|
Report Date : |
05.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
EUVIPHARM PHARMACEUTICAL JOINT STOCK COMPANY |
|
|
|
|
Registered Office : |
Binh Tien 2 Hamlet, Duc Hoa Ha Commune, Duc Hoa District, Long An Province |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Year of Incorporation : |
2005 |
|
|
|
|
Com. Reg. No.: |
1100670578 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and trading in pharmaceuticals |
|
|
|
|
No. of Employees : |
250 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 has been
transitioning from the rigidities of a centrally-planned economy since 1986.
Vietnamese authorities have reaffirmed their commitment to economic
modernization in recent years. Vietnam joined the World Trade Organization in
January 2007, which has promoted more competitive, export-driven industries.
Vietnam became an official negotiating partner in the Trans-Pacific Partnership
trade agreement in 2010. Agriculture's share of economic output has continued
to shrink from about 25% in 2000 to less than 22% in 2012, while industry's
share increased from 36% to nearly 41% in the same period. State-owned
enterprises account for roughly 40% of GDP. 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
hurt Vietnam's export-oriented economy, with GDP in 2012 growing at 5%, the
slowest rate of growth since 1999. In 2012, however, exports increased by more
than 18%, year-on-year; several administrative actions brought the trade
deficit back into balance. Between 2008 and 2011, Vietnam's managed currency,
the dong, was devalued in excess of 20%, but its value remained stable in 2012.
Foreign direct investment inflows fell 4.5% to $10.5 billion in 2012. Foreign
donors have pledged $6.5 billion in new development assistance for 2013. Hanoi
has oscillated between promoting growth and emphasizing macroeconomic stability
in recent years. In February 2011, the Government shifted policy away from
policies aimed at achieving a high rate of economic growth, which had stoked
inflation, to those aimed at stabilizing the economy, through tighter monetary
and fiscal control. Although Vietnam unveiled a broad, "three pillar"
economic reform program in early 2012, proposing the restructuring of public
investment, state-owned enterprises, and the banking sector, little perceptible
progress had been made by early 2013. Vietnam's economy continues to face
challenges from an undercapitalized banking sector. Non-performing loans weigh
heavily on banks and businesses. In September 2012, the official bad debt ratio
climbed to 8.8%, though some independent analysts believe it could be higher
than 15%.
Source
: CIA
SUBJECT IDENTIFICATION &
LEGAL FORM
|
||
|
|
||
Current legal status
|
||
|
English Name |
|
EUVIPHARM PHARMACEUTICAL JOINT STOCK
COMPANY |
|
Vietnamese Name |
|
CONG TY CO PHAN DUOC PHAM EUVIPHARM |
|
Short name |
|
EUVIPHARM |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
2005 |
|
Business Registration No. |
|
1100670578 |
|
Date of Registration |
|
25 Aug 2010 |
|
Place of Registration |
|
Planning and Investment Department of Long
An Province |
|
Chartered capital |
|
VND 190,000,000,000 |
|
Status |
|
Unlisted |
|
Tax code |
|
1100670578 |
|
Total Employees |
|
250 |
|
Note: According to the subject’s staffs, the
subject’s type of business has just changed into foreign invested company and
its chartered capital was lifted. However, we have not updated exact
information yet. On the subject’s latest business registration, which has
been adjusted on 31 July 2013, the subject’s legal information is above. |
||
Historical Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Chartered capital:
VND 80 billion Changed to VND 100 billion (25 Aug 2010) Changed to: VND 190 billion |
2012 |
|
2 |
Subject has got former Business
Registration No: 5003000102 Changed to: 1100670578 |
25
Aug 2010 |
|
|
||
ADDRESSES
|
||
|
|
||
|
Head Office |
||
|
Address |
|
Binh Tien 2 Hamlet, Duc Hoa Ha Commune,
Duc Hoa District, Long An Province, Vietnam |
|
Telephone |
|
(84-72) 3779623 |
|
Fax |
|
(84-72) 3779591 |
|
Email |
|
|
|
Website |
|
|
|
|
||
|
Representative
office in Ho Chi Minh |
||
|
Address |
|
No. 781/A42, Extend Le Hong Phong Street,
Ward 12, 10 District, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 3868 0944 |
|
Fax |
|
(84-8) 3863 3002 |
|
|
||
|
Representative
office in Dong Nai |
||
|
Address |
|
No. 51S2, Road 14, An Hoa 2 Quarter, An
Binh Ward, Bien Hoa City, Dong Nai Province, Vietnam |
|
Telephone |
|
(84-61) 3830426 |
|
Fax |
|
(84-61) 3830426 |
|
Tax code |
|
1100670578-002 |
|
Note: Besides, the subject has just opened an extra
office in Binh Dinh Province and this office is preparing to operate |
||
|
|
||
|
Branch in Ho Chi
Minh |
||
|
Address |
|
No. 7A/5/32 Thanh Thai Street, Ward 14, 10
District, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 7304 7188/ 3866 9874 |
|
Fax |
|
(84-8) 3864 9008 |
|
Manager |
|
Mr. PHAM PHUOC DUC |
|
|
||
DIRECTORS
|
||
|
|
||
|
1.
