|
Report Date : |
21.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
DOMESCO MEDICAL IMPORT-EXPORT JOINT STOCK CORPORATION |
|
|
|
|
Registered Office : |
No. 66 National Road 30, My Phu Ward, Cao Lanh City, Dong Thap Province |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2012 (Consolidated) |
|
|
|
|
Year of Incorporation : |
1985 |
|
|
|
|
Com. Reg. No.: |
1400460395 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing, trading, importing and exporting medicines, medicinal materials for human |
|
|
|
|
No. of Employees : |
1,300 |
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 (31.03.2011) |
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 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 2009-12 growing less than
the 7% per annum average achieved during the previous decade. In 2012, however,
exports increased by more than 12%, 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. 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 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 financial analysts believe it could be as high as 15%.
Source
: CIA
SUBJECT IDENTIFICATION &
LEGAL FORM
|
||
|
|
||
Current legal status
|
||
|
Registration English Name |
|
DOMESCO MEDICAL IMPORT-EXPORT JOINT STOCK CORPORATION
|
|
Registration Vietnamese Name
|
|
CONG TY CP XUAT NHAP KHAU Y TE DOMESCO |
|
Registration Short name |
|
DOMESCO |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
1985 |
|
Establishment Decision |
|
144/QD.UB.TL |
|
Date of Issuance |
|
27 Nov 2003 |
|
Place of Issuance |
|
People's Committee of Dong Thap Province |
|
Business Registration No. |
|
1400460395 |
|
Date of 29th adjustment |
|
28 Oct 2011 |
|
Place of Registration |
|
Business Registration Office - Planning
and Investment Department of Dong Thap Province |
|
Chartered capital |
|
VND 178,093,360,000 |
|
Legal capital |
|
VND
6,000,000,000 |
|
Status |
|
Listed |
|
Stock symbol |
|
DMC |
|
Stock Market |
|
HOSE |
|
Outstanding stock |
|
17,809,336 |
|
Paid-up capital |
|
VND 178,093,360,000 |
|
Tax code |
|
1400460395 |
|
Total Employees |
|
1,300 |
|
Size |
|
Large |
|
Note: The given name “DOMESCO MEDICAL IMPORT EXPORT
JOINT STOCK CORPORATION” is not correct |
||
Historical Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Business
Registration No: 5103000015 (Granted on 30 Dec 2003) Changed to: 1400460395 |
05
Oct 2009 |
|
2 |
Subject has got former Chartered capital:
VND 137,699,990,000 Changed to: VND 178,093,360,000 |
05
Oct 2009 |
|
3 |
Subject has got former Chartered capital:
VND 107 billion Changed to: VND 137,699,990,000 |
06
Aug 2007 |
|
4 |
Subject has got former Chartered capital:
VND 80 billion hanged to: VND 107 billion |
01
Jan 2007 |
|
5 |
Subject has got former Chartered capital:
VND 60 billion Changed to: VND 80 billion |
01
Aug 2005 |
|
6 |
Subject has got former Registered
Vietnamese Name: CONG TY XUAT NHAP KHAU Y TE DONG THAP Changed to: CONG TY CP XUAT NHAP KHAU Y TE
DOMESCO |
01
Jan 2004 |
|
7 |
Subject has got former Tax code No:
1400102985 Changed to: 1400460395 |
31
Dec 2003 |
|
8 |
Subject has got former Registered
Vietnamese Name: CONG TY XUAT NHAP KHAU PHUC VU Y TE Changed to: CONG TY XUAT NHAP KHAU Y TE
DONG THAP |
14
Nov 1992 |
|
9 |
Subject has got former Registered
Vietnamese Name: CONG TY DOMESCO Changed to: CONG TY XUAT NHAP KHAU PHUC VU
Y TE |
20
Oct 1989 |
|
10 |
Subject has got former Registered
Vietnamese Name: CONG TY DICH VU VA CUNG UNG VAT TU Y TE Changed to: CONG TY DOMESCO |
19
May 1989 |
|
11 |
Subject has got former Registered Vietnamese
Name: CONG TY CUNG UNG VAT TU VA THIET BI Y TE Changed to: CONG TY DICH VU VA CUNG UNG
VAT TU Y TE |
21
Sep 1988 |
|
12 |
Subject has got former Registered
Vietnamese Name: CONG TY VAT TU THIET BI Y TE Changed to: CONG TY CUNG UNG VAT TU VA THIET
BI Y TE |
28
Jul 1987 |
|
|
||
ADDRESSES
|
||
|
|
||
|
Head Office |
||
|
Address |
|
No. 66 National Road 30, My Phu Ward, Cao
Lanh City, Dong Thap Province, Vietnam |
|
Telephone |
|
(84-67) 3852 278 - 3856324 - 3856325 -
3859 370 |
|
Fax |
|
(84-67) 3851 270 |
|
Email |
|
|
|
Website |
|
|
|
Note: The given fax number (84-67) 3851 207” is not
correct |
||
|
Representative
office in Ho Chi Minh |
||
|
Address |
|
No. 37 Thanh Thai, Ward 14, District 10,
Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 38662907/ 38654185/ 38655287/
38652599/ 38649030 |
|
Fax |
|
(84-8) 3865 0447 |
|
Email |
|
|
|
|
||
|
Branch in Hai
Duong |
||
|
Address |
|
Lot 61.52 Area 10, Hai Tan Ward , Hai
Duong City, Hai Duong Province, Vietnam |
|
|
||
|
Branch in Nghe
