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MIRA INFORM REPORT
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Report No. : |
506262 |
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Report Date : |
10.05.2018 |
IDENTIFICATION DETAILS
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Name : |
NAHY TRADING SERVICES PRODUCTION CO LTD |
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Registered Office : |
679 Le Duc Tho Ward 16, Go Vap, Ho Chi Minh |
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Country : |
Vietnam |
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Financials (as on) : |
December 2016 |
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Date of Incorporation : |
27.10.2014 |
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Com. Reg. No.: |
0312987173 |
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Legal Form : |
Private Company with Limited Liability |
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Line of Business : |
Preparation and Spinning of Textile Fibres |
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No. of Employees : |
1,000 [2018] |
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 |
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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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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
Summary
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Business Name |
NAHY TRADING |
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Country |
VIET NAM |
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Company Registration Number |
0312987173 |
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Main Activity Code |
1310 |
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Main Activity Description |
Preparation and spinning of textile fibres |
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Company Status |
Normal (Active) |
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Latest Turnover Figure |
- |
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Latest Shareholder Equity Figure |
3.065.000.000 |
Basic
Information
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Business Name |
NAHY TRADING |
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Registered Company Name |
NAHY TRADING SERVICES PRODUCTION CO LTD |
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Company Registration Number |
0312987173 |
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Country |
VIET NAM |
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VAT Registration Number |
0312987173 |
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VAT Registration Date |
2014-10-27 |
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Date of Company Registration |
2014-10-27 |
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Date of Starting Operations |
2014-10-27 |
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Commercial Court |
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Legal Form |
Private Company with Limited Liability |
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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] 28-39163989 |
Main
Address
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Address |
Country |
Telephone |
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679 Le Duc Tho Ward 16, Go Vap, Ho Chi Minh |
VIET NAM |
[+84] 28-39163989 |
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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1310 Preparation and
spinning of textile fibres |
Email
Addresses
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No email for this company. |
Web
Pages
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No web pages for this company. |
Employee
Information
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Date Reported Number of Employees |
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2018 1,000 |
Banker
Information
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No banker information for this company. |
Advisors
Information
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No advisor information for this company. |
Miscellaneous
Information
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Fax Number |
N/A |
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Export Countries |
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Import Countries |
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Additional Business Information |
Core Business: The primary business focus of NAHY
TRADING SERVICES PRODUCTION CO LTD is Manufacturing - Finished products. Key
products include: Garments, Ready-made garments. An integral part of the core
business includes: Distribution. |
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Additional Rating Information |
Average Credit Quality: Credit can proceed ONLY on
strict financing terms. Revision of Credit Limit: Periodic /quarterly. Risk Index: Medium. |
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Additional Payment Information |
Selling: Local: Cash on delivery (COD), Credit - Unsecured
30~60 days. Purchasing: Local: Credit - Unsecured 30~60 days, Cash on
delivery (COD). |
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Additional Financial Information |
Financial statement were prepared as at
2016-12-01. Based on the corporate laws of Vietnam, legal entities which
are a Private
Company with Limited
Liability 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 |
1,000 |
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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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Primary Business Activity |
Manufacturer |
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Key Industry |
Garments & Accessories |
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Registered Legal Address |
679 Le Duc Tho Ward 16, Go Vap, Ho Chi Minh |
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Issuing Authority |
Department Of Planning And Investment - Ho Chi
Minh |
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Capital |
US$ 3,514,319 |
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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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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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Domestic Sales & Purchases |
Annual Sales Analysis: Domestic Sales: 100%.
