1.176.000.000

-1.900.000.000

Dividends

-

-

-

Minority Interests

-

-

-

Other Appropriations

-

-

-

Retained Profit

203.000.000

1.176.000.000

-1.900.000.000

 

 

Balance Sheet

 

Land & Buildings

0

0

0

Plant & Machinery

0

0

0

Other Tangible Assets

4.146.000.000

4.330.000.000

4.206.000.000

Total Tangible Assets

4.146.000.000

4.330.000.000

4.206.000.000

Goodwill

0

0

0

Other Intangible Assets

0

0

0

Total Intangible Assets

0

0

0

Investments

10.000.000.000

10.000.000.000

0

Loans to Group

0

0

0

Other Loans

0

0

0

Miscellaneous Fixed Assets

374.000.000

201.000.000

15.258.000.000

Total Other Fixed Assets

10.374.000.000

10.201.000.000

15.258.000.000

Total Fixed Assets

14.520.000.000

14.531.000.000

19.464.000.000

Raw Materials

0

0

0

Work in Progress

0

0

0

Finished Goods

0

0

0

Other Inventories

0

0

0

Total Inventories

142.000.000

15.000.000

108.000.000

Trade Receivables

12.030.000.000

6.204.000.000

3.643.000.000

Group Receivables

0

0

0

Receivables Due after 1 year

0

0

0

Miscellaneous Receivables

0

0

0

Total Receivables

12.030.000.000

6.204.000.000

3.643.000.000

Cash

5.235.000.000

12.283.000.000

6.835.000.000

Other Current Assets

0

4.000.000

67.000.000

Total Current Assets

17.407.000.000

18.506.000.000

10.653.000.000

Total Assets

31.927.000.000

33.037.000.000

30.117.000.000

Trade Payables

1.706.000.000

578.000.000

1.903.000.000

Bank Liabilities

0

0

0

Other Loans or Finance

0

0

0

Group Payables

0

0

0

Miscellaneous Liabilities

-10.000.000

0

50.000.000

Total Current Liabilities

1.696.000.000

578.000.000

1.953.000.000

Trade Payables After 1 Year

0

0

0

Bank Liabilities After 1 Year

0

0

0

Other Loans or Finance due after 1 year

0

0

0

Group Payables After 1 Year

0

0

0

Miscellaneous Liabilities Due After 1 Year

28.000.000

0

0

Total Long Term Liabilities

28.000.000

0

0

Total Liabilities

1.724.000.000

578.000.000

1.953.000.000

Called Up Share Capital

30.000.000.000

30.000.000.000

30.000.000.000

Share Premium

0

0

0

Revenue Reserves

203.000.000

2.459.000.000

-1.836.000.000

Other Reserves

0

0

0

Total Shareholders Equity

30.203.000.000

32.459.000.000

28.164.000.000

 

 

Other Financials

 

Contingent Liabilities

Working Capital

15.711.000.000

17.928.000.000

8.700.000.000

Net Worth

0

0

0

 

 

Ratios

 

Pre Tax Profit Margin

0.01

0.03

-0.03

Return On Capital Employed

0.86

 

 

Return On Total Assets Employed

0.81

4.56

-6.16

Return On Net Assets Employed

0.86

4.65

-6.59

Sales / Net Working Capital

190.28

268.59

684.41

Stock Turnover Ratio

0

0

0

Debtor Days

1.47

0.47

0.22

Creditor Days

0.21

0.04

0.12

Current Ratio

10.26

32.02

5.45

Liquidity Ratio Or Acid Test

10.18

31.99

5.4

Current Debt Ratio

0.06

0.02

0.07

Gearing

Equity In Percentage

Total Debt Ratio

0.06

0.02

0.07

 

 

Additional Financials

 

Gross Profit

 

 

Current Directors

 

Name

Gender

Address

Date of Birth

Position

Thai Hong Nguyen

Male

Vietnamese

1966-04-25

Chairman Managing Director

Ha Hong Nguyen

Female

Vietnamese

 

Deputy Managing Director

Tung Thanh Pham

Male

Vietnamese

 

Chief Accountant

 

 

Previous Directors

 

No previous directors for this company.

 

 

Share Capital Structure

 

Nominal Share Capital   30.000.000.000

Issued Share Capital      30.000.000.000

 

 

Shareholders

 

Shareholder

Address

% Shares Held

Mr. Thai Hong Nguyen

Vietnam

62.5

Mr. Chien Dinh Do

Vietnam

18.75

Ms. Ha Hong Nguyen

Vietnam

18.75

 

 

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 66.70

UK Pound

1

INR 93.14

Euro

1

INR 81.43

VND

1

INR 0.0029

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

TPT

 

 

RATING EXPLANATIONS

 

Credit Rating

 

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

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

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

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)

 

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.