MIPL-Logo

3decades

 

MIRA INFORM REPORT

 

 

Report No. :

507327

Report Date :

14.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

NAM DINH TEXTILE GARMENT JSC

 

 

Registered Office :

43 To Hieu St Ngo Quyen Ward, Nam Dinh, Nam Dinh

 

 

Country :

Vietnam

 

 

Financials (as on) :

December, 2017

 

 

Date of Incorporation :

01.01.2012

 

 

Com. Reg. No.:

0600019436

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

·         Manufacture of concrete products for construction purposes

·         Preparation and spinning of textile fibres

·         Manufacture of flat glass

·         Manufacture of ceramic tiles and flags

 

 

No. of Employees :

4,200

 

 

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

 

 

Payment Behaviour :

No Complaints

 

 

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. 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 name and Summary

 

Business Name

NATEXCO/VINATEX NAM DINH

Country

VIET NAM

Company Registration Number

0600019436

Main Activity Code

2361

Main Activity Description

Manufacture of concrete products for construction purposes

Company Status

Normal (Active)

Latest Turnover Figure

-

Latest Shareholder Equity Figure

222.508.000.000

 

 

Basic Information

 

Business Name

NATEXCO/VINATEX NAM DINH

Registered Company Name

NAM DINH TEXTILE GARMENT JSC

Company Registration Number

0600019436

Country

VIET NAM

VAT Registration Number

0600019436

VAT Registration Date

1998-09-05

Date of Company Registration

2012-01-01

Date of Starting Operations

Commercial Court

Legal Form

Joint Stock Company

Type of Ownership

Company Status

Normal (Active)

Principal Activity Code

Principal Activity Description

Contact Telephone Number

[+84] 350-3849597,[+84] 350-3849586, [+84] 350-3849542, [+84] 350-3849749

 

 

Main Address

 

Address

Country

Telephone

43 To Hieu St Ngo Quyen Ward, Nam Dinh, Nam Dinh

VIET NAM

[+84] 350-3849597,[+84] 350-

 

 

3849586, [+84] 350-3849542, [+84]

 

 

350-3849749

 

 

Other Address

 

Address

Country

 

26 Le Dai Hanh St, Hai Ba Trung Dist, Hanoi

VIET NAM

 

 

 

Previous Address

 

No previous addresses for this company.

 

 

Activities

 

Activity Code

Activity Description

2361

Manufacture of concrete products for construction purposes

1310

Preparation and spinning of textile fibres

2311

Manufacture of flat glass

2331

Manufacture of ceramic tiles and flags

1310

Preparation and spinning of textile fibres

 

 

Email Addresses

 

natexco@hn.vnn.vn

vinatexnamdinh@vnn.vn

 

 

Web Pages

 

No web pages for this company.

 

Previous Names

 

Previous Name

Date Changed from Previous Name

NAM DINH TEXTILE CO

1995-01-21

NAM DINH TEXTILE ONE MEMBER OF STATE RESPONSIBILITY LTD CO

2005-12-23

NAM DINH TEXTILE GARMENT JSC

2007-12-25

 

 

Employee Information

 

Date Reported  Number of Employees

2018     4,200

 

 

Banker Information

 

MARITIME BANK FINANCE CO LTD

 

 

Advisors Information

 

No advisor information for this company.

 

 

Miscellaneous Information

 

Fax Number

[+84] 350-3849750

Export Countries

Asia / Pacific, Europe, Middle-East, Hong Kong, Japan, Korea, South (Republic of Korea), Taiwan, Turkey

Import Countries

Asia / Pacific, North America, China, Japan, Taiwan, USA

Additional Business Information

Core Business The primary business focus of NAM DINH TEXTILE GARMENT JSC is Manufacturing Finished products. Key products include : Blouses Coats Garment products Jackets Shirts Suits Sweaters T-shirts An integral part of the core business includes: Distribution Supplementary Business In addition to the core business, NAM DINH TEXTILE GARMENT JSC also is engaged in the following areas of business: 1.

