MIRA INFORM REPORT
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Report Date : |
20.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
BOSTON VIETNAM PHARMACEUTICAL JOINT STOCK
COMPANY |
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Registered Office : |
43 Road No.8 VSIP I , Thuan An Town, Binh Duong Province |
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Country : |
Vietnam |
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Financials (as on) : |
31.12.2009 |
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Year of Establishment : |
2007 |
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Com. Reg. No.: |
3700843113 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture of pharmaceuticals, medicinal chemical and botanical products |
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No. of Employees
: |
250 persons |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
Unknown |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Vietnam |
b1 |
b1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUBJECT IDENTIFICATION &
LEGAL FORM
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English Name |
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BOSTON VIETNAM PHARMACEUTICAL JOINT STOCK
COMPANY |
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Vietnamese Name |
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CONG TY CO PHAN DUOC PHAM BOS TON VIET NAM
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Type of Business |
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Joint stock company |
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Year Established |
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2007 |
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Business Registration No. |
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3700843113 |
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Latest adjustment |
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28 Jun 2011 |
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Place of Registration |
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Business Registration Office- Planning and
Investment Department of Binh Duong province |
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Registered capital |
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N/A |
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Tax code |
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3700843113 |
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Total Employees |
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250 |
company ADDRESSES
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Head Office |
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Address |
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43 Road No.8 VSIP I , Thuan An Town, Binh
Duong Province, Vietnam |
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Telephone |
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(84 650) 3769606 |
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Fax |
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(84 650) 3769601 |
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Website |
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Transaction
office in Ho Chi Minh |
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Address |
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76 Le Lai AB Building Floor 11, Ben Thanh
Ward, 1st District, Ho Chi Minh City, Vietnam |
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Telephone |
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(84 8) 35210505 |
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Fax |
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(84 8) 35210606 |
DIRECTORS
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1.
NAME |
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Mr.
LUONG DANG KHOA |
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Position |
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Director |
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Nationality |
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Vietnamese |
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2.
NAME |
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Ms.
HUYNH THI PHUONG LAN |
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Position |
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Human Resource Manager |
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Nationality |
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Vietnamese |
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3.
NAME |
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Ms.
TON NU PHUONG QUYNH |
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Position |
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Chief Accountant |
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Nationality |
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Vietnamese |
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Email |
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quynh.ton@bostonpharma.com.vn |
BUSINESS NATURE AND ACTIVITIES
Manufacture of pharmaceuticals, medicinal chemical and botanical products
IMPORT & EXPORT ACTIVITIES
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IMPORT: |
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·
Types of products |
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Materials |
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·
Market |
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India, EU, US |
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EXPORT: |
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Note: Currently, the subject does not export |
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BANKERS
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VIETTIN
BANK PHU THO TRANSACTION OFFICE |
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Address |
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680 Nguyen Chi Thanh Str, Ward 14 , 11th District, Ho Chi
Minh City, Vietnam |
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Telephone |
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(84-8) 39560976 |
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Fax |
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(84-8) 39560975 |
SHAREHOLDERS
We
stil have not collected full shareholders in details from registration yet.
