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MIRA INFORM REPORT
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Report No. : |
487790 |
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Report Date : |
31.01.2018 |
IDENTIFICATION DETAILS
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Name : |
DUY MINH JSC |
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Registered Office : |
349 Hoang Quoc Viet St Nghia Tan Ward, Cau Giay
Dist, Hanoi |
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Country : |
Vietnam |
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Financials (as on) : |
December 2016 |
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Date of Incorporation : |
29.06.2006 |
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Com. Reg. No.: |
0101983081 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
· Manufacture of other chemical products n.e.c. · Manufacture of other plastic products |
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No. of Employees : |
15 [2018] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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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
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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 |
DUYMINH JSC |
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Country |
VIET NAM |
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Company Registration Number |
0101983081 |
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Main Activity Code |
2059 |
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Main Activity Description |
Manufacture of other chemical products n.e.c. |
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Company Status |
Normal (Active) |
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Latest Turnover Figure |
25.622.000.000 |
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Latest Shareholder Equity Figure |
9.171.000.000 |
Basic
Information
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Business Name |
DUYMINH JSC |
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Registered Company Name |
DUY MINH JSC |
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Company Registration Number |
0101983081 |
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Country |
VIET NAM |
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VAT Registration Number |
0101983081 |
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VAT Registration Date |
2006-06-29 |
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Date of Company Registration |
2015-05-11 |
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Date of Starting Operations |
2015-05-11 |
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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 |
|
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Principal Activity Description |
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Contact Telephone Number |
[+84] 4-37916042 |
Main
Address
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Address |
Country |
Telephone |
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349 Hoang Quoc Viet St Nghia Tan Ward, Cau Giay
Dist, Hanoi |
VIET NAM |
[+84] 4-37916042 |
Other
Address
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Address |
Country |
Telephone |
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349 Hoang Quoc Viet St Nghia Tan Ward, Cau Giay
Dist, Hanoi |
VIET NAM |
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Previous
Address
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Address |
Country |
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House 51 Group 18 Nghia Do Ward, Cau Giay Dist,
Hanoi |
VIET NAM |
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Rm 12A04, CTM Building Cau Giay Hanoi |
VIET NAM |
Activities
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Activity Code |
Activity Description |
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2059 |
Manufacture of other chemical products n.e.c. |
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2229 |
Manufacture of other plastic products |
Email
Addresses
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Web
Pages
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Employee
Information
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Date Reported Number of Employees |
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2018 15 |
Banker
Information
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No banker information for this company. |
Advisors
Information
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No advisor information for this company. |
Miscellaneous
Information
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Fax Number |
[+84] 4-37916117 |
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Export Countries |
Africa, Asia / Pacific, Middle-East, Australia,
Bangladesh, Egypt, Israel, Japan, Kenya, Korea, South (Republic of Korea), Laos,
Libya, Malaysia, New Zealand, Papua
New Guinea, Philippines, Singapore, Sri Lanka,
Taiwan, Tanzania, Thailand, Yemen (Sanna). |
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Import Countries |
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Additional Business Information |
Core Business The primary business focus of DUY
MINH JSC is Manufacturing - Finished products. Key products include: Chemicals, Ethanol, Plastic products. An
integral part of the core business includes: Distribution. Supplementary Business: In addition to
the core business, DUY MINH JSC also is engaged in the following areas of
business: Exporting, Exporting - Finished products. |
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Additional Rating Information |
Average Credit Quality: Credit can proceed ONLY on
strict financing terms. Proposed Credit Limit: USD $56,000; Revision of Credit Limit: Periodic
/quarterly; Risk Index: Medium. |
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Additional Payment Information |
Selling Type: Local Terms: Cash on delivery (COD),
Credit - Unsecured 30~60 days. Export: Telegraphic Transfer (T/T) - Received
at time of transaction, Letter of Credit (At-sight). Purchasing Type: Local Terms:
Credit - Unsecured 30~60 days, Cash on delivery (COD). |
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Additional Financial Information |
Financial Statements were prepared as at 31.12.16.
