|
|
|
MIRA INFORM REPORT
|
Report No. : |
483967 |
|
Report Date : |
06.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
OPEC PLASTICS JSC |
|
|
|
|
Registered Office : |
13Fl BIDV Tower 194 Tran Quang Khau Ly Thai To Ward, Hoan Kiem Dist, Hanoi |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
December 2016 |
|
|
|
|
Date of Incorporation : |
14.09.2009 |
|
|
|
|
Com. Reg. No.: |
0104160054 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture of other plastic products |
|
|
|
|
No. of Employees : |
400 [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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 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
name
OPEC PLASTICS JSC
Company Summary
|
Business Name |
OPEC PLASTICS JSC |
|
Country |
VIET NAM |
|
Company Registration Number |
0104160054 |
|
Main Activity Code |
2229 |
|
Main Activity Description |
Manufacture of other plastic products |
|
Company Status |
Normal (Active) |
|
Latest Turnover Figure |
- |
|
Latest Shareholder Equity Figure |
578.014.000.000 |
Basic Information
|
Business Name |
OPEC PLASTICS JSC |
|
Registered Company Name |
OPEC PLASTICS JSC |
|
Company Registration Number |
0104160054 |
|
Country |
VIET NAM |
|
VAT Registration Number |
0104160054 |
|
VAT Registration Date |
2009-09-14 |
|
Date of Company Registration |
2011-01-26 |
|
Date of Starting Operations |
2011-01-26 |
|
Legal Form |
Joint Stock Company |
|
Type of Ownership |
Registered ownership by Subject Business Entity |
|
Company Status |
Normal (Active) |
|
Contact Telephone Number |
[+84] 24-37951070 [+84] 24-73068868 |
Main Address
|
Address |
Country |
Telephone |
|
13Fl BIDV Tower 194 Tran Quang Khau Ly Thai To Ward, Hoan
Kiem Dist, Hanoi |
VIET NAM |
[+84] 24-37951070 [+84] 2473068868 |
Other Address
|
Address |
Country |
Telephone |
|
Lot 16 Rd 206A Pho Noi A IZ Dinh Du Commune, Van Lam Dist,
Hung Yen, Hung Yen |
VIET NAM |
|
|
6Fl Landmark Bldg 5B Ton Duc Thang St, District 1, Ho Chi
Minh |
VIET NAM |
|
|
Rm 703, 7Fl LP Bldg 508 Le Thanh Tong St Van My Ward, Ngo
Quyen Dist, Haiphong |
VIET NAM |
|
|
K56 National Rd 5 Nam Dong, Hai Duong, Hai Duong |
VIET NAM |
|
|
15Fl BITEXCO Tower 19-25 Nguyen Hue, District 1, Ho Chi
Minh |
VIET NAM |
84-8-39141862 |
|
Lot 9B, 8 KCN Tan Tao, Binh Tan Dist, Ho Chi Minh |
VIET NAM |
|
|
47, 55 A St Tan Tao Ward, Binh Tan Dist, Ho Chi Minh |
VIET NAM |
|
|
C1-13 Van Tuong Urban Area, Binh Son Dist, Quang Ngai |
VIET NAM |
|
No previous addresses for this company.
Activities
|
Activity Code |
Activity Description |
|
2229 |
Manufacture of other plastic products |
Employee
Information
|
Date Reported |
Number of Employees |
|
2018 |
400 |
Banker Information
|
Banker Name |
Banker Address |
Phone Number |
|
JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM |
|
BFTV |
No advisor information for this
company.
