MIRA INFORM REPORT

 

 

Report Date :

21.11.2013

 

IDENTIFICATION DETAILS

 

Name :

DHG PHARMACEUTICAL JSC

 

 

Registered Office :

An Hoa Ward 288 Bis Nguyen Van Cu St, Ninh Kieu Dist, Can Tho

 

 

Country :

Vietnam

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

04.09.2009

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacturer of Medical Equipment & Pharmaceutical

 

 

No. of Employees :

2700

 

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 – March, 31st, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Vietnam

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

VIETNAM - ECONOMIC OVERVIEW

 

Vietnam is a densely-populated developing country that has been transitioning from the rigidities of a centrally-planned economy since 1986. Vietnamese authorities have reaffirmed their commitment to economic modernization in recent years. Vietnam joined the World Trade Organization in January 2007, which has promoted more competitive, export-driven industries. Vietnam became an official negotiating partner in the Trans-Pacific Partnership trade agreement in 2010. Agriculture's share of economic output has continued to shrink from about 25% in 2000 to less than 22% in 2012, while industry's share increased from 36% to nearly 41% in the same period. State-owned enterprises account for roughly 40% of GDP. Poverty has declined significantly, and Vietnam is working to create jobs to meet the challenge of a labor force that is growing by more than one million people every year. The global recession hurt Vietnam's export-oriented economy, with GDP in 2012 growing at 5%, the slowest rate of growth since 1999. In 2012, however, exports increased by more than 18%, year-on-year; several administrative actions brought the trade deficit back into balance. Between 2008 and 2011, Vietnam's managed currency, the dong, was devalued in excess of 20%, but its value remained stable in 2012. Foreign direct investment inflows fell 4.5% to $10.5 billion in 2012. Foreign donors have pledged $6.5 billion in new development assistance for 2013. Hanoi has oscillated between promoting growth and emphasizing macroeconomic stability in recent years. In February 2011, the government shifted from policies aimed at achieving a high rate of economic growth, which had stoked inflation, to those aimed at stabilizing the economy, through tighter monetary and fiscal control. Although Vietnam unveiled a broad, "three pillar" economic reform program in early 2012, proposing the restructuring of public investment, state-owned enterprises, and the banking sector, little perceptible progress had been made by early 2013. Vietnam's economy continues to face challenges from an undercapitalized banking sector. Non-performing loans weigh heavily on banks and businesses. In September 2012, the official bad debt ratio climbed to 8.8%, though some independent analysts believe it could be higher than 15%.

 

Source : CIA

 

REGISTERED NAME & COMPANY SUMMARY

 

Organization Name

:

DHG PHARMACEUTICAL JSC

Address

:

An Hoa Ward 288 Bis Nguyen Van Cu St, Ninh Kieu Dist, Can Tho

Country

:

Vietnam

Phone (S)

:

[+84] 710-3895209

Facsimile

:

[+84] 710-3825209

Email

:

dhgpharma@dhgpharma.com.vn

Website

:

http://www.dhgpharma.com.vn

Primary Business Activity

:

Manufacturer

Key Industry

:

Medical Equipment & Pharmaceutical

 

Key Facts

 

Registered Legal Address

:

An Hoa Ward 288 Bis Nguyen Van Cu St, Ninh Kieu Dist, Can Tho

Operational Address

:

An Hoa Ward 288 Bis Nguyen Van Cu St, Ninh Kieu Dist, Can Tho

Trading Name

:

DHG PHARMA

Name History

:

Business Entity Name

Effective Date

XI NGHIEP QUOC DOANH DUOC PHAM 2/9

2 Sep, 1974

XI NGHIEP LIEN HIEP DUOC HAU GIANG

1982

DHG PHARMACEUTICAL JSC

13 Jan, 2005

Issuing Authority

:

Dept. of Planning & Investment - Can Tho

License Number

:

1800156801

License Status

:

License exists - Normal.