An |
||
|
Address |
|
Lot 20-21, Villa Area North Nguyen Sy
Sach, Ha Huy Tap Ward , Vinh City, Nghe An Province, Vietnam |
|
|
||
|
Branch in Thai
Nguyen |
||
|
Address |
|
47 Group 14, Trung Vuong Street , Thai Nguyen
City, Thai Nguyen Province, Vietnam |
|
|
||
|
Branch in Ha Noi
|
||
|
Address |
|
23-24 N7A Trung Hoa - Nhan Chinh, Nhan
Chinh Ward, Thanh Xuan District, Ha Noi City, Vietnam |
|
Telephone |
|
(84-4) 3556 8557 - 3556 8558 |
|
Fax |
|
(84-4) 3556 8559 |
|
Email |
|
|
|
|
||
|
Branch in Da
Nang |
||
|
Address |
|
77 Ly Thai Tong Thanh Khe Ward, Thanh Khe District,
Da Nang City, Vietnam |
|
Telephone |
|
(84-511) - 2244812 - 3760789 |
|
Fax |
|
(84-511) - 3760790 |
|
Email |
|
|
|
|
||
|
Branch in Ho Chi
Minh |
||
|
Address |
|
24A -24B Center Street, Tan Tao Industrial
Zone, TanTao A Ward, Binh Tan District, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 54259996 - 54257687- 54257688 -
54257689 |
|
Fax |
|
(84-8) 54259997 |
|
Email |
|
|
|
|
||
|
Branch in Can
Tho |
||
|
Address |
|
Lot A 325B-325C, Population Area 91B, An Khanh
Ward, Ninh Kieu District, Can Tho City, Vietnam |
|
Telephone |
|
(84-710) 3780359 - 3781992 - 2222786 |
|
Fax |
|
(84-710) 6252045 |
|
Email |
|
|
|
|
||
|
Branch in Dong
Thap |
||
|
Address |
|
No. 32 Le Anh Xuan Street, Cluster 2, Ward
2, Cao Lanh City, Dong Thap Province, Vietnam |
|
Telephone |
|
(84-67) 2210231 - 2210423 |
|
Fax |
|
(84-67) 3875761 |
|
Email |
|
|
|
|
||
|
Branch in Hai
Duong |
||
|
Address |
|
77 Tam Giang Street, Tran Hung Dao Ward,
Hai Duong City, Hai Duong Province, Vietnam |
|
Telephone |
|
(84-320) 383 0585 |
|
Fax |
|
(84-320) 383 0325 |
|
Email |
|
|
|
|
||
|
Branch in Dak
Lak |
||
|
Address |
|
No. 72C Nguyen Khuyen Street, Tan Loi
Ward, Buon Ma Thuot City, Dak Lak Province, Vietnam |
|
|
||
|
Branch in Ho Chi
Minh |
||
|
Address |
|
24A -24B, Center St., Tan Tao Industrial
Zone, TanTao A Ward, Binh Tan District, Ho Chi Minh City, Vietnam |
|
|
||
|
Branch in Dong
Nai |
||
|
Address |
|
No. 09/33 Dong Khoi Street, KP4, Tan Hiep
Ward, Bien Hoa City, Dong Nai Province, Vietnam |
|
|
||
|
Branch in Nghe
An |
||
|
Address |
|
No. 155 Phan Dinh Phung Street, Vinh City,
Nghe An Province, Vietnam |
|
|
||
SUBSIDIARIES AND RELATED
COMPANIES
|
||
|
|
||
|
1. DOMENOL
COMPANY LIMITED |
||
|
Business Registration |
|
1401164085 |
|
Date of Registration |
|
23 Dec 2009 |
|
Place of Registration |
|
Business Registration Office - Planning and Investment Department of
Dong Thap Province |
|
Registered Capital |
|
VND 10,000,000,000 |
|
Tax code |
|
1401164085 |
|
Address |
|
Domesco Industrial Zone, An Dinh Hamlet - An Binh Commune, Cao Lanh
City, Dong Thap Province, Vietnam |
|
|
||
|
2. BINH THUAN
PHARMACEUTICAL AND MEDICAL EQUIPMENT JOINT STOCK COMPANY |
||
|
Business Registration |
|
3400324879 |
|
Date of Registration |
|
15 Jun 2011 |
|
Place of Registration |
|
Business Registration Office - Planning and Investment Department of
Dong Thap Province |
|
Registered Capital |
|
VND 13,020,000,000 |
|
Tax code |
|
3400324879 |
|
Address |
|
No. 192 Nguyen Hoi, Phan Thiet City, Binh Thuan Province, Vietnam |
|
Tel |
|
(84-62) 3823 096 |
|
|
||
|
3. TAYNINH
PHARMACEUTICAL JOINT STOCK COMPANY |
||
|
Business Registration |
|
3900244043 |
|
Date of Registration |
|
25 Jul 2011 |
|
Place of Registration |
|
Business Registration Office - Planning and Investment Department of
Dong Thap Province |
|
Registered Capital |
|
VND 3,597,000,000 |
|
Tax code |
|
3900244043 |
|
Address |
|
No.10 Nguyen Thai Hoc Street, Tay Ninh City, Tay Ninh Province,
Vietnam |
|
Tel |
|
(84-66) 3812346 |
|
|
||
|
4. DOMEDIC
MEDICAL AND PHARMACEUTICAL JOINT STOCK COMPANY |
||
|
Business Registration |
|
5103000079 |
|
Date of Registration |
|
03 Apr 2007 |
|
Place of Registration |
|
Business Registration Office - Planning and Investment Department of
Dong Thap Province |
|
Registered Capital |
|
VND 60,000,000,000 |
|
Tax code |
|
1400601945 |
|
Address |
|
No. 700 National Road 30, My Tan Commune, Cao Lanh City, Dong Thap
Province, Vietnam |
|
|
||
|
5. DOMENAL JOINT
STOCK COMPANY |
||
|
Business Registration |
|
1400641835 |
|
Date of Registration |
|
06 Mar 2008 |
|
Place of Registration |
|
Business Registration Office - Planning and Investment Department of
Dong Thap Province |
|
Registered Capital |
|
VND 125,000,000,000 |
|
Tax code |
|
1400641835 |
|
Address |
|
National Road 30, Hamlet 1, Cao Lanh City, Dong Thap Province, Vietnam
|
|
Tel |
|
(84-67) 3890712/ 3890715 |
|
Fax |
|
(84-67) 3890717 |
|
Website |
|
|
|
|
||
DIRECTORS
|
||
|
|
||
|
1.
