|
Report Date : |
29.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
CENTRAL PHARMACEUTICAL COMPANY N03 |
|
|
|
|
Registered Office : |
No.115 Ngo Gia Tu, Hai Chau District, Da Nang City |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Year of Establishment : |
1969 |
|
|
|
|
Com. Reg. No.: |
0400102077 |
|
|
|
|
Legal Form : |
State Single Limited Liability Company |
|
|
|
|
Line of Business : |
Trading in material and medicines products |
|
|
|
|
No. of Employees : |
150 employees |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
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 in the last 30 years has had to recover from the ravages of war, the loss of financial support from the old Soviet Bloc, and the rigidities of a centrally-planned economy. While Vietnam's economy remains dominated by state-owned enterprises, which still produce about 40% of GDP, Vietnamese authorities have reaffirmed their commitment to economic liberalization and international integration. They have moved to implement the structural reforms needed to modernize the economy and to produce more competitive export-driven industries. Vietnam joined the World Trade Organization in January 2007 following more than a decade-long negotiation process. Vietnam became an official negotiating partner in the developing Trans-Pacific Partnership trade agreement in 2010. Agriculture's share of economic output has continued to shrink from about 25% in 2000 to about 22% in 2011, while industry's share increased from 36% to 40% in the same period. Deep poverty has declined significantly, and Vietnam is working to create jobs to meet the challenge of a labor force that is growing by more than one million people every year. The global recession has hurt Vietnam's export-oriented economy, with GDP in 2009-11 growing less than the 7% per annum average achieved during the last decade. In 2011, exports increased by more than 33%, year-on-year, and the trade deficit, while reduced from 2010, remained high, prompting the government to maintain administrative trade measures to limit the trade deficit. Vietnam's managed currency, the dong, continues to face downward pressure due to a persistent trade imbalance. Since 2008, the government devalued it in excess of 20% through a series of small devaluations. Foreign donors pledged nearly $8 billion in new development assistance for 2011. However, the government's strong growth-oriented economic policies have caused it to struggle to control one of the region's highest inflation rates, which reached as high as 23% in August 2011 and averaged 18% for the year. In February 2011, Vietnam shifted its focus away from economic growth to stabilizing its economy and tightened fiscal and monetary policies. In early 2012 Vietnam unveiled a broad "three pillar" economic reform program, proposing the restructuring of public investment, state-owned enterprises and the banking sector. Vietnam's economy continues to face challenges from low foreign exchange reserves, an undercapitalized banking sector, and high borrowing costs. The near-bankruptcy and subsequent default of the state-owned-enterprise Vinashin, a leading shipbuilder, led to a ratings downgrade of Vietnam's sovereign debt, exacerbating Vietnam's borrowing difficulties.
|
Source : CIA |
Current
legal status
|
||
|
English Name |
|
CENTRAL PHARMACEUTICAL COMPANY N03 |
|
Vietnamese Name |
|
CONG TY TNHH MOT THANH VIEN DUOC TRUNG
UONG 3 |
|
Short name |
|
CENTERPHARCO |
|
Type of Business |
|
State single limited liability company |
|
Year Established |
|
1969 |
|
Establishment Decision |
|
392/BYT-QD |
|
Date of Issuance |
|
20 Mar 1993 |
|
Place of Issuance |
|
Ministry of health |
|
Business Registration No. |
|
0400102077 |
|
Date of Registration |
|
19 Oct 2010 |
|
Place of Registration |
|
Da Nang Department of Planning &
Investment |
|
Chartered capital |
|
VND 11,183,716,595 |
|
Status |
|
Unlisted |
|
Tax code |
|
0400102077 |
|
Total Employees |
|
150 |
Historical Identification
& Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got
former Business Registration No: 3206000193 Changed to: The
same tax code No. 0400102077 |
19 Oct 2010 |
|
2 |
Subject has got former
Type of Business: State owned company Changed to: State single limited
liability company |
19 Oct 2010 |
|
3 |
Subject has got
former Registered Vietnamese Name: CONG TY DUOC TW 3 Changed to: CONG TY TNHH
MOT THANH VIEN DUOC TW 3 |
19 Oct 2010 |
|
4 |
Subject has got
former Business Registration No: 104040 Changed to: No.
