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MIRA INFORM REPORT
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Report No. : |
510335 |
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Report Date : |
26.05.2018 |
IDENTIFICATION DETAILS
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Name : |
NAM PHAT STEEL TRADING AND SERVICING JSC |
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Registered Office : |
Thinh Van Hamet Minh Duc Commune,
My Hao Dist, Hung Yen |
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Country : |
Vietnam |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
29.06.2011 |
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Com. Reg. No.: |
0900692339 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Wholesale of Metals and Metal Ores. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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) |
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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.
|
Source
: CIA |
COMPANY
NAME
NAM PHAT STEEL TRADING AND SERVICING JSC
Company
Summary
|
Business Name |
NAM PHAT
STEEL TRADING AND SERVICING JSC |
|
Country |
VIET NAM |
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Company
Registration Number |
0900692339 |
|
Main
Activity Code |
4672 |
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Main
Activity Description |
Wholesale of
metals and metal ores |
|
Company
Status |
(Active) |
|
Latest
Turnover Figure |
- |
|
Latest
Shareholder Equity Figure |
22.180.000.000 |
Basic Information
|
Business
Name |
NAM PHAT STEEL TRADING AND SERVICING JSC |
|
Registered
Company Name |
NAM PHAT STEEL TRADING AND
SERVICING JSC |
|
Company
Registration Number |
0900692339 |
|
Country |
VIET NAM |
|
VAT
Registration Number |
0900692339 |
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VAT
Registration Date |
2011-06-29 |
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Date
of Company Registration |
2011-06-29 |
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Date
of Starting Operations |
2011-06-29 |
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Commercial
Court |
-- |
|
Legal
Form |
Joint Stock Company |
|
Type of Ownership
|
-- |
|
Company
Status |
(Active) |
|
Principal
Activity Code |
-- |
|
Principal
Activity Description |
-- |
|
Contact
Telephone Number |
N/A |
Main Address
|
Address |
Country |
Telephone |
|
Thinh van Hamet Minh Duc Commune,
My Hao Dist, Hung Yen |
VIET NAM |
N/A |
Other Address
|
Address |
Country |
Telephone |
|
No
other addresses for this company |
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|
Previous Address
|
Address |
Country |
|
No previous addresses
for this company. |
|
Activities
|
Activity Code |
Activity
Description |
|
4672 |
Wholesale
of metals and metal ores |
Email Addresses
No
email for this company.
Web Pages
No
web pages for this company.
Employee Information
|
Date Reported |
Number
of Employees |
|
2018 |
N/A |
Banker Information
|
Banker Name |
Banker
Address |
Phone Number |
|
No Banker
information for this company. |
||
Advisors Information
|
Auditor Name |
Solicitor
Name |
|
No advisor information for this company.
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Miscellaneous
Information
|
Fax
Number |
N/A |
|
Export
Countries |
-- |
|
Import
Countries |
-- |
|
Additional
Business Information |
Core
Business: The primary business focus of
NAM PHAT STEEL TRADING AND SERVICING
JSC is |
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|
Manufacturing - Finished products.
Key product include :Steel products. |
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Additional
Payment Information |
-- |
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Additional
Financial Information |
Financial Statements were
prepared as at 31.12.16. 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 |
N/A |
|
Number
of Employees at Group |
-- |
|
Number
of Employees at Factory |
-- |
Additional Miscellaneous Information
|
Primary
Business Activity |
Manufacturer |
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Key
Industry |
Metals
& Metal Products |
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Registered
Legal Address |
Thinh
Van Hamet Minh Duc Commune, My Hao
Dist, Hung Yen |
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Issuing
Authority |
DEPT.
