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MIRA INFORM REPORT
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Report No. : |
505571 |
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Report Date : |
07.05.2018 |
IDENTIFICATION DETAILS
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Name : |
PHA LE PLASTICS MANUFACTURING AND TECHNOLOGY JSC |
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Formerly Known As : |
PHA LE MINERAL JSC |
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Registered Office : |
MP Dinh Vu Industrial Zone Dinh Vu Cat - Hai Economic Zone
Lot Cn 4.3 Dong Hai 2 Ward, Hai An Dist, Haiphong |
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Country : |
Viet Nam |
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Financials (as on) : |
December 2017 |
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Date of Incorporation : |
18.11.2008 |
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Com. Reg. No.: |
0103018538 |
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Legal Form : |
Public Listed Company |
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Line of Business : |
· Operation of gravel and sand pits; mining of clays and kaolin ·
Demolition |
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No. of Employees : |
200 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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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) |
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Viet Nam |
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 |
VIET NAM - 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
Summary
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Business Name |
PHA LE MINERAL |
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Country |
VIET NAM |
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Company Registration Number |
0103018538 |
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Main Activity Code |
4311 |
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Main Activity Description |
Demolition |
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Company Status |
Normal (Active) |
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Latest Turnover Figure |
2.303.439 |
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Latest Shareholder Equity Figure |
203.623.000.000 |
Basic
Information
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|
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Business Name |
PHA LE MINERAL |
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Registered Company Name |
PHA LE PLASTICS MANUFACTURING AND TECHNOLOGY JSC |
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Company Registration Number |
0103018538 |
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Country |
VIET NAM |
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VAT Registration Number |
0103018538 |
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VAT Registration Date |
2008-11-20 |
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Date of Company Registration |
2008-11-18 |
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Date of Starting Operations |
2008-11-18 |
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Commercial Court |
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Legal Form |
Public Listed 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] 225-8830102 [+84] 225-6283495 |
Main
Address
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Address |
Country |
Telephone |
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MP Dinh Vu Industrial Zone Dinh Vu Cat - Hai Economic Zone Lot Cn 4.3 Dong Hai 2 Ward, Hai An Dist, Haiphong |
VIET NAM |
[+84] 225-8830102 [+84] 225- 6283495 |
Other
Address
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||
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Address |
Country |
Telephone |
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Thung Hung Chau Tien Commune, Quy Hop Dist, Nghe An |
VIET NAM |
84-24-35551669 |
Previous
Address
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Address Country |
|
63B To Hien Thanh St Le Dai Hanh Ward, Hai Ba Trung Dist, Hanoi VIET NAM |
Activities
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Activity Code |
Activity Description |
|
4311 |
Demolition |
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0812 |
Operation of gravel and sand pits; mining of clays and kaolin |
Email
Addresses
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Web
Pages
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Previous
Names
|
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Previous Name Date Changed from Previous Name |
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PHA LE MINERAL JSC 2008-11-18 |
Employee
Information
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Date Reported Number of Employees |
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2018 200 |
Banker
Information
