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|
|
MIRA INFORM REPORT
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Report No. : |
489320 |
|
Report Date : |
31.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
KIM TIN MDF JSC |
|
|
|
|
Registered Office : |
Ton Duc Thang St Khu Phu Tan An Tan Phu Town, Dong Phu Dist, Binh Phuoc |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
December 2015 |
|
|
|
|
Date of Incorporation : |
16.08.2007 |
|
|
|
|
Com. Reg. No.: |
3800383036 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture of other products of wood; manufacture of articles of cork, straw and plaiting materials |
|
|
|
|
No. of Employees : |
200 |
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 : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 |
KIM
TIN MDF JSC |
|
Country |
VIET
NAM |
|
Company
Registration Number |
3800383036 |
|
Main
Activity Code |
1629 |
|
Main
Activity Description |
Manufacture
of other products of wood; manufacture of articles of cork, straw and
plaiting materials |
|
Company
Status |
Normal
(Active) |
|
Latest
Turnover Figure |
- |
|
Latest
Shareholder Equity Figure |
170.108.000.000 |
Basic Information
|
Business
Name |
KIM
TIN MDF JSC |
|
Registered
Company Name |
KIM
TIN MDF JSC |
|
Company
Registration Number |
3800383036 |
|
Country |
VIET
NAM |
|
VAT
Registration Number |
3800383036 |
|
VAT
Registration Date |
2007-10-16 |
|
Date
of Company Registration |
2014-10-30 |
|
Date
of Starting Operations |
2014-10-30 |
|
Legal
Form |
Joint
Stock Company |
|
Company
Status |
Normal
(Active) |
|
Contact
Telephone Number |
[+84]
271-3833142 |
Main Address
|
Address |
Country |
Telephone |
|
Ton Duc Thang St Khu Phu Tan An Tan Phu Town, Dong Phu Dist, Binh Phuoc |
VIET NAM |
[+84] 271-3833142 |
Other Address
|
Address |
Country |
Telephone |
|
Tan
Tien Commune, Dong Phu Dist, Binh Phuoc |
VIET
NAM |
|
|
52
Bon S'Dieng Quang Khe Commune, Dak Nong Glong, Dak Nong |
VIET
NAM |
|
|
69
Nguyen Thi St Ward 13, District 5, Ho Chi Minh |
VIET
NAM |
|
Previous Address
No
previous addresses for this company.
Activities
|
Activity
Code |
Activity
Description |
|
1629 |
Manufacture
of other products of wood; manufacture of articles of cork, straw and
plaiting materials |
Email
Addresses
Web
Pages
Employee
Information
|
Date
Reported |
Number
of Employees |
|
2017 |
200 |
Banker Name
ASIA
COMMERCIAL BANK LEASING CO LTD
Advisors Information
No
advisor information for this company.
Miscellaneous Information
|
Fax
Number |
[+84] 271-3833130 |
|
Export
Countries |
Asia / Pacific, North America, India, USA |
|
Import
Countries |
Asia / Pacific, Malaysia |
|
Additional
Business Information |
Core Business: The primary business focus of KIM TIN
MDF JSC is Manufacturing - Finished products. Key products include: MDF
boards, Plywoods, Veneers ,wood sheets, Wood products, An integral part of
the core business includes: Distribution, Supplementary Business: In addition
to the core business, KIM TIN MDF 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 31.12.15,
31.12.14 and 31.12.13. 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 |
200 |
Additional
Miscellaneous Information
|
Primary
Business Activity |
Manufacturer |
|
Key
Industry |
Plywood, Timber & Wood Products |
|
Issuing
Authority |
DEPT. OF PLANNING & INVESTMENT - Binh Phuoc |
|
Legal
Form |
Joint Stock Company |
|
Legal
Form - Abbreviation |
JSC |
|
Capital |
US$ 3,519,434 |
|
Note |
(1) 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 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: 3800383036, Date of Issuance: 16 Oct, 2007 |