NAME |
|
Mr.
NGUYEN CHI THANH |
|
Position |
|
Chairman |
|
Resident |
|
Dong Thap Province,
Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
2.
NAME |
|
Mr.
HUYNH TRUNG CHANH |
|
Position |
|
General Director |
|
Education |
|
Hanoi University of Pharmacy |
|
Date of Birth |
|
29 Sep 1947 |
|
ID Number/Passport |
|
340003406 |
|
ID Issue Date |
|
29 Dec 2003 |
|
ID Issue Place |
|
Police Station of
Dong Thap Province |
|
Resident |
|
No. 58 Nguyen Dinh Chieu
Ward 2, Cao Lanh City, Dong Thap Province, Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobile phone |
|
(84-67) 3856326 |
|
Qualification |
|
Pharmacist |
|
|
||
|
3.
NAME |
|
Ms.
NGUYEN THI TIEN |
|
Position |
|
Deputy General Director |
|
Date of Birth |
|
01 Jan 1956 |
|
ID Number/Passport |
|
340556057 |
|
ID Issue Date |
|
16 Feb 2004 |
|
ID Issue Place |
|
Police Station of
Dong Thap Province |
|
Resident |
|
No. 88 Hung Vuong
Ward 2, Cao Lanh City, Dong Thap Province, Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobile phone |
|
(84-67) 3856326 |
|
Qualification |
|
Chemical Engineer |
|
|
||
|
4.
NAME |
|
Mr.
NGUYEN VAN HOA |
|
Position |
|
Deputy General Director |
|
Date of Birth |
|
21 Oct 1967 |
|
Nationality |
|
Vietnamese |
|
|
||
|
5.
NAME |
|
Mr.
LE VAN NHA PHUONG |
|
Position |
|
Deputy General Director |
|
Nationality |
|
Vietnamese |
|
|
||
|
6.
NAME |
|
Ms.
PHAM NGOC TUYEN |
|
Position |
|
Chief accountant |
|
Nationality |
|
Vietnamese |
|
|
||
BUSINESS NATURE AND ACTIVITIES
|
|
|
|
The company is involving in: |
|
|
|
IMPORT & EXPORT ACTIVITIES |
||
|
|
||
|
IMPORT: |
||
|
·
Types of products |
|
Medical equipments, pharmaceutical products |
|
·
Market |
|
France, India, Germany, Australia, Canada, China, Hong Kong, Italy, Japan,
Korea, Malaysia, Netherlands, Singapore, Switzerland, Taiwan, USA, etc. |
|
·
Mode of payment |
|
L/C, T/T |
|
|
||
|
EXPORT: |
||
|
·
Market |
|
Hong Kong, Japan, Laos, Cambodia, Myanmar, Philippines, Africa, etc. |
|
·
Mode of payment |
|
L/C, T/T |
|
|
||
BANKERS
|
||
|
|
||
|
1.
VIET NAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE DONG THAP BRANCH |
||
|
Address |
|
No.87 Nguyen Hue, Cao Lanh City, Dong Thap Province, Vietnam |
|
Telephone |
|
(84-67) 3851095 |
|
Fax |
|
(84-67) 3851721 |
|
|
||
|
2.
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 |
|
|
||
|
3.
BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM DONG THAP BRANCH |
||
|
Address |
|
No.12A 30/4 Street, Ward 1, Cao Lanh City, Dong Thap Province, Vietnam
|
|
Telephone |
|
(84-067) 3854454 |
|
|
||
SHAREHOLDERS
|
|
|||||||||||||||
Following
are registration shareholders of subject:
|
|
|||||||||||||||
|
1.
NAME |
|
STATE
CAPITAL INVESTMENT CORPORATION |
|
|||||||||||||
|
Business Registration |
|
0101992921 |
|
|||||||||||||
|
Date of Registration |
|
09 Jul 2010 |
|
|||||||||||||
|
Place of Registration |
|
Business Registration Office - Planning and Investment Department of
Ha Noi City |
|
|||||||||||||
|
Registered Capital |
|
VND 19,000,000,000,000 |
|
|||||||||||||
|
Tax code |
|
0101992921 |
|
|||||||||||||
|
Address |
|
No. 15A Tran Khanh Du Street, Hoan Kiem
District, Ha Noi City, Vietnam |
|
|||||||||||||
|
Tel |
|
(84-4) 62780126 |
|
|||||||||||||
|
Fax |
|
(84-4) 62780136 |
|
|||||||||||||
|
Number of shares |
|
4,750,650 |
|
|||||||||||||
|
Value of shares |
|
VND 47,506,500,000 |
|
|||||||||||||
|
Percentage |
|
26.68% |
|
|||||||||||||
|
|
|
|||||||||||||||
|
2.
NAME |
|
Mr.