Exporting 2. Exporting - Finished products 3. Importing Importing - Raw materials

Additional Rating Information

High Credit Qulaity: Credit can proceed with favorable & flexible financing terms. Revision of Credit Limit : Annual Risk Index : Low

Additional Payment Information

Selling Type Terms Local Cash on delivery (COD) Credit - Unsecured 30~60 days Export Documents against Acceptance (D/A) Letter of Credit (At-sight) Purchasing Type Terms Import Letter of Credit (At-sight) Telegraphic Transfer (T/T) - Executed at time of transaction Local Credit - Unsecured 30~60 days Cash on delivery (COD)

Additional Financial Information

Financial Statements Were Prepared As At 2017-12-01, 2016-12-01 And 2015-12-01. 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

4,200

Number of Employees at Group

Number of Employees at Factory

 

 

Additional Miscellaneous Information

 

Registered Legal Address

43 To Hieu St Ngo Quyen Ward, Nam Dinh, Nam Dinh

Issuing Authority

Dept. Of planning & investment - nam dinh

Capital

US$ 5,971,216

Note

 

In Vietnam, when changes occur in the statutory records 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.

Primary Business Activity

Manufacturer

Primary Industry

Garments & Accessories

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 : 0600019436 Date of Issuance : 5 Sep, 1998

Previous Business License/S

License Date License No. 21 Jan, 1995 111286 23 Dec, 2005 0704000019 25 Dec, 2007 0703000948

Harmonized Product Classification & Activity

 

Product/Service Description Code Activity Coats & jackets (not of reptile leather) 4203100010 Manufacturing, Exporting Garments nesoi, knitted or crocheted 6114 Manufacturing, Exporting Men's or boys' suits, ensembles etc, knit or crocheted 6103 Manufacturing, Exporting Sweaters, pullovers, vests etc, knit or crocheted 6110 Manufacturing, Exporting T-shirts, singlets, tank tops etc, knit or crocheted 6109 Manufacturing, Exporting Textile products etc. for specific tech uses 5911 Manufacturing, Exporting Women's or girls' suits, ensemb etc, knit or crocheted 6104 Manufacturing, Exporting

Detailed Product Classification & Activity

Products / Materials / Services Description Ranking Activity Suits Primary Manufacturing, Exporting Sweaters Primary Manufacturing, Exporting T-shirts Primary Manufacturing, Exporting

Domestic Sales & Purchases

 

Annual Sales Analysis Percentage Domestic Sales 60% Annual Sales Analysis Percentage Domestic Sales 60%International Sales (Export) 40% Annual Purchases Analysis Percentage Local Purchases 60% Imports 40%

Direct / Indirect Corporate Parent Details

 

Indirect Corporate Parent : GOVERNMENT OF THE SOCIALIST REPUBLIC OF VIETNAM Global Identifier : P1823638 Legal Form Category : Government-owned Organization Country : Vietnam Operational Address

: 16 Le Hong Phong Str Ba Dinh Hanoi Primary Business Activity : Service

Brands & Trademarks

Brands & Trademarks - 1 Brands & Trademarks : NATEXCO Application Category : n/a

Company Management

 

Management Details - 1 Personal Unique Identifier : MI03523774 Name : Mr. Pham Duy Hanh Date of Birth : 1958, Management Details - 4 Personal Unique Identifier : MI03523776 Name : Mr. Khanh Ngoc Tran Date of Birth : 1960, Management Details - 5 Personal Unique Identifier : MI03815034 Name : Mr. Tuan Ngoc Vu Date of Birth : 1966

Reputation

Reference checking for the purpose of establishing NAM DINH TEXTILE GARMENT JSC's reputation within the respective industry failed to reveal any adverse information.

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

Bank Details

 

1. Bank Name : SAI GON HA NOI COMMERCIAL JOINT STOCK BANK Global Identifier : P1295387 Branch :

 

SAI GON HA NOI COMMERCIAL JOINT STOCK BANK JSC - VAN PHUC Branch Address : Van Phuc SWIFT

 

Code : SHBAVNVX 2. Bank Name : VIETNAM DEVELOPMENT BANK , THE Global Identifier : P2215949

 

Branch : VIETNAM DEVELOPMENT BANK , THE - NAM DINH, NAM DINH Branch Address : 151 Bac Ninh,

 

