MIRA INFORM REPORT

 

 

Report Date :

30.11.2013

 

IDENTIFICATION DETAILS

 

Name :

KY PHUONG PHARMA JSC

 

 

Registered Office :

A4-22 Saigon Pearl Villas 92 Nguyen Huu Canh St Ward 22, Binh Thanh, Ho Chi Minh

 

 

Country :

Vietnam

 

 

Financials (as on) :

2012

 

 

Date of Incorporation :

17.05.2011

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Importer of Medical Equipment & Pharmaceutical

 

 

No. of Employees :

18

 

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

 

Company Details

 

Organization Name

:

KY PHUONG PHARMA JSC

Name in Local Language

:

CONG TY CO PHAN DUOC PHAM KY PHUONG

Address

:

A4-22 Saigon Pearl Villas 92 Nguyen Huu Canh St Ward 22, Binh Thanh, Ho Chi Minh

Country

:

Vietnam

Phone (S)

:

[+84] 8-62899069

Facsimile

:

[+84] 8-62523737

Email

:

trang@duockyphuong.vn

Primary Business Activity

:

Importer

Key Industry

:

Medical Equipment & Pharmaceutical

 

Key Facts

 

Registered Legal Address

:

A4-22 Saigon Pearl Villas 92 Nguyen Huu Canh St Ward 22, Binh Thanh, Ho Chi Minh

Issuing Authority

:

Dept. of Planning & Investment - Ho Chi Minh

License Number

:

0310857299

License Status

:

License exists - Normal

Legal Form - Category

:

Joint Stock Company

Legal Form

:

Joint Stock Company

Legal Form - Abbreviation

:

JSC

Operational Status of Business

:

Normal

Date of Registration

:

17 May, 2011

Employees

:

18

Capital

:

US$ 194,217

 

Report Details

 

 

Country

:

Vietnam

Business Entity Name

:

KY PHUONG PHARMA JSC

Primary Business Activity

:

Importer

Primary Industry

:

Medical Equipment & Pharmaceutical

Office Contact Details

Operating Address

:

A4-22 Saigon Pearl Villas 92 Nguyen Huu Canh St Ward 22, Binh Thanh, Ho Chi Minh

Tel

:

[+84] 8-62899069

Fax

:

[+84] 8-62523737

Email

:

trang@duockyphuong.vn

Tax / VAT Details

Tax Issuing Authority

:

Ministry of Finance

Local Name Used

:

Gia Trj Gia Tang (Value Added Tax)

Acronym

:

GTGT / VAT

GTGT / VAT Number

:

0310857299

 

 

 

DIRECTORS/MANAGEMENT

 

 

COMPANY MANAGEMENT

 

 

 

Management Listings

 

 

Name

Nationality

Job Description

Dept. / Division

1

Ms. Cao Xuan Trang

Vietnamese

Chief Accountant

-

 

 

Management Details - 1

Personal Unique Identifier

:

MI03574124

Name

:

Ms. Cao Xuan Trang

 

Date of Birth

:

1980

 

 

 

COMPANY DIRECTORS

 

1

 

 

Personal Unique Identifier

:

MI03574123

Name

:

Mr. Trinh Dinh Phuong

Date of Birth

:

1981

Nationality

:

Vietnamese

 

2

 

 

Personal Unique Identifier

:

MI03574118

Name

:

Mr. Trinh Liem

Date of Birth

:

1963

Nationality

:

Vietnamese

 

3

 

 

Personal Unique Identifier

:

MI03574122

Name

:

Ms. Trinh Thi Hong

Date of Birth

:

1974

Nationality

:

Vietnamese

 

 

NEGATIVE INFORMATION

 

 

REPUTATION

 

Due to the recent incorporation of the KY PHUONG PHARMA JSC, and the relatively small nature of its business, no meaningful points of reference in terms of reputation within the respective industry was possible.

