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MIRA INFORM REPORT
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Report No. : |
490412 |
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Report Date : |
15.02.2018 |
IDENTIFICATION DETAILS
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Name : |
INTERNATIONAL NORTHERN STAR CO LTD |
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Registered Office : |
Cai Lan Industrial Zone Lot 11 Bai Chay Ward, Ha
Long, Quang Ninh |
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Country : |
Vietnam |
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Financials (as on) : |
December 2016 |
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Date of Incorporation : |
02.08.2002 |
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Com. Reg. No.: |
5700397078 |
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Legal Form : |
Private Company with Limited Liability |
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Line of Business : |
Other Transportation Support Activities |
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No. of Employees : |
40 [2018] |
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 : |
No Complaints |
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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 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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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
Summary
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|
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Business Name |
INNOST |
|
Country |
VIET NAM |
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Company Registration Number |
5700397078 |
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Main Activity Code |
5229 |
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Main Activity Description |
Other transportation support activities |
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Company Status |
Normal (Active) |
|
Latest Turnover Figure |
- |
|
Latest Shareholder Equity Figure |
12.798.000.000 |
Basic
Information
|
|
|
Business Name |
INNOST |
|
Registered Company Name |
INTERNATIONAL NORTHERN STAR CO LTD |
|
Company Registration Number |
5700397078 |
|
Country |
VIET NAM |
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VAT Registration Number |
5700397078 |
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VAT Registration Date |
2002-08-02 |
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Date of Company Registration |
2009-01-26 |
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Date of Starting Operations |
2009-01-26 |
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Commercial Court |
|
|
Legal Form |
Private Company with Limited Liability |
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Type of Ownership |
|
|
Company Status |
Normal (Active) |
|
Principal Activity Code |
|
|
Principal Activity Description |
|
|
Contact Telephone Number |
[+84] 203-3825869 [+84] 203-3848678 [+84]
203-3848888 |
Main
Address
|
||
|
Address |
Country |
Telephone |
|
Cai Lan Industrial Zone Lot 11 Bai Chay Ward, Ha
Long, Quang Ninh |
VIET NAM |
[+84] 203-3825869 [+84] 203- 3848678 [+84] 203-3848888 |
Other
Address
|
|
No other addresses for this company. |
Previous
Address
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|
Address Country |
|
7 Le Quy Don St, Ha Long, Quang Ninh VIET NAM |
Activities
|
|
Activity Code
Activity Description |
|
5229 Other transportation support activities |
Email
Addresses
|
Web
Pages
|
|
No web pages for this company. |
Employee
Information
|
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Date Reported Number of Employees |
|
2018 40 |
Banker
Information
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||
|
Banker Name |
Banker Address |
Phone Number |
|
AN BINH COMMERCIAL JOINT STOCK BANK JSC |
Quang Ninh |
ABBKVNVX |
Advisors
Information
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No advisor information for this company. |
Miscellaneous
Information
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Fax Number |
[+84] 203-3881718 [+84] 203-3848666 [+84]
203-3848898 |
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Export Countries |
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Import Countries |
