MIRA INFORM REPORT
|
Report Date : |
08.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
MEDIPLANTEX NATIONAL PHARMACEUTICAL JOINT
STOCK COMPANY |
|
|
|
|
Registered Office : |
358 Giai Phong St - Phuong Liet ward - Thanh Xuan District - Ha Noi
City |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Year of Establishment : |
1958 |
|
|
|
|
Com. Reg. No.: |
0100108430 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing pharmaceutical products |
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Vietnam |
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
|
||
|
Registered English Name |
|
MEDIPLANTEX NATIONAL PHARMACEUTICAL JOINT
STOCK COMPANY |
|
Registered Vietnamese Name |
|
CONG TY CO PHAN DUOC TRUNG UONG
MEDIPLANTEX |
|
Trade name |
|
MP |
|
Registered Short name |
|
MEDIPLANTEX., JSC |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
1958 |
|
Equitization Decision |
|
4410/QD-BYT |
|
Date of Issuance |
|
07 Dec 2004 |
|
Place of Issuance |
|
Ministry of Health |
|
Business Registration No. |
|
0100108430 |
|
Date of Registration |
|
24 Aug 2010 |
|
Place of Registration |
|
Hanoi Department of Planning and
Investment |
|
Current registered capital |
|
50,241,000,000 VND |
|
Tax code |
|
0100108430 |
|
Total Employees |
|
530 |
|
Note: The
subject was established in 1958 as a state owned company, at that time, it
belonged to the Ministry of home trade and its name is “Cong Ty Thuoc Nam –
Thuoc Bac”. In 1971, its name was changed into “Cong Ty Duoc Lieu Cap
1”. Then, in 1984, its name was changed to “Cong Ty Duoc Lieu Trung Uong 1”
and now its name is above. |
||
Historical Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Registered Vietnamese
Name: Cong ty thuoc Nam – thuoc Bac Changed to: Cong ty Cong ty duoc lieu cap
I, Changed to: Cong ty Duoc lieu Trung uong 1 |
1984 |
|
2 |
Subject has got former Business
Registration No: 108216, Issuance on May 22nd 1993 Changed to: 0103007436 |
12
Apr 2005 |
|
3 |
Subject has got former registered capital:
50,136,000,000 VND Changed to: 50,241,000,000 VND |
03
Jun 2008 |
|
4 |
Subject has got former Type of Business:
State owned company Changed to: Joint stock company pursuant to decision No
4410/QĐ-BYT |
07
Dec 2004 |
|
5 |
Subject has got former Registered
Vietnamese Name: Cong ty Duoc lieu Trung uong 1 Changed to: Cong ty co phan duoc Trung
uong Mediplantex |
12
Apr 2005 |
|
6 |
Subject has got former Registered English Name:
National Medicinal Plant Company No.I Changed to: Mediplantex National
Pharmaceutical joint stock company |
12
Apr 2005 |
|
7 |
Subject has got former Business
Registration No. 0103007436 Changed to: The same tax code No.
0100108430 |
24
Aug 2010 |
company ADDRESSES
|
Head Office and
Factory No. 1 |
||
|
Address |
|
358 Giai Phong St - Phuong Liet ward -
Thanh Xuan District - Ha Noi City - Vietnam |
|
Telephone |
|
(84-4) 38643368 / 38643367 / 38643363 |
|
Fax |
|
(84-4) 38641584 |
|
Email |
|
|
|
Website |
|
|
|
Note: The exact address and E-mail of the subject is above
(Phuong Liet Ward not Trung Liet
Ward, meplan@fpt.vn
not Meplan@Fpt.Vn) |
||
|
|
||
|
Factory No. 2
Address |
||
|
Address |
|
Tien Phong Ward - Me Linh District - Ha
Noi City - Vietnam |
|
|
||
|
Branch in Ho Chi
Minh |
||
|
Address |
|
266/4 To Hien Thanh Str - Ward 15 - 10
District - Ho Chi Minh City - Vietnam |
|
Telephone |
|
(84-8) 39700321 |
|
Fax |
|
(84-8) 39700321 |
|
Manager |
|
Mr. VU ANH TUAN |
|
Note: Currently, the address of branch in Ho Chi Minh
is above. |
||
|
|
||
|
Branch in Dak
Lak |
||
|
Address |
|
249 Nguyen Du Str - Buon Ma Thuot City -
Dak Lak Province - Vietnam |
|
Telephone |
|
(84-50) 3856015 |
|
Fax |
|
(84-50) 3856015 |
|
|
||
|
Branch in Bac
Giang |
||
|
Address |
|
Alley 3 - Nguyen Van Cu Str - Bac Giang
City - Bac Giang Province - Vietnam |
|
Telephone |
|
(84-240) 3856 777 |
|
Fax |
|
(84-240) 3554 565 |
|
Note: Besides,
the subject also has many rep.office, branches and pharmacy in many other provinces
of Vietnam. It also has one rep.office in Laos. |
||
DIRECTORS
|
1.
