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MIRA INFORM REPORT
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Report No. : |
497442 |
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Report Date : |
24.03.2018 |
IDENTIFICATION DETAILS
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Name : |
ASIA PLASTIC INDUSTRY JSC |
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Registered Office : |
3rd Floor, Viettal Nghe An Building, Lenin Street Ha Huy Tap Precint,
Vinh, Nighe An |
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Country : |
Vietnam |
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Date of Incorporation : |
05.10.2015 |
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Com. Reg. No.: |
2901801471 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
· Manufacturer of Plastics in Primary Forms. · Manufacturer of Plastic Plates, Sheets, Tubes and Profiles. |
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No. of Employees : |
40 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Vietnam |
A2 |
A2 |
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Risk Category |
ECGC Classification |
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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.
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Source
: CIA |
COMPANY NAME
ASIA PLASTIC
INDUSTRY JSC
COMPANY SUMMARY
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Business Name |
APAC |
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Country |
VIET NAM |
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Company Registration Number |
2901801471 |
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Main Activity Code |
2016 |
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Main Activity Description |
Manufacture of plastics in primary forms |
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Company Status |
Normal (Active) |
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Latest Turnover Figure |
- |
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Latest Shareholder Equity Figure |
- |
BASIC INFORMATION
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Business Name |
APAC |
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Registered Company Name |
ASIA PLASTIC INDUSTRY JSC |
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Company Registration Number |
2901801471 |
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Country |
VIET NAM |
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VAT Registration Number |
2901801471 |
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VAT Registration Date |
2015-10-05 |
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Date of Company Registration |
2015-10-05 |
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Date of Starting Operations |
2015-10-05 |
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Commercial Court |
-- |
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Legal Form |
Joint Stock Company |
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Type of Ownership |
-- |
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Company Status |
Normal (Active) |
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Principal Activity Code |
-- |
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Principal Activity Description |
-- |
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Contact Telephone Number |
[+84] 238-3821789 / [+84] 238-6256148
[+84]-904456866 |
MAIN ADDRESS
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Address |
Country |
Telephone |
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3Fl Viettel Nghe An Bldg Lenin
St Ha Huy Tap Precint, Vinh, Nghe An |
VIET NAM |
[+84] 238-3821789/[+84] 238- 6256148 [+84]-904456866 |
OTHER ADDRESS
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Address |
Country |
Telephone |
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Nghia Long Industrial Zone, Nghia
Dan, Nghe An |
VIET NAM |
-- |
PREVIOUS ADDRESS
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Address |
Country |
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No previous addresses for this company. |
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ACTIVITIES
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Activity
Code |
Activity
Description |
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2016 |
Manufacture of plastics in primary forms |
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2221 |
Manufacture of plastic plates, sheets, tubes and profiles |
Email Addresses
Web Pages
EMPLOYEE INFORMATION
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Date Reported |
Number of Employees |
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2018 |
40 |
Banker Information
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Banker
Name |
Banker Address |
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JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM |
Ha Tinh |
advisor information
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Auditor
Name |
Solicitor
Name |
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No advisor information for this company. |
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Miscellaneous Information
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Fax Number |
[+84] 238-6542148 / [+84] 238-3812789 |
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Export Countries |
Asia / Pacific, Indonesia, Korea, South
(Republic of Korea) |
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Import Countries |
-- |
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Additional Business Information |
Core Business The primary
business focus of ASIA PLASTIC INDUSTRY
JSC is Manufacturing -Finished products. Key
products include : Natural calcium
carbonate Calcium carbonate fillers Plastic
resins An integral part of the core business
includes: Distribution Supplementary Business
In addition to the core business, ASIA
PLASTIC INDUSTRY JSC also is engaged
in the following areas of business:
Exporting Exporting - Finished products |
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Additional Rating Information |
Credit Opinion :Average Credit Quality:
Credit can proceed ONLY on strict
