MIRA
INFORM REPORT
|
Report Date : |
18.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
CAN GIO PHARMACEUTICAL JOINT STOCK COMPANY |
|
|
|
|
Registered Office : |
No. 186 - 188 Le Thanh Ton Street, Ben Thanh Ward - District 1- Ho Chi Minh |
|
|
|
|
Country : |
Viet Nam |
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Year of Establishment : |
1981 |
|
|
|
|
Com. Reg. No.: |
0302664945 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Business medical equipment |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
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) |
|
Viet Nam |
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 |
|
CAN GIO PHARMACEUTICAL JOINT STOCK COMPANY
|
|
Vietnamese Name |
|
CONG TY CO PHAN DUOC PHAM CAN GIO |
|
Trade name |
|
CAN GIO PHARMACEUTICAL JOINT STOCK COMPANY |
|
Short name |
|
CAGIPHARM |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
1981 |
|
Establishment Decision |
|
122/QD-UB |
|
Date of Issuance |
|
22 Mar 1993 |
|
Place of Issuance |
|
People's Committee of Hochiminh City |
|
Business Registration No. |
|
0302664945 |
|
Date of Registration |
|
05 Oct 2010 |
|
Place of Registration |
|
Business Registration Office of Hochiminh
City |
|
Current registered capital |
|
110,000,000,000 VND |
|
Tax code |
|
0302664945 |
|
Total Employees |
|
340 |
|
Size |
|
Large |
|
Notes:
The given name (CAN GIOP PHARMACEUTICAL JOINT STOCK COMPANY) is not quite
correct. |
||
Historical Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Registered Vietnamese
Name: CONG TY DUOC PHAM HUYEN CAN GIO Changed to: CONG TY CO PHAN DUOC PHAM CAN
GIO |
N/A |
|
2 |
Subject has got former Trade Name:
CAGIPHARM Changed to: CAN GIO PHARMACEUTICAL JOINT
STOCK COMPANY |
N/A |
|
3 |
Subject has got former Type of Business:
State Owned Enterprises Changed to: Joint Stock Company |
N/A |
|
4 |
Subject has got former Business
Registration No: 102534 which was issued on April 3rd 1993 Changed to:
4103001125 |
31
Jul 2002 |
|
5 |
Subject has got former Business
Registration No: 4103001125 was issued on July 31st, 2002 Changed to:
0302664945 |
05
Oct 2010 |
|
6 |
Subject has got former Address: No. 43D/14
Ho Van Hue Str, Ward 9, Phu Nhuan District Changed to: No. 186 - 188 Le Thanh
Ton Street, Ben Thanh Ward, District 1 |
05
Oct 2010 |
|
|
ADDRESSES
|
|
||
|
Head Office |
||
|
Address |
|
No. 186 - 188 Le Thanh Ton Street, Ben
Thanh Ward - District 1- Ho Chi Minh City - Vietnam |
|
Telephone |
|
(84-8) 3823 0106 / 3823 0107 / 3823 0108 |
|
Fax |
|
(84-8) 3823 2272 |
|
Email |
|
|
|
Website |
|
|
|
|
||
|
Factory Address |
||
|
Address |
|
Lot B1-10 Northwest Cu Chi Industrial Park
– Cu Chi district- Ho Chi Minh City - Vietnam |
|
Telephone |
|
(84-8) 37908860 |
|
Fax |
|
(84-8) 37908856 |
|
Email |
|
|
|
|
||
|
Workshop Address
