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MIRA INFORM REPORT
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Report No. : |
483617 |
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Report Date : |
06.01.2018 |
IDENTIFICATION DETAILS
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Name : |
ANNONG GROUP CO LTD |
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Registered Office : |
Lot H7 St 5 Hai Son
Industrial Zone (GD3+4) Binh Tien 2
Group Duc Hoa Ha Commune, Duc Hoa,
Long An |
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Country : |
Vietnam |
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Financials (as on) : |
December 2016 |
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Date of Incorporation : |
12.11.2013 |
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Com. Reg. No.: |
1101724106 |
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Legal Form : |
Private Company with Limited Liability |
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Line of Business : |
Manufacture of agricultural and
forestry machinery |
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No. of Employees : |
300 (2017) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
C |
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Credit Rating |
Explanation |
Rating Comments |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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) |
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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.
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Source
: CIA |
Company
Summary
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Business Name |
AN GROUP |
|
Country |
VIET NAM |
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Company Registration Number |
1101724106 |
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Main Activity Code |
2830 |
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Main Activity Description |
Manufacture of agricultural and
forestry machinery |
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Company Status |
Normal (Active) |
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Latest Turnover Figure |
- |
|
Latest Shareholder Equity Figure |
12.946.000.000 |
Basic
Information
|
Business Name |
AN GROUP |
|
Registered Company Name |
ANNONG GROUP CO LTD |
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Company Registration Number |
1101724106 |
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Country |
VIET NAM |
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VAT Registration Number |
1101724106 |
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VAT Registration Date |
2013-11-12 |
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Date of Company Registration |
2013-11-12 |
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Date of Starting Operations |
2013-11-12 |
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Commercial Court |
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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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Principal Activity Code |
|
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Principal Activity Description |
|
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Contact Telephone Number |
[+84] 272-3779901 [+84] 272-3779900 [+84]-903908508 |
Main
Address
|
Address |
Country |
Telephone |
|
Lot H7 St
5 Hai Son Industrial Zone (GD3+4)
Binh Tien 2 Group Duc Hoa Ha
Commune, Duc Hoa, Long An |
VIET NAM |
[+84] 272-3779901 [+84] 272- 3779900 [+84]-903908508 |
Other
Address
|
Address |
Country |
Telephone |
|
464 St 7 Khu pho 8 Tan
Tao Ward, Binh Tan Dist, Ho Chi
Minh |
VIET NAM |
84-28-37626364 |
Previous
Address
|
Address |
Country |
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No previous addresses for this company.
|
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Activities
|
Activity Code |
Activity Description |
|
2830 |
Manufacture of agricultural and
forestry machinery |
Email
Addresses
annong@gmail.com
Web
Pages
http://www.annong.com.vn
Employee
Information
|
Date Reported |
Number of Employees |
|
2017 |
300 |
Banker
Information
|
Banker Name |
Banker Address |
Phone Number |
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No banker information for this
company. |
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Advisors
Information
|
Auditor Name |
Solicitor Name |
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No advisor information for this
company. |
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Miscellaneous
Information
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Fax
Number |
[+84] 272-3779901 [+84] 272-3779977 |
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Export
Countries |
Asia / Pacific, North America, Cambodia, USA |
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Import
Countries |
Asia / Pacific, China, Malaysia |
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Additional
Business Information |
The primary business focus of ANNONG GROUP CO LTD is
Manufacturing - Finished products. Key products include: Plant protection
products, Fertilizers, Pesticide. An integral part of the core business
includes: Distribution, Supplementary Business: In addition to the core
business, ANNONG GROUP CO LTD also is engaged in the following areas of
business: 1. Exporting, Exporting - Finished products, 2. Importing,
Importing - Raw materials, 3. Service, Specialized professional services, including:
Real estate. |
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Additional
Payment Information |
Selling Type: Local Terms: 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 Type: Local
Terms: Credit - Unsecured 30~60 days Cash on delivery (COD). Import: Letter
of Credit (At-sight) Telegraphic Transfer (T/T) - Executed at time of
transaction. |
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Additional
Financial Information |
Financial Statements were prepared as at 31.12.16. 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 |
300 |
|
Number of Employees at Group |
|
|
Number of Employees at Factory |
|
Additional Miscellaneous Information
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Primary
Business Activity |
Manufacturer |
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Key
Industry |
Agricultural
Products |
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Issuing
Authority |
Dept.
