|
Report Date : |
31.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
IN NO PHA COSMETIC PHARMACEUTICAL CO., LTD |
|
|
|
|
Registered Office : |
No. 135/17/13 - 135/17/15 Nguyen Huu Canh Street, Ward 22, Binh Thanh
District, Ho Chi Minh City |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Year of Incorporation : |
2004 |
|
|
|
|
Com. Reg. No.: |
0303537298 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Subject is specializing in wholesaling and
retailing, perfume, cosmetics. |
|
|
|
|
No. of Employees : |
60 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
No complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 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
|
|
||
|
English Name |
|
IN NO PHA COSMETIC PHARMACEUTICAL CO., LTD
|
|
Vietnamese Name |
|
CONG TY TNHH DUOC MY PHAM IN NO PHA |
|
Short name |
|
INNOPHA CO., LTD |
|
Type of Business |
|
Limited liability company |
|
Year Established |
|
2004 |
|
Business Registration No. |
|
0303537298 |
|
Date of the latest adjustment (6th) |
|
26 Dec 2009 |
|
Place of Registration |
|
Business Registration Office of Planning and
Investment Department of Hochiminh City |
|
Chartered capital |
|
VND 4,900,000,000 |
|
Tax code |
|
0303537298 |
|
Total Employees |
|
60 |
Historical Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Business
Registration No: 4102025717 issued on 25 Nov 2004 Changed to: 0303537298 |
26
Dec 2009 |
|
2 |
Subject has got former Chartered capital:
VND 1,000,000,000 Changed to: VND 4,900,000,000 |
26
Dec 2009 |
|
3 |
Subject has got former Address: No. 602/17
Dien Bien Phu Street, Ward 22, Binh Thanh District, Ho Chi Minh City, Vietnam
Changed to: No. 135/17/13 - 135/17/15
Nguyen Huu Canh Street, Ward 22, Binh Thanh District, Ho Chi Minh City,
Vietnam |
- |
|
4 |
Subject has got former Registered
Vietnamese Name: CONG TY TNHH DUOC PHAM QUOC TE SANG HAI Changed to: CONG TY TNHH DUOC MY PHAM IN
NO PHA |
|
|
Head Office |
||
|
Address |
|
No. 135/17/13 - 135/17/15 Nguyen Huu Canh Street,
Ward 22, Binh Thanh District, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 3512 9999 - 3512 4744 |
|
Fax |
|
(84-8) 3512 4711 - 3512 4746 |
|
Email |
|
|
|
Website |
|
|
|
SHANG HAI
INTERNATIONAL TRADING CO., LTD |
||
|
Business Registration |
|
0303515135 |
|
Date of Registration |
|
11 Nov 2009 |
|
Place of Registration |
|
Business Registration Office of Planning
and Investment Department of Hochiminh City |
|
Chartered capital |
|
VND 1,900,000,000 |
|
Tax code |
|
0303515135 |
|
Address |
|
Van Thanh View Office Building, No. 135/17/15 Nguyen Huu Canh Street
Ward 22, Binh Thanh District, Ho Chi Minh City, Vietnam |
|
Tel |
|
(84-8) 3512 4744 |
|
Fax |
|
(84-8) 3512 4745 |
|
Website |
|
|
|
1.
NAME |
|
Mr.
LE VAN DUNG MINH |
|
Position |
|
Director |
|
Education |
|
MBA |
|
Date of Birth |
|
01 Jan 1966 |
|
ID Number/Passport |
|
023144887 |
|
ID Issue Date |
|
12 Aug 2004 |
|
ID Issue Place |
|
Police Station of Ho
Chi Minh City |
|
Resident |
|
No. 84E Bui Dinh Tuy Street,
Ward 24, Binh Thanh District, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobile phone |
|
+84 903 728 600 |
|
Email |
|
|
|
Qualification |
|
Pharmacist |
|
Note: Mr. LE VAN DUNG MINH is also named LE MINH
for short |
||
|
|
||
|
2.
NAME |
|
Ms.
NGUYEN NGOC QUYNH |
|
Position |
|
Deputy Director |
|
Resident |
|
Ho Chi Minh City,
Vietnam |
|
Nationality |
|
Vietnamese |
|
Qualification |
|
Pharmacist |
|
|
||
|
3.