|
Previous
Business License/S [License Date: License No.] |
16 Oct, 2007: 4403000091. |
|
Primary
Products [Products / Materials / Services Description: Activity] |
MDF boards, Plywoods, Veneers ,wood sheets, Wood
products: Manufacturing, Exporting. |
|
Domestic
Sales [Annual Sales Analysis: Percentage] |
Domestic Sales: 70%, International Sales (Export):
30% |
|
Domestic
Purchases [Annual Purchases Analysis: Percentage] |
Local Purchases: 50%, Imports: 50% |
|
Reputation |
Reference checking for the purpose of establishing KIM
TIN MDF 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: DONG A COMMERCIAL JOINT STOCK BANK,
Global Identifier: P1007587, SWIFT Code: EACBVNVX |
|
Local
Branches and Management |
Branch: KIM TIN MDF JSC - DAK NONG GLONG, DAK NONG,
Branch Address: 52 Bon S'Dieng Quang Khe Commune, Dak Nong Glong, Dak Nong,
Branch: KIM TIN MDF JSC - DISTRICT 5, HO CHI MINH, Branch Address: 69 Nguyen
Thi St Ward 13, District 5, Ho Chi Minh. |
|
Office
and Facilities |
The following information relates to the Business
Entity's office as listed above: Name: KIM TIN MDF JSC - DONG PHU DIST, BINH
PHUOC, Primary Use: Office & Administration facilities, Address: Ton Duc
Thang St Khu Phu Tan An Tan Phu Town, Dong Phu Dist, Binh Phuoc, Country:
Vietnam, Ownership of Property: Rented / Leased, Status: Operational. |
|
Factories
Size and Locations |
The following information relates to the Business
Entity's factory as listed above: Address: Tan Tien Commune, Dong Phu Dist,
Binh Phuoc. |
|
Strategic
Partner/S and Alliances |
Group / Alliance name: KIM TIN GROUP. |
|
Previous
Contact Details |
Telephone Number: 84-651-3833142, Fax Number:
84-651-3833130. |
Financial
|
Financial
Year |
2015-12 |
2014-12 |
2013-12 |
|
Number
of Weeks |
52 |
52 |
52 |
|
Currency |
VND |
VND |
VND |
|
Consolidated
Accounts |
No |
No |
No |
Profit and Loss
|
Revenue |
315.932.000.000 |
289.316.000.000 |
236.303.000.000 |
|
Operating
Costs |
71.067.000.000 |
35.200.000.000 |
19.904.000.000 |
|
Operating
Profit |
244.865.000.000 |
254.116.000.000 |
216.399.000.000 |
|
Wages
& Salaries |
- |
- |
- |
|
Pension
Costs |
- |
- |
- |
|
Depreciation |
- |
- |
- |
|
Amortisation |
- |
- |
- |
|
Financial
Income |
- |
- |
- |
|
Financial
Expenses |
- |
- |
- |
|
Extraordinary
Income |
33.000.000 |
1.102.000.000 |
81.000.000 |
|
Extraordinary
Costs |
189.255.000.000 |
235.692.000.000 |
213.451.000.000 |
|
Profit
before Tax |
55.643.000.000 |
19.526.000.000 |
3.029.000.000 |
|
Tax |
4.230.000.000 |
1.430.000.000 |
17.000.000 |
|
Profit
after Tax |
51.413.000.000 |
18.096.000.000 |
3.012.000.000 |
|
Dividends |
- |
- |
- |
|
Minority
Interests |
- |
- |
- |
|
Other
Appropriations |
- |
- |
- |
|
Retained
Profit |
51.413.000.000 |
18.096.000.000 |
3.012.000.000 |
Balance Sheet
|
Land
& Buildings |
0 |
0 |
0 |
|
Plant
& Machinery |
0 |
0 |
0 |
|
Other
Tangible Assets |
0 |
0 |
0 |
|
Total
Tangible Assets |
0 |
77.237.000.000 |
94.538.000.000 |
|
Goodwill |
0 |
0 |
0 |
|
Other
Intangible Assets |
0 |
0 |
0 |
|
Total
Intangible Assets |
0 |
253.000.000 |
0 |
|
Investments |
0 |
0 |
0 |
|
Loans
to Group |
0 |
0 |
0 |
|
Other
Loans |
0 |
0 |
0 |
|
Miscellaneous
Fixed Assets |
68.085.000.000 |
7.895.000.000 |
3.388.000.000 |
|
Total
Other Fixed Assets |
68.085.000.000 |
7.895.000.000 |
3.388.000.000 |
|
Total
Fixed Assets |
68.085.000.000 |
85.385.000.000 |
97.926.000.000 |
|
Raw
Materials |
0 |
0 |
0 |
|
Work
in Progress |
0 |
0 |
0 |
|
Finished
Goods |
0 |
0 |
0 |
|
Other
Inventories |
0 |
0 |
0 |
|
Total
Inventories |
68.847.000.000 |
34.360.000.000 |
