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MIRA INFORM REPORT
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Report No. : |
487468 |
|
Report Date : |
30.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
DAI THIEN LOC CORP |
|
|
|
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Registered Office : |
Song Than 3 Industrial Zone Lot CN8 CN5 Rd Phu Tan Ward, Thu Dau Mot, Binh
Duong |
|
|
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Country : |
Vietnam |
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|
|
|
Financials (as on) : |
31.12.2016 |
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|
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Date of Incorporation : |
30.08.2001 |
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Com. Reg. No.: |
3700381282 |
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|
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|
Legal Form : |
Public Listed Company |
|
|
|
|
Line of Business : |
Wholesale of Metals and Metal Ores |
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|
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|
No. of Employees : |
600 [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 |
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|
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Payment Behaviour : |
Regular |
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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 |
|
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 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.
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 lead the dialogue
on key APEC priorities such as inclusive growth, innovation, food security and
climate change.
|
Source
: CIA |
Company
Summary
|
|
|
Business Name |
DAI THIEN LOC CORP |
|
Country |
VIET NAM |
|
Company Registration Number |
3700381282 |
|
Main Activity Code |
4672 |
|
Main Activity Description |
Wholesale of metals and metal ores |
|
Company Status |
Normal (Active) |
|
Latest Turnover Figure |
- |
|
Latest Shareholder Equity Figure |
910.578.491.130 |
Basic
Information
|
|
|
Business Name |
DAI THIEN LOC CORP |
|
Registered Company Name |
DAI THIEN LOC CORP |
|
Company Registration Number |
3700381282 |
|
Country |
VIET NAM |
|
VAT Registration Number |
3700381282 |
|
VAT Registration Date |
2001-08-30 |
|
Date of Company Registration |
2012-01-12 |
|
Date of Starting Operations |
2012-01-12 |
|
Commercial Court |
|
|
Legal Form |
Public Listed Company |
|
Type of Ownership |
|
|
Company Status |
Normal (Active) |
|
Principal Activity Code |
|
|
Principal Activity Description |
|
|
Contact Telephone Number |
[+84] 274-3719999 [+84] 274-3849849 |
Main
Address
|
||
|
Address |
Country |
Telephone |
|
Song Than 3 Industrial Zone Lot CN8 CN5 Rd Phu Tan Ward, Thu Dau Mot, Binh
Duong |
VIET NAM |
[+84] 274-3719999 [+84] 274- 3849849 |
Other
Address
|
||
|
Address |
Country |
|
|
19 Cach Mang Thang Tam St, Long Huong Ward, Vung Tau, Ba Ria-Vung
Tau |
VIET NAM |
|
|
79A Tran Hung Dao
St, Hamlet 1, Long My Town Long My Dist, Can
Tho, Hau Giang |
VIET NAM |
|
|
295 Tran Hung Dao B St Ward 5, Vi Thanh, Hau Giang |
VIET NAM |
|
|
Giang Nam 2 Hamlet, Hoa Pho Commune,
Hoa Vang, Da Nang,
Quang Nam- Da Na |
VIET NAM |
|
|
105/49A Chieu Lieu Hamlet, Tan Dong Hiep Commune,
Di An Dist, Binh Duong |
VIET NAM |
|
Previous
Address
|
|
No previous addresses for this company. |
Activities
|
|
Activity Code Activity Description |
|
4672 Wholesale of Metals
and Metal Ores |
Email
Addresses
|
Web
Pages
|
Employee
Information
|
|
Date Reported Number of Employees |
|
2018 600 |
Banker
Information
|
||
|
Banker Name |
Banker Address |
Phone Number |
|
SAI GON THUONG TIN
COMMERCIAL JOINT STOCK BANK |
SAI GON THUONG TIN
COMMERCIAL JOINT STOCK BANK - GO VAP |
SGTT |
Advisors
Information
|
|
Auditor Name Solicitor
Name |
|
RSM VIETNAM AUDITING & CONSULTING CO LTD |
Miscellaneous
Information
|
|
|
Fax Number |
[+84] 274-3732983 [+84] 274-3793712 |
|
Export Countries |
Africa, Asia / Pacific, Middle-East, South America |
|
Import Countries |
Asia / Pacific, China, Taiwan. |
|
Additional Business Information |
Core Business: The primary business focus of DAI THIEN LOC CORP is Manufacturing - Finished products. Key products include: Deformed
bars, Steel angles, Steel beams, Steel channels, Steel pipes, Steel plate, Wire rods. An integral part of the
core business includes: Distribution, Supplementary Business: In addition to the
core business, DAI THIEN LOC CORP also is engaged
in the following areas of business: 1. Exporting, Exporting Finished products, 2.
