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MIRA INFORM REPORT
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Report No. : |
495377 |
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Report Date : |
08.03.2018 |
IDENTIFICATION DETAILS
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Name : |
THANH SON MINING MINERAL JSC |
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Registered Office : |
Group 15 Yen The Town, Luc Yen Dist, Yen Bai |
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Country : |
Vietnam |
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Financials (as on) : |
December, 2016 |
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Date of Incorporation : |
06.07.2012 |
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Com. Reg. No.: |
5200771418 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Subject is engaged in Manufacture of other
articles of concrete, plaster and cement.
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No. of Employees : |
170 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
Vietnam |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
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 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
Summary
|
Business
Name |
THANH
SON MINING MINERAL JSC |
|
Country |
VIET
NAM |
|
Company
Registration Number |
5200771418 |
|
Main
Activity Code |
2369 |
|
Main
Activity Description |
Manufacture
of other articles of concrete, plaster and cement |
|
Company
Status |
Normal
(Active) |
|
Latest
Turnover Figure |
- |
|
Latest
Shareholder Equity Figure |
11.205.000.000 |
Basic
Information
|
Business
Name |
THANH
SON MINING MINERAL JSC |
|
Registered
Company Name |
THANH
SON MINING MINERAL JSC |
|
Company
Registration Number |
5200771418 |
|
Country |
VIET
NAM |
|
VAT
Registration Number |
5200771418 |
|
VAT
Registration Date |
2012-07-16 |
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Date
of Company Registration |
2012-07-16 |
|
Date
of Starting Operations |
2012-07-16 |
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Commercial
Court |
|
|
Legal
Form |
Joint
Stock Company |
|
Type
of Ownership |
|
|
Company
Status |
Normal
(Active) |
|
Principal
Activity Code |
|
|
Principal
Activity Description |
|
|
Contact
Telephone Number |
[+84]
216-3848111 |
Main
Address
|
Address |
Country |
Telephone |
|
Group
15 Yen The Town, Luc Yen Dist, Yen Bai |
VIET
NAM |
[+84]
216-3848111 |
Other
Address
|
Address Country Telephone |
|
No
other addresses for this company. |
Previous
Address
|
Address Country |
|
No
previous addresses for this company. |
Activities
|
Activity Code Activity Description |
|
2369 Manufacture of other articles of
concrete, plaster and cement |
Email
Addresses
|
No
email for this company. |
Web
Pages
Employee
Information
|
Date Reported Number of Employees |
|
2018 170 |
Banker
Information
|
Banker Name Banker
Address Phone Number |
|
VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY & TRADE ICBVV |
Advisors
Information
|
Auditor Name Solicitor Name |
|
No
advisor information for this company. |
Miscellaneous
Information
|
Fax
Number |
N/A |
|
Export
Countries |
Asia
/ Pacific, Hong Kong, India |
|
Import
Countries |
Asia
/ Pacific, India |
|
Additional
Business Information |
Core Business: The primary business
focus of THANH SON MINING MINERAL JSC is Mining. Key products include: Sand, Stone,
Stone tiles, Stone,
slabs, White marble
blocks, White marble
slabs, White marble
tiles. Supplementary Business: In addition to the core business, THANH SON MINING
MINERAL JSC also is engaged in the following areas of
business: Exporting - Semi-processed materials, Importing - Raw materials. |
|
Additional
Financial Information |
Financial
Statements were prepared as at 2016.12.31, 2015.12.31 and 2014.12.31. 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 |
170 |
|
Number
of Employees at Group |
|
|
Number
of Employees at Factory |
|
Additional
Miscellaneous Information
|
Primary
Business Activity |
Manufacturer |
|
Key
Industry |
Minerals
/ Mining |
|
Issuing
Authority |
DEPT.
