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MIRA INFORM REPORT
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Report No. : |
508897 |
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Report Date : |
11.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
HUY TUAN JSC |
|
|
|
|
Registered Office : |
68A Group 3 Quarter 7 Bai Chay Ward, Ha Long,
Quang Ninh |
|
|
|
|
Country : |
Vietnam |
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|
|
|
Financials (as on) : |
December 2016 |
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|
|
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Date of Incorporation : |
10.06.2010 |
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|
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Com. Reg. No.: |
5701407875 |
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|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Wholesale of Other Food, including Fish,
Crustaceans and Molluscs |
|
|
|
|
No. of Employees : |
60 [2018] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
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|
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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) |
|
Vietnam |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
VIETNAM - ECONOMIC OVERVIEW
Vietnam is a densely populated developing country that has been
transitioning since 1986 from the rigidities of a centrally planned, highly
agrarian economy to a more industrial and market based economy, and it has
raised incomes substantially. In 2016 and 2017, Vietnam missed its yearly
growth target of 6.7% due to environmental issues – drought and salinization -
impacting the agricultural sector, and low oil prices affecting the extractive
sector. However, annual GDP growth reached 6.3%, reflecting strengthening
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, 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 continued to pursue other multilateral
relationships, including the Comprehensive and Progressive Agreement for the
Transpacific Partnership and 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 the recent slowdown in economic growth could test the government’s
resolve.
|
Source
: CIA |
Company
Summary
|
|
|
Business Name |
HT-JSC |
|
Country |
VIET NAM |
|
Company Registration Number |
5701407875 |
|
Main Activity Code |
4638 |
|
Main Activity Description |
Wholesale of other food, including fish,
crustaceans and molluscs |
|
Company Status |
Normal (Active) |
|
Latest Turnover Figure |
- |
|
Latest Shareholder Equity Figure |
30.203.000.000 |
Basic
Information
|
|
|
Business Name |
HT-JSC |
|
Registered Company Name |
HUY TUAN JSC |
|
Company Registration Number |
5701407875 |
|
Country |
VIET NAM |
|
VAT Registration Number |
5701407875 |
|
VAT Registration Date |
|
|
Date of Company Registration |
2010-06-10 |
|
Date of Starting Operations |
2010-06-10 |
|
Commercial Court |
|
|
Legal Form |
Joint Stock Company |
|
Type of Ownership |
|
|
Company Status |
Normal (Active) |
|
Principal Activity Code |
|
|
Principal Activity Description |
|
|
Contact Telephone Number |
[+84] 203-3623968 |
Main
Address
|
||
|
Address |
Country |
Telephone |
|
68A Group 3 Quarter 7 Bai Chay Ward, Ha Long,
Quang Ninh |
VIET NAM |
[+84] 203-3623968 |
Other
Address
|
|
No other addresses for this company. |
Previous
Address
|
|
|
Address |
Country |
|
Group 05 Quarter 07 Bai Chay Ward, Ha Long, Quang
Ninh |
VIET NAM |
|
200 Nguyen Van Cu St, Hong Hai, Ha Long, Quang Ninh |
VIET NAM |
Activities
|
|
Activity Code
Activity Description |
|
4638 Wholesale of other
food, including fish, crustaceans and molluscs |
Email
Addresses
|
Web
Pages
|
|
No web pages for this company. |
Employee
Information
|
|
Date Reported Number of Employees |
|
2018 60 |
Banker
Information
|
||
|
Banker Name |
Banker Address |
Phone Number |
|
JOINT STOCK COMMERCIAL BANK
FOR INVESTMENT
& DEVELOPMENT OF VIETNAM |
Joint Stock Commercial Bank For Investment And Development Of Vietnam - Quang Ninh |
|
Advisors
Information
|
|
No advisor information for this company. |
Miscellaneous
Information
|
|
|
Fax Number |
[+84] 203-3637568 |
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Export Countries |
Asia / Pacific, China |
|
Import Countries |
Asia / Pacific, China |
|
Additional Business Information |
Core Business: The
primary business focus
of HUY TUAN
JSC is Trading - General products. Key product
include: Frozen seafoods. Supplementary Business: In addition to the core
business, HUY TUAN
JSC also is engaged in the
following areas of business: Exporting - Natural food items, Unprocessed
(Meats, Produce or Seafood); Importing - Natural
food items, Unprocessed (Meats, Produce or Seafood). |
|
Additional Rating Information |
High Credit Qulaity: Credit can proceed with favorable &
flexible financing terms.