Importing, Importing Raw materials. |
|
Additional Rating Information |
High Credit Qulaity: Credit can proceed with
favorable & flexible financing terms. Revision of Credit Limit: Annual,
Risk Index: Low. |
|
Additional Payment Information |
Selling Type: Local
Terms: 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: Local Terms: Credit
- Secured with
Post-dated checks 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
and 31.12.15. Financials - Summary (Currency: USD - US Dollar) [Year:
Turnover: Assets: Net Income]; 2013 Annual: 97,279,315, 108,062,730,
890,562; 2014 Annual: 99,543,432, 111,677,149, 309,951. |
|
Number of Employees at Address |
600 |
|
Number of Employees at Group |
|
|
Number of Employees at Factory |
|
Additional
Miscellaneous Information
|
|
|
Primary Business Activity |
Manufacturer |
|
Key Industry |
Metals & Metal Products |
|
Issuing Authority |
Dept. Of planning & investment - Binh Duong |
|
Legal Form |
Corporation |
|
Legal Form – Abbreviation |
CORP |
|
Capital |
US$ 27,019,360 |
|
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. (2) 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. |
|
Tax / VAT Details |
Tax Issuing
Authority: Ministry Of Finance,
Acronym: GTGT / VAT, GTGT /
VAT Number: 3700381282, Date of
Issuance: 30 Aug, 2001. |
|
Previous Business License/S |
License Date: License No. 11 Jul, 2001:
4602000250, 12 Apr, 2007: 4603000334. |
|
Primary Products [Products / Materials / Services Description:
Activity] |
Deformed bars, Steel angles, Steel beams, Steel
channels, Steel pipes: Manufacturing, Exporting. |
|
Domestic Sales [Annual Sales Analysis: Percentage] |
Domestic Sales: 60%, International Sales (Export):
40%. |
|
Domestic Purchases [Annual Purchases Analysis: Percentage] |
Local Purchases: 50%, Imports: 50% |
|
Stock Exchange Listing Details |
Country: Vietnam, Name
of Stock Exchange: Name, Acronym, HOCHIMINH STOCK EXCHANGE: HOSE, Stock Symbol / No.: DTL, Date of listing:
4 Jun, 2010. |
|
Reputation |
Reference checking for the purpose
of establishing DAI THIEN LOC CORP'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: VIETNAM BANK
FOR AGRICULTURE
& RURAL DEVELOPMENT, Global Identifier:
32408794, Branch: VIETNAM BANK FOR AGRICULTURE,
Branch Address: Song Than Industrial Zone, SWIFT Code: VBAAVNVX, Bank
Name: VIETNAM JOINT STOCK COMMERCIAL
BANK FOR INDUSTRY
& TRADE, Global Identifier: 32404058, Branch: VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY
AND TRADE, BINH DUONG, Branch Address: Binh Duong, SWIFT
Code: ICBVVNVX. |
|
Local Branches & Management |
Branch: DAI THIEN LOC CORP - VUNG TAU, BA RIA-VUNG TAU, Branch Address: 19 Cach Mang Thang Tam St, Long Huong Ward, Vung Tau, Ba Ria-Vung
Tau, Branch: DAI THIEN LOC CORP
CAN THO, HAU GIANG, Branch Address: 79A Tran Hung Dao St, Hamlet 1, Long My Town Long My
Dist, Can Tho, Hau Giang, Branch: DAI THIEN
LOC CORP - VI THANH, HAU
GIANG, Branch Address: 295 Tran Hung Dao B St Ward
5, Vi Thanh, Hau Giang, Branch: DAI THIEN LOC CORP - HOA VANG, DA NANG, Branch
Address: Giang Nam 2 Hamlet, Hoa Pho Commune,