OF PLANNING & INVESTMENT - Hung Yen |
|
Legal
Form Category |
Joint
Stock Company |
|
Legal
Form Abbreviation |
JSC |
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Operational
Status of Business |
It
was not possible to confirm the
operational status. |
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Capital |
US$
3,510,479 |
|
Tax
Issuing Authority |
MINISTRY
OF FINANCE |
|
Acronym |
GTGT/
VAT |
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Reputation |
Due
to the prevailing circumstances regarding
the status of NAM PHAT STEEL TRADING AND
SERVICING JSC, assessment of reputation is not relevant. |
|
Nega
Scan Adverse Data Monitoring |
Dishonored
checks, Debt, Civil litigation, Performance
defaults, Adverse local media coverage /
adverse filing history: No Record Found. |
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Shareholders
Comments |
Not
available - According to the corporate
statutory laws for this type of Legal
Form - Category (Joint Stock Company)
in Vietnam, there is no public disclosure of
Shareholders. |
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Office and Facilities
|
Name:
NAM PHAT STEEL TRADING AND SERVICING
JSC - MY HAO DIST, HUNG YEN;
Primary Use: Office & Administration
facilities Address: Thinh Van Hamet Minh
Duc Commune, My Hao Dist, Hung Yen;
Country: Vietnam; Status: Unknown. |
Primary Products
|
Products /
Materials / Services Description |
Activity |
|
Steel
products |
Manufacturing |
Financials
|
Financial
Year |
2016-12 |
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Number
of Weeks |
52 |
|
Currency |
VND |
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Consolidated
Accounts |
No |
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PROFIT AND LOSS |
|
|
Revenue |
73.588.000.000 |
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Operating
Costs |
73.221.000.000 |
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Operating
Profit |
367.000.000 |
|
Wages
& Salaries |
- |
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Pension
Costs |
- |
|
Depreciation |
- |
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Amortisation |
- |
|
Financial
Income |
1.000.000 |
|
Financial
Expenses |
- |
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Extraordinary
Income |
- |
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Extraordinary
Costs |
1.083.000.000 |
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Profit
before Tax |
-715.000.000 |
|
Tax |
- |
|
Profit
after Tax |
-715.000.000 |
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Dividends |
- |
|
Minority
Interests |
- |
|
Other
Appropriations |
- |
|
Retained
Profit |
-715.000.000 |
BALANCE SHEET
|
Land
& Buildings |
0 |
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Plant
& Machinery |
0 |
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Other
Tangible Assets |
0 |
|
Total
Tangible Assets |
0 |
|
Goodwill |
0 |
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Other
Intangible Assets |
0 |
|
Total
Intangible Assets |
0 |
|
Investments |
0 |
|
Loans
to Group |
0 |
|
Other
Loans |
0 |
|
Miscellaneous
Fixed Assets |
19.418.000.000 |
|
Total
Other Fixed Assets |
19.418.000.000 |
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Total
Fixed Assets |
19.418.000.000 |
|
Raw
Materials |
0 |
|
Work
in Progress |
0 |
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Finished
Goods |
0 |
|
Other
Inventories |
0 |
|
Total
Inventories |
2.097.000.000 |
|
Trade
Receivables |
16.140.000.000 |
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Group
Receivables |
0 |
|
Receivables
Due after 1 year |
0 |
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Miscellaneous
Receivables |
112.000.000 |
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Total
Receivables |
16.252.000.000 |
|
Cash |
9.927.000.000 |
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Other
Current Assets |
0 |
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Total
Current Assets |
28.275.000.000 |
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Total
Assets |
47.693.000.000 |
|
Trade
Payables |
25.478.000.000 |
|
Bank
Liabilities |
0 |
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Other
Loans or Finance |
0 |
|
Group
Payables |
0 |
|
Miscellaneous
Liabilities |
34.000.000 |
|
Total
Current Liabilities |
25.512.000.000 |
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Trade
Payables After 1 Year |
0 |
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Bank
Liabilities After 1 Year |
0 |
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Other
Loans or Finance due after 1 year |
0 |
|
Group
Payables After 1 Year |
0 |
|
Miscellaneous
Liabilities Due After 1 Year |
0 |
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Total
Long Term Liabilities |
0 |
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Total
Liabilities |
25.512.000.000 |
|
Called
Up Share Capital |
25.000.000.000 |
|
Share
Premium |
0 |
|
Revenue
Reserves |
-2.820.000.000 |
|
Other
Reserves |
0 |
|
Total
Shareholders Equity |
22.180.000.000 |
OTHER FINANCIALS
|
Contingent
Liabilities |
|
|
Working
Capital |
2.763.000.000 |
|
Net
Worth |
0 |
RATIOS
|
Pre
Tax Profit Margin |
-0.97 |
|
Return
On Capital Employed |
|
|
Return
On Total Assets Employed |
-1.5 |
|
Return
On Net Assets Employed |
-3.22 |
|
Sales
/ Net Working Capital |
26.63 |
|
Stock
Turnover Ratio |
2.85 |
|
Debtor
Days |
80.06 |
|
Creditor
Days |
126.37 |
|
Current
Ratio |
1.11 |
|
Liquidity
Ratio Or Acid Test |
1.03 |
|
Current
Debt Ratio |
1.15 |
|
Gearing |
|
|
Equity
In Percentage |
|
|
Total
Debt Ratio |
1.15 |
Additional
Financials
Gross
Profit
Current Directors
|
Name |
Gender |
Address |
Date of Birth |
Position |
|
Mai
Thi Lai |
Female |
-- |
1983-11-02 |
Managing
Director |
Previous Directors
|
Name |
Gender |
Address |
Date
of Birth |
Position |
Resignation
Date |
|
No previous
directors for this company. |
|||||
Share Capital Structure
|
Nominal
Share Capital |
80.000.000.000 |
|
Issued Share Capital
|
-- |
Shareholders
|
Shareholder |
Address |
% Shares Held |
|
No
Shareholders for this company. |
||
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 91.22 |
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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
: |
DIV |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
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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 |
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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.