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MIRA INFORM REPORT
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Report No. : |
496761 |
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Report Date : |
19.03.2018 |
IDENTIFICATION DETAILS
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Name : |
GIA ANH HUNG YEN CO LTD |
|
|
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Registered Office : |
Km7 National Rd 39 Trung Hung Commune, Yen My
Dist, Hung Yen |
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Country : |
Vietnam |
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Financials (as on) : |
December 2016 |
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Date of Incorporation : |
27.12.2005 |
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Com. Reg. No.: |
0900243245 |
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Legal Form : |
Private Company with Limited Liability |
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|
|
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Line of Business : |
Manufacture of Basic Iron and Steel and of Ferro-Alloys |
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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 |
|
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 (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 |
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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
Summary
|
|
|
Business Name |
GIA ANH HUNG YEN CO LTD |
|
Country |
VIET NAM |
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Company Registration Number |
0900243245 |
|
Main Activity Code |
2410 |
|
Main Activity Description |
Manufacture of basic iron and steel and of
ferro-alloys |
|
Company Status |
Normal (Active) |
|
Latest Turnover Figure |
- |
|
Latest Shareholder Equity Figure |
226.207.000.000 |
Basic
Information
|
|
|
Business Name |
GIA ANH HUNG YEN CO LTD |
|
Registered Company Name |
GIA ANH HUNG YEN CO LTD |
|
Company Registration Number |
0900243245 |
|
Country |
VIET NAM |
|
VAT Registration Number |
0900243245 |
|
VAT Registration Date |
2005-12-27 |
|
Date of Company Registration |
2012-04-23 |
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Date of Starting Operations |
2012-04-23 |
|
Commercial Court |
|
|
Legal Form |
Private Company with Limited Liability |
|
Type of Ownership |
Registered ownership by Subject Business Entity |
|
Company Status |
Normal (Active) |
|
Principal Activity Code |
|
|
Principal Activity Description |
|
|
Contact Telephone Number |
[+84] 221-3960899 |
Main
Address
|
||
|
Address |
Country |
Telephone |
|
Km7 National Rd 39 Trung Hung Commune, Yen My
Dist, Hung Yen |
VIET NAM |
[+84] 221-3960899 |
Other
Address
|
|
No other addresses for this company. |
Previous
Address
|
|
No previous addresses for this company. |
Activities
|
|
Activity Code Activity Description |
|
2410 Manufacture of basic
iron and steel and of ferro-alloys |
Email
Addresses
|
|
No email for this company. |
Web
Pages
|
Employee
Information
|
|
Date Reported Number of Employees |
|
2018 200 |
Banker
Information
|
||
|
Banker Name |
Banker Address |
Phone Number |
|
JOINT STOCK COMMERCIAL BANK FOR INVESTMENT &
DEVELOPMENT OF VIETNAM |
Bac Hung Yen |
BIDVVNVX |
Advisors
Information
|
|
No advisor information for this company. |
Miscellaneous
Information
|
|
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Fax Number |
[+84] 221-3960900 |
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Export Countries |
|
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Import Countries |
Asia / Pacific, China, India |
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Additional Business Information |
Core Business:
The primary business focus of
GIA ANH HUNG YEN CO LTD is Manufacturing - Finished products. Key product include:
Stainless steel products. An integral part of the core business includes: Distribution. Supplementary Business: In
addition to the core business, GIA ANH HUNG YEN CO LTD also is engaged in the following areas of business: 1.
Importing: Importing - Raw materials. |
|
Additional Rating Information |
Good Credit Quality: Credit can proceed on a
favorable basis but in strict adherence to financig terms. Revision of Credit
Limit: Annual. Risk Index: Low. |
|
Additional Payment Information |
Selling: Local: Cash
on delivery (COD),
Credit - Unsecured 30~60 days. 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
2016-12-01, 2015-12-01 and 2014-12-01. Based on the corporate laws of
Vietnam, legal entities which are a Private Company with Limited Liability
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
|
|
|
Issuing Authority |
Dept. Of Planning & Investment - Hung Yen |
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Note |
(1) Legal status
of the English
corporate name: 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. 2) 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. |
|
Previous Business License/S |
License Date: 27 Oct, 2003, License No.:
0504000053 |
|
Primary Products (Products / Materials Stainless steel products: Manufacturing / Services Description: Activity) |
|
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Domestic Sales & Purchases |
Annual Sales Analysis: Domestic Sales: 100%.
