MIRA INFORM REPORT
|
Report Date : |
07.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
TV.PHARM PHARMACEUTICAL JOINT STOCK
COMPANY |
|
|
|
|
Registered Office : |
No. 27 Dien Bien
Phu Str. - Group 2 - Ward 9 - Tra Vinh City - |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Year of Establishment : |
1992 |
|
|
|
|
Com. Reg. No.: |
2100274872 |
|
|
|
|
Legal Form : |
Joint Stock
Company |
|
|
|
|
Line of Business : |
Manufacturing, Trading, Export – Import new medicine, oriental
medicine, medical component and health food |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
Status : |
Satisfactory |
|
|
|
|
Payment
Behaviour : |
No Complaints |
|
|
|
|
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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
|
b1 |
b1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SUBJECT IDENTIFICATION & LEGAL FORM
Current legal status
|
||
|
English Name |
|
TV.PHARM PHARMACEUTICAL JOINT STOCK COMPANY |
|
Vietnamese Name |
|
CONG TY CO PHAN DUOC PHAM TV.PHARM |
|
Short name |
|
TV.PHARM
|
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
1992 |
|
Establishment Decision |
|
81/QD – UBT |
|
Date of Issuance |
|
20 May 1992 |
|
Place of Issuance |
|
People’s Committee of Tra Vinh province |
|
Business Registration No. |
|
2100274872 |
|
Date of Registration |
|
20 Aug 2010 |
|
Place of Registration |
|
Planning and Investment of |
|
Current registered capital |
|
63,000,000,000 VND |
|
Status |
|
Unlisted |
|
Tax code |
|
2100274872 |
|
Total Employees |
|
500 |
|
Note:
The given name is not correct. The subject’s one is above. |
||
Historical Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Type of Business: State owned enterprise Changed
to: Joint stock company |
2003 |
|
2 |
Subject has got former Registered capital: Former Registered Capital
(In 2006) 48,000,000,000 VND; Former Registered Capital (In 2005)
35,000,000,000 VND Changed to: 63,000,000,000 VND |
N/A |
|
3 |
Subject has got former Business Registration No. 5803000005 Changed to: No. 2100274872 |
20 Aug 2010 |
company ADDRESSES
|
Head Office |
||
|
Address |
|
No. 27 Dien Bien Phu Str. - Group 2 - Ward 9 - |
|
Telephone |
|
(84-74) 3753121/ 3855372 |
|
Fax |
|
(84-74) 3855372 |
|
Email |
|
info@tvpharm.com.vn / tvptvh@hcm.vnn.vn |
|
Website |
|
|
|
Note: The given address (27A) telephone and fax numbers
are not correct. The subject’s ones are as above. |
||
|
|
||
|
Branch in Ho Chi Minh |
||
|
Address |
|
Q1 Bis Bach Ma - Bac Hai Quarters - Ward 15 - 10 District - |
|
Telephone |
|
84-8 39702357 – 39702315 |
|
Fax |
|
84-8 38652024 |
|
|
||
|
Branch in Tra Vinh |
||
|
Address |
|
No. 37-39 Pham Thai Buong Str. - Ward 3 - |
|
Telephone |
|
(84-74) 3753095 |
|
|
||
|
Branch in Ha Noi |
||
|
Address |
|
No. 22 11B Trung Yen 10 - Trung Hoa Ward - Cau Giay District - Ha |
|
Telephone |
|
(84-4) 37833516 |
|
|
||
|
Branch in |
||
|
Address |
|
No.423 Trung Nu Vuong - Hai Chau District - |
