|
Report Date : |
07.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
GLOMED PHARMACEUTICAL COMPANY, INC |
|
|
|
|
|
|
Registered Office : |
No. 35 Tu Do Boulevard, Vietnam - Singapore Industrial Park (Vsip), An Phu Ward, Thuan An Town, Binh Duong Province |
|
|
|
|
|
|
Country : |
Vietnam |
|
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
|
|
Year of Establishment : |
2006 |
|
|
|
|
|
|
Com. Reg. No.: |
3700754914 |
|
|
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
|
|
Line of Business : |
Manufacturing and trading in pharmaceutical products. |
|
|
|
|
|
|
No. of Employees : |
300 |
|
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 : |
Slow |
|
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Viet Nam |
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
SUBJECT IDENTIFICATION &
LEGAL FORM
|
||
|
|
||
Current legal status
|
||
|
Registered English Name |
|
GLOMED PHARMACEUTICAL COMPANY, INC |
|
Registered Vietnamese Name |
|
CONG TY CO PHAN DUOC PHAM GLOMED |
|
Trade name |
|
GLOMED PHARMACEUTICAL COMPANY INC |
|
Registered Short name |
|
GLOMED |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
2006 |
|
Business Registration No. |
|
3700754914 |
|
Date of Registration |
|
24 Feb 2009 |
|
Date of Latest adjustment (8th)
|
|
09 Jan 2012 |
|
Place of Registration |
|
Business Registration Office - Planning
and Investment Department of Binh Duong Province |
|
Chartered capital |
|
VND 120,000,000,000 |
|
Tax code |
|
3700754914 |
|
Total Employees |
|
300 |
|
Note |
|
The given name (Glomed Pharmaceutical
Company Limited) is not correct |
Historical Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Business Registration
No: 4603000275 issued on 17 Oct 2006 Changed to: 3700754914 |
24
Feb 2009 |
|
2 |
Subject has got former Vietnamese Name:
CONG TY CO PHAN DUOC PHAM TOAN CAU Changed to: CONG TY CO PHAN DUOC PHAM
GLOMED |
- |
ADDRESSES
|
||
|
|
||
|
HEAD QUARTER AND
NON-BETALACTAM PLANT |
||
|
Address |
|
No. 35 Tu Do Boulevard, Vietnam -
Singapore Industrial Park (VSIP), An Phu Ward, Thuan An Town, Binh Duong
Province, Vietnam |
|
Telephone |
|
(84-650) 3768 824 / 3768 823 / 3 768 826 /
3768 827 |
|
Fax |
|
(84-650) 3768 825 / 3769 094 |
|
Email |
|
|
|
Website |
|
|
|
|
||
|
CEPHALOSPORIN
PLANT |
||
|
Address |
|
No.29A Tu Do Boulevard, Vietnam Singapore
Industrial Park (VSIP), Binh Hoa Ward, Thuan An Town, Binh Duong Province,
Vietnam |
|
|
||
|
Branch in Da
Nang |
||
|
Address |
|
No. 53 Ly Thai Tong Street, Thanh Khe Tay
Ward, Thanh Khe District, Da Nang City, Vietnam |
|
Telephone |
|
(84-511) 3814 799/ 3813 755/ 3760 864 |
|
Fax |
|
(84-511) 3760 864 |
|
|
||
|
Branch in Can
Tho |
||
|
Address |
|
No. 576 – 577, B2 Street, 91B Residential
Area, An Khanh Ward, Ninh Kieu District, Can Tho City, Vietnam |
|
Telephone |
|
(84-710) 6257 575/ 6257 676 |
|
Fax |
|
(84-710) 3833 838 |
|
|
||
|
Branch in Ha Noi
|
||
|
Address |
|
No. 34 Nguy Nhu Kon Tum Street, Nhan Chinh
Ward, Thanh Xuan District, Ha Noi City, Vietnam |
|
Telephone |
|
(84-4) 3557 7430 / 3557 7429 |
|
Fax |
|
(84-4) 3557 7431 |
|
|
||
|
Branch in Khanh
Hoa |
||
|
Address |
|
No. 91 Hong Bang Street, Tan Lap Ward, Nha
Trang City, Khanh Hoa Province, Vietnam |
|
Telephone |
|
(84-58) 3704 098/ 3511 869 |
