Mr. Nguyen Manh Chien is a founder of Calico Audit Firm since 2016, with more than 10 years of experience in the field of auditing and valuation, Mr. Chien has directly conducted more than 500 audits in various types of enterprises with diverse industries. In which, Mr. Chien is an in-depth consultant for many years for Vietnam Steel Corporation and Credit Funds.
Prior to that, he was an audit and legal expert at AASC Auditing Company in the period from 2010 to 2016. During his career, Mr. Chien has directly led many large legal and audit consulting services, in which there are typical customers such as:
IN THE FIELD OF AUDIT
STATE-OWNED ENTERPRISES
VIETNAM STEEL CORPORATION
Vietnam Steel Corporation was established on the basis of merging the production and business units of Vietnam's steel industry, namely Metal Corporation and Steel Corporation. VNSTEEL operates mainly in the field of steel production and trading; and materials and equipment related to the steel industry; in addition, there are other business activities such as financial investment; business, port operation and forwarding services, warehouses, factories, offices, houses; investment and business in infrastructure of industrial zones, urban areas and real estate; Labor export…
VNSTEEL system consists of units with close relationships in terms of economic, finance, technology, supply, consumption, service, information, training, research, marketing, import and export interests; has manufacturing plants, mining facilities, business and service networks, research institutes, schools... nationwide and operates mainly in the steel industry. Currently, enterprises in VNSTEEL system supply over 50% of construction steel demand and about 30% of domestic cold-rolled steel demand.
Mr. Chien has provided legal consultation, audited member companies and consolidated financial statements for the corporation for 12 subsidiaries, 8 affiliated units and 26 affiliated company members scattered from North to South. Throughout the consulting process, Mr. Chien has provided consultation to perfect the accounting system as well as the internal control system for the company.
VIETNAM ELECTRICITY CORPORATION
Vietnam Electricity Corporation is a special state-owned enterprise with multi-industry business. Before September 2006, this group was called the Electricity of Vietnam Corporation, a state-owned corporation managed by the central government. The main business is the production, transmission and import and export of electricity. The Group builds power plants, distributes electricity to households, regulates the national grid, exports and imports electricity with neighboring countries such as China and Laos, ensuring the implementation of the electricity as required by the Vietnamese government.
Total capital of the Corporation was estimated in 2004 to be nearly 100 trillion VND (equivalent to nearly 7 billion USD at the time).
.jpg)
Mr. Chien has directly provided legal consultation, audited member in provinces, distributed the telecommunications systems of the Electricity Group to Viettel Group and valued assets to equitize the Electricity Group in challenging conditions when member units are scattered from North to South. In the process of distributed the telecommunications system, Mr. Chien has participated in asset classification, bookkeeping, inventory and measurement of assets, consulting and coordinating with employees of both parties to adopt the system. He handled the distribution in all provinces in the South. In addition, he held the position of team leader in auditing and providing legal consultation to perfect the internal control system.
VIETTEL MILITARY INDUSTRY AND TELECOMS GROUP (VIETTEL)
As a 100% state-owned defense economic enterprise, the corporation is responsible for inheriting the rights, legal obligations and legitimate interests of the Military Telecommunications Corporation. Viettel Military Industry and Telecoms Group is owned by the Ministry of Defense and is a military enterprise doing business in the field of post - telecommunications and information technology.
Viettel is the largest Telecommunications and Information Technology Group in Vietnam, and is considered one of the fastest growing telecommunication companies in the world and in the Top 15 of global telecommunication companies on the number of subscribers. Currently, Viettel has invested in 7 countries in 3 continents including Asia, America, Africa, with a total population of more than 190 million. In 2012, Viettel achieved 7 billion USD in revenue with more than 60 million subscribers globally.
Mr. Chien provides consultation on the legal corridor, audits the provincial member units of the Group in the Northern region in the provinces: Quang Ninh, Phu Tho,... In which, he holds the position of team leader in auditing and participating in providing consultation to perfect the internal control system related to scratch cards, avoiding the risk of theft and embezzlement for the corporation.