Legal Form - Category

:

Public Listed Company

Legal Form

:

Joint Stock Company

Legal Form - Abbreviation

:

JSC

Operational Status of Business

:

Normal

Date of Registration

:

4 Sep, 2009

Employees

:

2,700

Capital

:

US$ 30,968,811

 

Report Details

 

Country

:

Vietnam

Business Entity Name

:

DHG PHARMACEUTICAL JSC

Primary Business Activity

:

Manufacturer

Primary Industry

:

Medical Equipment & Pharmaceutical

Office Contact Details

Operating Address

:

An Hoa Ward 288 Bis Nguyen Van Cu St, Ninh Kieu Dist, Can Tho

Tel

:

[+84] 710-3895209

 

:

[+84] 710-3890074

 

:

[+84] 710-3891433

Fax

:

[+84] 710-3825209

Email

:

dhgpharma@dhgpharma.com.vn

Website Details

Website

:

http://www.dhgpharma.com.vn

Status

:

Normal - operational

Country of Registration

:

Vietnam

Ownership Type

:

Registered ownership by Subject Business Entity

 

 

DIRECTORS/MANAGEMENT

 

Key Person

 

Legal Title

:

Chairman

Name

:

Mdm. Pham Thi Viet Nga

Nationality

:

Vietnamese

 

COMPANY MANAGEMENT

 

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Mr. Le Chanh Dao

Vietnamese

Deputy Managing Director

-

2

Ms. Nguyen Ngoc Diep

Vietnamese

Deputy Managing Director

-

3

Ms. Le Minh Hong

Vietnamese

Managing Director

Business Development

4

Mr. Doan Dinh Duy Khuong

Vietnamese

Deputy Managing Director

-


 

Management Details - 1

Personal Unique Identifier

:

MI03565912

Name

:

Mr. Le Chanh Dao

 

Date of Birth

:

1959

 

Management Details - 2

Personal Unique Identifier

:

MI03565916

Name

:

Ms. Nguyen Ngoc Diep

 

Date of Birth

:

1968

 

Management Details - 3

Personal Unique Identifier

:

MI03565866

Name

:

Ms. Le Minh Hong

 

Date of Birth

:

1959

 

Management Details - 4

Personal Unique Identifier

:

MI03565914

Name

:

Mr. Doan Dinh Duy Khuong

 

Date of Birth

:

1974

 

 

LOCAL BRANCHES & MANAGEMENT

 

Branch

:

DHG PHARMACEUTICAL JSC - DONG DA, HANOI

Branch Address

:

95 Lang Ha St, Dong Da, Hanoi

 

Branch

:

DHG PHARMACEUTICAL JSC - LE CHAN DIST, HAIPHONG

Branch Address

:

4/345 Tran Nguyen Han St, Le Chan Dist, Haiphong

 

Branch

:

DHG PHARMACEUTICAL JSC - DISTRICT 1, HO CHI MINH

Branch Address

:

200 Co Bac St, District 1, Ho Chi Minh

 

Branch

:

DHG PHARMACEUTICAL JSC - QUANG NGAI, QUANG NGAI

Branch Address

:

9 Le Thanh Ton St, Quang Ngai, Quang Ngai

 

Branch

:

DHG PHARMACEUTICAL JSC - HUE, THUA THIEN-HUE

Branch Address

:

117 Nguyen Hue St, Hue, Thua Thien-Hue


COMPANY DIRECTORS

 

1

 

 

Personal Unique Identifier

:

MI01961744

Name

:

Mdm. Pham Thi Viet Nga

Date of Birth

:

1951

Nationality

:

Vietnamese

 

2

 

 

Personal Unique Identifier

:

MI03565914

Name

:

Mr. Doan Dinh Duy Khuong

Date of Birth

:

1974

Nationality

:

Vietnamese

 

3

 

 

Personal Unique Identifier

:

MI03565912

Name

:

Mr. Le Chanh Dao

Date of Birth

:

1959

Nationality

:

Vietnamese

 

4

 

 

Personal Unique Identifier

:

MI03565866

Name

:

Ms. Le Minh Hong

Date of Birth

:

1959

Nationality

:

Vietnamese

 

5

 

 

Personal Unique Identifier

:

MI03565916

Name

:

Ms. Nguyen Ngoc Diep

Date of Birth

:

1968

Nationality

:

Vietnamese

 

 

NEGATIVE INFORMATION

 

NEGA-SCAN - ADVERSE DATA MONITORING

 

 

DISHONORED CHECKS

 

No Record Found

 

 

DEBT

 

No Record Found

 

 

LITIGATION

 

No Record Found

 

 

PERFORMANCE DEFAULTS

 

No Record Found

 

 

ADVERSE LOCAL MEDIA COVERAGE / ADVERSE FILING HISTORY

 

No Record Found

 

 

 

SHARE & SHARE CAPITAL INFORMATION

 

CAPITAL (Currency: VND - Vietnam Dong)

Share Value

:

10,000

Authorized Capital

:

653,764,290,000

Paid-up Capital

:

653,764,290,000

 

Date

Authorized Capital - History

Dec, 2008

200,000,000,000

Dec, 2009

266,629,620,000

Dec, 2010

269,129,620,000

Dec, 2011

651,764,290,000

Dec, 2012

653,764,290,000

 

 

SHAREHOLDERS

 

Total number of shareholders

:

Public shareholding traded via Stock Exchange

Total number of shares

:

65,376,429

 

Currency

:

VND - Vietnam Dong

 

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

STATE CAPITAL INVESTMENT CORP

Vietnam

28,314,531

283,145,310,000

43.31

2

Public shareholding traded via Stock Exchange

n/a

26,470,916

264,709,160,000

40.49

3

FRANKLIN TEMPLETON INVESTMENT FUNDS - TEMPLETON FRONTIER MARKETS FUND

Luxembourg

5,825,040

58,250,400,000

8.91

4

VIETNAM HOLDING LTD

Vietnam

1,614,798

16,147,980,000

2.47

5

VIETNAM ENTERPRISE INVESTMENT LTD

Vietnam

1,588,647

15,886,470,000

2.43

6

KITMC WORLDWIDE VIETNAM RSP BALANCE FUND

Vietnam

1,562,497

15,624,970,000

2.39

Total

65,376,429

653,764,290,000

100.00

 

Today's Exchange rate

:

1.00 VND
Vietnam Dong

=

0.000047 USD
United States Dollars

 

 

PAYMENT INFORMATION

 

 

DOMESTIC SALES & PURCHASES

 

Annual Sales Analysis

Percentage

Domestic Sales

98%

International Sales (Export)

2%

 

Annual Purchases Analysis

Percentage

Local Purchases

20%

Imports

80%

 

 

PAYMENT TERMS

 

Selling

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~60 days

Export

Letter of Credit (At-sight)

Telegraphic Transfer (T/T) - Received at time of transaction

 

Purchasing

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~60 days

Import

Letter of Credit (At-sight)

Telegraphic Transfer (T/T) - Executed at time of transaction

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

RELATED PARTIES (Subsidiaries , Joint-ventures & Affiliates)

 

The following provides a summary of the number of businesses that are related to DHG PHARMACEUTICAL JSC:

 

TYPE

DOMESTIC

TOTAL

Subsidiaries

16

Joint-Ventures

-

Minority shareholdings

1

Affiliates

-

 

Domestic

 

Business Entity Name

:

A&G PHARMACEUTICAL ONE-MEMBER CO LTD

Global Identifier

:

P2911468

Country

:

Vietnam

Relationship

:

Subsidiary

Operational Address

:

Long Xuyen, An Giang

Primary Business Activity

:

Trader

Industry

:

Medical Equipment & Pharmaceutical

 

Business Entity Name

:

B&T PHARMACEUTICAL ONE-MEMBER CO LTD

Global Identifier

:

P2911488

Country

:

Vietnam

Relationship

:

Subsidiary

Operational Address

:

Ben Tre, Ben Tre

Primary Business Activity

:

Trader

Industry

:

Medical Equipment & Pharmaceutical

 

Business Entity Name

:

BALI PHARMACEUTICAL ONE-MEMBER CO LTD

Global Identifier

:

P2911486

Country

:

