|
Report Date : |
24.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
TRUONG THO PHARMACEUTICAL JOINT STOCK
COMPANY |
|
|
|
|
Formerly Known As : |
TRUONG THO PHARMA COMPANY LIMITED |
|
|
|
|
Registered Office : |
No 93 Linh Lang Str, Cong Vi ward, Ba Dinh District, Ha Noi City |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Year of Establishments: |
2000 |
|
|
|
|
Com. Reg. No.: |
0100976733 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and trading in pharmaceutical products and raw material for
pharmaceutical industry |
|
|
|
|
No. of Employees : |
300 |
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 policy away from policies aimed at achieving a
high rate of economic growth, which had stoked inflation, to those aimed at
stabilizing the economy, through tighter monetary and fiscal control. Although
Vietnam unveiled a broad, "three pillar" economic reform program in
early 2012, proposing the restructuring of public investment, state-owned
enterprises, and the banking sector, little perceptible progress had been made
by early 2013. Vietnam's economy continues to face challenges from an
undercapitalized banking sector. Non-performing loans weigh heavily on banks
and businesses. In September 2012, the official bad debt ratio climbed to 8.8%,
though some independent analysts believe it could be higher than 15%.
|
Source : CIA |
SUBJECT IDENTIFICATION &
LEGAL FORM
|
||
|
|
||
Current legal status
|
||
|
Registered English Name |
|
TRUONG THO PHARMACEUTICAL JOINT STOCK
COMPANY |
|
Registered Vietnamese Name |
|
CONG TY CO PHAN DUOC PHAM TRUONG THO |
|
Registered Short name |
|
TRUONG THO PHARMA., JSC |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
2000 |
|
Business Registration No. |
|
0100976733 |
|
Date of Registration |
|
13 Dec 2012 |
|
Place of Registration |
|
Department of Planning and Investment of
Ha Noi city |
|
Chartered capital |
|
VND 10,000,000,000 |
|
Status |
|
Unlisted |
|
Tax code |
|
0100976733 |
|
Total Employees |
|
300 |
Historical
Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Business Registration
No: 0103013520 dated on 15 Aug 2006 Changed to: 0100976733 |
13
Dec 2012 |
|
2 |
Subject has got former Trade Name: T.T
PHARMA CO.,LTD Changed to: TRUONG THO PHARMA., JSC |
15
Aug 2006 |
|
3 |
Subject has got former Business Registration
No: 0102000011 (Issuance on 30 Jan 2000) Changed to: No. 0103013520 |
15
Aug 2006 |
|
4 |
Subject has got former Registered English
Name: TRUONG THO PHARMA COMPANY LIMITED Changed to: TRUONG THO PHARMACEUTICAL
JOINT STOCK COMPANY |
15 Aug
2006 |
|
5 |
Subject has got former Registered
Vietnamese Name: CONG TY TNHH DUOC PHAM TRUONG THO Changed to: CONG TY CO PHAN DUOC PHAM
TRUONG THO |
15
Aug 2006 |
|
6 |
Subject has got former Type of Business:
Liability Limited Company Changed to: Joint Stock Company |
15
Aug 2006 |
|
7 |
Subject has got former Address: No 15,
Bich Cau Str, Quoc Tu Giam ward, Dong Da Dist, Ha Noi city Changed to: No 93, Linh Lang Str, Ba Dinh
Dist, Ha Noi city |
N/A |
company ADDRESSES
|
||
|
|
||
|
Head Office |
||
|
Address |
|
No 93 Linh Lang Str, Cong Vi ward, Ba Dinh
District, Ha Noi City, Vietnam |
|
Telephone |
|
(84-4) 37666912 / 3766 6913 |
|
Fax |
|
(84-4) 37666914 |
|
Email |
|
|
|
Website |
|
|
|
Note: The exact address of the subject is as
above. |
||
|
|
||
|
Factory Address |
||
|
Address |
|
Lot M1, N3 Str., Hoa Xa Industrial Zone,
Nam Dinh City, Nam Dinh Province, Vietnam |
|
Telephone |
|
(84-350) 3670733 |
|
|
||
|
Sales and
Marketing Office Address |
||
|
Address |
|
No 352, Giai Phong St., Phuong Liet Ward, Thanh
Xuan District, Ha Noi City, Vietnam |
|
Telephone |
|
(84-4) 36658212/09 |
|
Fax |
|
(84-4) 36658210 |
|
|
||
|
Truong Tho
Drugstore |
||
|
Address |
|
No. 48 Hai Ba Trung Str., Trang Tien Ward,
Hoan Kiem District, Ha Noi City, Vietnam |
|
|
||
|
Truong Tho
Drugstore |
||
|
Address |
|
No.168 Ngoc Khanh St., Giang Vo Ward, Ba
Dinh District, Ha Noi City, Vietnam |
|
|
||
|
Branch in Cao
Bang |
||
|
Address |
|
No.102, Be Van Dan St., Hop Giang Ward,
Cao Bang Town, Cao Bang Province, Vietnam |
|
|
||
|
Branch in Thanh
Hoa |
||
|
Address |
|
No. 93, Quang Trung St., Thanh Hoa City,
Thanh Hoa Province, Vietnam |
|
Telephone |
|
(84-37) 3727292 |
|
Fax |
|
(84-37) 3951696 |
|
|
||
DIRECTORS
|
||
|
|
||
|
1.
