|
|
|
MIRA INFORM REPORT
|
Report No. : |
510756 |
|
Report Date : |
26.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
HERBS N SPICES INTERNATIONAL CO LTD |
|
|
|
|
Registered Office : |
P7-0615 P7 Park Hill Times City
Hanoi 458 Minh Khai St, Hai Ba Trung Dist, Hanoi |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
December, 2016 |
|
|
|
|
Date of Incorporation : |
16.02.2016 |
|
|
|
|
Com. Reg. No.: |
0107327495 |
|
|
|
|
Legal Form : |
Private Company with Limited Liability |
|
|
|
|
Line of Business : |
Subject is engaged in Manufacture of homogenised
food preparations and dietetic food. |
|
|
|
|
No. of Employees : |
10 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
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 |
HERBS
N SPICES INT |
|
Country |
VIET
NAM |
|
Company
Registration Number |
0107327495 |
|
Main
Activity Code |
1086 |
|
Main
Activity Description |
Manufacture
of homogenised food preparations and dietetic food |
|
Company
Status |
Normal
(Active) |
|
Latest
Turnover Figure |
- |
|
Latest
Shareholder Equity Figure |
3.411.000.000 |
Basic
Information
|
|
|
Business
Name |
HERBS
N SPICES INT |
|
Registered
Company Name |
HERBS
N SPICES INTERNATIONAL CO LTD |
|
Company
Registration Number |
0107327495 |
|
Country |
VIET
NAM |
|
VAT
Registration Number |
0107327495 |
|
VAT
Registration Date |
2016-02-16 |
|
Date
of Company Registration |
2016-02-16 |
|
Date
of Starting Operations |
2016-02-16 |
|
Legal
Form |
Private
Company with Limited Liability |
|
Company
Status |
Normal
(Active) |
|
Contact
Telephone Number |
[+84]
24-71093838 [+84] 24-66844141 |
Main
Address
|
||
|
Address |
Country |
Telephone |
|
P7-0615 P7 Park Hill Times City
Hanoi 458 Minh Khai St, Hai Ba Trung Dist, Hanoi |
VIET
NAM |
[+84]
24-71093838 [+84] 24- 66844141 |
Other
Address
|
|
No
other addresses for this company. |
Previous
Address
|
|
Address Country |
|
27 28 Lot B Cong Vi (6 Nguyen
Van Ngoc) Cong Vi Ward, Ba Dinh Dist, VIET NAM
Hanoi |
Activities
|
|
|
Activity
Code |
Activity
Description |
|
1086 |
Manufacture
of homogenised food preparations and dietetic food |
|
1089 |
Manufacture
of other food products n.e.c. |
Email
Addresses
|
Web
Pages
|
Employee
Information
|
|
Date Reported Number of Employees |
|
2018 10 |
Banker
Information
|
|
No
banker information for this company. |
Advisors
Information
|
|
No
advisor information for this company. |
Miscellaneous
Information
|
|
|
Fax
Number |
[+84]
24-71068899 |
|
Export
Countries |
Asia
/ Pacific, Middle-East, North America, South America, India, USA |
|
Additional
Business Information |
Core
Business The primary business focus of HERBS N SPICES INTERNATIONAL CO LTD is
Trading - Finished products. Key products include : Cassia Cinnamon Desiccated
coconut Herbs Pepper Spices Star anise Tea White pepper Supplementary
Business In addition to the core business, HERBS N SPICES INTERNATIONAL CO
LTD also is engaged in the following areas of business: Exporting- Finished
products |
|
Additional
Payment Information |
Selling
Type Terms Local Cash on delivery (COD)Credit - Unsecured 30~60 days Export
Telegraphic Transfer (T/T) - Received at time of transaction Letter of Credit