3206000193 |
18 Sep 2007 |
|
5 |
Subject has got
former Chartered capital: VND 16.226 billion Changed to: VND
11.183 billion |
N/A |
|
6 |
Subject has got former
Board Of Director: Director is Mr Pham Hung Thinh Changed to: Mr Nguyen Thanh
Linh |
N/A |
|
Head Office |
||
|
Address |
|
No.115 Ngo Gia Tu, Hai Chau District, Da
Nang City, Vietnam |
|
Telephone |
|
(84-511) 381 6687/ 389 7866/ 382 2745 |
|
Fax |
|
(84-511) 382 2767 |
|
Email |
|
|
|
|
||
|
Branch in Ha Noi |
||
|
Address |
|
No.95 Lang Ha, Dong Da District, Ha Noi
City, Vietnam |
|
Telephone |
|
(84-4) 3856 2365 / 35141881 |
|
Fax |
|
(84-4) 3856 2584 |
|
|
||
|
Branch in Ho Chi Minh |
||
|
Address |
|
No.284/7/1 Ly Thuong Kiet str, ward 14, 10
District, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 3868 5166/3868 7817/ 3868 5162 |
|
Fax |
|
(84-8) 3868 7435/ 3868 5166 |
|
Note: Opposite to this address is the subject's stock that is located at No.284/10, Ly Thuong Kiet Str, ward 14, 10 District, Ho Chi Minh City, Vietnam. The stock is also the former registered address of this branch |
||
|
1. PARENT
COMPANY - VIETNAM PHARMACEUTICAL CORPORATION |
||
|
Business Registration |
|
0106001031 |
|
Date of Registration |
|
16 Dec 2008 |
|
Place of Registration |
|
Ha Noi City Department of Planning and Investment |
|
Chartered Capital |
|
VND 1,338,544,248,430 |
|
Tax code |
|
0100109385 |
|
Address |
|
No.138B Giang Vo
Str, Ba Dinh District, Ha Noi City, Vietnam |
|
Tel |
|
(84-4) 3844 3153/
3844 3151 |
|
Fax |
|
(84-4) 3844 3665
|
|
Website |
|
|
|
1. NAME |
|
Mr. NGUYEN THANH LINH |
|
Position |
|
Chairman cum Director |
|
Date of Birth |
|
25 Jul 1964 |
|
ID Number/Passport |
|
200259887 |
|
ID Issue Date |
|
01 Jul 1997 |
|
ID Issue Place |
|
Department Of Public
Security Of Da Nang City |
|
Resident |
|
No 29 Hai Phong St - Thach
Thang Ward, Hai Chau District, Da Nang City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Qualification |
|
Pharmacist |
|
|
||
|
2. NAME |
|
Mr. LE DUC LOI |
|
Position |
|
Business Manager |
|
Date of Birth |
|
1964 |
|
Nationality |
|
Vietnamese |
|
|
||
|
3. NAME |
|
Ms. PHAM THI OANH |
|
Position |
|
Vice Director |
|
Resident |
|
No.80/2 Tran Phu, Hai
Chau District, Da Nang City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Qualification |
|
Pharmacist |
|
|
||
|
4. NAME |
|
Mr. TRUONG THOAI NHAN |
|
Position |
|
Chief Accountant |
|
Nationality |
|
Vietnamese |
|
Tel |
|
(84-511) 3822745 |
|
Mobile phone |
|
+ 84 905 565 455 |
|
|
||
|
5. NAME |
|
Mr. TRUONG VAN VIET |
|
Position |
|
Administration Manager |
|
Nationality |
|
Vietnamese |
The
subject registered in the following lines of business:
• Trading in material and medicines products
• Trading in oriental medicines, medical equipment
• Manufacturing some kinds of simple medicines
• Trading in vaccine, biology finished products
|
IMPORT: |
||
|
Market |
|
The Subject imported medicines, medical equipment and material for pharmaceutical
industry from Europe, USA, Korea, India, Taiwan, etc. |
|
Mode of payment |
|
TT/ L/C |
|
|
||
|
EXPORT: |
||
|
Market |
|
The Subject mainly exports oriental medicines to Czech Public, Russia,
Turkey. |
|
Mode of payment |
|
TT/ L/C |
|
Ratio |
|
Very Little |
|
1. VIETNAM BANK FOR AGRICULTURAL AND RURAL
