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MIRA INFORM REPORT
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Report No. : |
505962 |
|
Report Date : |
07.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
BATECO VIETNAM JSC |
|
|
|
|
Registered Office : |
9Fl Anh Minh Bldg 36 Hoang
Cau, Dong Da, Hanoi |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
December 2016 |
|
|
|
|
Date of Incorporation : |
18.09.2012 |
|
|
|
|
Com. Reg. No.: |
0105992880 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Wholesale of chemical
products |
|
|
|
|
No. of Employees : |
40 |
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 |
|
Maximum Credit Limit : |
165,000 USD |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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. 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.
|
Source
: CIA |
Company Summary
|
Business Name |
BATECO
VIETNAM JSC |
|
Country |
VIET NAM |
|
Company Registration Number |
0105992880 |
|
Main Activity Code |
4675 |
|
Main Activity Description |
Wholesale
of chemical products |
|
Company Status |
Normal
(Active) |
|
Latest Shareholder Equity Figure |
7.602.000.000 |
|
Credit
Limit |
165,000
USD |
Basic Information
|
Business Name |
BATECO
VIETNAM JSC |
|
Registered
Company Name |
BATECO
VIETNAM JSC |
|
Company Registration
Number |
0105992880 |
|
Country |
VIET NAM |
|
VAT
Registration Number |
0105992880 |
|
VAT
Registration Date |
2012-09-18 |
|
Date of
Company Registration |
2012-09-18 |
|
Date of
Starting Operations |
2012-09-18 |
|
Legal
Form |
Joint
Stock Company |
|
Company
Status |
Normal
(Active) |
|
Contact
Telephone Number |
[+84]
4-66813388 |
Main Address
|
Address |
Country |
Telephone |
|
9Fl Anh
Minh Bldg 36 Hoang Cau, Dong Da, Hanoi |
VIET NAM |
[+84]
4-66813388 |
Other Address
No other addresses for this company.
Previous Address
No previous addresses for this company.
Activities
Activity
Code Description
4675 Wholesale of chemical products
Email
Addresses
Web Pages
Employee Information
|
Date Reported |
Number of Employees |
|
2018 |
40 |
Banker Information
Banker Name
JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM Hanoi
Advisors Information
No advisor information for this company.
Miscellaneous Information
|
Fax Number |
[+84] 4-32002639 |
|
Import Countries |
Asia / Pacific, North America, USA. |
|
Additional Business
Information |
Core Business: The primary business focus of BATECO VIETNAM JSC is Trading - Finished products. Key product include: Chemicals. Supplementary Business: In addition to the core business, BATECO VIETNAM JSC also is engaged in the following areas of business: 1. Importing: Importing - Finished products. |
|
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 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 |
40 |
Additional Miscellaneous Information
|
Primary
Business Activity |
Trader |
|
Key
Industry |
Chemicals |
|
Registered
Legal Address |
9Fl Anh
Minh Bldg 36 Hoang Cau, Dong Da, Hanoi |
|
Issuing
Authority |
Department
Of Planning & Investment - Hanoi |
|
Capital |
US$
1,317,870 |
|
Tax /
VAT Details |
Tax Issuing Authority: MINISTRY OF FINANCE, Local Name Used: Gia Trj
Gia Tang (Value Added Tax), Acronym: GTGT / VAT. |
|
Domestic
Sales & Purchases |
Annual Sales Analysis: Domestic Sales: 100%. Annual Purchases Analysis:
Local Purchases: 70%, Imports: 30%. |
|
Management
Details |
Name: Mr. Tuan Anh Pham, Date of Birth: 1982. |
|
Reputation |
Reference checking for the purpose of establishing BATECO VIETNAM
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. |
|
Bank
Details |
Global Identifier: 32400479, Branch: JOINT STOCK COMMERCIAL BANK FOR
FOREIGN TRADE OF VIETNAM - HANOI, SWIFT Code: BFTVVNVX. |
|
Office
& Facilities |
The following information relates to the Business Entity's office as
listed above: Name: BATECO VIETNAM JSC - DONG DA, HANOI, Primary Use: Office
& Administration facilities, Address: 9Fl Anh Minh Bldg 36 Hoang Cau, Dong Da, Hanoi, Country: Vietnam, Status: Operational. |
|
Previous
Contact Details |
Telephone
Number: 84-4-39461080, Fax Number: 84-4-39461025. |
|
Primary
Products |
|
|
Products