|
||
|
Address |
|
134/1 To Hien Thanh -15 Ward - District
10- Ho Chi Minh City - Vietnam |
|
Telephone |
|
(84-8) 38667191 |
|
|
||
|
Branch in Ho Chi
Minh |
||
|
Address |
|
Phong Thanh Hamlet - Can Gio District - Ho
Chi Minh City - Vietnam |
|
Telephone |
|
(84-8) 38740257 |
|
|
||
|
Branch in Da
Nang |
||
|
Address |
|
125 Ong Ich Khiem – Hai Chau District- Da
Nang City - Vietnam |
|
Telephone |
|
(84-511) 375 0951 |
|
Fax |
|
(84-511) 375 0952 |
|
|
||
|
Branch in Ha Noi
|
||
|
Address |
|
No. 9 Project- Nui Truc Lane 1, Giang Van
Minh Str, Kim Ma Ward - Ba Dinh District - Ha Noi City - Vietnam |
|
Telephone |
|
(84-4) 3736 7572 |
|
Fax |
|
(84-4) 3736 5310 |
|
Email |
|
|
|
|
||
|
Branch in Can
Tho |
||
|
Address |
|
No. 90 B1 Trung Tam Thuong Mai Cai Khe -
Ninh Kieu District - Can Tho City - Vietnam |
|
Telephone |
|
(84-710) 3769 885 |
|
Fax |
|
(84-710) 3768 659 |
|
Email |
|
|
|
|
||
SUBSIDIARIES AND RELATED
COMPANIES
|
|
||
|
1. SUBSIDIARIES
- CANGIO MEDICAL EQUIPMENT JSC |
||
|
Business Registration |
|
0400567178 |
|
Tax code |
|
0400567178 |
|
Address |
|
No. 60, Nguyen Van Dau Str, Ward 6 - Binh Thanh District - Ho Chi Minh
City - Vietnam |
|
Tel |
|
84-8-62941083 |
|
Fax |
|
84-8-62941082 |
|
Website |
|
|
|
|
||
|
2. SUBSIDIARIES
- INTERNATIONAL HOSPITAL JSC |
||
|
Business Registration |
|
0305390837 |
|
Address |
|
65A, Luy Ban Bich Str, Tan Thoi Hoa Ward - Tan Phu District - Ho Chi
Minh City - Vietnam |
|
Tel |
|
84-8-3277308 |
|
|
||
DIRECTORS
|
|
||
|
1.
NAME |
|
Mr.
LE MINH TRI |
|
Position |
|
Chairman |
|
Date of Birth |
|
23 Aug 1961 |
|
ID Number/Passport |
|
210152947 |
|
Resident |
|
42/290 Hang Hoa Tham
Str, Ward 7 - Binh Thanh District - Ho Chi Minh City - Vietnam |
|
|
||
|
2.
NAME |
|
Mr.
HOANG MANG |
|
Position |
|
General Director |
|
|
||
|
3.
NAME |
|
Mr.
LE XUAN KIEN |
|
Position |
|
Financial Director |
|
ID Number/Passport |
|
022061060 |
|
Resident |
|
No. 322/245 Huynh
Khuong An Str, Ward 5 - Go Vap District - Ho Chi Minh City - Vietnam |
|
|
||
|
4.
NAME |
|
Ms.
NGUYEN THI THU HA |
|
Position |
|
Accountant |
|
Resident |
|
Ho Chi Minh City -
Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
(84-8) 38463431 |
|
|
||
|
5.
NAME |
|
Ms.
TRAN NGOC LAN TRANG |
|
Position |
|
Deputy General Director |
|
ID Number/Passport |
|
240358857 |
|
Resident |
|
No. 39/4/3 Huynh Van
Banh Str - Phu Nhuan District - Ho Chi Minh City - Vietnam |
|
|
||
BUSINESS NATURE AND ACTIVITIES
|
|
|
The subject registers and operates in the following
business activities: |
|
|
IMPORT & EXPORT ACTIVITIES
|
|
||
|
IMPORT: |
||
|
·
Types of products |
|
Materials and machines |
|
·
Market |
|
India, Hong Kong, France and Thailand market. |
|
|
||
|
EXPORT: |
||
|
·
Types of products |
|
N/A |
|
·
Market |
|
N/A |
|
|
BANKERS
|
|
||
|
1.
BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM TRANSACTION NO.2 |
||
|
Address |
|
No.11 Ben Chuong Duong ,Nguyen Thai Binh ward - District 1- Ho Chi
Minh City - Vietnam |
|
Telephone |
|
(08) 3.8214929 |
|
|
||
|
2.
VIET NAM BANK FOR AGRICULTURE AND RURAL DEVELOPMENT PHO DUC CHINH TRANSACTION
|
||
|
SWIFT Code |
|
VBAAVNVX |
|
|
||
|
3.
ASIA COMMERCIAL JOINT STOCK BANK |
||
|
Address |
|
No. 30 Mac Dinh Chi Street, Da Kao Ward - District 1- Ho Chi Minh City
- Vietnam |
|
Telephone |
|
84-8 3824 3770 |
|
Fax |
|
84-8 3824 3946 |
|
SWIFT Code |
|
ASCBVNVX |
|
|
||
SHAREHOLDERS
|
|
||
|
1.
NAME |
|
STATE
OWNED SHARES |
|
Value of shares |
|
1,450,000,000 VND |
|
Percentage |
|
1.32% |
Represented
by:
|
||
|
1.1. NAME |
|
Mr. LE MINH TRI |
|
Position
|
|
Chairman
|
|
Date
of Birth |
|
23
Aug 1961 |
|
ID
Number/Passport |
|
210152947
|
|
Resident |
|
42/290
Hang Hoa Tham Str, Ward 7 - Binh Thanh District - Ho Chi Minh City - Vietnam |
|
|
||
|
1.2. NAME |
|
Ms. NGO PHI HAU |
|
ID
Number/Passport |
|
024042303
|
|
Resident |
|
No.
18A/38/14 Nguyen Thi Minh KhaiStr, Da Kao Ward, District 1- Ho Chi Minh City
- Vietnam |
|
|
||
|
2.
NAME |
|
Mr.
LE MINH TRI |
|
Position |
|
Chairman |
|
Date of Birth |
|
23 Aug 1961 |
|
ID Number/Passport |
|
210152947 |
|
Resident |
|
42/290 Hang Hoa Tham Str, Ward 7 - Binh
Thanh District - Ho Chi Minh City - Vietnam |
|
Value of shares |
|
1,500,000,000 VND |
|
Percentage |
|
1.36% |
|
|
||
|
3.
NAME |
|
Mr.
LE XUAN KIEN |
|
Position |
|
Financial Director |
|
ID Number/Passport |
|
022061060 |
|
Resident |
|
No. 322/245 Huynh Khuong An Str, Ward 5 -
Go Vap District - Ho Chi Minh City - Vietnam |
|
Value of shares |
|
1,158,000,000 VND |
|
Percentage |
|
1.05% |
|
|
||
|
4.
NAME |
|
Ms.
NGO PHI HAU |
|
ID Number/Passport |
|
024042303 |
|
Resident |
|
No. 18A/38/14 Nguyen Thi Minh KhaiStr, Da
Kao Ward, District 1- Ho Chi Minh City - Vietnam |
|
Value of shares |
|
1,447,000,000 VND |
|
Percentage |
|
1.32% |
|
|
||
|
5.
NAME |
|
Ms.
NGUYEN THI TRANG |
|
ID Number/Passport |
|
023994064 |
|
Resident |
|
No. 126 Nguyen Van Thu Str, Da Kao Ward -
District 1- Ho Chi Minh City - Vietnam |
|
Value of shares |
|
1,500,000,000 VND |
|
Percentage |
|
1.36% |
|
|
||
|
6.
NAME |
|
Ms.
TRAN NGOC LAN TRANG |
|
Position |
|
Deputy General Director |
|
ID Number/Passport |
|
240358857 |
|
Resident |
|
No. 39/4/3 Huynh Van Banh Str - Phu Nhuan
District - Ho Chi Minh City - Vietnam |
|
Value of shares |
|
1,134,600,000 VND |
|
Percentage |
|
1.03% |
|
|
||
|
7.