NAME |
|
Mr.
PHAM TRUNG NGHIA |
|
Position |
|
General Director |
|
Date of Birth |
|
1952 |
|
ID Number/Passport |
|
023144846 |
|
ID Issue Date |
|
03 Jun 2005 |
|
ID Issue Place |
|
Hochiminh Police
Department |
|
Resident |
|
No.109, Road 3/2,
Ward 11, 10 District, Ho Chi Minh City, Vietnam |
|
Current resident |
|
No. 49/3 Hoang Du Khuong, Ward 12, 10
District, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobile phone |
|
(84-72) 3779623 / +84903802891 |
|
|
||
|
2.
NAME |
|
Mr.
PHAM PHUOC DUC |
|
Position |
|
Managing Director |
|
ID Number/Passport |
|
022837887 |
|
Resident |
|
No. 99, Nguyen Thi
Nho, Ward 16, 11 District, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobile phone |
|
(84-8) 7304 7188 / +84 949 839 708 |
|
|
||
|
3.
NAME |
|
Mr.
HUYNH PHONG NHA |
|
Position |
|
Deputy General Director |
|
ID Number/Passport |
|
020468614 |
|
Resident |
|
No. 36/59A Lam Son, 6
Ward, Binh Thanh District, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
4.
NAME |
|
Mr.
NGUYEN ANH NGOC |
|
Position |
|
Chief Accountant |
|
Nationality |
|
Vietnamese |
|
|
||
BUSINESS NATURE AND ACTIVITIES
|
|
|
|
The subject focuses on: |
|
|
IMPORT & EXPORT ACTIVITIES
|
||
|
|
||
|
IMPORT: |
||
|
·
Types of products |
|
Pharmaceuticals, material for production |
|
·
Market |
|
Holland, Italy, Spain, France, USA, and Japan |
|
·
Ratio |
|
N/A |
|
·
Mode of payment |
|
L/C, T/T, DP |
|
|
||
|
EXPORT: |
||
|
Note: Currently, the subject does not export |
||
|
|
||
BANKERS
|
||
|
|
||
|
ASIA
COMMERCIAL BANK KY HOA BRANCH |
||
|
Address |
|
No.109, Road 3/2, 10 District, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 3839 8358 |
|
Fax |
|
(84-8) 3839 8361 |
|
|
||
SHAREHOLDERS
|
||
|
|
||
Following
is shareholders as in the subject’s latest business registration
|
||
|
1.
NAME |
|
TIMES
INVESTMENT JOINT STOCK COMPANY |
|
Business Registration |
|
4103006220 |
|
Address |
|
No. 444 Nguyen Thi Minh Khai Ward 5, 3
District, Ho Chi Minh City, Vietnam |
|
Tel |
|
(84-8) 39292672 |
|
Number of shares |
|
2,000,000 |
|
Value of shares |
|
VND 20,000,000,000 |
|
Percentage |
|
10.53% |
|
|
||
|
2.
NAME |
|
Mr.
PHAM TRUNG NGHIA |
|
Position |
|
General Director |
|
Date of Birth |
|
1952 |
|
ID Number/Passport |
|
023144846 |
|
Issued on |
|
03 Jun 2005 |
|
Issued Place |
|
Hochiminh Police Department |
|
Resident |
|
No.109, Road 3/2, Ward 11, 10 District, Ho
Chi Minh City, Vietnam |
|
Current Resident |
|
No. 49/3 Hoang Du Khuong, Ward 12, 10
District, Ho Chi Minh City, Vietnam |
|
Work phone |
|
(84-72) 3779623 |
|
Mobile phone |
|
+84903802891 |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
9,795,000 |
|
Value of shares |
|
VND 97,950,000,000 |
|
Percentage |
|
51.55% |
|
|
||
|
3.