NAME |
|
Mr.
NGUYEN VAN HUNG |
|
Position |
|
General Director |
|
Date of Birth |
|
30 Mar 1962 |
|
ID Number/Passport |
|
012711878 |
|
ID Issue Date |
|
18 Aug 2004 |
|
ID Issue Place |
|
Police Station of Ha
Noi city |
|
Resident |
|
Room 302B-D4, Group
80, Dich Vong Ward, Cau Giay District, Ha Noi City, Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
2.
NAME |
|
Mr.
PHAM TUAN HUNG |
|
Position |
|
Deputy General Director |
|
ID Number/Passport |
|
011685241 |
|
Resident |
|
No 107, Giai Phong
St., Dong Tam Ward, Hai Ba Trung District, Ha Noi City, Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
BUSINESS NATURE AND ACTIVITIES
|
|
|
|
The subject operates in the following business
activities: |
|
|
IMPORT & EXPORT ACTIVITIES
|
||
|
|
||
|
IMPORT: |
||
|
·
Types of products |
|
Material and machine |
|
·
Market |
|
China, India, France, Germany, Singapore, Korea… |
|
|
||
|
EXPORT: |
||
|
·
Types of products |
|
Pharmaceutical products |
|
·
Market |
|
Laos, Myanmar, and Cambodia |
|
·
Ratio |
|
Very little |
|
|
||
BANKERS
|
||
|
|
||
|
1.
JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM BA DINH BRANCH |
||
|
Address |
|
HANDI RESCO Building - No. 521 Kim Ma Str - Ngoc Khanh Ward, Ba Dinh
District, Ha Noi City, Vietnam |
|
Telephone |
|
(84-4) 37665311 - 37665312 |
|
Fax |
|
(84-4) 37665313 |
|
|
||
|
2.
SAIGON THUONG TIN COMMERCIAL JOINT STOCK BANK HA NOI BRANCH |
||
|
Address |
|
No.65 Ngo Thi Nham, Hai Ba Trung District, Ha Noi City, Vietnam |
|
Telephone |
|
(84-4) 39436007 |
|
Fax |
|
(84-4) 39432988 |
|
|
||
|
3.
VIETNAM TECHNOLOGICAL AND COMMERCIAL JOINT STOCK BANK BA DINH BRANCH |
||
|
Address |
|
No.132- 138 Kim Ma str, Ba Dinh District, Ha Noi City, Vietnam |
|
Telephone |
|
(84-4) 3734 3233 |
|
Fax |
|
(84-4) 3734 3238 |
|
|
||
|
4.
ASIA COMMERCIAL BANK HA NOI BRANCH |
||
|
Address |
|
No.184-186 Ba Trieu, Hai Ba Trung District, Ha Noi City, Vietnam |
|
Telephone |
|
(84-4) 3943 3508 |
|
Fax |
|
(84-4) 3943 9283 |
|
|
||
SHAREHOLDERS
|
||
|
|
||
|
1.
NAME |
|
Mr.
NGUYEN KE SEU |
|
ID Number/Passport |
|
011898027 |
|
Resident |
|
Station 47C, Group 18C, Khuong Mai Ward,
Thanh Xuan District, Ha Noi City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
3,000 |
|
Value of shares |
|
VND 30,000,000 |
|
|
||
|
2.
NAME |
|
Mr.
LE TUAN MINH |
|
ID Number/Passport |
|
164001148 |
|
Resident |
|
No. 613 Truong Trinh Str., Ha Long Ward,
Nam Dinh City, Nam Dinh Province, Vietnam |
|
Nationality |
|
Vietnamese |
|
Note: His share is
transferred |
||
|
|
||
|
3.
NAME |
|
Mr.
