|
Report Date : |
10.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
CUU LONG PHARMACEUTICAL JOINT STOCK
COMPANY |
|
|
|
|
Registered Office : |
No. 150 - 14/9 Road Ward 5, Vinh Long City, Vinh Long Province |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
30.06.2012 |
|
|
|
|
Year of Establishment : |
1976 |
|
|
|
|
Com. Reg. No.: |
1500202535 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and trading
in pharmaceuticals products, capsules, and medical equipments |
|
|
|
|
No. of Employees : |
917 employees |
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 – 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
|
||
|
English Name |
|
CUU LONG PHARMACEUTICAL JOINT STOCK
COMPANY |
|
Vietnamese Name |
|
CONG TY CO PHAN DUOC PHAM CUU LONG |
|
Trade name |
|
PHARIMEXCO |
|
Short name |
|
VPC |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
1976 |
|
Establishment Decision |
|
2314/ QD-UB |
|
Date of Issuance |
|
09 Aug 2004 |
|
Place of Issuance |
|
Vinh Long People’s Committee |
|
Business Registration No. |
|
1500202535 |
|
Date of Registration |
|
25 Feb 2009 |
|
Place of Registration |
|
Vinh Long Department of Planning and
Investment |
|
Chartered capital |
|
VND 100,594,800,000 |
|
Status |
|
Listed |
|
Stock symbol |
|
DCL |
|
Stock Market |
|
HOSE |
|
Tax code |
|
1500202535 |
|
Total Employees |
|
917 |
Historical
Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got
former Chartered capital: VND 99,136,920,000 Changed to: VND 100,594,800,000 |
27 May 2011 |
|
2 |
Subject has got
former Chartered capital: 97,193,080,000 VND Changed to: 99,136,920,000 VND |
28 May 2010 |
|
3 |
Subject has got
former Business Registration No: 5403000021, issauce on 09 Nov 2004 Changed
to: 1500202535 (same the tax number) |
25 Feb 2009 |
|
4 |
Subject has got
former Chartered capital: 81,000,000,000 VND Changed to: 97,193,080,000 VND |
01 Dec 2008 |
|
Head Office |
||
|
Address |
|
No. 150 - 14/9 Road Ward 5, Vinh Long
City, Vinh Long Province, Vietnam |
|
Telephone |
|
(84-70) 3822533/ 3828103 |
|
Fax |
|
(84-70) 3822129 |
|
Email |
|
|
|
Website |
|
|
|
|
||
|
Branch in Ha Noi |
||
|
Address |
|
N1-4, No. 89 Nguyen Van Troi Phuong Liet
Ward, Thanh Xuan District, Ha Noi City, Vietnam |
|
Tax code |
|
1500202535-001 |
|
|
||
|
|
||
|
Branch in Ho Chi Minh |
||
|
Address |
|
No. 13 Nguyen Van Thu, Da Kao Ward, 1
District, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 38225927 |
|
Fax |
|
(84-8) 38298680 |
|
Tax code |
|
1500202535-016 |
|
|
||
|
|
||
|
Branch in Hai Phong |
||
|
Address |
|
No. 17 Luong Khanh Thien Luong Khanh Thien
Ward, Ngo Quyen District, Hai Phong City, Vietnam |
|
|
||
|
Branch in Da Nang |
||
|
Address |
|
373 Ngo Quyen An Hai Bac Ward, Son Tra
District, Da Nang City, Vietnam |
|
Tax code |
|
1500202535-023 |
|
|
||
|
|
||
|
Branch in Nghe An |
||
|
Address |
|
No. 52 Nguyen Thai Hoc Block 1, Doi Cung
Ward, Vinh City, Nghe An Province, Vietnam |
|
Tax code |
|
1500202535-021 |
|
|
||
|
Branch in Soc Trang |
||
|
Address |
|
No. 424 Road 30/4, Ward 3, Soc Trang City,
Soc Trang Province, Vietnam |
|
Tax code |
|
1500202535-019 |
|
|
||
|
Branch in Thanh Hoa |
||
|
Address |
|
No. 1 Lac Long Quan Street, Dong Ve Ward,
Thanh Hoa City, Thanh Hoa Province, Vietnam |
|
Tax code |
|
1500202535-026 |
|
|
||
|
|
||
|
Branch in An Giang |
||
|
Address |
|
Lot 3G1 Ly Thai To My Long Ward, Long
Xuyen City, An Giang Province, Vietnam |
|
Tax code |
|
1500202535-003 |
|
1. CONG TY TNHH
1TV DUOC PHAM MEKONG |
||
|
Registered Capital |
|
