MIRA INFORM REPORT
|
Report Date : |
28.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
RUBY COMPANY LIMITED |
|
|
|
|
Registered Office : |
No. 80 Ha Huy |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Year of Establishment : |
1999 |
|
|
|
|
Com. Reg. No.: |
070859 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Trading in materials for producing
veterinary medicine, animal feed and shrimp/fish feed |
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 |
|
RUBY COMPANY LIMITED |
|
Vietnamese Name |
|
CONG TY TNHH RUBY |
|
Trade name |
|
RUBY COMPANY LIMITED |
|
Short name |
|
RUBY CO., LTD |
|
Type of Business |
|
Limited liability company |
|
Year Established |
|
1999 |
|
Establishment Decision |
|
313/GP-TLDN |
|
Date of Issuance |
|
03 Feb 1999 |
|
Place of Issuance |
|
People’s Committee of Hochiminh City |
|
Business Registration No. |
|
070859 |
|
Date of Registration |
|
06 Feb 1999 |
|
Place of Registration |
|
Business Registration Department of |
|
Current registered capital |
|
50,000,000,000 VND |
|
Tax code |
|
0301636134 |
|
Total Employees |
|
94 |
Historical Identification & Legal form
|
List |
Changed Items |
|
1 |
Subject has got former Registered English Name: RUBY TRADING AND
VETERINARY MEDICINE PRODUCTION CO., LTD Changed to: RUBY COMPANY LIMITED |
|
2 |
Subject has got former Registered Vietnamese Name: CONG TY TNHH THUONG
MAI SAN XUAT THUOC THU Y RUBY Changed to: CONG TY TNHH RUBY |
|
3 |
Subject has got former registered capital: 15,000,000,000 VND Changed to: 50,000,000,000 VND |
company ADDRESSES
|
Head Office |
||
|
Address |
|
No. 80 Ha Huy |
|
Telephone |
|
(84-8) 3716 2097/ 3716 2098 / 3716 2099 /
3716 2526 / 3716 1867 |
|
Fax |
|
(84-8) 3716 2100 |
|
Email |
|
|
|
The given address (No 80A Ha Huy Tap Str, Thanh Loc Ward, Dist 12, HCM)
is not quite correct. The correct one is above. |
||
|
Registration
Address |
||
|
Address |
|
No |
|
Telephone |
|
(84-8) 3991 0225 |
|
Fax |
|
(84-8) 3845 0098 |
|
|
||
|
Workshop Address
|
||
|
Address |
|
No 41/1K Quang Trung Street, Ward 12 - Go
Vap District - Ho Chi Minh City - Vietnam |
|
Telephone |
|
(84-8) 3987 4452 |
|
Manager |
|
Mr. CAO THANH NGOC |
|
|
||
|
Branch in Ho Chi
Minh |
||
|
Address |
|
No 35 - Quarter 3rd - Thanh Loc Ward
– District 12 - |
|
Telephone |
|
(84-8) 3716 1864 |
|
Manager |
|
Ms. LE THI HONG |
|
|
||
|
Warehouse |
||
|
Address |
|
Chieu Lieu Hamlet - Tan Dong Hiep Commune
- Di An Town - |
|
|
||
|
Warehouse |
||
|
Address |
|
Ong Dong Hamlet - Tan Hiep Commune - Tan
Uyen District - |
DIRECTORS
|
1
. NAME |
|
Mr.
CAO VAN TRIEU |
|
Position |
|
Director |
|
Education |
|
Master of Veterinary and Breeding |
|
Date of Birth |
|
15 Jul 1950 |
|
ID Number/Passport |
|
023722367 |
|
Resident |
|
No. 305E/79 Huynh Van
Banh Str, Ward 11 - Phu Nhuan District - Ho Chi Minh City - Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
+84 903 904 350 |
|
|
||
|
2
. NAME |
|
Mr.
CAO THANH NGOC |
|
Position |
|
Deputy Director |
|
ID Number/Passport |
|
023127564 |
|
Resident |
|
No. 268 Huynh Van
Banh Str, Ward 11 - Phu Nhuan District - Ho Chi Minh City - Vietnam |
|
Qualification |
|
Bachelor |
|
|
||
|
3
. NAME |
|
Ms.
LE THI HONG |
|
Position |
|
Deputy Director |
|
Nationality |
|
Vietnamese |
|
|
||
|
4
. NAME |
|
Mr.
CAO HUY THONG |
|
Position |
|
Deputy Director |
|
Nationality |
|
Vietnamese |
|
|
||
|
5
. NAME |
|
Mr.