NAME |
|
other
80 shareholders |
|
Value of shares |
|
101,810,400,000 VND |
|
Percentage |
|
92.55% |
|
|
||
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 |
198,814,469,099 |
187,012,335,010 |
127,137,972,730 |
|
I. Cash and cash
equivalents |
3,517,107,487 |
1,612,367,753 |
24,087,240,266 |
|
1. Cash |
3,517,107,487 |
1,612,367,753 |
24,087,240,266 |
|
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 |
105,907,342,880 |
92,045,115,895 |
67,231,801,347 |
|
1. Receivable from customers |
78,621,254,923 |
78,330,090,694 |
53,881,224,745 |
|
2. Prepayments to suppliers |
187,437,237 |
338,269,745 |
3,333,569 |
|
3. Inter-company receivable |
14,830,118,086 |
12,516,298,019 |
6,011,524,612 |
|
4. Receivable according to the progress of construction |
0 |
0 |
0 |
|
5. Other receivable |
12,268,532,634 |
860,457,437 |
7,335,718,421 |
|
6. Provisions for bad debts |
0 |
0 |
0 |
|
IV. Inventories |
84,682,739,489 |
84,982,058,980 |
28,969,336,475 |
|
1. Inventories |
84,682,739,489 |
84,982,058,980 |
28,969,336,475 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
0 |
|
V. Other Current
Assets |
4,707,279,243 |
8,372,792,382 |
6,849,594,642 |
|
1. Short-term prepaid expenses |
549,314,539 |
0 |
272,363,636 |
|
2. VAT to be deducted |
0 |
0 |
4,363,219,026 |
|
3. Taxes and other accounts receivable from the State |
2,933,057,177 |
5,971,004,785 |
2,214,011,980 |
|
4. Other current assets |
1,224,907,527 |
2,401,787,597 |
0 |
|
B. LONG-TERM
ASSETS |
212,042,487,990 |
207,656,376,386 |
199,510,192,225 |
|
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
|
123,171,852,055 |
121,022,933,410 |
145,679,244,344 |
|
1. Tangible assets |
84,286,509,335 |
80,937,379,102 |
3,492,028,179 |
|
- Historical costs |
94,185,441,227 |
85,783,578,450 |
5,118,014,077 |
|
- Accumulated depreciation |
-9,898,931,892 |
-4,846,199,348 |
-1,625,985,898 |
|
2. Financial leasehold assets |
0 |
0 |
0 |
|
- Historical costs |
0 |
0 |
0 |
|
- Accumulated depreciation |
0 |
0 |
0 |
|
3. Intangible assets |
38,885,342,720 |
40,041,361,842 |
34,140,570,834 |
|
- Initial costs |
38,885,342,720 |
40,041,361,842 |
34,140,570,834 |
|
- Accumulated amortization |
0 |
0 |
|
|
4. Construction-in-progress |
0 |
44,192,466 |
108,046,645,331 |
|
III. Investment
property |
0 |
0 |
0 |
|
Historical costs |
0 |
0 |
0 |
|
Accumulated depreciation |
0 |
0 |
0 |
|
IV. Long-term
investments |
55,616,300,000 |
54,781,197,881 |
53,830,947,881 |
|
1. Investments in affiliates |
0 |
0 |
0 |
|
2. Investments in business concerns and joint ventures |
55,600,000,000 |
54,744,897,881 |
53,754,647,881 |
|
3. Other long-term investments |
16,300,000 |
36,300,000 |
76,300,000 |
|
4. Provisions for devaluation of long-term investments |
0 |
0 |
0 |
|
V. Other
long-term assets |
33,254,335,935 |
31,852,245,095 |
0 |
|
1. Long-term prepaid expenses |
33,163,143,469 |
31,852,245,095 |
0 |
|
2. Deferred income tax assets |
|
0 |
0 |
|
3. Other long-term assets |
91,192,466 |
0 |
0 |
|
TOTAL ASSETS |
410,856,957,089 |
394,668,711,396 |
326,648,164,955 |
|
|
|||
LIABILITIES
|
|||
|
A- LIABILITIES |
269,052,945,182 |