|
Telephone |
|
(84-511) 3633951 |
|
|
||
|
Branch in Dong Nai |
||
|
Address |
|
20/4 KP3 Quang Vinh Ward - |
|
|
||
|
Branch in An Giang |
||
|
Address |
|
11B |
|
Telephone |
|
(84-766) 3253117 |
|
|
||
|
Branch in Can Tho |
||
|
Address |
|
17B2 Collective 91B - |
|
Telephone |
|
(84-71) 3781345 |
DIRECTORS
|
1 . NAME |
|
Mr. LE VAN HO |
|
Position |
|
Chairman and General Director |
|
ID Number/Passport |
|
334349567 |
|
Resident |
|
No. 27 Dien Bien Phu Str. - Group 2 - Ward 9 - Tra
Vinh City - Tra Vinh Province - Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
+84 913891324 |
|
|
||
|
2 . NAME |
|
Mr. BUI VAN TONG |
|
Position |
|
Deputy General Director |
|
ID Number/Passport |
|
334000958 |
|
Resident |
|
No. 70 Dong Khoi str - ward 6 - Tra Vinh City -
Tra Vinh Province - Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
(84) 913891092 |
|
|
||
|
3 . NAME |
|
Mr. NGUYEN DANG NGUYEN |
|
Position |
|
Deputy General Director |
|
ID Number/Passport |
|
334001329 |
|
Resident |
|
No. 7 - Road 9 Chu Van An quarters - ward 26 -
Binh Thanh District - Ho Chi Minh City - Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
+84 903829806 |
|
|
||
|
4 . NAME |
|
Mr. HA VAN DONG |
|
Position |
|
Deputy General Director |
|
ID Number/Passport |
|
334454430 |
|
Resident |
|
No. 37 Pham Thai Buong str - ward - Tra Vinh
City - Tra Vinh Province - Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
5 . NAME |
|
Mr. HOANG VAN GIOI |
|
Position |
|
Chief Accountant |
|
ID Number/Passport |
|
334001896 |
|
Resident |
|
ward 5 - Vinh Long City - Vinh Long Province -
Vietnam |
|
Nationality |
|
Vietnamese |
BUSINESS NATURE AND ACTIVITIES
|
The
subject registered in the following activities: |
IMPORT & EXPORT ACTIVITIES
|
IMPORT: |
||
|
·
Types
of products |
|
Raw material
and medicine product, equipment |
|
·
Market
|
|
|
|
·
Mode
of payment |
|
LC, TT |
|
|
||
|
EXPORT: |
||
|
·
Market
|
|
|
|
·
Mode
of payment |
|
LC, TT |
BANKERS
|
1. VIETNAM EXPORT IMPORT
COMMERCIAL JOINT STOCK BANK |
||
|
Address |
|
No. 7 Le Thi
Hong Gam Street Nguyen Thai Binh Ward - 1 District - |
|
Telephone |
|
(84-8) 3821
0055 |
|
Fax |
|
(84-8) 3829
6063 |
|
SWIFT Code |
|
EBVIVNVX |
|
|
||
|
2. VIET NAM JOINT STOCK
COMMERCIAL BANK FOR INDUSTRY AND TRADE TRA VINH BRANCH |
||
|
Address |
|
No.15A Dien
Bien Phu - |
|
Telephone |
|
(84-74)
3863827 |
|
|
||
|
3. BANK FOR INVESTMENT AND
DEVELOPMENT OF |
||
|
Address |
|
No.24-26 Pham
Thai Buong Street - |
|
Telephone |
|
(84-74)
3856627 |
SHAREHOLDERS
|
1 . NAME |
|
STATE CAPITAL INVESTMENT
CORPORATION |
|
Business
Registration |
|
0106000737 |
|
Tax code |
|
0101992921 |
|
Address |
|
No. 15A |
|
Tel |
|
+84-4 62780126 |
|
Fax |
|
+84-4 62780136 |
|
Number of
shares |
|
2,738,700 |
|
Value of
shares |
|
27,387,000,000 VND |
|
Percentage |
|
43.47% |
|
|
||
|
2 . NAME |
|
Mr. LE VAN HO |
|
Position |
|
Chairman and General Director |
|
ID Number/Passport |
|