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Banker Name Banker Address Phone Number |
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Asia Commercial Joint Stock Bank |
Advisors
Information
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No advisor information for this company. |
Miscellaneous
Information
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Fax Number |
[+84] 225-8830102 |
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Export Countries |
Asia / Pacific, Brazil, China, India |
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Import Countries |
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Additional Business Information |
Core Business The primary business focus of PHA LE PLASTICS MANUFACTURING AND TECHNOLOGY JSC is Manufacturing - Finished products. Key products include : Calcium carbonate Minerals Natural stonesResin Stone powders An integral part of the core business includes: Distribution Supplementary Business In addition to the core business, PHA LE PLASTICS MANUFACTURING AND TECHNOLOGY JSC also is engaged in the following areas of business: Exporting Exporting - Finished products Service Specialized professional services, including: Minerals explorationMinerals processing |
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Additional Payment Information |
Selling Type Terms Local Cash on delivery (COD) Credit - Unsecured 30~90 days Export Telegraphic Transfer (T/T) - Received at time of transaction Letter of Credit (At-sight) Purchasing Type Terms Local Credit - Unsecured 30~90 days Cash on delivery (COD) |
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Additional Financial Information |
Financial Statement Were Prepared As At 2017-12-01,2016-12-01 And 2015-12-01 Year Turnover Assets Net Income 2013 Annual 1,818,183 3,859,287 370,067 2014 Annual 2,303,439 6,051,004 498,165 |
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Number of Employees at Address |
200 |
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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
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Name History |
Business Entity Name Effective Date PHA LE MINERAL JSC 18 Nov, 2008 PHA LE PLASTICS MANUFACTURING AND TECHNOLOGY JSC 5 May, 2017 |
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Issuing Authority |
Dept. Of planning & investment - hai phong |
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Legal Form |
Joint Stock Company |
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Sic Product Classification & Activity |
Product/Service Description Code Activity Excavation Work 1794 Service Minerals and earths, ground or otherwise treated 3295 Manufacturing, Exporting |
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Harmonized Product Classification & Activity |
Product/Service Description Code Activity Excavation work 9829 Service Mineral substances nesoi 2530 Manufacturing, Exporting |
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Detailed Product Classification & Activity |
Products / Materials / Services Description Ranking Activity Mineral exploration Secondary Service Minerals exploration Secondary Service Minerals processing Secondary Service |
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Domestic Sales & Purchases |
Annual Sales Analysis Percentage Domestic Sales 30% International Sales (Export) 70% Annual Purchases Analysis Percentage Local Purchases 100% |
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Stock Exchange Listing Details |
Country:Vietnam Name of Stock Exchange:Name Acronym HOCHIMINH STOCK EXCHANGE HOSE Stock Symbol / No.:PLP Date of listing:21 Aug, 2017 |
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Capital |
Date Authorized Capital - History 2013 72,278,000,000 2014 100,000,000,000 5 May, 2017 150,000,000,000 |
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Reputation |
The Pha Le Plastics Manufacturing And Technology Jsc Maintains A Good And Well-Established |
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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 |
Global Identifier:P0075118 SWIFT Code:ASCBVNVX Bank Name:JOINT STOCK COMMERCIAL BANK FOR |
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INVESTMENT & DEVELOPMENT OF VIETNAM Global Identifier:32400483 Branch:DONG DA SWIFT |
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Code:BIDVVNVX Bank Name :VIETNAM BANK FOR AGRICULTURE & RURAL DEVELOPMENT Global |
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Identifier:32408794 Branch:VIETNAM BANK FOR AGRICULTURE Branch Address:My Dinh SWIFT Code |
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:VBAAVNVX Bank Name:VIETNAM EXPORT IMPORT COMMERCIAL JOINT STOCK BANK Global |
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Identifier:32408823 Branch:BA DINH SWIFT Code:EBVIVNVX |
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Local Branches & Management |