237,505,858,501 |
170,682,215,176 |
|
I. Current
liabilities |
205,041,403,313 |
167,054,861,303 |
105,687,090,428 |
|
1. Short-term debts and loans |
147,781,157,455 |
118,434,193,291 |
82,676,212,442 |
|
2. Payable to suppliers |
|
26,481,505,689 |
11,693,456,215 |
|
3. Advances from customers |
37,942,591,345 |
530,901,110 |
0 |
|
4. Taxes and other obligations to the State Budget |
3,019,108,053 |
4,059,489,162 |
5,475,410,459 |
|
5. Payable to employees |
1,350,710,045 |
309,950,622 |
292,694,390 |
|
6. Accrued expenses |
414,367,705 |
849,145,604 |
243,818,477 |
|
7. Inter-company payable |
13,278,546,542 |
11,149,130,453 |
4,706,191,470 |
|
8. Payable according to the progress of construction contracts |
856,668,167 |
0 |
|
|
9. Other payable |
398,254,001 |
5,240,545,372 |
599,306,975 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
0 |
|
II. Long-Term
Liabilities |
64,011,541,869 |
70,450,997,198 |
64,995,124,748 |
|
1. Long-term accounts payable to suppliers |
64,011,541,869 |
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 |
0 |
70,450,997,198 |
64,995,124,748 |
|
5. Deferred income tax payable |
0 |
0 |
0 |
|
6. Provisions for unemployment allowances |
0 |
0 |
0 |
|
7. Provisions for long-term accounts payable |
0 |
0 |
0 |
|
B- OWNER’S
EQUITY |
141,804,011,907 |
157,162,852,895 |
155,965,949,779 |
|
I. OWNER’S
EQUITY |
141,804,011,907 |
156,221,902,558 |
155,210,993,224 |
|
1. Capital |
110,000,000,000 |
99,828,647,198 |
93,692,016,554 |
|
2. Share premiums |
24,436,639,842 |
45,055,465,929 |
51,321,623,152 |
|
3. Other sources of capital |
0 |
0 |
0 |
|
4. Treasury stocks |
1,889,293,188 |
0 |
0 |
|
5. Differences on asset revaluation |
494,825,196 |
0 |
0 |
|
6. Foreign exchange differences |
4,983,253,681 |
0 |
1,274,438,326 |
|
7. Business promotion fund |
0 |
1,364,302,211 |
394,360,040 |
|
8. Financial reserved fund |
0 |
484,223,925 |
0 |
|
9. Other funds |
0 |
0 |
8,528,555,152 |
|
10. Retained earnings |
0 |
9,489,263,295 |
0 |
|
11. Construction investment fund |
0 |
0 |
0 |
|
II. Other
sources and funds |
0 |
940,950,337 |
754,956,555 |
|
1. Bonus and welfare funds |
0 |
940,950,337 |
754,956,555 |
|
2. Sources of expenditure |
0 |
0 |
0 |
|
3. Fund to form fixed assets |
0 |
0 |
0 |
|
MINORITY’S
INTEREST |
0 |
0 |
0 |
|
TOTAL
LIABILITIES AND OWNER’S EQUITY |
410,856,957,089 |
394,668,711,396 |
326,648,164,955 |
|
|
|||
|
PROFIT
& LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2009 |
FY2008 |
FY2007 |
|
1. Total Sale |
167,938,172,978 |
145,063,183,609 |
110,959,155,879 |
|
2. Deduction item |
15,241,840,885 |
4,925,520,101 |
1,045,247,595 |
|
3. Net revenue |
152,696,332,093 |
140,137,663,508 |
109,913,908,284 |
|
4. Costs of goods sold |
128,317,902,164 |
110,525,856,513 |
91,352,607,472 |
|
5. Gross profit |
24,378,429,929 |
29,611,806,995 |
18,561,300,812 |
|
6. Financial income |
221,875,767 |
1,016,030,994 |
2,219,761,729 |
|
7. Financial expenses |
8,454,862,452 |
7,640,599,692 |
8,451,182,137 |
|
- In which: Loan interest expenses |
8,021,779,615 |
7,539,128,604 |
8,451,182,137 |
|
8. Selling expenses |
10,514,793,617 |