VIETNAM POSTS AND TELECOMMUNICATIONS GROUP (VNPT)
VNPT is currently the leading Posts and Telecommunications Group in Vietnam, VNPT is the first service provider to lay the foundation for the development of the Vietnam Posts and Telecommunications industry, and concurrently a corporation that plays a key role in making Vietnam become one of the 10 fastest growing posts and telecommunications countries in the world. VNPT has established economic relations/business cooperation with more than 200 foreign partners who are the world's leading multinational corporations in posts, telecommunications, and information technology in all business fields, industrial production, finance, consultation, insurance, human resource training and development.
After restructuring the business, now with nearly 40,000 employees, advanced telecommunications technology infrastructure, and a service network covering all 63 provinces and cities across the country, VNPT is a No.1 postal and telecommunications service provider in Vietnam, serving about 30 million mobile subscribers, nearly 10 million landline phone subscribers and about dozens of millions of Internet users.
.jpg)
Mr. Chien provides legal consultation and audit at units of the provinces of the Group in the central region in the provinces such as Hue, Gia Lai, Kontum, Dak Nong, Dak Lak,…; Detects material errors related to inventory, management processes related to scratch cards. In which, he holds the position of team leader in auditing, providing consultation to perfect the internal control system related to scratch cards, avoiding theft and embezzlement of scratch cards.
THAI HUNG TRADING JOINT STOCK COMPANY
With a charter capital of 1,000 billion VND, the average annual revenue is from 15,000 - 18,000 billion VND (equivalent to 650 million - 780 million USD) to the state budget from: 450 - 650 billion VND. Thai Hung is a multi-industry production and business unit: Business: Construction steel, steel billets, metal scrap, cultural books; Services: Logistics, hotel; Investment: Education, real estate.
Especifically, the average annual steel consumption of Thai Hung accounts for about 13% of Vietnam's steel market share. With more than 2000 customers and expanding relations with nearly 50 countries around the world through import and export activities with an average annual import and export turnover of about 150-200 million USD.
Thai Hung's products have been presented in many key projects of the country such as: National Convention Center, Keangnam Building, Terminal T1 - Noi Bai International Airport, Dung Quat Refinery and Petrochemical Plant, Samsung Electronics Group, large and small urban areas most of the country, highway projects, ring roads ....
Mr. Chien has provided legal consultation and audited the entire corporation, prepared consolidated reports for more than 15 member units in provinces: Thai Nguyen, Hanoi, Quang Ninh, Hung Yen,... Throughout the process, Mr. Chien has helped the company perfect its management system with an internal control system, and at the same time supported training and consulting for the group's accountants, sharing experiences, helping to succeed of the enterprise.
Public, Listed and Private Enterprises
HO CHI MINH & HANOI METAL JOINT STOCK COMPANY
Hanoi Metal Joint Stock Company has 6 affiliated enterprises, 1 branch in Hai Phong, 1 branch in Ho Chi Minh City and 1 associate company in Hung Yen. HNSTEELCORP is a major supplier of domestically produced and imported steel for factories and industrial and civil constructions; is the official distributor of many leading steel brands in Vietnam such as: Vietnam Steel Corporation-JSC (VNSTEEL), VINAKYOEI, Thai Nguyen Iron and Steel (TISCO), Vietnam-Korea Steel (VPS), Vietnam-Australia Steel (VUC), VINAPIPE Steel Pipe, etc.
In addition, HNSTEELCORP has units specializing in some types of steel such as: section steel, sheet steel, fabricated steel... Annual revenue reaches 1,800 - 2,200 billion VND.
Ho Chi Minh City Metal Joint Stock Company (HMC) is a distributor for major steel manufacturers in Vietnam and a long-standing and well-established iron and steel business unit in the commercial iron and steel business sector. Currently, the company's distribution network includes the company's offices and 7 factories spread throughout the area of Ho Chi Minh City, the Western region, the Southeast region and the Central region. The company is currently a joint stock company with a charter capital of VND 210 billion.
Mr. Chien is head of the audit team, providing legal consultation to perfect the internal control system. At the same time, guides customers to evaluate errors, evaluates the internal control system, guides employees to conduct in-depth audits, audits, reviews and evaluates the materiality of the entire financial statements. Throughout the course of work, Mr. Chien has helped businesses reduce unnecessary costs, bringing maximum benefits to shareholders.
