MIRA INFORM REPORT

 

 

Report No. :

490582

Report Date :

13.02.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

LONG HAI MC TRADING CO LTD

 

 

Registered Office :

61 Chu  Van  An  St  Hoa  Lac  Ward,  Mong  Cai,  Quang  Ninh

 

 

Country :

Vietnam

 

 

Financials (as on) :

December 2016

 

 

Date of Incorporation :

26.09.2013

 

 

Com. Reg. No.:

5701686555

 

 

Legal Form :

Private  Company  with  Limited  Liability

 

 

Line of Business :

Wholesale  of  other  food,  including  fish,  crustaceans  and  molluscs

 

 

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

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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

Moderately High Risk

 

C1

High Risk

 

C2

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 name

 

LONG  HAI  MC  TRADING  CO  LTD                            

 

 

Company Summary                        

 

Business  Name

LONG  HAI  MC  TRADE

Country

VIET  NAM

Company  Registration  Number

5701686555

Main  Activity  Code

4638

Main  Activity  Description

Wholesale  of  other  food,  including  fish,  crustaceans  and  molluscs

Company  Status

Normal (Active)

Latest  Turnover  Figure

-

Latest  Shareholder  Equity  Figure

23.508.000.000

 

 

Basic Information                        

 

Business  Name

LONG  HAI  MC  TRADE

Registered  Company  Name

LONG  HAI  MC  TRADING  CO  LTD

Company  Registration  Number

5701686555

Country

VIET  NAM

VAT  Registration  Number

5701686555

VAT  Registration  Date

2013-09-26

Date  of  Company  Registration

2013-09-26

Date  of  Starting  Operations

2013-09-26

Legal  Form

Private  Company  with  Limited  Liability

Company  Status

Normal (Active)

Principal  Activity  Code

 

Principal  Activity  Description

 

Contact  Telephone  Number

[+84]  33-3883311

 

 

Main  Address                

 

Address

Country

Telephone

61 Chu  Van  An  St  Hoa  Lac  Ward,  Mong  Cai,  Quang  Ninh

VIET  NAM

[+84]  33-3883311

 

 

Other  Address         

 

Address

Country

Telephone

313 Le  Thanh  Tong  St,  Ngo  Quyen  Dist,  Haiphong

VIET  NAM

 

 

 

Previous  Address

No  previous  addresses  for  this  company.

 

 

Activities

 

Activity  Code

Activity  Description

4638

Wholesale  of  other  food,  including  fish,  crustaceans  and  molluscs

 

 

Email  Addresses

No  email  for  this  company.

 

 

Web  Pages

No  web  pages  for  this  company.

 

 

Employee  Information

 

Date  Reported

Number  of  Employees

2018

25

 

 

Banker  Information              

 

Banker  Name

Banker  Address

Phone  Number

JOINT  STOCK  COMMERCIAL  BANK  FOR  FOREIGN  TRADE  OF  VIETNAM

Mong  Cai

BFTVVNVX

 

 

Advisors  Information                                                             

No  advisor  information  for  this  company.                                         

 

 

Miscellaneous  Information           

 

Fax  Number

[+84]  33-3881937

Export  Countries

Asia  /  Pacific,  China.

Import  Countries

Asia  /  Pacific,  China.

Additional  Business  Information

Core  Business:  The  primary  business  focus  of  LONG  HAI  MC  TRADING  CO  LTD  is  Trading  -  Finished products.  Key  products  include:  Seafood.  Frozen  seafoods.  Supplementary  Business.  In  addition  to  the core  business,  LONG  HAI  MC  TRADING  CO  LTD  also  is  engaged  in  the  following  areas  of  business: 1.Exporting.  Natural  food  items,  Unprocessed  (Meats,  Produce  or  Seafood).  2  Importing.  Natural  food  items, Unprocessed  (Meats,  Produce  or  Seafood).

Additional  Payment  Information

Selling:  Type  Terms.  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.

Additional  Financial  Information

Financial  Statement  Were  Prepared  As  At  2016-12-31  and  2015-12-31.  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.

Number  of  Employees  at  Address

25

 

 

Additional  Miscellaneous  Information

 

Issuing  Authority

DEPT.  OF  PLANNING  &  INVESTMENT  -  Quang  Ninh

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.

Domestic  Sales  &  Purchases  (Annual Sales  Analysis,  Percentage,  Annual Purchases  Analysis)

International  Sales  (Export):  100%.  Imports:  100%.

Reputation

Reference  checking  for  the  purpose  of  establishing  LONG  HAI  MC  TRADING  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.

