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MIRA INFORM REPORT
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Report No. : |
487742 |
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Report Date : |
01.02.2018 |
IDENTIFICATION DETAILS
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Name : |
MOC CHAU SERICUL TURE JSC |
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Registered Office : |
Tieu Khu Nha Nghi Moc
Chau Farm Moc Chau Town, Moc Chau
Dist, Son La |
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Country : |
Viet Nam |
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Financials (as on) : |
December 2016 |
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Date of Incorporation : |
14.11.2008 |
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Com. Reg. No.: |
5500155586 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture of other textiles
n.e.c |
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No. of Employees : |
128 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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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 : |
Good |
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Payment Behaviour : |
Regular |
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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 (30.06.2017) |
Current Rating (30.09.2017) |
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Viet Nam |
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 |
VIET NAM - ECONOMIC OVERVIEW
Vietnam is a densely populated developing country that has been transitioning from the rigidities of a centrally planned, highly agrarian economy since 1986 to a more industrial and market based economy, raising 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.
However, 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 has demonstrated a commitment to sustainable growth over the last several years, but a recent slowdown in economic growth could test the government’s resolve.
In 2016, Vietnam cancelled its civilian nuclear energy development program, citing public concerns about safety and the high cost of the program, and is facing growing pressure on energy infrastructure. Overall, the country’s infrastructure fails to meet the needs of an expanding middle class. As the 2017 Asia-Pacific Economic Cooperation (APEC) chair, Vietnam lead the dialogue on key APEC priorities such as inclusive growth, innovation, food security and climate chang
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Source
: CIA |
Company Summary
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Business Name |
MOC CHAU SERI |
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Country |
VIET NAM |
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Company Registration Number |
5500155586 |
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Main Activity Code |
1399 |
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Main Activity Description |
Manufacture of other textiles
n.e.c. |
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Company Status |
Normal (Active) |
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Latest Turnover Figure |
- |
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Latest Shareholder Equity Figure |
-159.000.000 |
Basic Information
|
Business Name |
MOC CHAU SERI |
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Registered Company Name |
MOC CHAU SERICUL TURE JSC |
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Company Registration Number |
5500155586 |
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Country |
VIET NAM |
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VAT Registration Number |
5500155586 |
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VAT Registration Date |
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Date of Company Registration |
2008-11-14 |
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Date of Starting Operations |
2008-11-14 |
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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 |
[+84] 212-3866051 [+84] 212-3866043 |
Main
Address
|
Address |
Telephone |
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Tieu Khu Nha Nghi Moc Chau Farm Moc Chau Town, Moc Chau Dist, Son La VIET NAM |
[+84] 212-3866051 [+84] 212- 3866043 |
Other
Address
|
No other addresses for
this company. |
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Previous
Address
|
Address |
Country |
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|
Km 196 National Rd 6
Nong Truong Farm Moc Chau Town, Moc
Chau Dist, |
VIET NAM |
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Activities
|
Activity Code |
Activity Description |
|
1399 |
Manufacture of other textiles
n.e.c. |
Email Addresses
N/A
Web Pages
N/A
Employee Information
|
Date Reported |
Number of Employees |
|
2018 |
128 |
Banker Information
|
Banker Name |
Banker Address |
Phone Number |
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VIETNAM BANK FOR AGRICULTURE
& RURAL DEVELOPMENT |
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VBAA |
Advisors Information
No advisor information for this company
Miscellaneous
Information
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Fax Number |
[+84] 212-3869715 |
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Export Countries |
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Import Countries |
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Additional Business Information |
Core Business: The primary business focus of MOC CHAU SERICUL TURE JSC is Manufacturing - Finished products. Key product include: Silk, An integral part of the core business includes: Distribution, Supplementary Business: In addition to the core business, MOC CHAU SERICUL TURE JSC also is engaged in the following areas of business: 1. Trading, Trading - Finished products. |
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Additional Payment Information |
Selling Type: Local Terms: Cash on delivery (COD) Credit - Secured with Post-dated checks 30~60 days. Purchasing Type: Local Terms: Credit - Secured with Post-dated checks 30~60 days Cash on delivery (COD). |
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Additional Financial Information |
Financial Statements were prepared as at 31.12.16. 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 |
128 |
Additional
Miscellaneous Information
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Primary Business Activity |
Manufacturer |
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Key Industry |
Textiles & Raw Material |
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Issuing Authority |
Department Of Planning & Investment - Son La |
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Legal Form |
Joint Stock Company |
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Legal Form – Abbreviation |
JSC |
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Capital |
US$ 57,234 |
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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: 5500155586. |
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Primary Products [Products / Materials / Services Description: Activity] |
Blankets, Carpet, Linens, Man-made fibers, Ready-made garments: Manufacturing. |
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Domestic Sales [Annual Sales Analysis: Percentage] |
Domestic Sales: 100% |
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Domestic Purchases [Annual Purchases Analysis: Percentage] |
Local Purchases: 100% |
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Reputation |
Reference checking for the purpose of establishing MOC CHAU SERICUL TURE JSC's reputation within the respective industry failed to reveal any adverse information. |
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Nega-Scan - Adverse Data Monitoring |
Dishonored Checks, Debt, Civil Litigation, Performance Defaults, Adverse Local Media Coverage / Adverse Filing History: No Record Found. |
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Office and Facilities |
The following information relates to the Business Entity's office as listed above: Name: MOC CHAU SERICUL TURE JSC - MOC CHAU DIST, SON LA, Primary Use: Office & Administration facilities, Other Use: This facility is also used for Manufacturing, Address: Tieu Khu Nha Nghi Moc Chau Farm Moc Chau Town, Moc Chau Dist, Son La, Country: Vietnam, Status: Operational. |
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Previous Contact Details |
Company Address: Km 196 National Rd 6 Nong Truong Farm Moc Chau Town, Moc Chau Dist, Son La, Date of Relocation: 13 Oct, 2016, Telephone Number: 84-22-3866051, Telephone Number: 84-22-3866043, Fax Number: 84-22-3869715. |