NAME |
|
Mr.
PHAM PHUOC DUC |
|
Position |
|
Managing Director |
|
ID Number/Passport |
|
022837887 |
|
Resident |
|
No. 99, Nguyen Thi Nho, Ward 16, 11
District, Ho Chi Minh City, Vietnam |
|
Work phone |
|
(84-8) 7304 7188 |
|
Mobile phone |
|
+84 949 839 708 |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
950,000 |
|
Value of shares |
|
VND 9,500,000,000 |
|
Percentage |
|
5% |
|
|
||
|
4.
NAME |
|
Mr.
HUYNH PHONG NHA |
|
Position |
|
Deputy General Director |
|
ID Number/Passport |
|
020468614 |
|
Resident |
|
No. 36/59A Lam Son, 6 Ward, Binh Thanh
District, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
150,000 |
|
Value of shares |
|
VND 1,500,000,000 |
|
Percentage |
|
0.79% |
|
|
||
|
5.
NAME |
|
Mr.
HUYNH HUU NGO |
|
ID Number/Passport |
|
020748017 |
|
Resident |
|
No.468/20 Nguyen Tri Phuong Street, Ward
9, 10 District, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
950,000 |
|
Value of shares |
|
VND 9,500,000,000 |
|
Percentage |
|
5% |
|
|
||
|
6.
NAME |
|
Mr.
TRAN PHU MY |
|
ID Number/Passport |
|
022153324 |
|
Resident |
|
No.23 Nguyen Van Troi Street, Ward 12, Phu
Nhuan District, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
500,000 |
|
Value of shares |
|
VND 5,000,000,000 |
|
Percentage |
|
2.63% |
|
|
||
|
7.
NAME |
|
Mr.
PHAM TRUNG HIEN |
|
Date of Birth |
|
31 May 1975 |
|
ID Number/Passport |
|
023144848 |
|
Resident |
|
109 Str 3/2 Ward 11, 10 District, Ho Chi Minh
City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
950,000 |
|
Value of shares |
|
VND 9,500,000,000 |
|
Percentage |
|
5% |
|
|
||
|
8.
NAME |
|
Mr.
PHAM TRUNG HOA |
|
ID Number/Passport |
|
023276464 |
|
Resident |
|
No.109 3/2 Street, Ward 11, 10 District,
Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
950,000 |
|
Value of shares |
|
VND 9,500,000,000 |
|
Percentage |
|
5% |
|
|
||
|
9.
NAME |
|
Ms.
PHAM MY HANH |
|
ID Number/Passport |
|
023732093 |
|
Resident |
|
No.109 3/2 Street, 11 Ward, 10 District,
Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
950,000 |
|
Value of shares |
|
VND 9,500,000,000 |
|
Percentage |
|
5% |
|
|
||
|
10.
NAME |
|
Ms.
PHAM TRAN NHA |
|
ID Number/Passport |
|
311690369 |
|
Resident |
|
No.14/3 Hoang Du Khuong Street, 12 Ward,
10 District, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
500,000 |
|
Value of shares |
|
VND 5,000,000,000 |
|
Percentage |
|
2.63% |
|
|
||
|
11.
NAME |
|
Mr.
PHAN VUONG HUY MINH |
|
ID Number/Passport |
|
022912987 |
|
Resident |
|
No.1/6, Quarter 3, Tan Thoi Nhat Wad, 12
District, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
570,000 |
|
Value of shares |
|
VND 5,700,000,000 |
|
Percentage |
|
3% |
|
|
||
|
12.
NAME |
|
Mr.
HUYNH VAN SON |
|
ID Number/Passport |
|
020124210 |
|
Resident |
|
No.16/93/27 Nguyen Thien Thuat Street,
Ward 2, 3 District, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
300,000 |
|
Value of shares |
|
VND 3,000,000,000 |
|
Percentage |
|
1.58% |
|
|
||
|
13.
NAME |
|
Mr.
PHAM QUANG TRINH |
|
ID Number/Passport |
|
310561744 |
|
Resident |
|
No.013 Bis Truong Vinh Ky, Ward 7, My Tho
City, Tien Giang Province, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
285,000 |
|
Value of shares |
|
VND 2,850,000,000 |
|
Percentage |
|
1.5% |
|
|
||
|
14.
