MIRA
INFORM REPORT
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Report Date : |
07.12.2013 |
IDENTIFICATION DETAILS
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Name : |
MINH DAN PHARMACEUTICAL JSC |
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Registered Office : |
Hoa Xa Industrial Zone Lot E2 Rd N4, Nam Dinh, Nam Dinh |
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Country : |
Vietnam |
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Financials (as on) : |
December 2012 |
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Date of Incorporation : |
19.11.2009 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturer of Medical Equipment & Pharmaceutical products |
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No. of Employees : |
130 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
TATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – September 30th, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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Vietnam |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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%.
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Source : CIA |
REGISTERED NAME & COMPANY
SUMMARY
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Company Details |
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Organization Name |
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MINH DAN PHARMACEUTICAL JSC |
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Address |
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Hoa Xa Industrial Zone Lot E2 Rd N4, Nam Dinh, Nam Dinh |
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Country |
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Vietnam |
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Phone (S) |
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[+84] 350-3671086 |
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Facsimile |
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[+84] 350-3671113 |
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Email |
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Website |
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Primary Business Activity |
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Manufacturer |
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Key Industry |
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Medical Equipment & Pharmaceutical |
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Key Facts |
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Registered Legal Address |
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Hoa Xa Industrial Zone Lot E2 Rd N4, Nam Dinh, Nam Dinh |
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Operational Address |
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Hoa Xa Industrial Zone Lot E2 Rd N4, Nam Dinh, Nam Dinh |
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Trading Name |
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MD PHARCO |
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Issuing Authority |
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Dept. of Planning & Investment - Nam Dinh |
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License Number |
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0600337774 |
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License Status |
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License exists - Normal. |
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Legal Form - Category |
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Joint Stock Company |
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Legal Form |
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Joint Stock Company |
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Legal Form - Abbreviation |
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JSC |
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Operational Status of Business |
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Normal |
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Date of Registration |
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19 Nov, 2009 |
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Employees |
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130 |
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Capital |
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US$ 1,161,204 |
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Report Details |
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DIRECTORS/MANAGEMENT
Key Person
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Legal Title |
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Chairman |
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Name |
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Mr. Nguyen The Dung |
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Nationality |
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Vietnamese |
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COMPANY MANAGEMENT |
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Management Listings |
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COMPANY DIRECTORS |
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NEGATIVE INFORMATION
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NEGA-SCAN - ADVERSE DATA MONITORING |
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SHARE & SHARE CAPITAL
INFORMATION
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CAPITAL (Currency: VND - Vietnam Dong) |
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SHAREHOLDERS |
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PAYMENT INFORMATION
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DOMESTIC SALES & PURCHASES |
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PAYMENT TERMS |
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Selling |
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Purchasing |
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FINANCIAL INFORMATION
Financials - Summary (Currency: USD - US Dollar)
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Year |
Sales |
Assets |
Net Income |
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2011 Annual |
5,792,991 |
5,144,695 |
239,558 |
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2012 Annual |
7,025,469 |
5,268,946 |
277,844 |
Sales Trend – Analysis
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2003 |
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2007 |
2008 |
2009 |
2010 |
2011 |
2012 |
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FINANCIAL STATEMENT - DETAILED |
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Balance Sheet |
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Income Statement |
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Financial Ratios |
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Based on the corporate laws of Vietnam, legal entities which are Joint
Stock Company are not required to make public disclosure of their annual
financials. Although financials were obtained for reference. |
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FOREIGN EXCHANGE RATES
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Today's Exchange rate |
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ADDITIONAL INFORMATION
Primary Products
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Products / Materials / Services Description |
Activity |
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Injectable antibiotics |
Manufacturing, Exporting |
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Oral antibiotics |
Manufacturing, Exporting |
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Pharmaceutical equipment |
Manufacturing, Exporting |
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Pharmaceutical products |
Manufacturing, Exporting |
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SIC PRODUCT CLASSIFICATION & ACTIVITY |
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HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY |
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CORE BUSINESS DESCRIPTION |
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Core Business |
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The primary business focus of MINH DAN PHARMACEUTICAL JSC is
Manufacturing - Finished products. ·
Injectable antibiotics ·
Oral antibiotics ·
Pharmaceutical equipment ·
Pharmaceutical products
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Distribution |
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Supplementary Business |
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In addition to the core business, MINH DAN PHARMACEUTICAL JSC also is
engaged in the following areas of business: 1.
Exporting ·
Exporting - Finished products 2.
Importing ·
Importing - Raw materials |
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REPUTATION |
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Reference checking for the purpose of establishing the MINH DAN
PHARMACEUTICAL JSC's reputation within the respective industry failed to
reveal any adverse information. |
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BANK DETAILS |
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LOCAL BRANCHES & MANAGEMENT |
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INTERNATIONAL TRADE - Activity & Markets |
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OFFICE & FACILITIES |
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QUALITY ACCREDITATION |
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Quality Accreditation Listings |
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PREVIOUS BUSINESS LICENSE/S |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.67 |
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UK Pound |
1 |
Rs.100.65 |
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Euro |
1 |
Rs.84.25 |
INFORMATION DETAILS
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Report
Prepared by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.