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 |
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Profit and Loss |
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Revenue |
13.243.000.000 |
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Operating Costs |
12.029.000.000 |
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Operating Profit |
1.214.000.000 |
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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 |
299.000.000 |
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Extraordinary Income |
- |
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Extraordinary Costs |
893.000.000 |
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Profit before Tax |
21.000.000 |
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Tax |
- |
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Profit after Tax |
21.000.000 |
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Dividends |
- |
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Minority Interests |
- |
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Other Appropriations |
- |
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Retained Profit |
21.000.000 |
Balance Sheet
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Land & Buildings |
0 |
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Other Tangible Assets |
0 |
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Total Tangible Assets |
4.818.000.000 |
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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 |
4.613.000.000 |
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Total Other Fixed Assets |
4.613.000.000 |
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Total Fixed Assets |
9.431.000.000 |
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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 |
4.240.000.000 |
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Trade Receivables |
1.703.000.000 |
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Group Receivables |
0 |
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Receivables Due after 1 year |
0 |
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Miscellaneous Receivables |
818.000.000 |
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Total Receivables |
2.521.000.000 |
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Cash |
37.000.000 |
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Other Current Assets |
0 |
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Total Current Assets |
6.798.000.000 |
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Total Assets |
16.229.000.000 |
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Trade Payables |
4.832.000.000 |
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Bank Liabilities |
0 |
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Other Loans or Finance |
3.249.000.000 |
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Group Payables |
0 |
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Miscellaneous Liabilities |
8.307.000.000 |
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Total Current Liabilities |
16.388.000.000 |
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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 |
16.388.000.000 |
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Called Up Share Capital |
1.309.000.000 |
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Share Premium |
0 |
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Revenue Reserves |
-1.468.000.000 |
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Other Reserves |
0 |
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Total Shareholders Equity |
-159.000.000 |
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Other
Financials |
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Contingent Liabilities |
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Working Capital |
-9.590.000.000 |
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Net Worth |
0 |
Ratios
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Pre Tax Profit Margin |
0.16 |
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Return On Capital Employed |
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Return On Total Assets Employed |
0.13 |
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Return On Net Assets Employed |
-13.21 |
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Sales / Net Working Capital |
-1.38 |
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Stock Turnover Ratio |
32.02 |
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Debtor Days |
46.94 |
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Creditor Days |
133.18 |
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Current Ratio |
0.41 |
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Liquidity Ratio Or Acid Test |
0.16 |
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Current Debt Ratio |
-103.07 |
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Gearing |
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Equity In Percentage |
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Total Debt Ratio |
-103.07 |
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Additional Financials |
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Gross Profit |
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Current
Directors
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||||
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Name |
Gender |
Address |
Date of Birth |
Position |
|
Hung Manh Bui |
Male |
Sector 40 Moc Chau Farm Town, Moc Chau Dist, Son La |
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Chairman |
|
Mao Van Nguyen |
Male |
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1973-01-01 |
Chief Accountant |
Previous
Directors
|
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No previous directors for this company. |
Share
Capital Structure
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Nominal Share Capital 1.300.000.000 |
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Issued Share Capital 1.300.000.000 |
Shareholders
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Shareholder |
Address |
% Shares Held |
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GOVERNMENT OF THE SOCIALIST REPUBLIC OF VIETNAM |
Vietnam |
50.6 |
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Undisclosed Shareholders |
|
34.28 |
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Mr. Hung Manh Bui |
Vietnam |
3.05 |
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Mr. Trong Duc Do |
Vietnam |
1.73 |
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Mr. Lieu Thi Nguyen |
Vietnam |
1.71 |
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Mr. Mao Van Nguyen |
Vietnam |
1.67 |
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Mr. Dau Van Pham |
Vietnam |
1.3 |
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Mr. Xiem Van Do |
Vietnam |
1.3 |
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Mr. Hai Khanh Nguyen |
Vietnam |
1.14 |
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Mr. Hoa Thi Nguyen |
Vietnam |
1.14 |
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Mr. Chinh Tien Vu |
Vietnam |
1.07 |
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Mr. Nhuan Viet Pham |
Vietnam |
1.01 |
Ultimate
Holding Parent
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||||||
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Name |
Status |
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Address |
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GOVERNMENT OF THE SOCIALIST REPUBLIC OF VIETNAM |
Active |
P1823638 |
16 Le Hong Phong Str Ba Dinh Hanoi |
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Immediate
Holding Parent
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No Immediate Holding Parent for this company. |
Subsidaries
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No subsidaries for this company. |
Affiliates
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No affiliates for this company. |
Negative
Information
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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 63.69 |
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|
1 |
INR 90.35 |
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Euro |
1 |
INR 79.21 |
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VND |
1 |
INR 0.0028 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
PRI |
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|
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Report Prepared
by : |
KET |
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.