Vietnam

Relationship

:

Subsidiary

Operational Address

:

Bac Lieu, Bac Lieu

Primary Business Activity

:

Trader

Industry

:

Medical Equipment & Pharmaceutical

 

Business Entity Name

:

CM PHARMACEUTICAL ONE-MEMBER CO LTD

Global Identifier

:

P2911455

Country

:

Vietnam

Relationship

:

Subsidiary

Operational Address

:

Ca Mau, Ca Mau

Primary Business Activity

:

Trader

Industry

:

Medical Equipment & Pharmaceutical

 

Business Entity Name

:

DHG NATURE ONE-MEMBER CO LTD

Global Identifier

:

P2911960

Country

:

Vietnam

Relationship

:

Subsidiary

Primary Business Activity

:

Trader

Industry

:

Medical Equipment & Pharmaceutical

 

Business Entity Name

:

DHG ONE-MEMBER CO LTD

Global Identifier

:

P2911980

Country

:

Vietnam

Relationship

:

Subsidiary

Primary Business Activity

:

Trader

Industry

:

Medical Equipment & Pharmaceutical

 

Business Entity Name

:

DHG PP ONE-MEMBER CO LTD

Global Identifier

:

P2911966

Country

:

Vietnam

Relationship

:

Subsidiary

Primary Business Activity

:

Manufacturer

Industry

:

Packaging

 

Business Entity Name

:

DHG TRAVEL ONE-MEMBER CO LTD

Global Identifier

:

P2911949

Country

:

Vietnam

Relationship

:

Subsidiary

Primary Business Activity

:

Service

Industry

:

Professional Services

 

 

Business Entity Name

:

DT PHARMACEUTICAL ONE-MEMBER CO LTD

Global Identifier

:

P2911460

Country

:

Vietnam

Relationship

:

Subsidiary

Operational Address

:

Cao Lanh, Dong Thap

Primary Business Activity

:

Trader

Industry

:

Medical Equipment & Pharmaceutical

 

Business Entity Name

:

HT PHARMACEUTICAL ONE-MEMBER CO LTD

Global Identifier

:

P2911459

Country

:

Vietnam

Relationship

:

Subsidiary

Operational Address

:

Rach Gia, Kien Giang

Primary Business Activity

:

Trader

Industry

:

Medical Equipment & Pharmaceutical

 

Business Entity Name

:

SH PHARMACEUTICAL JSC

Global Identifier

:

P2911484

Country

:

Vietnam

Relationship

:

Subsidiary

Operational Address

:

Vi Thanh, Hau Giang

Primary Business Activity

:

Trader

Industry

:

Medical Equipment & Pharmaceutical

 

Business Entity Name

:

ST PHARMACEUTICAL ONE-MEMBER CO

Global Identifier

:

P2911464

Country

:

Vietnam

Relationship

:

Subsidiary

Operational Address

:

Soc Trang, Soc Trang

Primary Business Activity

:

Trader

Industry

:

Medical Equipment & Pharmaceutical

 

Business Entity Name

:

TG PHARMACEUTICAL ONE-MEMBER CO LTD

Global Identifier

:

P2911454

Country

:

Vietnam

Relationship

:

Subsidiary

Operational Address

:

908 Ly Thuong Kiet St Ward 5, My Tho, Tien Giang

Primary Business Activity

:

Trader

Industry

:

Medical Equipment & Pharmaceutical

 

Business Entity Name

:

TOT PHARMACEUTICAL ONE-MEMBER CO LTD

Global Identifier

:

P2911447

Country

:

Vietnam

Relationship

:

Subsidiary

Operational Address

:

152 Nguyen An Ninh St Tan An Ward, Ninh Kieu Dist, Can Tho

Primary Business Activity

:

Trader

Industry

:

Medical Equipment & Pharmaceutical

 

Business Entity Name

:

TVP PHARMACEUTICAL ONE-MEMBER CO LTD

Global Identifier

:

P2911491

Country

:

Vietnam

Relationship

:

Subsidiary

Operational Address

:

Tra Vinh, Tra Vinh

Primary Business Activity

:

Trader

Industry

:

Medical Equipment & Pharmaceutical

 

Business Entity Name

:

VINH HAO ALGAE PROCESSING JSC

Global Identifier

:

P2911996

Country

:

Vietnam

Relationship

:

Minority shareholding

Primary Business Activity

:

Service

Industry

:

Agricultural Products

 

Business Entity Name

:

VL PHARMACEUTICAL CO LTD

Global Identifier

:

P2911990

Country

:

Vietnam

Relationship

:

Subsidiary

Primary Business Activity

:

Service

Industry

:

Medical Equipment & Pharmaceutical

 

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

 

Year

Sales

Assets

Net Income

2011 Annual  

120,538,893

95,809,249

20,151,808

2012 Annual  

141,624,712

114,204,248

23,591,876

2013 3rd Qtr  

137,349,530

131,611,701

21,493,115


Sales Trend – Analysis

 

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

-

-

-

-

 

International Trade - Statistics  (Currency: USD - US Dollar)

 

Year

Imports

Exports

Total

2006

n/a

10,939,381

10,939,381

 

FINANCIALS - SUMMARY (Currency: USD - US Dollar)

 

Year

Sales

Assets

Net Income

2006 Annual

54,696,905

30,249,781

5,454,204

2008 Annual

91,582,441

65,246,215

7,840,446

2009 Annual

99,234,512

85,312,327

20,310,548

2010 Annual

105,297,474

93,367,629

19,668,303

 

 

FINANCIAL STATEMENT - DETAILED

 

Balance Sheet

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2011 Annual

2012 Annual

2013 3rd Qtr

Current Assets

1,490,691,786,181

1,817,659,554,913

2,062,468,156,717

Non Current Assets

505,014,880,878

560,605,090,482

715,908,810,193

Non Current Liabilities

70,135,378,637

37,013,237,974

62,496,806,267

Share Capital

651,764,290,000

653,764,290,000

653,764,290,000

Total Reserves

-

-

-

Other long term assets 

Total Assets

1,995,706,667,059

2,378,264,645,395

2,778,376,966,910

Total Liabilities

614,159,803,584

690,545,394,129

935,175,866,678

Current Liabilities

544,024,424,947

653,532,156,155

872,679,060,411

Long term liabilities 

Shareholders Funds

1,381,546,863,475

1,687,719,251,266

1,843,201,100,232

 

ASSETS 

Current assets

1,490,691,786,181

1,817,659,554,913

2,062,468,156,717

Cash and cash equivalents

467,084,218,098

718,975,317,797

464,322,719,652

Cash

343,614,925,745

179,126,910,532

188,204,383,443

Cash equivalents

123,469

539,848,407,265

276,118,336,209

Short-term investments

-

-

220,000,000,000

Accounts receivable

489,939,062,124

574,318,472,865

611,945,589,049

Trade accounts receivable

340,585,766,770

449,467,053,831

427,202,581,256

Prepayments to suppliers

79,032,748,156

84,260,939,798

120,177,734,487

Other receivables

73,173,069,305

46,319,680,651

71,034,721,033

Provision for doubtful debts

(2,852,522,107)

(5,729,201,415)

(6,469,447,727)

Inventories (I)

515,191,425,774

511,841,369,741

742,449,447,515

Inventories (II)

519,861,087,569

517,869,958,874

748,409,196,802

Provision for decline in value of inventories

(4,669,661,795)

(6,028,589,133)

(5,959,749,287)

Other current assets (I)

18,477,080,185

12,524,394,510

23,750,400,501

Short-term prepayments

1,431,601,904

819,469,001

2,800,540,987

Vat to be reclaimed

4,301,209,672

3,876,949,889

7,032,216,076

Other taxes receivable

4,108,142,811

1,882,551,193

1,334,456,386

Other current assets (II)

8,636,125,798

5,945,424,427

12,583,187,052

Long-term assets

505,014,880,878

560,605,090,482

715,908,810,193

Fixed assets

459,454,490,641

517,134,916,078

671,610,153,915

Tangible fixed assets

255,330,772,673

279,742,292,179

277,347,155,804

Cost (I)