NAME |
|
Ms.
TRINH THUY DUNG |
|
ID Number/Passport |
|
020024209 |
|
Resident |
|
No. 686 Bui Dinh Tuy Street, Ward 14, Binh
Thanh District, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
150,000 |
|
Value of shares |
|
VND 1,500,000,000 |
|
Percentage |
|
0.79% |
|
|
||
FINANCIAL DATA
|
|||
|
|
|||
|
BALANCE
SHEET |
|||
Unit: One VND
|
|||
|
Balance sheet
date |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
Number of weeks |
52 |
52 |
52 |
ASSETS
|
|||
|
A – CURRENT
ASSETS |
98,643,000,000 |
53,961,198,632 |
23,263,000,000 |
|
I. Cash and cash
equivalents |
238,000,000 |
554,868,349 |
2,586,000,000 |
|
1. Cash |
238,000,000 |
554,868,349 |
2,586,000,000 |
|
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 |
54,269,000,000 |
20,219,659,148 |
4,128,000,000 |
|
1. Receivable from customers |
2,988,000,000 |
6,385,539,848 |
4,000,000 |
|
2. Prepayments to suppliers |
11,577,000,000 |
8,265,146,646 |
779,000,000 |
|
3. Inter-company receivable |
29,943,000,000 |
4,320,230,888 |
0 |
|
4. Receivable according to the progress of construction |
0 |
0 |
0 |
|
5. Other receivable |
9,762,000,000 |
1,248,741,766 |
3,346,000,000 |
|
6. Provisions for bad debts |
-1,000,000 |
0 |
-1,000,000 |
|
IV. Inventories |
40,827,000,000 |
30,274,818,635 |
12,799,000,000 |
|
1. Inventories |
40,827,000,000 |
30,274,818,635 |
12,799,000,000 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
0 |
|
V. Other Current
Assets |
3,309,000,000 |
2,911,852,500 |
3,750,000,000 |
|
1. Short-term prepaid expenses |
1,778,000,000 |
1,592,445,042 |
1,037,000,000 |
|
2. VAT to be deducted |
1,058,000,000 |
1,319,407,458 |
1,545,000,000 |
|
3. Taxes and other accounts receivable from the State |
0 |
0 |
0 |
|
4. Other current assets |
473,000,000 |
0 |
1,168,000,000 |
|
B. LONG-TERM
ASSETS |
341,895,000,000 |
260,023,719,392 |
252,541,000,000 |
|
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
|
205,970,000,000 |
219,111,487,121 |
231,309,000,000 |
|
1. Tangible assets |
192,521,000,000 |
209,680,133,327 |
221,146,000,000 |
|
- Historical costs |
239,904,000,000 |
239,873,339,272 |
234,237,000,000 |
|
- Accumulated depreciation |
-47,383,000,000 |
-30,193,205,945 |
-13,091,000,000 |
|
2. Financial leasehold assets |
3,514,000,000 |
0 |
0 |
|
- Historical costs |
3,514,000,000 |
0 |
0 |
|
- Accumulated depreciation |
0 |
0 |
0 |
|
3. Intangible assets |
8,812,000,000 |
9,023,061,658 |
9,235,000,000 |
|
- Initial costs |
9,975,000,000 |
9,974,638,350 |
9,975,000,000 |
|
- Accumulated amortization |
-1,163,000,000 |
-951,576,692 |
-740,000,000 |
|
4. Construction-in-progress |
1,123,000,000 |
408,292,136 |
928,000,000 |
|
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 |
135,925,000,000 |
40,912,232,271 |
21,232,000,000 |
|
1. Long-term prepaid expenses |
135,507,000,000 |
40,912,232,271 |
21,232,000,000 |
|
2. Deferred income tax assets |
0 |
0 |
0 |
|
3. Other long-term assets |
418,000,000 |
0 |
0 |
|
VI. Goodwill |
0 |
0 |
|
|
1. Goodwill |
0 |
0 |
|
|
TOTAL ASSETS |
440,538,000,000 |
313,984,918,024 |
275,804,000,000 |
|
|
|||
LIABILITIES
|
|||
|
A- LIABILITIES |
252,791,000,000 |
221,355,116,213 |
199,098,000,000 |
|
I. Current
liabilities |
116,778,000,000 |
69,075,672,214 |
27,068,000,000 |
|
1. Short-term debts and loans |
73,673,000,000 |
50,286,944,643 |
8,931,000,000 |
|
2. Payable to suppliers |
15,572,000,000 |
8,569,064,612 |
6,193,000,000 |
|
3. Advances from customers |
15,819,000,000 |
3,628,487,559 |
3,007,000,000 |
|
4. Taxes and other obligations to the State Budget |
