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MIRA INFORM REPORT
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Report No. : |
504986 |
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Report Date : |
10.05.2018 |
IDENTIFICATION DETAILS
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Name : |
HAI PHONG TRADING CONSTRUCTION NO 5 JSC |
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Registered Office : |
22 Vo Thi Sau St May To Ward, Ngo Quyen Dist, Hai Phong |
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Country : |
Vietnam |
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Financials (as on) : |
December 2016 |
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Date of Incorporation : |
27.12.1999 |
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Com. Reg. No.: |
0200375711 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Wholesale of wood, construction materials
and sanitary equipment |
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No. of Employees : |
60 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
|
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
|
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.
|
Source
: CIA |
Company Summary
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Business Name |
VIETRACIMEX HAI PHONG |
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Country |
VIET NAM |
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Company Registration Number |
0200375711 |
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Main Activity Code |
4673 |
|
Main Activity Description |
Wholesale of wood, construction
materials and sanitary equipment |
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Company Status |
Normal (Active) |
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Latest Turnover Figure |
- |
|
Latest Shareholder Equity Figure |
14.699.000.000 |
Basic
Information
|
Business Name |
VIETRACIMEX HAI PHONG |
|
Registered Company Name |
HAI PHONG TRADING CONSTRUCTION NO
5 JSC |
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Company Registration Number |
0200375711 |
|
Country |
VIET NAM |
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VAT Registration Number |
0200375711 |
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VAT Registration Date |
2000-01-19 |
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Date of Company Registration |
2010-10-17 |
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Date of Starting Operations |
2010-10-17 |
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Commercial Court |
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Legal Form |
Joint Stock Company |
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Type of Ownership |
Registered ownership by Subject
Business Entity |
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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] 225-3836681, [+84] 225-3551237 |
Main
Address
|
Address |
Country |
|
Telephone |
|
22 Vo Thi Sau St May To
Ward, Ngo Quyen Dist, Hai Phong |
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VIET NAM |
[+84] 225-3836681, [+84] 225-3551237 |
Other
Address
|
Address |
Country |
Telephone |
|
No other addresses for this
company. |
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Previous
Address
|
Address |
Country |
|
No previous addresses for this
company. |
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Activities
|
Activity Code |
Activity Description |
|
4673 |
Wholesale of wood, construction
materials and sanitary equipment |
Email
Addresses
vietracimexhp@hn.vnn.vn info@vietracimexhp.com
Web
Pages
http://www.vietracimex.com
Employee
Information
|
Date Reported |
Number of Employees |
|
2018 |
60 |
Banker
Information
|
Banker Name |
Banker Address |
Phone Number |
|
JOINT STOCK COMMERCIAL BANK FOR
FOREIGN TRADE OF VIETNAM |
11 Hoang Dieu St Minh Khai,
Hai Phong |
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Advisors
Information
|
Auditor Name |
Solicitor Name |
|
No advisor information for this
company. |
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Miscellaneous
Information
|
Fax
Number |
[+84]
225-3836101, [+84] 225-3552450 |
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Export
Countries |
|
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Import
Countries |
Asia
/ Pacific; Middle-East; Iran; Singapore |
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Additional
Business Information |
Core
Business: The primary business focus of HAI PHONG TRADING CONSTRUCTION NO 5
JSC is Trading - Finished
products. Key products include: Construction equipment; Construction
materials; Asphalt mixtures; Supplementary
Business: In addition to the core business, HAI PHONG TRADING CONSTRUCTION NO
5 JSC also is engaged in the following areas of business: Importing;
Importing - Finished products ; Service: Specialized professional services,
including: Equipment rental. |
|
Additional
Payment Information |
Selling
Type: Terms Local: Cash on delivery (COD); Credit - Secured with Post-dated
checks 30~60 days. Purchasing Type: Terms Import: Letter of Credit
(At-sight); Telegraphic Transfer (T/T) - Executed at time of transaction.
Local: Credit - Secured with Post-dated checks 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. |
|
Number
of Employees at Address |
60 |
|
Number
of Employees at Group |
|
|
Number
of Employees at Factory |
|
Additional Miscellaneous Information
|
Primary
Business Activity |
Trader |
|
Key
Industry |
Construction
& Construction Materials |
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Registered
Legal Address |
22
Vo Thi Sau St May To Ward, Ngo Quyen Dist, Hai Phong |
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Issuing
Authority |
DEPT.
