MIRA INFORM REPORT

 

 

Report Date :           

12.03.2011

 

IDENTIFICATION DETAILS

 

Name :

ROHTO MENTHOLATUM (VIETNAM) COMPANY LIMITED 

 

 

Registered Office :

Suite 1804-1805 - Floor 18th , Sai Gon Trade Center, No. 37 Ton Duc Thang Street - Ben Nghe Ward - District 1 - Ho Chi Minh City

 

 

Country :

Vietnam

 

 

Financials (as on) :

31.12.2009

 

 

Year of Establishment :

1996

 

 

Com. Reg. No.:

463043000216

 

 

Legal Form :

Foreign Invested Company

 

 

Line of Business :

manufacturing and trading healthcare and cosmetics 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 – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

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

 

English Name

 

ROHTO MENTHOLATUM (VIETNAM) COMPANY LIMITED

Vietnamese Name

 

CONG TY TNHH ROHTO MENTHOLATUM (VIET NAM)

Trade name

 

ROHTO MENTHOLATUM (VIETNAM)CO., LTD

Short name

 

ROHTO MENTHOLATUM (VN)CO., LTD

Type of Business

 

Foreign invested company

Year Established

 

1996

Business Registration No.

 

463043000216

Place of Registration

 

Planning and Investment Department of Hochiminh City

Investment Certificate No

 

04/GP-KCN-VS

Date of investment

 

17 Jul 1997

Place of investment

 

Authority of Binh Duong Industrial Zones

Registered Investment Capital

 

18,000,000 USD

Chartered capital

 

11,000,000 USD

Investment Duration

 

49 years

Tax code

 

3700239769

Total Employees

 

1000

 

 

 

company ADDRESSES

 

Head Office

Address

 

Suite 1804-1805 - Floor 18th , Sai Gon Trade Center, No. 37 Ton Duc Thang Street - Ben Nghe Ward - District 1 - Ho Chi Minh City - Vietnam

Telephone

 

(84-8) 3822 9322 / 3823 6436 / 3823 6437 / 3910 2355

Fax

 

(84-8) 3822 9324

Email

 

enquiries@rohto1.com.vn

Website

 

www.rohto.com.vn

 

Factory Address

Address

 

No. 16 Street 05th - Vietnam – Singapore Industrial Park (VSIP) - Binh Hoa Commune - Thuan An District - Binh Duong Province - Vietnam

Telephone

 

(84-650) 3743 355 / 3743 356 / 3743 357

Fax

 

(84-650) 3743 358

 

 

 

DIRECTORS

 

1 . NAME

 

Mr. MASAYA SAITO

Position

 

General Director

Resident

 

Ho Chi Minh City - Vietnam

Nationality

 

Japanese

Email

 

saito@rohto.com.vn

 

2 . NAME

 

Ms. NGUYEN VINH NGOC ANH

Position

 

Staff of HR-PR Department

Resident

 

Ho Chi Minh City - Vietnam

Nationality

 

Vietnamese

Email

 

ngocanh@rohto1.com.vn

 

3 . NAME

 

Mr. HIROFUMI SHIRAMATSU

Position

 

Deputy General Director

Current resident

 

 Ho Chi Minh City - Vietnam

Nationality

 

Japanese

 

4 . NAME

 

Ms. DO THI BICH HANG

Position

 

Chief Accountant

Resident

 

Ho Chi Minh City - Vietnam

Nationality

 

Vietnamese

 

 

BUSINESS NATURE AND ACTIVITIES

 

The subject registers and operates in manufacturing and trading healthcare and cosmetics products.

 

 

 

IMPORT & EXPORT ACTIVITIES

 

IMPORT:

·         Types of products

 

raw & packaging materials and equipment

·         Market

 

Japan and Asean

 

EXPORT:

·         Types of products

 

Products

·         Market

 

Japan, Indonesia, Cambodia, Bangladesh

 

 

 

BANKERS

 

1. TOKYO MITSUBISHI UFJ

Address

 

Flood 8, Landmark Building, 5B Ton Duc Thang Street - District 1- Ho Chi Minh City - Vietnam

Telephone

 

(84-8) 3823 1560

Fax

 

(84-8) 3823 1559

 

2. JOINT STOCK BANK FOR FOREIGN TRADE OF VIETNAM

Address

 

No. 29 Ben Chuong Duong Str-Nguyen Thai Binh Ward - District 1 - Ho Chi Minh City - Vietnam

Telephone

 