334349567 |
|
Issued on |
|
07 Mar 2003 |
|
Issued Place |
|
Police Station of |
|
Resident |
|
No. 27 Dien Bien Phu str - group 2 - ward 9 - |
|
Mobile phone |
|
+84 913891324 |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
48,809 |
|
Value of shares |
|
488,090,000 VND |
|
Percentage |
|
0.77% |
|
|
||
|
3 . NAME |
|
Mr. BUI VAN TONG |
|
Position |
|
Deputy General Director |
|
ID Number/Passport |
|
334000958 |
|
Resident |
|
No. 70 Dong Khoi str - ward 6 - |
|
Mobile phone |
|
(84) 913891092 |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
13,083 |
|
Value of shares |
|
130,830,000 VND |
|
Percentage |
|
0.2% |
|
|
||
|
4 . NAME |
|
Mr. NGUYEN DANG NGUYEN |
|
Position |
|
Deputy General Director |
|
ID Number/Passport |
|
334001329 |
|
Resident |
|
No. 7 - Road 9 Chu Van An quarters - ward 26 - Binh Thanh District - |
|
Mobile phone |
|
+84 903829806 |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
139,067 |
|
Value of shares |
|
1,390,670,000 VND |
|
Percentage |
|
2.2% |
|
|
||
|
5 . NAME |
|
Mr. TRUONG CONG HA |
|
ID Number/Passport |
|
334000868 |
|
Resident |
|
Dau Bo Hamlet Hoa Thuan commune - Chau Thanh District - |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
34,313 |
|
Value of shares |
|
343,130,000 VND |
|
Percentage |
|
0.54% |
|
|
||
|
6 . NAME |
|
Mr. HOANG VAN GIOI |
|
Position |
|
Chief Accountant |
|
ID Number/Passport |
|
334001896 |
|
Resident |
|
ward 5 - |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
24,000 |
|
Value of shares |
|
240,000,000 VND |
|
Percentage |
|
0.38% |
|
|
||
|
7 . NAME |
|
Mr. HA VAN DONG |
|
Position |
|
Deputy General Director |
|
ID Number/Passport |
|
334454430 |
|
Resident |
|
No. 37 Pham Thai Buong str - ward - |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
30,638 |
|
Value of shares |
|
306,380,000 VND |
|
Percentage |
|
0.48% |
|
|
||
|
8 . NAME |
|
Ms. TRAN THI HOA |
|
ID Number/Passport |
|
334136530 |
|
Resident |
|
No. 43 Nguyen Thi Minh Khai str - ward 7 - |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
9,497 |
|
Value of shares |
|
94,970,000 VND |
|
Percentage |
|
0.15% |
FINANCIAL DATA
|
BALANCE SHEET |
|||
Unit: One VND
|
|||
|
Balance sheet date |
31/12/2010 |
31/12/2009 |
31/12/2008 |
|
Number of weeks |
52 |
52 |
52 |
|
ASSETS |
|||
|
A – CURRENT ASSETS |
180,691,450,102 |
178,489,751,397 |
164,951,135,063 |
|
I. Cash and cash equivalents |
26,278,292,374 |
15,031,956,951 |
13,216,434,612 |
|
1. Cash |
26,278,292,374 |
15,031,956,951 |
13,216,434,612 |
|
2. Cash
equivalents |
0 |
0 |
|
|
II. Short-term investments |
0 |
0 |
|
|
1. Short-term
investments |
0 |
0 |
|
|
2. Provisions
for devaluation of short-term investments |
0 |
0 |
|
|
III. Accounts receivable |
80,513,427,241 |
76,762,547,740 |
67,881,491,686 |
|
1. Receivable
from customers |
79,790,840,262 |
64,486,204,134 |
50,515,269,400 |
|
2. Prepayments
to suppliers |
1,165,255,000 |
1,687,176,195 |
1,825,390,606 |
|
3.
