|
|
|
MIRA INFORM REPORT
|
Report No. : |
512858 |
|
Report Date : |
01.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
QUANG BINH IMPORT EXPORT
JSC |
|
|
|
|
Registered Office : |
23 Lot 01 Area 97 Bach
Dang St Ha Ly Ward, Hong Bang Dist, Haiphong |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
December 2017 |
|
|
|
|
Date of Incorporation : |
12.03.2007 |
|
|
|
|
Com. Reg. No.: |
0200730878 |
|
|
|
|
Legal Form : |
Public Listed Company |
|
|
|
|
Line of Business : |
·
Manufacture of pesticides and other agrochemical products ·
Manufacture of fertilizers and nitrogen compounds |
|
|
|
|
No. of Employees : |
200 [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 |
|
Maximum Credit Limit : |
7,700,000 USD |
|
|
|
|
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 (30.09.2017) |
Current Rating (31.12.2017) |
|
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 since 1986 from the rigidities of a centrally planned, highly agrarian economy to a more industrial and market based economy, and it has raised 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. In 2017, Vietnam successfully chaired the Asia-Pacific Economic Cooperation (APEC) Conference with its key priorities including inclusive growth, innovation, strengthening small and medium enterprises, food security and climate change. Seeking to diversify its opportunities, Vietnam also continued to pursue other multilateral relationships, including the Comprehensive and Progressive Agreement for the Transpacific Partnership and the Regional Comprehensive Economic Partnership.
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’s public debt to GDP ratio is nearing the government mandated ceiling of 65%.
In 2016, Vietnam cancelled its civilian nuclear energy development program, citing public concerns about safety and the high cost of the program; it faces growing pressure on energy infrastructure. Overall, the country’s infrastructure fails to meet the needs of an expanding middle class. Vietnam has demonstrated a commitment to sustainable growth over the last several years, but the recent slowdown in economic growth could test the government’s resolve.
|
Source : CIA |
Company
name
QUANG BINH IMPORT EXPORT JSC
Company summary
|
Business
Name |
QUANG
BINH IMPORT AND EXPORT/ QUANG BINH |
|
Country |
VIET NAM |
|
Company Registration
Number |
0200730878 |
|
Main
Activity Code |
2020 |
|
Main
Activity Description |
Manufacture
of pesticides and other agrochemical products |
|
Company
Status |
Normal
(Active) |
|
Latest
Shareholder Equity Figure |
809.106.837.017 |
|
Credit
Limit |
7,700,000 USD |
Basic Information
|
Business
Name |
QUANG
BINH IMPORT AND EXPORT/ QUANG BINH |
|
Registered
Company Name |
QUANG
BINH IMPORT EXPORT JSC |
|
Company
Registration Number |
0200730878 |
|
Country |
VIET NAM |
|
VAT
Registration Number |
0200730878 |
|
VAT
Registration Date |
2007-03-15 |
|
Date of
Company Registration |
2012-11-22 |
|
Date of
Starting Operations |
2012-11-22 |
|
Legal
Form |
Public
Listed Company |
|
Company
Status |
Normal
(Active) |
|
Contact
Telephone Number |
[+84]
31-2642830, [+84] 31-2642831, [+84] 31-6263333 |
Main Address
|
Address |
Country |
Telephone |
|
23 Lot
01 Area 97 Bach Dang St Ha Ly Ward, Hong Bang Dist, Haiphong |
VIET NAM |
[+84]
31-2642830, [+84] 312642831, [+84] 31-6263333 |
Other Address
|
Address |
Country |
|
Ta Lung
Town Phuc Hoa Dist, Cao Bang |
VIET NAM |
|
30
Thuong Trung Area Ninh Duong Ward, Mong Cai, Quang Ninh |
VIET NAM |
|
Economic
Area Cha Lo Border Gate Dan Hoa Commune, Minh Hoa, Quang Binh |
VIET NAM |
|
Lot 52A
Ta Lung Border Gate Economic Zone Ta Lung Town Phuc Hoa Dist, Cao Bang |
VIET NAM |
|
Group 6
Cong Chanh Dong Son Commune Thuy Nguyen Dist, Hai Phong |
VIET NAM |
Previous Address
No
previous addresses for this company.
Activities
|
Activity
Code |
Activity
Description |
|
2020 |
Manufacture
of pesticides and other agrochemical products |
|
2015 |
Manufacture
of fertilisers and nitrogen compounds |
Email Addresses
Web Pages
http://www.quangbinhjsc.com.vn
Employee Information
|
Date
Reported |
Number
of Employees |
|
2018 |
200 |
Banker Information
MALAYAN
BANKING BHD (MAYBANK) Hanoi
Advisors Information
No
advisor information for this company.