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Additional Business Information |
Core Business: The
primary business focus of INTERNATIONAL NORTHERN STAR CO LTD is Specialized professional
services, including: Logistics. Key service include: Warehouse rentals |
|
Additional Rating Information |
Good Credit Quality: Credit can proceed on a
favorable basis but in strict adherence to financig terms.Revision of Credit
Limit:Annual, Risk Index:Low. |
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Additional Payment Information |
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Additional Financial Information |
Financial Statement Were prepared As At
2016-12-31, 2015-12-31 and 2014-12-31. 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. |
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Number of Employees at Address |
40 |
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Number of Employees at Group |
|
|
Number of Employees at Factory |
|
Additional
Miscellaneous Information
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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. 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. |
|
Previous Business License/s |
License Date: License No., 12 Oct, 2001:
2202000104. |
|
Reputation |
Reference checking for the purpose
of establishing INTERNATIONAL
NORTHERN STAR 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. |
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Bank Details |
Bank Name:JOINT STOCK COMMERCIAL BANK FOR FOREIGN
TRADE OF VIETNAM, Global |
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Identifier:32400479, Branch:JOINT STOCK COMMERCIAL
BANK FOR FOREIGN TRADE OF VIETNAM - |
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QUANG NINH, Branch Address:Quang Ninh, SWIFT
Code:BFTVVNVX. Bank Name:JOINT STOCK |
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COMMERCIAL BANK FOR FOREIGN TRADE
OF VIETNAM,
Global Identifier:32400479, Branch:JOINT STOCK |
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COMMERCIAL BANK FOR FOREIGN TRADE
OF VIETNAM
- MONG CAI, Branch Address:Mong Cai, SWIFT |
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Code:BFTVVNVX. Bank Name:VIETNAM BANK FOR
AGRICULTURE & RURAL DEVELOPMENT, Global |
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Identifier:32408794, Branch:VIETNAM BANK FOR
AGRICULTURE , Branch Address:Cao Thang, SWIFT |
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Code:VBAAVNVX. Bank Name:VIETNAM MARITIME
COMMERCIAL JOINT STOCK BANK JSC, Global |
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Identifier:32404826,
Branch:VIETNAM MARITIME COMMERCIAL JOINT
STOCK BANK JSC - QUANG NINH, |
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Branch Address:Quang Ninh, SWIFT Code:MCOBVNVX. Bank
Name:VIETNAM TECHNOLOGICAL & |
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COMMERCIAL JOINT STOCK BANK, Global
Identifier:32408999, Branch:VIETNAM TECHNOLOGICAL , |
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Branch Address:Hai Phong, SWIFT Code:VTCBVNVX. |
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Approved Signatures |
The Company Director/s listed below maintain the legal
right to sign on behalf of the company: Name
Mr. Hung Manh Nguyen. |
|
Previous Contact Details |
Telephone
Number:84-33-3848899. Fax Number:84-33-3848898. Telephone Number:84-33-3825869. Fax
Number:84-33-3848666. Telephone Number:84-33-3848888. Telephone
Number:84-33-3848678. |
|
Real Estate Ownership |
Property Name:INTERNATIONAL NORTHERN STAR CO LTD -
HA LONG, QUANG NINH, Type of Property:Office
& Administration, Address:Cai Lan Industrial Zone Lot 11 Bai Chay Ward, Ha Long, Quang Ninh, Office Size:500 Square meters. |
|
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 |
42.503.000.000 |
40.845.000.000 |
22.402.000.000 |
|
Operating Costs |
42.483.000.000 |
36.798.000.000 |
19.380.000.000 |
|
Operating Profit |
20.000.000 |
4.047.000.000 |
3.022.000.000 |
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Wages & Salaries |
- |
- |
- |
|
Pension Costs |
- |
- |
- |
|
Depreciation |
- |
- |
- |
|
Amortisation |
- |
- |
- |
|
Financial Income |
1.419.000.000 |
361.000.000 |
366.000.000 |
|
Financial Expenses |
947.000.000 |
246.000.000 |
280.000.000 |