45.020.000.000 |
|
Trade
Receivables |
0 |
50.507.000.000 |
29.923.000.000 |
|
Group
Receivables |
0 |
0 |
0 |
|
Receivables
Due after 1 year |
0 |
0 |
0 |
|
Miscellaneous
Receivables |
62.673.000.000 |
1.126.000.000 |
662.000.000 |
|
Total
Receivables |
62.673.000.000 |
51.633.000.000 |
30.585.000.000 |
|
Cash |
2.799.000.000 |
996.000.000 |
47.000.000 |
|
Other
Current Assets |
0 |
0 |
0 |
|
Total
Current Assets |
134.319.000.000 |
86.989.000.000 |
75.652.000.000 |
|
Total
Assets |
202.404.000.000 |
172.374.000.000 |
173.578.000.000 |
|
Trade
Payables |
15.676.000.000 |
19.253.000.000 |
7.899.000.000 |
|
Bank
Liabilities |
0 |
0 |
0 |
|
Other
Loans or Finance |
16.620.000.000 |
34.425.000.000 |
42.964.000.000 |
|
Group
Payables |
0 |
0 |
0 |
|
Miscellaneous
Liabilities |
0 |
0 |
0 |
|
Total
Current Liabilities |
32.296.000.000 |
53.678.000.000 |
50.863.000.000 |
|
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 |
0 |
12.132.000.000 |
|
Group
Payables After 1 Year |
0 |
0 |
0 |
|
Miscellaneous
Liabilities Due After 1 Year |
0 |
0 |
0 |
|
Total
Long Term Liabilities |
0 |
0 |
12.132.000.000 |
|
Total
Liabilities |
32.296.000.000 |
53.678.000.000 |
62.995.000.000 |
|
Called
Up Share Capital |
80.000.000.000 |
80.000.000.000 |
80.000.000.000 |
|
Share
Premium |
0 |
0 |
0 |
|
Revenue
Reserves |
90.108.000.000 |
38.696.000.000 |
30.583.000.000 |
|
Other
Reserves |
0 |
0 |
0 |
|
Total
Shareholders Equity |
170.108.000.000 |
118.696.000.000 |
110.583.000.000 |
Other Financials
|
Contingent
Liabilities |
|
|
|
|
Working
Capital |
102.023.000.000 |
33.311.000.000 |
24.789.000.000 |
|
Net
Worth |
0 |
118.443.000.000 |
0 |
Ratios
|
Pre
Tax Profit Margin |
17.61 |
6.75 |
1.28 |
|
Return
On Capital Employed |
|
|
2.47 |
|
Return
On Total Assets Employed |
27.49 |
11.33 |
1.75 |
|
Return
On Net Assets Employed |
32.71 |
16.45 |
2.74 |
|
Sales
/ Net Working Capital |
3.1 |
8.69 |
9.53 |
|
Stock
Turnover Ratio |
21.79 |
11.88 |
19.05 |
|
Debtor
Days |
|
63.72 |
46.22 |
|
Creditor
Days |
18.11 |
24.29 |
12.2 |
|
Current
Ratio |
4.16 |
1.62 |
1.49 |
|
Liquidity
Ratio Or Acid Test |
2.03 |
0.98 |
0.6 |
|
Current
Debt Ratio |
0.19 |
0.45 |
0.46 |
|
Equity
In Percentage |
|
68.96 |
|
|
Total
Debt Ratio |
0.19 |
0.45 |
0.57 |
Gross Profit
Current Directors
|
Name |
Gender |
Date
of Birth |
Position |
|
Thuat
Tien Pham |
Male |
1956-01-01 |
Managing
Director | |
Previous Directors
No
previous directors for this company.
Share Capital Structure
|
Nominal
Share Capital |
80.000.000.000 |
|
Issued
Share Capital |
80.000.000.000 |
Shareholders
|
Shareholder |
Address |
%
Shares Held |
|
Ms.
Xuan Thi Trinh |
Vietnam |
40.8 |
|
Ms.
Kim Quy Thi Tran |
Vietnam |
26.35 |
|
Mr.
Thang Nang Le |
Vietnam |
15 |
|
Mr.
Thuat Tien Pham |
Vietnam |
15 |
|
Mr.
Giang Binh Nguyen |
Vietnam |
2.55 |
Ultimate
Holding Parent
No
Ultimate Holding Parent for this company.
Immediate
Holding Parent
No Immediate Holding Parent for this company.
Subsidaries
No subsidaries for this company.
Affiliates
|
Name |
Status |
Registration Number |
Address |
|
KIM TIN CORP |
Active |
P3420283 |
Tan Tao Industrial Zone Lot 10-12 Rd 9 Tan Tao Ward, Binh Tan Dist, Ho Chi Minh |
|
KIM TIN TRADING CO LTD |
Active |
P0386912 |
69 Nguyen Thi St Ward 13, District 5, Ho Chi Minh |
Negative Information
No negative information for this company
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.75 |
|
|
1 |
INR 89.39 |
|
Euro |
1 |
INR 78.54 |
|
VND |
1 |
INR 0.0028 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
TRU |
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.