VND 10,000,000,000 |
|
Address |
|
No.56-58 -
Street 3/2 - Ward 1 , Vinh Long City, Vinh Long Province, Vietnam |
|
|
||
|
2. VIETNAM
CANADA CAPSULE ENTERPRISE |
||
|
Business Registration |
|
310695 |
|
Date of Registration |
|
15 Jul 1999 |
|
Place of Registration |
|
Planning and Investment Department of Vinh Long Province |
|
Tax code |
|
1500202535-022 |
|
Address |
|
No. 21B, Phan
Dinh Phung Str Ward 8, Vinh Long City, Vinh Long Province, Vietnam |
|
Tel |
|
(84-70) 3825316/
895605 |
|
Fax |
|
(84-70) 3821183 |
|
|
||
|
3. VPC - SAI GON
PHARMACEUTICAL COMPANY LIMITED |
||
|
Business Registration |
|
0311124093 |
|
Tax code |
|
0311124093 |
|
Address |
|
No. 13 Nguyen Van
Thu, Da Kao Ward, 1 District, Ho Chi Minh City, Vietnam |
|
|
||
|
4. MSC JOINT
VENTURE COMPANY |
||
|
Address |
|
No. 11 Lanexang
Street, Hatsady, Chanthaboury District, , , Laos |
|
1. NAME |
|
Mr. LUONG VAN HOA |
|
Position |
|
Chairman |
|
ID Number/Passport |
|
330006626 |
|
ID Issue Date |
|
02 Nov 2005 |
|
ID Issue Place |
|
Vinh Long Department
of Police |
|
Resident |
|
No. 18 Le Van Tam
Str., Ward 1, Vinh Long City, Vinh Long Province, Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
2. NAME |
|
Mr. NGUYEN THANH TONG |
|
Position |
|
Deputy General Director |
|
ID Number/Passport |
|
331631175 |
|
ID Issue Date |
|
15 Feb 2006 |
|
ID Issue Place |
|
Vinh Long Department
of Police |
|
Resident |
|
No. 150, 14-9 Road
Ward 5, Vinh Long City, Vinh Long Province, Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobile phone |
|
(84) 903833443 |
|
|
||
|
3. NAME |
|
Mr. NGUYEN HUU TRUNG |
|
Position |
|
Deputy General Director |
|
ID Number/Passport |
|
330753573 |
|
ID Issue Date |
|
04 Feb 1994 |
|
ID Issue Place |
|
Vinh Long Department
of Police |
|
Resident |
|
No. 117, Road 14/9,
Ward 5, Vinh Long City, Vinh Long Province, Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
4. NAME |
|
Mr. NGUYEN VAN THANH HAI |
|
Position |
|
Chief Accountant |
|
Nationality |
|
Vietnamese |
|
-
Manufacturing and trading in pharmaceuticals products, capsules, and medical
equipments |
|
IMPORT: |
||
|
Types of products |
|
capsule, vitamine, antibionic |
|
Market |
|
Japan, Netherlands, China, Hong Kong, Singapore … |
|
Mode of payment |
|
LC,TT |
|
|
||
|
EXPORT: |
||
|
Market |
|
Laos, Cambodia |
|
Mode of payment |
|
LC, TT |
|
1. BANK FOR INVESTMENT AND DEVELOPMENT OF
VIETNAM VINH LONG BRANCH |
||
|
Address |
|
No.50 Nguyen Hue Street - Ward 2, Vinh Long City, Vinh Long Province,
Vietnam |
|
Telephone |
|
(84-70) 3820541 |
|
Foreign Currency Account |
|
72010370009808 |
|
|
||
|
2. JOINT STOCK BANK FOR FOREIGN TRADE OF
VIETNAM |
||
|
Address |
|
No. 143 Le Thai To Str, Vinh Long City, Vinh Long Province, Vietnam |
|
Telephone |
|
(84-70) 3833583 |
|
Fax |
|
(84-70) 3830562 |
|
1. NAME |
|
CONG TY TNHH DAI VIET A |
|
Business Registration |
|
051123 |
|
Address |
|
No. 285/C8 - 32 - 33 Cao Thang Street Ward 12, 12 District, Ho Chi
Minh City, Vietnam |
|
Number of shares |
|
200,000 |
|
Value of shares |
|
VND 2,000,000,000 |
|
Percentage |
|
2.47% |
|
Note: Representative: Mr. PHAM
TRUNG NGHIA |
||
|
|
||
|
2. NAME |
|
Mr. NGUYEN VAN CAN |
|
ID Number/Passport |
|
330004957 |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
44,640 |
|
Value of shares |
|
VND 446,400,000 |
|
Percentage |
|
0.55% |
|
|
||
|
3. NAME |
|
STATE SHAREHOLDER |
|
Number of shares |
|
2,860,000 |
|
Value of shares |
|
VND 28,600,000,000 |
|
Percentage |
|
35.31% |
|
|
||
|
4. NAME |
|
OTHER SHAREHOLDERS |
|
Number of shares |
