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MIRA INFORM REPORT
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Report No. : |
498581 |
|
Report Date : |
24.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
4 ORANGES CO LTD |
|
|
|
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Registered Office : |
Duc Hoa Industrial
Zone Lot C 02-1 Hamlet 5 Duc Hoa Dong Commune, Duc Hoa, Tan An, Long An |
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|
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Country : |
Vietnam |
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|
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|
Financials (as on) : |
December 2016 |
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Date of Incorporation : |
21.05.2003 |
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|
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Com. Reg. No.: |
1100589373 |
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|
|
Legal Form : |
Company Limited |
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|
|
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Line of Business : |
Manufacture of Other Chemical Products |
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|
|
|
No. of Employees : |
550 [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 : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
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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 |
|
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 |
4 ORANGES CO LTD |
|
Country |
VIET NAM |
|
Company Registration Number |
1100589373 |
|
Main Activity Code |
2059 |
|
Main Activity Description |
Manufacture of other chemical products n.e.c. |
|
Company Status |
Normal (Active) |
|
Latest Turnover Figure |
- |
|
Latest Shareholder Equity Figure |
1.299.952.000.000 |
Basic
Information
|
|
|
Business Name |
4 ORANGES CO LTD |
|
Registered Company Name |
4 ORANGES CO LTD |
|
Company Registration Number |
1100589373 |
|
Country |
VIET NAM |
|
VAT Registration Number |
1100589373 |
|
VAT Registration Date |
2003-05-21 |
|
Date of Company Registration |
2017-03-30 |
|
Date of Starting Operations |
2017-03-30 |
|
Commercial Court |
|
|
Legal Form |
Company Limited |
|
Type of Ownership |
Registered ownership by Subject Business Entity |
|
Company Status |
Normal (Active) |
|
Principal Activity Code |
|
|
Principal Activity Description |
|
|
Contact Telephone Number |
[+84] 272-3779601 [+84] 272-3779602,[+84]
272-38752960 |
Main
Address
|
||
|
Address |
Country |
Telephone |
|
Duc Hoa Industrial
Zone Lot C 02-1 Hamlet 5 Duc Hoa Dong Commune, Duc Hoa, Tan An, Long An |
VIET NAM |
[+84] 272-3779601 [+84] 272- 3779602,[+84] 272-38752960 |
Other
Address
|
|
No other addresses for this company. |
Previous
Address
|
|
No previous addresses for this company. |
Activities
|
|
Activity Code
Activity Description |
|
2059 Manufacture of other
chemical products n.e.c. |
Email
Addresses
|
Web
Pages
|
Employee
Information
|
|
Date Reported Number of Employees |
|
2018 550 |
Banker
Information
|
||
|
Banker Name |
Banker Address |
Phone Number |
|
HSBC BANK (VIETNAM) LTD |
Binh Duong |
HSBC |
Advisors
Information
|
|
No advisor information for this company. |
Miscellaneous
Information
|
|
|
Fax Number |
[+84] 272-3779619 |
|
Export Countries |
|
|
Import Countries |
Asia / Pacific, Europe, North America, Australia,
France, Malaysia, Thailand, USA. |
|
Additional Business Information |
Core Business: The primary business focus of 4
ORANGES CO LTD is Manufacturing - Finished products. Key products include:
Coating paint, Ink, Mastics, Paints, Varnish,An integral part of the core
business includes: Distribution, Supplementary Business: In addition to the
core business, 4 RANGES CO LTD
also is engaged in the following areas of
business: 1. Importing, Importing - Raw materials. |
|
Additional Rating Information |
High Credit Qulaity: Credit can proceed with favorable &
flexible financing terms.