Of planning & investment - Long An |
|
Legal
Form |
Company
Limited |
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Legal
Form - Abbreviation |
CO
LTD |
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Capital |
US$
881,015 |
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Tax
/ VAT Details |
Tax
Issuing Authority: Ministry Of Finance, Acronym: GTGT / VAT, GTGT / VAT Number:
1101724106, Date of Issuance: 12 Nov, 2013. |
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Primary
Products [Products / Materials / Services Description: Activity] |
Fertilizers,
Pesticide, Plant protection products: Manufacturing, Exporting. |
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Domestic
Sales [Annual Sales Analysis: Percentage] |
Domestic
Sales: 60%, International Sales (Export): 40%. |
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Domestic
Purchases [Annual Purchases Analysis: Percentage] |
Local
Purchases: 70%, Imports: 30%. |
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Reputation |
Reference
checking for the purpose of establishing ANNONG GROUP 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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Local
Branches and Management |
Branch:
ANNONG GROUP CO LTD - BINH TAN DIST, HO CHI MINH, Branch Address: 464 St 7
Khu pho 8 Tan Tao Ward, Binh Tan Dist, Ho Chi Minh, Branch Tel:
84-28-37626364, Branch Fax: 84-28-37628262. |
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Office
and Facilities |
The
following information relates to the Business Entity's office as listed
above: Name: ANNONG GROUP CO LTD - DUC HOA, LONG AN, Primary Use: Office
& Administration facilities, Other Use: This facility is also used for
Manufacturing, Address: Lot H7 St 5 Hai Son Industrial Zone (GD3+4) Binh Tien
2 Group Duc Hoa
Ha Commune, Duc Hoa, Long An, Country: Vietnam, Status: Operational. |
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Strategic
Partner/S & Alliances |
Group
/ Alliance name: AN NONG GROUP. |
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Previous
Contact Details |
Telephone
Number: 84-72-3779900, Fax Number: 84-72-3779901, Fax
Number: 84-72-3779977. |
Financial
|
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 |
Profit and Loss
|
Revenue |
2.073.000.000 |
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Operating Costs |
- |
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Operating Profit |
2.073.000.000 |
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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 |
1.000.000 |
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Financial Expenses |
- |
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Extraordinary Income |
- |
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Extraordinary Costs |
3.802.000.000 |
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Profit before Tax |
-1.728.000.000 |
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Tax |
- |
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Profit after Tax |
-1.728.000.000 |
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Dividends |
- |
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Minority Interests |
- |
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Other Appropriations |
- |
|
Retained Profit |
-1.728.000.000 |
Balance Sheet
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Land & Buildings |
0 |
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Plant & Machinery |
0 |
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Other Tangible Assets |
0 |
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Total Tangible Assets |
7.343.000.000 |
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Goodwill |
0 |
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Other Intangible Assets |
0 |
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Total Intangible Assets |
0 |
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Investments |
9.644.000.000 |
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Loans to Group |
0 |
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Other Loans |
0 |
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Miscellaneous Fixed Assets |
10.700.000.000 |
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Total Other Fixed Assets |
20.344.000.000 |
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Total Fixed Assets |
27.687.000.000 |
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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 |
0 |
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Trade Receivables |
4.899.000.000 |
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Group Receivables |
0 |
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Receivables Due after 1 year |
0 |
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Miscellaneous Receivables |
1.761.000.000 |
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Total Receivables |
6.660.000.000 |
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Cash |
339.000.000 |
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Other Current Assets |
0 |
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Total Current Assets |
6.999.000.000 |
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Total Assets |
34.686.000.000 |
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Trade Payables |
0 |
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Bank Liabilities |
0 |
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Other Loans or Finance |
21.650.000.000 |
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Group Payables |
0 |
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Miscellaneous Liabilities |
90.000.000 |
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Total Current Liabilities |
21.740.000.000 |
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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 |
|
Group Payables After 1 Year |
0 |
|
Miscellaneous Liabilities Due After
1 Year |
0 |
|
Total Long Term Liabilities |
0 |
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Total Liabilities |
21.740.000.000 |
|
Called Up Share Capital |
20.000.000.000 |
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Share Premium |
0 |
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Revenue Reserves |
-3.725.000.000 |
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Other Reserves |
-3.329.000.000 |
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Total Shareholders Equity |
12.946.000.000 |
Other Financials
|
Contingent Liabilities |
|
|
Working Capital |
-14.741.000.000 |
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Net Worth |
0 |
Ratios
|
Pre Tax Profit Margin |
-83.36 |
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Return On Capital Employed |
|
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Return On Total Assets Employed |
-4.98 |
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Return On Net Assets Employed |
-13.35 |
|
Sales / Net Working Capital |
-0.14 |
|
Stock Turnover Ratio |
236.32 |
|
Debtor Days |
862.58 |
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Creditor Days |
|
|
Current Ratio |
0.32 |
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Liquidity Ratio Or Acid Test |
|
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Current Debt Ratio |
1.68 |
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Gearing |
|
|
Equity In Percentage |
|
|
Total Debt Ratio |
1.68 |
Additional
Financials
Gross Profit
Current
Directors
|
Name |
Gender |
Address |
Date of |
Position |
|
|
|
|
Birth |
|
|
Thuy Truong Thi Truong |
Female |
|
1966-01-01 |
Managing Director |
|
Minh Hong Duong |
Female |
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Chief Accountant |
|
Nga Thi Le |
Female |
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|
Deputy Managing Director |
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 |
20.000.000.000 |
|
Issued Share Capital |
20.000.000.000 |
Shareholders
|
Shareholder |
Address |
% Shares Held |
|
Mr. Kien Ngoc Nguyen |
Vietnam |
60 |
|
Mr. Hai Hoang |
Vietnam |
20 |
|
Ms. Thuy Truong Thi Truong |
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 63.38 |
|
|
1 |
INR 86.02 |
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Euro |
1 |
INR 76.50 |
|
VND |
1 |
INR 0.0028 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
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 |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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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.