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MIRA
INFORM REPORT
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Report No. : |
490264 |
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Report Date : |
10.02.2018 |
IDENTIFICATION DETAILS
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Name : |
SAMSUNG ELECTRONICS
VIETNAM CO LTD |
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|
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Registered Office : |
Yen Phong 1 Industrial
Zone Yen Trung Commune, Yen Phuong Dist, Bac Ninh |
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Country : |
Vietnam |
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Financials (as on) : |
December 2016 |
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Date of Incorporation : |
25.03.2008 |
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Com. Reg. No.: |
2300325764 |
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Legal Form : |
Private Company with
Limited Liability |
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Line of Business : |
Manufacture of
communication equipment |
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No. of Employees : |
48,909 [2018] |
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Excellent |
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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) |
|
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 name
SAMSUNG ELECTRONICS VIETNAM CO LTD
Company Summary
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Business Name |
SAMSUNG ELECTRONICS VIETNAM CO LTD |
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Country |
VIET NAM |
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Company Registration Number |
2300325764 |
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Main Activity Code |
2630 |
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Main Activity Description |
Manufacture of communication equipment |
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Company Status |
Normal (Active) |
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Latest Turnover Figure |
- |
|
Latest Shareholder Equity Figure |
144.397.018.000.000 |
Basic
Information
|
Business Name |
SAMSUNG ELECTRONICS VIETNAM CO LTD |
|
Registered Company Name |
SAMSUNG ELECTRONICS VIETNAM CO LTD |
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Company Registration Number |
2300325764 |
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Country |
VIET NAM |
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VAT Registration Number |
2300325764 |
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VAT Registration Date |
2008-03-26 |
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Date of Company Registration |
2016-01-26 |
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Date of Starting Operations |
2016-01-26 |
|
Legal Form |
Private Company with Limited Liability |
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Type of Ownership |
Registered ownership by Subject Business Entity |
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Company Status |
Normal (Active) |
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Contact Telephone Number |
[+84] 222-3696286, [+84] 222-3696308, [+84] 222-3696013 |
Main Address
|
Address |
Country |
Telephone |
|
Yen Phong 1 Industrial Zone Yen Trung Commune, Yen Phuong
Dist, Bac Ninh |
VIET NAM |
[+84] 222-3696286, [+84] 2223696308, [+84] 222-3696013 |
Other
Address
|
Address |
Country |
Telephone |
|
102 Nguyen Du St, Ho Chi Minh |
VIET NAM |
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PVI Tower 1 Pham Van Bach St Yen Hoa Ward, Cau Giay Dist,
Hanoi |
VIET NAM |
|
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Bitexco Tower 02 Hai Trieu St Ben Nghe Ward, District 1, Ho
Chi Minh |
VIET NAM |
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No previous addresses for this company.
Activities
|
Activity Code |
Activity Description |
|
2630 |
Manufacture of communication equipment |
Employee Information
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Date Reported |
Number of Employees |
|
2018 |
48,909 |
Banker Information
|
Banker Name |
Banker Address |
Phone Number |
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CITIBANK NA |
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CITIVNVX |
No advisor information for this company.
Miscellaneous Information
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Fax Number |
[+84] 222-3696003 |
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Export Countries |
Africa, Asia / Pacific, Middle-East. |
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Import Countries |
Asia / Pacific, China, Korea, South (Republic of Korea) |
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Additional Business Information |
Core Business: The primary business
focus of SAMSUNG ELECTRONICS VIETNAM CO LTD is Manufacturing - Finished
products. Key products include: Communication equipment, Mobile phones. An
integral part of the core business includes: Distribution. Supplementary
Business: In addition to the core business, SAMSUNG ELECTRONICS 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: 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). |
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Additional Financial Information |
Financial statement were prepared
as at 2016-12-01. 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 |
48,909 |
Additional Miscellaneous Information
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Issuing Authority |
Dept. Of Planning & Investment - Bac Ninh |
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Note |
(1) 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. 2) 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: 25 Mar, 2008; License
No.: 212043000127 |
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Domestic Sales & Purchases |
Annual Sales Analysis: Domestic
Sales: 10%, International Sales (Export): 90%. Annual Purchases Analysis:
Local Purchases: 10%, Imports: 90%. |
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Direct / Indirect Corporate Parent Details |
Indirect Corporate Parent: SAMSUNG
ELECTRONICS CO LTD, Global Identifier: 31325218, Legal Form Category: Public
Listed Company, Country: Korea, South (Republic of Korea), Operational
Address: 129 Samsung-ro Yeongtong-gu Suwon-si Gyeonggi-do 16677, Primary
Business Activity: Manufacturer. |
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Reputation |
Reference checking for the purpose
of establishing SAMSUNG ELECTRONICS VIETNAM 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. |
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Overseas Suppliers (Business Entity Name: Global
Identifier: Country) |
DURASONIC CORP: P3636132: Korea, South (Republic of Korea) |
Financials
|
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 |
