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|
MIRA INFORM REPORT
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Report No. : |
491259 |
|
Report Date : |
09.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
HYOSUNG VIETNAM CO LTD |
|
|
|
|
Registered Office : |
Nhon Trach 5 Industrial Zone Hiep Phuoc Commune Rd 2, Nhon
Trach Dist, Bien Hoa, Dong Nai |
|
|
|
|
Country : |
Viet Nam |
|
|
|
|
Financials (as on) : |
December 2016 |
|
|
|
|
Date of Incorporation : |
06.03.2003 |
|
|
|
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Com. Reg. No.: |
3600890952 |
|
|
|
|
Legal Form : |
Private Company with Limited Liability |
|
|
|
|
Line of Business : |
Wholesale of Textiles |
|
|
|
|
No. of Employees : |
5000 (2017) |
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 |
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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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
Viet Nam |
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 |
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, 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 was 6.2%, 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 will lead the dialogue on key APEC priorities such as inclusive growth, innovation, food security and climate change.
|
Source
: CIA |
Company
Summary
|
Business Name |
HYOSUNG VIETNAM CO LTD |
|
Country |
VIET NAM |
|
Company Registration Number |
3600890952 |
|
Main Activity Code |
4641 |
|
Main Activity Description |
Wholesale of textiles |
|
Company Status |
Normal (Active) |
|
Latest Turnover Figure |
- |
|
Latest Shareholder Equity Figure |
6.991.567.000.000 |
Basic
Information
|
Business Name |
HYOSUNG VIETNAM CO LTD |
|
Registered Company Name |
HYOSUNG VIETNAM CO LTD |
|
Company Registration Number |
3600890952 |
|
Country |
VIET NAM |
|
VAT Registration Number |
3600890952 |
|
VAT Registration Date |
2007-05-28 |
|
Date of Company Registration |
2016-03-04 |
|
Date of Starting Operations |
2016-03-04 |
|
Legal Form |
Private Company with Limited Liability |
|
Type of Ownership |
Registered ownership by a related third party |
|
Company Status |
Normal (Active) |
|
Contact Telephone Number |
[+84] 251-3566100 [+84] 251-3566000 [+84] 251-3569455 [+84] 251-3569446 [+84] 251-3569472 |
Main
Address
|
Address |
Country |
Telephone |
|
Nhon Trach 5 Industrial Zone Hiep Phuoc Commune Rd 2, Nhon Trach Dist, Bien Hoa, Dong Nai |
VIET NAM |
[+84] 251-3566100 [+84] 251- |
|
|
|
3566000 [+84] 251-3569455 [+84], 251-3569446 [+84] 251-3569472 |
Other
Address
No other addresses for this company.
Previous
Address
|
Address Country |
|
65 Nguyen Du St Ben Nghe Ward, District 1, Ho Chi Minh VIET NAM |
Activities
|
Activity Code Activity Description |
|
4641 Wholesale of textiles |
Email
Addresses
phuongdang@hyosung.com
Web
Pages
http://www.hyosung.com
Employee
Information
|
Date Reported
Number of Employees |
|
2017 5000 |
Banker
Information
|
Banker Name Banker Address Phone Number |
|
HANA BANK HNBN |
Advisors
Information
No advisor information for this company.