OF PLANNING & INVESTMENT - Hai Phong |
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Legal
Form Category |
Joint
Stock Company |
|
Legal
Form Abbreviation |
JSC |
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Operational
Status of Business |
Normal |
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Capital |
US$
558,586 |
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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. |
|
Tax
Issuing Authority |
MINISTRY
OF FINANCE |
|
Acronym |
GTGT/VAT |
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Previous
Business License |
License
Date: License No. n/a; 112187; 27 Dec, 1999: 4927/QD-BGTVT ; 5 Jan, 2006:
0203001990. |
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Domestic
Sales and Purchases (Annual Sales Analysis: Percentage) |
Domestic
Sales: 100%; (Annual Purchases Analysis: Percentage): Local Purchases: 60%;
Imports: 40%. |
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Reputation |
Reference
checking for the purpose of establishing HAI PHONG TRADING CONSTRUCTION NO 5
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: MILITARY COMMERCIAL JOINT STOCK BANK; Global Identifier: P0387295;
Branch: MILITARY COMMERCIAL JOINT STOCK BANK - HAI PHONG; Branch Address: Hai
Phong; SWIFT Code: MSCBVNVX; Bank Name: VIETNAM BANK FOR AGRICULTURE &
RURAL DEVELOPMENT; Global Identifier: 32408794; Branch: VIETNAM BANK FOR
AGRICULTURE; Branch Address: Hanoi; SWIFT Code : VBAAVNVX. |
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Local
Branches and Management |
Branch:
HAI PHONG TRADING CONSTRUCTION NO 5 JSC - HAI BA TRUNG DIST, HANOI; Branch
Address: 201 Minh Khai St, Hai Ba Trung Dist, Hanoi; Branch: HAI PHONG
TRADING CONSTRUCTION NO 5 JSC -NGO QUYEN DIST, HAIPHONG; Branch Address:
Customs Bonded Warehouse 6 Nguyen Trai S, Ngo Quyen Dist,
Haiphong. |
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Office
and Facilities |
Name:
HAI PHONG TRADING CONSTRUCTION NO 5 JSC - NGO QUYEN DIST, HAI PHONG; Primary
Use: Office & Administration facilities Building Size: 1,000 Square
meters; Address: 22 Vo Thi Sau St May To Ward, Ngo Quyen Dist, Hai Phong;
Country: Vietnam; Ownership of Property: Rented / Leased Status: Operational. |
|
Warehousing
Facilities |
Name:HAI
PHONG TRADING CONSTRUCTION NO 5 JSC - NGO QUYEN DIST, HAIPHONG; Address: 6
Nguyen Trai St, Ngo Quyen Dist, Haiphong; Country: Vietnam; Status:
Operational. |
|
Previous
Contact Details |
Telephone
Number: 84-31-3551237; Telephone Number: 84-31-3836681 ; Fax Number:
84-31-3552450; Fax Number: 84-31-3836101; Telephone Number: 84-31-3826854; |
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Approved
Signatures |
Name:
Mr. Dung Tuan Le. |
Primary Products
|
Products
/ Materials / Services Description |
Activity |
|
Asphalt
mixtures |
Importing,
Trading |
|
Construction
equipment |
Importing,
Trading |
|
Construction
materials |
Importing,
Trading |
Financial
|
Financial Year |
2016-12 |
|
Number of Weeks |
52 |
|
Currency |
VND |
|
Consolidated Accounts |
No |
Profit
and Loss
|
Revenue |
85.381.000.000 |
|
Operating Costs |
66.719.000.000 |
|
Operating Profit |
18.662.000.000 |
|
Wages & Salaries |
- |
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Pension Costs |
- |
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Depreciation |
- |
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Amortisation |
- |
|
Financial Income |
317.000.000 |
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Financial Expenses |
1.688.000.000 |
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Extraordinary Income |
- |
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Extraordinary Costs |
16.125.000.000 |
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Profit before Tax |
1.165.000.000 |
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Tax |
233.000.000 |
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Profit after Tax |
932.000.000 |
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Dividends |
- |
|
Minority Interests |
- |
|
Other Appropriations |
- |
|
Retained Profit |
932.000.000 |
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 |
1.104.000.000 |
|
Goodwill |
0 |
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Other Intangible Assets |
0 |
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Total Intangible Assets |
0 |
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Investments |
0 |
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Loans to Group |