The subject was known as established by Vietnam Pharmaceutical
Corporation, Boston Pharmaceutical Inc. USA and other individual shareholders
FINANCIAL HIGHLIGHT
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BALANCE
SHEET |
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Unit: One million VND
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Balance sheet
date |
31/12/2009 |
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Number of weeks |
52 |
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ASSETS |
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A. Current Asset
|
15,625 |
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Receivables |
1,595 |
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Inventory |
10,133 |
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Cash and other
current assets |
3,897 |
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B. Long term
Asset |
126,761 |
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1. Long term
account receivable |
0 |
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2. Fixed assets |
126,761 |
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Tangible fixed assets |
1,818 |
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+ Original cost |
1,818 |
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+ Accumulated depreciation value |
0 |
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Financial leasehold assets |
0 |
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Intangible fixed assets |
5,095 |
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Construction in progress and other long term asset |
119,848 |
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TOTAL ASSETS |
142,386 |
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LIABILITIES |
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Payable loans |
92,304 |
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Owner’s Equity |
50,082 |
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TOTAL LIABILITY
AND EQUITY |
142,386 |
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PROFIT & LOSS STATEMENT |
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1. Total Sales |
2,543 |
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2. Deduction item |
5 |
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3. Net sale |
2,538 |
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4. Costs of goods sold |
1,707 |
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5. Gross profit |
831 |
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6. Financial income |
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7. Financial expenses |
0 |
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8. Selling expenses and Administrative overheads |
1,538 |
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9. Net operating profit |
-707 |
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10. Other income |
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11. Other expenses |
0 |
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12. Other profit /(loss) |
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13. Total accounting profit before tax |
-707 |
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14. Current corporate income tax |
0 |
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15. Deferred corporate income tax |
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16. Interest from subsidiaries/related companies |
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17. Profit after tax |
-707 |
PAYMENT HISTORY & PERFORMANCE EXPERIENCES
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Trade Morality |
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Normal |
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Liquidity |
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N/A |
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Payment status |
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N/A |
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Financial Situation |
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Average |
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Development trend |
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N/A |
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Litigation data |
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No Record |
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Bankruptcy |
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No Record |
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Sale Methods |
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Wholesaler |
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Public opinion |
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Normal |
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CREDIT INQUIRY: 125,000 USD D/A terms |
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Caution needed |
INTERPRETATION ON THE SCORES
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The subject was established in
2007 by Vietnam Pharmaceutical Corporation, Boston Pharmaceutical Inc. USA
and other individual shareholders. The subject specialized in
manufacturing and distributing pharmaceutical products, supplement foods with
quality is equivalent with foreign
pharmaceutical products imported from EU, USA. The subject was granted for
GMP WHO, VSATTP certificate in 2009. At the present, the subject manufactured
about 100 kinds of products which were distributed throughout country. Most of assembly was imported
from G7 countries such as US, Germany… So, the premises and facilities are
adaptable with international standard. Addition to, the subject has built up
professional human recourses. The B credit estimates on the
subject reflects that the subject has capacity to meet with small business
commitments. |
APPENDIX
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INDUSTRY DATA |
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Industry code |
Growth speed by
price compared with 1994 (%) |
Total
enterprises 2009 |
Total employees
2010 (Thous.pers.) |
Annual average
capital of enterprises 2009 (billion dongs) |
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|
2010 |
2009 |
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Agriculture,
Forestry and Fishing |
2.78 |
1.82 |
8,749 |
23,896.3 |
81,559 |
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Industry and
Construction |
7.70 |
5.52 |
85,115 |
10,630 |
2,751,975 |
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Trade and Services |
7.52 |
6.63 |
154,978 |
14,522 |
4,939,069 |
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ECONOMIC
INDICATORS |
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2010 |
2009 |
2008 |
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Population (Million person) |
86.93 |
86.02 |
86.1 |
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Gross Domestic Products (US$ billion) |
102.2 |
91 |
84.9 |
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GDP Growth (%) |
6.78 |
5.32 |
6.2 |
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GDP Per Capita (US$) |
1,160 |
1,080 |
1,040 |
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Inflation (% Change in Composite CPI) |
11.75 |
6.88 |
24.4 |
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SERVICE TRADE
PERFORMANCE |
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Billion USD |
2010 |
2009 |
2008 |
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Exports |
72.2 |
57.1 |
62.7 |
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Imports |
84.8 |
69.9 |
80.7 |
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Trade Balance |
-12.6 |
-12.8 |
-18 |
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Source: General
Statistics Office
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.96 |
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UK Pound |
1 |
Rs.82.04 |
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Euro |
1 |
Rs.68.91 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.