Miscellaneous Information
|
Fax
Number |
[+84] 31-3533679 |
|
Export
Countries |
Asia / Pacific, Australia, India, Japan, Korea, South (Republic of
Korea). |
|
Import
Countries |
Asia / Pacific, Europe, China, Korea, South (Republic of Korea),
Russia. |
|
Additional
Business Information |
Core Business: The primary business focus of QUANG BINH IMPORT EXPORT
JSC is Manufacturing -Finished products. Key products include: Coal Dust, Agricultural
chemicals, Fertilizers, Lime, Minerals, Sulfur. An integral part of the core
business includes: Distribution. Supplementary Business: In addition to the
core business, QUANG BINH IMPORT EXPORT JSC also is engaged in the following
areas of business: 1. Exporting: Exporting - Finished products. 2. Importing:
Importing - Raw materials. 3. Trading: Trading - Finished products. |
|
Additional
Payment Information |
Selling: Local: 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: Import: Letter of Credit (At-sight),
Telegraphic Transfer (T/T) - Executed at time of transaction; Local: Credit -
Unsecured 30~60 days, Cash on delivery (COD). |
|
Additional
Financial Information |
Financial statement were prepared as at 2017-12-01, 2016-12-01 and
2015-12-01. |
|
Number
of Employees at Address |
200 |
Additional Miscellaneous Information
|
Primary
Business Activity |
Manufacturer |
|
Key
Industry |
Chemicals |
|
Registered
Legal Address |
23 Lot 01 Area 97 Bach Dang St Ha Ly Ward, Hong Bang Dist, Haiphong |
|
Issuing
Authority |
Dept. Of Planning & Investment - Hai Phong |
|
Capital |
US$ 30,431,675 |
|
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 (if available) and the corresponding
License numbers, are listed in PREVIOUS BUSINESS LICENSE/S below. |
|
Tax /
VAT Details |
Tax Issuing Authority: MINISTRY OF FINANCE, Local Name Used: Gia Trj
Gia Tang (Value Added Tax), Acronym: GTGT / VAT. |
|
Previous
Business License/S |
License Date: 12 Mar, 2007, License No.: 0203002893. |
|
Domestic
Sales & Purchases |
Annual Sales Analysis: International Sales (Export): 70%, Domestic
Sales: 30%. Annual Purchases Analysis: Local Purchases: 30%, Imports: 70%. |
|
Stock
Exchange Listing Details |
Country: Vietnam, Name of Stock Exchange: Name: Acronym: HOCHIMINH
STOCK EXCHANGE: HOSE, Stock Symbol / No.: QBS, Date of listing: 4 Nov, 2014. |
|
Capital |
Date: Authorized Capital - History: 12 Mar, 2007: 320,000,000,000; 12
Mar, 2015: 693,299,280,000. Date: Paid-up Capital - History: 12 Mar, 2007:
320,000,000,000; 12 Mar, 2015: 693,299,280,000. |
|
Reputation |
The QUANG BINH IMPORT EXPORT JSC maintains a good and well-established
reputation in the local market. |
|
Nega-Scan
- Adverse Data Monitoring |
Dishonored Checks, Debt, Civil Litigation, Performance Defaults,
Adverse Local Media Coverage / Adverse Filing History: No Record Found. |
|
Bank
Details |
1. Bank Name: MALAYAN BANKING BHD (MAYBANK), Global Identifier:
P0062476, SWIFT Code: MBBEVNVX. 2. Bank Name: MILITARY COMMERCIAL JOINT STOCK
BANK, Global Identifier: P0387295, Branch: MILITARY COMMERCIAL JOINT STOCK
BANK - HAI PHONG, Branch Address: Hai Phong, SWIFT Code: MSCBVNVX. 3. Bank
Name: VIETNAM BANK FOR AGRICULTURE & RURAL DEVELOPMENT, Global Identifier:
32408794, Branch: VIETNAM BANK FOR AGRICULTURE , Branch Address: Thu Do,
SWIFT Code: VBAAVNVX. 4. Bank Name: VIETNAM JOINT STOCK COMMERCIAL BANK FOR
INDUSTRY & TRADE, Global Identifier: 32404058, Branch: VIETNAM JOINT
STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE -HAI PHONG, Branch Address: Hai