Miscellaneous
Information
|
Fax Number |
[+84] 251-3569447 [+84] 251-3569448 [+84] 251-3569229 [+84] 251-3569230 |
|
Export Countries |
Asia / Pacific, Europe, North America, Korea, South (Republic of Korea), USA |
|
Import Countries |
Asia / Pacific, Europe, China, Germany, Italy, Korea, South (Republic of Korea) |
|
Additional Business Information |
Core Business: The primary business focus of HYOSUNG VIETNAM CO LTD is Manufacturing - Finished products. Key products include: Fabric, Fibers, Garments, Industrial material, Polyester, An integral part of the core business includes: Distribution, Supplementary Business: In addition to the core business, HYOSUNG VIETNAM CO LTD also is engaged in the following areas of business: 1. Exporting, Exporting - Finished products, 2. Importing, Importing - Raw materials. |
|
Additional Payment Information |
Selling: Local: Type Terms: 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: Local: Type Terms: Credit - Secured with Post-dated checks 30~60 days Cash on delivery (COD). Import: Letter of Credit (At-sight) Telegraphic Transfer (T/T) - Executed at time of transaction. |
|
Additional Financial Information |
Financial statement were prepared as at 31.12.16,31.12.15 And 31.12.14. 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. |
|
Number of Employees at Address |
5000 |
Additional
Miscellaneous Information
|
Primary Business Activity |
Manufacturer |
|
Key Industry |
Textiles & Raw Material |
|
Issuing Authority |
DEPT. OF PLANNING & INVESTMENT - Dong Nai |
|
Legal Form |
Company Limited |
|
Legal Form – Abbreviation |
CO LTD |
|
Capital |
US$ 69,400,000 |
|
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 and the corresponding License numbers, are listed in PREVIOUS BUSINESS LICENSE/S below. |
|
Tax / VAT Details |
Tax Issuing Authority: MINISTRY OF FINANCE; Acronym: GTGT / VAT, GTGT / VAT Number: 3600890952, Date of Issuance: 28 May, 2007 |
|
Previous Business License/S [License Date: License No.] |
6 Mar, 2003: 1740/GP, 22 May, 2007: 472043000143 , 28 Nov, 2007: 472023000143 |
|
Primary Products [Products / Materials/ Services Description: Activity] |
Fabric, Fibers, Garments, Industrial material, Polyester: Manufacturing, Exporting |
|
Domestic Sales [Annual Sales Analysis: Percentage] |
Domestic Sales: 10%, International Sales (Export): 90% |
|
Domestic Purchases [Annual Purchases Analysis: Percentage] |
Local Purchases: 20%, Imports: 80% |
|
Reputation |
Reference checking for the purpose of establishing HYOSUNG VIETNAM 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. |
|
Bank Details |
Bank Name: HSBC BANK (VIETNAM) LTD, Global Identifier: 32403760, Branch Address: Metropolitan 235 Dong Khoi Ben Nghe Ward, District 1, Ho Chi Minh, SWIFT Code: HSBCVNVX, Bank Name: INDUSTRIAL BANK OF KOREA, Global Identifier: P0079100, Branch: INDUSTRIAL BANK OF KOREA HOCHIMINH CITY BRANCH - HANOI, Branch Address: Hanoi, SWIFT Code: IBKOVNV1, Bank Name: JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM, Global Identifier: 32400479, Branch: JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM - NHON TRACH, Branch Address: NHON TRACH, SWIFT Code: BFTVVNVX, Bank Name: KEXIM VIETNAM LEASING CO LTD, Global Identifier: P0077624, SWIFT Code: This bank does not have a SWIFT Code, Bank Name: KOOKMIN BANK HO CHI MINH CITY, Global Identifier: P3315832, SWIFT Code: CZNBVNVX, Bank Name: SHINHAN VIETNAM BANK LTD, Global Identifier: P1885646, Branch: SHINHAN VIETNAM BANK LTD - DONG NAI, Branch Address: Dong Nai, SWIFT Code: This bank does not have a SWIFT Code, Bank Name: STANDARD CHARTERED BANK, Global Identifier: 32407088, Branch: STANDARD CHARTERED BANK - HO CHI MINH, Branch Address: Ho Chi Minh, SWIFT Code: SCBLVNVX, Bank Name: VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY & TRADE, Global Identifier: 32404058, Branch: VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE - NHON TRACH DIST, DONG NAI, Branch Address: Nhon Trach Dist, Dong Nai, SWIFT Code: ICBVVNVX, Bank Name: WOORI BANK, Global Identifier: P0271354, Branch: WOORI BANK - HANOI, Branch Address: Hanoi, SWIFT Code: HVBKVN2X, Bank Name: WOORI BANK, Global Identifier: P0271354, Branch: WOORI BANK - HO CHI MINH, Branch Address: Ho Chi Minh, SWIFT Code: HVBKVN2X. |
