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MIRA INFORM REPORT
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Report No. : |
508529 |
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Report Date : |
18.05.2018 |
IDENTIFICATION DETAILS
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Name : |
PHU THAI IMPORT EXPORT TRADING INVESTMENT JSC |
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Registered Office : |
48 Block C Dai Kim New Urban Area Dai Kim Ward, Hoang Mai Dist, Hanoi |
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Country : |
Vietnam |
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Financials (as on) : |
December, 2016 |
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Date of Incorporation : |
26.02.2014 |
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Com. Reg. No.: |
0106466714 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
·
Manufacture of other chemical products n.e.c. ·
Wholesale of other machinery and equipment ·
Manufacture of other taps and valves |
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No. of Employees : |
20 |
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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Maximum Credit Limit : |
56,000 USD |
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Status : |
Moderate |
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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
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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 |
PHU
THAI IMPORT EXPORT TRADING INVESTMENT JSC |
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Country |
VIET
NAM |
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Company
Registration Number |
0106466714 |
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Main
Activity Code |
2059 |
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Main
Activity Description |
Manufacture
of other chemical products n.e.c. |
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Company
Status |
Normal
(Active) |
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Latest
Turnover Figure |
- |
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Latest
Shareholder Equity Figure |
20.551.000.000 |
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Credit
Limit |
56,000
USD |
Basic
Information
|
|
|
Business
Name |
PHU THAI
IMPORT EXPORT TRADING INVESTMENT JSC |
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Registered
Company Name |
PHU
THAI IMPORT EXPORT TRADING INVESTMENT JSC |
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Company
Registration Number |
0106466714 |
|
Country |
VIET
NAM |
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VAT
Registration Number |
0106466714 |
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Date
of Company Registration |
2014-02-26 |
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Date
of Starting Operations |
2014-02-26 |
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Legal
Form |
Joint
Stock Company |
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Company
Status |
Normal
(Active) |
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Contact
Telephone Number |
[+84]
24-73079968 |
Main
Address
|
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|
Address |
Country |
Telephone |
|
48 Block
C Dai Kim New Urban Area Dai Kim Ward, Hoang Mai Dist, Hanoi |
VIET
NAM |
[+84]
24-73079968 |
Other
Address
|
|
No
other addresses for this company. |
Previous
Address
|
|
No
previous addresses for this company. |
Activities
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Activity
Code |
Activity
Description |
|
2059 |
Manufacture
of other chemical products n.e.c. |
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4669 |
Wholesale
of other machinery and equipment |
|
2814 |
Manufacture
of other taps and valves |
Email
Addresses
|
Web
Pages
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Employee
Information
|
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Date Reported Number of Employees |
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2018 20 |
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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Import
Countries |
Asia
/ Pacific, Japan |
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Additional
Business Information |
Core Business The primary business focus of PHU THAI IMPORT
EXPORT TRADING INVESTMENT JSC is Trading - Finished products Key products include
: Construction materials Water clock Valves Water equipment Supplementary Business In addition to the core business, PHU THAI IMPORT EXPORT
TRADING INVESTMENT JSC also is engaged in the following
areas of business: Importing
Importing - Finished products |
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Additional
Rating Information |
Credit
Opinion :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: Type Terms Local: Cash on delivery (COD) Credit - Unsecured 30~60
days Purchasing Type
Terms Import Letter
of Credit (At-sight) Telegraphic Transfer (T/T)
- Executed at time of transaction
Local Credit - Unsecured 30~60 daysCash on delivery (COD) |
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Additional
Financial Information |
Financial
Statement Were Prepared As 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. |
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Number
of Employees at Address |
20 |
Additional
Miscellaneous Information
|
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Primary
Business Activity |
Trader |
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Registered
Legal Address |
48
Block C Dai Kim New Urban Area Dai Kim Ward, Hoang Mai Dist, Hanoi |
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Issuing
Authority |
Department
Of Planning & Investment – Hanoi |
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Legal
Form |
Joint
Stock Company |
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Capital |
US$
878,380 |
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Harmonized
Product Classification & Activity |
Product/Service
Description CodeActivity Electrical mach etc, with ind functions nesoi, parts
8543Importing, Trading Miscellaneous manufactured articles 9600Importing, Trading Other taps,
cocks, valves,
etc.8481809050 Importing, Trading |
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Domestic
Sales & Purchases |
Annual
Sales Analysis Percentage Domestic Sales 100% Annual Purchases Analysis
Percentage Local Purchases 70% Imports 30% |
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Management
Details - 1 |
Personal Unique Identifier:MI04438002 Name:Mr. Tan Van Le Date of Birth:1968, The supplier
could get only information
on year, not month and day at this time. |
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Capital |
Date
Authorized Capital - History 26 Feb, 2014 6,000,000,000 6 Apr, 2018 20,000,000,000 |
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Reputation |
Reference checking for the purpose of establishing PHU THAI IMPORT
EXPORT TRADING INVESTMENT JSC's
reputation within the respective industry failed to reveal any adverse
information. |
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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 |
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Company
Directors |
Personal
Unique Identifier : MI04438002 Name : Mr. Tan Van Le Date of Birth : 1968 |
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Office
& Facilities |
Name:Phu
thai import export trading investment jsc - hoang mai dist, hanoi Primary
use:Office & administration facilities Address: 48 block c dai kim new urban
