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MIRA INFORM REPORT
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Report No. : |
516603 |
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Report Date : |
22.06.2018 |
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, 2016 |
|
|
|
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Date of Incorporation : |
30.10.2014 |
|
|
|
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Com. Reg. No.: |
3800383036 |
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|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Subject is engaged in Manufacture of veneer sheets
and wood-based panels. |
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|
|
|
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 |
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|
|
|
Payment Behaviour : |
No Complaints |
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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 (31.12.2017) |
Current Rating (01.04.2018) |
|
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. Vietnam exceeded its 2017 GDP growth target of 6.7% with growth of 6.8%, primarily due to unexpected increases in 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 (which the EU has not yet ratified), 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 signed the Comprehensive and Progressive Agreement for the Transpacific Partnership in 2018 and continued to pursue 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 despite the recent speed-up in economic growth the government remains cautious about the risk of external shocks.
|
Source
: CIA |
Company
Name and Summary
|
|
|
Business
Name |
KIMTINMDF |
|
Country |
VIET
NAM |
|
Company
Registration Number |
3800383036 |
|
Main
Activity Code |
1621 |
|
Main
Activity Description |
Manufacture
of veneer sheets and wood-based panels |
|
Company
Status |
Normal
(Active) |
|
Latest
Turnover Figure |
- |
|
Latest
Shareholder Equity Figure |
218.316.000.000 |
Basic
Information
|
|
|
Business
Name |
KIMTINMDF |
|
Registered
Company Name |
KIM
TIN MDF JSC |
|
Company
Registration Number |
3800383036 |
|
Country |
VIET
NAM |
|
VAT
Registration Number |
-- |
|
VAT Registration
Date |
-- |
|
Date
of Company Registration |
2014-10-30 |
|
Date
of Starting Operations |
2014-10-30 |
|
Commercial
Court |
-- |
|
Legal
Form |
Joint
Stock Company |
|
Type
of Ownership |
-- |
|
Company
Status |
Normal
(Active) |
|
Principal
Activity Code |
-- |
|
Principal
Activity Description |
-- |
|
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
|
|
No
other addresses for this company. |
Previous
Address
|
|
No
previous addresses for this company. |
Activities
|
|
Activity Code Activity Description |
|
1621 Manufacture of veneer sheets and wood-based panels |
Email
Addresses
|
Web
Pages
|
Employee
Information
|
|
Date Reported Number
of Employees |
|
2018 200 |
Banker
Information
|
|
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: Plywoods, Veneers, MDF boards, Wood products, Wood sheets, 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: Exporting - Finished products, 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: Import Terms: 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
Statements were prepared as at 31.12.16, 31.12.15 and 31.12.14. 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 |
|
Number
of Employees at Group |
|
|
Number
of Employees at Factory |
|
Additional
Miscellaneous Information
|
|
|
Primary
Business Activity |
Manufacturer |
|
Key
Industry |
Plywood,
Timber & Wood Products |
|
Registered
Legal Address |
Ton
Duc Thang St Khu Phu Tan An Tan Phu Town, Dong Phu Dist, Binh Phuoc |
|
Name
History |
N/a |
|
Issuing
Authority |
DEPT.
OF PLANNING & INVESTMENT - Binh Phuoc |