NAME |
|
Mr.
TRAN BINH DUYEN |
|
Position |
|
Chairman |
|
Date of Birth |
|
02 Mar 1947 |
|
ID Number/Passport |
|
011800636 |
|
ID Issue Date |
|
23 Jul 1993 |
|
ID Issue Place |
|
Police of Hanoi city |
|
Resident |
|
No.10 - 183 Alley -
Dang Tien Dong - Trung Liet Ward - Dong Da District - Ha Noi City - Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
(84-4) 38643363 |
|
|
||
|
2.
NAME |
|
Mrs.
DOAN THI HONG THUY |
|
Position |
|
General Director |
|
Date of Birth |
|
18 Sep 1950 |
|
ID Number/Passport |
|
011095016 |
|
ID Issue Date |
|
03 Jul 2000 |
|
ID Issue Place |
|
Hanoi Public Security
Dept |
|
Resident |
|
137 Trung Liet Str -
Dong Da District - Ha Noi City - Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
(84-4) 38647416 |
|
|
||
|
3.
NAME |
|
Mrs.
NGUYEN THI TOAN |
|
Position |
|
Deputy General Director |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
(84-4) 38643363 |
|
|
||
|
4.
NAME |
|
Mr.
HA XUAN SON |
|
Position |
|
Deputy General Director |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
(84-4) 38643363 |
|
|
||
|
5.
NAME |
|
Mr.
PHUNG MINH DUNG |
|
Position |
|
Deputy General Director |
|
Nationality |
|
Vietnamese |
BUSINESS NATURE AND ACTIVITIES
|
-
Manufacturing pharmaceutical products. - Trading in pharmaceutical products, cosmetics,
nutritional foods |
IMPORT & EXPORT ACTIVITIES
|
IMPORT: |
||
|
·
Types of products |
|
Materials |
|
·
Market |
|
Canada (Tenamid Corp), Denmark, France, India, Korea … |
|
·
Mode of payment |
|
L/C; T/T |
|
|
||
|
EXPORT: |
||
|
·
Types of products |
|
Finished products |
|
·
Market |
|
Japan, China, Laos, Cambodia, Russia … |
|
·
Mode of payment |
|
L/C; T/T |
BANKERS
|
1.
JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM TRANSACTION CENTER
(Vietcombank) |
||
|
Address |
|
No 31 -33 Ngo Quyen - Hoan Kiem District - Ha Noi City - Vietnam |
|
Telephone |
|
(84-4) 39368547 |
|
Fax |
|
(84-4) 38241395 / 39365534 |
|
Note: Formerly, the subject transacted with
Vietcombank at No. 198 Tran Quang Khai Street - Hoan Kiem District - Ha Noi
City – Vietnam but now it transacts with Vietcombank at address as above. |
||
|
|
||
|
2.
BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM THANG LONG BRANCH |
||
|
Address |
|
No.8 Pham Hung - Cau Giay District - Ha Noi City - Vietnam |
|
Telephone |
|
(84-4) 3838 7118 |
|
Fax |
|
(84-4) 3836 3704 |
|
|
||
|
3.