|
2,495,360 |
|
Value of shares |
|
VND 24,953,600,000 |
|
Percentage |
|
30.81% |
|
BALANCE SHEET |
|||
Unit: One VND
|
|||
|
Balance sheet date |
30/06/2012 |
31/12/2011 |
31/12/2010 |
|
Number of weeks |
32 |
52 |
52 |
|
Audit status |
Audited |
Audited |
Audited |
|
ASSETS |
|||
|
A – CURRENT ASSETS |
493,312,195,527 |
591,685,160,061 |
528,689,539,732 |
|
I. Cash and cash equivalents |
7,660,447,833 |
18,139,592,984 |
24,603,124,131 |
|
1. Cash |
7,660,447,833 |
18,139,592,984 |
14,983,124,131 |
|
2. Cash equivalents |
0 |
0 |
9,620,000,000 |
|
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 |
285,599,969,132 |
323,319,860,960 |
297,935,454,845 |
|
1. Receivable from customers |
284,565,759,587 |
323,506,748,112 |
294,236,585,104 |
|
2. Prepayments to suppliers |
6,404,140,938 |
9,188,404,627 |
6,043,765,611 |
|
3. Inter-company receivable |
10,329,476,199 |
0 |
0 |
|
4. Receivable according to the progress of construction |
-15,699,407,592 |
0 |
0 |
|
5. Other receivable |
0 |
6,422,768,891 |
6,567,533,313 |
|
6. Provisions for bad debts |
0 |
-15,798,060,670 |
-8,912,429,183 |
|
IV. Inventories |
183,947,515,277 |
235,860,237,975 |
193,152,251,547 |
|
1. Inventories |
187,807,666,877 |
239,441,855,238 |
194,566,290,069 |
|
2. Provisions for devaluation of inventories |
-3,860,151,600 |
-3,581,617,263 |
-1,414,038,522 |
|
V. Other Current Assets |
16,104,263,285 |
14,365,468,142 |
12,998,709,209 |
|
1. Short-term prepaid expenses |
1,103,527,365 |
962,730,286 |
425,581,318 |
|
2. VAT to be deducted |
0 |
1,011,072,480 |
3,553,737,520 |
|
3. Taxes and other accounts receivable from the State |
3,596,430,229 |
4,143,183,284 |
1,215,151,747 |
|
4. Other current assets |
11,404,305,691 |
8,248,482,092 |
7,804,238,624 |
|
B. LONG-TERM ASSETS |
239,261,902,910 |
250,086,245,527 |
263,466,956,794 |
|
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 |
238,143,454,480 |
248,816,056,674 |
262,441,960,277 |
|
1. Tangible assets |
215,620,118,862 |
226,754,379,491 |
243,154,952,357 |
|
- Historical costs |
427,280,637,417 |
426,490,857,453 |
415,603,750,473 |
|
- Accumulated depreciation |
-211,660,518,555 |
-199,736,477,962 |
-172,448,798,116 |
|
2. Financial leasehold assets |
0 |
0 |
0 |
|
- Historical costs |
0 |
0 |
0 |
|
- Accumulated depreciation |
0 |
0 |
0 |
|
3. Intangible assets |
17,681,854,199 |
17,705,923,037 |
17,140,222,527 |
|
- Initial costs |
17,710,139,227 |
17,710,139,227 |
17,140,222,527 |
|
- Accumulated amortization |
-28,285,028 |
-4,216,190 |
0 |
|
4. Construction-in-progress |
4,841,481,419 |
4,355,754,146 |
2,146,785,393 |
|
III. Investment property |
0 |
0 |
0 |
|
Historical costs |
0 |
0 |
0 |
|
Accumulated depreciation |
0 |
0 |
0 |
|
IV. Long-term investments |
391,827,061 |
0 |
0 |
|
1. Investments in affiliates |
1,107,810,725 |
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 |
-715,983,664 |
0 |
0 |
|
V. Other long-term assets |
726,621,369 |
1,270,188,853 |
1,024,996,517 |
|
1. Long-term prepaid expenses |
622,481,369 |
1,117,354,678 |
929,496,517 |
|
2. Deferred income tax assets |
0 |
57,334,175 |
0 |
|
3. Other long-term assets |
104,140,000 |
95,500,000 |
95,500,000 |
|
VI. Goodwill |
0 |
0 |
0 |
|
1. Goodwill |
0 |
0 |
0 |
|
TOTAL ASSETS |
732,574,098,437 |
841,771,405,588 |
792,156,496,526 |
|
|
|||
|
LIABILITIES |
|||
|
A- LIABILITIES |
499,633,140,750 |
609,590,346,342 |
500,927,734,634 |
|
I. Current liabilities |
468,745,529,752 |
578,974,512,344 |
440,159,232,703 |
|
1. Short-term debts and loans |