443,230,788,716

522,619,957,611

549,270,558,387

Accumulated depreciation (I)

(187,900,016,043)

(242,877,665,432)

(271,923,402,583)

Intangbile fixed assets

157,377,310,396

167,001,188,865

177,396,135,579

Cost (II)

163,249,725,488

174,923,643,193

188,057,969,354

Accumulated amortisation (II)

(5,872,415,092)

(7,922,454,328)

(10,661,833,775)

Construction in progress

46,746,407,572

70,391,435,034

216,866,862,532

Minority interest

11,911,380,319

15,750,128,249

16,718,295,838

Investments in associates

10,086,282,266

9,334,273,514

5,434,273,514

Other long-term investments

11,901,050,200

11,831,050,200

31,831,050,200

Provision for diminution in value of long-term investments

(4,513,881,449)

(4,513,881,449)

(21,013,881,449)

Other long-term assets (I)

28,086,939,220

26,818,732,139

28,047,214,013

Long-term prepayments

20,446,170,185

19,347,501,172

17,387,531,008

Deferred income tax assets

5,509,693,831

5,840,892,665

8,171,135,818

Other long-term assets (II)

2,131,075,204

1,630,338,302

2,488,547,187

Total assets

1,995,706,667,059

2,378,264,645,395

2,778,376,966,910

LIABILITIES & OWNERS' EQUITY 

Liabilities

602,248,423,265

674,795,265,880

918,457,570,840

Current liabilities

544,024,424,947

653,532,156,155

872,679,060,411

Short-term borrowings

21,115,601,324

19,484,808,997

24,711,069,020

Trade accounts payable

123,618,564,257

73,733,794,359

258,682,804,049

Advances from customers

720,929,252

1,236,669,394

1,816,918,710

Taxes and other payables to State Budget

28,297,625,312

33,519,701,311

47,075,270,435

Payable to employees

125,958,570,389

157,300,094,036

127,758,832,174

Accrued expenses

165,931,042,238

242,014,199,700

259,991,912,685

Other short-term payables

33,834,092,563

63,583,567,645

73,874,355,003

Bonus and welfare funds

44,547,699,612

62,659,320,713

78,767,898,335

Provision for severance allowance

33,818,985,521

-

-

Long-term liabilities

24,405,312,797

21,263,109,725

45,778,510,429

Science and technology development fund

24,405,312,797

21,263,109,725

45,778,510,429

Owners' equity

1,381,546,863,475

1,687,719,251,266

1,843,201,100,232

Capital and reserves

1,381,546,863,475

1,687,719,251,266

1,843,201,100,232

Owners' capital

651,764,290,000

653,764,290,000

653,764,290,000

Treasury shares

(455,850,000)

(455,850,000)

(455,850,000)

Investment and development fund

286,384,048,884

491,137,167,263

701,396,760,268

Financial reserve fund

66,541,621,663

66,762,044,635

66,929,751,817

Undistributed earnings

377,312,752,928

476,511,599,368

421,566,148,147

Long-term investments

17,473,451,017

16,651,442,265

16,251,442,265

Total resources

1,995,706,667,059

2,378,264,645,395

2,778,376,966,910

 

 

Income Statement

 

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2011 Annual

2012 Annual

2013 3rd Qtr

Turnover

2,510,825,145,928

2,949,286,471,548

2,899,504,900,900

Profit (Loss) Before Tax

490,941,709,926

584,787,556,253

583,626,440,861

Profit After Tax attributable to Shareholders

419,762,158,583

491,292,801,008

453,728,471,455

 

Sales

2,510,825,145,928

2,949,286,471,548

2,899,504,900,900

Less deductions

(19,945,210,196)

(18,209,979,100)

(511,775,548,062)

Net sales

2,490,879,935,732

2,931,076,492,448

2,387,729,352,873

Cost of sales

(1,282,117,010,705)

(1,487,277,836,618)

(1,283,185,846,558)