-23,000,000 |
23,796,975 |
8,000,000 |
|
5. Payable to employees |
1,197,000,000 |
884,258,893 |
2,000,000 |
|
6. Accrued expenses |
188,000,000 |
0 |
0 |
|
7. Inter-company payable |
80,000,000 |
0 |
0 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
0 |
|
9. Other payable |
10,272,000,000 |
5,683,119,532 |
8,927,000,000 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
0 |
|
II. Long-Term
Liabilities |
136,013,000,000 |
152,279,443,999 |
172,030,000,000 |
|
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 |
136,013,000,000 |
152,279,443,999 |
172,030,000,000 |
|
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 |
|
8. Unearned Revenue |
0 |
0 |
0 |
|
9. Science and technology development fund |
0 |
0 |
0 |
|
B- OWNER’S
EQUITY |
187,747,000,000 |
92,629,801,811 |
76,706,000,000 |
|
I. OWNER’S
EQUITY |
187,751,000,000 |
92,634,301,811 |
76,711,000,000 |
|
1. Capital |
189,956,000,000 |
131,150,000,000 |
79,600,000,000 |
|
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 |
1,000,000 |
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 |
-2,206,000,000 |
-38,515,698,189 |
-2,889,000,000 |
|
11. Construction investment fund |
0 |
0 |
0 |
|
12. Business arrangement supporting fund |
0 |
0 |
0 |
|
II. Other
sources and funds |
-4,000,000 |
-4,500,000 |
-5,000,000 |
|
1. Bonus and welfare funds |
-4,000,000 |
-4,500,000 |
-5,000,000 |
|
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 |
440,538,000,000 |
313,984,918,024 |
275,804,000,000 |
|
|
|||
|
PROFIT
& LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2011 |
FY2010 |
FY2009 |
|
1. Total Sales |
116,094,000,000 |
31,022,260,349 |
989,000,000 |
|
2. Deduction item |
7,766,000,000 |
1,648,779,699 |
0 |
|
3. Net revenue |
108,328,000,000 |
29,373,480,650 |
989,000,000 |
|
4. Costs of goods sold |
69,671,000,000 |
28,313,067,432 |
1,842,000,000 |
|
5. Gross profit |
38,657,000,000 |
1,060,413,218 |
-853,000,000 |
|
6. Financial income |
42,000,000 |
32,134,506 |
32,000,000 |
|
7. Financial expenses |
12,419,000,000 |
25,916,183,684 |
1,503,000,000 |
|
- In which: Loan interest expenses |
11,996,000,000 |
25,213,704,158 |
1,501,000,000 |
|
8. Selling expenses |
17,999,000,000 |
3,277,452,062 |
74,000,000 |
|
9. Administrative overheads |
8,784,000,000 |
7,626,041,270 |
493,000,000 |
|
10. Net operating profit |
-503,000,000 |
-35,727,129,292 |
-2,891,000,000 |
|
11. Other income |
618,000,000 |
763,946,503 |
6,000,000 |
|
12. Other expenses |
105,000,000 |
694,822,223 |
4,000,000 |
|
13. Other profit /(loss) |
513,000,000 |
69,124,280 |
2,000,000 |
|
14. Total accounting profit before tax |
10,000,000 |
-35,658,005,012 |
-2,889,000,000 |
|
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 |
10,000,000 |
-35,658,005,012 |
-2,889,000,000 |
|
|
||||
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||||
|
|
||||
|
Description |
FY2011 |
FY2010 |
FY2009 |
Average Industry |
|
Current liquidity ratio |
0.84 |
0.78 |
0.86 |
1.80 |
|
Quick liquidity ratio |
0.50 |
0.34 |
0.39 |
1.12 |
|
Inventory circle |
2.00 |
1.31 |
0.14 |
3.56 |
|
Average receive period |
182.85 |
251.25 |
1,523.48 |
117.46 |
|
Utilizing asset performance |
0.25 |
0.09 |
0.00 |
1.10 |
|
Liability by total assets |
57.38 |
70.50 |
72.19 |
50.87 |
|
Liability by owner's equity |
134.64 |
238.97 |
259.56 |
169.03 |
|
Ebit / Total assets (ROA) |
2.73 |
-3.33 |
-0.50 |
12.05 |
|
Ebit / Owner's equity (ROE) |
6.39 |
-11.28 |
-1.81 |
27.25 |
|
Ebit / Total revenue (NPM) |
10.34 |
-33.67 |
-140.34 |
12.32 |
|
Gross profit / Total revenue (GPM) |