Proposed Credit Limit:
USD $6,600,000. Revision of Credit Limit: Annual. Risk
Index: Low. |
|
Additional Payment Information |
Selling: Type: Export
Terms: Telegraphic Transfer (T/T) - Received at time of transaction, Letter
of Credit (At- sight). Purchasing: Type: Import Terms:
Letter of Credit (At-sight), Telegraphic Transfer (T/T) - Executed at time of transaction. |
|
Additional Financial Information |
Financial Statements were prepared as at
2016.12.31, 2015.12.31 and 2014.12.31. Based on the corporate laws of
Vietnam, legal entities which are a Joint Stock Company are not required to
make public disclosure of their annual financials. Although basic financials
were obtained for reference. |
|
Number of Employees at Address |
60 |
|
Number of Employees at Group |
|
|
Number of Employees at Factory |
|
Additional
Miscellaneous Information
|
|
|
Primary Business Activity |
Trader |
|
Key Industry |
Food Products |
|
Operational Address |
68A Group 3 Quarter 7 Bai Chay Ward, Ha Long,
Quang Ninh |
|
Issuing Authority |
DEPT. OF PLANNING & INVESTMENT - Quang Ninh |
|
Legal Form - Category |
Joint Stock Company |
|
Legal Form – Abbreviation |
JSC |
|
Capital |
US$ 1,315,560 |
|
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: 5701407875 Date of Issuance:
Jun, 2010 “The supplier could get only information on year and month not day
at this time.” |
|
Domestic Sales & Purchases |
Annual Sales Analysis: Percentage International
Sales (Export): 100% Domestic Sales: 0% Annual Purchases Analysis: Percentage
Imports: 100% Local Purchases: 0% |
|
Management Details |
Personal Unique Identifier:
MI03536847 Name: Ms. Ha Hong
Nguyen Date of Birth: 1961 “The
supplier could get only information on year, not month and day at this
time.” Personal Unique Identifier:
MI04184441 Name: Mr. Tung Thanh Pham Date of Birth: 1987 “The supplier could get only information on year, not month and day at this time.” |
|
Reputation |
Reference checking for the purpose of establishing
HUY TUAN JSC's reputation within the respective industry failed to reveal any
adverse information. |
|
Nega-Scan - Adverse Data Monitoring |
Dishonored Checks, Debt, Civil Litigation,
Performance Defaults, Adverse Local Media Coverage / Adverse Filing History:
No Record Found |
|
Additional Bank Details |
Bank Name: JOINT STOCK COMMERCIAL BANK
FOR INVESTMENT & DEVELOPMENT OF VIETNAM
Global |
|
|
Identifier: 32400483 Branch: Joint Stock Commercial
Bank For Investment And Development Of Vietnam - |
|
|
Quang Ninh Branch Address: Quang Ninh SWIFT Code:
BIDVVNVX Bank Name: VIETNAM JOINT STOCK |
|
|
COMMERCIAL BANK FOR INDUSTRY
& TRADE Global Identifier: 32404058 Branch: VIETNAM JOINT STOCK |
|
|
COMMERCIAL BANK FOR INDUSTRY AND TRADE - QUANG
NINH Branch Address: Quang Ninh SWIFT |
|
|
Code: ICBVVNVX |
|
