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MIRA
INFORM REPORT
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Report No. : |
511147 |
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Report Date : |
31.05.2018 |
IDENTIFICATION DETAILS
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Name : |
DUC LONG INTERNATIONAL
IMPORT AND EXPORT CO LTD |
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Registered Office : |
32 Huu Nghi St Hoa Binh
Area Hoa Lac Ward, Mong Cai, Quang Ninh |
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Country : |
Vietnam |
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Financials (as on) : |
December 2016 |
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Date of Incorporation : |
26.03.2012 |
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Com. Reg. No.: |
5701602241 |
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Legal Form : |
Company Limited |
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Line of Business : |
Wholesale of grain,
unmanufactured tobacco, seeds and animal feeds |
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No. of Employees : |
10 [2018] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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.
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Source
: CIA |
Company name
DUC LONG INTERNATIONAL IMPORT AND EXPORT CO
LTD
Company Summary
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Business
Name |
DUC LONG INTERNATIONAL IMPORT AND EXPORT CO LTD |
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Country |
VIET NAM |
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Company
Registration Number |
5701602241 |
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Main
Activity Code |
4621 |
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Main
Activity Description |
Wholesale of grain, unmanufactured tobacco, seeds and animal feeds |
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Company
Status |
Normal (Active) |
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Latest
Shareholder Equity Figure |
17.124.000.000 |
Basic Information
|
Business
Name |
DUC LONG INTERNATIONAL IMPORT AND EXPORT CO LTD |
|
Registered
Company Name |
DUC LONG INTERNATIONAL IMPORT AND EXPORT CO LTD |
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Company
Registration Number |
5701602241 |
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Country |
VIET NAM |
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VAT
Registration Number |
5701602241 |
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VAT
Registration Date |
2012-03-26 |
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Date of
Company Registration |
2012-03-26 |
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Date of
Starting Operations |
2012-03-26 |
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Legal Form |
Company Limited |
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Company
Status |
Normal (Active) |
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Contact
Telephone Number |
[+84] 203-3770944 |
Main Address
|
Address |
Country |
Telephone |
|
32 Huu Nghi St Hoa Binh Area Hoa Lac Ward, Mong Cai, Quang Ninh |
VIET
NAM |
[+84] 203-3770944 |
Other Address
No other addresses for this company.
Previous Address
|
Address |
Country |
|
131 Nguyen Du St Hoa Binh Area Hoa Lac Ward, Mong Cai, Quang Ninh |
VIET NAM |
Activities
|
Activity
Code |
Activity Description |
|
4621 |
Wholesale
of grain, unmanufactured tobacco, seeds and animal feeds |
Email Addresses
N/a
Web Pages
N/a
Employee Information
|
Date
Reported |
Number of Employees |
|
2018 |
10 |
Banker Information
Banker Name
SAI GON HA NOI COMMERCIAL JOINT STOCK BANK
Advisors Information
No advisor
information for this company.
Miscellaneous Information
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Fax Number |
[+84] 203-3772047 |
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Export
Countries |
Asia / Pacific, China |
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Import
Countries |
Asia / Pacific, China |
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Additional
Business Information |
Core Business: The primary business focus of DUC LONG INTERNATIONAL IMPORT AND EXPORT CO LTD is Trading - Finished products. Key products include: Beans, Chili, Corn, Grains, Peanuts, Sesame. Supplementary Business In addition to the core business, DUC LONG INTERNATIONAL IMPORT AND EXPORT CO LTD also is engaged in the following areas of business: 1. Exporting, Exporting - Natural food items, Unprocessed (Meats, Produce or Seafood), Exporting - Finished products, 2. Importing, Importing -Natural food items, Unprocessed (Meats, Produce or Seafood), Importing - Finished products. |
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Additional
Payment Information |
Selling: Type: Local Terms: 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: Import Terms: Letter of Credit (At-sight), Telegraphic Transfer (T/T) - Executed at time of transaction Local: Credit -Unsecured 30~60 days, Cash on delivery (COD) |
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Additional
Financial Information |
Financial Statements were prepared as at 2016-12-31 and 2015-12-31. 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. |
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Number of
Employees at Address |
10 |
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Number of Employees at Group |
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|
Number of Employees at Factory |
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Additional Miscellaneous
Information
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Primary
Business Activity |
Trader |
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Key
Industry |
Agricultural Products |
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Registered
Legal Address |
32 Huu Nghi St Hoa Binh Area Hoa Lac Ward, Mong Cai, Quang Ninh |
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Name
History |
N/a |
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Issuing
Authority |
DEPT. OF PLANNING & INVESTMENT - Quang Ninh |
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Legal Form
- Category |
Private Company with Limited Liability |
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Legal Form
- Abbreviation |
CO LTD |
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Capital |
US$ 481,890 |
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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. |
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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 GTGT / VAT Number: 5701602241 Date of Issuance: 26 Mar, 2012 |
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Domestic
Sales & Purchases |
Annual Sales Analysis: Percentage International Sales (Export): 30% Domestic Sales: 70% Annual Purchases Analysis: Percentage Imports: 20% Local Purchases: 80% |
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Company
Management |
Name: Mr. Chung Tien Tran Date of Birth: 1982 |
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Capital (Date: Authorized Capital -History) |
26 Mar, 2012: 2,200,000,000 19 Oct, 2015: 11,000,000,000 |
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Reputation |
Reference checking for the purpose of establishing DUC LONG INTERNATIONAL IMPORT AND EXPORT CO LTD's reputation within the respective industry failed to reveal any adverse information. |
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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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Bank
Details |
Bank Name: SAI GON HA NOI COMMERCIAL JOINT STOCK BANK Global Identifier: P1295387 SWIFT Code: SHBAVNVX Bank Name: VIETNAM BANK FOR AGRICULTURE & RURAL DEVELOPMENT Global Identifier: 32408794 Branch: VIETNAM BANK FOR AGRICULTURE Branch Address: Quang Ninh SWIFT Code: VBAAVNVX |