 

 

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)

 

Authorized Capital

:

4,100,000,000

 

 

 

 

SHAREHOLDERS

 

Total number of shareholders

:

3

Total number of shares

:

n/a

 

Currency

:

VND - Vietnam Dong

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

Mr. Trinh Liem

Vietnam

n/a

n/a

73.18

2

Ms. Trinh Thi Hong

Vietnam

n/a

n/a

24.39

3

Mr. Trinh Dinh Phuong

Vietnam

n/a

n/a

2.43

Total

n/a

n/a

100.00

 

 

Based on corporate statutory laws / regulations in Vietnam, there is no requirement for public disclosure of Shareholders. In this case, the Shareholders information was supplied by the Subject Business Entity.
However in the absence of data normally obtained from local Statutory Authorities, it is not possible to verify the accuracy of data supplied and hence is provided as reference ONLY.

 

 

PAYMENT INFORMATION

 

 

PAYMENT TERMS

 

Selling

 

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~60 days

 

 

 

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

 

Na

 

 

FINANCIAL INFORMATION

 

 

FINANCIAL STATEMENT - DETAILED

 

 

 

Balance Sheet

 

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

 

Financial Highlights

2011 Annual

2012 Annual

Current Assets

6,707,000,000

19,603,000,000

Non Current Liabilities

-

174,000,000

Share Capital

820,000,000

820,000,000

Other long term assets

Total Assets

6,732,000,000

20,322,000,000

Total Liabilities

5,795,000,000

19,151,000,000

Current Liabilities

5,795,000,000

18,977,000,000

Long term liabilities

Shareholders Funds

937,000,000

1,171,000,000

 

Assets

Current Assets & Short Term Investments

6,707,000,000

19,603,000,000

Cash & Cash Equivalents

1,823,000,000

8,484,000,000

Cash

1,823,000,000

8,484,000,000

Accounts Receivable

3,137,000,000

4,831,000,000

Accounts Receivable Trade

1,917,000,000

3,783,000,000

Trade Prepayment

1,220,000,000

1,048,000,000

Inventories

1,635,000,000

6,030,000,000

Other Short Term Asset

112,000,000

258,000,000

Prepaid Expenses

42,000,000

11,000,000

VAT Deductible

70,000,000

247,000,000

Long Term Assets

25,000,000

719,000,000

Fixed Assets

-

433,000,000

Tangible Fixed Assets

-

322,000,000

Cost

-

338,000,000

Accumulated Depreciation

-

16,000,000

Construction in Progress

-

111,000,000

Other Long Term Assets

25,000,000

286,000,000

Long Term Prepayments

25,000,000

286,000,000

Total Assets

6,732,000,000

20,322,000,000

Liabilities & Equity

Liabilities

5,795,000,000

19,151,000,000

Current Liabilities

5,795,000,000

18,977,000,000

Short Term Borrowings

1,500,000,000

5,466,000,000

Accounts Payables-Trade

3,385,000,000

13,108,000,000

Advances From Customers

864,000,000

79,000,000

Taxes and Payable To State Budget

38,000,000

197,000,000

Payable To Employees

-

127,000,000

Accrued Expenses Payable

3,000,000

-

Other Payables

5,000,000

-

Long Term Liabilities

-

174,000,000

Long Term Borrowings

-

174,000,000

Owner's Equity

937,000,000

1,171,000,000

Business Capital

820,000,000

820,000,000

Retained Earnings

117,000,000

351,000,000

Total Resources

6,732,000,000

20,322,000,000

 

 

Income Statement

 

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

 

Financial Highlights

2011 Annual

2012 Annual

Turnover

4,629,000,000

70,665,000,000

Profit (Loss) Before Tax

143,000,000

381,000,000

Profit After Tax attributable to Shareholders

117,000,000

234,000,000

 

Gross Sales

4,629,000,000

70,665,000,000

Less Deductions

0

0

Net Income

4,629,000,000

70,665,000,000

Cost of Goods Sold

4,065,000,000

67,056,000,000

Gross Margin

564,000,000

3,609,000,000

Income From Financial Activities

0

8,000,000

Expenses From Financial Activities

6,000,000

459,000,000

In Which: Interest Expenses

6,000,000

459,000,000

Selling Expenses

127,000,000

1,482,000,000

General & Administration Expenses

288,000,000

1,294,000,000

Net Income From Operating Activities

143,000,000

382,000,000

Extraordinary Income

0

0

Extraordinary Expenses

0

1,000,000

Extraordinary Gains

0

(1,000,000)