Phong, SWIFT Code: ICBVVNVX. 5. Bank Name: VIETNAM PROSPERITY JOINT STOCK
COMMERCIAL BANK, Global Identifier: P1854843, Branch: VIETNAM PROSPERITY
JOINT STOCK COMMERCIAL BANK - HANOI, Branch Address: Hanoi, SWIFT Code:
VPBKVNVX. |
|
International
Trade - Statistics (Currency:
USD - US Dollar) [Year: Imports: Exports: Total] |
1. 2012: n/a: 80,402,019: 80,402,019. 2. 2013: n/a: 64,394,746:
64,394,746. |
|
Office
& Facilities |
The following information relates to the Business Entity's office as
listed above: Name: QUANG BINH IMPORT EXPORT JSC - HONG BANG DIST, HAIPHONG,
Primary Use: Office & Administration facilities, Address: 23 Lot 01 Area
97 Bach Dang St Ha Ly Ward, Hong Bang Dist, Haiphong, Country: Vietnam, Status: Operational. |
Primary Products
|
Products
/ Materials / Services Description |
Activity |
|
Agricultural
chemicals |
Manufacturing,
Exporting |
|
Coal
Dust |
Manufacturing,
Exporting |
|
Fertilizers |
Manufacturing,
Exporting |
|
Lime |
Manufacturing,
Exporting |
|
Minerals |
Manufacturing,
Exporting |
Financials
|
Financial
Year |
2017-12 |
2016-12 |
2015-12 |
|
Number
of Weeks |
52 |
52 |
52 |
|
Currency |
VND |
VND |
VND |
|
Consolidated
Accounts |
No |
No |
No |
|
Profit and Loss Revenue |
3.494.784.316.256 |
4.495.269.552.785 |
3.501.115.083.094 |
|
Operating
Costs |
3.316.797.902.749 |
4.300.198.680.212 |
3.304.556.542.098 |
|
Operating
Profit |
177.986.413.507 |
195.070.872.573 |
196.558.540.996 |
|
Wages
& Salaries |
- |
- |
- |
|
Pension
Costs |
- |
- |
- |
|
Depreciation |
- |
- |
- |
|
Amortisation |
- |
- |
- |
|
Financial
Income |
13.247.628.481 |
46.055.109.985 |
9.320.233.600 |
|
Financial
Expenses |
121.637.750.556 |
160.823.420.864 |
45.770.656.567 |
|
Extraordinary
Income |
2.091.393.540 |
2.472.411.957 |
7.774.137.985 |
|
Extraordinary
Costs |
43.001.227.739 |
64.880.055.234 |
65.273.111.639 |
|
Profit
before Tax |
28.686.457.233 |
17.894.918.417 |
102.609.144.375 |
|
Tax |
6.147.857.105 |
4.334.019.060 |
22.991.346.219 |
|
Profit
after Tax |
22.538.600.128 |
13.560.899.357 |
79.617.798.156 |
|
Dividends |
- |
- |
- |
|
Minority
Interests |
- |
1.734.592.188 |
-233.226.748 |
|
Other
Appropriations |
- |
- |
- |
|
Retained
Profit |
22.538.600.128 |
11.826.307.169 |
79.851.024.904 |
|
|
|
|
|
|
Balance Sheet |
|
|
|
|
Land
& Buildings |
0 |
0 |
0 |
|
Plant
& Machinery |
0 |
0 |
0 |
|
Other
Tangible Assets |
237.790.233.517 |
132.029.570.190 |
86.995.288.308 |
|
Total
Tangible Assets |
237.790.233.517 |
132.029.570.190 |
86.995.288.308 |
|
Goodwill |
0 |
0 |
0 |
|
Other
Intangible Assets |
89.347.927.909 |
83.896.163.530 |
83.896.163.530 |
|
Total
Intangible Assets |
89.347.927.909 |
83.896.163.530 |
83.896.163.530 |
|
Investments |
274.567.309.150 |
200.547.912.600 |
237.886.389.400 |
|
Loans to
Group |
0 |
0 |
0 |
|
Other
Loans |
0 |
0 |
0 |
|
Miscellaneous
Fixed Assets |
334.173.911.938 |
512.741.429.665 |
336.506.866.161 |
|
Total
Other Fixed Assets |
608.741.221.088 |
713.289.342.265 |
574.393.255.561 |
|
Total
Fixed Assets |
935.879.382.514 |
929.215.075.985 |
745.284.707.399 |
|
Raw
Materials |
0 |
0 |
0 |
|
Work in
Progress |
0 |
0 |
0 |
|
Finished
Goods |
0 |
0 |
0 |
|
Other
Inventories |
1.441.865.576 |
126.865.583.767 |
258.382.646.209 |
|
Total
Inventories |
1.441.865.576 |
126.865.583.767 |
258.382.646.209 |
|
Trade
Receivables |
856.622.505.313 |
877.792.117.301 |
1.082.580.582.355 |
|
Group
Receivables |
0 |
0 |
0 |
|
Receivables
Due after 1 year |
0 |
0 |
0 |
|
Miscellaneous
Receivables |
0 |
0 |
0 |
|
Total