9,014,468,892 |
6,826,084,551 |
|
9. Administrative overheads |
8,168,404,573 |
4,986,380,889 |
3,930,788,720 |
|
10. Net operating profit |
-2,537,754,946 |
8,986,388,516 |
1,573,007,133 |
|
11. Other income |
4,797,176,078 |
0 |
14,573,735,512 |
|
12. Other expenses |
|
0 |
|
|
13. Other profit /(loss) |
4,797,176,078 |
0 |
14,573,735,512 |
|
14. Total accounting profit before tax |
2,259,421,132 |
8,986,388,516 |
16,146,742,645 |
|
15. Current corporate income tax |
1,199,294,020 |
0 |
5,363,557,106 |
|
16. Deferred corporate income tax |
|
0 |
0 |
|
18. Profit after tax |
1,060,127,112 |
8,986,388,516 |
10,783,185,539 |
|
|
||||
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||||
|
|
||||
|
Description |
FY2009 |
FY2008 |
FY2007 |
Average Industry |
|
Current liquidity ratio |
0.97 |
1.12 |
1.20 |
1.74 |
|
Quick liquidity ratio |
0.56 |
0.61 |
0.93 |
1.02 |
|
Inventory circle |
1.51 |
1.94 |
3.15 |
3.74 |
|
Average receive period |
253.16 |
239.74 |
223.26 |
76.97 |
|
Utilizing asset performance |
0.37 |
0.36 |
0.34 |
1.31 |
|
Liability by total asset |
65.49 |
60.18 |
52.25 |
49.32 |
|
Liability by owner equity |
189.74 |
151.12 |
109.44 |
129.21 |
|
Ebit / Total asset (ROA) |
2.50 |
4.19 |
7.53 |
8.55 |
|
Ebit / Owner's equity (ROE) |
7.25 |
10.51 |
15.77 |
18.02 |
|
Ebit / Total revenue (NPM) |
6.12 |
11.39 |
22.17 |
6.82 |
|
Gross profit / Total revenue (GPM) |
14.52 |
20.41 |
16.73 |
21.89 |
|
Note: The Average Industry was calculated by Vietnam Credit based on our
owned statistical data |
||||
|
|
PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
|
||
|
Trade Morality |
|
Good |
|
Liquidity |
|
Low/Medium |
|
Payment status |
|
Above Average |
|
Financial Situation |
|
Below Average |
|
Development trend |
|
Positive |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
Through its corresponding bank. Foreign remittance by letter of credit
(L/C), by telegraphic transfer |
|
Sale Methods |
|
Other |
|
Public opinion |
|
Well-known |
|
|
INTERPRETATION ON THE SCORES
|
|
|
Cagipharm
was established since 1982, which has been operating in manufacturing and trading
import pharmaceuticals and medical equipments for 25 years. However
recent years, it confronts some issues as brand name development, scarcity of
credit, liquidity crisis according to their management. In
2009, Cagipharm has signed the comprehensive cooperation with US Pharma in
order to develop their brand and high-tech pharmaceutical products. This
event would lead to a bright prospect for Cagipharm in expanding market
share. The
financial health of Cagipharm is not strong enough as compared to industry
average with low liquidity ratios, low inventory circle and also low
utilizing asset performance. Profitability ratio of the subject is much lower
than the average. In
summary, Cagipharm is capable to conduct small-medium financial commitments. |
------------ 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.45.07 |
|
|
1 |
Rs.72.97 |
|
Euro |
1 |
Rs.63.57 |
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 |
|
-- |
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.