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MIRA INFORM REPORT
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Report No. : |
505863 |
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Report Date : |
05.05.2018 |
IDENTIFICATION DETAILS
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Name : |
VIET TRUNG IMPORT - EXPORT AND TRADING JSC |
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Registered Office : |
Rm 812, 8Fl 3A
Bldg Duy Tan St Dich Vong Hau Ward, Cau Giay Dist, Hanoi |
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Country : |
Vietnam |
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Financials (as on) : |
December, 2016 |
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Date of Incorporation : |
09.03.2009 |
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Com. Reg. No.: |
0103488124 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Support activities for other mining and quarrying. |
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No. of Employees : |
10 |
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 : |
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) |
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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. 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.
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Source
: CIA |
Company
name and Summary
|
Business
Name |
VIET
TRUNG IMPORT - EXPORT AND TRADING JSC |
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Country |
VIET
NAM |
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Company
Registration Number |
0103488124 |
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Main
Activity Code |
0990 |
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Main
Activity Description |
Support
activities for other mining and quarrying |
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Company
Status |
Normal
(Active) |
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Latest
Turnover Figure |
- |
|
Latest
Shareholder Equity Figure |
17.440.000.000 |
Basic
Information
|
Business
Name |
VIET
TRUNG IMPORT - EXPORT AND TRADING JSC |
|
Registered
Company Name |
VIET
TRUNG IMPORT - EXPORT AND TRADING JSC |
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Company
Registration Number |
0103488124 |
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Country |
VIET
NAM |
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VAT
Registration Number |
0103488124 |
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VAT
Registration Date |
2009-03-09 |
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Date
of Company Registration |
2009-03-09 |
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Date
of Starting Operations |
2009-03-09 |
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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 |
|
|
Principal
Activity Description |
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|
Contact
Telephone Number |
[+84]
24-66889900 |
Main
Address
|
Address |
Country |
Telephone |
|
Rm 812, 8Fl 3A Bldg Duy Tan St Dich Vong
Hau Ward, Cau Giay Dist, Hanoi |
VIET
NAM |
[+84]
24-66889900 |
Other
Address
|
No
other addresses for this company. |
Previous
Address
|
No
previous addresses for this company. |
Activities
|
Activity Code Activity Description |
|
0990 Support activities for other
mining and quarrying |
Email
Addresses
Web
Pages
Employee
Information
|
Date Reported Number of Employees |
|
2018 10 |
Banker
Information
|
No
banker information for this company. |
Advisors
Information
|
No
advisor information for this company. |
Miscellaneous
Information
|
Fax
Number |
|
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Export
Countries |
Asia
/ Pacific, China, India. |
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Import
Countries |
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Additional
Business Information |
Core Business; The primary business focus of VIET TRUNG IMPORT - EXPORT AND
TRADING JSC is
Exporting - Finished products. Key products include: Aluminum,
Minerals, Zinc. |
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Additional
Rating Information |
Average
Credit Quality: Credit can proceed ONLY on strict financing terms, Proposed
Credit Limit: USD $79,000,
Revision of Credit Limit: Periodic /quarterly, Risk Index: Medium |
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Additional
Payment Information |
Selling Type; Export Terms; Telegraphic Transfer (T/T) - Received at time of transaction, Letter
of Credit (At- sight) Purchasing Type; Local
Terms; Credit - Unsecured 30~60
days, Cash on delivery (COD) |
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Additional
Financial Information |
Financial
Statements were prepared as at 31.12.16. Based on the corporate laws of
Vietnam, legal entities which are a Joint Stock Company are not required to
make public disclosure of their annual financials. Although
basic financials were obtained for reference. |
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Number
of Employees at Address |
10 |
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Number
of Employees at Group |
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|
Number
of Employees at Factory |
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Additional
Miscellaneous Information
|
Name
in Local Language |
CÔNG
TY CỔ PHẦN XUẤT NHẬP KHẨU VÀ THƯƠNG MẠI
VIỆT TRUNG |
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Registered
Legal Address |
Phu
Nghia Hamlet Minh Phu Commune, Soc Son, Hanoi |
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Issuing
Authority |
DEPARTMENT
OF PLANNING & INVESTMENT - Hanoi |
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Legal
Form - Category |
Joint
Stock Company |
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Capital |
US$
232,824 |
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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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Domestic
Sales and Purchases (Annual Sales Analysis; Percentage) (Annual
Purchases Analysis; Percentage) |
International
Sales (Export); 100%, Local Purchases; 100% |
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Director
Date of Birth |
Ms.
