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MIRA
INFORM REPORT
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Report No. : |
488041 |
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Report Date : |
02.02.2018 |
IDENTIFICATION DETAILS
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Name : |
UNIFARM |
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|
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Registered Office : |
97/23A Hung Phu Ward 8, District 8, 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 : |
26.07.2006 |
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Com. Reg. No.: |
0304465014 |
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Legal Form : |
Private Company with Limited
Liability |
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Line of Business : |
Growing of other tree and
bush fruits and nuts |
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No. of Employees : |
24 |
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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Maximum Credit Limit : |
200,000 USD |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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) |
|
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 |
UNIFARM |
|
Country |
VIET NAM |
|
Company Registration Number |
0304465014 |
|
Main Activity Code |
0125 |
|
Main Activity Description |
Growing of other tree and
bush fruits and nuts |
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Company Status |
Normal (Active) |
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Latest Turnover Figure |
- |
|
Latest Shareholder Equity Figure |
-7.250.000.000 |
|
Credit Limit |
200,000 USD |
Basic Information
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Business Name |
UNIFARM |
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Registered Company Name |
UNIFY FARMING CO LTD |
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Company Registration Number |
0304465014 |
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Country |
VIET NAM |
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VAT Registration Number |
0304465014 |
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VAT Registration Date |
2006-07-26 |
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Date of Company Registration |
2006-07-26 |
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Date of Starting Operations |
2006-07-26 |
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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 |
|
|
Principal Activity Description |
|
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Contact Telephone Number |
[+84] 28-39540660 |
Main Address
|
Address |
Country |
Telephone |
|
T7 Green Villa Pham Hung St,
Binh Chanh, Ho Chi Minh |
VIET NAM |
[+84] 28-39540660 |
Other Address
|
Address |
Country |
Telephone |
|
No other addresses for this
company. |
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Previous Address
|
Address |
Country |
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No previous addresses for this
company. |
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Activities
|
Activity Code |
Activity Description |
|
0125 |
Growing of other tree and
bush fruits and nuts |
Email Addresses
unifarmteam@uni-farm.com
Web Pages
http://uni-farm.com
Employee Information
|
Date Reported |
Number of Employees |
|
2018 |
24 |
Banker Information
|
Banker Name |
Banker Address |
Phone Number |
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No banker information for this
company. |
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Advisors Information
|
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] 28-39543506 |
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Export
Countries |
Asia / Pacific, Europe, Middle-East, Australia,
Belgium, Canada, China, Germany, India, Japan, Korea, South (Republic of
Korea), Malaysia, Philippines, Sri Lanka, Taiwan, USA, United Arab Emirates. |
|
Import
Countries |
Asia / Pacific |
|
Additional
Business Information |
Core Business: The primary business focus of UNIFY FARMING
CO LTD is Trading - Finished products. Key products include: Cashew nuts,
Coconut, Dragon fruits, Fertilizers, Pomelo, Rice. Supplementary Business: In
addition to the core business, UNIFY FARMING CO LTD also is engaged in the
following areas of business: 1. Exporting: Exporting - Finished products. 2.
Importing: Importing - Finished products. |
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Additional
Payment Information |
Selling: 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: 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). |
|
Additional
Financial Information |
Financial statement were prepared as at 2016-12-01
and 2015-12-01. 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 |
24 |
|
Number
of Employees at Group |
|
|
Number
of Employees at Factory |
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Additional Miscellaneous
Information
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Registered
Legal Address |
97/23A Hung Phu Ward 8, District 8, Ho Chi Minh |
|
Issuing
Authority |
Department Of Planning And Investment - Ho Chi Minh |
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Legal
Status Of The English Corporate Name |
The English name of the Subject Business Entity
(SBE) is a randomly selected translation / transliteration made by the owners
of the SBE. It is not a registered English corporate name, but simply a
translation / transliteration of the local language name. |
|
Domestic
Sales & Purchases |
Annual Sales Analysis: Domestic Sales: 60%,
International Sales (Export): 40%. Annual Purchases Analysis: Local Purchases:
70%, Imports: 30%. |
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Reputation |
Reference checking for the purpose of establishing
UNIFY FARMING CO LTD'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. |
|
Shareholders |
Not available - According to the corporate statutory
laws for this type of Legal Form - Category (Private Company with Limited
Liability) in Vietnam, there is no public disclosure of Shareholders. |
Financial
|
Financial Year |
2016-12 |
2015-12 |
