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MIRA INFORM REPORT
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Report No. : |
483477 |
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Report Date : |
01.01.2018 |
IDENTIFICATION DETAILS
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Name : |
GLOBAL CNC RESOURCES JSC |
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|
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Registered Office : |
113A Lane 291 Lac Long
Quan St Nghia Do Ward, Cau Giay
Dist, Hanoi |
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Country : |
Vietnam |
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Financials (as on) : |
December 2014 |
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Date of Incorporation : |
29.06.2010 |
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Com. Reg. No.: |
0104782369 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture of synthetic rubber
in primary forms |
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No. of Employees : |
9 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 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
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Business Name |
GLOBAL CNC |
|
Country |
VIET NAM |
|
Company Registration Number |
0104782369 |
|
Main Activity Code |
2017 |
|
Main Activity Description |
Manufacture of synthetic rubber in
primary forms |
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Company Status |
Normal |
|
Latest Turnover Figure |
- |
|
Latest Shareholder Equity Figure |
9.775.000.000 |
Basic
Information
|
Business Name |
GLOBAL CNC |
|
Registered Company Name |
GLOBAL CNC RESOURCES JSC |
|
Company Registration Number |
0104782369 |
|
Country |
VIET NAM |
|
VAT Registration Number |
0104782369 |
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VAT Registration Date |
2010-06-29 |
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Date of Company Registration |
2010-07-05 |
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Date of Starting Operations |
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Commercial Court |
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|
Legal Form |
Joint Stock Company |
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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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Principal Activity Code |
|
|
Principal Activity Description |
|
|
Contact Telephone Number |
[+84] 24-39716605 |
Main
Address
|
Address |
Country |
Telephone |
|
113A Lane 291 Lac Long Quan
St Nghia Do Ward, Cau Giay Dist,
Hanoi |
VIET NAM |
[+84] 24-39716605 |
Other Address
|
Address |
Country |
Telephone |
|
4Fl, 84 Bach Dang St Ward
2, Tan Binh Dist, Ho Chi Minh |
VIET NAM |
84-8-38485384 |
Previous
Address
|
Address |
Country |
|
6Fl, 609 Lac Long Quan, Tay
Ho Dist, Hanoi |
VIET NAM |
|
9 Dai Tu Dai Kim, Hoang Mai
Dist, Hanoi |
VIET NAM |
Activities
|
Activity Code |
Activity Description |
|
2017 |
Manufacture of synthetic rubber in
primary forms |
Email
Addresses
info@global-cnc.com agrimex@global-cnc.com
Web
Pages
http://www.global-cnc.com
Employee
Information
|
Date Reported |
Number of Employees |
|
|
2017 |
9 |
|
Banker
Information
|
Banker Name |
Banker Address |
Phone Number |
|
Vietnam Maritime Commercial Joint
Stock Bank Jsc |
18 Nguyen Du St, Hanoi |
MCOBVNVX |
Advisors
Information
|
Auditor Name |
Solicitor Name |
|
|
No advisor information for this
company. |
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Miscellaneous
Information
|
Fax Number |
[+84]
24-39716605 |
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Export Countries |
Asia
/ Pacific, Middle-East, China, India, Indonesia, Korea, South (Republic of
Korea), Malaysia, Pakistan, Saudi Arabia. |
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Import Countries |
|
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Additional Business Information |
Core
Business: The primary business focus of GLOBAL CNC RESOURCES JSC is Exporting
Finished products. Key products include: Natural rubber, Rubber. |
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Additional Payment Information |
Selling:
Export-Telegraphic Transfer (T/T) - Received at time of transaction, Letter
of Credit (At-sight). Purchasing: Local-Credit - Secured with Post-dated
checks 30~60 days, Cash on delivery (COD). |
|
Additional Financial
Information |
Financial
Statement Were Prepared As At 2014-12-31 and 2013-12-31. 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. |
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Number of Employees at Address |
9 |
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Number of Employees at Group |
|
|
Number of Employees at Factory |
|
Additional Miscellaneous Information
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Issuing Authority |
Department Of Planning & Investment - Hanoi |
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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. |
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Domestic Sales & Purchases(Annual Sales Analysis, Annual Purchases Analysis, Percentage) |
International Sales (Export): 100%, Domestic Sales: 0%, Local Purchases: 100%, Imports: 0% |
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Reputation |
Reference checking for the purpose of establishing GLOBAL CNC RESOURCES JSC'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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Shareholders |
Total number of shareholders:3, Total number of shares:n/a. |
Financial
|
Financial Year |
2014-12 |
2013-12 |