NAME |
|
Ms.
NGUYEN THI MY PHUC |
|
Position |
|
Chief Accountant |
|
Resident |
|
Ho Chi Minh City,
Vietnam |
|
Nationality |
|
Vietnamese |
|
Qualification |
|
Accounting |
|
Subject
is specializing in wholesaling and retailing, perfume, cosmetics. Currently,
it is distributor gelatin and collagen of NITTA GELATIN INC (Japan) |
|
IMPORT: |
||
|
·
Market |
|
Japan and China |
|
|
||
|
EXPORT: |
||
|
·
Types of products |
|
N/A |
|
1.
VIETNAM EXPORT IMPORT COMMERCIAL JOINT STOCK BANK |
||
|
Address |
|
8th Floor, VinCom Center, No. 72 Le Thanh Ton Street, District 1, Ho
Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 3821 0055 |
|
Fax |
|
(84-8) 3829 6063 |
|
|
||
|
2.
ASIA COMMERCIAL JOINT STOCK BANK BINH THANH BRANCH |
||
|
Address |
|
No.71 Dien Bien Phu, Ward 15, Binh Thanh District, Ho Chi Minh City,
Vietnam |
|
Telephone |
|
(84-8) 3518 0787 |
|
Fax |
|
(84-8) 3518 0788 |
|
VND Account |
|
15789319 |
|
1.
NAME |
|
Mr.
LE VAN DUNG MINH |
|
Position |
|
Director |
|
Date of Birth |
|
01 Jan 1966 |
|
ID Number/Passport |
|
023144887 |
|
Issued on |
|
12 Aug 2004 |
|
Issued Place |
|
Police Station of Ho Chi Minh City |
|
Resident |
|
No. 84E Bui Dinh Tuy Street, Ward 24, Binh
Thanh District, Ho Chi Minh City, Vietnam |
|
Email |
|
|
|
Mobile phone |
|
+84 903 728 600 |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 4,655,000,000 |
|
Percentage |
|
95% |
|
|
||
|
2.
NAME |
|
Mr.
LE VAN THIEN MINH |
|
Date of Birth |
|
1964 |
|
ID Number/Passport |
|
205384851 |
|
Resident |
|
134/10 Doan Van Bo, Ward 9, District 4, Ho
Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 245,000,000 |
|
Percentage |
|
5% |
|
Financial statements of subject are not available although we tried to
collect. |
|
Trade Morality |
|
Normal |
|
Liquidity |
|
N/A |
|
Payment status |
|
N/A |
|
Financial Situation |
|
N/A |
|
Development trend |
|
Stable |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
Cash and through the bank, T/T |
|
Sale Methods |
|
Retailer and Wholesaler |
|
Public opinion |
|
Normal |
|
INNOPHA CO., LTD was established in 2004. It is now operating
under business registration no. 0303537298 and chartered capital VND 4.9
billion. Besides subject, Mr. Le Van Dung Minh – Director also has another
company name SHANG HAI INTERNATIONAL TRADING CO., LTD. Subject
is specializing in trading in perfume, cosmetics. The subject supplies
Gelatin material and Collagen products. Currently, INNOPHA is exclusive
distributor gelatin and collagen of NITTA GELATIN INC (Japan) in Vietnam. It
imports products from China and Japan, and then provides products for some
salons and spas in Ho Chi Minh City and neighboring provinces. As Mr.
Le Van Dung Minh shared, SHANG HAI INTERNATIONAL TRADING
CO., LTD and subject have about 100 employees, in which subject has about 60
persons. The operation of subject is stable. Subject is still operating as a small-medium scale company in
comparison with other enterprises in the same field. Business activities of
the subject are base on some traditional customers. Its
head office located at small alley, so this is a disadvantage for subject’s
business activities. The management capacity of subject is average. However,
Board of Directors of subject has qualification in pharmacy industry and many
experience in this field. In general, subject is operating normally and quite busy. It has
capacity to develop more in future. In our opinion, subject can meet small
financial commitment. |
------------ 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 |
|||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 66.57 |
|
|
1 |
Rs. 103.34 |
|
Euro |
1 |
Rs. 88.16 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.