Office & Facilities |
The following information relates to the Business
Entity's office as listed above: Name: HUY TUAN JSC - HA LONG, QUANG NINH Primary Use: Office &
Administration facilities Building
Size: 200 Square meters Address:
68A Group 3 Quarter 7 Bai Chay Ward, Ha Long, Quang Ninh Country: Vietnam
Ownership of Property: Rented / Leased Status: Operational |
Primary
Products
|
|
Products
/ Materials / Services Description Activity |
|
Frozen seafoods Trading |
|
Financial Year |
2016-12 |
2015-12 |
2014-12 |
|
Number of Weeks |
52 |
52 |
52 |
|
Currency |
VND |
VND |
VND |
|
Consolidated Accounts |
No |
No |
No |
Profit
and Loss
|
|||
|
Revenue |
2.989.566.000.000 |
4.815.353.000.000 |
5.954.365.000.000 |
|
Operating Costs |
2.989.644.000.000 |
4.814.022.000.000 |
5.956.199.000.000 |
|
Operating Profit |
-78.000.000 |
1.331.000.000 |
-1.834.000.000 |
|
Wages & Salaries |
- |
- |
- |
|
Pension Costs |
- |
- |
- |
|
Depreciation |
- |
- |
- |
|
Amortisation |
- |
- |
- |
|
Financial Income |
305.000.000 |
177.000.000 |
- |
|
Financial Expenses |
- |
- |
117.000.000 |
|
Extraordinary Income |
114.000.000 |
201.000.000 |
494.000.000 |
|
Extraordinary Costs |
81.000.000 |
201.000.000 |
398.000.000 |
|
Profit before Tax |
260.000.000 |
1.508.000.000 |
-1.855.000.000 |
|
Tax |
57.000.000 |
332.000.000 |
45.000.000 |
|
Profit after Tax |
203.000.000 |
1.176.000.000 |
-1.900.000.000 |
|
Dividends |
- |
- |
- |
|
Minority Interests |
- |
- |
- |
|
Other Appropriations |
- |
- |
- |
|
Retained Profit |
203.000.000 |
1.176.000.000 |
-1.900.000.000 |
Balance
Sheet
|
|||
|
Land & Buildings |
0 |
0 |
0 |
|
Plant & Machinery |
0 |
0 |
0 |
|
Other Tangible Assets |
4.146.000.000 |
4.330.000.000 |
4.206.000.000 |
|
Total Tangible Assets |
4.146.000.000 |
4.330.000.000 |
4.206.000.000 |
|
Goodwill |
0 |
0 |
0 |
|
Other Intangible Assets |
0 |
0 |
0 |
|
Total Intangible Assets |
0 |
0 |
0 |
|
Investments |
10.000.000.000 |
10.000.000.000 |
0 |
|
Loans to Group |
0 |
0 |
0 |
|
Other Loans |
0 |
0 |
0 |
|
Miscellaneous Fixed Assets |
374.000.000 |
201.000.000 |
15.258.000.000 |
|
Total Other Fixed Assets |
10.374.000.000 |
10.201.000.000 |
15.258.000.000 |
|
Total Fixed Assets |
14.520.000.000 |
14.531.000.000 |
19.464.000.000 |
|
Raw Materials |
0 |
0 |
0 |
|
Work in Progress |
0 |
0 |
0 |
|
Finished Goods |
0 |
0 |
0 |
|
Other Inventories |
0 |
0 |
0 |
|
Total Inventories |
142.000.000 |
15.000.000 |
108.000.000 |
|
Trade Receivables |
12.030.000.000 |
6.204.000.000 |
3.643.000.000 |
|
Group Receivables |
0 |
0 |
0 |
|
Receivables Due after 1 year |
0 |
0 |
0 |
|
Miscellaneous Receivables |
0 |
0 |
0 |
|
Total Receivables |
12.030.000.000 |
6.204.000.000 |
3.643.000.000 |
|
Cash |
5.235.000.000 |
12.283.000.000 |
6.835.000.000 |
|
Other Current Assets |
0 |
4.000.000 |
67.000.000 |
|