|
Fax |
|
(84-58) 3526 343/ 3511 875 |
|
|
||
SUBSIDIARIES AND RELATED COMPANIES
|
||
|
|
||
|
1. CONG TY TNHH
DUOC PHAM CAM TU |
||
|
Business Registration |
|
053951 |
|
Date of Registration |
|
15 Jul 1995 |
|
Place of Registration |
|
Planning and Investment Department of Ho Chi Minh City |
|
Registered Capital |
|
VND 8,000,000,000 |
|
Tax code |
|
0301129247 |
|
Address |
|
No. 781/B9 Le Hong Phong Street, Ward 12, District 10, Ho Chi Minh
City, Vietnam |
|
Tel |
|
(84-8) 3863 2323 |
|
Fax |
|
(84-8) 3863 2324 |
|
Legal Representative |
|
Ms. Trang Cam Tu |
|
|
||
|
2. CONG TY CO
PHAN DUOC PHAM CHAU AN |
||
|
Business Registration |
|
1601576216 |
|
Date of Registration |
|
17 Oct 2011 |
|
Place of Registration |
|
Planning and Investment Department of An Giang Province |
|
Tax code |
|
1601576216 |
|
Address |
|
No. 217 Le Van Cuong Street, Group 6, My Chanh Hamlet, Chau Phu
District, An Giang Province, Vietnam |
|
Tel |
|
(84-763) 863 113 |
|
Fax |
|
(84-763) 863 113 |
|
|
||
DIRECTORS
|
||
|
|
||
|
1.
NAME |
|
Mr.
TRANG VAN TOT |
|
Position |
|
Chairman cum General Director |
|
Date of Birth |
|
01 Mar 1957 |
|
ID Number/Passport |
|
024417402 |
|
ID Issue Date |
|
03 Nov 2005 |
|
ID Issue Place |
|
Police Station of
Hochiminh city |
|
Resident |
|
No. 386 Ba Hat
Street, Ward 8, District 10, Ho Chi Minh City, Vietnam |
|
Current resident |
|
No. 781/B9 Le Hong Phong (noi dai) Street,
Ward 12, District 10, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Qualification |
|
Management |
|
|
||
|
2.
NAME |
|
Ms.
TRANG CAM TU |
|
Position |
|
Deputy Director |
|
ID Number/Passport |
|
023732571 |
|
Resident |
|
No. 386 Ba Hat
Street, Ward 8, District 10, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Email |
|
|
|
Qualification |
|
Management |
|
|
||
|
3.
NAME |
|
Mr.
DANG NGUYEN NHAT THAO |
|
Position |
|
Chief Accountant |
|
Resident |
|
Ho Chi Minh City,
Vietnam |
|
Nationality |
|
Vietnamese |
|
Qualification |
|
Management |
|
|
||
BUSINESS NATURE AND ACTIVITIES
|
|
|
|
The subject registers and operates in the
following business activities: |
|
|
IMPORT & EXPORT ACTIVITIES
|
||
|
|
||
|
IMPORT: |
||
|
·
Types of products |
|
Materials and equipment |
|
·
Market |
|
USA, Germany, Switzerland and Japan |
|
·
Mode of payment |
|
Through the bank |
|
|
||
|
EXPORT: |
||
|
·
Market |
|
Cambodia, Myanmar, Indonesia..... |
|
·
Mode of payment |
|
L/C, T/T |
|
|
||
BANKERS
|
||
|
|
||
|
VIETNAM
PROSPERITY JOINT STOCK COMMERCIAL BANK HOCHIMINH CITY BRANCH |
||
|
Address |
|
No.87 Ham Nghi Street, 1 District, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 3821 0076 /3821 0077 |
|
Fax |
|
(84-8) 3824 3456 |
|
|
||
SHAREHOLDERS
|
||
|
|
||
|
1.
NAME |
|
Mr.
TRANG VAN TOT |
|
Position |
|
Chairman cum General Director |
|
Date of Birth |
|
01 Mar 1957 |
|
ID Number/Passport |
|
024417402 |
|
Issued on |
|
03 Nov 2005 |
|
Issued Place |
|
Police Station of Hochiminh city |
|
Resident |
|
No. 386 Ba Hat Street, Ward 8, District
10, Ho Chi Minh City, Vietnam |
|
Current Resident |
|
No. 781/B9 Le Hong Phong (noi dai), Ward
12, District 10, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
9,600,000 |
|
Value of shares |
|
VND 96,000,000,000 |
|
Percentage |
|
80% |
|
|
||
|
2.
NAME |
|
Ms.