HUYNH TRUNG CHANH |
|
|||||||||||||
|
Position |
|
General Director |
|
|||||||||||||
|
Date of Birth |
|
29 Sep 1947 |
|
|||||||||||||
|
ID Number/Passport |
|
340003406 |
|
|||||||||||||
|
Issued on |
|
29 Dec 2003 |
|
|||||||||||||
|
Issued Place |
|
Police Station of Dong Thap Province |
|
|||||||||||||
|
Resident |
|
No. 58 Nguyen Dinh Chieu Ward 2, Cao Lanh
City, Dong Thap Province, Vietnam |
|
|||||||||||||
|
Work phone |
|
(84-67) 3856326 |
|
|||||||||||||
|
Nationality |
|
Vietnamese |
|
|||||||||||||
|
Number of Shares |
|
101,106 |
|
|||||||||||||
|
Value of shares |
|
VND 1,011,060,000 |
|
|||||||||||||
|
Percentage |
|
0.57% |
|
|||||||||||||
|
|
|
|||||||||||||||
|
3.
NAME |
|
Ms.
NGUYEN THI TIEN |
|
|||||||||||||
|
Position |
|
Deputy General Director |
|
|||||||||||||
|
Date of Birth |
|
01 Jan 1956 |
|
|||||||||||||
|
ID Number/Passport |
|
340556057 |
|
|||||||||||||
|
Issued on |
|
16 Feb 2004 |
|
|||||||||||||
|
Issued Place |
|
Police Station of Dong Thap Province |
|
|||||||||||||
|
Resident |
|
No. 88 Hung Vuong Ward 2, Cao Lanh City,
Dong Thap Province, Vietnam |
|
|||||||||||||
|
Work phone |
|
(84-67) 3856326 |
|
|||||||||||||
|
Nationality |
|
Vietnamese |
|
|||||||||||||
|
Number of Shares |
|
47,841 |
|
|||||||||||||
|
Value of shares |
|
VND 478,410,000 |
|
|||||||||||||
|
Percentage |
|
0.27% |
|
|||||||||||||
|
|
|
|||||||||||||||
CONSOLIDATED FINANCIAL DATA
|
|
|||||||||||||||
|
|
|
|||||||||||||||
|
BALANCE
SHEET |
|
|||||||||||||||
Unit: One VND
|
|
|||||||||||||||
|
Balance sheet
date |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
||||||||||||
|
Number of weeks |
52 |
52 |
52 |
|
||||||||||||
|
Audit status |
Non-audited |
Audited |
Audited |
|
||||||||||||
ASSETS
|
|
|||||||||||||||
|
A – CURRENT
ASSETS |
517,763,292,371 |
503,495,293,310 |
436,617,528,961 |
|
||||||||||||
|
I. Cash and cash
equivalents |
37,317,855,539 |
62,388,417,823 |
41,392,630,785 |
|
||||||||||||
|
1. Cash |
37,317,855,539 |
62,388,417,823 |
41,392,630,785 |
|
||||||||||||
|
2. Cash equivalents |
|
0 |
0 |
|
||||||||||||
|
II. Short-term
investments |
|
0 |
0 |
|
||||||||||||
|
1. Short-term investments |
|
0 |
0 |
|
||||||||||||
|
2. Provisions for devaluation of short-term investments |
|
0 |
0 |
|
||||||||||||
|
III. Accounts
receivable |
270,508,503,216 |
240,950,695,387 |
185,120,424,859 |
|
||||||||||||
|
1. Receivable from customers |
266,174,121,402 |
216,025,205,487 |
178,312,460,440 |
|
||||||||||||
|
2. Prepayments to suppliers |
2,503,353,773 |
1,762,249,141 |
8,383,145,351 |
|
||||||||||||
|
3. Inter-company receivable |
|
0 |
0 |
|
||||||||||||
|
4. Receivable according to the progress of construction |
|
0 |
0 |
|
||||||||||||
|
5. Other receivable |
6,364,332,874 |
25,293,190,496 |
4,485,642,016 |
|
||||||||||||
|
6. Provisions for bad debts |
-4,533,304,833 |
-2,129,949,737 |
-6,060,822,948 |
|
||||||||||||
|
IV. Inventories |
198,767,920,131 |
188,122,862,538 |
199,460,540,525 |
|
||||||||||||
|
1. Inventories |
198,767,920,131 |
188,122,862,538 |
199,460,540,525 |
|
||||||||||||
|
2. Provisions for devaluation of inventories |
|
0 |
0 |
|
||||||||||||
|
V. Other Current
Assets |
11,169,013,485 |
12,033,317,562 |
10,643,932,792 |
|
||||||||||||
|
1. Short-term prepaid expenses |
3,690,309,610 |
4,176,904,767 |
3,355,361,128 |
|
||||||||||||
|
2. VAT to be deducted |
2,516,178,640 |
1,893,672,038 |
960,841,582 |
|
||||||||||||
|
3. Taxes and other accounts receivable from the State |
|
0 |
0 |
|
||||||||||||
|
4. Other current assets |
4,962,525,235 |
5,962,740,757 |
6,327,730,082 |
|
||||||||||||
|
B. LONG-TERM
ASSETS |
306,633,930,889 |
330,500,666,984 |
330,190,987,708 |
|
||||||||||||
|
I. Long term
accounts receivable |
|
0 |
0 |
|
||||||||||||
|
1. Long term account receivable from customers |
|
0 |
0 |
|
||||||||||||
|
2. Working capital in affiliates |
|
|
|
|
||||||||||||
|
3. Long-term inter-company receivable |
|
0 |
0 |
|
||||||||||||
|
4. Other long-term receivable |
|
0 |
0 |
|
||||||||||||
|
5. Provisions for bad debts from customers |
|
0 |
0 |
|
||||||||||||
|
II. Fixed assets
|
286,086,983,497 |
284,040,629,052 |
242,938,886,127 |
|
||||||||||||
|
1. Tangible assets |
225,672,003,857 |
219,952,305,631 |
181,295,165,767 |
|
||||||||||||
|
- Historical costs |
371,825,720,396 |
339,234,621,357 |
276,897,851,546 |