OF PLANNING & INVESTMENT - Yen Bai |
|
Note |
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. |
|
Tax
Issuing Authority |
MINISTRY
OF FINANCE |
|
Primary
Products (Products / Materials / Services
Description: Activity) |
Sand:
Manufacturing, Stone, Stone tiles, Stone, slabs, White marble blocks:
Manufacturing, Exporting |
|
Domestic
Sales & Purchases |
Annual
Sales Analysis: Percentage Domestic Sales: 80% International Sales (Export):
20% Annual Purchases Analysis: Percentage Local Purchases: 95% Imports: 5% |
|
Reputation |
Reference checking for the purpose of
establishing THANH SON MINING MINERAL 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 |
|
Local
Branches & Management |
Branch: THANH SON MINING MINERAL JSC - NGHI LOC DIST, NGHE AN Branch Address:
Area C Nam Cam
Industrial Zone - Dong Nam Economic Zone Nghi Xa Commune,
Nghi Loc Dist, Nghe An |
|
Office
& Facilities |
The following information relates to the Business Entity's office as listed above:
Name: THANH SON MINING MINERAL
JSC - LUC YEN DIST, YEN BAI Primary Use:
Office & Administration facilities Address: Group
15 Yen The Town, Luc Yen
Dist, Yen Bai
Country: Vietnam Status: Operational |
|
Company
History |
Date:
Details 2016 - Mar: Changed its legal form into joint stock company from
liability limited company. |
Financials
|
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 |
127.184.000.000 |
67.256.000.000 |
49.475.000.000 |
|
Operating
Costs |
89.079.000.000 |
51.116.000.000 |
35.454.000.000 |
|
Operating
Profit |
38.105.000.000 |
16.140.000.000 |
14.021.000.000 |
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Wages
& Salaries |
- |
- |
- |
|
Pension
Costs |
- |
- |
- |
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Depreciation |
- |
- |
- |
|
Amortisation |
- |
- |
- |
|
Financial
Income |
1.168.000.000 |
188.000.000 |
43.000.000 |
|
Financial
Expenses |
746.000.000 |
600.000.000 |
- |
|
Extraordinary
Income |
- |
911.000.000 |
394.000.000 |
|
Extraordinary
Costs |
16.335.000.000 |
7.919.000.000 |
5.442.000.000 |
|
Profit
before Tax |
22.192.000.000 |
8.720.000.000 |
9.016.000.000 |
|
Tax |
3.359.000.000 |
- |
- |
|
Profit
after Tax |
18.833.000.000 |
8.720.000.000 |
9.016.000.000 |
|
Dividends |
- |
- |
- |
|
Minority
Interests |
- |
- |
- |
|
Other
Appropriations |
- |
- |
- |
|
Retained
Profit |
- |
- |
- |
Balance
Sheet
|
Land
& Buildings |
0 |
0 |
0 |
|
Plant
& Machinery |
0 |
0 |
0 |
|
Other
Tangible Assets |
59.650.000.000 |
53.554.000.000 |
26.109.000.000 |
|
Total
Tangible Assets |
59.650.000.000 |
53.554.000.000 |
26.109.000.000 |
|
Goodwill |
0 |
0 |
0 |
|
Other
Intangible Assets |
0 |
0 |
0 |
|
Total
Intangible Assets |
0 |
0 |
0 |
|
Investments |
3.266.000.000 |
3.266.000.000 |
1.061.000.000 |
|
Loans
to Group |
0 |
0 |
0 |
|
Other
Loans |
0 |
0 |
0 |
|
Miscellaneous
Fixed Assets |
2.122.000.000 |
1.855.000.000 |
2.095.000.000 |
|
Total
Other Fixed Assets |
5.388.000.000 |
5.121.000.000 |
3.156.000.000 |
|
Total
Fixed Assets |
65.038.000.000 |
58.675.000.000 |
29.265.000.000 |
|
Raw
Materials |
0 |
0 |
0 |
|
Work
in Progress |
0 |
0 |
0 |
|
Finished
Goods |
0 |
0 |
0 |
|
Other
Inventories |
0 |
0 |
0 |
|
Total
Inventories |
30.036.000.000 |
13.614.000.000 |
4.346.000.000 |
|
Trade
Receivables |
54.425.000.000 |
9.976.000.000 |