Gross profit

1,208,762,925,027

1,443,798,655,830

1,104,543,506,315

Financial income

48,895,136,206

42,177,420,081

37,358,856,343

Financial expenses

(7,182,687,737)

(4,453,033,603)

(5,862,695,041)

In which: Interest expenses

(2,038,850,925)

(2,611,607,290)

(1,745,463,567)

Selling expenses

(558,862,870,510)

(709,601,447,810)

(496,803,043,410)

General and administrative expenses

(185,188,217,125)

(218,227,172,727)

(190,870,233,075)

Operating profit

506,424,285,861

553,694,421,771

448,366,391,132

Other income

9,934,185,563

39,624,828,016

149,800,188,873

Other expenses

(15,391,090,405)

(8,344,134,782)

(14,140,139,144)

Net other income

(5,456,904,842)

31,280,693,234

135,660,049,729

Share of associates' results

(10,025,671,093)

(187,558,752)

(400,000,000)

Net accounting profit before tax

490,941,709,926

584,787,556,253

583,626,440,861

Business income tax-current

(72,903,779,886)

(93,825,954,079)

(132,228,212,559)

Business income tax- deferred

1,724,228,543

331,198,834

2,330,243,153

Net profit after tax

419,762,158,583

491,292,801,008

453,728,471,455

Attributable to: 

Minority interest

4,235,578,682

5,371,014,333

2,933,091,522

Shareholders of the Parents' Company

415,526,579,901

485,921,786,675

450,795,379,933

Basic earnings per share

6,382

7,443

6,896

 

 

Financial Ratios

 

Financial Highlights

2011 Annual

2012 Annual

2013 3rd Qtr

Growth % 

Year-on-Year Growth

22.35

17.46

-

Profitability 

Profit Margin (%)

16.72

16.66

15.65

Return on Equity (%)

30.38

29.11

24.62

Return on Assets (%)

21.03

20.66

16.33

Leverage 

Total Debt Equity (Times)

0.44

0.41

0.51

Current Debt Equity (Times)

0.39

0.39

0.47

Long Term Debt to Equity

0.05

0.02

0.03

Total Asset To Total Equity

1.44

1.41

1.51

Asset Management 

Total Assets Turnover (Times)

1.26

1.24

1.04

Fixed Assets Turnover (Times)

4.97

5.26

4.05

Liquidity 

Current Ratio

2.74

2.78

2.36

 

 

FOREIGN EXCHANGE RATES

 

Today's Exchange rate

:

1.00 VND
Vietnam Dong

=

0.000047 USD
United States Dollars

 

 

ADDITIONAL INFORMATION

 

Primary Products

 

Products / Materials / Services Description

Activity

Analgesics

Manufacturing, Exporting

Anti-fungal products

Manufacturing, Exporting

Anti-parasitic products

Manufacturing, Exporting

Antibiotics

Manufacturing, Exporting

Antipyretics

Manufacturing, Exporting

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

 

Product/Service Description

Code

Activity

Food and Kindred Products

2000

Manufacturing, Exporting

Food products, nspf

2099

Manufacturing, Exporting

Medical/Dental Equip/Supplies

5047

Manufacturing, Exporting

Medicinals and botanicals

2833

Manufacturing, Exporting

Pharmaceutical preparations

2834

Manufacturing, Exporting

Toilet preparations

2844

Manufacturing, Exporting

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

 

Product/Service Description

Code

Activity

Antibiotics

2941

Manufacturing, Exporting

Cough and cold preparations

3004909075

Manufacturing, Exporting

Depilatories and other perfumery, cosmetic or toilet preparations

3307900000

Manufacturing, Exporting

Food preparations

2106

Manufacturing, Exporting

Medicaments nesoi, mixed or not, in dosage etc form

3004

Manufacturing, Exporting

Oils & resinoids, perfumery, cosmetic or toilet preparations

3300

Manufacturing, Exporting

Other medicaments primarily affecting the digestive system not elsewhere specified or included

3004909060

Manufacturing, Exporting

Pharmaceutical goods (specified sterile prod etc.)