|
||||||||||||
|
- Accumulated depreciation |
-146,153,716,539 |
-119,282,315,726 |
-95,602,685,779 |
|
||||||||||||
|
2. Financial leasehold assets |
|
0 |
0 |
|
||||||||||||
|
- Historical costs |
|
0 |
0 |
|
||||||||||||
|
- Accumulated depreciation |
|
0 |
0 |
|
||||||||||||
|
3. Intangible assets |
38,238,493,096 |
37,720,670,808 |
38,154,107,719 |
|
||||||||||||
|
- Initial costs |
40,255,520,462 |
39,081,956,997 |
38,952,756,997 |
|
||||||||||||
|
- Accumulated amortization |
-2,017,027,366 |
-1,361,286,189 |
-798,649,278 |
|
||||||||||||
|
4. Construction-in-progress |
22,176,486,544 |
26,367,652,613 |
23,489,612,641 |
|
||||||||||||
|
III. Investment
property |
|
0 |
0 |
|
||||||||||||
|
Historical costs |
|
0 |
0 |
|
||||||||||||
|
Accumulated depreciation |
|
0 |
0 |
|
||||||||||||
|
IV. Long-term
investments |
14,640,641,988 |
41,798,621,988 |
84,033,180,000 |
|
||||||||||||
|
1. Investments in affiliates |
|
8,500,000,000 |
4,500,000,000 |
|
||||||||||||
|
2. Investments in business concerns and joint ventures |
20,000,000,000 |
33,570,200,000 |
73,570,200,000 |
|
||||||||||||
|
3. Other long-term investments |
626,000,000 |
713,780,000 |
5,962,980,000 |
|
||||||||||||
|
4. Provisions for devaluation of long-term investments |
-5,985,358,012 |
-985,358,012 |
0 |
|
||||||||||||
|
V. Other
long-term assets |
5,906,305,404 |
4,661,415,944 |
3,218,921,581 |
|
||||||||||||
|
1. Long-term prepaid expenses |
2,225,225,042 |
2,371,914,086 |
3,218,921,581 |
|
||||||||||||
|
2. Deferred income tax assets |
3,681,080,362 |
2,289,501,858 |
0 |
|
||||||||||||
|
3. Other long-term assets |
|
0 |
0 |
|
||||||||||||
|
VI. Goodwill |
|
0 |
0 |
|
||||||||||||
|
1. Goodwill |
|
0 |
0 |
|
||||||||||||
|
TOTAL ASSETS |
824,397,223,260 |
833,995,960,294 |
766,808,516,669 |
|
||||||||||||
|
|
|
|||||||||||||||
LIABILITIES
|
|
|||||||||||||||
|
A- LIABILITIES |
252,893,852,391 |
258,578,069,511 |
220,316,632,699 |
|
||||||||||||
|
I. Current
liabilities |
248,298,514,578 |
244,851,002,247 |
195,047,112,250 |
|
||||||||||||
|
1. Short-term debts and loans |
74,768,284,329 |
119,689,116,911 |
112,982,981,362 |
|
||||||||||||
|
2. Payable to suppliers |
80,465,464,246 |
51,249,652,183 |
42,640,270,151 |
|
||||||||||||
|
3. Advances from customers |
1,470,070,435 |
1,290,535,070 |
1,779,555,838 |
|
||||||||||||
|
4. Taxes and other obligations to the State Budget |
18,786,556,251 |
28,219,220,804 |
12,138,683,380 |
|
||||||||||||
|
5. Payable to employees |
23,583,320,444 |
15,461,181,053 |
10,233,953,653 |
|
||||||||||||
|
6. Accrued expenses |
35,030,239,232 |
11,127,146,978 |
0 |
|
||||||||||||
|
7. Inter-company payable |
|
0 |
0 |
|
||||||||||||
|
8. Payable according to the progress of construction contracts |
|
0 |
0 |
|
||||||||||||
|
9. Other payable |
11,959,661,322 |
12,628,373,463 |
10,485,221,534 |
|
||||||||||||
|
10. Provisions for short-term accounts payable |
|
0 |
0 |
|
||||||||||||
|
11. Bonus and welfare funds |
2,234,918,319 |
5,185,775,785 |
4,786,446,332 |
|
||||||||||||
|
II. Long-Term Liabilities
|
4,595,337,813 |
13,727,067,264 |
25,269,520,449 |
|
||||||||||||
|
1. Long-term accounts payable to suppliers |
|
0 |
0 |
|
||||||||||||
|
2. Long-term inter-company payable |
|
0 |
0 |
|
||||||||||||
|
3. Other long-term payable |
1,943,936,113 |
3,769,341,911 |
931,249,931 |
|
||||||||||||
|
4. Long-term debts and loans |
2,651,401,700 |
9,659,401,700 |
24,084,901,700 |
|
||||||||||||
|
5. Deferred income tax payable |
|
0 |
0 |
|
||||||||||||
|
6. Provisions for unemployment allowances |
|
298,323,653 |
253,368,818 |
|
||||||||||||
|
7. Provisions for long-term accounts payable |
|
0 |
0 |
|
||||||||||||
|
8. Unearned Revenue |
|
0 |
0 |
|
||||||||||||
|
9. Science and technology development fund |
|
|
|
|
||||||||||||
|
B- OWNER’S
EQUITY |
570,720,292,173 |
575,417,890,783 |
546,491,883,970 |
|
||||||||||||
|
I. OWNER’S
EQUITY |
570,572,540,762 |
575,417,890,783 |
546,491,883,970 |
|
||||||||||||
|
1. Capital |
178,093,360,000 |
178,093,360,000 |
178,093,360,000 |
|
||||||||||||
|
2. Share premiums |
229,515,239,894 |
229,677,322,904 |
229,275,000,000 |
|
||||||||||||
|
3. Other sources of capital |
|
0 |
0 |
|
||||||||||||
|
4. Treasury stocks |
|
0 |
-15,737,386,415 |
|
||||||||||||
|
5. Differences on asset revaluation |
|
0 |
0 |
|
||||||||||||
