|
Report Date : |
24.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
VETERINARY MEDICINE IMPORT EXPORT JOINT STOCK COMPANY |
|
|
|
|
Registered Office : |
No.7, 30/4 Street, Xuan Khanh Ward, Ninh Kieu District, Can Tho City |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
1989 |
|
|
|
|
Com. Reg. No.: |
1800155195 |
|
|
|
|
Legal Form : |
Joint stock company |
|
|
|
|
Line of Business : |
Materials for manufacture of veterinary medicine |
|
|
|
|
No. of Employees : |
450 |
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 : |
Regular |
|
|
|
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Vietnam |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
vietnam - ECONOMIC OVERVIEW
Vietnam is a densely-populated developing country that in the last 30 years has had to recover from the ravages of war, the loss of financial support from the old Soviet Bloc, and the rigidities of a centrally-planned economy. While Vietnam's economy remains dominated by state-owned enterprises, which still produce about 40% of GDP, Vietnamese authorities have reaffirmed their commitment to economic liberalization and international integration. They have moved to implement the structural reforms needed to modernize the economy and to produce more competitive export-driven industries. Vietnam joined the World Trade Organization in January 2007 following more than a decade-long negotiation process. Vietnam became an official negotiating partner in the developing Trans-Pacific Partnership trade agreement in 2010. Agriculture's share of economic output has continued to shrink from about 25% in 2000 to about 22% in 2011, while industry's share increased from 36% to 40% in the same period. Deep poverty has declined significantly, and Vietnam is working to create jobs to meet the challenge of a labor force that is growing by more than one million people every year. The global recession has hurt Vietnam's export-oriented economy, with GDP in 2009-11 growing less than the 7% per annum average achieved during the last decade. In 2011, exports increased by more than 33%, year-on-year, and the trade deficit, while reduced from 2010, remained high, prompting the government to maintain administrative trade measures to limit the trade deficit. Vietnam's managed currency, the dong, continues to face downward pressure due to a persistent trade imbalance. Since 2008, the government devalued it in excess of 20% through a series of small devaluations. Foreign donors pledged nearly $8 billion in new development assistance for 2011. However, the government's strong growth-oriented economic policies have caused it to struggle to control one of the region's highest inflation rates, which reached as high as 23% in August 2011 and averaged 18% for the year. In February 2011, Vietnam shifted its focus away from economic growth to stabilizing its economy and tightened fiscal and monetary policies. In early 2012 Vietnam unveiled a broad "three pillar" economic reform program, proposing the restructuring of public investment, state-owned enterprises and the banking sector. Vietnam's economy continues to face challenges from low foreign exchange reserves, an undercapitalized banking sector, and high borrowing costs. The near-bankruptcy and subsequent default of the state-owned-enterprise Vinashin, a leading shipbuilder, led to a ratings downgrade of Vietnam's sovereign debt, exacerbating Vietnam's borrowing difficulties.
|
Source : CIA |
|
Current legal status |
||
|
Registered English Name |
|