Receivables |
856.622.505.313 |
877.792.117.301 |
1.082.580.582.355 |
|
Cash |
64.283.124.830 |
254.451.111.627 |
350.118.724.337 |
|
Other
Current Assets |
171.848.193.315 |
46.239.894.955 |
28.820.025.295 |
|
Total
Current Assets |
1.094.195.689.034 |
1.305.348.707.650 |
1.719.901.978.196 |
|
Total
Assets |
2.030.075.071.548 |
2.234.563.783.635 |
2.465.186.685.595 |
|
Trade
Payables |
99.969.006.633 |
233.053.534.423 |
201.215.685.257 |
|
Bank
Liabilities |
0 |
0 |
0 |
|
Other Loans
or Finance |
670.734.184.793 |
854.806.253.986 |
1.037.885.749.316 |
|
Group
Payables |
0 |
0 |
0 |
|
Miscellaneous
Liabilities |
126.590.403.105 |
16.534.085.826 |
360.633.939.072 |
|
Total
Current Liabilities |
897.293.594.531 |
1.104.393.874.235 |
1.599.735.373.645 |
|
Trade
Payables After 1 Year |
0 |
0 |
0 |
|
Bank
Liabilities After 1 Year |
0 |
0 |
0 |
|
Other
Loans or Finance due after 1 year |
323.674.640.000 |
302.037.735.085 |
88.123.720.000 |
|
Group
Payables After 1 Year |
0 |
0 |
0 |
|
Miscellaneous
Liabilities Due After 1 Year |
0 |
47.500.000 |
214.477.350 |
|
Total
Long Term Liabilities |
323.674.640.000 |
302.085.235.085 |
88.338.197.350 |
|
Total
Liabilities |
1.220.968.234.531 |
1.406.479.109.320 |
1.688.073.570.995 |
|
Called
Up Share Capital |
693.299.280.000 |
693.299.280.000 |
639.999.280.000 |
|
Share
Premium |
-3.249.100.000 |
-3.001.100.000 |
-5.591.100.000 |
|
Revenue
Reserves |
109.294.735.617 |
80.151.676.197 |
113.720.565.282 |
|
Other
Reserves |
9.761.921.400 |
57.634.818.118 |
28.984.369.318 |
|
Total
Shareholders Equity |
809.106.837.017 |
828.084.674.315 |
750.057.488.420 |
|
Other Financials Contingent
Liabilities |
|
|
|
|
Working
Capital |
196.902.094.503 |
200.954.833.415 |
120.166.604.551 |
|
Net
Worth |
719.758.909.108 |
744.188.510.785 |
666.161.324.890 |
|
|
|
|
|
|
Ratios |
|
|
|
|
Pre Tax
Profit Margin |
0.82 |
0.4 |
2.93 |
|
Return
On Capital Employed |
2.53 |
1.58 |
12.24 |
|
Return
On Total Assets Employed |
1.41 |
0.8 |
4.16 |
|
Return
On Net Assets Employed |
3.55 |
2.16 |
13.68 |
|
Sales /
Net Working Capital |
17.75 |
22.37 |
29.14 |
|
Stock
Turnover Ratio |
0.04 |
2.82 |
7.38 |
|
Debtor
Days |
89.47 |
71.27 |
112.86 |
|
Creditor
Days |
10.44 |
18.92 |
20.98 |
|
Current
Ratio |
1.22 |
1.18 |
1.08 |
|
Liquidity
Ratio Or Acid Test |
1.22 |
1.07 |
0.91 |
|
Current
Debt Ratio |
1.11 |
1.33 |
2.13 |
|
Equity
In Percentage |
41.69 |
38.5 |
31.5 |
|
Total
Debt Ratio |
1.51 |
1.7 |
2.25 |
|
Additional Financials |
|
|
|
Current Directors
|
Name |
Gender |
Address |
Date of
Birth |
Position |
|
Huong
Thanh Thi Nguyen |
Female |
|
1977-02-12 |
Chairman Managing
Director Director |
|
Ngoc Thi
Bui |
Female |
|
1979-04-10 |
Chief
Accountant |
|
Tuan
Manh Nguyen |
Male |
|
1984-12-28 |
Deputy
Managing Director |
Previous Directors
No
previous directors for this company.
Share Capital Structure
|
Nominal
Share Capital |
693.299.280.000 |
|
Issued
Share Capital |
693.299.280.000 |
Shareholders
|
Shareholder |
Address |
% Shares
Held |
|
Public shareholding
traded via Stock Exchange |
|
68.68 |
|
Ms.
Huong Thanh Thi Nguyen |
Vietnam |
13.27 |
|
Mr. Binh
Thanh Nguyen |
Vietnam |
7.21 |
|
Mr. Anh
Van Nguyen |
Vietnam |
4.75 |
|
IB
SECURITIES JSC |
Vietnam |
3.21 |
|
Mr.
Khoai Van Nguyen |
Vietnam |
2.88 |
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 67.45 |
|
|
1 |
INR 89.79 |
|
Euro |
1 |
INR 78.79 |
|
VND |
1 |
INR 0.0029 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
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.