LE MINH TRUNG |
|
Position |
|
Chief Accountant |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
+84 902 333 486 |
|
Qualification |
|
Bachelor |
BUSINESS NATURE AND ACTIVITIES
|
The subject specializes in the following
activities: |
IMPORT
& EXPORT ACTIVITIES
|
IMPORT: |
||
|
·
Types of products |
|
Materials, Goods |
|
·
Market |
|
|
|
·
Mode of payment |
|
L/C |
|
|
||
|
EXPORT: |
||
|
·
Types of products |
|
N/A |
BANKERS
|
1.
JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF |
||
|
Address |
|
No. 29 Ben Chuong Duong - District 1- |
|
Telephone |
|
(84-8) 3829 7245 - 3823 0310 - 3823 0311 |
|
Fax |
|
(84-8) 3829 7228 |
|
Foreign Currency Account |
|
007.137.0275.226 |
|
VND Account |
|
007.100.0275.188 |
|
SWIFT Code |
|
BFTVVNVX 007 |
|
|
||
|
2.
LIEN VIET COMMERCIAL JOINT STOCK BANK HO CHI MINH BRANCH |
||
|
Address |
|
No. 2A Nguyen Minh Khai Str, Da Kao Ward- District 1 - |
|
Telephone |
|
(84-08) 6 2668668 |
|
Fax |
|
(84-08) 6 2669669 |
|
VND Account |
|
45005000001387040015 |
|
|
||
|
3.
VIET NAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE |
||
|
Address |
|
|
|
Telephone |
|
84-8) 39143183 |
|
Fax |
|
(84-8) 39143193 |
|
Foreign Currency Account |
|
102020000012361 |
|
VND Account |
|
102010000103048 |
|
SWIFT Code |
|
ICBVVNVX |
SHAREHOLDERS
|
1
. NAME |
|
Mr.
CAO VAN TRIEU |
|
Position |
|
Director |
|
Date of Birth |
|
15 Jul 1950 |
|
ID Number/Passport |
|
023722367 |
|
Issued on |
|
08 May 1999 |
|
Issued Place |
|
Police station of Hochiminh city |
|
Resident |
|
No. 305E/79 Huynh Van Banh Str, Ward 11 -
Phu Nhuan District - |
|
Mobile phone |
|
+84 903 904 350 |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
30,000,000,000 VND |
|
Percentage |
|
60% |
|
|
||
|
2
. NAME |
|
Mr.
CAO THANH NGOC |
|
Position |
|
Deputy Director |
|
ID Number/Passport |
|
023127564 |
|
Resident |
|
No. 268 Huynh Van Banh Str, Ward 11 - Phu
Nhuan District - |
|
Mobile phone |
|
+84 903 904 350 |
|
Value of shares |
|
20,000,000,000 VND |
|
Percentage |
|
40% |
FINANCIAL
DATA
|
BALANCE
SHEET |
|||
Unit: One VND
|
|||
|
Balance sheet
date |
31/12/2009 |
31/12/2008 |
31/12/2007 |
|
Number of weeks |
52 |
52 |
52 |
|
ASSETS |
|||
|
A – CURRENT
ASSETS |
130,759,172,755 |
67,692,000,000 |
91,335,000,000 |
|
I. Cash and cash
equivalents |
9,125,886,878 |
3,667,000,000 |
2,713,000,000 |
|
1. Cash |
9,125,886,878 |
3,667,000,000 |
2,713,000,000 |
|
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 |
57,094,776,846 |
31,489,000,000 |
48,374,000,000 |
|
1. Receivable from customers |
55,285,586,454 |
31,155,000,000 |
46,675,000,000 |
|
2. Prepayments to suppliers |
1,809,190,392 |
334,000,000 |
1,699,000,000 |
|
3. Inter-company receivable |
|
0 |
0 |
|
4. Receivable according to the progress of construction |
|
0 |
0 |
|
5. Other receivable |
|
0 |
0 |
|
6. Provisions for bad debts |
|
0 |
0 |
|
IV. Inventories |
56,315,117,960 |
32,533,000,000 |
40,248,000,000 |
|
1. Inventories |
56,315,117,960 |
32,533,000,000 |
40,248,000,000 |
|
2. Provisions for devaluation of inventories |
|
0 |
0 |
|
V. Other Current
Assets |
8,223,391,071 |
3,000,000 |
0 |
|
1. Short-term prepaid expenses |
|
0 |
0 |
|
2. VAT to be deducted |
|
0 |
0 |
|
3. Taxes and other accounts receivable from the State |
|
0 |
0 |
|
4. Other current assets |
8,223,391,071 |
3,000,000 |
0 |
|
B. LONG-TERM
ASSETS |
35,195,038,683 |
34,052,000,000 |
34,403,000,000 |
|
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
|
26,439,613,747 |
25,466,000,000 |
25,779,000,000 |
|
1. Tangible assets |
8,763,990,120 |
9,272,000,000 |
9,929,000,000 |
|
- Historical costs |
12,989,489,759 |
12,597,000,000 |
12,350,000,000 |
|
- Accumulated depreciation |
-4,225,499,639 |