Branch:PHA LE PLASTICS MANUFACTURING AND TECHNOLOGY JSC - CAU GIAY DIST, HANOI Branch Address:8Fl, 169 Nguyen Ngoc Vu St Trung Hoa Ward, Cau Giay Dist, Hanoi Branch Tel:84-24-35551669 Branch Fax:84-24-35551671 |
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Shareholders |
Total number of shareholders:n/a Total number of shares :n/a |
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Office & Facilities |
The following information relates to the Business Entity's office as listed above: Name :PHA LE PLASTICS MANUFACTURING AND TECHNOLOGY JSC - HAI AN DIST, HAIPHONG Primary Use :Office & Administration facilities Other Use:This facility is also used for Manufacturing Address:MP Dinh Vu Industrial Zone Dinh Vu Cat - Hai Economic Zone Lot Cn 4.3 Dong Hai 2 Ward, Hai An Dist, Haiphong 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:Thung Hung Chau Tien Commune, Quy Hop Dist, Nghe An |
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Quality Accreditation |
Name Accreditation Category INTERNATIONAL STANDARDS ORGANIZATION (ISO) 9001:2015 |
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Primary Business Activity |
Manufacturer |
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Key Industry |
Minerals / Mining |
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Registered Legal Address |
MP Dinh Vu Industrial Zone Dinh Vu Cat - Hai Economic Zone Lot Cn 4.3 Dong Hai 2 Ward, Hai An Dist, Haiphong |
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Capital |
US$ 6,604,994 |
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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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Management Details |
1. Name: Mr. Thang Quang Duong, Date of Birth: 1972. |
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Previous Contact Details |
Company Address: 63B To Hien Thanh St Le Dai Hanh Ward, Hai Ba Trung Dist, Hanoi, Date of Relocation: 5 May, 2017. |
Primary
Products
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Products / Materials / Services Description |
Activity |
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Calcium carbonate |
Manufacturing, Exporting |
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Minerals |
Manufacturing, Exporting |
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Natural stones |
Manufacturing, Exporting |
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Resin |
Manufacturing, Exporting |
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Stone powders |
Manufacturing, Exporting |
Financials
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Financial Year |
2017-12 |
2016-12 |
2015-12 |
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Number of Weeks |
52 |
52 |
52 |
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Currency |
VND |
VND |
VND |
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Consolidated Accounts |
No |
No |
No |
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Profit and Loss |
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Revenue |
314.066.000.000 |
128.420.000.000 |
32.325.000.000 |
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Operating Costs |
219.537.000.000 |
107.608.000.000 |
24.326.000.000 |
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Operating Profit |
94.529.000.000 |
20.813.000.000 |
7.999.000.000 |
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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 |
855.000.000 |
1.690.000.000 |
2.299.000.000 |
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Financial Expenses |
16.697.000.000 |
5.840.000.000 |
211.000.000 |
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Extraordinary Income |
16.000.000 |
7.000.000 |
6.000.000 |
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Extraordinary Costs |
26.979.000.000 |
8.629.000.000 |
8.493.000.000 |
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Profit before Tax |
51.724.000.000 |
8.040.000.000 |
1.600.000.000 |
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Tax |
- |
363.000.000 |
286.000.000 |
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Profit after Tax |
51.724.000.000 |
7.677.000.000 |
1.314.000.000 |
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Dividends |
- |
- |
- |
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Minority Interests |
- |
- |
- |
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Other Appropriations |
- |
- |
- |
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Retained Profit |
51.724.000.000 |
7.677.000.000 |
1.314.000.000 |
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Balance Sheet |
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Land & Buildings |
0 |
0 |
0 |
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Plant & Machinery |
0 |
0 |
0 |
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Other Tangible Assets |
110.318.000.000 |
105.047.000.000 |
49.611.000.000 |
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Total Tangible Assets |
110.318.000.000 |
105.047.000.000 |
49.611.000.000 |
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Goodwill |
0 |
0 |
0 |
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Other Intangible Assets |
14.315.000.000 |
14.692.000.000 |
0 |
|
Total Intangible Assets |
14.315.000.000 |
14.692.000.000 |
0 |
|
Investments |
0 |
0 |
0 |
|
Loans to Group |
0 |
0 |
0 |
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Other Loans |
0 |
0 |
0 |
|
Miscellaneous Fixed Assets |
58.985.000.000 |
42.870.000.000 |
61.007.000.000 |
|
Total Other Fixed Assets |
58.985.000.000 |
42.870.000.000 |
61.007.000.000 |
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Total Fixed Assets |
183.618.000.000 |
162.609.000.000 |
110.618.000.000 |
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Raw Materials |
0 |
0 |
0 |
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Work in Progress |
0 |
0 |
0 |
|
Finished Goods |
0 |
0 |
0 |
|
Other Inventories |
100.980.000.000 |
40.062.000.000 |
9.865.000.000 |
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Total Inventories |
100.980.000.000 |
40.062.000.000 |
9.865.000.000 |
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Trade Receivables |
87.929.000.000 |
48.909.000.000 |
72.194.000.000 |
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Group Receivables |
0 |
0 |
0 |
|
Receivables Due after 1 year |
0 |
0 |
0 |
|
Miscellaneous Receivables |
0 |
0 |
0 |
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Total Receivables |
87.929.000.000 |
48.909.000.000 |
72.194.000.000 |
|
Cash |
16.823.000.000 |
389.000.000 |
8.881.000.000 |
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Other Current Assets |
26.090.000.000 |
5.650.000.000 |
8.332.000.000 |
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Total Current Assets |
231.822.000.000 |
95.010.000.000 |
99.272.000.000 |
|
Total Assets |
415.440.000.000 |
257.619.000.000 |
209.890.000.000 |
|
Trade Payables |
16.601.000.000 |
13.600.000.000 |
12.414.000.000 |
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Bank Liabilities |
0 |
0 |
0 |
|
Other Loans or Finance |
145.004.000.000 |
53.661.000.000 |
12.922.000.000 |
|
Group Payables |
0 |
0 |
0 |
|
Miscellaneous Liabilities |
1.432.000.000 |
2.377.000.000 |
2.416.000.000 |
|
Total Current Liabilities |
163.037.000.000 |
69.639.000.000 |
27.752.000.000 |
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Trade Payables After 1 Year |
0 |
0 |
0 |
|
Bank Liabilities After 1 Year |
0 |
0 |
0 |
|
Other Loans or Finance due after 1 year |
48.780.000.000 |
78.971.000.000 |
80.806.000.000 |
|
Group Payables After 1 Year |
0 |
0 |
0 |
|
Miscellaneous Liabilities Due After 1 Year |
0 |
0 |
0 |
|
Total Long Term Liabilities |
48.780.000.000 |
78.971.000.000 |
80.806.000.000 |
|
Total Liabilities |
211.817.000.000 |
148.610.000.000 |
108.558.000.000 |
|
Called Up Share Capital |
150.000.000.000 |
100.000.000.000 |
100.000.000.000 |
|
Share Premium |
0 |
0 |
0 |
|
Revenue Reserves |
53.623.000.000 |
9.009.000.000 |
1.332.000.000 |
|
Other Reserves |
0 |
0 |
0 |
|
Total Shareholders Equity |
203.623.000.000 |
109.009.000.000 |
101.332.000.000 |
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Other Financials |
|
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Contingent
Liabilities |
|
|
|
|
Working Capital |
68.785.000.000 |
25.371.000.000 |
71.520.000.000 |
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Net Worth |
189.308.000.000 |
94.317.000.000 |
0 |
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Ratios |
|||
|
Pre Tax Profit Margin |
16.47 |
6.26 |
4.95 |
|
Return On Capital Employed |
20.49 |
4.28 |
0.88 |
|
Return On Total Assets Employed |
12.45 |
3.12 |
0.76 |
|
Return On Net Assets Employed |
25.4 |
7.38 |
1.58 |
|
Sales / Net Working Capital |
4.57 |
5.06 |
0.45 |
|
Stock Turnover Ratio |
32.15 |
31.2 |
30.52 |
|
Debtor Days |
102.19 |
139.01 |
815.18 |
|
Creditor Days |
19.29 |
38.65 |
140.17 |
|
Current Ratio |
1.42 |
1.36 |
3.58 |
|
Liquidity Ratio Or Acid Test |
0.8 |
0.79 |
3.22 |
|
Current Debt Ratio |
0.8 |
0.64 |
0.27 |
|
Gearing |
|||
|
Equity In Percentage |
50.76 |
44.87 |
|
|
Total Debt Ratio |
1.04 |
1.36 |
1.07 |
Additional
Financials
|
|
Gross Profit |
Current
Directors
|
||||
|
Name |
Gender |
Address |
Date of Birth |
Position |
|
Phuong Thanh Mai |
Male |
|
1971-07-23 |
Chairman Director |
|
Thang Quang Duong |
Male |
|
|
Managing Director Director |
|
Tuan Thac Le |
Male |
|
|
Deputy Managing Director |
Previous
Directors
|
|
No previous directors for this company. |
Share
Capital Structure
|
|
Nominal Share Capital 150.000.000.000 |
|
Issued Share Capital 150.000.000.000 |
Shareholders
|
||
|
Shareholder |
Address |
% Shares Held |
|
Public shareholding traded via Stock Exchange |
Vietnam |
79.46 |
|
PYN FUND ELITE (NON-UCITS) |
|
11.21 |
|
SAIGON - HANOI SECURITIES JSC |
Vietnam |
9.33 |
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 66.77 |
|
|
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
: |
DIV |
|
|
|
|
Report Prepared
by : |
KET |
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.