DEVELOPMENT DA NANG CITY BRANCH |
||
|
Address |
|
No. 23 Phan Dinh Phung Str, Hai Chau District, Da Nang City, Vietnam |
|
Telephone |
|
(84-511) 382 1166 |
|
Fax |
|
(84-511) 382 3495 |
|
|
||
|
2. VIET NAM JOINT STOCK COMMERCIAL BANK
FOR INDUSTRY AND TRADE DA NANG BRANCH |
||
|
Address |
|
No.172 Nguyen Van Linh, Thanh Khe District, Da Nang City, Vietnam |
|
Telephone |
|
(84-511) 2691345 |
|
|
||
|
3. JOINT STOCK COMMERCIAL BANK FOR FOREIGN
TRADE OF VIETNAM DA NANG BRANCH |
||
|
Address |
|
No. 140 – 142 Le Loi Str, Hai Chau District, Da Nang City, Vietnam |
|
Telephone |
|
(84-511) 3822110 |
|
Fax |
|
(84-511) 3826062 |
|
1. NAME |
|
VIETNAM PHARMACEUTICAL CORPORATION |
|
Business Registration |
|
0106001031 |
|
Date of Registration |
|
16 Dec 2008 |
|
Place of Registration |
|
Ha Noi City Department of Planning and Investment |
|
Chartered Capital |
|
VND 1,338,544,248,430 |
|
Tax code |
|
0100109385 |
|
Address |
|
No.138B Giang Vo Str, Ba Dinh District, Ha Noi City, Vietnam |
|
Tel |
|
(84-4) 3844 3153/ 3844 3151 |
|
Fax |
|
(84-4) 3844 3665 |
|
Email |
|
vinapharm@hn.vnn.vn |
|
Website |
|
http://www.vinapharm.net.vn |
|
Value of shares |
|
VND 11,183,716,595 |
|
Percentage |
|
100% |
|
BALANCE SHEET |
|||
Unit: One VND
|
|||
|
Balance sheet date |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
Number of weeks |
52 |
52 |
52 |
|
Audit status |
Unaudited |
Unknown |
Unknown |
|
ASSETS |
|||
|
A – CURRENT ASSETS |
126,135,000,000 |
74,802,000,000 |
81,622,475,599 |
|
I. Cash and cash equivalents |
11,034,000,000 |
7,285,000,000 |
3,547,538,553 |
|
1. Cash |
11,034,000,000 |
7,285,000,000 |
3,547,538,553 |
|
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 |
63,994,000,000 |
40,097,000,000 |
50,797,118,503 |
|
1. Receivable from customers |
53,304,000,000 |
35,567,000,000 |
43,144,985,010 |
|
2. Prepayments to suppliers |
8,112,000,000 |
1,896,000,000 |
3,253,969,906 |
|
3. Inter-company receivable |
0 |
0 |
300,544,979 |
|
4. Receivable according to the progress of construction |
0 |
0 |
0 |
|
5. Other receivable |
2,578,000,000 |
2,634,000,000 |
4,097,618,608 |
|
6. Provisions for bad debts |
0 |
0 |
0 |
|
IV. Inventories |
50,103,000,000 |
26,232,000,000 |
26,503,087,538 |
|
1. Inventories |
50,103,000,000 |
26,232,000,000 |
26,503,087,538 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
0 |
|
V. Other Current Assets |
1,004,000,000 |
1,188,000,000 |
774,731,005 |
|
1. Short-term prepaid expenses |
51,000,000 |
0 |
0 |
|
2. VAT to be deducted |
408,000,000 |
423,000,000 |
526,837,549 |
|
3. Taxes and other accounts receivable from the State |
0 |
0 |
0 |
|
4. Other current assets |
545,000,000 |
765,000,000 |
247,893,456 |
|
B. LONG-TERM ASSETS |
13,502,000,000 |
14,555,000,000 |
15,749,557,467 |
|
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 |
13,458,000,000 |
14,463,000,000 |
15,707,719,863 |
|
1. Tangible assets |
13,458,000,000 |
14,463,000,000 |
15,707,719,863 |
|
- Historical costs |
21,948,000,000 |
21,376,000,000 |
21,427,941,985 |
|
- Accumulated depreciation |
-8,490,000,000 |
-6,913,000,000 |
-5,720,222,122 |
|
2. Financial leasehold assets |
0 |
0 |
0 |
|
- Historical costs |
0 |
0 |
0 |
|
- Accumulated depreciation |
0 |
0 |
0 |
|
3. Intangible assets |
0 |
0 |
0 |