|
6. Foreign exchange differences |
|
0 |
0 |
|
||||||||||||
|
7. Business promotion fund |
102,846,539,106 |
79,760,512,313 |
58,236,641,879 |
|
||||||||||||
|
8. Financial reserved fund |
17,809,336,000 |
17,809,336,000 |
14,225,821,980 |
|
||||||||||||
|
9. Other funds |
|
0 |
0 |
|
||||||||||||
|
10. Retained earnings |
42,308,065,762 |
70,077,359,566 |
82,398,446,526 |
|
||||||||||||
|
11. Construction investment fund |
|
|
|
|
||||||||||||
|
12. Business arrangement supporting fund |
|
|
|
|
||||||||||||
|
II. Other
sources and funds |
147,751,411 |
0 |
0 |
|
||||||||||||
|
1. Bonus and welfare funds (Elder form) |
|
0 |
0 |
|
||||||||||||
|
2. Sources of expenditure |
|
0 |
0 |
|
||||||||||||
|
3. Fund to form fixed assets |
147,751,411 |
|
|
|
||||||||||||
|
MINORITY’S
INTEREST |
783,078,696 |
0 |
0 |
|
||||||||||||
|
TOTAL
LIABILITIES AND OWNER’S EQUITY |
824,397,223,260 |
833,995,960,294 |
766,808,516,669 |
|
||||||||||||
|
|
|
|||||||||||||||
|
PROFIT
& LOSS STATEMENT |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Description |
FY2012 |
FY2011 |
FY2010 |
|
||||||||||||
|
1. Total Sales |
1,370,699,739,045
|
1,194,863,534,661
|
1,113,098,646,568
|
|
||||||||||||
|
2. Deduction item |
110,168,604,308 |
62,807,453,005 |
69,659,148,720 |
|
||||||||||||
|
3. Net revenue |
1,260,531,134,737
|
1,132,056,081,656
|
1,043,439,497,848
|
|
||||||||||||
|
4. Costs of goods sold |
868,891,180,129 |
758,395,976,929 |
728,277,573,025 |
|
||||||||||||
|
5. Gross profit |
391,639,954,608 |
373,660,104,727 |
315,161,924,823 |
|
||||||||||||
|
6. Financial income |
7,192,643,035 |
11,839,727,804 |
7,918,126,468 |
|
||||||||||||
|
7. Financial expenses |
13,422,396,684 |
20,347,353,591 |
20,038,179,147 |
|
||||||||||||
|
- In which: Loan interest expenses |
8,345,162,763 |
10,919,960,891 |
14,033,238,359 |
|
||||||||||||
|
8. Selling expenses |
140,208,226,155 |
142,604,011,690 |
98,653,855,931 |
|
||||||||||||
|
9. Administrative overheads |
129,478,049,322 |
104,688,283,471 |
91,096,086,944 |
|
||||||||||||
|
10. Net operating profit |
115,723,925,482 |
117,860,183,779 |
113,291,929,269 |
|
||||||||||||
|
11. Other income |
5,929,082,283 |
261,577,944 |
98,791,761 |
|
||||||||||||
|
12. Other expenses |
499,304,380 |
10,741,691 |
3,013,732 |
|
||||||||||||
|
13. Other profit /(loss) |
5,429,777,903 |
250,836,253 |
95,778,029 |
|
||||||||||||
|
14. Total accounting profit before tax |
121,153,703,385 |
118,111,020,032 |
113,387,707,298 |
|
||||||||||||
|
15. Current corporate income tax |
30,294,079,005 |
40,297,173,449 |
30,596,072,576 |
|
||||||||||||
|
16. Deferred corporate income tax |
501,814,681 |
-2,289,501,858 |
|
|
||||||||||||
|
17. Interest from subsidiaries/related companies |
|
|
|
|
||||||||||||
|
18. Profit after tax |
90,357,809,699 |
80,103,348,441 |
82,791,634,722 |
|
||||||||||||
|
|
|
|||||||||||||||
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Description |
FY2012 |
FY2011 |
FY2010 |
Average Industry |
|
|||||||||||
|
Current liquidity ratio |
2.09 |
2.06 |
2.24 |
1.65 |
|
|||||||||||
|
Quick liquidity ratio |
1.28 |
1.29 |
1.22 |
1.04 |
|
|||||||||||
|
Inventory circle |
4.49 |
3.91 |
3.65 |
4.14 |
|
|||||||||||
|
Average receive period |
78.33 |
77.69 |
64.76 |
105.37 |
|
|||||||||||
|
Utilizing asset performance |
1.53 |
1.36 |
1.36 |
1.20 |
|
|||||||||||
|
Liability by total assets |
30.68 |
31.00 |
28.73 |
53.11 |
|
|||||||||||
|
Liability by owner's equity |
44.31 |
44.94 |
40.31 |
159.74 |
|
|||||||||||
|
Ebit / Total assets (ROA) |
15.71 |
15.47 |
16.62 |
10.37 |
|
|||||||||||
|
Ebit / Owner's equity (ROE) |
22.69 |
22.42 |
23.32 |
23.03 |
|
|||||||||||
|
Ebit / Total revenue (NPM) |
9.45 |
10.80 |
11.45 |
10.15 |
|
|||||||||||
|
Gross profit / Total revenue (GPM) |
28.57 |
31.27 |
28.31 |
25.88 |
|
|||||||||||
|
Note: The Average Industry was calculated by VietnamCredit based on our own
statistical data |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
CASH
FLOW STATEMENT |
|
|||||||||||||||
|
(Direct method) |
|
|||||||||||||||
|
Items |
FY2012 |
|
||||||||||||||
|
1.Cash received from customers |
1,251,085,195,453 |
|
||||||||||||||
|
2. Cash paid to suppliers |
-892,196,767,097 |
|
||||||||||||||
|
3. Cash paid to employees |
-106,041,835,020 |
|
||||||||||||||
|
4. Interest paid |
-8,041,487,991 |
|
||||||||||||||
