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MIRA
INFORM REPORT
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Report No. : |
508339 |
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Report Date : |
16.05.2018 |
IDENTIFICATION DETAILS
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Name : |
LONG THANH INVESTMENT AND TRADE DEVELOPMENT
CO LTD |
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|
|
|
Registered Office : |
46 Nguyen Binh Khiem Ka Long Ward, Mong
Cai, Quang Ninh |
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Country : |
Vietnam |
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|
|
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Financials (as on) : |
December 2016 |
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Date of Incorporation : |
16.08.2010 |
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Com. Reg. No.: |
5701423002 |
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Legal Form : |
Company Limited |
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|
|
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Line of Business : |
Non-specialised wholesale of food,
beverages and tobacco |
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No. of Employees : |
40 |
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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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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 |
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Moderately High Risk |
C1 |
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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 Summary
|
Business Name |
LONG THANH INVESTMENT AND TRADE
DEVELOPMENT CO LTD |
|
Country |
VIET NAM |
|
Company Registration Number |
5701423002 |
|
Main Activity Code |
4639 |
|
Main Activity Description |
Non-specialised wholesale of food,
beverages and tobacco |
|
Company Status |
Normal (Active) |
|
Latest Turnover Figure |
- |
|
Latest Shareholder Equity Figure |
35.089.000.000 |
Basic Information
|
Business Name |
LONG THANH INVESTMENT AND TRADE
DEVELOPMENT CO LTD |
|
Registered Company Name |
LONG THANH INVESTMENT AND TRADE
DEVELOPMENT CO LTD |
|
Company Registration Number |
5701423002 |
|
Country |
VIET NAM |
|
VAT Registration Number |
5701423002 |
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VAT Registration Date |
2010-08-16 |
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Date of Company Registration |
2010-08-17 |
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Date of Starting Operations |
2010-08-17 |
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Commercial Court |
|
|
Legal Form |
Company Limited |
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Type of Ownership |
|
|
Company Status |
Normal (Active) |
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Principal Activity Code |
|
|
Principal Activity Description |
|
|
Contact Telephone Number |
[+84] 255-8690988 |
Main Address
|
Address |
Country |
Telephone |
|
46 Nguyen Binh Khiem Ka Long
Ward, Mong Cai, Quang Ninh |
VIET NAM |
[+84] 255-8690988 |
Other Address
|
Address |
Country |
Telephone |
|
No other addresses for this
company. |
|
|
Previous Address
|
Address |
Country |
|
No previous addresses for this
company. |
|
Activities
|
Activity Code |
Activity Description |
|
4639 |
Non-specialised wholesale of food,
beverages and tobacco |
Email Addresses
2010longthanh@gmail.com
Web Pages
N/a
Employee Information
|
Date Reported |
Number of Employees |
|
|
2018 |
40 |
|
Banker Information
|
Banker Name |
Banker Address |
Phone Number |
|
BANK FOR AGRICULTURE & RURAL
DEVELOPMENT OF VIETNAM |
Quang Ninh |
|
Advisors Information
|
Auditor Name |
Solicitor Name |
|
No advisor information for this
company. |
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Miscellaneous Information
|
Fax
Number |
[+84] 225-3260182 [+84] 255-3260182 |
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Export
Countries |
Asia / Pacific, China |
|
Import
Countries |
Asia / Pacific, Hong Kong |
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Additional
Business Information |
Core Business: The primary business focus of LONG
THANH INVESTMENT AND TRADE DEVELOPMENT CO LTD is Trading - Finished products.
Key product include: Frozen food. Supplementary Business: In addition to the
core business, LONG THANH INVESTMENT AND TRADE DEVELOPMENT CO LTD also is
engaged in the following areas of business: 1. Exporting, Exporting -
Finished products, 2. Importing, Importing - Finished products. |
|
Additional
Payment Information |
Selling: Type: Export Terms: Telegraphic Transfer
(T/T) - Received at time of transaction, Letter of Credit (At-sight)
Purchasing: Type: Type Terms: Letter of Credit (At-sight), Telegraphic
Transfer (T/T) - Executed at time of transaction |
|
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 Private Company with Limited Liability are not required to make
public disclosure of their annual financials. Although basic financials were
obtained for reference. |
|
Number
of Employees at Address |
40 |
|
Number
of Employees at Group |
|
|
Number
of Employees at Factory |
|
Additional Miscellaneous
Information
|
Primary
Business Activity |
Trader |
|
Key
Industry |
Food
Products |
|
Registered
Legal Address |
46
Nguyen Binh Khiem Ka Long Ward, Mong Cai, Quang Ninh |
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Operational
Address |
122
BT02 Block 97 Bach Dang Ha Ly, Hong Bang Dist, Haiphong |
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Name
History |
N/a |
|
Issuing
Authority |
DEPT.
