MIRA INFORM REPORT

 

 

Report Date :

23.10.2013

 

IDENTIFICATION DETAILS

 

Name :

SAO KIM PHARMACEUTICAL JSC

 

 

Registered Office :

Quang Minh Industrial Park Quang Minh Town, Me Linh, Hanoi

 

 

Country :

Vietnam

 

 

Date of Incorporation :

02.08.2010

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacturer of medical equipment & pharmaceutical

 

 

No. of Employees :

240

 

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 :

Unknown

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

:

SAO KIM PHARMACEUTICAL JSC

Address

:

Quang Minh Industrial Park Quang Minh Town, Me Linh, Hanoi

Country

:

Vietnam

Phone (S)

:

[+84] 4-35840789

Facsimile

:

[+84] 4-35840788

Email

:

info@saokimpharma.com

Website

:

http://www.saokimpharma.com

Primary Business Activity

:

Manufacturer

Key Industry

:

Medical Equipment & Pharmaceutical

 

 

Key Facts

 

Registered Legal Address

:

Quang Minh Industrial Park Quang Minh Town, Me Linh, Hanoi

Operational Address

:

Quang Minh Industrial Park Quang Minh Town, Me Linh, Hanoi

Trading Name

:

SAO KIM PHARMA

Name History

:

Business Entity Name

Effective Date

SAO KIM PHARMACEUTICAL CO LTD

24 May, 1999

SAO KIM PHARMACEUTICAL JSC

19 Nov, 2007

Issuing Authority

:

Dept. of Planning & Investment - Hanoi

License Number

:

2500169960

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

:

2 Aug, 2010

Employees

:

240

Capital

:

US$ 4,086,538

 

Report Details

 

 

Country

:

Vietnam

Business Entity Name

:

SAO KIM PHARMACEUTICAL JSC

Primary Business Activity

:

Manufacturer

Primary Industry

:

Medical Equipment & Pharmaceutical

Office Contact Details

Operating Address

:

Quang Minh Industrial Park Quang Minh Town, Me Linh, Hanoi

Tel

:

[+84] 4-35840789

 

:

[+84] 4-35841216

 

:

[+84] 4-35841214

Fax

:

[+84] 4-35840788

Email

:

info@saokimpharma.com

Website Details

Website

:

http://www.saokimpharma.com

Status

:

Normal - operational

Country of Registration

:

Vietnam

Ownership Type

:

Registered ownership by Subject Business Entity

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

:

2500169960

 

 

 

DIRECTORS/MANAGEMENT

 

Key Person

Legal Title

:

Chairman

Name

:

Mr. Duong Ngoc Ha

Nationality

:

Vietnamese

 

 

COMPANY MANAGEMENT

 

 

 

Management Listings

 

 

Name

Nationality

Job Description

Dept. / Division

1

Mr. Duong Ngoc Ha

Vietnamese

Managing Director

-

2

Mr. Nguyen Duc Toai

Vietnamese

Chief Accountant

-

3

Mr. Duong Ngoc Van

Vietnamese

Deputy Managing Director

-

 

 

Management Details - 1

Personal Unique Identifier

:

MI02919204

Name

:

Mr. Duong Ngoc Ha

 

Date of Birth

:

1962

 

 

Management Details - 2

Personal Unique Identifier

:

MI02919231

Name

:

Mr. Nguyen Duc Toai

 

Date of Birth

:

1974

 

 

Management Details - 3

Personal Unique Identifier

:

MI02919205

Name

:

Mr. Duong Ngoc Van

 

Date of Birth

:

1967

 

 

COMPANY DIRECTORS

 

1

 

 

Personal Unique Identifier

:

MI02919204

Name

:

Mr. Duong Ngoc Ha

Date of Birth

:

1962

Nationality

:

Vietnamese

 

 

NEGATIVE INFORMATION

 

 

REPUTATION

 

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

 

 

NEGA-SCAN - ADVERSE DATA MONITORING

 

 

DISHONORED CHECKS

 

No Record Found

 

http://www.asiancredit.com/Manage/Image/space.gif

 

DEBT

 

No Record Found

 

http://www.asiancredit.com/Manage/Image/space.gif

 

LITIGATION

 

No Record Found

 

http://www.asiancredit.com/Manage/Image/space.gif

 

PERFORMANCE DEFAULTS

 

No Record Found

 

http://www.asiancredit.com/Manage/Image/space.gif

 

ADVERSE LOCAL MEDIA COVERAGE / ADVERSE FILING HISTORY

 

No Record Found

 

http://www.asiancredit.com/Manage/Image/space.gif

 

 

 

SHARE & SHARE CAPITAL INFORMATION

 

 

CAPITAL (Currency: VND - Vietnam Dong)

 

Authorized Capital

:

85,000,000,000

 

 

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. Duong Ngoc Ha

Vietnam

n/a

n/a

55.00

2

Mr. Duong Ngoc Van

Vietnam

n/a

n/a

40.00

3

Ms. Dinh Thi Nga

Vietnam

n/a

n/a

5.00

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

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

 

Na

 

 

FINANCIAL INFORMATION

 

 

FINANCIAL STATEMENT - DETAILED

 

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. Therefore no financials are available for this entity.