|
- Initial costs |
0 |
0 |
0 |
|
- Accumulated amortization |
0 |
0 |
0 |
|
4. Construction-in-progress |
0 |
0 |
0 |
|
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 |
44,000,000 |
92,000,000 |
41,837,604 |
|
1. Long-term prepaid expenses |
44,000,000 |
92,000,000 |
41,837,604 |
|
2. Deferred income tax assets |
0 |
0 |
0 |
|
3. Other long-term assets |
0 |
0 |
0 |
|
VI. Goodwill |
0 |
0 |
0 |
|
1. Goodwill |
0 |
0 |
0 |
|
TOTAL ASSETS |
139,637,000,000 |
89,357,000,000 |
97,372,033,066 |
|
|
|||
|
LIABILITIES |
|||
|
A- LIABILITIES |
121,115,000,000 |
71,843,000,000 |
79,375,552,040 |
|
I. Current liabilities |
107,692,000,000 |
71,248,000,000 |
78,266,269,540 |
|
1. Short-term debts and loans |
26,864,000,000 |
27,215,000,000 |
25,900,167,706 |
|
2. Payable to suppliers |
73,534,000,000 |
36,243,000,000 |
39,421,380,830 |
|
3. Advances from customers |
5,609,000,000 |
6,575,000,000 |
5,626,130,646 |
|
4. Taxes and other obligations to the State Budget |
452,000,000 |
731,000,000 |
1,011,023,182 |
|
5. Payable to employees |
621,000,000 |
318,000,000 |
366,461,080 |
|
6. Accrued expenses |
0 |
0 |
0 |
|
7. Inter-company payable |
0 |
0 |
300,544,979 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
0 |
|
9. Other payable |
612,000,000 |
166,000,000 |
5,640,561,117 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
0 |
|
11. Bonus and welfare funds |
|
|
|
|
II. Long-Term Liabilities |
13,423,000,000 |
595,000,000 |
1,109,282,500 |
|
1. Long-term accounts payable to suppliers |
0 |
0 |
0 |
|
2. Long-term inter-company payable |
10,000,000,000 |
0 |
0 |
|
3. Other long-term payable |
0 |
0 |
0 |
|
4. Long-term debts and loans |
233,000,000 |
559,000,000 |
1,109,282,500 |
|
5. Deferred income tax payable |
0 |
0 |
0 |
|
6. Provisions for unemployment allowances |
36,000,000 |
36,000,000 |
0 |
|
7. Provisions for long-term accounts payable |
0 |
0 |
0 |
|
8. Unearned Revenue |
|
|
|
|
9. Science and technology development fund |
|
|
|
|
B- OWNER’S EQUITY |
18,522,000,000 |
17,514,000,000 |
17,996,481,026 |
|
I. OWNER’S EQUITY |
18,031,000,000 |
17,106,000,000 |
17,521,627,289 |
|
1. Capital |
16,804,000,000 |
16,804,000,000 |
16,804,458,096 |
|
2. Share premiums |
0 |
0 |
0 |
|
3. Other sources of capital |
0 |
0 |
0 |
|
4. Treasury stocks |
0 |
0 |
0 |
|
5. Differences on asset revaluation |
0 |
0 |
0 |
|
6. Foreign exchange differences |
0 |
-227,000,000 |
0 |
|
7. Business promotion fund |
0 |
0 |
0 |
|
8. Financial reserved fund |
0 |
0 |
0 |
|
9. Other funds |
0 |
0 |
0 |
|
10. Retained earnings |
1,227,000,000 |
529,000,000 |
717,169,193 |
|
11. Construction investment fund |
0 |
0 |
0 |
|
12. Business arrangement supporting fund |
|
|
|
|
II. Other sources and funds |
491,000,000 |
408,000,000 |
474,853,737 |
|
1. Bonus and welfare funds (Elder form) |
491,000,000 |
408,000,000 |
474,853,737 |
|
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 |
139,637,000,000 |
89,357,000,000 |
97,372,033,066 |
|
PROFIT &
LOSS STATEMENT |
|||
|
Description |
FY2011 |
FY2010 |
FY2009 |
|
1. Total Sales |
436,910,000,000 |
329,877,000,000 |
203,353,133,321 |
|
2. Deduction item |
5,255,000,000 |
2,810,000,000 |
815,526,507 |
|
3. Net revenue |
431,655,000,000 |
327,067,000,000 |
202,537,606,814 |
|
