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MIRA
INFORM REPORT
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Report No. : |
488509 |
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Report Date : |
05.02.2018 |
IDENTIFICATION DETAILS
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Name : |
HASON CO LTD |
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|
|
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Registered Office : |
226 Hoang Van Thai St Khuong Mai Ward, Thanh Xuan,
Hanoi |
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Country : |
Vietnam |
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Financials (as on) : |
December 2016 |
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Date of Incorporation : |
13.08.2001 |
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Com. Reg. No.: |
0101151615 |
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Legal Form : |
Private Company with Limited Liability |
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Line of Business : |
Wholesale of Fruit and Vegetables |
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No. of Employees : |
25 |
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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
Vietnam |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
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.
|
Source
: CIA |
Company Summary |
|
|
Business Name |
HA SON |
|
Country |
VIET NAM |
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Company Registration Number |
0101151615 |
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Main Activity Code |
4631 |
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Main Activity Description |
Wholesale of fruit and vegetables |
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Company Status |
Normal (Active) |
|
Latest Turnover Figure |
- |
|
Latest Shareholder Equity Figure |
5.357.000.000 |
Basic Information |
|
|
Business
Name |
HA SON |
|
Registered
Company Name |
HASON CO LTD |
|
Company
Registration Number |
0101151615 |
|
Country |
VIET NAM |
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VAT
Registration Number |
0101151615 |
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VAT
Registration Date |
2001-08-13 |
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Date
of Company Registration |
2007-11-01 |
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Date
of Starting Operations |
2007-11-01 |
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Commercial Court
|
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|
Legal Form |
Private Company with Limited Liability |
|
Company Status |
Normal (Active) |
|
Contact
Telephone Number |
[+84] 24-38535476 |
Main Address |
||
|
Address |
Country |
Telephone |
|
226 Hoang Van Thai St Khuong Mai Ward, Thanh Xuan,
Hanoi |
VIET NAM |
[+84] 24-38535476 |
Other Address |
|
No other addresses for this company. |
Previous Address |
|
No previous addresses for this company. |
Activities |
|
Activity Code Activity Description |
|
4631 Wholesale of fruit and vegetables |
Email Addresses |
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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 25 |
Banker Information |
|
No banker information for this company. |
Advisors Information |
|
No advisor information for this company. |
Miscellaneous Information |
|
|
Fax Number |
N/A |
|
Export Countries |
Asia / Pacific, India |
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Import Countries |
|
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Additional Business Information |
Core Business: The primary business focus of HASON
CO LTD is Exporting - Finished products. Key products include: Anise,
Agricultural products, Cinnamon, An integral part of the core business
includes: Distribution. |
|
Additional Rating Information |
Good Credit Quality: Credit can proceed on a
favorable basis but in strict adherence to financig terms. Proposed Credit
Limit: USD $100,000. 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: Local
Terms: Credit - Unsecured 30~60
days, Cash on delivery (COD). |
|
Additional Financial Information |
Financial Statements were prepared as at
2016.12.31, 2015.12.31 and 2014.12.31. |
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Number of Employees at Address |
25 |
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Number of Employees at Group |
|
|
Number of Employees at Factory |
|
Additional Miscellaneous Information |
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Primary Business Activity |
Exporter |
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Key Industry |
Agricultural Products |
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Issuing Authority |
DEPARTMENT OF PLANNING & INVESTMENT – Hanoi |
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Note |
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. 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. |
|
Operating Address |
226 Hoang Van Thai St Khuong Mai Ward, Thanh Xuan,
Hanoi |
|
Tax / VAT Details |
Tax Issuing Authority |
|
Previous Business License/S |
License Date: License No. 1 Aug, 2001: 0102003120 |
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Primary Products (Products / Materials Agricultural products, Anise, Cinnamon: Exporting / Services Description: Activity) |
|
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Domestic Sales & Purchases |