TRAN QUOC LOI |
|
ID Number/Passport |
|
012400402 |
|
Resident |
|
No. 101, Alley 714, Giai Phong Str., Giap
Bat Ward, Hoang Mai District, Ha Noi City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
10,500 |
|
Value of shares |
|
VND 105,000,000 |
|
|
||
|
4.
NAME |
|
Mr.
TRINH VAN VINH |
|
ID Number/Passport |
|
090602496 |
|
Resident |
|
Group 6, Road 3, Phan Dinh Phung Ward,
Thai Nguyen City, Thai Nguyen Province, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
12,000 |
|
Value of shares |
|
VND 120,000,000 |
|
|
||
|
5.
NAME |
|
Mr.
PHAM TUAN HUNG |
|
Position |
|
Deputy General Director |
|
ID Number/Passport |
|
011685241 |
|
Resident |
|
No 107, Giai Phong St., Dong Tam Ward, Hai
Ba Trung District, Ha Noi City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
400,000 |
|
Value of shares |
|
VND 4,000,000,000 |
|
|
||
|
6.
NAME |
|
Mr.
NGUYEN VAN HUNG |
|
Position |
|
General Director |
|
Date of Birth |
|
30 Mar 1962 |
|
ID Number/Passport |
|
012711878 |
|
Issued on |
|
18 Aug 2004 |
|
Issued Place |
|
Police Station of Ha Noi city |
|
Resident |
|
Room 302B-D4, Group 80, Dich Vong Ward,
Cau Giay District, Ha Noi City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
450,000 |
|
Value of shares |
|
VND 4,500,000,000 |
|
|
||
FINANCIAL DATA
|
||
|
|
||
|
BALANCE
SHEET |
||
Unit: One VND
|
||
|
Balance sheet
date |
31/12/2011 |
31/12/2010 |
|
Number of weeks |
52 |
52 |
|
Audit status |
Unknown |
Unknown |
|
ASSETS |
||
|
A – CURRENT
ASSETS |
63,014,000,000
|
46,059,947,290
|
|
I. Cash and cash
equivalents |
5,946,000,000
|
3,778,361,996
|
|
1. Cash |
5,946,000,000 |
3,778,361,996 |
|
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 |
19,475,000,000
|
17,551,371,937
|
|
1. Receivable from customers |
18,879,000,000 |
17,410,525,537 |
|
2. Prepayments to suppliers |
0 |
0 |
|
3. Inter-company receivable |
0 |
0 |
|
4. Receivable according to the progress of construction |
0 |
0 |
|
5. Other receivable |
741,000,000 |
285,846,400 |
|
6. Provisions for bad debts |
-145,000,000 |
-145,000,000 |
|
IV. Inventories |
36,818,000,000
|
22,803,794,515
|
|
1. Inventories |
36,818,000,000 |
22,803,794,515 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
|
V. Other Current
Assets |
775,000,000
|
1,926,418,842
|
|
1. Short-term prepaid expenses |
337,000,000 |
831,296,703 |
|
2. VAT to be deducted |
0 |
239,860,499 |
|
3. Taxes and other accounts receivable from the State |
0 |
0 |
|
4. Other current assets |
438,000,000 |
855,261,640 |
|
B. LONG-TERM
ASSETS |
45,576,000,000
|
58,122,260,997
|
|
I. Long term
accounts receivable |
0 |
0 |
|
1. Long term account receivable from customers |
0 |
0 |
|
2. Working capital in affiliates |
0 |
0 |
|
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
|
45,423,000,000
|
57,084,735,209
|
|
1. Tangible assets |
40,551,000,000 |
47,954,544,396 |
|
- Historical costs |
66,949,000,000 |
63,271,532,141 |
|
- Accumulated depreciation |
-26,398,000,000 |
-15,316,987,745 |
|
2. Financial leasehold assets |
0 |
0 |
|
- Historical costs |
0 |
0 |
|
- Accumulated depreciation |
0 |
0 |
|
3. Intangible assets |
2,254,000,000 |
2,254,238,878 |
|
- Initial costs |
2,723,000,000 |
2,723,471,688 |
|
- Accumulated amortization |
-469,000,000 |
-469,232,810 |
|
4. Construction-in-progress |
2,618,000,000 |
6,875,951,935 |
|
III. Investment
property |
0 |
0 |
|
Historical costs |
0 |
0 |
|
Accumulated depreciation |
0 |
0 |
|
IV. Long-term investments
|
0 |
0 |
|
1. Investments in affiliates |
0 |
0 |
|
2. Investments in business concerns and joint ventures |
0 |
0 |
|
3. Other long-term investments |
0 |
0 |
|
4. Provisions for devaluation of long-term investments |
0 |
0 |
|
V. Other
long-term assets |
153,000,000
|
1,037,525,788
|
|
1. Long-term prepaid expenses |
153,000,000 |
1,037,525,788 |
|
2. Deferred income tax assets |
0 |
0 |
|
3. Other long-term assets |
0 |
0 |
|
VI. Goodwill |
0 |
0 |
|
1. Goodwill |
0 |
0 |
|
TOTAL ASSETS |
108,590,000,000
|
104,182,208,287
|
|
|
||
|
LIABILITIES |
||
|
A- LIABILITIES |
81,078,000,000
|
79,950,144,769