Proposed Credit Limit:
USD $8,000,000; Revision of Credit Limit: Annual;
Risk Index: Low. |
|
Additional Payment Information |
Selling Type: Terms Local:
Cash on delivery (COD) Credit
- Unsecured 30~60 days Purchasing Type:
Terms Import: Letter of Credit (At-sight) Telegraphic Transfer (T/T)
- Executed at time of transaction Local:
Credit - Unsecured 30~60
days Cash on delivery (COD). |
|
Additional Financial Information |
Financial Statements were prepared as at 31.12.16,
31.12.15 and 31.12.14. Based on the corporate laws of Vietnam, legal entities which are a Private Company
with Limited Liability are not required to make public
disclosure of their annual financials. Although basic financials were
obtained for reference. |
|
Number of Employees at Address |
550 |
|
Number of Employees at Group |
|
|
Number of Employees at Factory |
|
Additional
Miscellaneous Information
|
|
|
Key Industry |
Chemicals |
|
Registered Legal Address |
Duc Hoa Industrial Zone Lot C 02-1 Hamlet 5 Duc
Hoa Dong Commune, Duc Hoa, Tan An, Long An |
|
Issuing Authority |
DEPT. OF PLANNING & INVESTMENT - Long An |
|
Legal Form - Category |
Private Company with Limited Liability |
|
Capital |
US$ 3,160,945 |
|
Legal Form – Abbreviation |
CO LTD |
|
Previous Business License |
License Date: License No; 22 Apr, 2003;
10/GP-KCN-LA, 22 May, 2008; 502023000067. |
|
Primary Products (Products / Materials / Services Description: Activity) |
Products / Materials / Services Description:
Coating paint; Ink; Mastics; Paints; Varnish:
Manufacturing. |
|
Domestic sales and purchases ( Annual Sales Analysis: Percentage) |
Domestic Sales: 100% (Annual Purchases Analysis:
Percentage); Local Purchases: 20%; Imports: 80%. |
|
Director Comments ( Name: Date of Birth) |
Mr. Smit Cheancharadpong: 1958; Ms. Phuong My
La: 1973; Ms. Chi Thi Anh Nguyen: 1972. |
|
Reputation |
Reference checking for the purpose of establishing
4 ORANGES 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 Comments |
Bank Name: VIETNAM JOINT
STOCK COMMERCIAL BANK FOR INDUSTRY & TRADE; Global Identifier: 32404058; Branch: VIETNAM JOINT STOCKCOMMERCIAL
BANK FOR INDUSTRY
AND TRADE, TAY SAI GON; Branch Address: Tay Sai Gon; SWIFT
Code: ICBVVNVX. |
|
Local Branches & Management |
Branch:4 ORANGES CO LTD - TIEN DU DIST, BAC NINH; Branch Address: Hoang Son Industrial
Zone, Tien Du Dist, Bac Ninh; Branch Tel:
84-241-3847084, Branch: 4 ORANGES CO LTD - BINH TAN DIST, HO CHI MINH; Branch Address:
18/49 Quarter 1 Binh Hung Hoa
A Ward, Binh Tan Dist, Ho Chi Minh; Branch Tel :84-
8-38752960; Branch Fax: 84-8-38752862, Branch:
4 ORANGES CO LTD - DA NANG; Branch Address: Hoa Khanh Industrial Zone Rd 2, Da Nang; Branch
Tel:84-511-3736136, Branch: 4 ORANGES
CO LTD - TIEN DU
DIST, BAC NINH; Branch Address: Dai Dong Industrial Zone Hoan Son Commune, Tien Du Dist, Bac Ninh;
Branch Tel: 84-241-3847083;
Branch Fax: 84-241-3847088, Branch: 4 ORANGES CO LTD - HOA VANG, DA NANG; Branch Address:
National Rd 1A Ho Chau
Commune, Hoa Vang, Da Nang; Branch Tel: 84-511- 3685667;
Branch Fax:84-510-3685669. |
|
Office and Facilities |
Name:4 ORANGES CO LTD - DUC HOA, TAN AN;
Primary Use: Office & Administration facilities; Other Use: This