-3,325,000,000 |
-2,421,000,000 |
|
2. Financial leasehold assets |
|
0 |
0 |
|
- Historical costs |
|
0 |
0 |
|
- Accumulated depreciation |
|
0 |
0 |
|
3. Intangible assets |
14,074,333,565 |
13,019,000,000 |
13,019,000,000 |
|
- Initial costs |
14,074,333,565 |
13,029,000,000 |
13,029,000,000 |
|
- Accumulated amortization |
|
-10,000,000 |
-10,000,000 |
|
4. Construction-in-progress |
3,601,290,062 |
3,175,000,000 |
2,831,000,000 |
|
III. Investment
property |
|
0 |
0 |
|
Historical costs |
|
0 |
0 |
|
Accumulated depreciation |
|
0 |
0 |
|
IV. Long-term
investments |
707,500,000 |
250,000,000 |
0 |
|
1. Investments in affiliates |
|
0 |
0 |
|
2. Investments in business concerns and joint ventures |
|
0 |
0 |
|
3. Other long-term investments |
707,500,000 |
250,000,000 |
0 |
|
4. Provisions for devaluation of long-term investments |
|
0 |
0 |
|
V. Other
long-term assets |
8,047,924,936 |
8,336,000,000 |
8,624,000,000 |
|
1. Long-term prepaid expenses |
8,047,924,936 |
8,336,000,000 |
8,624,000,000 |
|
2. Deferred income tax assets |
|
0 |
0 |
|
3. Other long-term assets |
|
0 |
0 |
|
TOTAL ASSETS |
165,954,211,438 |
101,744,000,000 |
125,738,000,000 |
|
|
|||
|
LIABILITIES |
|||
|
A- LIABILITIES |
93,214,061,340 |
46,373,000,000 |
86,397,000,000 |
|
I. Current
liabilities |
93,214,061,340 |
46,373,000,000 |
86,397,000,000 |
|
1. Short-term debts and loans |
85,763,118,195 |
42,222,000,000 |
82,343,000,000 |
|
2. Payable to suppliers |
1,128,503,243 |
345,000,000 |
0 |
|
3. Advances from customers |
122,000,201 |
0 |
0 |
|
4. Taxes and other obligations to the State Budget |
5,827,128,962 |
3,806,000,000 |
4,054,000,000 |
|
5. Payable to employees |
320,247,857 |
0 |
0 |
|
6. Accrued expenses |
25,750,932 |
0 |
0 |
|
7. Inter-company payable |
|
0 |
0 |
|
8. Payable according to the progress of construction contracts |
|
0 |
0 |
|
9. Other payable |
27,311,950 |
0 |
0 |
|
10. Provisions for short-term accounts payable |
|
0 |
0 |
|
II. Long-Term
Liabilities |
|
0 |
0 |
|
1. Long-term accounts payable to suppliers |
|
0 |
0 |
|
2. Long-term inter-company payable |
|
0 |
0 |
|
3. Other long-term payable |
|
0 |
0 |
|
4. Long-term debts and loans |
|
0 |
0 |
|
5. Deferred income tax payable |
|
0 |
0 |
|
6. Provisions for unemployment allowances |
|
0 |
0 |
|
7. Provisions for long-term accounts payable |
|
0 |
0 |
|
B- OWNER’S
EQUITY |
72,740,150,098 |
55,371,000,000 |
39,341,000,000 |
|
I. OWNER’S
EQUITY |
72,740,150,098 |
55,371,000,000 |
39,341,000,000 |
|
1. Capital |
50,000,000,000 |
50,000,000,000 |
38,000,000,000 |
|
2. Share premiums |
|
0 |
0 |
|
3. Other sources of capital |
|
0 |
0 |
|
4. Treasury stocks |
|
0 |
0 |
|
5. Differences on asset revaluation |
|
0 |
0 |
|
6. Foreign exchange differences |
1,670,610,124 |
0 |
0 |
|
7. Business promotion fund |
|
0 |
0 |
|
8. Financial reserved fund |
|
0 |
0 |
|
9. Other funds |
|
0 |
0 |
|
10. Retained earnings |
21,069,539,974 |
5,371,000,000 |
1,341,000,000 |
|
11. Construction investment fund |
|
0 |
0 |
|
II. Other
sources and funds |
|
0 |
0 |
|
1. Bonus and welfare funds |
|
0 |
0 |
|
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 |
165,954,211,438 |
101,744,000,000 |
125,738,000,000 |
|
PROFIT
& LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2009 |
FY2008 |
FY2007 |
|
1. Total |
451,648,905,734 |
270,473,000,000 |
311,740,000,000 |
|
2. Deduction item |
59,976,853 |
217,000,000 |
112,000,000 |
|
3. Net |
451,588,928,881 |
270,256,000,000 |
311,628,000,000 |
|
4. Costs of goods sold |
398,866,195,811 |
219,321,000,000 |
270,314,000,000 |
|
5. Gross profit |
52,722,733,070 |
50,935,000,000 |
41,314,000,000 |
|
6. Financial income |
101,560,513 |
0 |