|
|
I. Current
liabilities |
53,417,000,000
|
44,510,030,876
|
|
1. Short-term debts and loans |
38,980,000,000 |
31,845,593,525 |
|
2. Payable to suppliers |
10,933,000,000 |
11,669,400,371 |
|
3. Advances from customers |
762,000,000 |
0 |
|
4. Taxes and other obligations to the State Budget |
543,000,000 |
0 |
|
5. Payable to employees |
0 |
485,750,000 |
|
6. Accrued expenses |
0 |
0 |
|
7. Inter-company payable |
0 |
0 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
|
9. Other payable |
2,199,000,000 |
509,286,980 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
|
II. Long-Term
Liabilities |
27,661,000,000
|
35,440,113,893
|
|
1. Long-term accounts payable to suppliers |
0 |
0 |
|
2. Long-term inter-company payable |
0 |
0 |
|
3. Other long-term payable |
0 |
0 |
|
4. Long-term debts and loans |
27,485,000,000 |
35,304,413,893 |
|
5. Deferred income tax payable |
0 |
0 |
|
6. Provisions for unemployment allowances |
176,000,000 |
135,700,000 |
|
7. Provisions for long-term accounts payable |
0 |
0 |
|
8. Unearned Sale |
0 |
0 |
|
9. Science and technology development fund |
0 |
0 |
|
B- OWNER’S
EQUITY |
27,512,000,000
|
24,232,063,518
|
|
I. OWNER’S
EQUITY |
27,399,000,000
|
24,105,330,018
|
|
1. Capital |
10,000,000,000 |
10,000,000,000 |
|
2. Share premiums |
0 |
0 |
|
3. Other sources of capital |
1,024,000,000 |
1,023,940,227 |
|
4. Treasury stocks |
0 |
0 |
|
5. Differences on asset revaluation |
0 |
0 |
|
6. Foreign exchange differences |
0 |
0 |
|
7. Business promotion fund |
2,565,000,000 |
2,565,000,000 |
|
8. Financial reserved fund |
2,015,000,000 |
2,014,600,000 |
|
9. Other funds |
0 |
0 |
|
10. Retained earnings |
11,795,000,000 |
8,501,789,791 |
|
11. Construction investment fund |
0 |
0 |
|
12. Business arrangement supporting fund |
0 |
0 |
|
II. Other
sources and funds |
113,000,000
|
126,733,500
|
|
1. Bonus and welfare funds (Elder form) |
113,000,000 |
126,733,500 |
|
2. Sources of expenditure |
0 |
0 |
|
3. Fund to form fixed assets |
0 |
0 |
|
MINORITY’S
INTEREST |
0 |
0 |
|
TOTAL
LIABILITIES AND OWNER’S EQUITY |
108,590,000,000
|
104,182,208,287
|
|
|
||
|
PROFIT
& LOSS STATEMENT |
||
|
|
||
|
Description |
FY2011 |
FY2010 |
|
1. Total Sales |
95,476,000,000
|
78,245,249,508
|
|
2. Deduction item |
2,971,000,000 |
1,083,383,862 |
|
3. Net sale |
92,505,000,000
|
77,161,865,646
|
|
4. Costs of goods sold |
59,213,000,000 |
52,540,056,158 |
|
5. Gross profit |
33,292,000,000
|
24,621,809,488
|
|
6. Financial income |
180,000,000 |
28,870,000 |
|
7. Financial expenses |
10,411,000,000 |
6,133,010,631 |
|
- In which: Loan interest expenses |
0 |
0 |
|
8. Selling expenses |
9,984,000,000 |
6,391,993,219 |
|
9. Administrative overheads |
9,367,000,000 |
9,086,000,000 |
|
10. Net operating profit |
3,710,000,000
|
3,039,675,638
|
|
11. Other income |
0 |
1,644,035,000 |
|
12. Other expenses |
0 |
1,112,861,600 |
|
13. Other profit /(loss) |
0 |
531,173,400
|
|
14. Total accounting profit before tax |
3,710,000,000
|
3,570,849,038
|
|
15. Current corporate income tax |
417,000,000 |
437,862,903 |
|
16. Deferred corporate income tax |
0 |
0 |
|
17. Interest from subsidiaries/related companies |
0 |
0 |
|
18. Profit after tax |
3,293,000,000
|
3,132,986,135
|
|
|
|||
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
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|
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|
Description |
FY2011 |
FY2010 |
Average Industry |
|
Current liquidity ratio |
1.18 |
1.03 |
1.80 |
|
Quick liquidity ratio |
0.49 |
0.52 |
1.12 |
|
Inventory circle |
1.61 |
2.30 |
3.56 |
|
Average receive period |
76.84 |
83.02 |
117.46 |
|
Utilizing asset performance |
0.85 |
0.74 |
1.10 |
|
Liability by total assets |
74.66 |
76.74 |
50.87 |
|
Liability by owner's equity |
294.70 |
329.94 |
169.03 |
|
Ebit / Total assets (ROA) |
3.42 |
3.43 |
12.05 |
|
Ebit / Owner's equity (ROE) |
13.49 |
14.74 |
27.25 |
|
Ebit / Total sale (NPM) |
3.89 |
4.56 |
12.32 |
|
Gross profit / Total sale (GPM) |
34.87 |
31.47 |
29.69 |
|
Note: The Average Industry