TRANG CAM TU |
|
Position |
|
Deputy Director |
|
ID Number/Passport |
|
023732571 |
|
Resident |
|
No. 386 Ba Hat Street, Ward 8, District 10,
Ho Chi Minh City, Vietnam |
|
Email |
|
|
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
600,000 |
|
Value of shares |
|
VND 6,000,000,000 |
|
Percentage |
|
5% |
|
|
||
|
3.
NAME |
|
Mr.
TRANG VAN TY |
|
ID Number/Passport |
|
024107299 |
|
Resident |
|
No. 491 Lac Long Quan Street, Ward 5,
District 11, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
1,200,000 |
|
Value of shares |
|
VND 12,000,000,000 |
|
Percentage |
|
10% |
|
|
||
|
4.
NAME |
|
Ms.
TRANG HOANG YEN |
|
ID Number/Passport |
|
024115715 |
|
Resident |
|
No. 386 Ba Hat Street, Ward 8, District
10, Ho Chi Minh City, Vietnam |
|
Number of Shares |
|
600,000 |
|
Value of shares |
|
VND 6,000,000,000 |
|
Percentage |
|
5% |
|
|
||
FINANCIAL DATA
|
|||
|
|
|||
|
BALANCE
SHEET |
|||
Unit: One VND
|
|||
|
Balance sheet
date |
31/12/2010 |
31/12/2009 |
31/12/2008 |
|
Number of weeks |
52 |
52 |
52 |
ASSETS
|
|||
|
A – CURRENT
ASSETS |
124,468,000,000 |
75,302,591,273 |
30,410,266,544 |
|
I. Cash and cash
equivalents |
6,094,000,000 |
1,117,138,156 |
592,514,957 |
|
1. Cash |
6,094,000,000 |
1,117,138,156 |
592,514,957 |
|
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
|
72,885,000,000 |
22,145,101,685 |
1,526,601,140 |
|
1. Receivable from customers |
60,464,000,000 |
16,025,493,606 |
812,165,315 |
|
2. Prepayments to suppliers |
0 |
0 |
0 |
|
3. Inter-company receivable |
12,421,000,000 |
5,879,929,875 |
714,435,825 |
|
4. Receivable according to the progress of construction |
0 |
0 |
0 |
|
5. Other receivable |
0 |
239,678,204 |
0 |
|
6. Provisions for bad debts |
0 |
0 |
0 |
|
IV. Inventories |
39,243,000,000 |
48,176,663,391 |
21,923,856,914 |
|
1. Inventories |
39,243,000,000 |
48,176,663,391 |
21,923,856,914 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
0 |
|
V. Other Current
Assets |
6,246,000,000 |
3,863,688,041 |
6,367,293,533 |
|
1. Short-term prepaid expenses |
2,632,000,000 |
1,367,557,014 |
2,032,278,320 |
|
2. VAT to be deducted |
2,989,000,000 |
1,268,432,465 |
3,977,903,135 |
|
3. Taxes and other accounts receivable from the State |
0 |
0 |
0 |
|
4. Other current assets |
625,000,000 |
1,227,698,562 |
357,112,078 |
|
B. LONG-TERM
ASSETS |
166,116,000,000 |
113,339,032,682 |
125,942,010,598 |
|
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
|
156,403,000,000 |
103,381,969,374 |
115,719,160,468 |
|
1. Tangible assets |
93,388,000,000 |
98,080,149,881 |
107,338,518,971 |
|
- Historical costs |
124,046,000,000 |
116,723,321,067 |
114,530,466,821 |
|
- Accumulated depreciation |
-30,658,000,000 |
-18,643,171,186 |
-7,191,947,850 |
|
2. Financial leasehold assets |
0 |
0 |
0 |
|
- Historical costs |
0 |
0 |
0 |
|
- Accumulated depreciation |
0 |
0 |
0 |
|
3. Intangible assets |
28,000,000 |
40,611,930 |
53,436,750 |
|
- Initial costs |
64,000,000 |
64,124,100 |
64,124,100 |
|
- Accumulated amortization |
-36,000,000 |
-23,512,170 |
-10,687,350 |
|
4. Construction-in-progress |
62,987,000,000 |
5,261,207,563 |
8,327,204,747 |
|
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 |
9,713,000,000 |
9,957,063,308 |
10,222,850,130 |
|
1. Long-term prepaid expenses |
9,713,000,000 |
9,957,063,308 |
10,222,850,130 |
|
2. Deferred income tax assets |
0 |
0 |
0 |
|
3. Other long-term assets |
0 |
0 |
0 |
|
VI. Goodwill |
0 |
0 |
0 |
|
1. Goodwill |
0 |
0 |
0 |
|
TOTAL ASSETS |
290,584,000,000 |
188,641,623,955 |
156,352,277,142 |
|
|
|||
LIABILITIES
|
|||
|