facility is also used for Manufacturing Land Size: 70,000 Square meters;
Address: Duc Hoa Industrial Zone Lot
C 02-1 Hamlet 5 Duc Hoa Dong Commune, Duc Hoa, Tan An, Long An; Country:
Vietnam; Ownership of Property: Rented / Leased; Status:
Operational. |
|
Quality Accreditation (Name: Accreditation Category) |
INTERNATIONAL STANDARDS
ORGANIZATION (ISO): 9001:2000; INTERNATIONAL STANDARDS ORGANIZATION (ISO):14001;INTERNATIONAL;
TANDARDS ORGANIZATION (ISO):9000:2008. |
|
Tax Issuing Authority |
MINISTRY OF FINANCE |
|
Local Name Used |
Gia Trj Gia Tang (Value Added Tax) |
|
Acronym |
GTGT / VAT |
|
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 |
3.595.124.000.000 |
3.247.562.000.000 |
2.737.323.000.000 |
|
Operating Costs |
1.542.936.000.000 |
1.530.490.000.000 |
1.408.105.000.000 |
|
Operating Profit |
2.052.188.000.000 |
1.717.072.000.000 |
1.329.218.000.000 |
|
Wages & Salaries |
- |
- |
- |
|
Pension Costs |
- |
- |
- |
|
Depreciation |
- |
- |
- |
|
Amortisation |
- |
- |
- |
|
Financial Income |
61.732.000.000 |
28.358.000.000 |
11.161.000.000 |
|
Financial Expenses |
9.935.000.000 |
16.561.000.000 |
10.398.000.000 |
|
Extraordinary Income |
17.779.000.000 |
11.310.000.000 |
7.351.000.000 |
|
Extraordinary Costs |
755.110.000.000 |
620.011.000.000 |
552.355.000.000 |
|
Profit before Tax |
1.366.653.000.000 |
1.120.168.000.000 |
784.977.000.000 |
|
Tax |
136.524.000.000 |
116.423.000.000 |
80.071.000.000 |
|
Profit after Tax |
1.230.129.000.000 |
1.003.745.000.000 |
704.906.000.000 |
|
Dividends |
- |
- |
- |
|
Minority Interests |
- |
- |
- |
|
Other Appropriations |
- |
- |
- |
|
Retained Profit |
1.230.129.000.000 |
1.003.745.000.000 |
704.906.000.000 |
Balance
Sheet
|
|||
|
Land & Buildings |
0 |
0 |
0 |
|
Plant & Machinery |
0 |
0 |
0 |
|
Other Tangible Assets |
0 |
0 |
0 |
|
Total Tangible Assets |
101.752.000.000 |
90.062.000.000 |
99.164.000.000 |
|
Goodwill |
0 |
0 |
0 |
|
Other Intangible Assets |
0 |
0 |
0 |
|
Total Intangible Assets |
2.581.000.000 |
2.798.000.000 |
1.846.000.000 |
|
Investments |
54.483.000.000 |
54.483.000.000 |
54.483.000.000 |
|
Loans to Group |
0 |
0 |
0 |
|
Other Loans |
0 |
0 |
0 |
|
Miscellaneous Fixed Assets |
34.128.000.000 |
33.401.000.000 |
39.063.000.000 |
|
Total Other Fixed Assets |
88.611.000.000 |
87.884.000.000 |
93.546.000.000 |
|
Total Fixed Assets |
192.944.000.000 |
180.744.000.000 |
194.556.000.000 |
|
Raw Materials |
0 |
0 |
0 |
|
Work in Progress |
0 |
0 |
0 |
|
Finished Goods |
0 |
0 |
0 |
|
Other Inventories |
0 |
0 |
0 |
|
Total Inventories |
530.249.000.000 |
514.937.000.000 |
506.905.000.000 |
|
Trade Receivables |
381.990.000.000 |
375.968.000.000 |
302.257.000.000 |
|
Group Receivables |
0 |
0 |
0 |
|
Receivables Due after 1 year |
0 |
0 |
0 |
|
Miscellaneous Receivables |
33.554.000.000 |
64.252.000.000 |
92.012.000.000 |
|
Total Receivables |
415.544.000.000 |
440.220.000.000 |
394.269.000.000 |
|
Cash |
1.130.899.000.000 |
965.383.000.000 |
1.043.129.000.000 |
|
Other Current Assets |
0 |
0 |
0 |
|
Total Current Assets |
2.076.691.000.000 |
1.920.540.000.000 |
1.944.303.000.000 |
|
Total Assets |