(At-sight) Purchasing Type Terms Local Credit - Unsecured 30~60 days Cash on
delivery (COD) |
|
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. |
|
Number
of Employees at Address |
10 |
Additional
Miscellaneous Information
|
|
|
Primary
Business Activity |
Trader |
|
Registered
Legal Address |
Rm 2306,
23Fl ICON 4 Bldg 243A De La Thanh St, Dong Da, Hanoi |
|
Issuing
Authority |
Department
Of Planning & Investment - Hanoi |
|
Legal
Form |
Company
Limited |
|
Capital |
US$
144,368 |
|
Harmonized
Product Classification & Activity |
Product/Service
Description Code Activity Black pepper 3301301020 Trading, Exporting Cinnamon
and cinnamon-tree flowers 0906
Trading, Exporting Cinnamon and cinnamon-tree flowers, crushed or ground
0906200000 Trading, Exporting Coconuts, brazil nuts & cashew nuts, fresh
or dry 0801 Trading, Exporting Coconuts, other than
dessicated 0801190000 Trading, Exporting Coffee, tea,
mate & spices
0900 Trading, Exporting Herbal
teas and herbal
infusions comprising mixed
herbs 2106909987 Trading, Exporting Pepper of the genus piper
(black and white),
neither crushed nor ground 0904110000 Trading, Exporting Pepper
of the genus piper, neither crushed nor ground, white 0904110040
Trading, Exporting Pepper, genus piper;
genus capsicum or pimenta 0904 Trading, Exporting |
|
Detailed
Product Classification & Activity |
Products
/ Materials / Services Description Ranking Activity Spices Primary Trading, Exporting Star anise Primary Trading, Exporting Tea Primary
Trading, Exporting White pepper Primary Trading, Exporting |
|
Domestic
Sales & Purchases |
Annual
Sales Analysis Percentage Domestic Sales 20% International Sales (Export) 80%
Annual Purchases Analysis Percentage Local Purchases 100% |
|
Reputation |
Due
to the recent incorporation of the herbs n spices international co ltd, and
the relatively small nature of its business, no meaningful points of
reference in terms of reputation within the respective industry was possible. |
|
Nega-scan
- adverse data monitoring |
Dishonored
checks, Debt, Civil litigation, Performance default, Adverse local media
coverage / adverse filing history No record found |
|
Shareholders |
Total
number of shareholders:1 Total number of shares:n/a |
|
Office
& Facilities |
The
following information relates to the business entity's office as listed above:
Name:Herbs n spices international co ltd - hai ba trung dist, hanoi Primary
use:Office & administration facilities Address :P7-0615 p7 park hill
times city hanoi 458 minh khai st, hai ba trung dist, hanoi Country :Vietnam
Status:Operational |
|
Key Industry |
Food
Products |
|
Tax
/ VAT Details |
Tax Issuing Authority: MINISTRY OF FINANCE, Local Name Used: Gia
Trj Gia Tang (Value Added Tax),
Acronym: GTGT / VAT. |
Primary
Products
|
|
|
Products
/ Materials / Services Description |
Activity |
|
Cassia |
Trading,
Exporting |
|
Cinnamon |
Trading,
Exporting |
|
Desiccated
coconut |
Trading,
Exporting |
|
Herbs |
Trading,
Exporting |
|
Pepper |
Trading,
Exporting |
|
Financial
Year |
2016-12 |
|
Number
of Weeks |
52 |
|
Currency |
VND |
|
Consolidated
Accounts |
No |
Profit
and Loss
|
|
|
Revenue |
26.427.000.000 |
|
Operating
Costs |
24.101.000.000 |
|
Operating
Profit |
2.326.000.000 |