financing terms. Revision of Credit Limit: Periodic
/quarterly Risk Index: Medium |
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Additional Payment Information |
Selling Type Terms 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 Type Terms
Local Credit -
Unsecured 30~60 days Cash on delivery
(COD) |
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Additional Financial Information |
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. Therefore no financials are
available for this entity. |
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Number of Employees at Address |
40 |
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Number of Employees at Group |
-- |
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Number of Employees at Factory |
-- |
Additional Miscellaneous Information
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Issuing Authority |
Dept. Of planning & investment
- nghe an |
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Legal Form - Category |
Joint Stock Company |
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Legal Form - Abbreviation |
JSC |
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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. |
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Primary Products |
Products / Materials / Services
Description Activity Calcium carbonate fillers
Manufacturing, Exporting Natural calcium carbonate
Manufacturing, Exporting Plastic resins
Manufacturing, Exporting |
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Domestic Sales and Purchases (Annual Sales
Analysis, Percentage) |
Domestic Sales 50% International Sales
(Export) 50%Annual Purchases Analysis Percentage
Local Purchases 100% |
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Reputation |
Due to the recent incorporation of
the ASIA PLASTIC INDUSTRY JSC, and
the relatively small nature of its
business, no meaningful points of
reference in terms of reputation within
the respective industry was possible. |
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Nega-Scan - Adverse Data Monitoring |
Dishonored checks No record found
Debt No record found Civil litigation
No record found Performance defaults No
record found Adverse local media
coverage / adverse filing history No
record found |
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Bank Details |
Global Identifier: 32400479, Branch:
JOINT STOCK COMMERCIAL BANK FOR FOREIGN
TRADE OF VIETNAM - HA TINH, SWIFT Code:
BFTVVNVX |
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Shareholders |
Total number of shareholders : 5
Total number of shares : N/a |
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Office and facilities |
Name: ASIA PLASTIC INDUSTRY JSC -
VINH, NGHE AN Primary Use: Office &
Administration facilities Building Size:5 Hectares
Address:3Fl Viettel Nghe An Bldg Lenin
St Ha Huy Tap Precint, Vinh, Nghe
An Country: Vietnam Status: Operational |
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Factories, Size, & Locations |
The following information relates to
the Business Entity's factory as listed
above: Address: Nghia Long Industrial Zone,
Nghia Dan, Nghe An |
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Primary Business Activity |
Manufacturer |
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Key Industry |
Plastics & Products |
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Tax / VAT Details |
Tax Issuing Authority: MINISTRY OF
FINANCE, Local Name Used: Gia Trj
Gia Tang (Value Added Tax), Acronym : GTGT/VAT |
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Registered Legal Address |
3Fl Viettel Nghe An Bldg Lenin
St Ha Huy Tap Precint, Vinh, Nghe
An |
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Capital |
US$ 658,815 |
Financial Information
No financial information for this company.
Current Directors
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Name |
Gender |
Address |
Date of
Birth |
Position |
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Hung Manh Le |
Male |
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1978-08-03 |
Managing Director |
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Lucie Le |
Female |
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Representative |
Previous Directors
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Name |
Gender |
Address |
Date
of Birth |
Position |
Resignation
Date |
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No previous directors for this company. |
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Share Capital Structure
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Nominal Share Capital |
1.500.000.000.000 |
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Issued Share Capital |
1.500.000.000.000 |
Shareholders
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Shareholder |
Address |
% Shares
Held |
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Mr. Hoa Duc Nguyen |
Vietnam |
30 |
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Mr. Hung Manh Le |
Vietnam |
30 |
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Ms. Thu Hang Thi Le |
Vietnam |
20 |
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Mr. Thanh Duc Ho |
Vietnam |
10 |
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Mr. Thanh Trung Nguyen |
Vietnam |
10 |
Group Structure
No group structure information for this company
Negative Information
No negative information for this company
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.13 |
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1 |
INR 91.96 |
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Euro |
1 |
INR 80.34 |
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VND |
1 |
INR 0.0029 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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VIV |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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
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Promoters
/ Management background
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Payment
record
·
Litigation
against the subject
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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.