4. Costs of goods sold |
403,423,000,000 |
305,940,000,000 |
187,471,012,907 |
|
5. Gross profit |
28,232,000,000 |
21,127,000,000 |
15,066,593,907 |
|
6. Financial income |
351,000,000 |
470,000,000 |
126,477,519 |
|
7. Financial expenses |
4,885,000,000 |
6,385,000,000 |
4,324,776,286 |
|
- In which: Loan interest expenses |
2,656,000,000 |
2,834,000,000 |
0 |
|
8. Selling expenses |
13,452,000,000 |
8,683,000,000 |
6,176,499,371 |
|
9. Administrative overheads |
8,137,000,000 |
6,021,000,000 |
4,382,254,687 |
|
10. Net operating profit |
2,109,000,000 |
508,000,000 |
309,541,082 |
|
11. Other income |
25,000,000 |
21,000,000 |
79,891,950 |
|
12. Other expenses |
1,035,000,000 |
0 |
0 |
|
13. Other profit /(loss) |
-1,010,000,000 |
21,000,000 |
79,891,950 |
|
14. Total accounting profit before tax |
1,099,000,000 |
529,000,000 |
389,433,032 |
|
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 |
1,099,000,000 |
529,000,000 |
389,433,032 |
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||||
|
|
||||
|
Description |
FY2011 |
FY2010 |
FY2009 |
Average Industry |
|
Current liquidity ratio |
1.17 |
1.05 |
1.04 |
1.65 |
|
Quick liquidity ratio |
0.71 |
0.68 |
0.70 |
1.04 |
|
Inventory circle |
8.05 |
11.66 |
7.07 |
4.14 |
|
Average receive period |
54.11 |
44.75 |
91.54 |
105.37 |
|
Utilizing asset performance |
3.09 |
3.66 |
2.08 |
1.20 |
|
Liability by total assets |
86.74 |
80.40 |
81.52 |
53.11 |
|
Liability by owner's equity |
653.90 |
410.20 |
441.06 |
159.74 |
|
Ebit / Total assets (ROA) |
2.69 |
3.76 |
0.40 |
10.37 |
|
Ebit / Owner's equity (ROE) |
20.27 |
19.20 |
2.16 |
23.03 |
|
Ebit / Total revenue (NPM) |
0.86 |
1.02 |
0.19 |
10.15 |
|
Gross profit / Total revenue (GPM) |
6.46 |
6.40 |
7.41 |
25.88 |
|
Note: The Average Industry was calculated by
VietnamCredit based on our own statistical data |
||||
|
CASH FLOW
STATEMENT |
||
|
(Direct method) |
||
|
Items |
FY2011 |
FY2010 |
|
I. Cash flows from operating activities |
||
|
1.Cash received from customers |
580,443,000,000 |
506,102,000,000 |
|
2. Cash paid to suppliers |
-559,248,000,000 |
-477,687,000,000 |
|
3. Cash paid to employees |
-9,826,000,000 |
-7,543,000,000 |
|
4. Interest paid |
-4,139,000,000 |
-3,615,000,000 |
|
5. Income taxes paid |
0 |
|
|
6. Other operating cash receipts |
14,008,000,000 |
1,186,000,000 |
|
7. Other operating payments |
-16,526,000,000 |
-15,421,000,000 |
|
Net cash flows from operating activities |
4,712,000,000 |
3,022,000,000 |
|
II. Cash flows from investing activities |
||
|
1. Purchases and construction of fixed assets and other long-term
assets |
-25,000,000 |
-73,000,000 |
|
2. Gains from disposals and liquidation of fixed assets and other
long-term assets |
0 |
0 |
|
3. Loans given and purchases of debt instruments of other entities |
0 |
0 |
|
4. Recovery of loans given and disposals of debt instruments of other
entities |
0 |
0 |
|
5. Investments into other entities |
0 |
0 |
|
6. Withdrawals of investments in other entities |
0 |
0 |
|
7. Receipts of loan interests, dividends and profit shared |
138,000,000 |
104,000,000 |
|
Net cash flows from investing activities |
113,000,000 |
31,000,000 |
|
III. Cash flows from financing activities |
||
|
1. Gains from stock issuance and capital contributions from