Inter-company receivable |
0 |
0 |
|
|
4. Receivable according
to the progress of construction |
0 |
0 |
15,540,831,680 |
|
5. Other
receivable |
2,557,331,979 |
13,139,167,411 |
|
|
6. Provisions
for bad debts |
-3,000,000,000 |
-2,550,000,000 |
|
|
IV. Inventories |
64,148,015,036 |
73,441,072,256 |
70,012,110,911 |
|
1. Inventories
|
64,148,015,036 |
73,441,072,256 |
70,012,110,911 |
|
2. Provisions
for devaluation of inventories |
0 |
0 |
|
|
V. Other Current Assets |
9,751,715,451 |
13,254,174,450 |
13,841,097,854 |
|
1. Short-term prepaid
expenses |
78,100,000 |
87,000,000 |
|
|
2. VAT to be
deducted |
181,378,924 |
700,068,836 |
254,774,853 |
|
3. Taxes and
other accounts receivable from the State |
0 |
0 |
|
|
4. Other
current assets |
9,492,236,527 |
12,467,105,614 |
13,586,323,001 |
|
B. LONG-TERM ASSETS |
50,359,369,827 |
53,866,925,035 |
57,241,453,613 |
|
I. Long term account receivable |
0 |
0 |
|
|
1. Long term
account receivable from customers |
0 |
0 |
|
|
2. Working
capital in affiliates |
0 |
0 |
|
|
3. Long-term
inter-company receivable |
0 |
0 |
|
|
4. Other
long-term receivable |
0 |
0 |
|
|
5. Provisions
for bad debts from customers |
0 |
0 |
|
|
II. Fixed assets |
49,604,475,212 |
53,120,817,891 |
56,879,747,956 |
|
1. Tangible assets
|
39,194,909,517 |
42,666,705,821 |
46,763,756,782 |
|
- Historical
costs |
93,044,752,559 |
90,585,260,528 |
89,962,922,268 |
|
- Accumulated
depreciation |
-53,849,843,042 |
-47,918,554,707 |
-43,199,165,486 |
|
2. Financial leasehold
assets |
0 |
0 |
|
|
- Historical
costs |
0 |
0 |
|
|
- Accumulated
depreciation |
0 |
0 |
|
|
3. Intangible
assets |
10,344,487,469 |
9,796,433,844 |
10,050,912,948 |
|
- Initial
costs |
11,345,787,028 |
10,465,577,028 |
10,465,577,028 |
|
- Accumulated
amortization |
-1,001,299,559 |
-669,143,184 |
-414,664,080 |
|
4.
Construction-in-progress |
65,078,226 |
657,678,226 |
65,078,226 |
|
III. Investment property |
0 |
0 |
|
|
Historical
costs |
0 |
0 |
|
|
Accumulated
depreciation |
0 |
0 |
|
|
IV. Long-term investments |
0 |
0 |
|
|
1. Investments
in affiliates |
0 |
0 |
|
|
2. Investments
in business concerns and joint ventures |
0 |
0 |
|
|
3. Other
long-term investments |
0 |
0 |
|
|
4. Provisions
for devaluation of long-term investments |
0 |
0 |
|
|
V. Other long-term assets |
754,894,615 |
746,107,144 |
361,705,657 |
|
1. Long-term
prepaid expenses |
754,894,615 |
746,107,144 |
175,787,552 |
|
2. Deferred
income tax assets |
0 |
0 |
185,918,105 |
|
3. Other
long-term assets |
0 |
0 |
|
|
VI. Goodwill |
0 |
|
|
|
1. Goodwill |
0 |
|
|
|
TOTAL ASSETS |
231,050,819,929 |
232,356,676,432 |
222,192,588,676 |
|
|
|||
|
LIABILITIES |
|||
|
A- LIABILITIES |
97,655,133,251 |
106,919,372,972 |
119,108,191,504 |
|
I. Current liabilities |
91,388,563,497 |
106,443,865,750 |
114,472,488,111 |
|
1. Short-term
debts and loans |
51,800,342,268 |
50,359,987,855 |
58,099,481,087 |
|
2. Payable to
suppliers |
31,664,960,976 |
48,040,755,018 |
45,189,101,679 |
|
3. Advances
from customers |
32,317,056 |
563,037,208 |
581,197,260 |
|
4. Taxes and
other obligations to the State Budget |
1,329,951,662 |
1,149,706,761 |
814,068,567 |
|
5. Payable to employees
|
5,542,278,780 |
5,613,681,739 |
4,005,035,410 |
|
6. Accrued
expenses |
0 |
0 |
|
|
7.