3006

Manufacturing, Exporting

Pharmaceutical products

3000

Manufacturing, Exporting

 

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

 

Products / Materials / Services Description

Ranking

Activity

Antipyretics

Primary

Manufacturing, Exporting

Cardiovascular products

Primary

Manufacturing, Exporting

Cosmetic products

Primary

Manufacturing, Exporting

Cough medicines

Primary

Manufacturing, Exporting

Dietary supplements

Primary

Manufacturing, Exporting

Digestive drugs

Primary

Manufacturing, Exporting

Ophthalmic products

Primary

Manufacturing, Exporting

Pharmaceutical products

Primary

Manufacturing, Exporting

Vitamins

Primary

Manufacturing, Exporting

 

 

CORE BUSINESS DESCRIPTION

 

Core Business

The primary business focus of DHG PHARMACEUTICAL JSC is Manufacturing - Finished products.

Key products include :

·         Analgesics

·         Anti-fungal products

·         Anti-parasitic products

·         Antibiotics

·         Antipyretics

·         Antipyretics

·         Cardiovascular products

·         Cosmetic products

·         Cough medicines

·         Dietary supplements

·         Digestive drugs

·         Ophthalmic products

·         Pharmaceutical products

·         Vitamins


An integral part of the core business includes:

·         Distribution

 

Supplementary Business

 

In addition to the core business, DHG PHARMACEUTICAL JSC also is engaged in the following areas of business:

Exporting

Exporting - Finished products

Importing

Importing - Raw materials

 

 

STOCK EXCHANGE LISTING DETAILS

 

Country

:

Vietnam

Name of Stock Exchange

:

Name

Acronym

HOCHIMINH STOCK EXCHANGE

HOSE

Stock Symbol / No.

:

DHG

Date of listing

:

21 Dec, 2006

 

 

 

REPUTATION

 

Reference checking for the purpose of establishing the DHG PHARMACEUTICAL JSC's reputation within the respective industry failed to reveal any adverse information.

 

 

BANK DETAILS

 

Bank Name

:

JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM

Global Identifier

:

P1072025

Branch

:

Hanoi

Branch Address

:

JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM - CAN THO

SWIFT Code

:

BFTVVNVX

 

Bank Name

:

VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY & TRADE

Global Identifier

:

32404058

Branch

:

Hoan Kiem Dist,Hanoi

Branch Address

:

VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY

SWIFT Code

:

ICBVVNVX

 

 

INTERNATIONAL TRADE - Activity & Markets

 

 

Country / Region

Estimated level of importance

Trading Activity

Africa

Medium

Exporting

Asia / Pacific

Medium

Importing, Exporting

Europe

Medium

Importing, Exporting

North America

Medium

Importing

Cambodia

Medium

Exporting

China

Medium

Importing

France

Medium

Importing

Hong Kong

Medium

Importing

India

Medium

Importing

Moldova

Medium

Exporting

Mongolia

Medium

Exporting

Myanmar

Medium

Exporting

Nigeria

Medium

Exporting

USA

Medium

Importing

 

OFFICE & FACILITIES

 

Name

:

DHG PHARMACEUTICAL JSC - NINH KIEU DIST, CAN THO

Address

:

An Hoa Ward 288 Bis Nguyen Van Cu St, Ninh Kieu Dist, Can Tho

Country

:

Vietnam

Status

:

Operational

 

 

COMPANY HISTORY

 

Date

Details

1974

Founded as a government-owned enterprise.

2005 - Jan

Changed its legal formation into Joint Stock Company.

 

 

QUALITY ACCREDITATION

 

Quality Accreditation Listings

#

Name

Accreditation Category

1

INTERNATIONAL STANDARDS ORGANIZATION (ISO)

9001:2008

 

 

PREVIOUS BUSINESS LICENSE/S

 

License Date

License No.

15 Oct, 1992

963/QD-UBT-92

13 Jan, 2005

5703000111

 

 

NOTES & COMMENTS

 

N/a

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.56

UK Pound

1

Rs.100.77

Euro

1

Rs.84.71

 

 

INFORMATION DETAILS

 

Report Prepared by :

NNA

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.