33.30 |
3.42 |
-86.25 |
29.69 |
|
Note: The Average Industry was calculated by VietnamCredit based on our own
statistical data |
||||
|
|
||||
PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
||
|
|
||
|
Trade Morality |
|
Fair |
|
Liquidity |
|
Low/Medium |
|
Payment status |
|
Normal |
|
Financial Situation |
|
Average |
|
Development trend |
|
Developing |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
Through its bank, L/C, T/T, D/P |
|
Sale Methods |
|
Distributor |
|
Public opinion |
|
Normal |
|
|
|
|
INTERPRETATION ON THE SCORES
|
|
|
|
The
subject was established in 2005 as a joint stock company. It specializes in
manufacturing and trading pharmaceuticals. At first, the subject registered chartered
capital of VND 80 billion, but in recent years, it has constantly increased
capital to extend scale. Now, aside from head office, factory in Long An
province and representative office, branch in Hochiminh City, the subject has
representative office in Dong Nai province and it has just opened an extra
office in Binh Dinh Province, this office is preparing to operate. Although
the subject established since 2005, but until 2010 the factory of the subject
had been officially put in operation, so the subject’s business result in
2009 and 2010 was not good. Up to
2011, the subject’s financial status was improved significantly. Its total
sales soared from VND 31 billion in 2010 to VND 116 billion in 2011 and it
gained VND 10 million in profit after tax. However, that profit was brought
from other activities. Its net operating profit was still negative. In
2011, almost the subject’s financial ratios were all better than those
previous years, yet they were still worse than the average industry, except
liability by total assets. The subject’s liability by total assets in 2011
decreased remarkably due to the growth of owner’s equity was higher than the
growth of liabilities and with rate 57.38%, the subject’s capital structure
was ranked as safe for investors and creditors. In general, the subject is operating normally. Its future prospect
seems bright. It is reliable for small financial commitments. |
------------ APPENDIX ----------
INDUSTRY DATA
|
||||||
|
|
||||||
|
Industry code |
GDP growth speed
by price compared with 1994 (%) |
Total
enterprises 2010 |
Total employees
2011 (Thous.pers.) |
Annual average
capital of enterprises 2010 (billion dongs) |
||
|
2012 |
2011 |
|||||
|
Agriculture,
Forestry and Fishing |
2.72 |
4.00 |
8,887 |
24,362.9 |
95,227 |
|
|
Industry and
Construction |
4.52 |
5.53 |
95,217 |
10,718.9 |
3,641,376 |
|
|
Trade and
Services |
6.42 |
6.69 |
187,195 |
15,270.2 |
6,957,082 |
|
|
|
||||||
ECONOMIC INDICATORS
|
||||||
|
|
||||||
|
|
2012 |
2011 |
2010 |
|||
|
Population (Million person) |
88.78 |
87.84 |
86.93 |
|||
|
Gross Domestic Products (USD
billion) |
136 |
119 |
102.2 |
|||
|
GDP Growth (%) |
5.03 |
5.89 |
6.78 |
|||
|
GDP Per Capita
(USD/person/year) |
1,540 |
1,300 |
1,160 |
|||
|
Inflation (% Change in Composite
CPI) |
9.21 |
18.58 |
11.75 |
|||
|
State Budget Deficit compared
with GDP (%) |
4.8 |
4.9 |
5.8 |
|||
|
|
||||||
SERVICE TRADE PERFORMANCE
|
||||||
|
|
||||||
|
Billion USD |
2012 |
2011 |
2010 |
|||
|
Exports |
114.6 |
96.3 |
72.2 |
|||
|
Imports |
114.3 |
105.8 |
84.8 |
|||
|
Trade Balance |
0.3 |
-9.5 |
-12.6 |
|||
Source: General
Statistics Office
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.80 |
|
|
1 |
Rs.91.95 |
|
Euro |
1 |
Rs.80.36 |
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.