OF PLANNING & INVESTMENT - Quang Ninh |
|
Legal
Form - Category |
Private
Company with Limited Liability |
|
Legal
Form - Abbreviation |
CO
LTD |
|
Capital |
US$
447,974 |
|
Note |
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. |
|
Office
Contact Details |
Operating
Address: 122 BT02 Block 97 Bach Dang Ha Ly, Hong Bang Dist, Haiphong Tel:
[+84] 255-8690988 Fax: [+84] 225-3260182, [+84] 255-3260182 Email: 2010longthanh@gmail.com |
|
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: 5701423002 Date of
Issuance: 16 Aug, 2010 |
|
Domestic
Sales & Purchases |
Annual
Sales Analysis: Percentage International Sales (Export): 100% Annual
Purchases Analysis: Percentage Imports: 100% |
|
Company
Management |
Name:
Ms. Ha Thu Nguyen Date of Birth: 1992 Name: Mr. Thang Anh Pham Date of Birth:
1974 |
|
Capital
(Date: Authorized Capital -History) |
17
Aug, 2010: 3,000,000,000 11 Dec, 2013: 10,200,000,000 |
|
Reputation |
Reference
checking for the purpose of establishing LONG THANH INVESTMENT AND TRADE
DEVELOPMENT CO LTD'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. |
|
Bank
Details |
Bank
Name: BANK FOR AGRICULTURE & RURAL DEVELOPMENT OF VIETNAM Global
Identifier: P1014462 Branch: BANK FOR AGRICULTURE Branch Address: Quang Ninh
SWIFT Code: This bank does not have a SWIFT
Code |
|
Office
& Facilities |
The
following information relates to the Business Entity's office as listed
above: Name: LONG THANH INVESTMENT
AND TRADE DEVELOPMENT CO LTD - HONG BANG DIST, HAIPHONG Primary Use: Office
& Administration facilities Address: 122 BT02 Block 97 Bach Dang Ha Ly,
Hong Bang Dist, Haiphong Country: Vietnam
Status: Operational |
|
Warehousing
Facilities |
Name:
LONG THANH INVESTMENT AND TRADE DEVELOPMENT CO LTD - HAI AN DIST, HAIPHONG
Address: Binh Phu Customs Bonded Warehouse 89 Le Thanh Tong, Hai An Dist,
Haiphong Country: Vietnam Status: Operational |
|
Previous
Contact Details |
Telephone
Number: 84-31-8690988 Fax Number: 84-31-3260182 |
Primary Products
|
Products / Materials / Services
Description |
Activity |
|
Frozen food |
Trading |
Financial
|
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 |
3.892.976.000.000 |
2.963.269.000.000 |
1.426.347.000.000 |
|
Operating
Costs |
3.886.741.000.000 |
2.959.101.000.000 |
1.426.257.000.000 |
|
Operating
Profit |
6.235.000.000 |
4.168.000.000 |
90.000.000 |
|
Wages
& Salaries |
- |
- |
- |
|
Pension
Costs |
- |
- |
- |
|
Depreciation |
- |
- |
- |
|
Amortisation |
- |
- |
- |
|
Financial
Income |
10.000.000 |
3.000.000 |
139.000.000 |
|
Financial
Expenses |
3.576.000.000 |
626.000.000 |
96.000.000 |
|
Extraordinary
Income |
1.444.000.000 |
19.000.000 |
20.000.000 |
|
Extraordinary
Costs |
- |
12.000.000 |
- |
|
Profit
before Tax |
4.113.000.000 |
3.552.000.000 |
153.000.000 |
|
Tax |
823.000.000 |
660.000.000 |
34.000.000 |
|
Profit
after Tax |
3.290.000.000 |
2.892.000.000 |
119.000.000 |
|
Dividends |
- |
- |
- |
|
Minority
Interests |
- |
- |
- |
|
Other
Appropriations |
- |
- |
- |
|
Retained
Profit |
3.290.000.000 |
2.892.000.000 |
119.000.000 |
Balance
Sheet
|
Land & Buildings |
0 |
0 |
0 |
|
Plant & Machinery |
0 |
0 |
0 |
|
Other Tangible Assets |
14.721.000.000 |
1.997.000.000 |
2.202.000.000 |
|
Total Tangible Assets |
14.721.000.000 |
1.997.000.000 |
2.202.000.000 |
|
Goodwill |
0 |
0 |
0 |
|
Other Intangible Assets |
0 |
0 |
0 |
|
Total Intangible Assets |
0 |
0 |
0 |
|
Investments |
0 |