VIET NAM BANK FOR AGRICULTURE AND RURAL DEVELOPMENT LANG HA BRANCH |
||
|
Address |
|
No.24 Lang Ha Street - Dong Da District - Ha Noi City - Vietnam |
|
Telephone |
|
(84-4) 37763773 |
|
Fax |
|
(84-4) 38312250 |
|
VND Account |
|
1400.311.0102.79 |
SHAREHOLDERS
|
1.
NAME |
|
VIETNAM
PHARMACEUTICAL CORPORATION |
|
Business Registration |
|
0106001031 |
|
Date of Registration |
|
16 Dec 2008 |
|
Place of Registration |
|
Ha Noi City Department of Planning and Investment |
|
Representative |
|
HA XUAN SON |
|
Registered Capital |
|
269,629,776,752 VND |
|
Tax code |
|
0100109385 |
|
Address |
|
No.138B Giang Vo Str - Ba Dinh District - Ha
Noi City - Vietnam |
|
Tel |
|
(84-4) 3844 3153/ 3844 3151 |
|
Fax |
|
(84-4) 3844 3665 |
|
Number of shares |
|
571,000 |
|
Value of shares |
|
5,710,000,000 VND |
|
Percentage |
|
11.37% |
|
|
||
|
2.
NAME |
|
663
OTHER SHAREHOLDERS |
|
Number of shares |
|
4,453,100 |
|
Value of shares |
|
44,531,000,000 VND |
|
Percentage |
|
88.63% |
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 |
195,510,031,165 |
234,234,069,494 |
220,575,000,000 |
|
I. Cash and cash
equivalents |
6,648,109,322 |
30,161,957,188 |
7,282,000,000 |
|
1. Cash |
6,648,109,322 |
30,161,957,188 |
7,282,000,000 |
|
2. Cash equivalents |
0 |
0 |
0 |
|
II. Short-term
investments |
0 |
0 |
0 |
|
1. Short-term investments |
0 |
0 |
0 |
|
2. Provisions for devaluation of short-term investments |
0 |
0 |
0 |
|
III. Accounts
receivable |
117,382,297,896 |
117,583,302,069 |
82,368,000,000 |
|
1. Receivable from customers |
112,086,828,032 |
113,493,186,746 |
73,726,000,000 |
|
2. Prepayments to suppliers |
4,338,082,437 |
3,129,854,807 |
4,557,000,000 |
|
3. Inter-company receivable |
0 |
0 |
0 |
|
4. Receivable according to the progress of construction |
0 |
0 |
0 |
|
5. Other receivable |
957,387,427 |
960,260,516 |
4,085,000,000 |
|
6. Provisions for bad debts |
0 |
0 |
0 |
|
IV. Inventories |
69,028,655,278 |
83,672,994,465 |
127,008,000,000 |
|
1. Inventories |
69,366,372,110 |
84,466,486,589 |
127,169,000,000 |
|
2. Provisions for devaluation of inventories |
-337,716,832 |
-793,492,124 |
-161,000,000 |
|
V. Other Current
Assets |
2,450,968,669 |
2,815,815,772 |
3,917,000,000 |
|
1. Short-term prepaid expenses |
0 |
0 |
0 |
|
2. VAT to be deducted |
860,045,601 |
951,190,767 |
1,511,000,000 |
|
3. Taxes and other accounts receivable from the State |
0 |
0 |
28,000,000 |
|
4. Other current assets |
1,590,923,068 |
1,864,625,005 |
2,378,000,000 |
|
B. LONG-TERM
ASSETS |
94,281,063,015 |
92,146,248,393 |
88,370,000,000 |
|
I. Long term
account receivable |
0 |
0 |
0 |
|
1. Long term account receivable from customers |
0 |
0 |
0 |
|
2. Working capital in affiliates |
0 |
0 |
0 |
|
3. Long-term inter-company receivable |
0 |
0 |
0 |
|
4. Other long-term receivable |
0 |
0 |
0 |
|
5. Provisions for bad debts from customers |
0 |
0 |
0 |
|
II. Fixed assets
|
78,836,540,877 |
82,304,468,180 |
80,422,000,000 |
|
1. Tangible assets |
62,752,837,108 |
66,558,310,774 |
70,164,000,000 |
|
- Historical costs |
98,641,493,475 |
95,580,574,038 |
92,687,000,000 |
|
- Accumulated depreciation |
-35,888,656,367 |
-29,022,263,264 |
-22,523,000,000 |
|
2. Financial leasehold assets |
0 |
0 |
0 |
|
- Historical costs |
0 |
0 |
0 |
|
- Accumulated depreciation |
0 |
0 |
0 |
|
3. Intangible assets |
782,322,774 |
5,942,088,685 |
6,090,000,000 |
|
- Initial costs |
910,925,328 |
6,220,255,965 |
6,200,000,000 |