(84-8) 3825 1317

Fax

 

(84-8) 3829 7228

SWIFT Code

 

BFTVVBVX 007

 

 

 

SHAREHOLDERS

 

NAME

 

ROHTO PHARMACEUTICAL CO.,LTD

Address

 

No. 1-8-1 Tatsumi-nishi - Ikuno-ku - Osaka 544-8666 - Japan

Tel

 

81 6 758 9812 / 06-6758-1231

Fax

 

81 6 758 9820

Percentage

 

100%

 

 

 

FINANCIAL HIGHLIGHT

 

BALANCE SHEET

United States : Million VND

Balance sheet date

31/12/2009

31/12/2008

Number of weeks

52

52

ASSETS

A. Current Asset

263,854

211,312

Receivables

69,274

74,033

Inventory

70,056

0

Cash and other current assets

124,524

137,279

B. Long term Asset

114,275

109,567

1. Long term account receivable

26,351

21,909

2. Fixed assets

87,923

87,657

Tangible fixed assets

82,692

87,504

+ Original cost

181,994

177,540

+ Accumulated depreciation value

99,302

90,036

Financial leasehold assets

0

0

Intangible fixed assets

185

152

Construction in progress and other long term asset

5,045

0

TOTAL ASSETS

378,129

320,879

 

LIABILITIES

Payable loans

100,938

74,261

Owner’s Equity

277,191

246,618

TOTAL LIABILITY AND EQUITY

378,129

320,879

 

PROFIT & LOSS STATEMENT

 

Total sale

449,089

380,570

Deductions Items

-

1,314

1. Net sale

-

379,256

2. Cost of goods sold and operation expense

-

361,194

3. Net income from business activities

-

18,062

Income from financial activities

-

0

Expenditure from financial activities

-

0

4. Net income from financial operation

-

0

Irregular income

-

12,573

Irregular expenditure

-

4,743

5. Irregular Profit

-

7,830

6. Total pre-tax profit

-

25,892

 

 

 

PAYMENT HISTORY & PERFORMANCE EXPERIENCES

 

Trade Morality

 

Good

Liquidity

 

N/A

Payment status

 

N/A

Financial Situation

 

Above Average

Development trend

 

Even

Litigation data

 

No

Bankruptcy

 

No

Payment Methods

 

By cash or through the bank

Sale Methods

 

Retailer and Wholesaler

Public opinion

 

N\A

 

 

CREDIT INQUIRY: 125,000 USD

Acceptable!

 

 

 

INTERPRETATION ON THE SCORES

 

The subject, ROHTO MENTHOLATUM VIETNAM CO., LTD is a 100% foreign investment enterprise. The subject is a subsidiary of Rohto Pharmaceutical Co., Ltd (Japan). Its parent set representative office in Hochiminh city in 1996. In July 1997, Rohto Mentholatum Vietnam Co., Ltd was established. In March 1999, factory of Rohto Mentholatum Vietnam Co., Ltd started manufacturing.

Head office of the subject is located at Suite 1804-1805 - Floor 18th , Sai Gon Trade Center, No. 37 Ton Duc Thang Street - Ben Nghe Ward - District 1 - Ho Chi Minh City. And its factory is located at No. 16 No.5 Street - Vietnam – Singapore Industrial Park (VSIP) - Binh Hoa Commune - Thuan An District - Binh Duong Province
The subject is specialized in manufacturing and trading Healthcare and Cosmetics Products. Main products of the subject are much diversified, including eye-drop, anti-pimple cream, lipstick…
Competition capacity of the subject is fairly strong. The subject products are distributed national-wide. Large scale of the subject customers are teenagers. The subject recorded an average annual growth rate of 40 percent over the past 11 years.

It mainly imports materials and machines from Japan and a little number from Asian countries. Its products are not only consumed in domestic market but also be exported to Japan, Cambodia, Bangladesh, …
Premises and facilities of the subject are standard. On December 19th 2007, the subject started work on a project to expand its factory. The subject is constructing a new addition to the factory and storage facilities and put them into use in the end of 2008.
Generally, the management capability of the subject is fair. It is operating effectively and its businesses are expanding. The Subject has prospect of future development. Moreover, according to financial data in recent years, financial situation of the subject is stable. Annual turnover and profits of the subject has grown up well each year. The subject has capability to meet all average transaction

 

 

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.45.21

UK Pound

1

Rs.72.55

Euro

1

Rs.62.43

 

 

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%)

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.