|
5. Income taxes paid |
-41,856,082,373 |
|
||||||||||||||
|
6. Other operating cash receipts |
122,298,401,795 |
|
||||||||||||||
|
7. Other operating payments |
-183,391,604,387 |
|
||||||||||||||
|
Net cash flows from operating activities |
141,855,820,380 |
|
||||||||||||||
|
1. Purchases and construction of fixed assets and other long-term
assets |
-31,385,810,254 |
|
||||||||||||||
|
2. Gains from disposals and liquidation of fixed assets and other
long-term assets |
1,352,959,224 |
|
||||||||||||||
|
3. Loans given and purchases of debt instruments of other entities |
|
|
||||||||||||||
|
4. Recovery of loans given and disposals of debt instruments of other
entities |
|
|
||||||||||||||
|
5. Investments into other entities |
|
|
||||||||||||||
|
6. Withdrawals of investments in other entities |
15,157,980,000 |
|
||||||||||||||
|
7. Receipts of loan interests, dividends and profit shared |
42,794,769 |
|
||||||||||||||
|
Net cash flows from investing activities |
-14,832,076,261 |
|
||||||||||||||
|
1. Gains from stock issuance and capital contributions from
shareholders |
|
|
||||||||||||||
|
2. Repayment for capital contributions and re-purchases of stocks
already issues |
|
|
||||||||||||||
|
3. Short-term and long-term loans received |
133,163,102,201 |
|
||||||||||||||
|
4. Loan principal amounts repaid |
-219,472,320,779 |
|
||||||||||||||
|
5. Payments for financial leasehold assets |
|
|
||||||||||||||
|
6. Dividends and profit already paid to the owners |
-65,891,873,300 |
|
||||||||||||||
|
Net cash flows from financing activities |
-152,201,091,878 |
|
||||||||||||||
|
Net cash flows during the year |
-25,177,347,759 |
|
||||||||||||||
|
Beginning cash and cash equivalents |
62,495,203,298 |
|
||||||||||||||
|
Effects of fluctuations in foreign exchange rates |
|
|
||||||||||||||
|
Ending cash and cash equivalents |
37,317,855,539 |
|
||||||||||||||
|
|
|
|||||||||||||||
|
CASH
FLOW STATEMENT |
|
|||||||||||||||
|
(Indirect method) |
|
|||||||||||||||
|
Items |
FY2011 |
FY2010 |
|
|||||||||||||
|
I. Cash flows
from operating activities |
|
|||||||||||||||
|
1. Profit before tax |
118,111,020,032 |
113,387,707,298 |
|
|||||||||||||
|
2. Adjustments |
|
|
|
|||||||||||||
|
- Depreciation and amortization |
24,224,320,017 |
21,457,920,320 |
|
|||||||||||||
|
- Provisions |
-2,945,515,199 |
|
|
|||||||||||||
|
- Unrealized foreign exchange difference |
531,943,515 |
953,605,181 |
|
|||||||||||||
|
- Gain/loss from investing activities |
-6,242,229,841 |
-2,167,927,771 |
|
|||||||||||||
|
- Interest expense |
10,919,960,891 |
14,033,238,359 |
|
|||||||||||||
|
3. Operating profit before movements in working
capital |
144,599,499,415 |
147,664,543,387 |
|
|||||||||||||
|
- (Increase)/Decrease in receivables |
-29,298,206,674 |
19,120,961,252 |
|
|||||||||||||
|
- (Increase)/Decrease in inventories |
11,337,677,987 |
-51,401,560,995 |
|
|||||||||||||
|
- Increase/(Decrease) in accounts payable |
28,655,513,471 |
-39,562,974,636 |
|
|||||||||||||
|
- (Increase)/Decrease in prepaid expenses |
3,008,124,617 |
5,542,961,921 |
|
|||||||||||||
|
- Interest paid |
-10,919,960,891 |
-14,033,238,359 |
|
|||||||||||||
|
- Corporate income tax paid |
-27,628,904,869 |
-38,876,280,357 |
|
|||||||||||||
|
- Other cash inflows |
3,102,529,000 |
|
|
|||||||||||||
|
- Other cash outflows |
-27,258,991,087 |
-15,867,866,140 |
|
|||||||||||||
|
Net cash from (used in) operating activities |
95,597,280,969 |
12,586,546,073 |
|
|||||||||||||
|
II. Cash flows
from investing activities |
|
|||||||||||||||
|
1. Acquisition of fixed assets and other long - term assets |
-68,987,944,702 |
-27,567,961,851 |
|
|||||||||||||
|
2. Proceeds from fixed assets and long - term assets disposal |
28,000,000 |
8,399,545 |
|
|||||||||||||
|
3. Cash outflow for lending, buying debt instruments of other
companies |
|
-1,540,500,000 |
|
|||||||||||||
|
4. Cash recovered from lending, selling debt instruments of other
companies |
27,373,098,500 |
417,020,000 |
|
|||||||||||||
|
5. Investment in other entities |
-4,000,000,000 |
-4,500,000,000 |
|
|||||||||||||
|
6. Cash recovered from investments in other entities |
4,090,331,341 |
1,963,788,226 |
|
|||||||||||||
|
7. Interest income, dividend and profit paid |
|
|
|
|||||||||||||
|
Net cash from (used in) investing activities |