|
Legal
Form - Category |
Joint
Stock Company |
|
Legal
Form – Abbreviation |
JSC |
|
Capital |
US$
12,334,637 |
|
Note |
In
Vietnam, when changes occur in the statutory records 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:
Tan Tien Commune, Dong Phu Dist, Binh Phuoc |
|
Tax
/ VAT Details |
Tax Issuing Authority: MINISTRY OF FINANCE Local Name Used: Gia
Trj Gia Tang (Value Added Tax) Acronym: GTGT / VAT GTGT / VAT Number:
3800383036 Date of Issuance: 20 Nov, 2007 |
|
Previous
Business License/s |
License
Date: 16 Oct, 2007 License No.: 4403000091 |
|
Domestic
Sales & Purchases |
Annual
Sales Analysis: Percentage Domestic Sales: 70% International Sales (Export):
30% Annual Purchases Analysis: Percentage Local Purchases: 50% Imports: 50% |
|
Company
Management |
Personal Unique Identifier: MI03913852 Name: Mr. Thuat Tien Pham Date of Birth:
1956 “The supplier could get only information on year, not month and
day at this time.” Nationality: Vietnamese |
|
Capital
(Date: Authorized Capital - History) |
16
Oct, 2007: 80,000,000,000 18 Dec, 2017: 240,000,000,000 29 Mar, 2018:
281,600,000,000 Date: Paid- up
Capital - History 16 Oct, 2007: 80,000,000,000 18 Dec, 2017: 240,000,000,000
29 Mar, 2018: 281,600,000,000 |
|
Reputation |
Due to the prevailing circumstances regarding the status of KIM TIN MDF JSC,
assessment of reputation is not relevant. |
|
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: ASIA COMMERCIAL BANK LEASING CO LTD Global
Identifier: P3311849 SWIFT Code: This bank does not have a SWIFT Code Bank Name: DONG A COMMERCIAL JOINT STOCK BANK Global Identifier:
P1007587 SWIFT Code: EACBVNVX |
|
Local
Branches & 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
& 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, & 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 & Alliances |
Group
/ Alliance name: KIM TIN GROUP |
|
Previous
Contact Details |
Telephone
Number: 84-651-3833142 Fax Number: 84-651-3833130 |
Primary
Products
|
|
|
Products
/ Materials / Services Description |
Activity |
|
MDF
boards |
Manufacturing,
Exporting |
|
Plywoods |
Manufacturing,
Exporting |
|
Veneers |
Manufacturing,
Exporting |
|
Wood
products |
Manufacturing,
Exporting |
|
Wood
sheets |
Manufacturing,
Exporting |
|
Financial
Year |
2016-12 |
2015-12 |
2014-12 |
|
Number
of Weeks |
52 |
52 |
52 |
|
Currency |
VND |
VND |
VND |
|
Consolidated
Accounts |
No |
No |
No |
Profit
and Loss
|
|||
|
Revenue |
363.054.000.000 |
314.180.000.000 |
285.797.000.000 |
|
Operating
Costs |
308.805.000.000 |
258.551.000.000 |
265.404.000.000 |
|
Operating
Profit |
54.249.000.000 |
55.629.000.000 |
20.393.000.000 |
|
Wages
& Salaries |
- |
- |
- |
|
Pension
Costs |
- |
- |
- |
|
Depreciation |
- |
- |
- |
|
Amortisation |
- |
- |
- |
|
Financial
Income |
204.000.000 |
- |
- |
|
Financial
Expenses |
2.608.000.000 |
- |
- |
|
Extraordinary
Income |
11.000.000 |
19.000.000 |
235.000.000 |
|
Extraordinary
Costs |
- |
5.000.000 |
1.102.000.000 |
|
Profit
before Tax |
51.856.000.000 |
55.643.000.000 |
19.526.000.000 |
|
Tax |
- |
- |
- |
|
Profit
after Tax |
48.260.000.000 |
51.413.000.000 |
18.096.000.000 |
|
Dividends |
- |
- |
- |
|
Minority
Interests |
- |
- |
- |
|
Other
Appropriations |
- |
- |
- |
|
Retained
Profit |
48.260.000.000 |
51.413.000.000 |
18.096.000.000 |
Balance
Sheet
|
|||
|
Land
& Buildings |
0 |
0 |
0 |
|
Plant
& Machinery |
0 |
0 |
0 |
|
Other
Tangible Assets |
74.403.000.000 |
0 |
0 |
|
Total
Tangible Assets |
74.403.000.000 |
0 |
0 |
|
Goodwill |
0 |
0 |
0 |
|
Other
Intangible Assets |
0 |
0 |
0 |
|
Total
Intangible Assets |
0 |
0 |
0 |
|
Investments |
15.000.000.000 |
0 |
0 |
|
Loans
to Group |
0 |
0 |
0 |
|
Other
Loans |
0 |
0 |
0 |
|
Miscellaneous
Fixed Assets |
3.045.000.000 |
0 |
0 |
|
Total