was calculated by VietnamCredit based on our own statistical data |
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PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
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|
|
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|
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, T/T, D/A, D/P |
|
Sale Methods |
|
Wholesaler |
INTERPRETATION ON THE SCORES
|
|
|
|
The
subject was established in 2000 as a limited liability company. Up to 2009, it
was transferred into joint stock company. Currently, it is operating under
the business registration No. 0100976733 with the chartered capital of VND 10
billion. The subject has no plan to increase chartered capital in the next
time. The
subject operates in the sector of processing and trading pharmaceutical
products. The subject often imports pharmaceutical products, materials and
equipment from China, India, and some European countries such as France,
Germany, etc. It mainly distributes products domestically. The small amount
is exported to Laos. It plans to export to Myanmar and Cambodia in coming
time. Head
office of the subject is located at No.93 Linh Lang St., Cong Vi Ward, Ba
Dinh Dist., Hanoi. Besides, the
subject has branches in Thanh Hoa and Cao Bang provinces. The premises and
facilities of the subject are average. The management capacity of the subject
is fair. Its business operation is now rather busy. Currently,
the pharmaceutical industry in Vietnam has developing prospect.
Pharmaceutical products in Vietnam have high price, and companies in this
industry gained comparatively high profit. Regarding the above financial
data, in 2011, both sale and profit of the subject have increase against 2010
with growth ratios of 22% and 5% respectively. However, profitability is
still modest compared with average industry. Ratios evaluate effective
business such as NPM, GPM, ROA, ROE were humble and lower than average
industry. In
general, the subject is an average scale company. The future prospect seems
to be bright. The subject has capacity to meet small-medium business
transactions. |
|
INDUSTRY
DATA |
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|
|
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|
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) |
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|
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 |
|
|
|
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ECONOMIC
INDICATORS |
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|
|
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|
|
2012 |
2011 |
2010 |
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|
Population (Million person) |
88.78 |
87.84 |
86.93 |
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|
Gross Domestic Products (USD billion) |
136 |
119 |
102.2 |
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|
GDP Growth (%) |
5.03 |
5.89 |
6.78 |
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|
GDP Per Capita (USD/person/year) |
1,540 |
1,300 |
1,160 |
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|
Inflation (% Change in Composite CPI) |
9.21 |
18.58 |
11.75 |
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|
State Budget Deficit compared with GDP (%) |
4.8 |
4.9 |
5.8 |
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|
|
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|
SERVICE
TRADE PERFORMANCE |
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|
|
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|
Billion
USD |
2012 |
2011 |
2010 |
|||
|
Exports |
114.6 |
96.3 |
72.2 |
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|
Imports |
114.3 |
105.8 |
84.8 |
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|
Trade Balance |
0.3 |
-9.5 |
-12.6 |
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Source: General
Statistics Office
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.69 |
|
UK Pound |
1 |
Rs.91.66 |
|
Euro |
1 |
Rs.78.69 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.