Total Current Assets |
17.407.000.000 |
18.506.000.000 |
10.653.000.000 |
|
Total Assets |
31.927.000.000 |
33.037.000.000 |
30.117.000.000 |
|
Trade Payables |
1.706.000.000 |
578.000.000 |
1.903.000.000 |
|
Bank Liabilities |
0 |
0 |
0 |
|
Other Loans or Finance |
0 |
0 |
0 |
|
Group Payables |
0 |
0 |
0 |
|
Miscellaneous Liabilities |
-10.000.000 |
0 |
50.000.000 |
|
Total Current Liabilities |
1.696.000.000 |
578.000.000 |
1.953.000.000 |
|
Trade Payables After 1 Year |
0 |
0 |
0 |
|
Bank Liabilities After 1 Year |
0 |
0 |
0 |
|
Other Loans or Finance due after 1 year |
0 |
0 |
0 |
|
Group Payables After 1 Year |
0 |
0 |
0 |
|
Miscellaneous Liabilities Due After 1 Year |
28.000.000 |
0 |
0 |
|
Total Long Term Liabilities |
28.000.000 |
0 |
0 |
|
Total Liabilities |
1.724.000.000 |
578.000.000 |
1.953.000.000 |
|
Called Up Share Capital |
30.000.000.000 |
30.000.000.000 |
30.000.000.000 |
|
Share Premium |
0 |
0 |
0 |
|
Revenue Reserves |
203.000.000 |
2.459.000.000 |
-1.836.000.000 |
|
Other Reserves |
0 |
0 |
0 |
|
Total Shareholders Equity |
30.203.000.000 |
32.459.000.000 |
28.164.000.000 |
Other
Financials
|
|||
|
Contingent Liabilities |
|||
|
Working Capital |
15.711.000.000 |
17.928.000.000 |
8.700.000.000 |
|
Net Worth |
0 |
0 |
0 |
Ratios
|
|||
|
Pre Tax Profit Margin |
0.01 |
0.03 |
-0.03 |
|
Return On Capital Employed |
0.86 |
|
|
|
Return On Total Assets Employed |
0.81 |
4.56 |
-6.16 |
|
Return On Net Assets Employed |
0.86 |
4.65 |
-6.59 |
|
Sales / Net Working Capital |
190.28 |
268.59 |
684.41 |
|
Stock Turnover Ratio |
0 |
0 |
0 |
|
Debtor Days |
1.47 |
0.47 |
0.22 |
|
Creditor Days |
0.21 |
0.04 |
0.12 |
|
Current Ratio |
10.26 |
32.02 |
5.45 |
|
Liquidity Ratio Or Acid Test |
10.18 |
31.99 |
5.4 |
|
Current Debt Ratio |
0.06 |
0.02 |
0.07 |
|
Gearing |
|||
|
Equity In Percentage |
|||
|
Total Debt Ratio |
0.06 |
0.02 |
0.07 |
Additional
Financials
|
|
Gross Profit |
Current
Directors
|
||||
|
Name |
Gender |
Address |
Date of Birth |
Position |
|
Thai Hong Nguyen |
Male |
Vietnamese |
1966-04-25 |
Chairman Managing Director |
|
Ha Hong Nguyen |
Female |
Vietnamese |
|
Deputy Managing Director |
|
Tung Thanh Pham |
Male |
Vietnamese |
|
Chief Accountant |
Previous
Directors
|
|
No previous directors for this company. |
Share
Capital Structure
|
|
Nominal Share Capital 30.000.000.000 |
|
Issued Share Capital 30.000.000.000 |
Shareholders
|
||
|
Shareholder |
Address |
% Shares Held |
|
Mr. Thai Hong Nguyen |
Vietnam |
62.5 |
|
Mr. Chien Dinh Do |
Vietnam |
18.75 |
|
Ms. Ha Hong Nguyen |
Vietnam |
18.75 |
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 67.37 |
|
|
1 |
INR 91.38 |
|
Euro |
1 |
INR 79.89 |
|
VND |
1 |
INR 0.0030 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DNS |
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.