0 |
|
7. Financial expenses |
8,138,987,170 |
12,229,000,000 |
8,963,000,000 |
|
- In which: Loan interest expenses |
4,860,939,141 |
12,229,000,000 |
0 |
|
8. Selling expenses |
6,309,967,389 |
5,832,000,000 |
5,956,000,000 |
|
9. Administrative overheads |
9,245,541,913 |
9,128,000,000 |
10,507,000,000 |
|
10. Net operating profit |
29,129,797,111 |
23,746,000,000 |
15,888,000,000 |
|
11. Other income |
67,729,232 |
19,000,000 |
24,000,000 |
|
12. Other expenses |
392,632,499 |
1,417,000,000 |
69,000,000 |
|
13. Other profit /(loss) |
-324,903,267 |
-1,398,000,000 |
-45,000,000 |
|
14. Total accounting profit before tax |
28,804,893,844 |
22,348,000,000 |
15,843,000,000 |
|
15. Current corporate income tax |
5,040,856,423 |
6,257,000,000 |
4,671,000,000 |
|
16. Deferred corporate income tax |
|
0 |
0 |
|
18. Profit after tax |
23,764,037,421 |
16,091,000,000 |
11,172,000,000 |
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
|||
|
|
|||
|
Description |
FY2009 |
FY2008 |
Average Industry |
|
Current liquidity ratio |
1.40 |
1.46 |
1.94 |
|
Quick liquidity ratio |
0.80 |
0.76 |
0.98 |
|
Inventory circle |
7.08 |
6.03 |
9.29 |
|
Average receive period |
46.15 |
42.53 |
54.01 |
|
Utilizing asset performance |
2.72 |
2.66 |
2.21 |
|
Liability by total asset |
56.17 |
45.58 |
58.72 |
|
Liability by owner equity |
128.15 |
83.75 |
256.76 |
|
Ebit / Total asset (ROA) |
20.29 |
33.98 |
7.90 |
|
Ebit / Owner's equity (ROE) |
46.28 |
62.45 |
25.68 |
|
Ebit / Total |
7.45 |
12.78 |
4.18 |
|
Gross profit / Total Sale (GPM) |
11.67 |
18.83 |
15.30 |
|
Note: The Average Industry was calculated by |
|||
PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
Trade Morality |
|
Fair |
|
Liquidity |
|
Medium |
|
Payment status |
|
Average |
|
Financial Situation |
|
Above Average |
|
Development trend |
|
Positive |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
Direct payment or through its corresponding bank, L/C, T/T |
|
|
|
Wholesaler |
|
Public opinion |
|
Good |
|
CREDIT INQUIRY: 125,000 USD Against D/A in terms |
|
Accept! |
INTERPRETATION
ON THE SCORES
|
The
subject was set up in 1999 under the Establishment Decision No.313/GP-TLDN with
name as RUBY TRADING AND VETERINARY MEDICINE PRODUCTION CO., LTD. In 2007,
the subject changed name to RUBY COMPANY LIMITED. Its legal capital is VND 50
billion. The
subject specializes in trading in materials for producing veterinary
medicine, animal feed and shrimp and fish feed, chemical for water treatment.
It has export activities with many foreign suppliers including Dwijaya
Perkasa Abadi (Indonesia), Teloon Chemical Corp (China), Glide Chem Pvt
(Canada), Voreal (France), Nutri- Ad International (Belgium), Borculo Domo
Ingredients (Holland), Exquim, S & Joan Buscala, Protilac (France),
Guzhou Chia Tai Enterprise Co., Ltd (China), Sichuan Lomon Limited (England),
Schils Bv (Holland) And Helen Qingdao F.T.Z Co., Ltd (China). The
subject’s director, Mr.Cao Van Trieu has long year experienced in veterinary
and breeding field. He had learnt bachelor of veterinary and breeding in The
premises and facilities of the subject are fair. Its management capacity is
fairly good. The subject is popular with producers of veterinary medicines
and animal feed in During
operating, the subject has achieved the title of the Vietnam Business Gold
2008, the Gold Cup in 2009 for the development community, the title of
Prestige quality brand 2009, Trademarks Gold Cup - Brands 2009. It was also
one of Top 1000 Following
the subject’s financial statements, its |
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.44.65 |
|
|
1 |
Rs.71.91 |
|
Euro |
1 |
Rs.63.28 |
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.