MIRA INFORM REPORT

 

 

Report No. :

490874

Report Date :

19.02.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

CONSTANTIA OAI HUNG MANUFACTURING JSC

 

 

Formerly Known As :

OAI HUNG MANUFACTURING JSC [17.06.2015]

 

OAI HUNG JSC [29.12.2014]

 

OAI HUNG CO LTD [11.01.1999]

 

 

Registered Office :

Tan Binh Industrial Park Lot III-6 Group CN 3 Rd 11 Tay Thanh Ward, Tan Phu Dist, Ho Chi Minh

 

 

Country :

Vietnam

 

 

Financials (as on) :

December 2016

 

 

Date of Incorporation :

24.02.1999

 

 

Com. Reg. No.:

0301584581

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

·         Manufacture of Plastic Plates, Sheets, Tubes and Profiles

·         Aluminium Production

 

 

No. of Employees :

200 [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

 

Maximum Credit Limit :

1,650,000 USD

 

 

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

(30.09.2017)

Current Rating

(31.12.2017)

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 Summary

 

Business Name

OAI HUNG CONSTANTIA OAI HUNG

Country

VIET NAM

Company Registration Number

0301584581

Main Activity Code

2221

Main Activity Description

Manufacture of plastic plates, sheets, tubes and profiles

Company Status

Normal (Active)

Latest Turnover Figure

-

Latest Shareholder Equity Figure

121.087.000.000

Credit Limit

1,650,000 USD

 

 

Basic Information

 

Business Name

OAI HUNG CONSTANTIA OAI HUNG

Registered Company Name

CONSTANTIA OAI HUNG MANUFACTURING JSC

Company Registration Number

0301584581

Country

VIET NAM

VAT Registration Number

0301584581

VAT Registration Date

1999-02-24

Date of Company Registration

2010-03-11

Date of Starting Operations

2010-03-11

Commercial Court

Legal Form

Joint Stock Company

Type of Ownership

Registered ownership by Subject Business Entity

Company Status

Normal (Active)

Principal Activity Code

Principal Activity Description

Contact Telephone Number

[+84] 8-38155499 [+84] 8-38155498 [+84] 8-38155613

 

 

Main Address

 

Address

Country

Telephone

Tan Binh Industrial Park Lot III-6 Group CN 3 Rd 11 Tay Thanh Ward, Tan Phu Dist, Ho Chi Minh

VIET NAM

[+84] 8-38155499 [+84] 8-38155498

[+84] 8-38155613

 

 

Other Address

 

Address

Country

Telephone

4Fl Vimeco Bldg Lot E9 Pham Hung St Trung Hoa Ward, Cau Giay Dist, Hanoi

VIET NAM

 

 

 

Previous Address

 

No previous addresses for this company.

 

 

Activities

 

Activity Code

Activity Description

2221

Manufacture of plastic plates, sheets, tubes and profiles

2442

Aluminium production

 

 

Email Addresses

 

info@oaihung.com

 

 

Web Pages

 

http://www.oaihung.com

 

 

Previous Names

 

Previous Name

Date Changed from Previous Name

OAI HUNG CO LTD

1999-01-11

OAI HUNG JSC

2014-12-29

OAI HUNG MANUFACTURING JSC

2015-06-17

 

 

Employee Information

 

Date Reported  Number of Employees

2018                              200

 

 

Banker Information

 

Banker Name   Banker Address           Phone Number

JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM   BFTVVNVX

 

 

Advisors Information

 

No advisor information for this company.

 

 

Miscellaneous Information

 

Fax Number

[+84] 8-38155124

Export Countries

Asia / Pacific, Europe, Bangladesh, Germany, Thailand.

Import Countries

Asia / Pacific, China, Korea, South (Republic of Korea), Taiwan, Thailand.

Additional Business Information

Core Business: The primary business focus of CONSTANTIA OAI HUNG MANUFACTURING JSC is Manufacturing - Finished products. Key products include: Aluminium films, Blister foils, Lid foil, PET films, PVC films. An integral part of the core business includes: Distribution. Supplementary Business: In addition to the core business, CONSTANTIA OAI HUNG MANUFACTURING JSC also is engaged in the following areas of business: 1.Exporting: Finished products. 2. Importing, Raw materials.