Based on the corporate laws of Vietnam, legal entities which are a Joint
Stock Company are not required to make public disclosure of their annual
financials. Although basic financials were obtained for
reference. |
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Number of Employees at Address |
15 |
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Number of Employees at Group |
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Number of Employees at Factory |
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Additional
Miscellaneous Information
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Primary Business Activity |
Manufacturer. |
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Key Industry |
Chemicals. |
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Issuing Authority |
DEPARTMENT OF PLANNING & INVESTMENT – Hanoi. |
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Legal Form |
Joint Stock Company. |
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Legal Form – Abbreviation |
JSC. |
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Capital |
US$ 440259. |
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Note |
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. |
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Tax / VAT Details |
Tax Issuing Authority:
MINISTRY OF FINANCE; Local Name Used:
Gia Trj Gia Tang (Value Added Tax); Acronym: GTGT / VAT. |
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Previous Business License/S |
License Date: 22 Jun, 2006; License No.:
0103012816. |
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Primary Products[Products / Materials / Services Description: Activity] |
Chemicals, Ethanol, Plastic products:
Manufacturing, Exporting. |
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Domestic Sales and Purchases[Annual Sales Analysis: Percentage] |
Domestic Sales: 70%; International Sales
(Export): 30%. Local Purchases: 100%; Imports: 0%. |
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Reputation |
Reference checking for the purpose of establishing
DUY MINH 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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Office and Facilities |
The following information relates to the Business
Entity's office as listed above: Name: DUY MINH JSC - CAU GIAY DIST, HANOI; Primary Use: Office & Administration
facilities; Address: 349 Hoang Quoc
Viet St Nghia Tan Ward, Cau
Giay Dist, Hanoi; Country: Vietnam;
Status: Operational. |
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Quality Accreditation[Name: Accreditation Category] |
Quality Accreditation
Listings: INTERNATIONAL STANDARDS ORGANIZATION (ISO): 9001:2008; INTERNATIONAL STANDARDS ORGANIZATION (ISO): 9001:2015. |
Financial statements
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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 |
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Profit and Loss |
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Revenue |
25.622.000.000 |
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Operating Costs |
21.937.000.000 |
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Operating Profit |
3.685.000.000 |
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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 |
162.000.000 |
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Financial Expenses |
119.000.000 |
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Extraordinary Income |
2.622.000.000 |
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Extraordinary Costs |
6.185.000.000 |
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Profit before Tax |
165.000.000 |
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Tax |
1.000.000 |
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Profit after Tax |
164.000.000 |
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Dividends |
- |
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Minority Interests |
- |
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Other Appropriations |
- |
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Retained Profit |
164.000.000 |
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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 |
0 |
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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 |
3.053.000.000 |
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Loans to Group |
0 |
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Other Loans |
0 |
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Miscellaneous Fixed Assets |
0 |
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Total Other Fixed Assets |
3.053.000.000 |
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Total Fixed Assets |
3.053.000.000 |
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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 |
531.000.000 |
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Trade Receivables |
3.343.000.000 |
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Group Receivables |
0 |
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Receivables Due after 1 year |
0 |
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Miscellaneous Receivables |
4.605.000.000 |
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Total Receivables |
7.948.000.000 |
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Cash |
478.000.000 |
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Other Current Assets |
0 |
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Total Current Assets |
8.957.000.000 |
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Total Assets |
12.010.000.000 |
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Trade Payables |
1.565.000.000 |
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Bank Liabilities |
0 |
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Other Loans or Finance |
513.000.000 |
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Group Payables |
0 |
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Miscellaneous Liabilities |
761.000.000 |
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Total Current Liabilities |
2.839.000.000 |
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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 |
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Group Payables After 1 Year |
0 |
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Miscellaneous Liabilities Due After 1 Year |
0 |
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Total Long Term Liabilities |
0 |
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Total Liabilities |
2.839.000.000 |
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Called Up Share Capital |
10.000.000.000 |
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Share Premium |
0 |
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Revenue Reserves |
-1.027.000.000 |
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Other Reserves |
198.000.000 |
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Total Shareholders Equity |
9.171.000.000 |
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Other Financials |
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Contingent Liabilities |
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Working Capital 6.118.000.000 |
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Net Worth 0 |
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Ratios |
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Pre Tax Profit Margin |
0.64 |
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Return On Capital Employed |
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Return On Total Assets Employed |
1.37 |
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Return On Net Assets Employed |
1.8 |
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Sales / Net Working Capital |
4.19 |
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Stock Turnover Ratio |
2.07 |
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Debtor Days |
47.62 |
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Creditor Days |
22.29 |
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Current Ratio |
3.15 |
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Liquidity Ratio Or Acid Test |
2.97 |
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Current Debt Ratio |
0.31 |
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Gearing |
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Equity In Percentage |
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Total Debt Ratio |
0.31 |
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Additional
Financials
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|
Gross Profit |
Current
Directors
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Name |
Gender |
Position |
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Trang Huyen Ngo |
Female |
Managing Director |
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Huong Lan Ngo |
Female |
Deputy Managing Director |
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Hai Thi Hong Nguyen |
Male |
Director |
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Jenifer Hai Hong Nguyen |
Male |
Director |
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Jenifer Trang Huyen Ngo |
Female |
Director |
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Previous
Directors
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No previous directors for this company. |
Share
Capital Structure
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Nominal Share Capital 10.000.000.000 |
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Issued Share Capital 10.000.000.000 |
Shareholders
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Shareholder |
Address |
% Shares Held |
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Thuy Thi Nguyen |
Vietnam |
52 |
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Trang Huyen Ngo |
Vietnam |
30 |
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Huong Lan Ngo |
Vietnam |
18 |
Group
Structure
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No group structure information for this company |
Negative
Information
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No negative information for this company |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.75 |
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|
1 |
INR 89.39 |
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Euro |
1 |
INR 78.75 |
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VND |
1 |
INR 0.0028 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
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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.