|
Wages
& Salaries |
- |
|
Pension
Costs |
- |
|
Depreciation |
- |
|
Amortisation |
- |
|
Financial
Income |
92.000.000 |
|
Financial
Expenses |
124.000.000 |
|
Extraordinary
Income |
- |
|
Extraordinary
Costs |
2.173.000.000 |
|
Profit
before Tax |
121.000.000 |
|
Tax |
- |
|
Profit
after Tax |
121.000.000 |
|
Dividends |
- |
|
Minority
Interests |
- |
|
Other
Appropriations |
- |
|
Retained
Profit |
121.000.000 |
Balance
Sheet
|
|
|
Land
& Buildings |
0 |
|
Plant
& Machinery |
0 |
|
Other
Tangible Assets |
0 |
|
Total
Tangible Assets |
0 |
|
Goodwill |
0 |
|
Other
Intangible Assets |
0 |
|
Total
Intangible Assets |
0 |
|
Investments |
0 |
|
Loans
to Group |
0 |
|
Other
Loans |
0 |
|
Miscellaneous
Fixed Assets |
6.000.000 |
|
Total
Other Fixed Assets |
6.000.000 |
|
Total
Fixed Assets |
6.000.000 |
|
Raw
Materials |
0 |
|
Work
in Progress |
0 |
|
Finished
Goods |
0 |
|
Other
Inventories |
2.652.000.000 |
|
Total
Inventories |
2.652.000.000 |
|
Trade
Receivables |
0 |
|
Group
Receivables |
0 |
|
Receivables
Due after 1 year |
0 |
|
Miscellaneous
Receivables |
5.725.000.000 |
|
Total
Receivables |
5.725.000.000 |
|
Cash |
1.006.000.000 |
|
Other
Current Assets |
179.000.000 |
|
Total
Current Assets |
9.562.000.000 |
|
Total
Assets |
9.568.000.000 |
|
Trade
Payables |
694.000.000 |
|
Bank
Liabilities |
0 |
|
Other
Loans or Finance |
619.000.000 |
|
Group
Payables |
0 |
|
Miscellaneous
Liabilities |
4.844.000.000 |
|
Total
Current Liabilities |
6.157.000.000 |
|
Trade
Payables After 1 Year |
0 |
|
Bank
Liabilities After 1 Year |
0 |
|
Other
Loans or Finance due after 1 year |
0 |
|
Group
Payables After 1 Year |
0 |
|
Miscellaneous
Liabilities Due After 1 Year |
0 |
|
Total
Long Term Liabilities |
0 |
|
Total
Liabilities |
6.157.000.000 |
|
Called
Up Share Capital |
0 |
|
Share
Premium |
0 |
|
Revenue
Reserves |
121.000.000 |
|
Other
Reserves |
3.290.000.000 |
|
Total
Shareholders Equity |
3.411.000.000 |
Other
Financials
|
|
Contingent
Liabilities |
|
Working Capital 3.405.000.000 |
|
Net Worth 0 |
Ratios
|
|
|
Pre
Tax Profit Margin |
0.46 |
|
Return
On Capital Employed |
|
|
Return
On Total Assets Employed |
1.26 |
|
Return
On Net Assets Employed |
3.55 |
|
Sales
/ Net Working Capital |
7.76 |
|
Stock
Turnover Ratio |
10.04 |
|
Debtor
Days |
|
|
Creditor
Days |
9.59 |
|
Current
Ratio |
1.55 |
|
Liquidity
Ratio Or Acid Test |
1.12 |
|
Current
Debt Ratio |
1.81 |
|
Gearing |
|
|
Equity
In Percentage |
|
|
Total
Debt Ratio |
1.81 |
Additional
Financials
|
|
Gross
Profit |
Current
Directors
|
||||
|
Name |
Gender |
Date
of Birth |
Position |
|
|
Rakesh
Mehra |
Male |
1966-03-02 |
Managing
Director |
|
|
Julie
Tuan Anh Tran |
Female |
|
Company
Secretary |
|
Previous
Directors
|
|
No
previous directors for this company. |
Share
Capital Structure
|
|
Nominal Share
Capital 3.290.000.000 |
|
Issued Share Capital 3.290.000.000 |
Shareholders
|
||
|
Shareholder |
Address |
% Shares
Held |
|
Mr.
Rakesh Mehra |
India |
100 |
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 68.26 |
|
|
1 |
INR 91.21 |
|
Euro |
1 |
INR 79.88 |
|
VND |
1 |
INR 0.0030 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
|
|
|
|
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.