|
Extraordinary Income |
591.000.000 |
205.000.000 |
- |
|
Extraordinary Costs |
581.000.000 |
275.000.000 |
- |
|
Profit before Tax |
502.000.000 |
4.092.000.000 |
3.108.000.000 |
|
Tax |
83.000.000 |
818.000.000 |
621.000.000 |
|
Profit after Tax |
419.000.000 |
3.274.000.000 |
2.487.000.000 |
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Dividends |
- |
- |
- |
|
Minority Interests |
- |
- |
- |
|
Other Appropriations |
- |
- |
- |
|
Retained Profit |
419.000.000 |
3.274.000.000 |
2.487.000.000 |
Balance
Sheet
|
|||
|
Land & Buildings |
0 |
0 |
0 |
|
Plant & Machinery |
0 |
0 |
0 |
|
Other Tangible Assets |
11.887.000.000 |
13.854.000.000 |
15.688.000.000 |
|
Total Tangible Assets |
11.887.000.000 |
13.854.000.000 |
15.688.000.000 |
|
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 |
17.573.000.000 |
1.127.000.000 |
3.325.000.000 |
|
Total Other Fixed Assets |
17.573.000.000 |
1.127.000.000 |
3.325.000.000 |
|
Total Fixed Assets |
29.460.000.000 |
14.981.000.000 |
19.013.000.000 |
|
Raw Materials |
0 |
0 |
0 |
|
Work in Progress |
0 |
0 |
0 |
|
Finished Goods |
0 |
0 |
0 |
|
Other Inventories |
168.000.000 |
0 |
0 |
|
Total Inventories |
168.000.000 |
0 |
0 |
|
Trade Receivables |
11.426.000.000 |
19.940.000.000 |
11.825.000.000 |
|
Group Receivables |
0 |
0 |
0 |
|
Receivables Due after 1 year |
0 |
0 |
0 |
|
Miscellaneous Receivables |
0 |
0 |
0 |
|
Total Receivables |
11.426.000.000 |
19.940.000.000 |
11.825.000.000 |
|
Cash |
1.470.000.000 |
18.508.000.000 |
11.474.000.000 |
|
Other Current Assets |
290.000.000 |
432.000.000 |
203.000.000 |
|
Total Current Assets |
13.354.000.000 |
38.880.000.000 |
23.502.000.000 |
|
Total Assets |
42.814.000.000 |
53.861.000.000 |
42.515.000.000 |
|
Trade Payables |
1.713.000.000 |
2.483.000.000 |
7.499.000.000 |
|
Bank Liabilities |
0 |
0 |
0 |
|
Other Loans or Finance |
1.610.000.000 |
14.220.000.000 |
0 |
|
Group Payables |
0 |
0 |
0 |
|
Miscellaneous Liabilities |
18.498.000.000 |
3.986.000.000 |
4.058.000.000 |
|
Total Current Liabilities |
21.821.000.000 |
20.689.000.000 |
11.557.000.000 |
|
Trade Payables After 1 Year |
0 |
0 |
0 |
|
Bank Liabilities After 1 Year |
0 |
0 |
0 |
|
Other Loans or Finance due after 1 year |
8.195.000.000 |
2.375.000.000 |
3.105.000.000 |
|
Group Payables After 1 Year |
0 |
0 |
0 |
|
Miscellaneous Liabilities Due After 1 Year |
0 |
0 |
0 |
|
Total Long Term Liabilities |
8.195.000.000 |
2.375.000.000 |
3.105.000.000 |
|
Total Liabilities |
30.016.000.000 |
23.064.000.000 |
14.662.000.000 |
|
Called Up Share Capital |
0 |
0 |
0 |
|
Share Premium |
0 |
0 |
0 |
|
Revenue Reserves |
0 |
0 |
0 |
|
Other Reserves |
12.798.000.000 |
30.797.000.000 |
27.853.000.000 |
|
Total Shareholders Equity |
12.798.000.000 |
30.797.000.000 |
27.853.000.000 |
Other
Financials
|
|||
|
Contingent Liabilities |
|||
|
Working Capital |
-8.467.000.000 |
18.191.000.000 |
11.945.000.000 |
|
Net Worth |
0 |
0 |
0 |
Ratios
|
|||
|
Pre Tax Profit Margin |
1.18 |
10.02 |
13.87 |
|
Return On Capital Employed |
2.39 |
12.34 |
10.04 |
|
Return On Total Assets Employed |
1.17 |
7.6 |
7.31 |
|
Return On Net Assets Employed |
3.92 |
13.29 |
11.16 |
|
Sales / Net Working Capital |
-5.02 |
2.25 |
1.88 |
|
Stock Turnover Ratio |
0.4 |
|
|
|
Debtor Days |
98.12 |
178.19 |
192.67 |
|
Creditor Days |
14.71 |
22.19 |
122.18 |
|
Current Ratio |
0.61 |
1.88 |
2.03 |
|
Liquidity Ratio Or Acid Test |
0.6 |
|
|
|
Current Debt Ratio |
1.71 |
0.67 |
0.41 |
|
Gearing |
|||
|
Equity In Percentage |
|||
|
Total Debt Ratio |
2.35 |
0.75 |
0.53 |
Additional
Financials
|
|
Gross Profit |
Current
Directors
|
|||
|
Name |
Gender |
Date of Birth |
Position |
|
Hung Manh Nguyen |
Male |
1980-01-13 |
Managing Director |
Previous
Directors
|
|
No previous directors for this company. |
Share
Capital Structure
|
|
Nominal Share Capital 10.000.000.000 |
|
Issued Share Capital |
Shareholders
|
||
|
Shareholder |
Address |
% Shares Held |
|
Mr. Hung Manh Nguyen |
Vietnam |
70 |
|
Mr. Cong Chien Mai |
Vietnam |
10 |
|
Ms. Kim Oanh Thi Tran |
Vietnam |
10 |
|
Ms. Phuong Thi Nguyen |
Vietnam |
10 |
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 64.13 |
|
|
1 |
INR 89.17 |
|
Euro |
1 |
INR 79.39 |
|
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 : |
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.