0 |
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Other Loans |
0 |
|
Miscellaneous Fixed Assets |
0 |
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Total Other Fixed Assets |
0 |
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Total Fixed Assets |
1.104.000.000 |
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Raw Materials |
0 |
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Work in Progress |
0 |
|
Finished Goods |
0 |
|
Other Inventories |
0 |
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Total Inventories |
1.888.000.000 |
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Trade Receivables |
26.532.000.000 |
|
Group Receivables |
0 |
|
Receivables Due after 1 year |
0 |
|
Miscellaneous Receivables |
0 |
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Total Receivables |
26.532.000.000 |
|
Cash |
5.623.000.000 |
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Other Current Assets |
0 |
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Total Current Assets |
34.044.000.000 |
|
Total Assets |
35.148.000.000 |
|
Trade Payables |
178.000.000 |
|
Bank Liabilities |
0 |
|
Other Loans or Finance |
5.400.000.000 |
|
Group Payables |
0 |
|
Miscellaneous Liabilities |
14.871.000.000 |
|
Total Current Liabilities |
20.449.000.000 |
|
Trade Payables After 1 Year |
0 |
|
Bank Liabilities After 1 Year |
0 |
|
Other Loans or Finance due
after 1 year |
0 |
|
Group Payables After 1 Year |
0 |
|
Miscellaneous Liabilities Due After
1 Year |
0 |
|
Total Long Term Liabilities |
0 |
|
Total Liabilities |
20.449.000.000 |
|
Called Up Share Capital |
12.722.000.000 |
|
Share Premium |
0 |
|
Revenue Reserves |
1.282.000.000 |
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Other Reserves |
695.000.000 |
|
Total Shareholders Equity |
14.699.000.000 |
Other Financials
|
Contingent Liabilities |
|
|
Working Capital |
13.595.000.000 |
|
Net Worth |
0 |
Ratios
|
Pre Tax Profit Margin |
1.36 |
|
Return On Capital Employed |
|
|
Return On Total Assets Employed |
3.31 |
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Return On Net Assets Employed |
7.93 |
|
Sales / Net Working Capital |
6.28 |
|
Stock Turnover Ratio |
2.21 |
|
Debtor Days |
113.42 |
|
Creditor Days |
0.76 |
|
Current Ratio |
1.66 |
|
Liquidity Ratio Or Acid Test |
1.57 |
|
Current Debt Ratio |
1.39 |
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Gearing |
|
|
Equity In Percentage |
|
|
Total Debt Ratio |
1.39 |
Additional Financials
|
Gross Profit |
Current
Directors
|
Name |
Gender |
Address |
Date of |
Position |
|
|
|
|
Birth |
|
|
Dung Tuan Le |
Male |
|
|
Chairman |
|
|
|
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|
Legal Representative |
|
Le Van Hoan |
Male |
|
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Managing Director |
|
Phan To Quang |
Male |
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Deputy Managing Director |
|
Tran Hung Thang |
Male |
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Deputy Managing Director |
|
Bui Hong Toan |
Male |
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Deputy Managing Director |
|
Bui Thi Bao Van |
Male |
|
|
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Previous
Directors
|
Name |
Gender |
Address |
Date of Birth |
Position |
Resignation Date |
|
No previous directors for this
company. |
|||||
Share
Capital Structure
|
Nominal Share Capital |
12.720.000.000 |
|
Issued Share Capital |
12.720.000.000 |
Shareholders
|
Shareholder |
Address |
% Shares Held |
|
No Shareholders for this company. |
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Ultimate
Holding Parent
|
Name |
Type |
OfficeType |
Status |
RegistrationNumber |
VatNumber |
Address |
PhoneNumber |
|
No Ultimate Holding Parent for
this company. |
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Immediate
Holding Parent
|
Name |
Status |
Registration Number |
Address |
|
No Immediate Holding Parent for
this company. |
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|
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Subsidaries
|
Name |
Status |
Registration Number |
Address |
|
HANOI BRANCH OF HAI PHONG
TRADING CONSTRUCTION |
Active |
P3156919 |
201 Minh Khai St, Hai Ba
Trung Dist, Hanoi NO 5 JSC |
Affiliates
|
Name |
Status |
Registration Number |
Address |
|
No affiliates for this company. |
|
|
|
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
: |
PRI |
|
|
|
|
Report Prepared
by : |
TRU |
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.