359,088,807,719 |
461,751,483,414 |
335,179,850,330 |
|
2. Payable to suppliers |
72,271,724,236 |
84,640,759,911 |
73,942,756,496 |
|
3. Advances from customers |
6,920,515,261 |
7,721,066,805 |
7,412,931,332 |
|
4. Taxes and other obligations to the State Budget |
7,690,025,206 |
3,547,557,727 |
2,222,556,549 |
|
5. Payable to employees |
1,584,327,945 |
1,757,333,619 |
638,064,407 |
|
6. Accrued expenses |
17,752,035,130 |
18,202,761,897 |
14,150,362,763 |
|
7. Inter-company payable |
0 |
0 |
0 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
0 |
|
9. Other payable |
3,438,094,255 |
1,353,548,971 |
6,612,710,826 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
0 |
|
II. Long-Term Liabilities |
30,887,610,998 |
30,615,833,998 |
60,768,501,931 |
|
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 |
30,842,210,918 |
30,480,710,918 |
60,578,287,781 |
|
5. Deferred income tax payable |
0 |
0 |
0 |
|
6. Provisions for unemployment allowances |
45,400,080 |
135,123,080 |
190,214,150 |
|
7. Provisions for long-term accounts payable |
0 |
0 |
0 |
|
B- OWNER’S EQUITY |
232,940,957,687 |
232,129,285,783 |
291,142,817,985 |
|
I. OWNER’S EQUITY |
232,940,957,687 |
229,464,892,995 |
279,778,926,331 |
|
1. Capital |
99,136,920,000 |
99,136,920,000 |
99,136,920,000 |
|
2. Share premiums |
110,087,161,661 |
110,087,161,661 |
110,502,361,661 |
|
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 |
585,372,224 |
545,607,929 |
-170,604,352 |
|
7. Business promotion fund |
47,918,109,402 |
48,926,260,727 |
48,926,260,727 |
|
8. Financial reserved fund |
7,715,878,889 |
7,715,878,889 |
7,715,878,889 |
|
9. Other funds |
9,017,858,890 |
9,017,858,890 |
9,017,858,890 |
|
10. Retained earnings |
-41,540,510,229 |
-45,984,961,951 |
4,630,083,666 |
|
11. Construction investment fund |
20,166,850 |
20,166,850 |
20,166,850 |
|
II. Other sources and funds |
0 |
2,664,392,788 |
11,363,891,654 |
|
1. Bonus and welfare funds (Elder form) |
0 |
2,664,392,788 |
11,363,891,654 |
|
2. Sources of expenditure |
0 |
0 |
0 |
|
3. Fund to form fixed assets |
0 |
0 |
0 |
|
MINORITY’S INTEREST |
0 |
51,773,463 |
85,943,907 |
|
TOTAL LIABILITIES AND OWNER’S EQUITY |
732,574,098,437 |
841,771,405,588 |
792,156,496,526 |
|
PROFIT &
LOSS STATEMENT |
|||
|
|
|||
|
Description |
01/01/2012 -
30/06/2012 |
FY2011 |
FY2010 |
|
1. Total Sales |
336,015,845,710 |
686,633,872,874 |
579,748,719,537 |
|
2. Deduction item |
16,854,196,324 |
56,619,763,210 |
22,146,920,540 |
|
3. Net sale |
319,161,649,386 |
630,014,109,664 |
557,601,798,997 |
|
4. Costs of goods sold |
242,246,236,624 |
466,344,429,318 |
410,131,319,622 |
|
5. Gross profit |
76,915,412,762 |
163,669,680,346 |
147,470,479,375 |
|
6. Financial income |
3,460,075,764 |
2,989,492,031 |
4,758,678,697 |
|
7. Financial expenses |
36,415,687,318 |
78,807,940,717 |
43,826,739,017 |
|
- In which: Loan interest expenses |
34,999,439,391 |
75,482,646,640 |
41,872,580,201 |
|
8. Selling expenses |
30,057,186,744 |
89,188,715,957 |
67,861,146,182 |
|
9. Administrative overheads |
11,387,814,407 |
30,668,826,369 |
28,694,945,939 |
|
10. Net operating profit |
2,514,800,057 |
-32,006,310,666 |
11,846,326,934 |
|
11. Other income |
942,449,574 |
3,037,994,466 |
2,626,609,458 |
|
12. Other expenses |
1,538,149,541 |
1,910,466,444 |
2,770,916,898 |
|
13. Other profit /(loss) |
-595,699,967 |
1,127,528,022 |
-144,307,440 |
|
14. Total accounting profit before tax |
1,919,100,090 |
-30,878,782,644 |
11,702,019,494 |
|
15. Current corporate income tax |
414,570,826 |