|
- Accumulated amortization |
-128,602,554 |
-278,167,280 |
-110,000,000 |
|
4. Construction-in-progress |
15,301,380,995 |
9,804,068,721 |
4,168,000,000 |
|
III. Investment
property |
0 |
0 |
0 |
|
Historical costs |
0 |
0 |
0 |
|
Accumulated depreciation |
0 |
0 |
0 |
|
IV. Long-term
investments |
1,395,523,427 |
1,395,523,427 |
100,000,000 |
|
1. Investments in affiliates |
0 |
0 |
0 |
|
2. Investments in business concerns and joint ventures |
0 |
0 |
0 |
|
3. Other long-term investments |
1,395,523,427 |
1,395,523,427 |
100,000,000 |
|
4. Provisions for devaluation of long-term investments |
0 |
0 |
0 |
|
V. Other long-term
assets |
14,048,998,711 |
8,446,256,786 |
7,848,000,000 |
|
1. Long-term prepaid expenses |
14,048,998,711 |
8,446,256,786 |
7,848,000,000 |
|
2. Deferred income tax assets |
|
|
0 |
|
3. Other long-term assets |
0 |
0 |
0 |
|
VI. Goodwill |
0 |
0 |
|
|
1. Goodwill |
0 |
0 |
|
|
TOTAL ASSETS |
289,791,094,180 |
326,380,317,887 |
308,945,000,000 |
|
|
|||
|
LIABILITIES |
|||
|
A- LIABILITIES |
187,261,576,302 |
221,522,934,478 |
208,608,000,000 |
|
I. Current
liabilities |
181,804,406,579 |
217,240,682,769 |
201,281,000,000 |
|
1. Short-term debts and loans |
98,181,235,472 |
138,909,999,941 |
155,709,000,000 |
|
2. Payable to suppliers |
61,084,681,205 |
52,849,242,020 |
41,295,000,000 |
|
3. Advances from customers |
1,878,613,024 |
5,399,429,973 |
1,244,000,000 |
|
4. Taxes and other obligations to the State Budget |
1,257,389,626 |
1,783,493,293 |
282,000,000 |
|
5. Payable to employees |
772,063,701 |
443,074,432 |
525,000,000 |
|
6. Accrued expenses |
1,530,424,507 |
|
1,915,000,000 |
|
7. Inter-company payable |
0 |
0 |
0 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
0 |
|
9. Other payable |
17,099,999,044 |
17,855,443,110 |
311,000,000 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
0 |
|
II. Long-Term
Liabilities |
5,457,169,723 |
4,282,251,709 |
7,327,000,000 |
|
1. Long-term accounts payable to suppliers |
0 |
0 |
0 |
|
2. Long-term inter-company payable |
0 |
0 |
0 |
|
3. Other long-term payable |
0 |
0 |
0 |
|
4. Long-term debts and loans |
5,397,556,123 |
4,222,638,109 |
7,243,000,000 |
|
5. Deferred income tax payable |
0 |
0 |
0 |
|
6. Provisions for unemployment allowances |
59,613,600 |
59,613,600 |
84,000,000 |
|
7. Provisions for long-term accounts payable |
0 |
0 |
0 |
|
B- OWNER’S
EQUITY |
102,529,517,878 |
104,857,383,409 |
100,337,000,000 |
|
I. OWNER’S
EQUITY |
101,214,985,622 |
103,181,478,473 |
98,212,000,000 |
|
1. Capital |
50,241,000,000 |
50,241,000,000 |
50,241,000,000 |
|
2. Share premiums |
42,083,900,000 |
42,083,900,000 |
42,084,000,000 |
|
3. Other sources of capital |
0 |
0 |
0 |
|
4. Treasury stocks |
0 |
0 |
0 |
|
5. Differences on asset revaluation |
0 |
0 |
0 |
|
6. Foreign exchange differences |
-346,579,693 |
-908,317,328 |
0 |
|
7. Business promotion fund |
1,531,134,413 |
24,711,024 |
25,000,000 |
|
8. Financial reserved fund |
2,763,900,994 |
2,417,800,033 |
2,418,000,000 |
|
9. Other funds |
0 |
0 |
0 |
|
10. Retained earnings |
4,941,629,908 |
9,322,384,744 |
3,444,000,000 |
|
11. Construction investment fund |
0 |
0 |
0 |
|
II. Other
sources and funds |
1,314,532,256 |
1,675,904,936 |
2,125,000,000 |
|
1. Bonus and welfare funds |
294,649,573 |
310,077,717 |
344,000,000 |
|
2. Sources of expenditure |
24,230,882 |
4,230,882 |
842,000,000 |
|
3. Fund to form fixed assets |
995,651,801 |