Other Fixed Assets |
18.045.000.000 |
0 |
0 |
|
Total
Fixed Assets |
92.449.000.000 |
68.085.000.000 |
85.385.000.000 |
|
Raw
Materials |
0 |
0 |
0 |
|
Work
in Progress |
0 |
0 |
0 |
|
Finished
Goods |
0 |
0 |
0 |
|
Other
Inventories |
0 |
0 |
0 |
|
Total
Inventories |
41.451.000.000 |
0 |
0 |
|
Trade
Receivables |
156.994.000.000 |
0 |
0 |
|
Group
Receivables |
0 |
0 |
0 |
|
Receivables
Due after 1 year |
0 |
0 |
0 |
|
Miscellaneous
Receivables |
0 |
0 |
0 |
|
Total
Receivables |
156.994.000.000 |
0 |
0 |
|
Cash |
2.703.000.000 |
2.799.000.000 |
996.000.000 |
|
Other
Current Assets |
2.542.000.000 |
0 |
0 |
|
Total
Current Assets |
203.690.000.000 |
134.319.000.000 |
86.989.000.000 |
|
Total
Assets |
296.139.000.000 |
202.404.000.000 |
172.374.000.000 |
|
Trade
Payables |
25.927.000.000 |
0 |
0 |
|
Bank
Liabilities |
0 |
0 |
0 |
|
Other
Loans or Finance |
31.564.000.000 |
16.620.000.000 |
34.425.000.000 |
|
Group
Payables |
0 |
0 |
0 |
|
Miscellaneous
Liabilities |
3.701.000.000 |
0 |
0 |
|
Total
Current Liabilities |
61.193.000.000 |
32.296.000.000 |
53.678.000.000 |
|
Trade
Payables After 1 Year |
0 |
0 |
0 |
|
Bank
Liabilities After 1 Year |
0 |
0 |
0 |
|
Other
Loans or Finance due after 1 year |
16.630.000.000 |
0 |
0 |
|
Group
Payables After 1 Year |
0 |
0 |
0 |
|
Miscellaneous
Liabilities Due After 1 Year |
0 |
0 |
0 |
|
Total
Long Term Liabilities |
16.630.000.000 |
0 |
0 |
|
Total
Liabilities |
77.823.000.000 |
32.296.000.000 |
53.678.000.000 |
|
Called
Up Share Capital |
80.000.000.000 |
0 |
0 |
|
Share
Premium |
0 |
0 |
0 |
|
Revenue
Reserves |
138.316.000.000 |
90.108.000.000 |
38.696.000.000 |
|
Other
Reserves |
0 |
0 |
0 |
|
Total
Shareholders Equity |
218.316.000.000 |
170.108.000.000 |
118.696.000.000 |
Other
Financials
|
|||
|
Contingent
Liabilities |
|||
|
Working
Capital |
142.497.000.000 |
102.023.000.000 |
33.311.000.000 |
|
Net
Worth |
0 |
0 |
0 |
Ratios
|
|||
|
Pre
Tax Profit Margin |
14.28 |
17.71 |
6.83 |
|
Return
On Capital Employed |
22.07 |
|
|
|
Return
On Total Assets Employed |
17.51 |
27.49 |
11.33 |
|
Return
On Net Assets Employed |
23.75 |
32.71 |
16.45 |
|
Sales
/ Net Working Capital |
2.55 |
3.08 |
8.58 |
|
Stock
Turnover Ratio |
11.42 |
|
|
|
Debtor
Days |
157.84 |
|
|
|
Creditor
Days |
26.07 |
|
|
|
Current
Ratio |
3.33 |
4.16 |
1.62 |
|
Liquidity
Ratio Or Acid Test |
2.65 |
|
|
|
Current
Debt Ratio |
0.28 |
0.19 |
0.45 |
|
Gearing |
|||
|
Equity
In Percentage |
|||
|
Total
Debt Ratio |
0.36 |
0.19 |
0.45 |
Additional
Financials
|
|
Gross
Profit |
Current
Directors
|
||||
|
Name |
Gender |
Address |
Position |
|
|
Thuat
Tien Pham |
Male |
89/1-Ward 07, District 3,
Ho Chi Minh |
Managing
Director |
|
Previous
Directors
|
|
No
previous directors for this company. |
Share
Capital Structure
|
|
Nominal Share
Capital 281.600.000.000 |
|
Issued Share Capital 281.600.000.000 |
Shareholders
|
||
|
Shareholder |
Address |
% Shares Held |
|
Ms.
Xuan Thi Trinh |
Vietnam |
34.77 |
|
Undisclosed
Shareholders |
|
27.81 |
|
Ms. Kim
Quy Thi Tran |
Vietnam |
22.46 |
|
Mr.
Thuat Tien Pham |
Vietnam |
12.79 |
|
Mr.
Giang Binh Nguyen |
Vietnam |
2.17 |
Ultimate
Holding Parent
|
|
No
Ultimate Holding Parent for this company. |
Immediate
Holding Parent
|
|
No Immediate
Holding Parent for this company. |
Subsidaries
|
|
No
subsidiaries for this company. |
Affiliates
|
||
|
Name |
Status |
Registration Address Number |
|
KIM
TIN CORP |
Active |
Tan Tao Industrial Zone Lot 10-12 Rd 9 Tan Tao Ward, Binh Tan Dist,
Ho Chi Minh |
|
KIM
TIN TRADING CO LTD |
Active |
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 68.20 |
|
|
1 |
INR 89.58 |
|
Euro |
1 |
INR 78.79 |
|
VND |
1 |
INR 0.0030 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
NIT |
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.