VETERINARY MEDICINE IMPORT EXPORT JOINT STOCK COMPANY |
|
Registered Vietnamese Name |
|
CONG TY CO PHAN SAN XUAT KINH DOANH VAT TU VA THUOC THU Y |
|
Registered Short name |
|
VEMEDIM |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
1989 |
|
Establishment Decision |
|
1244/QD-UB |
|
Date of Issuance |
|
22 Nov 1992 |
|
Place of Issuance |
|
Can Tho People Committee |
|
Business Registration No. |
|
1800155195 |
|
Date of Registration |
|
17 Aug 2009 |
|
Place of Registration |
|
Planning & Investment Department of Can Tho Province |
|
Chartered capital |
|
VND 20,000,000,000 |
|
Status |
|
Unlisted |
|
Tax code |
|
1800155195 |
|
Total Employees |
|
450 |
|
Size |
|
Medium |
|
Note: The subject’s exact name is as above |
||
Historical Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Business Registration No: 5703000179 dated on 18
Jan 2006 Changed to: 1800155195 |
17 Aug 2009 |
|
2 |
Subject has got former Business Registration No: 100504 dated on 24
Aug 2000 Changed to: No. 5703000179 |
18 Jan 2006 |
|
3 |
Subject has got former Registered English Name: CAN THO VETERINARY MEDICINE
COMPANY Changed to: VETERINARY MEDICINE IMPORT EXPORT JOINT STOCK COMPANY |
N/A |
|
4 |
Subject has got former Registered Vietnamese Name: CONG TY SAN XUAT
KINH DOANH VAT TU THUOC THU Y Changed to: CONG TY CO PHAN SAN XUAT KINH DOANH VAT TU VA THUOC THU Y |
N/A |
|
5 |
Subject has got former Type of Business: State owned company Changed to: Joint stock company |
N/A |
|
Head Office |
||
|
Address |
|
No.7, 30/4 Street, Xuan Khanh Ward, Ninh Kieu District, Can Tho City,
Vietnam |
|
Telephone |
|
(84-710) 3820703 / 3820704 |
|
Fax |
|
(84-710) 3825853 / 3738839 |
|
Email |
|
|
|
Website |
|
|
|
|
||
|
Representative office in Malaysia |
||
|
Address |
|
No.60, Jala ľ, Subang Permai 47500 Petaling Jaya, Selangor, Malaysia |
|
Telephone |
|
(603) 80247118 |
|
Fax |
|
(603) 80247168 |
|
|
||
|
Branch in Khanh Hoa |
||
|
Address |
|
No.49/10, Le Hong Phong Str., Nha Trang City, Khanh Hoa Province,
Vietnam |
|
Telephone |
|
(84-58) 3875846 |
|
|
||
|
Branch in Binh Dinh |
||
|
Address |
|
No.11, Tang Bat Ho Str., Qui Nhon City, Binh Dinh Province, Vietnam |
|
Telephone |
|
(84-56) 3822749 |
|
|
||
|
Branch in Ha Noi |
||
|
Address |
|
No.61A Truong Chinh Str, Hai Ba Trung District, Ha Noi City, Vietnam |
|
Telephone |
|
(84-4) 38693930 |
|
Note: Besides,
the subject has many branches or offices in almost provinces in Vietnam. It
has relationship with 12 small companies & factories in Can Tho Province.
|
||
|
1. NAME |
|
Mr. NGUYEN DUC HIEN |
|
Position |
|
Director |
|
Date of Birth |
|
01 Jan 1962 |
|
ID Number/Passport |
|
No. 361093571 |
|
ID Issue Date |
|
28 Feb 2003 |
|
ID Issue Place |
|
Can Tho policy station |
|
Resident |
|
No 62A, Mau Than Str., An Nghiep ward, Ninh Kieu District,
Can Tho City, Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
2. NAME |
|
Mr. LUU PHUOC HAU |
|
Position |
|
Deputy Director |
|
Resident |
|
Ninh Kieu District, Can Tho City, Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
3. NAME |
|
Mr. LE QUOC TUY |
|
Position |
|
Deputy Director |
|
Nationality |
|
Vietnamese |
|
|
||
|
4. NAME |
|
Mr. BUI TICH THIEN |
|
Position |
|
Chief Accountant |
|
Resident |
|
No 90 Nguyen Van Cu, Can Tho City, Vietnam |
|
Tel/Mobile phone |
|
(84-710) 3820703, ext: 162 |
|
Email |
|
adslvmd@vnn.vn |
|
Nationality |
|
Vietnamese |
|
|
||
|
5. NAME |
|
Mr. LE QUAN TAM |
|
Position |
|
Import - Export Department |
|
ID Number/Passport |
|
361915130 |
|
Resident |
|