Miscellaneous
Information
|
Fax Number |
[+84] 24-37951071 |
|
Export Countries |
Asia / Pacific, North America, USA |
|
Import Countries |
Asia / Pacific, Korea, South (Republic
of Korea), Singapore, Taiwan, Thailand |
|
Additional Business Information |
The primary business focus of OPEC
PLASTICS JSC is Manufacturing - Finished products. Key products include:
GPPS, Ldpe, resins, ABS resin, PET resin, PP resin, Plastic products, Plastic
resins. An integral part of the core business includes: Distribution,
Supplementary Business: In addition to the core business, OPEC PLASTICS JSC
also is engaged in the following areas of business: 1. Exporting, Exporting -
Finished products, 2. Importing, Importing - Raw materials. |
|
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. |
|
Additional Financial Information |
Financial Statements were prepared
as at 31.12.16, 31.12.15 and 31.12.14. Financials - Summary (Currency: USD -
US Dollar): [Year: Turnover: Assets: Net Income]; 2012 Annual: 96,842,926,
32,704,015, 1,996,191, 2013 Annual: 177,999,193, 58,155,954, 4,037,445. 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 |
400 |
Additional
Miscellaneous Information
|
Primary Business Activity |
Manufacturer |
|
Key Industry |
Plastics & Products |
|
Issuing Authority |
Department Of Planning &
Investment - Hanoi |
|
Legal Form |
Joint Stock Company |
|
Legal Form - Abbreviation |
JSC |
|
Capital |
US$ 6,598,413 |
|
Note |
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 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. |
|
Factory Contact Details |
Address: Lot 16 Rd 206A Pho Noi A
IZ Dinh Du Commune, Van Lam Dist, Hung Yen, Hung Yen. |
|
Tax / VAT Details |
Tax Issuing Authority: Ministry Of
Finance, Acronym: GTGT / VAT, GTGT / VAT Number: 0104160054, Date of
Issuance: 14 Sep, 2009. |
|
Previous Business License/S [License Date: License No.] |
14 Sep, 2009: 0103040624 |
|
Primary Products [Products / Materials / Services
Description: Activity] |
ABS resin, GPPS, Ldpe, resins, PET
resin, PP resin: Manufacturing, Exporting. |
|
Domestic Sales [Annual Sales Analysis: Percentage] |
Domestic Sales: 50%,International
Sales (Export): 50% |
|
Domestic Purchases [Annual Purchases Analysis: Percentage] |
Local Purchases: 30%, Imports: 70% |
|
Capital (Currency: VND - Vietnam Dong) [Date: Authorized
Capital - History] |
14 Sep, 2009: 30,000,000,000, 2012:
55,000,000,000, 2013: 100,000,000,000, 2016: 150,000,000,000 |
|
Reputation |
Reference checking for the purpose
of establishing OPEC PLASTICS 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: MILITARY COMMERCIAL JOINT
STOCK BANK, Global Identifier: P0387295, SWIFT Code: MSCBVNVX, Bank Name: SAI
GON HA NOI COMMERCIAL JOINT STOCK BANK, Global Identifier: P1295387, SWIFT
Code: SHBAVNVX, Bank Name: VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY
& TRADE, Global Identifier: 32404058, Branch: VIETNAM JOINT STOCK
COMMERCIAL BANK FOR INDUSTRY AND TRADE - HANOI, Branch Address: Hanoi, SWIFT
Code: ICBVVNVX, Bank Name: VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY
& TRADE, Global Identifier: 32404058, Branch: VIETNAM JOINT STOCK
COMMERCIAL BANK FOR INDUSTRY AND TRADE - DONG DA, HANOI, SWIFT Code:
ICBVVNVX. |
|
Office and Facilities |
The following information relates
to the Business Entity's office as listed above: Name: OPEC PLASTICS JSC -
HOAN KIEM DIST, HANOI, Primary Use: Office & Administration facilities,
Building Size: 10,000 Square meters, Address: 13Fl BIDV Tower 194 Tran Quang
Khau Ly Thai To Ward, Hoan Kiem Dist, Hanoi, Country: Vietnam, Status:
Operational. |
|
Factories Size and Locations |
The following information relates
to the Business Entity's factory as listed above: Address: Lot 16 Rd 206A Pho
Noi A IZ Dinh Du Commune, Van Lam Dist, Hung Yen, Hung Yen. |
|
Previous Contact Details |
Telephone Number: 84-4-37951070, Fax
Number: 84-4-37951071. |
FINANCIALS
|
Financial Year |
2016-12 |
2015-12 |
2014-12 |
|
Number of Weeks |
52 |
52 |
5 |
|
Currency |
VND |
VND |
VND |
|
Consolidated Accounts |
No |
No |
No |
|
Profit and Loss |
|
|
|
|
Revenue |
6.499.524.000.000 |
5.162.024.000.000 |
4.617.805.000.000 |
|
Operating Costs |
6.293.882.000.000 |
4.939.588.000.000 |
4.423.328.000.000 |
|
Operating Profit |
205.642.000.000 |
222.436.000.000 |
194.477.000.000 |
|
Wages & Salaries |
- |
- |
- |
|
Pension Costs |
- |
- |
- |
|
Depreciation |
- |
- |
- |
|
Amortisation |
- |
- |
- |
|
Financial Income |
80.555.000.000 |
59.397.000.000 |
55.112.000.000 |
|
Financial Expenses |
62.277.000.000 |
91.374.000.000 |
51.420.000.000 |
|
Extraordinary Income |
9.470.000.000 |
4.792.000.000 |
1.423.000.000 |
|
Extraordinary Costs |
79.160.000.000 |
77.277.000.000 |
89.598.000.000 |
|
Profit before Tax |
154.230.000.000 |
117.974.000.000 |
109.994.000.000 |
|
Tax |
30.846.000.000 |
25.954.000.000 |
24.199.000.000 |
|
Profit after Tax |
123.384.000.000 |
92.020.000.000 |
85.795.000.000 |
|
Dividends |
- |
- |
- |
|
Minority Interests |
- |
- |
- |
|
Other Appropriations |
- |
- |
- |
|
Retained Profit |
123.384.000.000 |
92.020.000.000 |
85.795.000.000 |
|
Balance Sheet |
|
|
|
|
Land & Buildings |
0 |
0 |
0 |
|
Plant & Machinery |
0 |
0 |
0 |
|
Other Tangible Assets |
0 |
0 |
0 |
|
Total Tangible Assets |
62.367.000.000 |
52.445.000.000 |
0 |
|
Goodwill |
0 |
0 |
0 |
|
Other Intangible Assets |
0 |
0 |
0 |
|
Total Intangible Assets |
0 |
0 |
0 |
|
Investments |
207.838.000.000 |
126.626.000.000 |
88.338.000.000 |
|
Loans to Group |
0 |
0 |
0 |
|
Other Loans |
0 |
0 |
0 |
|
Miscellaneous Fixed Assets |
437.000.000 |
0 |
146.013.000.000 |
|
Total Other Fixed Assets |
282.809.000.000 |
190.887.000.000 |
163.588.000.000 |
|
Total Fixed Assets |
282.809.000.000 |
190.887.000.000 |
163.588.000.000 |
|
Raw Materials |
0 |
0 |
0 |
|
Work in Progress |
0 |
0 |
0 |
|
Finished Goods |
0 |
0 |
0 |
|
Other Inventories |
0 |
0 |
0 |
|
Total Inventories |
459.317.000.000 |
369.560.000.000 |
758.888.000.000 |
|
Trade Receivables |
616.406.000.000 |
653.241.000.000 |
0 |
|
Group Receivables |
0 |
0 |
0 |
|
Receivables Due after 1 year |
0 |
0 |
0 |