Net Profit Before Tax

143,000,000

381,000,000

Income Tax

26,000,000

147,000,000

Income Tax Delay

0

0

Net Profit After Tax

117,000,000

234,000,000

 

 

Financial Ratios

 

Financial Highlights

2011 Annual

2012 Annual

Growth %

Year-on-Year Growth

-

1,426.57

Profitability

Profit Margin (%)

2.53

0.33

Return on Equity (%)

12.49

19.98

Return on Assets (%)

1.74

1.15

Leverage

Total Debt Equity (Times)

6.18

16.35

Current Debt Equity (Times)

6.18

16.21

Long Term Debt to Equity

-

0.15

Total Asset To Total Equity

7.18

17.35

Asset Management

Total Assets Turnover (Times)

0.69

3.48

Liquidity

Current Ratio

1.16

1.03

 

 

Based on the corporate laws of Vietnam, legal entities which are Joint Stock Company are not required to make public disclosure of their annual financials. Although financials were obtained for reference.

 

 

FOREIGN EXCHANGE RATES

 

Today's Exchange rate

:

1.00 VND
Vietnam Dong

=

0.000047 USD
United States Dollars

 

 

ADDITIONAL INFORMATION

 

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Product/Service Description

Code

Activity

Medicinals and botanicals

2833

Importing, Trading

Pharmaceutical preparations

2834

Importing, Trading

 

 

 

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Product/Service Description

Code

Activity

Medicaments not elsewhere specified or included

3004906090

Importing, Trading

Pharmaceutical goods (specified sterile prod etc.)

3006

Importing, Trading

Pharmaceutical products

3000

Importing, Trading

 

 

 

 

CORE BUSINESS DESCRIPTION

 

 

 

Core Business

 

The primary business focus of KY PHUONG PHARMA JSC is Importing - Finished products.

Key product include :

Pharmaceutical products

 

 

 

Supplementary Business

 

In addition to the core business, KY PHUONG PHARMA JSC also is engaged in the following areas of business:

Trading

Trading - Finished products

 

 

 

 

DOMESTIC SALES & PURCHASES

 

 

 

Annual Sales Analysis

Percentage

Domestic Sales

100%

 

 

 

Annual Purchases Analysis

Percentage

Local Purchases

40%

Imports

60%

 

 

 

BANK DETAILS

 

 

 

Bank Name

:

ASIA COMMERCIAL BANK

Global Identifier

:

P0075118

Branch

:

District 3,Ho Chi Minh

Branch Address

:

ASIA COMMERCIAL BANK - DISTRICT 3, HO CHI MINH

SWIFT Code

:

ASCBVNVX

 

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, PHU THO BRANCH

SWIFT Code

:

BFTVVNVX

 

Bank Name

:

MILITARY COMMERCIAL JOINT STOCK BANK

Global Identifier

:

P0387295

Branch

:

Dong Da,Hanoi

Branch Address

:

BAC SAI GON

SWIFT Code

:

MSCBVNVX

 

Bank Name

:

SAIGON THUONG TIN COMMERCIAL BANK (SACOMBANK)

Global Identifier

:

P0024801

Branch

:

District 3,Ho Chi Minh

Branch Address

:

BINH THANH

SWIFT Code

:

SGTTVNVX

 

 

 

INTERNATIONAL TRADE - Activity & Markets

 

 

 

 

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing

China

Medium

Importing

Hong Kong

Medium

Importing

Korea, South (Republic of Korea)

Medium

Importing

 

 

 

 

REAL ESTATE OWNERSHIP

 

 

 

The following property / ies are owned by KY PHUONG PHARMA JSC :

 

 

 

Property Name

:

KY PHUONG PHARMA JSC - BINH THANH, HO CHI MINH

Type of Property

:

Office

Address

:

A4-22 Saigon Pearl Villas 92 Nguyen Huu Canh St Ward 22, Binh Thanh, Ho Chi Minh

Office Size

:

300 Square meters

 

 

 

 

 

 

NOTES & COMMENTS

 

Na

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.39

UK Pound

1

Rs.102.06

Euro

1

Rs.84.98

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIS

 

 

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.