Ninh Kieu Ward, Can Tho City, Ninh Kieu District,
Can Tho City, Vietnam |
|
Nationality |
|
Vietnamese |
|
• Producing and trading veterinary
medicine for animal, pets, shrimps, fish. Including: Injectable solution, Oral
solution, Sterile powder for injection, Water soluble powder, Feed additives,
Premixes, Biological, Disinfectant, Water treatment products. |
|
IMPORT: |
||
|
Types of products |
|
Materials for manufacture of veterinary medicine |
|
Market |
|
USA, Japan, Canada, China, India |
|
Mode of payment |
|
L/C, T/T |
|
|
||
|
EXPORT: |
||
|
Types of products |
|
Veterinary medicine, aqua medicine |
|
Market |
|
Asia countries, Africa, Middle East, Southern United States |
|
Mode of payment |
|
L/C, T/T |
|
1. MARITIME COMMERICAL STOCK BANK CAN THO BRANCH |
||
|
Address |
|
No.40 Phan Dinh Phung str, Ninh Kieu District, Can Tho City, Vietnam |
|
Telephone |
|
(84-710) 3824 792 |
|
Fax |
|
(94-710) 3820 279 |
|
|
||
|
2. VIET NAM BANK FOR AGRICULTURE AND RURAL DEVELOPMENT CAN THO BRANCH |
||
|
Address |
|
No.3 Phan Dinh Phung, Ninh Kieu District, Can Tho City, Vietnam |
|
Telephone |
|
(84-710) 3827832 |
|
Fax |
|
(84-710) 3821594 |
|
|
||
|
3. HSBC BANK (VIET NAM) LTD - CAN THO BRANCH |
||
|
Address |
|
SST building, No.11, Hoa Binh St., Ninh Kieu Dist., Can Tho City,
Vietnam |
|
Telephone |
|
(84-710) 373 5757 |
|
|
||
|
4. JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM |
||
|
Address |
|
107 A1, Cai Khe Trade Center, Ninh Kieu District, Can Tho City,
Vietnam |
|
1. NAME |
|
Mr. NGUYEN DUC HIEN |
|
|
Position |
|
Director |
|
|
Date of Birth |
|
01 Jan 1962 |
|
|
ID Number/Passport |
|
No. 361093571 |
|
|
Issued on |
|
28 Feb 2003 |
|
|
Issued Place |
|
Can Tho policy station |
|
|
Resident |
|
No 62A Mau Than Str, An Nghiep ward, Ninh Kieu District, Can Tho City,
Vietnam |
|
|
Nationality |
|
Vietnamese |
|
|
Number of Shares |
|
99,100 |
|
|
|
|||
|
2. NAME |
|
Mr. BUI TICH THIEN |
|
|
Position |
|
Chief Accountant |
|
|
Resident |
|
No 90 Nguyen Van Cu, , Can Tho City, Vietnam |
|
|
Nationality |
|
Vietnamese |
|
|
Email |
|
adslvmd@vnn.vn |
|
|
Work phone |
|
(84-710) 3820703, ext: 162 |
|
|
Number of Shares |
|
71,200 |
|
|
|
|||
|
3. NAME |
|
Mr. TRAN VAN SY |
|
|
Resident |
|
Block H2 Mau Than collective zone, Can Tho City, Vietnam |
|
|
Nationality |
|
Vietnamese |
|
|
Number of Shares |
|
66,900 |
|
|
|
|||
|
4. NAME |
|
Mr. HUYNH HUU PHUOC |
|
|
Resident |
|
188/28 Nguyen Van Cu Str., Can Tho City, Vietnam |
|
|
Nationality |
|
Vietnamese |
|
|
Number of Shares |
|
31,500 |
|
|
|
|||
|
5. NAME |
|
Mr. PHAM MANH HUNG |
|
|
Resident |
|
No 69/3, 30/4 Str., Can Tho City, Vietnam |
|
|
Nationality |
|
Vietnamese |
|
|
Number of Shares |
|
42,300 |
|
|
|
|||
|
6. NAME |
|
THE OTHER STAFFS OWNED CAPITAL |
|
|
Number of shares |
|
1,063,460 |
|
|
|
|||
|
7. NAME |
|
THE OUTSIDE SHAREHOLDERS OWNED CAPITAL |
|
|
Number of shares |
|
625,540 |
|
|
BALANCE SHEET |
|||
|
Unit: One VND |
|||
|
Balance sheet date |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
Number of weeks |
52 |
52 |
52 |
|
Audit status |
Unknown |
Unknown |
Unknown |
|
ASSETS |
|||
|
A – CURRENT ASSETS |
243,741,000,000 |
187,241,000,000 |
145,255,843,963 |
|
I. Cash and cash equivalents |
51,919,000,000 |
44,768,000,000 |
17,599,115,661 |
|
1. Cash |
51,919,000,000 |
44,768,000,000 |
17,599,115,661 |
|
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 |
79,571,000,000 |
61,290,000,000 |
61,726,345,427 |
|
1. Receivable from customers |
61,538,000,000 |
61,447,000,000 |