Nam Dinh, Nam Dinh SWIFT Code : This bank does not have a SWIFT Code 2. Bank Name : VIETNAM JOINT

 

STOCK COMMERCIAL BANK FOR INDUSTRY & TRADE Global Identifier : 32404058 Branch : VIETNAM

 

JOINT STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE - NAM DINH Branch Address : 108 Tran

 

Hung Dao St, Hoan Kiem Dist, Hanoi SWIFT Code : ICBVVNVX

Local Branches & Management

Branch : NAM DINH TEXTILE GARMENT JSC - HAI BA TRUNG DIST, HANOI

Company History

 

Date Details 2005 - Dec Changed its Legal structure from Government enterprise to Limited liability company. 2007 - Dec Changed its Legal structure from Limited liability company to Joint stock company.

Quality Accreditation

Quality Accreditation Listings Name Accreditation Category 1 INTERNATIONAL STANDARDS ORGANIZATION (ISO) 2000:2008 2 INTERNATIONAL STANDARDS ORGANIZATION (ISO) 9002:2000

Real Estate Ownership

 

The following property / ies are owned by NAM DINH TEXTILE GARMENT JSC : Property Name : NAM DINH TEXTILE GARMENT JSC - NAM DINH, NAM DINH Type of Property : Office & Administration Address : 43 To Hieu St Ngo Quyen Ward, Nam Dinh, Nam Dinh Office Size : 300,000 Square meters

 

 

Primary Products

 

Products / Materials / Services Description

Activity

Blouses

Manufacturing, Exporting

Coats

Manufacturing, Exporting

Garment products

Manufacturing, Exporting

Jackets

Manufacturing, Exporting

Shirts

Manufacturing, Exporting

 

Financial Year

2017-12

2016-12

2015-12

Number of Weeks

52

52

52

Currency

VND

VND

VND

Consolidated Accounts

No

No

No

 

 

Profit and Loss

 

Revenue

844.110.000.000

753.244.000.000

779.383.000.000

Operating Costs

773.441.000.000

681.951.000.000

706.623.000.000

Operating Profit

70.669.000.000

71.293.000.000

72.760.000.000

Wages & Salaries

-

-

-

Pension Costs

-

-

-

Depreciation

-

-

-

Amortisation

-

-

-

Financial Income

10.911.000.000

10.723.000.000

10.057.000.000

Financial Expenses

35.937.000.000

35.304.000.000

29.905.000.000

Extraordinary Income

36.647.000.000

24.273.000.000

3.335.000.000

Extraordinary Costs

58.282.000.000

59.322.000.000

34.409.000.000

Profit before Tax

46.775.000.000

40.533.000.000

22.696.000.000

Tax

7.938.000.000

5.234.000.000

3.967.000.000

Profit after Tax

38.837.000.000

35.299.000.000

18.729.000.000

Dividends

-

-

-

Minority Interests

-

-

-

Other Appropriations

-

-

-

Retained Profit

38.837.000.000

35.299.000.000

18.729.000.000

 

 

Balance Sheet

 