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.

Additional Payment Information

Selling: Type: Terms. Local: 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: Type Terms. Import Letter of Credit (At-sight). Telegraphic Transfer (T/T) - Executed at time of transaction. Local Credit - Secured with Post-dated checks 30~60 days. Cash on delivery (COD).

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 Joint Stock Company are not required to make public disclosure of their annual financials. Although basic financials were obtained for reference.

Number of Employees at Address

200

Number of Employees at Group

Number of Employees at Factory

 

 

Additional Miscellaneous Information

 

Issuing Authority

DEPARTMENT OF PLANNING AND INVESTMENT - Ho Chi Minh

Note

 

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., 11 Jan, 1999 070592.

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

Domestic Sales: 95%, International Sales (Export): 5%, Local Purchases" 20%, Imports: 80%.

Capital (Date Authorized Capital - History)

11 Jan, 1999 27,000,000,000, 2014 28,000,000,000.

Reputation

Reference checking for the purpose of establishing CONSTANTIA OAI HUNG MANUFACTURING JSC'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:SAIGON BANK FOR INDUSTRY & TRADE (SAIGON INCOMBANK), Global Identifier:32406443,

 

Branch:SAIGON BANK FOR INDUSTRY AND TRADE JSC - CHO LON, Branch Address:Cho Lon, SWIFT

 

Code:SBITVNVX. Bank Name:VIETNAM EXPORT IMPORT COMMERCIAL JOINT STOCK BANK, Global

 

Identifier:32408823, Branch:VIETNAM EXPORT IMPORT COMMERCIAL JOINT STOCK BANK, TRANSACTION

 

OFFICE 1, SWIFT Code:EBVIVNVX. Bank Name:VIETNAM JOINT STOCK COMMERCIAL BANK FOR

 

INDUSTRY & TRADE, Global Identifier:32404058, Branch:VIETNAM JOINT STOCK COMMERCIAL BANK FOR

 

INDUSTRY AND TRADE, BRANCH 1, Branch Address:Branch 1, SWIFT Code:ICBVVNVX.

Company History(Date Details)

1999 - Jan Incorporated as Private Limited Company, 2014 - Dec Changed its legal form to Joint Stock Company.

Quality Accreditation

1 INTERNATIONAL STANDARDS ORGANIZATION (ISO) 9001:2008, 2 INTERNATIONAL STANDARDS

ORGANIZATION (ISO) 9001:2000.

Associations

CONSTANTIA OAI HUNG MANUFACTURING JSC are members of the following associations:Domestic Associations: Association Name, VIETNAM SAIGON PLASTICS ASSOCIATION - VSPA.

 

 

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

726.499.000.000

735.428.000.000

526.083.000.000

Operating Costs

473.386.000.000

542.528.000.000

413.448.000.000

Operating Profit

253.113.000.000

192.900.000.000

112.635.000.000

Wages & Salaries

-

-

-

Pension Costs

-

-

-

Depreciation

-

-

-

Amortisation

-

-

-

Financial Income

1.294.000.000

3.650.000.000

1.247.000.000

Financial Expenses

28.895.000.000

35.762.000.000

30.510.000.000

Extraordinary Income

7.186.000.000

3.069.000.000

3.010.000.000

Extraordinary Costs

6.710.000.000

2.080.000.000

339.000.000

Profit before Tax

225.988.000.000

161.777.000.000

86.043.000.000

Tax

45.518.000.000

35.591.000.000

18.929.000.000

Profit after Tax

180.470.000.000

126.186.000.000

67.114.000.000

Dividends

-

-

-

Minority Interests

-

-

-

Other Appropriations

-

-

-

Retained Profit

180.470.000.000

126.186.000.000

67.114.000.000

 

 

Balance Sheet

 