|
Local Branches & Management |
Branch: HYOSUNG VIETNAM CO LTD - DISTRICT 1, HO CHI MINH, Branch Address: 45A Ly Tu Trong St Ben Nghe Ward, District 1, Ho Chi Minh. |
|
International Trade - Statistics (Currency: USD - US Dollar) [Year: Imports: Exports: Total] |
2008: n/a, 39,597,183, 39,597,183, 2009: n/a, 180,698,004, 180,698,004, 2010: n/a, 285,728,297, 285,728,297, 2011: n/a, 477,062,175, 477,062,175, 2012: n/a, 584,085,118, 584,085,118. |
|
Office and Facilities |
The following information relates to the Business Entity's office as listed above: Name: HYOSUNG VIETNAM CO LTD - NHON TRACH DIST, BIEN HOA, Primary Use: Office & Administration facilities, Other Use: This facility is also used for Manufacturing, Building Size: 600,467 Square meters, Address: Nhon Trach 5 Industrial Zone Hiep Phuoc Commune Rd 2, Nhon Trach Dist, Bien Hoa, Dong Nai, Country: Vietnam, Status: Operational. |
|
Previous Contact Details |
E-mail: phuongdang.glj@gmail.com, Company Address: 65 Nguyen Du St Ben Nghe Ward, District 1, Ho Chi Minh, Telephone Number: 84-8-38229309 |
Financial
|
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 |
21.593.693.000.000 |
22.323.755.000.000 |
20.899.796.000.000 |
|
|
Operating Costs |
15.920.999.000.000 |
16.246.155.000.000 |
15.939.642.000.000 |
|
|
Operating Profit |
5.672.694.000.000 |
6.077.600.000.000 |
4.960.154.000.000 |
|
|
Wages & Salaries |
- |
- |
- |
|
|
Pension Costs |
- |
- |
- |
|
|
Depreciation |
- |
- |
- |
|
|
Amortisation |
- |
- |
- |
|
|
Financial Income |
- |
- |
- |
|
|
Financial Expenses |
- |
- |
- |
|
|
Extraordinary Income |
47.222.000.000 |
37.579.000.000 |
427.875.000.000 |
|
|
Extraordinary Costs |
2.646.710.000.000 |
2.827.081.000.000 |
3.060.275.000.000 |
|
|
Profit before Tax |
3.073.206.000.000 |
3.288.098.000.000 |
2.327.754.000.000 |
|
|
Tax |
233.967.000.000 |
365.102.000.000 |
177.255.000.000 |
|
|
Profit after Tax |
2.839.239.000.000 |
2.922.996.000.000 |
2.150.499.000.000 |
|
|
Dividends |
- |
- |
- |
|
|
Minority Interests |
- |
- |
- |
|
|
Other Appropriations |
- |
- |
- |
|
|
Retained Profit |
2.839.239.000.000 |
2.922.996.000.000 |
2.150.499.000.000 |
|
|
Balance Sheet |
|
|
|
|
|
Land & Buildings |
0 |
0 |
0 |
|
|
Plant & Machinery |
0 |
0 |
0 |
|
|
Other Tangible Assets |
0 |
0 |
0 |
|
|
Total Tangible Assets |
9.693.789.000.000 |
10.726.912.000.000 |
11.595.769.000.000 |
|
|
Goodwill |
0 |
0 |
0 |
|
|
Other Intangible Assets |
0 |
0 |
0 |
|
|
Total Intangible Assets |
595.159.000.000 |
157.352.000.000 |
181.483.000.000 |
|
|
Investments |
0 |
0 |
0 |
|
|
Loans to Group |
0 |
0 |
0 |
|
|
Other Loans |
0 |
0 |
0 |
|
|
Miscellaneous Fixed Assets |
411.661.000.000 |
1.735.529.000.000 |
1.186.249.000.000 |
|
|
Total Other Fixed Assets |
411.661.000.000 |
1.735.529.000.000 |
1.186.249.000.000 |
|
|
Total Fixed Assets |
10.700.609.000.000 |
12.619.793.000.000 |
12.963.501.000.000 |
|
|
Raw Materials |
0 |
0 |
0 |
|
|
Work in Progress |
0 |
0 |
0 |
|
|
Finished Goods |
0 |
0 |
0 |
|
|
Other Inventories |
0 |
0 |
0 |
|
|
Total Inventories |
2.728.174.000.000 |
2.647.753.000.000 |
2.665.035.000.000 |
|
|
Trade Receivables |
0 |
4.034.975.000.000 |
326.955.000.000 |
|
|
Group Receivables |
0 |
0 |
0 |
|
|
Receivables Due after 1 year |
0 |
0 |
0 |
|
|
Miscellaneous Receivables |
4.102.548.000.000 |
375.129.000.000 |
240.930.000.000 |
|
|
Total Receivables |