TRAN PHU ELECTRIC MECHANICAL JOINT STOCK COMPANY
Tran Phu Mechanical Engineering Enterprise was transformed into Tran Phu Electronic Mechanical Joint Stock Company with charter capital of VND 78,4 billion. Business lines: manufacturing and trading all kinds of electrical cables, copper and aluminum flexible wires, trading in equipment, machinery spare parts and supplies of all kinds such as copper, aluminum, PVC plastic…; Commercial advertising trade, leasing machinery and equipment, training technical workers to manufacture electrical cables; Transferring the technology of manufacturing electrical wires, training workers in wire manufacturing techniques; Importing and exporting business items.
Mr. Chien is head of the audit team, providing legal consultation to perfect the internal control system. At the same time, guides customers to evaluate errors, evaluates internal control systems, guides employees to conduct in-depth audits, audits, reviews and evaluates materiality of the entire financial statements, and provides consultation on completing the cost calculation according to the norm to give the stock value in the future.
Foreign-invested Enterprises
HANOI BATTERY JOINT STOCK COMPANY
Hanoi Battery Joint Stock Company has a network of product sales agents spread throughout the country. The market share of "Rabbit" batteries accounts for about 40% of the domestic battery market share in the country, contributing to stabilizing the market and providing Vietnamese consumers with high-quality and stable battery products. December 2017: Increase charter capital from 51,814,430,000 VND to 72,539,110,000 VND dividing bonus shares to existing shareholders.
Mr. Chien is head of the audit team, providing legal consultation to perfect the internal control system. At the same time, guides customers to evaluate errors, evaluates internal control systems, guide employees to conduct in-depth audits, audits, reviews and evaluates materiality of the entire financial statements and provides consultation to perfect the calculation of the cost according to the norm; Participates in financial consultation during the capital sale to Singapore investors, and, Mr. Chien also provides consultation on completing the books to serve the transfer of shares.
PRICE APPRAISAL
Carrying out the equitization of two bus company members of Hanoi Transport Corporation
The Corporation is organized and operates according to the model of the Corporation, invested and established by the companies themselves (Parent Company - Subsidiary).
In which, Hanoi Transport Corporation plays the role of the parent company directly carrying out its business activities and exercising the rights and obligations of the owners or shareholders, capital contributors in the affiliated companies.
.jpg)
Mr. Chien is the leader of the appraisal team, performing valuations and evaluating special properties related to buses. At the same time, directly exchanging and meeting with departments, agencies and departments of the People's Committee of Hanoi. In addition, collecting properties, finding comparable properties to perform the appraisal.
Valuation of Tran Phu Electric Mechanical Joint Stock Company
Tran Phu Mechanical Engineering Enterprise was transformed into Tran Phu Electronic Mechanical Joint Stock Company with charter capital of VND 78,4 billion. Business lines: manufacturing and trading all kinds of electrical cables, copper and aluminum flexible wires, trading in equipment, machinery spare parts and supplies of all kinds such as copper, aluminum, PVC plastic…; Commercial advertising trade, leasing machinery and equipment, training technical workers to manufacture electrical cables; Transferring the technology of manufacturing electrical wires, training workers in wire manufacturing techniques; Importing and exporting business items.
Mr. Chien is the leader of the appraisal team, collecting historical data, evaluating indicators, and then estimating revenue and business results in the following 5 years. At the same time, make a 5-year estimation based on raw material prices and market fluctuations.
Valuation of Ellipse Tower Office and Apartment Complex at 110 Tran Phu, Ha Dong
Ellipse Tower apartment’s scale: the project has 33 floors and 3 basements; Total project area: 2,600 m2; Construction area: 1,555,4 m2.
This is an unfinished apartment building and the construction period is from 2011 to 2019. However, the project implementation party has not yet handed over the house to the investor. Mr. Chien is the leader of the appraisal team, collecting information on related comparable properties of commercial floors, office floors and apartments. However, in order to carry out the work, Mr. Chien has had difficulties in collecting comparative information and data when Vietnam currently does not have a reliable website to search for comparative data. Therefore, Mr. Chien has done the work in an unfavorable environment because currently, office, commercial and apartment floors with different forms, designs, and locations are located in different locations, leading to higher value. In addition, the building was built in 2011, so the previous and current investment values will have certain differences, and may not be as expected of the investor. While the investor lost credibility, there were large fluctuations in prices, labor and interest rates, Mr. Chien has had to estimate and recalculate the value of the project and revenue.
ACHIEVEMENTS:
