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MIRA INFORM REPORT
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Report No. : |
508783 |
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Report Date : |
10.05.2018 |
IDENTIFICATION DETAILS
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Name : |
DAITHIENHA JSC |
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Registered Office : |
3 Nguyen Van Cu St Ka Long Ward, Mong Cai, Quang Ninh |
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Country : |
Viet Nam |
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Financials (as on) : |
December, 2016 |
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Date of Incorporation : |
16.04.2007 |
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Com. Reg. No.: |
5700646493 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
· Wholesale of Fruit and Vegetables ·
Non-Specialised Wholesale Trade |
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No. of Employees : |
18 |
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 : |
Satisfactory |
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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
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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 |
DAITHIENHA JSC |
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Country |
VIET NAM |
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Company Registration Number |
5700646493 |
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Main Activity Code |
4631 |
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Main Activity Description |
Wholesale of fruit and vegetables |
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Company Status |
Normal (Active) |
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Latest Turnover Figure |
- |
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Latest Shareholder Equity Figure |
30.000.000.000 |
Basic
Information
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|
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Business Name |
DAITHIENHA JSC |
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Registered Company Name |
DAITHIENHA JSC |
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Company Registration Number |
5700646493 |
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Country |
VIET NAM |
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Date of Company Registration |
2013-12-20 |
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Date of Starting Operations |
2013-12-20 |
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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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Contact Telephone Number |
[+84] 203-3772772 [+84]-933996699 |
Main
Address
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||
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Address |
Country |
Telephone |
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3 Nguyen Van Cu St Ka Long Ward, Mong Cai, Quang Ninh |
VIET NAM |
[+84] 203-3772772 [+84]-933996699 |
Other
Address
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No other addresses for this company. |
Previous
Address
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No previous addresses for this company. |
Activities
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Activity Code |
Activity Description |
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4631 |
Wholesale of fruit and vegetables |
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4690 |
Non-specialised wholesale trade |
Email
Addresses
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Web
Pages
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Employee
Information
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Date Reported Number of Employees |
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2018 18 |
Banker
Information
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Banker Name |
Banker Address |
Phone Number |
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JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM |
Mong Cai |
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Advisors
Information
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No advisor information for this company. |
Miscellaneous
Information
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Fax Number |
[+84] 203-3886258 |
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Export Countries |
Africa, Asia / Pacific, Europe, North America, Australia, China, France, India, Japan, Russia, Singapore, Tanzania, USA, United Arab Emirates |
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Import Countries |
Africa, Asia / Pacific, Europe, North America, Australia, Middle-East, India, Japan, Tanzania, USA, United Arab Emirates |
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Additional Business Information |
Core Business: The primary business focus of DAITHIENHA JSC is Trading - Finished products. Key products include: Agricultural products, Consumer goods, Frozen foods Frozen seafoods, Industrial machines. Supplementary Business: In addition to the core business, DAITHIENHA JSC also is engaged in the following areas of business: 1. Exporting, Exporting - Finished products, 2. Importing, Importing - Finished products 3. Service, Specialized professional services, including: Logistic services. |
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Additional Payment Information |
Selling: Type: Local Terms: 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: Import Terms: Letter of Credit (At-sight), Telegraphic Transfer (T/T) - Executed at time of transaction Local: 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, 31.12.15 and 31.12.14. 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 |
18 |
Additional
Miscellaneous Information
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Primary Business Activity |
Trader |
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Key Industry |
Consumer Products |
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Registered Legal Address |