Annual Sales Analysis: Percentage Domestic Sales:
0% International Sales (Export): 100% Annual Purchases Analysis: Percentage
Local Purchases: 100% Imports: 0% |
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Reputation |
Reference checking for the purpose of establishing
HASON 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 |
|
Office & Facilities |
The following information relates to the
Business Entity's office
as listed above:
Name: HASON CO LTD - THANH
XUAN, HANOI Primary Use: Office & Administration
facilities Address: 226 Hoang Van Thai St Khuong
Mai Ward, Thanh Xuan, Hanoi
Country: Vietnam Status: Operational |
|
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 |
46.346.000.000 |
60.928.000.000 |
39.088.000.000 |
|
Operating Costs |
43.642.000.000 |
56.212.000.000 |
35.946.000.000 |
|
Operating Profit |
2.704.000.000 |
4.716.000.000 |
3.142.000.000 |
|
Wages & Salaries |
- |
- |
- |
|
Pension Costs |
- |
- |
- |
|
Depreciation |
- |
- |
- |
|
Amortisation |
- |
- |
- |
|
Financial Income |
1.000.000 |
- |
- |
|
Financial Expenses |
471.000.000 |
446.000.000 |
- |
|
Extraordinary Income |
- |
- |
- |
|
Extraordinary Costs |
2.072.000.000 |
3.513.000.000 |
2.666.000.000 |
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Profit before Tax |
162.000.000 |
757.000.000 |
476.000.000 |
|
Tax |
32.000.000 |
167.000.000 |
104.000.000 |
|
Profit after Tax |
130.000.000 |
590.000.000 |
372.000.000 |
|
Dividends |
- |
- |
- |
|
Minority Interests |
- |
- |
- |
|
Other Appropriations |
- |
- |
- |
|
Retained Profit |
130.000.000 |
590.000.000 |
372.000.000 |
Balance Sheet |
|||
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Land & Buildings |
0 |
0 |
0 |
|
Plant & Machinery |
0 |
0 |
0 |
|
Other Tangible Assets |
956.000.000 |
1.072.000.000 |
1.243.000.000 |
|
Total Tangible Assets |
956.000.000 |
1.072.000.000 |
1.243.000.000 |
|
Goodwill |
0 |
0 |
0 |
|
Other Intangible Assets |
0 |
0 |
0 |
|
Total Intangible Assets |
0 |
0 |
0 |
|
Investments |
0 |
0 |
0 |
|
Loans to Group |
0 |
0 |
0 |
|
Other Loans |
0 |
0 |
0 |
|
Miscellaneous Fixed Assets |
0 |
0 |
18.000.000 |
|
Total Other Fixed Assets |
0 |
0 |
18.000.000 |
|
Total Fixed Assets |
956.000.000 |
1.072.000.000 |
1.261.000.000 |
|
Raw Materials |
0 |
0 |
0 |
|
Work in Progress |
0 |
0 |
0 |
|
Finished Goods |
0 |
0 |
0 |
|
Other Inventories |
0 |
0 |
0 |
|
Total Inventories |
6.656.000.000 |
19.063.000.000 |
19.832.000.000 |
|
Trade Receivables |
3.780.000.000 |
14.437.000.000 |
5.071.000.000 |
|
Group Receivables |
0 |
0 |
0 |
|
Receivables Due after 1 year |
0 |
0 |
0 |
|
Miscellaneous Receivables |
0 |
0 |
0 |
|
Total Receivables |
3.780.000.000 |
14.437.000.000 |
5.071.000.000 |
|
Cash |
2.845.000.000 |
3.363.000.000 |
5.631.000.000 |
|
Other Current Assets |
390.000.000 |
351.000.000 |
302.000.000 |
|
Total Current Assets |
13.671.000.000 |
37.214.000.000 |
30.836.000.000 |
|
Total Assets |
14.627.000.000 |
38.286.000.000 |
32.097.000.000 |
|
Trade Payables |
579.000.000 |
18.375.000.000 |
2.187.000.000 |
|
Bank Liabilities |
0 |
0 |
0 |
|
Other Loans or Finance |
0 |
0 |
0 |
|
Group Payables |
0 |
0 |
0 |
|
Miscellaneous Liabilities |
66.000.000 |
176.000.000 |
84.000.000 |
|
Total Current Liabilities |
9.270.000.000 |
32.371.000.000 |
26.953.000.000 |
|
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 |
0 |
0 |
0 |
|
Total Long Term Liabilities |
0 |
0 |
0 |
|
Total Liabilities |
9.270.000.000 |
32.371.000.000 |
26.953.000.000 |
|
Called Up Share Capital |
4.620.000.000 |
4.800.000.000 |
4.620.000.000 |
|
Share Premium |
0 |
0 |
0 |
|
Revenue Reserves |
737.000.000 |
1.115.000.000 |
0 |
|
Other Reserves |
0 |
0 |
524.000.000 |
|
Total Shareholders Equity |
5.357.000.000 |
5.915.000.000 |
5.144.000.000 |
Other Financials |
|||
|
Contingent Liabilities |
|||
|
Working Capital |
4.401.000.000 |
4.843.000.000 |
3.883.000.000 |
|
Net Worth |
0 |
0 |
0 |
Ratios |
|||
|
Pre Tax Profit Margin |
0.35 |
1.24 |
1.22 |
|
Return On Capital Employed |
|||
|
Return On Total Assets Employed |
1.11 |
1.98 |
1.48 |
|
Return On Net Assets Employed |
3.02 |
12.8 |
9.25 |
|
Sales / Net Working Capital |
10.53 |
12.58 |
10.07 |
|
Stock Turnover Ratio |
14.36 |
31.29 |
50.74 |
|
Debtor Days |
29.77 |
86.49 |
47.35 |
|
Creditor Days |
4.56 |
110.08 |
20.42 |
|
Current Ratio |
1.47 |
1.15 |
1.14 |
|
Liquidity Ratio Or Acid Test |
0.76 |
0.56 |
0.41 |
|
Current Debt Ratio |
1.73 |
5.47 |
5.24 |
|
Gearing |
|||
|
Equity In Percentage |
|||
|
Total Debt Ratio |
1.73 |
5.47 |
5.24 |
Additional Financials |
|
Gross Profit |
Current Directors |
||||
|
Name |
Gender |
Address |
Date of Birth |
Position |
|
Lieu Danh Duong |
Male |
Vietnamese |
1949-01-01 |
Managing Director |
Previous Directors |
|
No previous directors for this company. |
Share Capital Structure |
|
Nominal Share Capital 4.800.000.000 |
|
Issued Share Capital 4.800.000.000 |
Shareholders |
||
|
Shareholder |
Address |
% Shares Held |
|
Mr. Lieu Danh Duong |
Vietnam |
60 |
|
Mr. Thanh Truong Duong |
Vietnam |
20 |
|
Mr. Toan Thi Duong |
Vietnam |
20 |
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 64.07 |
|
|
1 |
INR 91.34 |
|
Euro |
1 |
INR 80.03 |
|
VND |
1 |
INR 0.0028 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
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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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.