Hoa Vang, Da Nang,
Quang Nam-Da Na, Branch:
DAI THIEN LOC CORP
- DI AN DIST, BINH DUONG, Branch Address: 105/49A Chieu Lieu Hamlet, Tan Dong Hiep Commune, Di An Dist, Binh
Duong |
|
Office & Facilities |
The following information relates to the Business
Entity's office as listed above: Name: DAI THIEN LOC CORP - THU DAU MOT, BINH DUONG, Primary Use: Office & Administration facilities, Building Size:
105,000 Square meters, Address:
Song Than 3 Industrial Zone Lot
CN8 CN5 Rd Phu Tan Ward, Thu Dau Mot, Binh Duong, Country: Vietnam,
Status: Operational. |
|
Previous Contact Details |
Telephone Number: 84-650-3849849, Fax Number:
84-650-3793712, Telephone Number: 84-650-3719999, Fax Number: 84-650-3732983. |
Financial statements
|
Financial Year |
2016-12 |
2015-12 |
|
Number of Weeks |
52 |
52 |
|
Currency |
VND |
VND |
|
Consolidated Accounts |
No |
No |
|
Profit and Loss |
||
|
Revenue |
2.886.917.996.370 |
1.855.969.852.890 |
|
Operating Costs |
2.547.545.336.215 |
1.739.954.096.344 |
|
Operating Profit |
339.372.660.155 |
116.015.756.546 |
|
Wages & Salaries |
- |
- |
|
Pension Costs |
- |
- |
|
Depreciation |
- |
- |
|
Amortisation |
- |
- |
|
Financial Income |
12.869.824.015 |
3.605.743.794 |
|
Financial Expenses |
67.362.498.216 |
94.045.871.104 |
|
Extraordinary Income |
- |
- |
|
Extraordinary Costs |
100.786.326.355 |
99.279.249.171 |
|
Profit before Tax |
184.093.659.599 |
-73.703.619.935 |
|
Tax |
-24.427.789.186 |
10.366.296.156 |
|
Profit after Tax |
208.521.448.785 |
-84.069.916.091 |
|
Dividends |
- |
- |
|
Minority Interests |
- |
- |
|
Other Appropriations |
- |
- |
|
Retained Profit |
208.521.448.785 |
-84.069.916.091 |
|
Balance Sheet |
||
|
Land & Buildings |
0 |
0 |
|
Plant & Machinery |
0 |
0 |
|
Other Tangible Assets |
0 |
0 |
|
Total Tangible Assets |
693.761.717.491 |
772.875.591.097 |
|
Goodwill |
0 |
0 |
|
Other Intangible Assets |
0 |
0 |
|
Total Intangible Assets |
10.705.462.888 |
11.002.568.990 |
|
Investments |
68.477.795 |
68.477.795 |
|
Loans to Group |
0 |
0 |
|
Other Loans |
0 |
0 |
|
Miscellaneous Fixed Assets |
89.563.321.188 |
77.229.640.343 |
|
Total Other Fixed Assets |
89.631.798.983 |
77.298.118.138 |
|
Total Fixed Assets |
794.098.979.362 |
861.176.278.225 |
|
Raw Materials |
0 |
0 |
|
Work in Progress |
0 |
0 |
|
Finished Goods |
0 |
0 |
|
Other Inventories |
0 |
0 |
|
Total Inventories |
1.451.768.251.316 |
1.302.484.336.509 |
|
Trade Receivables |
124.874.695.366 |
90.596.276.316 |
|
Group Receivables |
0 |
0 |
|
Receivables Due after 1 year |
0 |
0 |
|
Miscellaneous Receivables |
53.760.635.346 |
113.148.040.849 |
|
Total Receivables |
178.635.330.712 |
203.744.317.165 |
|
Cash |
62.813.237.717 |
44.678.752.480 |
|
Other Current Assets |
0 |
0 |
|
Total Current Assets |
1.693.216.819.745 |
1.550.907.406.154 |
|
Total Assets |
2.487.315.799.107 |
2.412.083.684.379 |
|
Trade Payables |
523.017.648.681 |
513.880.505.369 |
|
Bank Liabilities |
0 |
0 |
|
Other Loans or Finance |
861.514.181.334 |
979.396.421.412 |
|
Group Payables |
0 |
0 |
|
Miscellaneous Liabilities |
82.261.755.948 |