3 Nguyen Van Cu St Ka Long Ward, Mong Cai, Quang Ninh |
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Issuing Authority |
DEPT. OF PLANNING & INVESTMENT - Quang Ninh |
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Capital |
US$ 1,317,420 |
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Note |
In Vietnam, when changes occur in the statutory of an existing company, a new business license number is issued which links the new changes to a new license number. Such changes have occurred with the Subject Business Entity. Accordingly, there are two different "Dates of Registration", one being the original Date of Registration, and the other being the most recent Date of issuance of the new License. Details of the various previous License dates (if available) and the corresponding License numbers, are listed in PREVIOUS BUSINESS LICENSE/S below. |
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Website Details |
Website: http://daithienha.vn Status: Normal - operational |
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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 GTGT / VAT Number: 5700646493 Date of Issuance: 18 Apr, 2007 |
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Previous Business License/S |
License Date: License No. 16 Apr, 2007: 2203000842 |
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Domestic Sales & Purchases |
Annual Sales Analysis: Percentage Domestic Sales: 50% International Sales (Export): 50% Annual Purchases Analysis: Percentage Local Purchases: 20% Imports: 80% |
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Company Management |
Management Details - 1 Personal Unique Identifier: MI04277263 Name: Ms. An Thi Nguyen Name in local language: An Thị Nguyễn Date of Birth: 1981 Management Details - 2 Personal Unique Identifier: MI04429854 Name: Ms. Hien Mai Vu Date of Birth: 1981 |
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Capital |
Date: Authorized Capital - History 16 Apr, 2007: 10,000,000,000 20 Dec, 2013: 20,000,000,000 23 Jun, 2016: 30,000,000,000 |
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Reputation |
Reference checking for the purpose of establishing DAITHIENHA JSC's reputation within the respective industry failed to reveal any adverse information. |
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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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Bank Details |
Bank Name: JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM Global Identifier: |
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32400479 Branch: JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM - MONG CAI |
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Branch Address: Mong Cai SWIFT Code: BFTVVNVX Bank Name: VIETNAM TECHNOLOGICAL & |
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COMMERCIAL JOINT STOCK BANK Global Identifier: 32408999 Branch: VIETNAM TECHNOLOGICAL Branch |
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Address: Mong Cai SWIFT Code: VTCBVNVX |
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Office & Facilities |
The following information relates to the Business Entity's office as listed above: Name: DAITHIENHA JSC - MONG CAI, QUANG NINH Primary Use: Office & Administration facilities Address: 3 Nguyen Van Cu St Ka Long Ward, Mong Cai, Quang Ninh Country: Vietnam Status: Operational |
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Company History (Date: Details) |
2007 - Apr: Incorporated as a result of merger between the three companies including BIEN BAC JSC and TRI THANH CO LTD. |
Primary
Products
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Products / Materials / Services Description |
Activity |
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Agricultural products |
Trading |
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Consumer goods |
Trading |
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Frozen foods |
Trading |
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Frozen seafoods |
Trading |
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Industrial machines |
Trading |
Financials
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Financial Year |
2016-12 |
2015-12 |
2014-12 |
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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 |
452.030.000.000 |
214.785.000.000 |
452.679.000.000 |
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Operating Costs |
449.808.000.000 |
213.777.000.000 |
450.494.000.000 |
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Operating Profit |
2.222.000.000 |
1.008.000.000 |
2.185.000.000 |
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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 |
6.489.000.000 |
691.000.000 |
608.000.000 |
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Financial Expenses |
250.000.000 |
324.000.000 |
1.275.000.000 |
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Extraordinary Income |
252.000.000 |
141.000.000 |
- |
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Extraordinary Costs |
102.000.000 |
1.000.000 |
2.000.000 |
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Profit before Tax |
8.611.000.000 |
1.515.000.000 |
1.516.000.000 |
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Tax |
1.894.000.000 |
333.000.000 |
333.000.000 |
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Profit after Tax |
6.717.000.000 |
1.182.000.000 |
1.183.000.000 |
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Dividends |
- |
- |
- |
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Minority Interests |
- |
- |
- |
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Other Appropriations |
- |
- |
- |
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Retained Profit |
6.717.000.000 |
1.182.000.000 |
1.183.000.000 |
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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 |
1.345.000.000 |
646.000.000 |
1.054.000.000 |
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Total Tangible Assets |
1.345.000.000 |
646.000.000 |
1.054.000.000 |