0 |
|
2. Prepayments to suppliers |
20,882,000,000 |
3,476,000,000 |
0 |
|
3. Inter-company receivable |
0 |
0 |
0 |
|
4. Receivable according to the progress of construction |
0 |
0 |
0 |
|
5. Other receivable |
3,579,000,000 |
2,790,000,000 |
0 |
|
6. Provisions for bad debts |
-6,428,000,000 |
-6,423,000,000 |
0 |
|
IV. Inventories |
109,227,000,000 |
80,443,000,000 |
64,007,439,397 |
|
1. Inventories |
112,464,000,000 |
83,675,000,000 |
0 |
|
2. Provisions for devaluation of inventories |
-3,237,000,000 |
-3,232,000,000 |
0 |
|
V. Other Current Assets |
3,024,000,000 |
740,000,000 |
1,922,943,478 |
|
1. Short-term prepaid expenses |
650,000,000 |
276,000,000 |
0 |
|
2. VAT to be deducted |
1,668,000,000 |
116,000,000 |
0 |
|
3. Taxes and other accounts receivable from the State |
14,000,000 |
0 |
0 |
|
4. Other current assets |
692,000,000 |
348,000,000 |
0 |
|
B. LONG-TERM ASSETS |
32,478,000,000 |
34,033,000,000 |
30,734,883,238 |
|
I. Long term accounts 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 |
31,135,000,000 |
32,593,000,000 |
29,006,554,025 |
|
1. Tangible assets |
30,817,000,000 |
32,593,000,000 |
29,006,554,025 |
|
- Historical costs |
98,302,000,000 |
88,189,000,000 |
29,006,554,025 |
|
- Accumulated depreciation |
-67,485,000,000 |
-55,596,000,000 |
0 |
|
2. Financial leasehold assets |
0 |
0 |
0 |
|
- Historical costs |
0 |
0 |
0 |
|
- Accumulated depreciation |
0 |
0 |
0 |
|
3. Intangible assets |
0 |
0 |
0 |
|
- Initial costs |
0 |
0 |
0 |
|
- Accumulated amortization |
0 |
0 |
0 |
|
4. Construction-in-progress |
318,000,000 |
0 |
0 |
|
III. Investment property |
0 |
0 |
0 |
|
Historical costs |
0 |
0 |
0 |
|
Accumulated depreciation |
0 |
0 |
0 |
|
IV. Long-term investments |
0 |
0 |
0 |
|
1. Investments in affiliates |
0 |
0 |
0 |
|
2. Investments in business concerns and joint ventures |
0 |
0 |
0 |
|
3. Other long-term investments |
0 |
0 |
0 |
|
4. Provisions for devaluation of long-term investments |
0 |
0 |
0 |
|
V. Other long-term assets |
1,343,000,000 |
1,440,000,000 |
1,728,329,213 |
|
1. Long-term prepaid expenses |
1,161,000,000 |
1,440,000,000 |
0 |
|
2. Deferred income tax assets |
182,000,000 |
0 |
0 |
|
3. Other long-term assets |
0 |
0 |
1,728,329,213 |
|
VI. Goodwill |
0 |
0 |
0 |
|
1. Goodwill |
0 |
0 |
0 |
|
TOTAL ASSETS |
276,219,000,000 |
221,274,000,000 |
175,990,727,201 |
|
|
|||
|
LIABILITIES |
|||
|
A- LIABILITIES |
93,776,000,000 |
81,291,000,000 |
87,959,590,308 |
|
I. Current liabilities |
91,842,000,000 |
78,703,000,000 |
76,151,921,247 |
|
1. Short-term debts and loans |
28,163,000,000 |
18,578,000,000 |
76,151,921,247 |
|
2. Payable to suppliers |
43,599,000,000 |
40,092,000,000 |
0 |
|
3. Advances from customers |
37,000,000 |
440,000,000 |
0 |
|
4. Taxes and other obligations to the State Budget |
5,148,000,000 |
4,842,000,000 |
0 |
|
5. Payable to employees |
7,071,000,000 |
119,000,000 |
0 |
|
6. Accrued expenses |
5,896,000,000 |
12,984,000,000 |
0 |
|
7. Inter-company payable |
0 |
0 |
0 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
0 |
|
9. Other payable |
1,928,000,000 |
1,648,000,000 |
0 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
0 |
|
II. Long-Term Liabilities |
1,934,000,000 |
2,588,000,000 |
11,807,669,061 |
|
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 |
1,560,000,000 |
2,270,000,000 |
0 |
|
5. Deferred income tax payable |
0 |
0 |
0 |
|
6. Provisions for unemployment allowances |
374,000,000 |
318,000,000 |
0 |
|
7. Provisions for long-term accounts payable |
0 |