108.776.943.930 |
|
Total Current Liabilities |
1.466.793.585.963 |
1.602.053.870.711 |
|
Trade Payables After 1 Year |
0 |
0 |
|
Bank Liabilities After 1 Year |
0 |
0 |
|
Other Loans or Finance due after 1 year |
109.943.722.014 |
59.029.881.678 |
|
Group Payables After 1 Year |
0 |
0 |
|
Miscellaneous Liabilities Due After 1 Year |
0 |
5.000.000 |
|
Total Long Term Liabilities |
109.943.722.014 |
59.034.881.678 |
|
Total Liabilities |
1.576.737.307.977 |
1.661.088.752.389 |
|
Called Up Share Capital |
614.356.040.000 |
614.356.040.000 |
|
Share Premium |
0 |
0 |
|
Revenue Reserves |
164.302.852.274 |
4.716.293.134 |
|
Other Reserves |
131.919.598.856 |
131.922.598.856 |
|
Total Shareholders Equity |
910.578.491.130 |
750.994.931.990 |
|
Other Financials |
||
|
Contingent Liabilities |
||
|
Working Capital |
226.423.233.782 |
-51.146.464.557 |
|
Net Worth |
899.873.028.242 |
739.992.363.000 |
|
Ratios |
||
|
Pre Tax Profit Margin |
6.38 |
-3.97 |
|
Return On Capital Employed |
18.04 |
-9.1 |
|
Return On Total Assets Employed |
7.4 |
-3.06 |
|
Return On Net Assets Employed |
20.22 |
-9.81 |
|
Sales / Net Working Capital |
12.75 |
-36.29 |
|
Stock Turnover Ratio |
50.29 |
70.18 |
|
Debtor Days |
15.79 |
17.82 |
|
Creditor Days |
66.13 |
101.06 |
|
Current Ratio |
1.15 |
0.97 |
|
Liquidity Ratio Or Acid Test |
0.16 |
0.16 |
|
Current Debt Ratio |
1.61 |
2.13 |
|
Gearing |
||
|
Equity In Percentage |
36.77 |
31.28 |
|
Total Debt Ratio |
1.73 |
2.21 |
Additional
Financials
|
|
Gross Profit |
Current Directors
|
|||
|
Name |
Gender |
Date of Birth |
Position |
|
Nghia Thanh Nguyen |
Male |
1963-11-27 |
Chairman |
|
Phuong Kim Lam |
Female |
1974-09-10 |
Assist. Managing Director |
|
Khang Ngoc Le |
Male |
1987-07-10 |
Chief Accountant (2016-03-14) |
|
Loan Thanh Nguyen |
Female |
1989-02-21 |
Managing Director (2016-09-21) |
Previous
Directors
|
|
No previous directors for this company. |
Share
Capital Structure
|
|
Nominal Share Capital 614.354.040.000 |
|
Issued Share Capital 614.354.040.000 |
Shareholders
|
||
|
Shareholder |
Address |
% Shares Held |
|
Mr. Nghia Thanh Nguyen |
Vietnam |
50.2 |
|
TAM DUC STEEL MANUFACTURING CO LTD |
Vietnam |
19.57 |
|
Ms. Bich Lien Thi Nguyen |
Vietnam |
13.57 |
|
Ms. Loan Thanh Nguyen |
Vietnam |
10.73 |
|
Ms. Dung Thanh Nguyen |
Vietnam |
4.42 |
|
Public shareholding traded via Stock Exchange |
|
1.51 |
Ultimate
Holding Parent
|
|
No Ultimate Holding Parent for this company. |
Immediate
Holding Parent
|
|
No Immediate Holding Parent for this company. |
Subsidaries
|
|||
|
Name |
Status |
Registration Number |
Address |
|
DAI THIEN LOC STEEL ONE MEMBER CO LTD |
Active |
P3558056 |
Song Than 3 Industrial Zone 13D Lot CN8 Rd CN5 Phu Tan Ward, Thu Dau Mot, Binh
Duong |
|
DAI THIEN LOC STEEL SHEET ONE
MEMBER CO LTD |
Active |
P3558049 |
2, Lot A, Rd 22, Song Than 2 Industrial Zone,, Di
An Dist, Binh Duong |
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 63.55 |
|
|
1 |
INR 89.82 |
|
Euro |
1 |
INR 78.87 |
|
VND |
1 |
INR 0.0028 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.