0 |
0 |
|
Loans to Group |
0 |
0 |
0 |
|
Other Loans |
0 |
0 |
0 |
|
Miscellaneous Fixed Assets |
17.426.000.000 |
17.467.000.000 |
86.000.000 |
|
Total Other Fixed Assets |
17.426.000.000 |
17.467.000.000 |
86.000.000 |
|
Total Fixed Assets |
32.147.000.000 |
19.464.000.000 |
2.288.000.000 |
|
Raw Materials |
0 |
0 |
0 |
|
Work in Progress |
0 |
0 |
0 |
|
Finished Goods |
0 |
0 |
0 |
|
Other Inventories |
0 |
0 |
0 |
|
Total Inventories |
0 |
1.000.000 |
0 |
|
Trade Receivables |
52.873.000.000 |
27.266.000.000 |
8.313.000.000 |
|
Group Receivables |
0 |
0 |
0 |
|
Receivables Due after 1 year |
0 |
0 |
0 |
|
Miscellaneous Receivables |
0 |
0 |
0 |
|
Total Receivables |
52.873.000.000 |
27.266.000.000 |
8.313.000.000 |
|
Cash |
6.655.000.000 |
1.404.000.000 |
10.311.000.000 |
|
Other Current Assets |
8.139.000.000 |
0 |
18.000.000 |
|
Total Current Assets |
67.667.000.000 |
28.671.000.000 |
18.642.000.000 |
|
Total Assets |
99.814.000.000 |
48.135.000.000 |
20.930.000.000 |
|
Trade Payables |
0 |
0 |
0 |
|
Bank Liabilities |
0 |
0 |
0 |
|
Other Loans or Finance |
53.838.000.000 |
19.920.000.000 |
11.533.000.000 |
|
Group Payables |
0 |
0 |
0 |
|
Miscellaneous Liabilities |
387.000.000 |
655.000.000 |
26.000.000 |
|
Total Current Liabilities |
54.225.000.000 |
20.575.000.000 |
11.559.000.000 |
|
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 |
10.500.000.000 |
9.516.000.000 |
0 |
|
Total Long Term Liabilities |
10.500.000.000 |
9.516.000.000 |
0 |
|
Total Liabilities |
64.725.000.000 |
30.091.000.000 |
11.559.000.000 |
|
Called Up Share Capital |
10.200.000.000 |
10.200.000.000 |
10.200.000.000 |
|
Share Premium |
0 |
0 |
0 |
|
Revenue Reserves |
5.262.000.000 |
2.841.000.000 |
-829.000.000 |
|
Other Reserves |
19.627.000.000 |
5.003.000.000 |
0 |
|
Total Shareholders Equity |
35.089.000.000 |
18.044.000.000 |
9.371.000.000 |
|
Other Financials |
|
|
|
|
Contingent Liabilities |
|
|
|
|
Working Capital |
13.442.000.000 |
8.096.000.000 |
7.083.000.000 |
|
Net Worth |
0 |
0 |
0 |
Ratios
|
Pre Tax Profit Margin |
0.11 |
0.12 |
0.01 |
|
Return On Capital Employed |
9.02 |
12.89 |
|
|
Return On Total Assets Employed |
4.12 |
7.38 |
0.73 |
|
Return On Net Assets Employed |
11.72 |
19.69 |
1.63 |
|
Sales / Net Working Capital |
289.61 |
366.02 |
201.38 |
|
Stock Turnover Ratio |
|
0 |
|
|
Debtor Days |
4.96 |
3.36 |
2.13 |
|
Creditor Days |
|
|
|
|
Current Ratio |
1.25 |
1.39 |
1.61 |
|
Liquidity Ratio Or Acid Test |
|
1.39 |
|
|
Current Debt Ratio |
1.55 |
1.14 |
1.23 |
|
Gearing |
|
|
|
|
Equity In Percentage |
|
|
|
|
Total Debt Ratio |
1.84 |
1.67 |
1.23 |
Additional
Financials
Gross
Profit
Current Directors
|
Name |
Gender |
Address |
Date of |
Position |
|
|
|
|
Birth |
|
|
Thang Anh Pham |
Male |
Vietnamese |
|
Managing Director |
|
Ha Thu Nguyen |
Female |
Vietnamese |
|
Chief Accountant |
Previous Directors
|
Name |
Gender |
Address |
Date of Birth |
Position |
Resignation Date |
|
No previous directors for this
company. |
|
|
|
|
|
Share Capital Structure
|
Nominal Share Capital |
10.200.000.000 |
|
Issued Share Capital |
|
Shareholders
|
Shareholder |
Address |
% Shares Held |
|
Ms. Nguyen Thu Thao |
Vietnam |
83.33 |
|
Mr. Thang Anh Pham |
Vietnam |
16.67 |
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 67.53 |
|
|
1 |
INR 91.49 |
|
Euro |
1 |
INR 80.53 |
|
VND |
1 |
INR 0.0029 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.