Land & Buildings

0

0

0

Plant & Machinery

0

0

0

Other Tangible Assets

370.811.000.000

242.179.000.000

210.080.000.000

Total Tangible Assets

370.811.000.000

242.179.000.000

210.080.000.000

Goodwill

0

0

0

Other Intangible Assets

504.000.000

567.000.000

0

Total Intangible Assets

504.000.000

567.000.000

0

Investments

8.882.000.000

7.470.000.000

7.838.000.000

Loans to Group

0

0

0

Other Loans

0

0

0

Miscellaneous Fixed Assets

357.483.000.000

173.779.000.000

135.703.000.000

Total Other Fixed Assets

366.365.000.000

181.249.000.000

143.541.000.000

Total Fixed Assets

756.117.000.000

447.585.000.000

365.611.000.000

Raw Materials

0

0

0

Work in Progress

0

0

0

Finished Goods

0

0

0

Other Inventories

243.033.000.000

263.695.000.000

269.288.000.000

Total Inventories

243.033.000.000

263.695.000.000

269.288.000.000

Trade Receivables

156.298.000.000

153.790.000.000

120.397.000.000

Group Receivables

0

0

0

Receivables Due after 1 year

0

0

0

Miscellaneous Receivables

0

0

0

Total Receivables

156.298.000.000

153.790.000.000

120.397.000.000

Cash

32.959.000.000

12.332.000.000

11.007.000.000

Other Current Assets

109.438.000.000

144.983.000.000

152.290.000.000

Total Current Assets

536.766.000.000

558.667.000.000

552.298.000.000

Total Assets

1.292.883.000.000

1.006.252.000.000

917.909.000.000

Trade Payables

164.329.000.000

131.201.000.000

99.973.000.000

Bank Liabilities

0

0

0

Other Loans or Finance

357.373.000.000

399.851.000.000

410.983.000.000

Group Payables

0

0

0

Miscellaneous Liabilities

31.617.000.000

35.559.000.000

92.827.000.000

Total Current Liabilities

556.546.000.000

569.184.000.000

606.676.000.000

Trade Payables After 1 Year

0

0

0

Bank Liabilities After 1 Year

0

0

0

Other Loans or Finance due after 1 year

452.648.000.000

165.258.000.000

143.196.000.000

Group Payables After 1 Year

0

0

0

Miscellaneous Liabilities Due After 1 Year

61.181.000.000

78.359.000.000

1.283.000.000

Total Long Term Liabilities

513.829.000.000

243.617.000.000

144.479.000.000

Total Liabilities

1.070.375.000.000

812.801.000.000

751.155.000.000

Called Up Share Capital

135.988.000.000

135.988.000.000

135.988.000.000

Share Premium

0

0

0

Revenue Reserves

48.020.000.000

29.762.000.000

4.809.000.000

Other Reserves

38.500.000.000

27.701.000.000

25.957.000.000

Total Shareholders Equity

222.508.000.000

193.451.000.000

166.754.000.000

 

 

Other Financials

 

Contingent Liabilities

Working Capital

-19.780.000.000

-10.517.000.000

-54.378.000.000

Net Worth

222.004.000.000

192.884.000.000

0

 

 

Ratios

 

Pre Tax Profit Margin

5.54

5.38

2.91

Return On Capital Employed

6.35

9.27

7.29

Return On Total Assets Employed

3.62

4.03

2.47

Return On Net Assets Employed

21.02

20.95

13.61

Sales / Net Working Capital

-42.67

-71.62

-14.33

Stock Turnover Ratio

28.79

35.01

34.55

Debtor Days

67.58

74.52

56.38

Creditor Days

71.06

63.58

46.82

Current Ratio

0.96

0.98

0.91

Liquidity Ratio Or Acid Test

0.53

0.52

0.47

Current Debt Ratio

2.5

2.94

3.64

Gearing

Equity In Percentage

17.22

19.24

 

Total Debt Ratio

4.81

4.2

4.5

 

 

Additional Financials

 

Gross Profit

 

 

Current Directors

 

Name

Gender

Position

 

Mieng Van Nguyen

Male

Chairman Managing Director

 

Pham Duy Hanh

Male

Secretary

 

Vu Xuan Nguyen

Male

Assist. Managing Director

 

Khanh Ngoc Tran

Male

Assist. Managing Director

 

Tuan Ngoc Vu

Male

Chief Accountant

 

 

 

Previous Directors

 

No previous directors for this company.

 

 

Share Capital Structure

 

Nominal Share Capital

Issued Share Capital

 

 

Shareholders

 

Shareholder

% Shares Held

 

VIETNAM NATIONAL TEXTILE AND GARMENT GROUP

53.67

 

Undisclosed Shareholders

46.33

 

 

 

Ultimate Holding Parent

 

No Ultimate Holding Parent for this company.

 

 

Immediate Holding Parent

 

Name

Status

Registration Address Number

VIETNAM NATIONAL TEXTILE AND GARMENT GROUP

Active

Sentinel Place Bldg 41A Ly Thai To St Hoan Kiem Dist Hanoi

 

 

Subsidaries

 

No subsidaries for this company.

 

 

Affiliates

 

No affiliates for this company.

 

 

Negative Information

 

No negative information for this company


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

INR 67.22

UK Pound

1

INR 90.87

Euro

1

INR 80.87

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.