383,192 |
1,919,645 |
|
16. Deferred corporate income tax |
0 |
57,334,175 |
0 |
|
17. Interest from subsidiaries/related companies |
0 |
0 |
0 |
|
18. Profit after tax |
1,504,529,264 |
-30,821,831,661 |
11,700,099,849 |
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||||
|
|
||||
|
Description |
01/01/2012 -
30/06/2012 |
FY2011 |
FY2010 |
Average Industry |
|
Current liquidity ratio |
1.05 |
1.02 |
1.20 |
1.65 |
|
Quick liquidity ratio |
0.66 |
0.61 |
0.76 |
1.04 |
|
Inventory circle |
1.32 |
2.17 |
2.12 |
4.14 |
|
Average receive period |
326.62 |
187.32 |
195.03 |
105.37 |
|
Utilizing asset performance |
0.44 |
0.75 |
0.70 |
1.20 |
|
Liability by total assets |
68.20 |
72.42 |
63.24 |
53.11 |
|
Liability by owner's equity |
214.49 |
262.61 |
172.06 |
159.74 |
|
Ebit / Total assets (ROA) |
5.04 |
5.30 |
6.76 |
10.37 |
|
Ebit / Owner's equity (ROE) |
15.85 |
19.22 |
18.40 |
23.03 |
|
Ebit / Total sale (NPM) |
10.99 |
6.50 |
9.24 |
10.15 |
|
Gross profit / Total sale (GPM) |
22.89 |
23.84 |
25.44 |
25.88 |
|
Note: The Average Industry was calculated by VietnamCredit based on our own
statistical data |
||||
|
Trade Morality |
|
Fair |
|
Liquidity |
|
Medium |
|
Payment status |
|
Above Average |
|
Financial Situation |
|
Average |
|
Development trend |
|
Stable |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
LC,TT |
|
Sale Methods |
|
Retailer and Wholesaler |
|
CREDIT INQUIRY: 125,000 USD Against D/A interms |
|
Accept! |
|
Founded in 1976, the subject operated
as a State owned company. Up to 2008, it was equitzed and officially listed
on HOSE (Hochiminh Stock Exchange) with the code name of DCL. Following some changes, the
subject is currently operating under the business registration number 1500202535.
The chartered capital of subject was increased to VND 100,594,800,000 The head office of subject is
located No. 150 - 14/9 Road Ward 5, Vinh Long City, Vinh Long Province,
Vietnam. Besides, it has 3 subsidies, five factories (in that has a farm
aiming to growth herb in Binh Phuoc Province), many branches and agents at
almost cities and provinces in Vietnam. The subject specializes in
producing, imports and exports business directly pharmaceuticals, empty hard
capsules, the instruments and medical equipment for the pharmaceutical
industry, medical industry, cosmetics, health foods, pharmaceuticals,
chemical substances, materials… The subject imported production technology
from Canada and Korea. Pharimexco is the country’s first pharmaceutical company
to meet three quality standards, namely GMP, GLP and GSP. The management is standardized and active.
Currently, the finished products of subject are exported to India, Cambodia
and Laos (the subject has a transaction office in Laos). In general with the current
financial, the subject can meet small-medium commitments. |
|
INDUSTRY DATA |
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|
|
||||||
|
Industry code |
Growth speed by price compared with 1994 (%) |
Total enterprises 2009 |
Total employees 2010 (Thous.pers.) |
Annual average capital of enterprises 2009 (billion dongs) |
||
|
2011 |
2010 |
|||||
|
Agriculture,
Forestry and Fishing |
4.00 |
2.78 |
8,749 |
23,896.3 |
81,559 |
|
|
Industry and
Construction |
5.53 |
7.70 |
85,115 |
10,630 |
2,751,975 |
|
|
Trade and Services |
6.69 |
7.52 |
154,978 |
14,522 |
4,939,069 |
|
|
|
||||||
|
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.52.38 |
|
UK Pound |
1 |
Rs.83.99 |
|
Euro |
1 |
Rs.67.99 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.