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Office
& Facilities |
The following information relates to the Business Entity's office as listed above: Name: DUC LONG INTERNATIONAL IMPORT AND EXPORT CO LTD - MONG CAI, QUANG NINH Primary Use: Office & Administration facilities Address: 32 Huu Nghi St Hoa Binh Area Hoa Lac Ward, Mong Cai, Quang Ninh Country: Vietnam Status: Operational |
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Previous
Contact Details |
Date of Relocation: 19 Oct, 2015 |
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Primary Products |
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Products /
Materials / Services Description Activity |
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Beans |
Trading |
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Chili |
Trading |
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Corn |
Trading |
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Grains |
Trading |
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Peanuts |
Trading |
Financials
Profit and Loss
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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 |
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Revenue |
974.031.000.000 |
117.363.000.000 |
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Operating Costs |
973.569.000.000 |
117.040.000.000 |
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Operating Profit |
462.000.000 |
323.000.000 |
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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 |
76.000.000 |
- |
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Financial Expenses |
63.000.000 |
- |
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Extraordinary Income |
- |
- |
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Extraordinary Costs |
- |
- |
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Profit before Tax |
474.000.000 |
323.000.000 |
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Tax |
95.000.000 |
65.000.000 |
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Profit after Tax |
379.000.000 |
259.000.000 |
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Dividends |
- |
- |
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Minority Interests |
- |
- |
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Other Appropriations |
- |
- |
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Retained Profit |
379.000.000 |
259.000.000 |
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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 |
3.921.000.000 |
0 |
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Total Tangible Assets |
3.921.000.000 |
0 |
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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 |
0 |
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Total Other Fixed Assets |
0 |
0 |
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Total Fixed Assets |
3.921.000.000 |
0 |
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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 |
0 |
0 |
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Total Inventories |
0 |
0 |
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Trade Receivables |
22.840.000.000 |
26.728.000.000 |
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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 |
0 |
0 |
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Total Receivables |
22.840.000.000 |
26.728.000.000 |
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Cash |
1.517.000.000 |
745.000.000 |
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Other Current Assets |
0 |
0 |
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Total Current Assets |
24.356.000.000 |
27.474.000.000 |
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Total Assets |
28.277.000.000 |
27.474.000.000 |
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Trade Payables |
11.054.000.000 |
4.662.000.000 |
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Bank Liabilities |
0 |
0 |
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Other Loans or Finance |
0 |
0 |
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Group Payables |
0 |
0 |
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Miscellaneous Liabilities |
99.000.000 |
67.000.000 |
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Total Current Liabilities |
11.153.000.000 |
4.729.000.000 |
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Trade Payables After 1 Year |
0 |
0 |
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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 |
1.000.000 |
|
Total Long Term Liabilities |
0 |
1.000.000 |
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Total Liabilities |
11.153.000.000 |
4.730.000.000 |
|
Called Up Share Capital |
15.500.000.000 |
21.500.000.000 |
|
Share Premium |
0 |
0 |
|
Revenue Reserves |
1.624.000.000 |
1.244.000.000 |
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Other Reserves |
0 |
0 |
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Total Shareholders Equity |
17.124.000.000 |
22.744.000.000 |
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Other
Financials Contingent Liabilities |
|
|
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Working Capital |
13.203.000.000 |
22.745.000.000 |
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Net Worth |
0 |
0 |
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|
|
|
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Ratios |
|
|
|
Pre Tax Profit Margin |
0.05 |
0.28 |
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Return On Capital Employed |
|
1.42 |
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Return On Total Assets
Employed |
1.68 |
1.18 |
|
Return On Net Assets
Employed |
2.77 |
1.42 |
|
Sales / Net Working Capital |
73.77 |
5.16 |
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Stock Turnover Ratio |
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|
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Debtor Days |
8.56 |
83.12 |
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Creditor Days |
4.14 |
14.5 |
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Current Ratio |
2.18 |
5.81 |
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Liquidity Ratio Or Acid Test |
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|
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Current Debt Ratio |
0.65 |
0.21 |
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Gearing |
|
|
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Equity In Percentage |
|
|
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Total Debt Ratio |
0.65 |
0.21 |
Current Directors
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Name |
Gender |
Address |
Date of |
Position |
|
|
|
|
Birth |
|
|
Tu Anh Thi Nguyen |
Female |
|
1981-09-18 |
Managing Director |
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Chung Tien Tran |
Male |
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|
Chief Accountant |
Previous Directors
No previous directors for
this company
Share Capital Structure
|
Nominal Share Capital |
11.000.000.000 |
|
|
Issued Share Capital |
||
Shareholders
|
Shareholder |
Address |
%
Shares Held |
|
Ms. Tu Anh Thi Nguyen |
Vietnam |
45.5 |
|
Ms. Thuy Thi Pham |
Vietnam |
31.8 |
|
Mr. Luan Van Pham |
Vietnam |
22.7 |
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 67.63 |
|
|
1 |
INR 89.70 |
|
Euro |
1 |
INR 78.20 |
|
VND |
1 |
INR 0.0030 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
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Report Prepared
by : |
SYL |
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 |
|
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.