2.269.635.000.000 |
2.101.284.000.000 |
2.138.859.000.000 |
|
Trade Payables |
248.267.000.000 |
276.153.000.000 |
254.769.000.000 |
|
Bank Liabilities |
0 |
0 |
0 |
|
Other Loans or Finance |
146.536.000.000 |
139.639.000.000 |
318.279.000.000 |
|
Group Payables |
0 |
0 |
0 |
|
Miscellaneous Liabilities |
545.656.000.000 |
587.460.000.000 |
770.417.000.000 |
|
Total Current Liabilities |
940.459.000.000 |
1.003.252.000.000 |
1.343.465.000.000 |
|
Trade Payables After 1 Year |
0 |
0 |
0 |
|
Bank Liabilities After 1 Year |
0 |
0 |
0 |
|
Other Loans or Finance due after 1 year |
29.224.000.000 |
24.468.000.000 |
20.667.000.000 |
|
Group Payables After 1 Year |
0 |
0 |
0 |
|
Miscellaneous Liabilities Due After 1 Year |
0 |
0 |
0 |
|
Total Long Term Liabilities |
29.224.000.000 |
24.468.000.000 |
20.667.000.000 |
|
Total Liabilities |
969.683.000.000 |
1.027.720.000.000 |
1.364.132.000.000 |
|
Called Up Share Capital |
69.818.000.000 |
69.818.000.000 |
69.818.000.000 |
|
Share Premium |
0 |
0 |
0 |
|
Revenue Reserves |
1.230.129.000.000 |
1.003.746.000.000 |
704.907.000.000 |
|
Other Reserves |
5.000.000 |
0 |
2.000.000 |
|
Total Shareholders Equity |
1.299.952.000.000 |
1.073.564.000.000 |
774.727.000.000 |
Other
Financials
|
|||
|
Contingent Liabilities |
|||
|
Working Capital |
1.136.232.000.000 |
917.288.000.000 |
600.838.000.000 |
|
Net Worth |
1.297.371.000.000 |
1.070.766.000.000 |
772.881.000.000 |
Ratios
|
||||
|
Pre Tax Profit Margin |
38.01 |
34.49 |
28.68 |
|
|
Return On Capital Employed |
102.82 |
102.02 |
98.69 |
|
|
Return On Total Assets Employed |
60.21 |
53.31 |
36.7 |
|
|
Return On Net Assets Employed |
105.13 |
104.34 |
101.32 |
|
|
Sales / Net Working Capital |
3.16 |
3.54 |
4.56 |
|
|
Stock Turnover Ratio |
14.75 |
15.86 |
18.52 |
|
|
Debtor Days |
38.78 |
42.26 |
40.3 |
|
|
Creditor Days |
25.21 |
31.04 |
33.97 |
|
|
Current Ratio |
2.21 |
1.91 |
1.45 |
|
|
Liquidity Ratio Or Acid Test |
1.64 |
1.4 |
1.07 |
|
|
Current Debt Ratio |
0.72 |
0.93 |
1.73 |
|
|
Gearing |
||||
|
Equity In Percentage |
57.34 |
51.16 |
36.25 |
|
|
Total Debt Ratio |
0.75 |
0.96 |
1.76 |
|
Additional
Financials
|
|
Gross Profit |
Current
Directors
|
|||
|
Name |
Gender |
Position |
|
|
Smit Cheancharadpong |
Male |
Managing Director |
|
|
Phuong My La |
Female |
Managing Director |
|
|
Chi Thi Anh Nguyen |
Female |
Chief Accountant |
|
Previous
Directors
|
|
No previous directors for this company. |
Share
Capital Structure
|
|
Nominal Share Capital 7.200.000.000.000 |
|
Issued Share Capital 7.200.000.000.000 |
Shareholders
|
||
|
Shareholder |
Address |
% Shares Held |
|
EAST PRESTON ASSOCIATES LTD |
Virgin Islands (British) |
55 |
|
ASIA LEADER INTERNATIONAL
INVESTMENT LTD |
Thailand |
45 |
Ultimate
Holding Parent
|
|||
|
Name |
Status |
Registration Number |
Address |
|
EAST PRESTON ASSOCIATES
LTD |
Active |
P3834243 |
Offshore Center Road Town Tortola |
Immediate
Holding Parent
|
|
No Immediate Holding Parent for this company. |
Subsidaries
|
|
No subsidiaries 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 65.13 |
|
|
1 |
INR 91.95 |
|
Euro |
1 |
INR 80.34 |
|
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.