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MIRA
INFORM REPORT
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Report No. : |
487786 |
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Report Date : |
02.02.2018 |
IDENTIFICATION DETAILS
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Name : |
NAM HUY HOANG CO LTD |
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Registered Office : |
192 Ly Thuong Kiet Ward 14,
District 10, Ho Chi Minh |
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Country : |
Vietnam |
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Financials (as on) : |
December 2016 |
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Date of Incorporation : |
19.03.2004 |
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Com. Reg. No.: |
0303219591 |
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Legal Form : |
Private Company with Limited
Liability |
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Line of Business : |
Forging, pressing, stamping and
roll-forming of metal; powder metallurgy |
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No. of Employees : |
200 |
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 : |
No Complaints |
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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 (30.06.2017) |
Current Rating (30.09.2017) |
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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 |
NAM HUY HOANG CO LTD |
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Country |
VIET NAM |
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Company Registration Number |
0303219591 |
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Main Activity Code |
2550 |
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Main Activity Description |
Forging, pressing, stamping and roll-forming
of metal; powder metallurgy |
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Company Status |
Normal (Active) |
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Latest Turnover Figure |
- |
|
Latest Shareholder Equity Figure |
26.764.000.000 |
Basic Information
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Business Name |
NAM HUY HOANG CO LTD |
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Registered Company Name |
NAM HUY HOANG CO LTD |
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Company Registration Number |
0303219591 |
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Country |
VIET NAM |
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VAT Registration Number |
0303219591 |
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VAT Registration Date |
2004-03-19 |
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Date of Company Registration |
2004-04-07 |
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Date of Starting Operations |
2004-04-07 |
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Commercial Court |
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Legal Form |
Private Company with Limited Liability |
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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] 28-38685012 [+84] 28-38666875 |
Main Address
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Address |
Country |
Telephone |
|
192 Ly Thuong Kiet Ward 14,
District 10, Ho Chi Minh |
VIETNAM |
[+84] 28-38685012 [+84] 28- |
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|
|
38666875 |
Other Address
|
Address |
Country |
Telephone |
|
Lot C2,4 D1 St Dong An
2 Industrial Zone, Thu Dau Mot,
Binh Duong |
VIET NAM |
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Previous Address
|
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 |
|
2550 |
Forging, pressing, stamping and
roll-forming of metal; powder metallurgy |
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 |
|
2018 |
200 |
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 |
[+84] 28-38645936 |
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Export
Countries |
Asia / Pacific, Cambodia, China, Laos, Thailand. |
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Import
Countries |
Asia / Pacific, Europe, China, India, Italy, Japan. |
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Additional
Business Information |
Core Business The primary business focus of NAM HUY
HOANG CO LTD is Manufacturing Finished products. Key product include :
Stainless steel Supplementary Business In addition to the core business, NAM
HUY HOANG CO LTD also is engaged in the following areas of business: 1.
Exporting Finished products 2. Importing Raw materials 3. Tradin, Finished
products. |
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Additional
Payment Information |
Selling: Type Terms, Local Cash on delivery (COD),
Credit - Secured with Post-dated checks 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 -
Secured with Post-dated checks 30~60 days. Cash on delivery (COD) |
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Additional
Financial Information |
Financial Statement 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 Private Company with Limited Liability 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 |
200 |
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Number of Employees at Group |
|
|
Number of Employees at Factory |
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Additional Miscellaneous
Information
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Registered
Legal Address |
877-879
Hong Bang Ward 9, District 6, Ho Chi Minh |
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Issuing
Authority |
DEPARTMENT
OF PLANNING AND INVESTMENT - Ho Chi Minh |
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Note |
(1)
In Vietnam, when changes occur in the statutory records of an existing
company, a new business license number is issued which links the new changes
to a new license number. Such changes have occurred with the Subject Business
Entity. Accordingly, there are two different "Dates of
Registration", one being the original Date of Registration, and the
other being the most recent Date of issuance of the new License. Details of
the various previous License dates (if available) and the corresponding
License numbers,
are listed in PREVIOUS BUSINESS LICENSE/S below. |
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Previous
Business License/S |
License
Date License No. n/a 4102020843 |
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Domestic
Sales & Purchases (Annual Sales Analysis, Percentage, Annual Purchases
Analysis) |
Domestic
Sales: 90%, International Sales (Export): 10%, Local Purchases: 20%, Imports:
80%. |
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Reputation |
Reference
checking for the purpose of establishing NAM HUY HOANG CO LTD'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. |
Financial
|
Financial
Year |
2016-12 |
2015-12 |
2014-12 |
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Number
of Weeks |
52 |
52 |
52 |
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Currency |
VND |
VND |
VND |
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Consolidated
Accounts |
No |
No |
No |