4.102.548.000.000 |
4.410.104.000.000 |
567.885.000.000 |
|
|
Cash |
154.635.000.000 |
145.292.000.000 |
619.002.000.000 |
|
|
Other Current Assets |
0 |
0 |
0 |
|
|
Total Current Assets |
6.985.357.000.000 |
7.203.149.000.000 |
3.851.922.000.000 |
|
|
Total Assets |
17.685.966.000.000 |
19.822.942.000.000 |
16.815.423.000.000 |
|
|
Trade Payables |
2.645.052.000.000 |
2.520.391.000.000 |
30.131.358.000.000 |
|
|
Bank Liabilities |
0 |
0 |
0 |
|
|
Other Loans or Finance |
6.989.436.000.000 |
9.155.895.000.000 |
3.714.013.000.000 |
|
|
Group Payables |
0 |
0 |
0 |
|
|
Miscellaneous Liabilities |
50.243.000.000 |
252.692.000.000 |
-26.644.189.000.000 |
|
|
Total Current Liabilities |
9.684.731.000.000 |
11.928.978.000.000 |
7.201.182.000.000 |
|
|
Trade Payables After 1 Year |
0 |
0 |
0 |
|
|
Bank Liabilities After 1 Year |
0 |
0 |
0 |
|
|
Other Loans or Finance due after 1 year |
1.008.199.000.000 |
1.038.702.000.000 |
4.620.835.000.000 |
|
|
Group Payables After 1 Year |
0 |
0 |
0 |
|
|
Miscellaneous Liabilities Due After 1 Year |
0 |
0 |
0 |
|
|
Total Long Term Liabilities |
1.008.199.000.000 |
1.038.702.000.000 |
4.620.835.000.000 |
|
|
Total Liabilities |
10.692.930.000.000 |
12.967.680.000.000 |
11.822.017.000.000 |
|
|
Called Up Share Capital |
6.991.567.000.000 |
6.844.427.000.000 |
4.993.406.000.000 |
|
|
Share Premium |
0 |
0 |
0 |
|
|
Revenue Reserves |
5.673.244.000.000 |
5.515.336.000.000 |
3.729.396.000.000 |
|
|
Other Reserves |
1.318.323.000.000 |
1.329.091.000.000 |
1.264.010.000.000 |
|
|
Total Shareholders Equity |
6.991.567.000.000 |
6.844.427.000.000 |
4.993.406.000.000 |
|
|
Other Financials |
|
|
|
|
|
Working Capital |
-2.699.374.000.000 |
-4.725.829.000.000 |
-3.349.260.000.000 |
|
|
Net Worth |
6.396.408.000.000 |
6.687.075.000.000 |
4.811.923.000.000 |
|
|
Ratios |
|
|
|
|
|
Pre Tax Profit Margin |
14.23 |
14.73 |
11.14 |
|
|
Return On Capital Employed |
38.42 |
41.71 |
24.21 |
|
|
Return On Total Assets Employed |
17.38 |
16.59 |
13.84 |
|
|
Return On Net Assets Employed |
43.96 |
48.04 |
46.62 |
|
|
Sales / Net Working Capital |
-8 |
-4.72 |
-6.24 |
|
|
Stock Turnover Ratio |
12.63 |
11.86 |
12.75 |
|
|
Debtor Days |
|
65.97 |
5.71 |
|
|
Creditor Days |
44.71 |
41.21 |
526.22 |
|
|
Current Ratio |
0.72 |
0.6 |
0.53 |
|
|
Liquidity Ratio Or Acid Test |
0.44 |
0.38 |
0.16 |
|
|
Current Debt Ratio Gearing |
1.39 |
1.74 |
1.44 |
|
|
Equity In Percentage |
40.91 |
34.8 |
30.02 |
|
|
Total Debt Ratio |
1.53 |
1.89 |
2.37 |
|
Additional
Financials
Gross Profit
Current
Directors
|
Name |
Gender |
Date of Birth |
Position |
|
|
|
Chi-Hyung Kim |
Male |
1961-11-23 |
Managing Director (2016-01-01) |
||
|
Phuong Buu Dang |
Male |
1976-01-01 |
Chief Accountant |
||
Previous
Directors
No previous directors for this company.
Share
Capital Structure
|
Nominal Share Capital |
|
Issued Share Capital |
Shareholders
|
Shareholder |
Address |
% Shares Held |
|
HYOSUNG CORP |
Korea, South (Republic of Korea) |
71.43 |
|
HYOSUNG INVESTMENT & DEVELOPMENT CORP |
Korea, South (Republic of Korea) |
28.57 |
Ultimate
Holding Parent
|
Name |
Status |
RegistrationNumber |
Address |
|
HYOSUNG CORP |
Active |
31331291 |
Hyoseong Bldg 119 Mapo-daero Mapo-gu Seoul 04144 |
Immediate
Holding Parent
No Immediate Holding Parent for this company.
Subsidaries
No subsidaries for this company.
Affiliates
|
Name |
Status |
Registration
Address Number |
|
HYOSUNG DONG NAI CO LTD |
Active |
P3322329 Nhon Trach 5 Industrial Zone Rd N3 Hiep Phuoc Commune, Nhon Trach Dist, Dong Nai |
Negative
Information
No negative information for this company
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.16 |
|
|
1 |
INR 89.19 |
|
Euro |
1 |
INR 78.75 |
|
VND |
1 |
INR 0.0028 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
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.