/ Materials / Services Description Activity |
|
|
Chemicals |
Importing,
Trading |
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 |
63.797.000.000 |
- |
21.962.000.000 |
|
Operating
Costs |
56.175.000.000 |
- |
21.745.000.000 |
|
Operating
Profit |
7.622.000.000 |
- |
217.000.000 |
|
Wages
& Salaries |
- |
- |
- |
|
Pension
Costs |
- |
- |
- |
|
Depreciation |
- |
- |
- |
|
Amortisation |
- |
- |
- |
|
Financial
Income |
- |
- |
- |
|
Financial
Expenses |
- |
- |
- |
|
Extraordinary
Income |
- |
- |
- |
|
Extraordinary
Costs |
- |
- |
- |
|
Profit
before Tax |
- |
7.622.000.000
|
217.000.000 |
|
Tax |
- |
40.000.000 |
|
|
Profit
after Tax |
- |
- 7.622.000.000 |
177.000.000 |
|
Dividends |
- |
- |
- |
|
Minority
Interests |
- |
- |
- |
|
Other
Appropriations |
- |
- |
- |
|
Retained
Profit |
- |
7.622.000.000
|
177.000.000 |
|
|
|
|
|
|
Balance
Sheet |
|
|
|
|
Land
& Buildings |
0 |
0 |
0 |
|
Plant
& Machinery |
0 |
0 |
0 |
|
Other
Tangible Assets |
745.000.000 |
754.000.000 |
740.000.000 |
|
Total
Tangible Assets |
745.000.000 |
754.000.000 |
740.000.000 |
|
Goodwill |
0 |
0 |
0 |
|
Other Intangible
Assets |
0 |
0 |
0 |
|
Total
Intangible Assets |
0 |
0 |
0 |
|
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 |
754.000.000 |
754.000.000 |
740.000.000 |
|
Raw
Materials |
0 |
0 |
0 |
|
Work in
Progress |
0 |
0 |
0 |
|
Finished
Goods |
0 |
0 |
0 |
|
Other
Inventories |
0 |
0 |
0 |
|
Total
Inventories |
5.286.000.000 |
4.348.000.000 |
1.667.000.000 |
|
Trade
Receivables |
9.506.000.000 |
9.309.000.000 |
815.000.000 |
|
Group
Receivables |
0 |
0 |
0 |
|
Receivables
Due after 1 year |
0 |
0 |
0 |
|
Miscellaneous
Receivables |
0 |
0 |
0 |
|
Total
Receivables |
9.506.000.000 |
9.309.000.000 |
815.000.000 |
|
Cash |
3.914.000.000 |
2.977.000.000 |
5.172.000.000 |
|
Other
Current Assets |
533.000.000 |
0 |
305.000.000 |
|
Total
Current Assets |
19.239.000.000 |
16.634.000.000 |
7.959.000.000 |
|
Total
Assets |
19.993.000.000 |
17.388.000.000 |
8.699.000.000 |
|
Trade
Payables |
10.530.000.000 |
10.838.000.000 |
0 |
|
Bank
Liabilities |
0 |
0 |
0 |
|
Other
Loans or Finance |
400.000.000 |
0 |
7.426.000.000 |
|
Group
Payables |
0 |
0 |
0 |
|
Miscellaneous
Liabilities |
0 |
0 |
0 |
|
Total
Current Liabilities |
12.391.000.000 |
10.838.000.000 |
7.426.000.000 |
|
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 |
0 |
0 |
|
Total
Long Term Liabilities |
0 |
0 |
0 |
|
Total
Liabilities |
12.391.000.000 |
10.838.000.000 |
7.426.000.000 |
|
Called
Up Share Capital |
0 |
0 |
0 |
|
Share
Premium |
0 |
0 |
0 |
|
Revenue
Reserves |
0 |
0 |
0 |
|
Other
Reserves |
7.602.000.000 |
6.550.000.000 |
1.273.000.000 |
|
Total
Shareholders Equity |
7.602.000.000 |
6.550.000.000 |
1.273.000.000 |
|
Other
Financials Contingent
Liabilities |
|
|
|
|
Working
Capital |
6.848.000.000 |
5.796.000.000 |
533.000.000 |
|
Net
Worth |
0 |
0 |
0 |
|
Ratios Pre Tax
Profit Margin |
|
11.95 |
0.99 |
|
Return
On Total Assets Employed |
|
43.83 |
2.49 |
|
Return
On Net Assets Employed |
|
116.37 |
17.05 |
|
Sales /
Net Working Capital |
|
11.01 |
41.2 |
|
Stock Turnover
Ratio |
|
6.82 |
7.59 |
|
Debtor
Days |
|
53.26 |
13.54 |
|
Creditor
Days |
|
62.01 |
|
|
Current
Ratio |
1.55 |
1.53 |
1.07 |
|
Liquidity
Ratio Or Acid Test |
1.13 |
1.13 |
0.85 |
|
Current
Debt Ratio |
1.63 |
1.65 |
5.83 |
|
Total
Debt Ratio |
1.63 |
1.65 |
5.83 |
Current Directors
|
Name |
Gender |
Address |
Date of
Birth |
Position |
|
Tuan Anh
Pham |
Male |
|
|
Managing
Director Director |
|
Lien
Phuong Nguyen |
Female |
|
|
Deputy
Managing Director Director |
|
Lan
Hoang Pham |
Female |
|
|
Chief
Accountant |
Previous
Directors
No
previous directors for this company.
Share Capital Structure
Nominal Share Capital 30.000.000.000
Shareholders
|
Shareholder |
Address |
% Shares
Held |
|
Mr. Tuan
Anh Pham |
Vietnam |
34 |
|
Mr. Cuong
Manh Hoang |
Vietnam |
33 |
|
Ms.
Huong Vinh Thi Nguyen |
Vietnam |
33 |
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 66.78 |
|
|
1 |
INR 90.58 |
|
Euro |
1 |
INR 79.97 |
|
VND |
1 |
INR 0.0029 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
SYL |
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.