 

 

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

Allergy treatment

Manufacturing, Exporting

Antibiotic

Manufacturing, Exporting

Bone health product

Manufacturing, Exporting

Cardiovascular medicaments

Manufacturing, Exporting

Drugs

Manufacturing, Exporting

 

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Product/Service Description

Code

Activity

Drugs/Druggists' Sundries

5122

Manufacturing, Exporting

Medical/Dental Equip/Supplies

5047

Manufacturing, Exporting

Medicinals and botanicals

2833

Manufacturing, Exporting

Pharmaceutical preparations

2834

Manufacturing, Exporting

 

 

 

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Product/Service Description

Code

Activity

Antiallergenic preperations

3002905020

Manufacturing, Exporting

Antibiotics

2941

Manufacturing, Exporting

Medicaments nesoi of mixtures, not dosage etc form

3003

Manufacturing, Exporting

Medicaments nesoi, mixed or not, in dosage etc form

3004

Manufacturing, Exporting

Medicaments not elsewhere specified or included

3004906090

Manufacturing, Exporting

Other cardiovascular drugs

2933905300

Manufacturing, Exporting

Other drugs,nesoi

2934302700

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

Flu remedies

Primary

Manufacturing, Exporting

Joint medicines

Primary

Manufacturing, Exporting

Malaria medicines

Primary

Manufacturing, Exporting

Medicines

Primary

Manufacturing, Exporting

Pharmaceutical products

Primary

Manufacturing, Exporting

Treatment products

Primary

Manufacturing, Exporting

 

 

 

 

CORE BUSINESS DESCRIPTION

 

 

 

Core Business

 

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

Key products include :

Allergy treatment

Antibiotic

Bone health product

Cardiovascular medicaments

Drugs

Flu remedies

Joint medicines

Malaria medicines

Medicines

Pharmaceutical products

Treatment products


An integral part of the core business includes:

Distribution

 

 

 

Supplementary Business

 

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

Exporting

Exporting - Finished products

Importing

Importing - Raw materials

 

 

 

 

DOMESTIC SALES & PURCHASES

 

 

 

Annual Sales Analysis

Percentage

Domestic Sales

70%

International Sales (Export)

30%

 

 

 

 

Annual Purchases Analysis

Percentage

Local Purchases

40%

Imports

60%

 

 

 

 

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, QUANG BINH

SWIFT Code

:

BFTVVNVX

 

Bank Name

:

OCEAN COMMERCIAL JOINT STOCK BANK

Global Identifier

:

P1106738

Branch

:

Cau Giay Dist,Hanoi

Branch Address

:

OCEAN COMMERCIAL JOINT STOCK BANK, THANG LONG

SWIFT Code

:

OJBAVNVX

 

 

 

 

LOCAL BRANCHES & MANAGEMENT

 

 

 

Branch

:

SAO KIM PHARMACEUTICAL JSC - HANOI

Branch Address

:

Rm 1607 Bldg 27 Huynh Thuc Khang St, Hanoi

Branch Tel

:

84-4-37735336

Branch Fax

:

84-4-37735338

 

Branch

:

SAO KIM PHARMACEUTICAL JSC - DISTRICT 11, HO CHI MINH

Branch Address

:

319/A8 Ly Thuong Kiet St Ward 15, District 11, Ho Chi Minh

Branch Tel

:

84-8-38645584

Branch Fax

:

84-8-38645583

 

 

 

INTERNATIONAL TRADE - Activity & Markets

 

 

 

 

 

Country / Region

Estimated level of importance

Trading Activity

 

Asia / Pacific

Medium

Importing, Exporting

 

Europe

Medium

Importing

 

Bangladesh

Medium

Exporting

 

Cambodia

Medium

Exporting

 

China

Medium

Importing

 

France

Medium

Importing

 

Germany

Medium

Importing

 

India

Medium

Importing, Exporting

 

Indonesia

Medium

Exporting

 

Korea, South (Republic of Korea)

Medium

Exporting

 

Malaysia

Medium

Exporting

 

Thailand

Medium

Exporting

 

 

 

 

OFFICE & FACILITIES

 

 

 

Name

:

SAO KIM PHARMACEUTICAL JSC - ME LINH, HANOI

Building Size

:

22,000 Square meters

Address

:

Quang Minh Industrial Park Quang Minh Town, Me Linh, Hanoi

Country

:

Vietnam

Other Use

:

Factory, Warehouse

Status

:

Operational

 

 

 

 

COMPANY HISTORY

 

 

 

Date

Details

1999 - May

Incorporated as a Limited Liability Company.

2007 - Nov

Changed its legal form into a Joint Stock Company.

 

 

 

 

QUALITY ACCREDITATION

 

 

 

Quality Accreditation Listings

 

#

Name

Accreditation Category

1

INTERNATIONAL STANDARDS ORGANIZATION (ISO)

9001:2000

 

 

 

 

PREVIOUS BUSINESS LICENSE/S

 

 

 

License Date

License No.

24 May, 1999

1902000538

19 Nov, 2007

1903000359

19 Aug, 2008

0103026381

 

 

 

 

 

NOTES & COMMENTS

 

Na

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.78

UK Pound

1

Rs.99.66

Euro

1

Rs.84.49

 

 

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.