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Number of Weeks |
52 |
52 |
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Currency |
VND |
VND |
|
Consolidated Accounts |
No |
No |
Profit and Loss
|
Revenue |
81.002.000.000 |
28.830.000.000 |
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Operating Costs |
76.509.000.000 |
28.302.000.000 |
|
Operating Profit |
4.493.000.000 |
528.000.000 |
|
Wages & Salaries |
- |
- |
|
Pension Costs |
- |
- |
|
Depreciation |
- |
- |
|
Amortisation |
- |
- |
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Financial Income |
95.000.000 |
176.000.000 |
|
Financial Expenses |
257.000.000 |
53.000.000 |
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Extraordinary Income |
- |
- |
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Extraordinary Costs |
- |
- |
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Profit before Tax |
4.331.000.000 |
651.000.000 |
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Tax |
953.000.000 |
163.000.000 |
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Profit after Tax |
3.378.000.000 |
488.000.000 |
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Dividends |
- |
- |
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Minority Interests |
- |
- |
|
Other Appropriations |
- |
- |
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Retained Profit |
3.378.000.000 |
488.000.000 |
Balance Sheet
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Land & Buildings |
0 |
0 |
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Plant & Machinery |
0 |
0 |
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Other Tangible Assets |
0 |
0 |
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Total Tangible Assets |
0 |
0 |
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Goodwill |
0 |
0 |
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Other Intangible Assets |
0 |
0 |
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Total Intangible Assets |
0 |
0 |
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Investments |
0 |
0 |
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Loans to Group |
0 |
0 |
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Other Loans |
0 |
0 |
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Miscellaneous Fixed Assets |
0 |
0 |
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Total Other Fixed Assets |
0 |
0 |
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Total Fixed Assets |
0 |
0 |
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Raw Materials |
0 |
0 |
|
Work in Progress |
0 |
0 |
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Finished Goods |
0 |
0 |
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Other Inventories |
0 |
0 |
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Total Inventories |
0 |
0 |
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Trade Receivables |
13.482.000.000 |
4.743.000.000 |
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Group Receivables |
0 |
0 |
|
Receivables Due after 1 year |
0 |
0 |
|
Miscellaneous Receivables |
0 |
0 |
|
Total Receivables |
13.482.000.000 |
4.743.000.000 |
|
Cash |
573.000.000 |
604.000.000 |
|
Other Current Assets |
4.920.000.000 |
468.000.000 |
|
Total Current Assets |
16.515.000.000 |
5.581.000.000 |
|
Total Assets |
16.515.000.000 |
5.581.000.000 |
|
Trade Payables |
0 |
0 |
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Bank Liabilities |
0 |
0 |
|
Other Loans or Finance |
6.724.000.000 |
3.530.000.000 |
|
Group Payables |
0 |
0 |
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Miscellaneous Liabilities |
16.000.000 |
207.000.000 |
|
Total Current Liabilities |
6.740.000.000 |
3.737.000.000 |
|
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 |
6.740.000.000 |
3.737.000.000 |
|
Called Up Share Capital |
0 |
0 |
|
Share Premium |
0 |
0 |
|
Revenue Reserves |
4.775.000.000 |
444.000.000 |
|
Other Reserves |
5.000.000.000 |
1.400.000.000 |
|
Total Shareholders Equity |
9.775.000.000 |
1.844.000.000 |
Other Financials
|
Contingent Liabilities |
|
|
|
Working Capital |
9.775.000.000 |
1.844.000.000 |
|
Net Worth |
0 |
0 |
Ratios
|
Pre Tax
Profit Margin |
5.35 |
2.26 |
|
Return On
Capital Employed |
|
|
|
Return On Total
Assets Employed |
26.22 |
11.66 |
|
Return On
Net Assets Employed |
44.31 |
35.3 |
|
Sales /
Net Working Capital |
8.29 |
15.63 |
|
Stock
Turnover Ratio |
|
|
|
Debtor Days |
60.75 |
60.05 |
|
Creditor Days |
|
|
|
Current Ratio |
2.45 |
1.49 |
|
Liquidity
Ratio Or Acid Test |
|
|
|
Current Debt
Ratio |
0.69 |
2.03 |
|
Gearing |
|
|
|
Equity In
Percentage |
|
|
|
Total Debt
Ratio |
0.69 |
2.03 |
Additional Financials
Gross
Profit
Current
Directors
|
Name |
Gender |
Address |
Date of Birth |
Position |
|
Chi Duc Ngo |
Male |
|
|
Managing Director Director |
|
Mai Phuong Tran |
Female |
|
|
Chief Accountant |
Previous
Directors
|
Name |
Gender |
Address |
Date of Birth |
Position |
Resignation Date |
|
No previous directors for this
company. |
|
|
|
|
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Share
Capital Structure
|
Nominal Share Capital |
5.000.000.000 |
|
Issued Share Capital |
5.000.000.000 |
Shareholders
|
Shareholder |
Address |
% Shares Held |
|
Ms. Dung Thi Nguyen |
Vietnam |
50 |
|
Mr. Chi Duc Ngo |
Vietnam |
26 |
|
Mr. Dung Viet Thach |
Vietnam |
24 |
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 63.93 |
|
|
1 |
INR 86.07 |
|
Euro |
1 |
INR 76.39 |
|
VND |
1 |
INR 0.0028 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
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 |
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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.