shareholders |
0 |
0 |
|
2. Repayment for capital contributions and re-purchases of stocks
already issues |
0 |
0 |
|
3. Short-term and long-term loans received |
73,248,000,000 |
76,588,000,000 |
|
4. Loan principal amounts repaid |
-74,322,000,000 |
-75,761,000,000 |
|
5. Payments for financial leasehold assets |
0 |
0 |
|
6. Dividends and profit already paid to the owners |
0 |
-142,000,000 |
|
Net cash flows from financing activities |
-1,074,000,000 |
685,000,000 |
|
Net cash flows during the year |
3,751,000,000 |
3,738,000,000 |
|
Beginning cash and cash equivalents |
7,285,000,000 |
3,547,000,000 |
|
Effects of fluctuations in foreign exchange rates |
-2,000,000 |
0 |
|
Ending cash and cash equivalents |
11,034,000,000 |
7,285,000,000 |
|
Trade Morality |
|
Fair |
|
Liquidity |
|
Medium |
|
Payment status |
|
Average |
|
Financial Situation |
|
Average |
|
Development trend |
|
Stable |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
L/C |
|
Sale Methods |
|
Retailer and Wholesaler |
|
Public opinion |
|
Well-known |
|
The subject has a long time in
operation and development, which was originally found 1969 as a small factory
to serve for Vietnamese people to fight against invader. It was
re-established in 1976. In 1993, under the decision to set up corporation,
the subject became member of Vietnam Pharmaceutical Corporation. Its
operation is under the management of parent company, which is very large with
many subsidiaries located in most provinces of Vietnam. Nowadays, the company operation
under business registration No 0400102077 with Chartered Capital is VND
11.183 billion. The products of the subject are about 40 kinds of common
medicines such as Medicated Oil, Balm, Berberin, etc. The main business line
to make profit is importing and trading in pharmaceutical for the local
market. It also takes part in manufacturing with the small factory in Da Nang
city. In addition, the subject is state owned companies, which is responsible
for price stabilization of medicine in case of hard fluctuation of prices and
to prepare medicine for prevention of the spread of epidemics when disasters
happen. The subject has met three pharmaceutical standards, including GMP,
GSP and GLP. The management capacity is normal. It will be more developed if
the subject improves its management capability. According to financial data, its
capital structure is not safe. Financial leverage ratio is high in comparison
with average industry, together with liquidity ratio is low. Besides,
although its turnover was improved year after year, profitability is still
limited. Total revenue in 2011 was VND 436.9 billion, increasing VND 107
billion compared with 2007. But profit after tax was little improvement. The
main reasons were the high of cost of goods sold and financial expenses. In short, the subject is a State owned
company, so it receives much support, relying on that it has ability to
adverse changes in circumstances and economic conditions. No caution needed
for small business transactions. |
|
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.53.89 |
|
UK Pound |
1 |
Rs.84.92 |
|
Euro |
1 |
Rs.72.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
NLM |
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.