area dai kim ward, hoang mai dist, hanoi Country:Vietnam Status:Operational |
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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. |
Primary
Products
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Products
/ Materials / Services Description |
Activity |
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Construction
materials |
Importing,
Trading |
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Valves |
Importing,
Trading |
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Water
clock |
Importing,
Trading |
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Water
equipment |
Importing,
Trading |
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Financial
Year |
2016-12 |
2015-12 |
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Number
of Weeks |
52 |
52 |
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Currency |
VND |
VND |
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Consolidated
Accounts |
No |
No |
Profit
and Loss
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||
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Revenue |
63.884.000.000 |
19.072.000.000 |
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Operating
Costs |
47.595.000.000 |
16.364.000.000 |
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Operating
Profit |
16.289.000.000 |
2.708.000.000 |
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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 |
4.000.000 |
1.000.000 |
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Financial
Expenses |
439.000.000 |
- |
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Extraordinary
Income |
200.000.000 |
- |
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Extraordinary
Costs |
6.568.000.000 |
2.101.000.000 |
|
Profit
before Tax |
9.485.000.000 |
608.000.000 |
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Tax |
1.897.000.000 |
21.000.000 |
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Profit
after Tax |
7.588.000.000 |
587.000.000 |
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Dividends |
- |
- |
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Minority
Interests |
- |
- |
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Other
Appropriations |
- |
- |
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Retained
Profit |
7.588.000.000 |
587.000.000 |
Balance
Sheet
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Land
& Buildings |
0 |
0 |
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Plant
& Machinery |
0 |
0 |
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Other
Tangible Assets |
4.191.000.000 |
964.000.000 |
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Total
Tangible Assets |
4.191.000.000 |
964.000.000 |
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Goodwill |
0 |
0 |
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Other
Intangible Assets |
0 |
0 |
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Total
Intangible Assets |
0 |
0 |
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Investments |
0 |
0 |
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Loans
to Group |
0 |
0 |
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Other
Loans |
0 |
0 |
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Miscellaneous
Fixed Assets |
0 |
280.000.000 |
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Total
Other Fixed Assets |
0 |
280.000.000 |
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Total
Fixed Assets |
4.722.000.000 |
1.244.000.000 |
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Raw
Materials |
0 |
0 |
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Work
in Progress |
0 |
0 |
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Finished
Goods |
0 |
0 |
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Other
Inventories |
5.840.000.000 |
2.011.000.000 |
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Total
Inventories |
5.840.000.000 |
2.011.000.000 |
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Trade
Receivables |
0 |
0 |
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Group
Receivables |
0 |
0 |
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Receivables
Due after 1 year |
0 |
0 |
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Miscellaneous
Receivables |
14.456.000.000 |
2.801.000.000 |
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Total
Receivables |
14.456.000.000 |
2.801.000.000 |
|
Cash |
1.109.000.000 |
1.647.000.000 |
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Other
Current Assets |
531.000.000 |
0 |
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Total
Current Assets |
21.486.000.000 |
6.555.000.000 |
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Total
Assets |
26.208.000.000 |
7.799.000.000 |
|
Trade
Payables |
2.132.000.000 |
2.293.000.000 |
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Bank
Liabilities |
0 |
0 |
|
Other
Loans or Finance |
2.450.000.000 |
2.450.000.000 |
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Group
Payables |
0 |
0 |
|
Miscellaneous
Liabilities |
1.074.000.000 |
1.072.000.000 |
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Total
Current Liabilities |
5.657.000.000 |
5.815.000.000 |
|
Trade
Payables After 1 Year |
0 |
0 |
|
Bank
Liabilities After 1 Year |
0 |
0 |
|
Other
Loans or Finance due after 1 year |
0 |
0 |
|
Group
Payables After 1 Year |
0 |
0 |
|
Miscellaneous
Liabilities Due After 1 Year |
0 |
0 |
|
Total
Long Term Liabilities |
0 |
0 |
|
Total
Liabilities |
5.657.000.000 |
5.815.000.000 |
|
Called
Up Share Capital |
20.551.000.000 |
1.984.000.000 |
|
Share
Premium |
0 |
0 |
|
Revenue
Reserves |
0 |
0 |
|
Other
Reserves |
0 |
0 |
|
Total
Shareholders Equity |
20.551.000.000 |
1.984.000.000 |
Other
Financials
|
||
|
Contingent
Liabilities |
||
|
Working
Capital |
15.829.000.000 |
740.000.000 |
|
Net
Worth |
0 |
0 |
Ratios
|
||
|
Pre
Tax Profit Margin |
14.85 |
3.19 |
|
Return
On Capital Employed |
||
|
Return
On Total Assets Employed |
36.19 |
7.8 |
|
Return
On Net Assets Employed |
46.15 |
30.65 |
|
Sales
/ Net Working Capital |
4.04 |
25.77 |
|
Stock
Turnover Ratio |
9.14 |
10.54 |
|
Debtor
Days |
||
|
Creditor
Days |
12.18 |
43.88 |
|
Current
Ratio |
3.8 |
1.13 |
|
Liquidity
Ratio Or Acid Test |
2.77 |
0.78 |
|
Current
Debt Ratio |
0.28 |
2.93 |
|
Gearing |
||
|
Equity
In Percentage |
||
|
Total
Debt Ratio |
0.28 |
2.93 |
Additional
Financials
|
|
Gross
Profit |
Current
Directors
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|||
|
Name |
Gender |
Position |
|
|
Tan
Van Le |
Male |
Managing
Director |
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Previous
Directors
|
|
No previous
directors for this company. |
Share
Capital Structure
|
|
Nominal Share
Capital 20.000.000.000 |
|
Issued Share Capital 20.000.000.000 |
Shareholders
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||
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Shareholder |
Address |
%
Shares Held |
|
Mr.
Tan Van Le |
Vietnam |
50 |
|
Ms. Kim
Dung Thi Tran |
Vietnam |
40 |
|
Undisclosed
Shareholders |
|
10 |
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 67.71 |
|
|
1 |
INR 91.89 |
|
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
: |
VIV |
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Report Prepared
by : |
DNS |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
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 |
|
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 |
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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.