-41,496,514,861 |
-31,219,254,080 |
|
|||||||||||||
|
III. Cash flows
from financing activities |
|
|||||||||||||||
|
1. Proceeds from issuing stocks, receiving capital from owners |
16,139,709,319 |
|
|
|||||||||||||
|
2. Capital withdrawal, buying back issued stocks |
188,086,121,971 |
233,176,197,892 |
|
|||||||||||||
|
3. Proceeds from borrowings |
-198,824,322,270 |
-178,469,155,891 |
|
|||||||||||||
|
4. Repayment of borrowings |
-38,507,741,800 |
-17,503,519,000 |
|
|||||||||||||
|
5. Repayment of obligations under finance leased |
|
|
|
|||||||||||||
|
6. Dividends paid |
|
|
|
|||||||||||||
|
Net cash from (used in) financing activities |
-33,106,232,780 |
37,203,523,001 |
|
|||||||||||||
|
Net increase/(decrease) in cash and cash equivalents |
20,994,533,328 |
18,570,814,994 |
|
|||||||||||||
|
Cash and cash equivalents at beginning of year |
41,392,630,785 |
22,821,815,791 |
|
|||||||||||||
|
Effect from changing foreign exchange rate |
1,253,710 |
|
|
|||||||||||||
|
Cash and cash equivalents at end of year |
62,388,417,823 |
41,392,630,785 |
|
|||||||||||||
|
|
||||||||||||||||
PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Trade Morality |
|
Fair |
|
|||||||||||||
|
Liquidity |
|
Medium/High |
|
|||||||||||||
|
Payment status |
|
Above Average |
|
|||||||||||||
|
Financial Situation |
|
Strong |
|
|||||||||||||
|
Development trend |
|
Positive |
|
|||||||||||||
|
Litigation data |
|
No Record |
|
|||||||||||||
|
Bankruptcy |
|
No Record |
|
|||||||||||||
|
Payment Methods |
|
L/C, T/T |
|
|||||||||||||
|
Sale Methods |
|
Retailer and Wholesaler |
|
|||||||||||||
|
Public opinion |
|
Good |
|
|||||||||||||
|
|
INTERPRETATION ON THE SCORES
|
|
|
|
DOMESCO
is short name of DOMESCO MEDICAL IMPORT EXPORT JOINT STOCK CORPORATION, which
was established in 1985 and equitized in 2003 under the license No. 144/QD.UB.TL,
issued by People’s Committee of Dong Thap Province. After many changes, the
subject is now operating with business registration No.1400460395 and the
chartered capital of VND 178,093,360,000. In the
end of 2006, the subject was listed on Ho Chi Minh Stock Exchange with the
stock symbol is DMC. It is specialized in manufacturing, trading, importing
and exporting medicines, medicinal materials for human, manufacturing,
trading, importing and exporting perfumes, cosmetic, shrimp cakes, foodstuffs,
natural drinking water, medicinal water, non-alcohol wine and spirits,
manufacturing, trading, importing and exporting seafood, animal feeds and
fish feeds. The products of the company are divided into three groups:
pharmaceutical products, medicinal products and nutrition products. The
company is a leading manufacturer of cardiovascular and endocrine drugs. The
company is ranked second among the pharmaceutical manufacturing companies in
Vietnam. The export value and foreign market are increased and widen year
after year. With good management capacity, clear developing strategies and
well trained employees, the company achieved good business result. Based
on the financial ratios in recent years, we see that, they are fairly good
and stable. The subject's liquidity indexes are relatively high. This
proves that, the subject's liquidity is good. The subject's debt rate is low,
from 2007 to 2011, it only ranged between 22% and 31%, this indicates that,
the subject's capital structure is very safe, self-financing and solvency are
good. Besides, ROA, ROE and profit ratios are high. Operational factors are
also acceptable. Its turnover and profit are increasing annually. In
general, the subject’s business operation is stable. It has capacity to meet
normal financial commitments. |
|
|
------------ APPENDIX ----------
INDUSTRY DATA
|
||||||
|
|
||||||
|
Industry code |
Growth speed by
price compared with 1994 (%) |
Total
enterprises 2010 |
Total employees
2011 (Thous.pers.) |
Annual average capital
of enterprises 2010 (billion dongs) |
||
|
2011 |
2010 |
|||||
|
Agriculture,
Forestry and Fishing |
4.00 |
2.78 |
8,887 |
24,362.9 |
95,227 |
|
|
Industry and
Construction |
5.53 |
7.70 |
95,217 |
10,718.9 |
3,641,376 |
|
|
Trade and
Services |
6.69 |
7.52 |
187,195 |
15,270.2 |
6,957,082 |
|
|
|
||||||
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.54.05 |
|
|
1 |
Rs.83.45 |
|
Euro |
1 |
Rs.72.53 |
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.