Inter-company payable |
0 |
0 |
|
|
8. Payable
according to the progress of construction contracts |
0 |
0 |
|
|
9. Other
payable |
1,018,712,755 |
716,697,169 |
5,783,604,108 |
|
10. Provisions
for short-term accounts payable |
0 |
0 |
|
|
II. Long-Term Liabilities |
6,266,569,754 |
475,507,222 |
4,635,703,393 |
|
1. Long-term
accounts payable to suppliers |
0 |
0 |
|
|
2. Long-term inter-company
payable |
0 |
0 |
|
|
3. Other
long-term payable |
5,758,767,047 |
0 |
15,070,625 |
|
4. Long-term
debts and loans |
0 |
0 |
4,302,284,000 |
|
5. Deferred
income tax payable |
0 |
0 |
|
|
6. Provisions
for unemployment allowances |
507,802,707 |
475,507,222 |
318,348,768 |
|
7. Provisions
for long-term accounts payable |
0 |
0 |
|
|
B- OWNER’S EQUITY |
133,395,686,678 |
125,437,303,460 |
103,084,397,172 |
|
I. OWNER’S EQUITY |
133,642,090,220 |
125,251,103,527 |
103,158,345,519 |
|
1. Capital |
63,000,000,000 |
63,000,000,000 |
63,000,000,000 |
|
2. Share
premiums |
34,563,108,125 |
34,563,108,125 |
33,884,780,549 |
|
3. Other
sources of capital |
0 |
0 |
|
|
4. Treasury
stocks |
0 |
0 |
|
|
5. Differences
on asset revaluation |
0 |
0 |
|
|
6. Foreign
exchange differences |
13,180,409 |
-274,795,004 |
|
|
7. Business
promotion fund |
6,548,966,123 |
2,047,727,089 |
1,391,228,305 |
|
8. Financial
reserved fund |
4,953,926,610 |
3,829,141,852 |
3,441,444,493 |
|
9. Other funds
|
0 |
0 |
|
|
10. Retained
earnings |
24,562,908,953 |
22,085,921,465 |
1,440,892,172 |
|
11.
Construction investment fund |
|
0 |
|
|
II. Other sources and funds |
-246,403,542 |
186,199,933 |
-73,948,347 |
|
1. Bonus and
welfare funds |
-246,403,542 |
186,199,933 |
-73,948,347 |
|
2. Sources of
expenditure |
0 |
0 |
|
|
3. Fund to
form fixed assets |
0 |
0 |
|
|
MINORITY’S INTEREST |
0 |
0 |
|
|
TOTAL LIABILITIES AND OWNER’S EQUITY |
231,050,819,929 |
232,356,676,432 |
222,192,588,676 |
|
PROFIT & LOSS
STATEMENT |
|||
|
|
|||
|
Description |
FY2010
|
FY2009
|
FY2008
|
|
1. Total |
257,714,017,875 |
243,687,509,707 |
176,816,138,840 |
|
2. Deduction
item |
3,246,342,417 |
6,258,649,361 |
2,887,668,329 |
|
3. Net |
254,467,675,458 |
237,428,860,346 |
173,928,470,511 |
|
4. Costs of
goods sold |
162,385,265,675 |
155,134,461,915 |
121,405,545,302 |
|
5. Gross
profit |
92,082,409,783 |
82,294,398,431 |
52,522,925,209 |
|
6. Financial
income |
2,539,447,841 |
2,986,474,287 |
2,092,572,183 |
|
7. Financial
expenses |
14,346,113,248 |
13,584,952,785 |
11,059,974,838 |
|
- In which:
Loan interest expenses |
6,543,792,952 |
4,199,180,497 |
6,437,722,877 |
|
8. Selling
expenses |
44,385,290,809 |
38,387,479,507 |
26,121,543,500 |
|
9.