Annual Purchases Analysis: Local Purchases: 70%, Imports: 30%. |
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Capital (Date: Authorized Capital - History) |
2012: 97,000,000,000; 2015: 157,000,000,000;
2016: 207,000,000,000; 15 Dec, 2017: 257,000,000,000. |
|
Reputation |
Reference checking for the purpose
of establishing GIA ANH HUNG YEN CO LTD'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 |
1. Bank Name: SAI
GON THUONG TIN COMMERCIAL
JOINT STOCK BANK, Global Identifier:
P0388625, Branch: SAI GON THUONG
TIN COMMERCIAL
JOINT STOCK BANK - HANOI, Branch Address: Hanoi,
SWIFT Code: SGTTVNVX. 2. Bank
Name: VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY
& TRADE, Global Identifier: 32404058, Branch: VIETNAM JOINT STOCK
COMMERCIAL BANK FOR INDUSTRY AND TRADE, QUANG TRUNG,
Branch Address: Quang Trung, SWIFT Code: ICBVVNVX. |
|
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 |
899.681.000.000 |
753.731.000.000 |
650.477.000.000 |
|
Operating Costs |
856.342.000.000 |
705.985.000.000 |
613.535.000.000 |
|
Operating Profit |
43.339.000.000 |
47.746.000.000 |
36.942.000.000 |
|
Wages & Salaries |
- |
- |
- |
|
Pension Costs |
- |
- |
- |
|
Depreciation |
- |
- |
- |
|
Amortisation |
- |
- |
- |
|
Financial Income |
1.119.000.000 |
385.000.000 |
25.000.000 |
|
Financial Expenses |
18.239.000.000 |
21.344.000.000 |
17.742.000.000 |
|
Extraordinary Income |
- |
30.000.000 |
- |
|
Extraordinary Costs |
2.661.000.000 |
5.804.000.000 |
4.566.000.000 |
|
Profit before Tax |
23.558.000.000 |
21.013.000.000 |
14.659.000.000 |
|
Tax |
5.183.000.000 |
4.623.000.000 |
3.225.000.000 |
|
Profit after Tax |
18.375.000.000 |
16.390.000.000 |
11.434.000.000 |
|
Dividends |
- |
- |
- |
|
Minority Interests |
- |
- |
- |
|
Other Appropriations |
- |
- |
- |
|
Retained Profit |
18.375.000.000 |
16.390.000.000 |
11.434.000.000 |
Balance
Sheet
|
|||
|
Land & Buildings |
0 |
0 |
0 |
|
Plant & Machinery |
0 |
0 |
0 |
|
Other Tangible Assets |
93.457.000.000 |
88.610.000.000 |
60.075.000.000 |
|
Total Tangible Assets |
93.457.000.000 |
88.610.000.000 |
60.075.000.000 |
|
Goodwill |
0 |
0 |
0 |
|
Other Intangible Assets |
14.606.000.000 |
0 |
9.191.000.000 |
|
Total Intangible Assets |
14.606.000.000 |
0 |
9.191.000.000 |
|
Investments |
0 |
0 |
0 |
|
Loans to Group |
0 |
0 |
0 |
|
Other Loans |
0 |
0 |
0 |
|
Miscellaneous Fixed Assets |
0 |
0 |
0 |
|
Total Other Fixed Assets |
0 |
0 |
0 |
|
Total Fixed Assets |
108.276.000.000 |
88.610.000.000 |
69.266.000.000 |
|
Raw Materials |
0 |
0 |
0 |
|
Work in Progress |
0 |
0 |
0 |
|
Finished Goods |
0 |
0 |
0 |
|
Other Inventories |
0 |
0 |
0 |
|
Total Inventories |
211.213.000.000 |
206.135.000.000 |
179.028.000.000 |
|
Trade Receivables |
120.313.000.000 |
85.224.000.000 |
87.722.000.000 |
|
Group Receivables |
0 |
0 |
0 |
|
Receivables Due after 1 year |
0 |
0 |
0 |
|
Miscellaneous Receivables |
0 |
0 |
0 |
|
Total Receivables |
120.313.000.000 |
85.224.000.000 |
87.722.000.000 |
|
Cash |
7.042.000.000 |
11.398.000.000 |
15.372.000.000 |
|
Other Current Assets |
213.000.000 |
0 |
0 |
|
Total Current Assets |
394.012.000.000 |