Ha Thu Thi Vu, 1969 |
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Reputation |
Reference checking for the purpose of establishing VIET TRUNG IMPORT - EXPORT AND TRADING 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 |
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Office
and Facilities |
Name: VIET TRUNG IMPORT - EXPORT AND TRADING
JSC - CAU GIAY
DIST, HANOI, Primary Use: Office & Administration facilities, Address: Rm 812, 8Fl 3A Bldg Duy
Tan St Dich Vong Hau Ward, Cau Giay Dist, Hanoi, Country: Vietnam, Status: Operational. |
Primary
Products
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Products
/ Materials / Services Description |
Activity |
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Aluminum |
Exporting |
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Minerals |
Exporting |
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Zinc |
Exporting |
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Financial
Year |
2016-12 |
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Number
of Weeks |
52 |
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Currency |
VND |
|
Consolidated
Accounts |
No |
Profit
and Loss
|
Revenue |
36.201.000.000 |
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Operating
Costs |
32.777.000.000 |
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Operating
Profit |
3.424.000.000 |
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Wages
& Salaries |
- |
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Pension
Costs |
- |
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Depreciation |
- |
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Amortisation |
- |
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Financial
Income |
- |
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Financial
Expenses |
308.000.000 |
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Extraordinary
Income |
- |
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Extraordinary
Costs |
704.000.000 |
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Profit
before Tax |
2.413.000.000 |
|
Tax |
483.000.000 |
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Profit
after Tax |
1.930.000.000 |
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Dividends |
- |
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Minority
Interests |
- |
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Other
Appropriations |
- |
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Retained
Profit |
1.930.000.000 |
Balance
Sheet
|
Land
& Buildings |
0 |
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Plant
& Machinery |
0 |
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Other
Tangible Assets |
0 |
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Total
Tangible Assets |
2.624.000.000 |
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Goodwill |
0 |
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Other
Intangible Assets |
0 |
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Total
Intangible Assets |
0 |
|
Investments |
0 |
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Loans
to Group |
0 |
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Other
Loans |
0 |
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Miscellaneous
Fixed Assets |
13.000.000 |
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Total
Other Fixed Assets |
13.000.000 |
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Total
Fixed Assets |
2.638.000.000 |
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Raw
Materials |
0 |
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Work
in Progress |
0 |
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Finished
Goods |
0 |
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Other
Inventories |
0 |
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Total
Inventories |
6.267.000.000 |
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Trade
Receivables |
0 |
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Group
Receivables |
4.182.000.000 |
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Receivables
Due after 1 year |
0 |
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Miscellaneous
Receivables |
1.953.000.000 |
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Total
Receivables |
6.135.000.000 |
|
Cash |
7.480.000.000 |
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Other
Current Assets |
0 |
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Total
Current Assets |
19.882.000.000 |
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Total
Assets |
22.520.000.000 |
|
Trade
Payables |
505.000.000 |
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Bank
Liabilities |
0 |
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Other
Loans or Finance |
1.551.000.000 |
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Group
Payables |
0 |
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Miscellaneous
Liabilities |
2.096.000.000 |
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Total
Current Liabilities |
4.153.000.000 |
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Trade
Payables After 1 Year |
0 |
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Bank
Liabilities After 1 Year |
0 |
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Other
Loans or Finance due after 1 year |
927.000.000 |
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Group
Payables After 1 Year |
0 |
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Miscellaneous
Liabilities Due After 1 Year |
0 |
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Total
Long Term Liabilities |
927.000.000 |
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Total
Liabilities |
5.080.000.000 |
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Called
Up Share Capital |
15.000.000.000 |
|
Share
Premium |
0 |
|
Revenue
Reserves |
2.440.000.000 |
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Other
Reserves |
0 |
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Total
Shareholders Equity |
17.440.000.000 |
Other
Financials
|
Contingent
Liabilities |
|
Working Capital 15.729.000.000 |
|
Net Worth 0 |
Ratios
|
Pre
Tax Profit Margin |
6.67 |
|
Return
On Capital Employed |
13.14 |
|
Return
On Total Assets Employed |
10.71 |
|
Return
On Net Assets Employed |
13.84 |
|
Sales
/ Net Working Capital |
2.3 |
|
Stock
Turnover Ratio |
17.31 |
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Debtor
Days |
|
|
Creditor
Days |
5.09 |
|
Current
Ratio |
4.79 |
|
Liquidity
Ratio Or Acid Test |
3.28 |
|
Current
Debt Ratio |
0.24 |
|
Gearing |
|
|
Equity
In Percentage |
|
|
Total
Debt Ratio |
0.29 |
Additional
Financials
|
Gross
Profit |
Current
Directors
|
Name |
Gender |
Position |
|
Ha
Thu Thi Vu |
Female |
Managing
Director |
|
Thanh
Tuan Phuong |
Male |
Managing
Director |
|
Vinh
Thi Thai |
Female |
Chief
Accountant |
Previous
Directors
|
No
previous directors for this company. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 66.76 |
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|
1 |
INR 90.58 |
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Euro |
1 |
INR 79.96 |
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VND |
1 |
INR 0.0029 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
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Report Prepared
by : |
DNS |
RATING EXPLANATIONS
|
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 |
|
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
·
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.