Administrative overheads |
9,366,100,072 |
9,937,782,395 |
7,744,062,040 |
|
10. Net
operating profit |
26,524,353,495 |
23,370,658,031 |
9,689,917,014 |
|
11. Other
income |
736,237,222 |
1,219,276,764 |
398,911,790 |
|
12. Other
expenses |
10,653,720 |
2,066,570 |
101,122,837 |
|
13. Other
profit /(loss) |
725,583,502 |
1,217,210,194 |
297,788,953 |
|
14. Total
accounting profit before tax |
27,249,936,997 |
24,587,868,225 |
9,987,705,967 |
|
15. Current
corporate income tax |
4,112,341,399 |
1,906,254,956 |
2,183,459,298 |
|
16. Deferred
corporate income tax |
0 |
185,918,105 |
-185,918,105 |
|
17. Interest
from subsidiaries/related companies |
0 |
|
|
|
18. Profit
after tax |
23,137,595,598 |
22,495,695,164 |
7,990,164,774 |
|
FINANCIAL RATIOS AND AVERAGE INDUSTRY
RATIOS |
||||
|
|
||||
|
Description |
FY2010 |
FY2009 |
FY2008 |
Average Industry |
|
Current
liquidity ratio |
1.98 |
1.68 |
1.44 |
1.74 |
|
Quick
liquidity ratio |
1.28 |
0.99 |
0.83 |
1.02 |
|
Inventory
circle |
2.53 |
2.11 |
1.73 |
3.74 |
|
Average
receive period |
115.49 |
118.01 |
142.45 |
76.97 |
|
Utilizing
asset performance |
1.10 |
1.02 |
0.78 |
1.31 |
|
Liability by
total asset |
42.27 |
46.02 |
53.61 |
49.32 |
|
Liability by
owner equity |
73.21 |
85.24 |
115.54 |
129.21 |
|
Ebit / Total
asset (ROA) |
14.63 |
12.39 |
7.39 |
8.55 |
|
Ebit / Owner's
equity (ROE) |
25.33 |
22.95 |
15.93 |
18.02 |
|
Ebit / Total |
13.11 |
11.81 |
9.29 |
6.82 |
|
Gross profit /
Total Sale (GPM) |
35.73 |
33.77 |
29.70 |
21.89 |
|
Note: The Average Industry was calculated by |
||||
|
CASH FLOW STATEMENT |
|
|
(Indirect method) |
|
|
Items |
FY2010
|
|
I. Cash flows from operating activities |
|
|
1.
Profit before tax |
27,249,936,997 |
|
2.
Adjustments |
|
|
- Depreciation
and amortization |
6,263,444,710 |
|
- Provisions |
450,000,000 |
|
- Unrealized
foreign exchange difference |
|
|
- Gain/loss
from investing activities |
-237,398,250 |
|
- Interest
expense |
6,543,792,952 |
|
3.
Operating profit before movements in working capital |
40,269,776,409 |
|
-
(Increase)/Decrease in receivables |
-707,320,502 |
|
- (Increase)/Decrease
in inventories |
9,293,057,220 |
|
-
Increase/(Decrease) in accounts payable |
-14,874,389,662 |
|
-
(Increase)/Decrease in prepaid expenses |
112,529 |
|
- Interest
paid |
-6,543,792,952 |
|
- Corporate
income tax paid |
-4,025,167,466 |
|
- Other cash
inflows |
4,026,345,110 |
|
- Other cash
outflows |
-168,880,247 |
|
Net cash from
(used in) operating activities |
27,269,740,439 |
|
II. Cash flows from investing activities |
|
|
1. Acquisition
of fixed assets and other long - term assets |
-2,747,102,031 |
|
2. Proceeds
from fixed assets and long - term assets disposal |
|
|
3. Cash
outflow for lending, buying debt instruments of other companies |
|
|
4. Cash recovered
from lending, selling debt instruments of other companies |
|
|
5. Investment
in other entities |
|
|
6. Cash
recovered from investments in other entities |
|
|
7. Interest
income, dividend and profit paid |
237,398,250 |
|
Net cash from (used
in) investing activities |
-2,509,703,781 |
|
III. Cash flows from financing activities |
|
|
1. Proceeds
from issuing stocks, receiving capital from owners |
|
|
2. Capital
withdrawal, buying back issued stocks |
|
|