16.988.000.000 |
|
Group
Receivables |
0 |
0 |
0 |
|
Receivables
Due after 1 year |
0 |
0 |
0 |
|
Miscellaneous
Receivables |
0 |
0 |
0 |
|
Total
Receivables |
54.425.000.000 |
9.976.000.000 |
16.988.000.000 |
|
Cash |
2.866.000.000 |
6.325.000.000 |
6.327.000.000 |
|
Other
Current Assets |
6.843.000.000 |
2.254.000.000 |
2.133.000.000 |
|
Total
Current Assets |
94.170.000.000 |
32.169.000.000 |
29.794.000.000 |
|
Total
Assets |
159.208.000.000 |
90.844.000.000 |
59.059.000.000 |
|
Trade
Payables |
12.867.000.000 |
0 |
8.535.000.000 |
|
Bank
Liabilities |
6.007.000.000 |
-63.000.000 |
1.438.000.000 |
|
Other
Loans or Finance |
3.082.000.000 |
0 |
0 |
|
Group
Payables |
0 |
0 |
0 |
|
Miscellaneous
Liabilities |
126.047.000.000 |
861.000.000 |
552.000.000 |
|
Total
Current Liabilities |
148.003.000.000 |
798.000.000 |
10.525.000.000 |
|
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 |
0 |
|
Group
Payables After 1 Year |
0 |
0 |
0 |
|
Miscellaneous
Liabilities Due After 1 Year |
0 |
62.752.000.000 |
28.458.000.000 |
|
Total
Long Term Liabilities |
0 |
62.752.000.000 |
28.458.000.000 |
|
Total
Liabilities |
148.003.000.000 |
63.550.000.000 |
38.983.000.000 |
|
Called
Up Share Capital |
4.000.000.000 |
10.000.000.000 |
10.000.000.000 |
|
Share
Premium |
0 |
0 |
0 |
|
Revenue
Reserves |
7.205.000.000 |
17.294.000.000 |
10.076.000.000 |
|
Other
Reserves |
0 |
0 |
0 |
|
Total
Shareholders Equity |
11.205.000.000 |
27.294.000.000 |
20.076.000.000 |
Other
Financials
|
Contingent
Liabilities |
|||
|
Working
Capital |
-53.833.000.000 |
31.371.000.000 |
19.269.000.000 |
|
Net
Worth |
0 |
0 |
0 |
|
Ratios |
|||
|
Pre
Tax Profit Margin |
17.45 |
12.97 |
18.22 |
|
Return
On Capital Employed |
|
9.68 |
18.58 |
|
Return
On Total Assets Employed |
13.94 |
9.6 |
15.27 |
|
Return
On Net Assets Employed |
198.05 |
31.95 |
44.91 |
|
Sales
/ Net Working Capital |
-2.36 |
2.14 |
2.57 |
|
Stock
Turnover Ratio |
23.62 |
20.24 |
8.78 |
|
Debtor
Days |
156.19 |
54.14 |
125.33 |
|
Creditor
Days |
36.93 |
|
62.97 |
|
Current
Ratio |
0.64 |
40.31 |
2.83 |
|
Liquidity
Ratio Or Acid Test |
0.43 |
23.25 |
2.42 |
|
Current
Debt Ratio |
13.21 |
0.03 |
0.52 |
|
Gearing |
|
229.68 |
148.91 |
|
Equity
In Percentage |
|||
|
Total
Debt Ratio |
13.21 |
2.33 |
1.94 |
Additional
Financials
|
Gross
Profit |
Current
Directors
|
Name |
Gender |
Address |
Date
of Birth |
Position |
|
Pradeep
Modi |
Male |
9 -
A Polo Ground, Udaipur, Rajasthan 313001 |
1963-07-30 |
Chairman |
|
Hang |
Female |
|
|
Representative |
|
Vai
Karamu Ram |
Male |
Indian |
1974-01-01 |
Managing
Director |
Previous
Directors
|
Name |
Gender |
Address |
Date
of Birth |
Position |
Resignation
Date |
|
No
previous directors for this company. |
|||||
Share
Capital Structure
|
Nominal Share Capital 4.000.000.000 |
|
Issued Share Capital 4.000.000.000 |
Shareholders
|
Shareholder |
Address |
%
Shares Held |
|
MR. MANTRI RATAL TILOKCHAND AND MR. MANTRI ANKIT
RATAN LAL (INDIAN) |
India |
47.5 |
|
Mr.
Pradeep Modi |
India |
47.5 |
|
Mr.
Thanh Dai Nguyen |
Vietnam |
5 |
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 64.96 |
|
|
1 |
INR 90.33 |
|
Euro |
1 |
INR 80.74 |
|
VND |
1 |
INR 0.0029 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
DNS |
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.