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Number of Weeks |
52 |
52 |
|
Currency |
VND |
VND |
|
Consolidated Accounts |
No |
No |
Profit and Loss
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Revenue |
150.825.000.000 |
75.358.000.000 |
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Operating Costs |
149.850.000.000 |
72.781.000.000 |
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Operating Profit |
975.000.000 |
2.577.000.000 |
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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 |
10.000.000 |
5.000.000 |
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Financial Expenses |
558.000.000 |
- |
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Extraordinary Income |
- |
41.000.000 |
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Extraordinary Costs |
3.782.000.000 |
1.425.000.000 |
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Profit before Tax |
-3.355.000.000 |
1.198.000.000 |
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Tax |
- |
- |
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Profit after Tax |
-3.355.000.000 |
1.198.000.000 |
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Dividends |
- |
- |
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Minority Interests |
- |
- |
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Other Appropriations |
- |
- |
|
Retained Profit |
-3.355.000.000 |
1.198.000.000 |
Balance
Sheet
|
Land & Buildings |
0 |
0 |
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Plant & Machinery |
0 |
0 |
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Other Tangible Assets |
0 |
9.000.000 |
|
Total Tangible Assets |
0 |
9.000.000 |
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Goodwill |
0 |
0 |
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Other Intangible Assets |
0 |
0 |
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Total Intangible Assets |
0 |
0 |
|
Investments |
0 |
0 |
|
Loans to Group |
0 |
0 |
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Other Loans |
0 |
0 |
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Miscellaneous Fixed Assets |
360.000.000 |
0 |
|
Total Other Fixed Assets |
360.000.000 |
0 |
|
Total Fixed Assets |
360.000.000 |
9.000.000 |
|
Raw Materials |
0 |
0 |
|
Work in Progress |
0 |
0 |
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Finished Goods |
0 |
0 |
|
Other Inventories |
0 |
0 |
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Total Inventories |
84.063.000.000 |
47.698.000.000 |
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Trade Receivables |
21.702.000.000 |
2.132.000.000 |
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Group Receivables |
0 |
0 |
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Receivables Due after 1 year |
0 |
0 |
|
Miscellaneous Receivables |
0 |
0 |
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Total Receivables |
21.702.000.000 |
2.132.000.000 |
|
Cash |
2.706.000.000 |
966.000.000 |
|
Other Current Assets |
359.000.000 |
0 |
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Total Current Assets |
108.830.000.000 |
50.796.000.000 |
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Total Assets |
110.439.000.000 |
50.808.000.000 |
|
Trade Payables |
9.085.000.000 |
1.310.000.000 |
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Bank Liabilities |
0 |
0 |
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Other Loans or Finance |
106.571.000.000 |
0 |
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Group Payables |
0 |
0 |
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Miscellaneous Liabilities |
2.033.000.000 |
40.285.000.000 |
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Total Current Liabilities |
117.689.000.000 |
41.595.000.000 |
|
Trade Payables After 1 Year |
0 |
0 |
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Bank Liabilities After 1 Year |
0 |
0 |
|
Other Loans or Finance due
after 1 year |
0 |
0 |
|
Group Payables After 1 Year |
0 |
0 |
|
Miscellaneous Liabilities Due After
1 Year |
0 |
0 |
|
Total Long Term Liabilities |
0 |
0 |
|
Total Liabilities |
117.689.000.000 |
41.595.000.000 |
|
Called Up Share Capital |
4.800.000.000 |
4.800.000.000 |
|
Share Premium |
0 |
0 |
|
Revenue Reserves |
-12.055.000.000 |
4.413.000.000 |
|
Other Reserves |
5.000.000 |
0 |
|
Total Shareholders Equity |
-7.250.000.000 |
9.213.000.000 |
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Other Financials |
|
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Contingent Liabilities |
|
|
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Working Capital |
-8.859.000.000 |
9.201.000.000 |
|
Net Worth |
0 |
0 |
Ratios
|
Pre Tax Profit Margin |
-2.22 |
1.59 |
|
Return On Capital Employed |
|
|
|
Return On Total Assets Employed |
-3.04 |
2.36 |
|
Return On Net Assets Employed |
46.28 |
13 |
|
Sales / Net Working Capital |
-17.03 |
8.19 |
|
Stock Turnover Ratio |
55.74 |
63.3 |
|
Debtor Days |
52.52 |
10.33 |
|
Creditor Days |
21.99 |
6.35 |
|
Current Ratio |
0.92 |
1.22 |
|
Liquidity Ratio Or Acid Test |
0.21 |
0.07 |
|
Current Debt Ratio |
-16.23 |
4.51 |
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Gearing |
|
|
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Equity In Percentage |
|
|
|
Total Debt Ratio |
-16.23 |
4.51 |
Additional Financials
|
Gross Profit |
Current Directors
|
Name |
Gender |
Address |
Date of |
Position |
|
|
|
|
Birth |
|
|
My Tuyet Ton |
Female |
|
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Managing Director |
|
Son Van Hong Nguyen |
Male |
|
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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 |
4.800.000.000 |
|
Issued Share Capital |
|
Shareholders
|
Shareholder |
Address |
% Shares Held |
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No Shareholders for this company. |
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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
: |
NIY |
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
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 |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
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.