370.701.877.000.000 |
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Operating Costs |
306.182.536.000.000 |
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Operating Profit |
64.519.341.000.000 |
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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 |
2.425.258.000.000 |
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Financial Expenses |
1.954.402.000.000 |
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Extraordinary Income |
216.516.000.000 |
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Extraordinary Costs |
25.690.214.000.000 |
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Profit before Tax |
39.516.499.000.000 |
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Tax |
1.148.235.000.000 |
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Profit after Tax |
38.368.264.000.000 |
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Dividends |
- |
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Minority Interests |
- |
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Other Appropriations |
- |
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Retained Profit |
38.368.264.000.000 |
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Balance Sheet |
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Land & Buildings |
0 |
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Plant & Machinery |
0 |
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Other Tangible Assets |
21.756.393.000.000 |
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Total Tangible Assets |
21.756.393.000.000 |
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Goodwill |
0 |
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Other Intangible Assets |
471.167.000.000 |
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Total Intangible Assets |
471.167.000.000 |
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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 |
4.303.344.000.000 |
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Total Other Fixed Assets |
4.303.344.000.000 |
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Total Fixed Assets |
26.530.904.000.000 |
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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 |
13.179.176.000.000 |
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Trade Receivables |
73.837.178.000.000 |
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Group Receivables |
0 |
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Receivables Due after 1 year |
0 |
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Miscellaneous Receivables |
0 |
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Total Receivables |
73.837.178.000.000 |
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Cash |
30.532.133.000.000 |
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Other Current Assets |
23.245.124.000.000 |
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Total Current Assets |
140.793.611.000.000 |
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Total Assets |
167.324.515.000.000 |
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Trade Payables |
20.533.482.000.000 |
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Bank Liabilities |
0 |
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Other Loans or Finance |
2.305.000.000 |
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Group Payables |
0 |
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Miscellaneous Liabilities |
2.391.267.000.000 |
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Total Current Liabilities |
22.927.054.000.000 |
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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 |
443.000.000 |
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Total Long Term Liabilities |
443.000.000 |
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Total Liabilities |
22.927.497.000.000 |
|
Called Up Share Capital |
1.684.084.000.000 |
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Share Premium |
0 |
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Revenue Reserves |
142.712.934.000.000 |
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Other Reserves |
0 |
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Total Shareholders Equity |
144.397.018.000.000 |
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Other Financials |
|
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Contingent Liabilities |
|
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Working Capital |
117.866.557.000.000 |
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Net Worth |
143.925.851.000.000 |
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Ratios |
|
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Pre Tax Profit Margin |
10.66 |
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Return On Capital Employed |
27.37 |
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Return On Total Assets Employed |
23.62 |
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Return On Net Assets Employed |
27.37 |
|
Sales / Net Working Capital |
3.15 |
|
Stock Turnover Ratio |
3.56 |
|
Debtor Days |
72.7 |
|
Creditor Days |
20.22 |
|
Current Ratio |
6.14 |
|
Liquidity Ratio Or Acid Test |
5.57 |
|
Current Debt Ratio |
0.16 |
|
Gearing |
|
|
Equity In Percentage |
86.54 |
|
Total Debt Ratio |
0.16 |
Gross Profit
Current Directors
|
Name |
Gender |
Address |
Date of Birth |
Position |
|
Jong-Min Shin |
Male |
|
|
Managing Director Director |
|
Su-Yeon Jung |
Male |
|
|
Director |
No previous directors for this company.
Share
Capital Structure
Nominal Share Capital 1.582.928.000.000
Issued Share Capital
Shareholders
|
Shareholder |
Address |
% Shares Held |
|
SAMSUNG ASIA PTE LTD |
Singapore |
100 |
Ultimate
Holding Parent
No Ultimate Holding Parent for this company.
Immediate Holding Parent
|
Name |
Status |
Registration Number |
Address |
|
SAMSUNG ASIA PTE LTD |
Active |
|
Mapletree Business City 30 Pasir Panjang Rd #17-31/32
117440 |
Subsidaries
No subsidaries for this company.
Affiliates
|
Name |
Status |
Registration Address |
|
|
|
Number |
|
SAMSUNG ELECTRONICS (UK) LTD |
Active |
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Negative Information
No negative information for this
company
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.37 |
|
|
1 |
INR 89.71 |
|
Euro |
1 |
INR 78.89 |
|
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
: |
NIS |
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|
|
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Report Prepared
by : |
SYL |
RATING EXPLANATIONS
|
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 |
|
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 |
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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.