3. Proceeds
from borrowings |
154,885,271,813 |
|
4. Repayment
of borrowings |
-153,363,211,086 |
|
5. Repayment
of obligations under finance leased |
-15,034,584,318 |
|
6. Dividends
paid |
|
|
Net cash from
(used in) financing activities |
-13,512,523,591 |
|
Net increase/(decrease)
in cash and cash equivalents |
11,247,513,067 |
|
Cash and cash
equivalents at beginning of year |
15,031,956,951 |
|
Effect from
changing foreign exchange rate |
-1,177,644 |
|
Cash and cash
equivalents at end of year |
26,278,292,374 |
PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
Trade Morality |
|
Fair |
|
Liquidity |
|
Medium |
|
Payment status |
|
Above Average |
|
Financial
Situation |
|
Above Average |
|
Development
trend |
|
Stable |
|
Litigation
data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment
Methods |
|
T/T, L/C |
|
|
|
Retailer and
Wholesaler |
|
Public opinion
|
|
Excellent |
|
CREDIT INQUIRY:
125,000 USD – D/A 60 days Acceptable! |
INTERPRETATION ON THE SCORES
|
The subject originally was a
State Owned Enterprise, which was established in 1992. In 2003, the subject
was equitized and changed name to TV.Pharm Pharmaceutical Joint Stock Company
(TV.PHARM). Currently, it has business registration No. 2100274872 (the same tax
code) dated on 20 Aug 2010 by Planning and Investment of Tra Vinh Province
with registered capital of VND 63 billion. The subject is located at TV.PHARM is focusing on manufacturing,
trading, import of kind of new medicines, oriental medicines, medical
components, flavoring, drug, package for making medicine and gear for public
health. The subject is the first company producing most modern soft capsules
in … Financially, business activities
of the subject seem fairly good. The total sales and the profit increased
year on year. The financial leverage and profitability in 2010 are remarkable
in comparison with ones in last year. Generally, the subject’s business
situation is stable. It has a high position in the industry. No caution
needed for small transactions with the subject. |
APPENDIXES
|
INDUSTRY DATA |
||||||
|
|
||||||
|
Industry code |
Growth speed (%) |
Total employees 2009 (Thousand) |
Total enterprises |
Annual average capital of enterprises |
||
|
Predict 2010 |
2009 |
|||||
|
Agriculture, Forestry and Fishing |
2.8 |
3.0 |
24,788.5 |
2,399 |
50,530 |
|
|
Trade and Services |
7.5 |
11 |
10,517.9 |
79,181 |
1,754,973 |
|
|
Construction |
7 |
11.3 |
2,692.8 |
17,783 |
248,268 |
|
|
Manufacturing |
12 |
7.6 |
7,591.2 |
30,786 |
967,068 |
|
|
|
||||||
|
ECONOMIC INDICATORS |
||||||
|
|
||||||
|
|
2010 |
2009 |
2008 |
|||
|
Population (Million person) |
86.93 |
86.02 |
86.1 |
|||
|
Gross Domestic Products (US$ billion) |
102.2 |
91 |
84.9 |
|||
|
GDP Growth (%) |
6.78 |
5.32 |
6.2 |
|||
|
GDP Per Capita (US$) |
1,160 |
1,080 |
1,040 |
|||
|
Inflation (% Change in
Composite CPI) |
11.75 |
6.88 |
24.4 |
|||
|
|
||||||
|
SERVICE TRADE PERFORMANCE |
||||||
|
|
||||||
|
Billion USD |
2010 |
2009 |
2008 |
|||
|
Exports |
71.6 |
56.6 |
62.9 |
|||
|
Imports |
84 |
68.8 |
76.6 |
|||
|
Trade Balance |
-12.4 |
-12.2 |
-14.6 |
|||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.22 |
|
|
1 |
Rs.72.25 |
|
Euro |
1 |
Rs.63.09 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.