310.338.000.000 |
287.823.000.000 |
|
Total Assets |
502.288.000.000 |
398.948.000.000 |
357.089.000.000 |
|
Trade Payables |
182.193.000.000 |
94.932.000.000 |
119.175.000.000 |
|
Bank Liabilities |
0 |
0 |
0 |
|
Other Loans or Finance |
80.476.000.000 |
111.866.000.000 |
74.254.000.000 |
|
Group Payables |
0 |
0 |
0 |
|
Miscellaneous Liabilities |
3.477.000.000 |
5.415.000.000 |
8.606.000.000 |
|
Total Current Liabilities |
266.146.000.000 |
212.213.000.000 |
202.035.000.000 |
|
Trade Payables After 1 Year |
0 |
0 |
0 |
|
Bank Liabilities After 1 Year |
0 |
0 |
0 |
|
Other Loans or Finance due after 1 year |
9.935.000.000 |
11.903.000.000 |
4.852.000.000 |
|
Group Payables After 1 Year |
0 |
0 |
0 |
|
Miscellaneous Liabilities Due After 1 Year |
0 |
0 |
0 |
|
Total Long Term Liabilities |
9.935.000.000 |
11.903.000.000 |
4.852.000.000 |
|
Total Liabilities |
276.081.000.000 |
224.116.000.000 |
206.887.000.000 |
|
Called Up Share Capital |
207.000.000.000 |
157.000.000.000 |
97.000.000.000 |
|
Share Premium |
0 |
0 |
0 |
|
Revenue Reserves |
19.207.000.000 |
17.832.000.000 |
53.202.000.000 |
|
Other Reserves |
0 |
0 |
0 |
|
Total Shareholders Equity |
226.207.000.000 |
174.832.000.000 |
150.202.000.000 |
Other
Financials
|
|||
|
Contingent Liabilities |
|||
|
Working Capital |
127.866.000.000 |
98.125.000.000 |
85.788.000.000 |
|
Net Worth |
211.601.000.000 |
0 |
141.011.000.000 |
Ratios
|
|||
|
Pre Tax Profit Margin |
2.62 |
2.79 |
2.25 |
|
Return On Capital Employed |
9.98 |
11.25 |
9.45 |
|
Return On Total Assets Employed |
4.69 |
5.27 |
4.11 |
|
Return On Net Assets Employed |
10.41 |
12.02 |
9.76 |
|
Sales / Net Working Capital |
7.04 |
7.68 |
7.58 |
|
Stock Turnover Ratio |
23.48 |
27.35 |
27.52 |
|
Debtor Days |
48.81 |
41.27 |
49.22 |
|
Creditor Days |
73.92 |
45.97 |
66.87 |
|
Current Ratio |
1.48 |
1.46 |
1.42 |
|
Liquidity Ratio Or Acid Test |
0.69 |
0.49 |
0.54 |
|
Current Debt Ratio |
1.18 |
1.21 |
1.35 |
|
Gearing |
|||
|
Equity In Percentage |
46.38 |
|
43.17 |
|
Total Debt Ratio |
1.22 |
1.28 |
1.38 |
Additional
Financials
|
|
Gross Profit |
Current
Directors
|
|||
|
Name |
Gender |
Date of Birth |
Position |
|
Luong Trung Pham |
Male |
1977-07-20 |
Managing Director Director |
|
Ly Hai Thi Nguyen |
Female |
|
Chief Accountant |
Previous
Directors
|
|
No previous directors for this company. |
Share
Capital Structure
|
|
Nominal Share Capital 257.000.000.000 |
|
Issued Share Capital 257.000.000.000 |
Shareholders
|
||
|
Shareholder |
Address |
% Shares Held |
|
GIA ANH JOINT STOCK CO |
Vietnam |
100 |
Ultimate
Holding Parent
|
|
No Ultimate Holding Parent for this company. |
Immediate
Holding Parent
|
||
|
Name |
Status |
Address |
|
GIA ANH JOINT STOCK CO |
Active |
40 Rd 339 Pho Hue Ward Hai Ba Trung Dist Hanoi |
Subsidaries
|
|
No subsidaries for this company. |
Affiliates
|
|
No affiliates for this company. |
Negative
Information
|
|
No negative information for this company |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.87 |
|
|
1 |
INR 90.49 |
|
Euro |
1 |
INR 79.91 |
|
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.