0 |
0 |
|
8. Unearned Revenue |
0 |
0 |
0 |
|
9. Science and technology development fund |
0 |
0 |
0 |
|
B- OWNER’S EQUITY |
182,443,000,000 |
139,983,000,000 |
88,031,136,893 |
|
I. OWNER’S EQUITY |
177,413,000,000 |
136,750,000,000 |
88,031,136,893 |
|
1. Capital |
20,000,000,000 |
20,000,000,000 |
88,031,136,893 |
|
2. Share premiums |
0 |
0 |
0 |
|
3. Other sources of capital |
0 |
0 |
0 |
|
4. Treasury stocks |
-10,598,000,000 |
-9,984,000,000 |
0 |
|
5. Differences on asset revaluation |
0 |
0 |
0 |
|
6. Foreign exchange differences |
0 |
0 |
0 |
|
7. Business promotion fund |
94,735,000,000 |
61,935,000,000 |
0 |
|
8. Financial reserved fund |
12,390,000,000 |
7,354,000,000 |
0 |
|
9. Other funds |
4,201,000,000 |
4,201,000,000 |
0 |
|
10. Retained earnings |
56,685,000,000 |
53,244,000,000 |
0 |
|
11. Construction investment fund |
0 |
0 |
0 |
|
12. Business arrangement supporting fund |
0 |
0 |
0 |
|
II. Other sources and funds |
5,030,000,000 |
3,233,000,000 |
0 |
|
1. Bonus and welfare funds (Elder form) |
5,030,000,000 |
3,233,000,000 |
0 |
|
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 |
276,219,000,000 |
221,274,000,000 |
175,990,727,201 |
PROFIT & LOSS
STATEMENT
|
Description |
FY2011 |
FY2010 |
FY2009 |
|
1. Total Sales |
486,893,000,000 |
417,771,000,000 |
358,138,447,376 |
|
2. Deduction item |
499,000,000 |
690,000,000 |
864,774,182 |
|
3. Net revenue |
486,394,000,000 |
417,081,000,000 |
357,273,673,194 |
|
4. Costs of goods sold |
281,487,000,000 |
224,478,000,000 |
219,441,601,896 |
|
5. Gross profit |
204,907,000,000 |
192,603,000,000 |
137,832,071,298 |
|
6. Financial income |
2,060,000,000 |
256,000,000 |
194,994,160 |
|
7. Financial expenses |
54,004,000,000 |
26,666,000,000 |
40,110,518,640 |
|
- In which: Loan interest expenses |
3,518,000,000 |
3,805,000,000 |
10,759,034,860 |
|
8. Selling expenses |
35,349,000,000 |
59,263,000,000 |
23,351,999,504 |
|
9. Administrative overheads |
56,450,000,000 |
52,020,000,000 |
37,946,268,619 |
|
10. Net operating profit |
61,164,000,000 |
54,910,000,000 |
36,618,278,695 |
|
11. Other income |
63,000,000 |
616,000,000 |
1,264,567,098 |
|
12. Other expenses |
1,000,000 |
428,000,000 |
72,442,690 |
|
13. Other profit /(loss) |
62,000,000 |
188,000,000 |
1,192,124,408 |
|
14. Total accounting profit before tax |
61,226,000,000 |
55,098,000,000 |
37,810,403,103 |
|
15. Current corporate income tax |
7,512,000,000 |
5,741,000,000 |
4,327,215,255 |
|
16. Deferred corporate income tax |
-182,000,000 |
0 |
0 |
|
17. Interest from subsidiaries/related companies |
0 |
0 |
0 |
|
18. Profit after tax |
53,896,000,000 |
49,357,000,000 |
33,483,187,848 |
FINANCIAL RATIOS AND
AVERAGE INDUSTRY RATIOS
|
Description |
FY2011 |
FY2010 |
FY2009 |
Average Industry |
|
Current liquidity ratio |
2.65 |
2.38 |
1.91 |
1.42 |
|
Quick liquidity ratio |
1.46 |
1.36 |
1.07 |
0.78 |
|
Inventory circle |
2.58 |
2.79 |
3.43 |
5.13 |
|
Average receive period |
59.71 |
53.64 |
63.06 |
72.48 |
|
Utilizing asset performance |
1.76 |
1.88 |
2.03 |
1.61 |
|
Liability by total assets |
33.95 |
36.74 |
49.98 |
65.76 |
|
Liability by owner's equity |
51.40 |
58.07 |
99.92 |
269.57 |
|
Ebit / Total assets (ROA) |
23.44 |
26.62 |
27.60 |
11.97 |
|
Ebit / Owner's equity (ROE) |
35.49 |
42.08 |
55.17 |
36.02 |
|
Ebit / Total revenue (NPM) |
13.30 |
14.10 |
13.56 |
7.56 |
|
Gross profit / Total revenue (GPM) |
42.08 |
46.10 |
38.49 |
14.67 |
|
Note: The Average Industry was calculated by VietnamCredit based on our own statistical data |