|
Miscellaneous Receivables |
1.547.467.000.000 |
897.528.000.000 |
979.988.000.000 |
|
Total Receivables |
2.163.873.000.000 |
1.550.769.000.000 |
979.988.000.000 |
|
Cash |
46.274.000.000 |
54.116.000.000 |
625.000.000 |
|
Other Current Assets |
0 |
0 |
0 |
|
Total Current Assets |
2.739.657.000.000 |
1.997.219.000.000 |
2.227.185.000.000 |
|
Total Assets |
3.022.466.000.000 |
2.188.106.000.000 |
2.390.773.000.000 |
|
Trade Payables |
1.399.924.000.000 |
984.466.000.000 |
549.535.000.000 |
|
Bank Liabilities |
0 |
0 |
0 |
|
Other Loans or Finance |
972.173.000.000 |
787.017.000.000 |
1.515.030.000.000 |
|
Group Payables |
0 |
0 |
0 |
|
Miscellaneous Liabilities |
72.355.000.000 |
6.507.000.000 |
2.568.000.000 |
|
Total Current Liabilities |
2.444.452.000.000 |
1.777.990.000.000 |
2.067.133.000.000 |
|
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 |
5.486.000.000 |
11.029.000.000 |
|
Group Payables After 1 Year |
0 |
0 |
0 |
|
Miscellaneous Liabilities Due After 1 Year |
0 |
0 |
0 |
|
Total Long Term Liabilities |
0 |
5.486.000.000 |
11.029.000.000 |
|
Total Liabilities |
2.444.452.000.000 |
1.783.476.000.000 |
2.078.162.000.000 |
|
Called Up Share Capital |
578.014.000.000 |
404.630.000.000 |
312.611.000.000 |
|
Share Premium |
0 |
0 |
0 |
|
Revenue Reserves |
0 |
0 |
0 |
|
Other Reserves |
0 |
0 |
0 |
|
Total Shareholders Equity |
578.014.000.000 |
404.630.000.000 |
312.611.000.000 |
|
Other Financials |
|
|
|
|
Contingent Liabilities |
|
|
|
|
Working Capital |
295.205.000.000 |
219.229.000.000 |
160.052.000.000 |
|
Net Worth |
0 |
0 |
0 |
|
Ratios |
|
|
|
|
Pre Tax Profit Margin |
2.37 |
2.29 |
2.38 |
|
Return On Capital Employed |
|
28.77 |
33.99 |
|
Return On Total Assets Employed |
5.1 |
5.39 |
4.6 |
|
Return On Net Assets Employed |
26.68 |
29.16 |
35.19 |
|
Sales / Net Working Capital |
22.02 |
23.55 |
28.85 |
|
Stock Turnover Ratio |
7.07 |
7.16 |
16.43 |
|
Debtor Days |
34.62 |
46.19 |
|
|
Creditor Days |
78.62 |
69.61 |
43.44 |
|
Current Ratio |
1.12 |
1.12 |
1.08 |
|
Liquidity Ratio Or Acid Test |
0.93 |
0.92 |
0.71 |
|
Current Debt Ratio |
4.23 |
4.39 |
6.61 |
|
Gearing |
|
|
|
|
Equity In Percentage |
|
|
|
|
Total Debt Ratio |
4.23 |
4.41 |
6.65 |
Current Directors
|
Name |
Gender Address |
Date of Birth |
Position |
|
Thang Duc Dinh |
Male |
1978-01-01 |
Chairman |
|
Le Vinh Thi Nguyen |
Female |
1981-01-01 |
Chief Accountant |
|
Tien Trong Nguyen |
Male |
1982-01-01 |
Assist. Managing Director |
|
Tu Minh Nguyen |
Male |
1979-01-01 |
Managing Director |
No previous directors for this company.
Share Capital
Structure
|
Nominal Share Capital |
150.000.000.000 |
|
Issued Share Capital |
100.000.000.000 |
Shareholders
|
Shareholder |
Address |
% Shares Held |
|
Mr. Thang Duc Dinh |
Vietnam |
50 |
|
Mr. Tu Minh Nguyen |
Vietnam |
30 |
|
Undisclosed Shareholders |
|
15 |
|
Mr. Ha Duc Nguyen |
Vietnam |
5 |
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 |
|
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 |
|
|
|
|
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.