A- LIABILITIES |
163,711,000,000 |
113,246,334,511 |
127,733,257,479 |
|
I. Current
liabilities |
91,643,000,000 |
59,042,603,829 |
26,380,832,209 |
|
1. Short-term debts and loans |
71,225,000,000 |
32,339,409,378 |
7,633,260,214 |
|
2. Payable to suppliers |
19,239,000,000 |
24,868,766,498 |
16,662,386,380 |
|
3. Advances from customers |
0 |
0 |
0 |
|
4. Taxes and other obligations to the State Budget |
755,000,000 |
1,221,328,961 |
1,364,889,204 |
|
5. Payable to employees |
0 |
131,153,000 |
180,954,292 |
|
6. Accrued expenses |
429,000,000 |
408,116,052 |
42,753,637 |
|
7. Inter-company payable |
0 |
0 |
475,296,165 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
0 |
|
9. Other payable |
-5,000,000 |
73,829,940 |
21,292,317 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
0 |
|
II. Long-Term
Liabilities |
72,068,000,000 |
54,203,730,682 |
101,352,425,270 |
|
1. Long-term accounts payable to suppliers |
0 |
0 |
0 |
|
2. Long-term inter-company payable |
0 |
0 |
0 |
|
3. Other long-term payable |
2,715,000,000 |
5,005,000,000 |
20,000,000 |
|
4. Long-term debts and loans |
69,353,000,000 |
49,198,730,682 |
101,332,425,270 |
|
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 |
126,873,000,000 |
75,395,289,444 |
28,619,019,663 |
|
I. OWNER’S
EQUITY |
126,873,000,000 |
75,395,289,444 |
28,619,019,663 |
|
1. Capital |
120,000,000,000 |
100,500,000,000 |
50,000,000,000 |
|
2. Share premiums |
0 |
0 |
0 |
|
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 |
0 |
0 |
0 |
|
7. Business promotion fund |
0 |
0 |
0 |
|
8. Financial reserved fund |
0 |
0 |
0 |
|
9. Other funds |
0 |
0 |
0 |
|
10. Retained earnings |
6,873,000,000 |
-25,104,710,556 |
-21,380,980,337 |
|
11. Construction investment fund |
0 |
0 |
0 |
|
II. Other
sources and funds |
0 |
0 |
0 |
|
1. Bonus and welfare funds (Elder form) |
0 |
0 |
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 |
290,584,000,000 |
188,641,623,955 |
156,352,277,142 |
|
|
|||
|
PROFIT
& LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2010 |
FY2009 |
FY2008 |
|
1. Total Sales |
225,348,000,000 |
105,190,795,373 |
31,751,465,458 |
|
2. Deduction item |
11,959,000,000 |
3,439,758,714 |
3,942,004,943 |
|
3. Net revenue |
213,389,000,000 |
101,751,036,659 |
27,809,460,515 |
|
4. Costs of goods sold |
121,903,000,000 |
66,481,263,028 |
20,226,233,457 |
|
5. Gross profit |
91,486,000,000 |
35,269,773,631 |
7,583,227,058 |
|
6. Financial income |
297,000,000 |
51,815,709 |
84,043,991 |
|
7. Financial expenses |
13,745,000,000 |
13,471,554,438 |
10,569,312,769 |
|
- In which: Loan interest expenses |
10,122,000,000 |
11,618,971,978 |
10,311,757,988 |
|
8. Selling expenses |
17,268,000,000 |
3,871,335,435 |
841,566,858 |
|
9. Administrative overheads |
29,103,000,000 |
21,704,703,693 |
17,659,130,859 |
|
10. Net operating profit |
31,667,000,000 |
-3,726,004,226 |
-21,402,739,437 |
|
11. Other income |
316,000,000 |
2,274,007 |
21,759,100 |
|
12. Other expenses |
4,000,000 |
0 |
0 |
|
13. Other profit /(loss) |
312,000,000 |
2,274,007 |
21,759,100 |
|
14. Total accounting profit before tax |
31,979,000,000 |
-3,723,730,219 |
-21,380,980,337 |
|
15. Current corporate income tax |
0 |
0 |
0 |
|
16. Deferred corporate income tax |
0 |
0 |
0 |
|
17. Interest from subsidiaries/related companies |
0 |
0 |
0 |
|
18. Profit after tax |
31,979,000,000 |
-3,723,730,219 |
-21,380,980,337 |
|
|
||||
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||||
|
|
||||
|
Description |
FY2010 |
FY2009 |
FY2008 |
Average Industry |
|
Current liquidity ratio |