 

 

Financials

 

Financial  Year

2016-12

2015-12

Number  of  Weeks

52

52

Currency

VND

VND

Consolidated  Accounts

No

No

Profit  and  Loss

 

 

Revenue

542.721.000.000

59.667.000.000

Operating  Costs

521.526.000.000

58.977.000.000

Operating  Profit

21.195.000.000

690.000.000

Wages  &  Salaries

-

-

Pension  Costs

-

-

Depreciation

-

-

Amortisation

-

-

Financial  Income

613.000.000

-

Financial  Expenses

461.000.000

16.000.000

Extraordinary  Income

613.000.000

2.000.000

Extraordinary  Costs

824.000.000

-

Profit  before  Tax

21.136.000.000

676.000.000

Tax

627.000.000

149.000.000

Profit  after  Tax

20.509.000.000

527.000.000

Dividends

-

-

Minority  Interests

-

-

Other  Appropriations

-

-

Retained  Profit

20.509.000.000

527.000.000

Balance  Sheet

 

 

Land  &  Buildings

0

0

Plant  &  Machinery

0

0

Other  Tangible  Assets

0

0

Total  Tangible  Assets

0

0

Goodwill

0

0

Other  Intangible  Assets

0

0

Total  Intangible  Assets

0

0

Investments

0

0

Loans  to  Group

0

0

Other  Loans

0

0

Miscellaneous  Fixed  Assets

10.120.000.000

10.000.000.000

Total  Other  Fixed  Assets

10.120.000.000

10.000.000.000

Total  Fixed  Assets

10.120.000.000

10.000.000.000

Raw  Materials

0

0

Work  in  Progress

0

0

Finished  Goods

0

0

Other  Inventories

7.727.000.000

3.796.000.000

Total  Inventories

7.727.000.000

3.796.000.000

Trade  Receivables

9.975.000.000

3.917.000.000

Group  Receivables

0

0

Receivables  Due  after  1  year

0

0

Miscellaneous  Receivables

0

0

Total  Receivables

9.975.000.000

3.917.000.000

Cash

4.031.000.000

1.599.000.000

Other  Current  Assets

53.000.000

0

Total  Current  Assets

21.786.000.000

9.312.000.000

Total  Assets

31.906.000.000

19.312.000.000

Trade  Payables

3.308.000.000

6.275.000.000

Bank  Liabilities

0

0

Other  Loans  or  Finance

4.550.000.000

2.000.000.000

Group  Payables

0

0

Miscellaneous  Liabilities

540.000.000

37.000.000

Total  Current  Liabilities

8.398.000.000

8.312.000.000

Trade  Payables  After  1  Year

0

0

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

8.398.000.000

8.312.000.000

Called  Up  Share  Capital

0

0

Share  Premium

0

0

Revenue  Reserves

0

0

Other  Reserves

23.508.000.000

11.000.000.000

Total  Shareholders  Equity

23.508.000.000

11.000.000.000

Other  Financials

 

 

Contingent  Liabilities

 

 

Working  Capital

13.388.000.000

1.000.000.000

Net  Worth

0

0

Ratios

 

 

Pre  Tax  Profit  Margin

3.89

1.13

Return  On  Capital  Employed

 

 

Return  On  Total  Assets  Employed

66.24

3.5

Return  On  Net  Assets  Employed

89.91

6.15

Sales  /  Net  Working  Capital

40.54

59.67

Stock  Turnover  Ratio

1.42

6.36

Debtor  Days

6.71

23.96

Creditor  Days

2.22

38.39

Current  Ratio

2.59

1.12

Liquidity  Ratio  Or  Acid  Test

1.67

0.66

Current  Debt  Ratio

0.36

0.76

Gearing

 

 

Equity  In  Percentage

 

 

Total  Debt  Ratio

0.36

0.76

Additional  Financials

 

 

Gross  Profit

 

 

 

Current  Directors

 

Name

Gender

Address

Date  of

Position

 

 

 

Birth

 

Nguyen  Thi  Thanh  Huyen

Female

 

1983-10-12

Director

Managing  Director

 

 

Previous  Directors

No  previous  directors  for  this  company.

 

 

Share  Capital  Structure

 

Nominal  Share  Capital

50.000.000.000

Issued  Share  Capital

 

 

 

Shareholders     

 

Shareholder

Address

% Shares  Held

Mr.  Nguyen  Duc  Tam

Vietnam

80

Ms.  Nguyen  Thi  Thanh  Huyen

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 64.28

UK Pound

1

INR 89.02

Euro

1

INR 78.93

VND

1

INR 0.0028 

Note: Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

PRA

 

 

Report Prepared by :

SYL

 

 

 

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)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.