1,361,596,337 |
939,000,000 |
|
MINORITY’S
INTEREST |
0 |
0 |
0 |
|
TOTAL
LIABILITIES AND OWNER’S EQUITY |
289,791,094,180 |
326,380,317,887 |
308,945,000,000 |
|
PROFIT
& LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2010 |
FY2009 |
FY2008 |
|
1. Total Sale |
494,342,400,519 |
499,458,529,436 |
418,326,000,000 |
|
2. Deduction item |
5,508,266,430 |
3,036,821,567 |
1,451,000,000 |
|
3. Net sales |
488,834,134,089 |
496,421,707,869 |
416,875,000,000 |
|
4. Costs of goods sold |
431,497,461,047 |
436,238,935,229 |
360,191,000,000 |
|
5. Gross profit |
57,336,673,042 |
60,182,772,640 |
56,684,000,000 |
|
6. Financial income |
1,392,498,815 |
3,492,129,654 |
5,456,000,000 |
|
7. Financial expenses |
16,383,675,943 |
19,409,011,101 |
23,228,000,000 |
|
- In which: Loan interest expenses |
15,248,303,458 |
18,524,986,557 |
14,674,000,000 |
|
8. Selling expenses |
22,215,974,710 |
26,284,612,068 |
21,235,000,000 |
|
9. Administrative overheads |
15,398,336,482 |
15,591,074,831 |
16,538,000,000 |
|
10. Net operating profit |
4,731,184,722 |
2,390,204,294 |
1,139,000,000 |
|
11. Other income |
494,455,169 |
6,921,560,909 |
2,075,000,000 |
|
12. Other expenses |
182,162,968 |
29,185,777 |
70,000,000 |
|
13. Other profit /(loss) |
312,292,201 |
6,892,375,132 |
2,005,000,000 |
|
14. Total accounting profit before tax |
5,043,476,923 |
9,282,579,426 |
3,144,000,000 |
|
15. Current corporate income tax |
1,275,592,553 |
1,200,237,648 |
435,000,000 |
|
16. Deferred corporate income tax |
0 |
0 |
0 |
|
17. Interest from subsidiaries/related companies |
0 |
0 |
|
|
18. Profit after tax |
3,767,884,370 |
8,082,341,778 |
2,709,000,000 |
|
|
||||
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
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Description |
FY2010 |
FY2009 |
FY2008 |
Average Industry |
|
Current liquidity ratio |
1.08 |
1.08 |
1.10 |
1.74 |
|
Quick liquidity ratio |
0.70 |
0.69 |
0.46 |
1.02 |
|
Inventory circle |
5.65 |
5.21 |
2.86 |
3.74 |
|
Average receive period |
87.65 |
86.45 |
72.12 |
76.97 |
|
Utilizing asset performance |
1.69 |
1.52 |
1.35 |
1.31 |
|
Liability by total asset |
64.62 |
67.87 |
67.52 |
49.32 |
|
Liability by owner equity |
182.64 |
211.26 |
207.91 |
129.21 |
|
Ebit / Total asset (ROA) |
7.00 |
8.52 |
5.77 |
8.55 |
|
Ebit / Owner's equity (ROE) |
19.79 |
26.52 |
17.76 |
18.02 |
|
Ebit / Total sales (NPM) |
4.10 |
5.57 |
4.26 |
6.82 |
|
Gross profit / Total sales
(GPM) |
11.60 |
12.05 |
13.55 |
21.89 |
|
Note: The Average Industry was calculated by Vietnam Credit based on our
owned statistical data |
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PAYMENT HISTORY & PERFORMANCE
EXPERIENCES
|
Trade Morality |
|
Good |
|
Liquidity |
|
Medium/High |
|
Payment status |
|
Above Average |
|
Financial Situation |
|
Above Average |
|
Development trend |
|
Positive |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
TT, L/C |
|
Sale Methods |
|
Retailer and Wholesaler |
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CREDIT INQUIRY: 2,000 USD Against DA in terms Acceptable |
INTERPRETATION ON THE SCORES
|
The subject
was established in 1958 as a state owned company, at that time, it belonged
to the Ministry of home trade and its name is “Cong ty thuoc Nam – thuoc
Bac”. After many years of operation and development, its name was changed for
many times. Up to 2005, it made its equitization to become joint stock
company according to the decision No. 4410/QD-BYT of Ministry of Health, then