1.36 |
1.28 |
1.15 |
1.65 |
|
Quick liquidity ratio |
0.93 |
0.46 |
0.32 |
1.04 |
|
Inventory circle |
2.79 |
1.38 |
0.92 |
4.14 |
|
Average receive period |
124.67 |
79.44 |
20.04 |
105.37 |
|
Utilizing asset performance |
0.73 |
0.54 |
0.18 |
1.20 |
|
Liability by total assets |
56.34 |
60.03 |
81.70 |
53.11 |
|
Liability by owner's equity |
129.04 |
150.20 |
446.32 |
159.74 |
|
Ebit / Total assets (ROA) |
14.49 |
4.19 |
-7.08 |
10.37 |
|
Ebit / Owner's equity (ROE) |
33.18 |
10.47 |
-38.68 |
23.03 |
|
Ebit / Total revenue (NPM) |
18.68 |
7.51 |
-34.86 |
10.15 |
|
Gross profit / Total revenue (GPM) |
40.60 |
33.53 |
23.88 |
25.88 |
|
Note: The Average Industry was calculated by VietnamCredit based on our own
statistical data |
||||
|
|
||||
PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
||
|
|
||
|
Trade Morality |
|
Normal |
|
Liquidity |
|
Average |
|
Payment status |
|
Normal |
|
Financial Situation |
|
Normal |
|
Development trend |
|
Stable |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
By cash or through the bank |
|
Sale Methods |
|
Retailer and Wholesaler |
|
|
INTERPRETATION ON THE SCORES
|
|
|
|
Subject
- GLOMED PHARMACEUTICAL COMPANY INC - is a joint stock company which
was established in 2006. The precursor of it was Cam Tu Pharmaceutical Company.,
Ltd which was established in 1995 in Ho Chi Minh City. The
subject is specializing in manufacturing and trading in pharmaceutical
products. The main products of subject are drugs of the Non – Betalactam
group and drugs of the Betalactam group (the cephalosporins) with a capacity
of about one billion tablets /capsules per year, and consisting of tablets,
film-coated tablets, hard-gelatin capsules, sachets, creams/ointments.
Currently, subject has more than 120 products. Its products are distributed
all over the provinces and cities in the nation. Subject
has close relationship with two main distribution company which are Cam Tu
Pharmaceutical Company Limited (Director of Cam Tu Pharmaceutical Company
Limited is Ms. Trang Cam Tu. She is deputy director of subject) and Chau An
Pharmaceutical Joint Stock Company. Subject
has two plants which are NON-BETALACTAM PLANT and CEPHALOSPORIN PLANT in Binh
Duong Province, Vietnam. Total investment capital is USD 18 million, and
total investment area is nearly 16,000 m2. For expanding market,
subject has established branches in some main area of Vietnam such as Ha Noi,
Da Nang, Can Tho and Khanh Hoa. Subject
has more investment in production such as investment in a modern line for
R&D and trial production and establishment the production lines of
tablets, film-coated tablets, capsules, sachets, creams/ointments with
equipment and machines imported from Germany, the United States, Spain,
Belgium and Singapore such as rapid mixer granulation, fluid bed drier,
tabling machine, capsule filling machine, metal detector, film coating
machine, blistering machine, packaging machine, cream fabricating machine. In
general, the subject is medium scale company. Its operation is now average.
Its competition capacity is normal in pharmaceutical industry. In the
industry, subject must be coped with some big pharmaceutical enterprises such
as OPC PHARMACEUTICAL, CODUPHA, PHARBACO, VIMEDIMEX, PHARIMEXCO. The subject has financial capacity to meet
normal commitments. |
|
|
------------ APPENDIX ----------
|
INDUSTRY DATA |
||||||
|
|
||||||
|
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.55.97 |
|
|
1 |
Rs.89.02 |
|
Euro |
1 |
Rs.70.61 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.