||||
|
Trade Morality |
|
Fair |
|
Liquidity |
|
Medium |
|
Payment status |
|
Average |
|
Financial Situation |
|
Above Average |
|
Development trend |
|
Positive |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
L/C, T/T |
|
Sale Methods |
|
Wholesaler |
|
Public opinion |
|
Well-known |
The subject was established in May 1989 as a State owned company. It was
changed into Joint Stock Company in 2006 with 30 percent of stakes in subject
of the state. However, the state sold its shares to private shareholders in Aug
2009. Currently, the subject operates under the business registration No.
1800155195 with the chartered capital is VND 20 billion.
Besides the headquarters in Can Tho City, the subject has also some
branches at some cities and provinces in Vietnam, and a representative office
in Malaysia. Its main products including antibiotics, vitamins, premix,
enzymes, anti-inflammatory drugs, drugs kill parasites, hormones, increase
metabolism, biological products, and environmental remediation. Its products
are famous and familiar in Vietnam. Besides proving in domestic market, the
subject also exports to Asian countries, Africa, Middle East and Southern
United States. After more than twenty years of operation, the subject has
progressed step by step and contributed considerably for development of
province. Its prestige and position are being improved much.
The management capacity is fair. With production lines, modern
equipment, advanced technology and quality management system efficiency, the
subject has been certified in accordance WHO GMP standards (Good Manufacturing
Practices) and ISO 9001:2000 (International Quality Management System). System
storage of goods of subject is accordance standard GSP (Good Storage
Practices). Besides, the environmental management system is consistent with international
standards ISO 14001:2004. The laboratory system has been certified in
accordance with GLP and ISO/IEC 17025 and it was granted VILAS stamp, which is
accepted in 42 countries.
The financial situation of the subject is considered above average. Liquidity
was quite good because the current assets were fairly high against the current
liabilities. The liabilities were relatively low and guaranteed by its assets
and owner’s equity, showing that the capital structure is fairly safe. Business
operation was effective. This is reflected in the annual growth of total sales
and profit. In 2011, total sales were increased 16.5% and 35.9% in comparison
with 2010 and 2009 respectively. Although the subject had to bear high of
financial expenses and administrative overheads, its profit was improved with
the growth rate of 9%. Profitability indicators were quite good compared with
the industry average.
In general, the subject is now operating on the medium scale. Its
position in the line is above average. The future prospect seems brightly. It
is reliable for small and medium transactions.
|
INDUSTRY DATA |
||||||
|
|
||||||
|
Industry code |
Growth speed by price compared with 1994 (%) |
Total enterprises 2010 |
Total employees 2011 (Thous.pers.) |
Annual average capital of enterprises 2010 (billion dongs) |
||
|
2011 |
2010 |
|||||
|
Agriculture, Forestry and Fishing |
4.00 |
2.78 |
8,887 |
24,362.9 |
95,227 |
|
|
Industry and Construction |
5.53 |
7.70 |
95,217 |
10,718.9 |
3,641,376 |
|
|
Trade and Services |
6.69 |
7.52 |
187,195 |
15,270.2 |
6,957,082 |
|
|
|
||||||
|
ECONOMIC
INDICATORS |
||||||
|
|
||||||
|
|
2011 |
2010 |
2009 |
|||
|
Population
(Million person) |
87.84 |
86.93 |
86.02 |
|||
|
Gross
Domestic Products (USD billion) |
119 |
102.2 |
91 |
|||
|
GDP Growth
(%) |
5.89 |
6.78 |
5.32 |
|||
|
GDP Per
Capita (USD/person/year) |
1,300 |
1,160 |
1,080 |
|||
|
Inflation
(% Change in Composite CPI) |
18.58 |
11.75 |
6.88 |
|||
|
State
Budget Deficit compared with GDP (%) |
4.9 |
5.8 |
6.9 |
|||
|
|
||||||
|
SERVICE TRADE
PERFORMANCE |
||||||
|
|
||||||
|
Billion USD |
2011 |
2010 |
2009 |
|||
|
Exports |
96.3 |
72.2 |
57.1 |
|||
|
Imports |
105.8 |
84.8 |
69.9 |
|||
|
Trade
Balance |
-9.5 |
-12.6 |
-12.8 |
|||
Source: General Statistics Office
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.08 |
|
UK Pound |
1 |
Rs.89.53 |
|
Euro |
1 |
Rs.72.77 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.