it have had name as current name. Currently,
the subject is operating under the business registration No. 0100108430, same
to the tax code, granted by Hanoi Department of Planning and Investment with
the registered capital of VND 50,241,000,000. The
premises and facilities of the subject is so good. Besides the head office
and factory No. 1 at No. 358 Giai Phong Street – Phuong Liet Ward – Thanh
Xuan District – Hanoi City, the subject also has factory No. 2 in Vinh Phuc
Province, a representative office in Laos and some branches in other
provinces in Vietnam. The factory No. 2 has areas of 20,000 square meters; it
started running in 2007 and was afforded GMP – WHO, GLP, GSP certificates. Until
the first days, the subject focuses on the field of pharmaceutical and
related products. Beside pharmaceutical products it has been operating in the
fields of plantation, production, and export of various species of material
pharmacy from medical plants for many years such as Artemisia annual, Saphora
japonica, Peppermint, etc. The subject has business relationship with over 20
foreign partners all over the world. The subject is considered a large trader
in pharmaceutical industry. The subject’s brand – Mediplantex is very
well-known on the market. In 2010, Mediplantex is certified Top 100 Leading
Vietnamese Trademark granted by Vietnam Union of Science and Technology
Associations. Besides, it also was awarded many other achievements. The
subject imports and trades a large amount of products in Northern region of
Vietnam. The position in the industry of the subject is good. Its market
share is large. Now, the subject exports products to Laos, Myanmar, India,
Russia… Distributing system of the subject is widened across the country and
to some other countries in the world. The
financial status of the subject is stable. At a glance, operational ratio,
financial leverage ratio of the subject is fairly good in comparison with
average industry. Although its turnover is good, profit is not corresponding
to scale of the company. Currently, the subject has two factory are operating
and material fields for pharmaceutical production; however costs of goods sold
are fairly high. The following chart shows the total sales and profit after tax that subject achieved
from 2006 to 2010.
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APPENDIXES
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INDUSTRY DATA |
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Industry code |
Growth speed (%) |
Total employees
2009 (Thousand) |
Total enterprises |
Annual average
capital of enterprises |
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|
Predict 2010 |
2009 |
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|
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 |
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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 |
71.6 |
56.6 |
62.9 |
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Imports |
84 |
68.8 |
76.6 |
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|
Trade Balance |
-12.4 |
-12.2 |
-14.6 |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.74 |
|
UK Pound |
1 |
Rs.73.25 |
|
Euro |
1 |
Rs.65.48 |
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 |
|
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NB |
New Business |
---- |
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.