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Goodwill |
0 |
0 |
0 |
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Other Intangible Assets |
0 |
0 |
0 |
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Total Intangible Assets |
0 |
0 |
0 |
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Investments |
0 |
0 |
0 |
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Loans to Group |
0 |
0 |
0 |
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Other Loans |
0 |
0 |
0 |
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Miscellaneous Fixed Assets |
0 |
16.000.000 |
20.000.000 |
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Total Other Fixed Assets |
0 |
16.000.000 |
20.000.000 |
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Total Fixed Assets |
1.345.000.000 |
662.000.000 |
1.074.000.000 |
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Raw Materials |
0 |
0 |
0 |
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Work in Progress |
0 |
0 |
0 |
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Finished Goods |
0 |
0 |
0 |
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Other Inventories |
0 |
0 |
0 |
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Total Inventories |
28.065.000.000 |
7.428.000.000 |
10.150.000.000 |
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Trade Receivables |
6.225.000.000 |
18.043.000.000 |
37.095.000.000 |
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Group Receivables |
0 |
0 |
0 |
|
Receivables Due after 1 year |
0 |
0 |
0 |
|
Miscellaneous Receivables |
0 |
0 |
0 |
|
Total Receivables |
6.225.000.000 |
18.043.000.000 |
37.095.000.000 |
|
Cash |
1.447.000.000 |
1.363.000.000 |
744.000.000 |
|
Other Current Assets |
80.000.000 |
0 |
0 |
|
Total Current Assets |
35.817.000.000 |
26.834.000.000 |
47.989.000.000 |
|
Total Assets |
37.162.000.000 |
27.496.000.000 |
49.063.000.000 |
|
Trade Payables |
0 |
2.286.000.000 |
19.181.000.000 |
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Bank Liabilities |
0 |
0 |
0 |
|
Other Loans or Finance |
7.162.000.000 |
3.700.000.000 |
8.700.000.000 |
|
Group Payables |
0 |
0 |
0 |
|
Miscellaneous Liabilities |
0 |
0 |
0 |
|
Total Current Liabilities |
7.162.000.000 |
5.986.000.000 |
27.881.000.000 |
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Trade Payables After 1 Year |
0 |
0 |
0 |
|
Bank Liabilities After 1 Year |
0 |
0 |
0 |
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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 |
7.162.000.000 |
5.986.000.000 |
27.881.000.000 |
|
Called Up Share Capital |
30.000.000.000 |
20.000.000.000 |
20.000.000.000 |
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Share Premium |
0 |
0 |
0 |
|
Revenue Reserves |
0 |
1.510.000.000 |
1.182.000.000 |
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Other Reserves |
0 |
0 |
0 |
|
Total Shareholders Equity |
30.000.000.000 |
21.510.000.000 |
21.182.000.000 |
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Ratios |
|||
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Pre Tax Profit Margin |
1.9 |
0.71 |
0.33 |
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Return On Capital Employed |
|||
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Return On Total Assets Employed |
23.17 |
5.51 |
3.09 |
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Return On Net Assets Employed |
28.7 |
7.04 |
7.16 |
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Sales / Net Working Capital |
15.77 |
10.3 |
22.51 |
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Stock Turnover Ratio |
6.21 |
3.46 |
2.24 |
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Debtor Days |
5.03 |
30.66 |
29.91 |
|
Creditor Days |
|
3.88 |
15.47 |
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Current Ratio |
5 |
4.48 |
1.72 |
|
Liquidity Ratio Or Acid Test |
1.08 |
3.24 |
1.36 |
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Current Debt Ratio |
0.24 |
0.28 |
1.32 |
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Gearing |
|||
|
Equity In Percentage |
|||
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Total Debt Ratio |
0.24 |
0.28 |
1.32 |
|
Additional
Financials |
|
Gross Profit |
Current
Directors
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Name |
Gender |
Address |
Date of Birth |
Position |
|
Kien Khac Pham |
Male |
Vietnamese |
1974-11-01 |
Managing Director |
|
An Thi Nguyen |
Female |
Vietnamese |
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Chief Accountant |
|
Hien Mai Vu |
Female |
Vietnamese |
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Chief Accountant |
Previous
Directors
|
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No previous directors for this company. |
Share
Capital Structure
|
|
Nominal Share Capital 30.000.000.000 |
|
Issued Share Capital 30.000.000.000 |
Shareholders
|
||
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Shareholder |
Address |
% Shares Held |
|
Mr. Kien Khac Pham |
Vietnam |
45 |
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Undisclosed Shareholders |
|
30 |
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Mr. Trung Khac Pham |
Vietnam |
15 |
|
Ms. Hong Ngan Thi Pham |
Vietnam |
10 |
Ultimate
Holding Parent
|
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No Ultimate Holding Parent for this company. |
Immediate
Holding Parent
|
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No Immediate Holding Parent for this company. |
Subsidaries
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No subsidaries for this company. |
Affiliates
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||
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Name |
Status |
Registration Address Number |
|
TRUNG THANH TRADING JSC |
Active |
Km 2 Hung Vuong St Hong Ha Area Ninh Duong Ward, Mong Cai, Quang Ninh |
Negative
Information
|
|
No negative information for this company |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.38 |
|
|
1 |
INR 91.09 |
|
Euro |
1 |
INR 79.75 |
|
VND |
1 |
INR 0.0030 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
NIT |
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.