Annual Purchases Analysis: Local Purchases: 100%. |
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Management Details |
Name: Ms. Thuy Dung Thi Pham, Date of Birth: 1971. |
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Capital (Date: Authorized Capital - History) |
27 Oct, 2014: 3,900,000,000; 7 Jul, 2017:
80,000,000,000. |
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Reputation |
Reference checking for the purpose
of establishing NAHY TRADING
SERVICES PRODUCTION CO LTD'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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Office & Facilities |
The following information relates to the
Business Entity's office
as listed above:
Name: NAHY TRADING SERVICES PRODUCTION CO LTD - GO
VAP, HO CHI MINH, Primary Use: Office & Administration facilities, Address: 679 Le Duc Tho Ward 16, Go Vap, Ho Chi Minh,
Country: Vietnam, Status:
Operational. |
Primary
Products
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Products / Materials / Services Description |
Activity |
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Garments |
Manufacturing |
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Ready-made garments |
Manufacturing |
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Financial Year |
2016-12 |
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Number of Weeks |
52 |
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Currency |
VND |
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Consolidated Accounts |
No |
Profit
and Loss
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Revenue |
12.133.000.000 |
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Operating Costs |
11.233.000.000 |
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Operating Profit |
900.000.000 |
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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 |
1.000.000 |
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Financial Expenses |
- |
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Extraordinary Income |
- |
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Extraordinary Costs |
1.679.000.000 |
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Profit before Tax |
-778.000.000 |
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Tax |
- |
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Profit after Tax |
-778.000.000 |
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Dividends |
- |
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Minority Interests |
- |
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Other Appropriations |
- |
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Retained Profit |
-778.000.000 |
Balance
Sheet
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Land & Buildings |
0 |
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Plant & Machinery |
0 |
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Other Tangible Assets |
177.000.000 |
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Total Tangible Assets |
177.000.000 |
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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 |
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Miscellaneous Fixed Assets |
335.000.000 |
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Total Other Fixed Assets |
335.000.000 |
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Total Fixed Assets |
512.000.000 |
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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 |
2.366.000.000 |
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Trade Receivables |
4.295.000.000 |
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Group Receivables |
0 |
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Receivables Due after 1 year |
0 |
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Miscellaneous Receivables |
0 |
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Total Receivables |
4.295.000.000 |
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Cash |
129.000.000 |
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Other Current Assets |
291.000.000 |
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Total Current Assets |
7.082.000.000 |
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Total Assets |
7.593.000.000 |
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Trade Payables |
2.836.000.000 |
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Bank Liabilities |
0 |
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Other Loans or Finance |
192.000.000 |
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Group Payables |
0 |
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Miscellaneous Liabilities |
1.500.000.000 |
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Total Current Liabilities |
4.528.000.000 |
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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 |
0 |
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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 |
0 |
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Total Liabilities |
4.528.000.000 |
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Called Up Share Capital |
3.900.000.000 |
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Share Premium |
0 |
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Revenue Reserves |
-835.000.000 |
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Other Reserves |
0 |
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Total Shareholders Equity |
3.065.000.000 |
Other
Financials
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Contingent Liabilities |
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Working Capital 2.554.000.000 |
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Net Worth 0 |
Ratios
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Pre Tax Profit Margin |
-6.41 |
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Return On Capital
Employed |
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Return On Total Assets Employed |
-10.25 |
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Return On Net Assets Employed |
-25.38 |
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Sales / Net Working Capital |
4.75 |
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Stock Turnover Ratio |
19.5 |
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Debtor Days |
129.21 |
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Creditor Days |
85.32 |
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Current Ratio |
1.56 |
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Liquidity Ratio Or Acid Test |
1.04 |
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Current Debt Ratio |
1.48 |
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Gearing |
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Equity In Percentage |
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Total Debt Ratio |
1.48 |
Additional
Financials
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|
Gross Profit |
Current
Directors
|
Name |
Gender |
Position |
|
Thuy Dung Thi Pham |
Female |
Managing Director Director |
|
Van Thi Le |
Female |
Chief Accountant |
Previous
Directors
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No previous directors for this company. |
Share
Capital Structure
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Nominal Share Capital 80.000.000.000 |
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Issued Share Capital 80.000.000.000 |
Shareholders
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||
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Shareholder |
Address |
% Shares Held |
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Ms. Thuy Dung Thi Pham |
Vietnam |
90 |
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Mr. Hieu Ngoc Pham |
Vietnam |
10 |
Group
Structure
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No group structure information for this company |
Negative
Information
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No negative information for this company |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.38 |
|
|
1 |
INR 91.09 |
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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
: |
VAR |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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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 |
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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.