Land & Buildings

0

0

0

Plant & Machinery

0

0

0

Other Tangible Assets

155.834.000.000

0

0

Total Tangible Assets

155.834.000.000

0

0

Goodwill

0

0

0

Other Intangible Assets

0

0

131.289.000.000

Total Intangible Assets

0

0

131.289.000.000

Investments

0

0

0

Loans to Group

0

0

0

Other Loans

0

0

0

Miscellaneous Fixed Assets

115.125.000.000

279.257.000.000

124.007.000.000

Total Other Fixed Assets

115.125.000.000

279.257.000.000

124.007.000.000

Total Fixed Assets

270.959.000.000

279.257.000.000

255.296.000.000

Raw Materials

0

0

0

Work in Progress

0

0

0

Finished Goods

0

0

0

Other Inventories

68.946.000.000

209.642.000.000

205.152.000.000

Total Inventories

68.946.000.000

209.642.000.000

205.152.000.000

Trade Receivables

121.290.000.000

131.130.000.000

66.389.000.000

Group Receivables

0

0

0

Receivables Due after 1 year

0

0

0

Miscellaneous Receivables

0

0

0

Total Receivables

121.290.000.000

131.130.000.000

66.389.000.000

Cash

4.033.000.000

33.988.000.000

33.360.000.000

Other Current Assets

402.000.000

1.021.000.000

2.663.000.000

Total Current Assets

194.671.000.000

375.781.000.000

307.564.000.000

Total Assets

465.630.000.000

655.038.000.000

562.860.000.000

Trade Payables

0

0

32.581.000.000

Bank Liabilities

0

0

0

Other Loans or Finance

0

0

272.913.000.000

Group Payables

0

0

0

Miscellaneous Liabilities

317.103.000.000

375.001.000.000

1.243.000.000

Total Current Liabilities

317.103.000.000

375.001.000.000

306.737.000.000

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

27.440.000.000

63.497.000.000

54.904.000.000

Total Liabilities

344.543.000.000

438.498.000.000

361.641.000.000

Called Up Share Capital

0

0

0

Share Premium

0

0

0

Revenue Reserves

0

0

0

Other Reserves

121.087.000.000

216.540.000.000

201.219.000.000

Total Shareholders Equity

121.087.000.000

216.540.000.000

201.219.000.000

 

 

Other Financials

 

Contingent Liabilities

Working Capital

-122.432.000.000

780.000.000

827.000.000

Net Worth

0

0

69.930.000.000

 

 

Ratios

 

Pre Tax Profit Margin

31.11

22

16.36

Return On Capital Employed

152.15

57.77

33.59

Return On Total Assets Employed

48.53

24.7

15.29

Return On Net Assets Employed

186.63

74.71

42.76

Sales / Net Working Capital

-5.93

942.86

636.13

Stock Turnover Ratio

9.49

28.51

39

Debtor Days

60.94

65.08

46.06

Creditor Days

 

 

22.6

Current Ratio

0.61

1

1

Liquidity Ratio Or Acid Test

0.4

0.44

0.33

Current Debt Ratio

2.62

1.73

1.52

Gearing

Equity In Percentage

 

 

46.62

Total Debt Ratio

2.85

2.03

1.8

 

 

Additional Financials

 

Gross Profit

 

 

Current Directors

 

Name

Gender

Position

Tai Cam O.

Male

Managing Director Director

Phu Chi La

Male

Chief Accountant

Kim Ai O.

Female

Deputy Managing Director

Vinh Minh Vu

Male

Deputy Managing Director

 

 

Previous Directors

 

No previous directors for this company.

 

 

Share Capital Structure

 

Nominal Share Capital 28.000.000.000

Issued Share Capital

 

 

Shareholders

 

Shareholder

Address

% Shares Held

CONSTANTIA TOBEPAL SOCIEDAD LTD

Spain

51

Mr. Tai Cam O.

Vietnam

46.86

Ms. Kim Ai O.

Vietnam

2.14

 

 

Ultimate Holding Parent

 

No Ultimate Holding Parent for this company.

 

 

Immediate Holding Parent

 

Name

Status

Registration Number

Address

CONSTANTIA TOBEPAL SOCIEDAD LTD

Active

 

 

Subsidaries

 

No subsidaries for this company.

 

 

Affiliates

 

No affiliates for this company.

 

 

Negative Information

 

No negative information for this company

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 63.90

UK Pound

1

INR 90.31

Euro

1

INR 80.17

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 :

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)

 

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.