Profit and Loss
|
Revenue |
316.645.000.000 |
358.697.000.000 |
253.106.000.000 |
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Operating
Costs |
313.330.000.000 |
350.926.000.000 |
249.025.000.000 |
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Operating
Profit |
3.315.000.000 |
7.771.000.000 |
4.081.000.000 |
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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 |
103.000.000 |
105.000.000 |
14.000.000 |
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Financial
Expenses |
1.276.000.000 |
2.436.000.000 |
979.000.000 |
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Extraordinary
Income |
11.000.000 |
54.000.000 |
46.000.000 |
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Extraordinary
Costs |
- |
315.000.000 |
1.000.000 |
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Profit
before Tax |
2.153.000.000 |
5.179.000.000 |
3.161.000.000 |
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Tax |
159.000.000 |
1.139.000.000 |
696.000.000 |
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Profit
after Tax |
1.994.000.000 |
4.040.000.000 |
2.465.000.000 |
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Dividends |
- |
- |
- |
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Minority
Interests |
- |
- |
- |
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Other
Appropriations |
- |
- |
- |
|
Retained
Profit |
1.994.000.000 |
4.040.000.000 |
2.465.000.000 |
Balance
Sheet
|
Land & Buildings |
0 |
0 |
0 |
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Plant & Machinery |
0 |
0 |
0 |
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Other Tangible Assets |
59.439.000.000 |
53.483.000.000 |
51.249.000.000 |
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Total Tangible Assets |
59.439.000.000 |
53.483.000.000 |
51.249.000.000 |
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Goodwill |
0 |
0 |
0 |
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Other Intangible Assets |
0 |
10.056.000.000 |
10.265.000.000 |
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Total Intangible Assets |
0 |
10.056.000.000 |
10.265.000.000 |
|
Investments |
0 |
0 |
0 |
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Loans to Group |
0 |
0 |
0 |
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Other Loans |
0 |
0 |
0 |
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Miscellaneous Fixed Assets |
755.000.000 |
910.000.000 |
0 |
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Total Other Fixed Assets |
755.000.000 |
910.000.000 |
0 |
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Total Fixed Assets |
60.194.000.000 |
64.449.000.000 |
61.514.000.000 |
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Raw Materials |
0 |
0 |
0 |
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Work in Progress |
0 |
0 |
0 |
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Finished Goods |
0 |
0 |
0 |
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Other Inventories |
56.221.000.000 |
56.513.000.000 |
64.593.000.000 |
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Total Inventories |
56.221.000.000 |
56.513.000.000 |
64.593.000.000 |
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Trade Receivables |
33.768.000.000 |
77.008.000.000 |
47.328.000.000 |
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Group Receivables |
0 |
0 |
0 |
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Receivables Due after 1 year |
0 |
0 |
0 |
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Miscellaneous Receivables |
0 |
0 |
0 |
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Total Receivables |
33.768.000.000 |
77.008.000.000 |
47.328.000.000 |
|
Cash |
101.000.000 |
467.000.000 |
4.828.000.000 |
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Other Current Assets |
8.293.000.000 |
637.000.000 |
10.669.000.000 |
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Total Current Assets |
98.383.000.000 |
134.625.000.000 |
127.418.000.000 |
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Total Assets |
158.577.000.000 |
199.074.000.000 |
188.932.000.000 |
|
Trade Payables |
4.454.000.000 |
3.291.000.000 |
47.459.000.000 |
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Bank Liabilities |
0 |
0 |
0 |
|
Other Loans or Finance |
3.190.000.000 |
41.160.000.000 |
8.605.000.000 |
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Group Payables |
0 |
0 |
0 |
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Miscellaneous Liabilities |
34.078.000.000 |
121.857.000.000 |
32.081.000.000 |
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Total Current Liabilities |
41.722.000.000 |
166.308.000.000 |
88.145.000.000 |
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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 |
90.091.000.000 |
208.000.000 |
90.000.000.000 |
|
Total Long Term Liabilities |
90.091.000.000 |
208.000.000 |
90.000.000.000 |
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Total Liabilities |
131.813.000.000 |
166.516.000.000 |
178.145.000.000 |
|
Called Up Share Capital |
0 |
0 |
0 |
|
Share Premium |
0 |
0 |
0 |
|
Revenue Reserves |
0 |
0 |
0 |
|
Other Reserves |
26.764.000.000 |
32.558.000.000 |
10.787.000.000 |
|
Total Shareholders Equity |
26.764.000.000 |
32.558.000.000 |
10.787.000.000 |
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Other Financials Contingent Liabilities |
|
|
|
|
Working Capital |
56.661.000.000 |
-31.683.000.000 |
39.273.000.000 |
|
Net Worth |
0 |
22.502.000.000 |
522.000.000 |
Ratios
|
Pre Tax Profit Margin |
0.68 |
1.44 |
1.25 |
|
Return On Capital Employed |
1.84 |
15.81 |
3.14 |
|
Return On Total Assets Employed |
1.36 |
2.6 |
1.67 |
|
Return On Net Assets Employed |
8.04 |
15.91 |
29.3 |
|
Sales / Net Working Capital |
5.59 |
-11.32 |
6.44 |
|
Stock Turnover Ratio |
17.76 |
15.76 |
25.52 |
|
Debtor Days |
38.92 |
78.36 |
68.25 |
|
Creditor Days |
5.13 |
3.35 |
68.44 |
|
Current Ratio |
2.36 |
0.81 |
1.45 |
|
Liquidity Ratio Or Acid Test |
1.01 |
0.47 |
0.71 |
|
Current Debt Ratio |
1.56 |
5.11 |
8.17 |
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Gearing |
|
|
|
|
Equity In Percentage |
|
17.22 |
6.04 |
|
Total Debt Ratio |
4.93 |
5.11 |
16.51 |
Additional Financials
|
Gross
Profit |
Current Directors
|
Name |
Gender |
Address |
Date of Birth |
Position |
|
Truy Duc Bui |
Male |
|
|
Managing Director Director |
|
Tu Cam Thi Nguyen |
Female |
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Chief Accountant |
Previous Directors
|
Name |
Gender |
Address |
Date of Birth |
Position |
Resignation Date |
|
No previous directors for this
company. |
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Share Capital Structure
|
Nominal Share Capital |
24.000.000.000 |
|
Issued Share Capital |
24.000.000.000 |
Shareholders
|
Shareholder |
Address |
% Shares Held |
|
Mr. Truy Duc Bui |
Vietnam |
60 |
|
Ms. Phuong Thi Le |
Vietnam |
40 |
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 63.61 |
|
|
1 |
INR 89.32 |
|
Euro |
1 |
INR 78.95 |
|
VND |
1 |
INR 0.0028 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
TRU |
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.