|
Report Date : |
23.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
USA - NIC PHARMACEUTICAL COMPANY LIMITED |
|
|
|
|
Formerly Known As : |
N.I.C PHARMACEUTICAL MANUFACTURING –
TRADING COMPANY LIMITED |
|
|
|
|
Registered Office : |
Lot 11D, Road C, Tan Tao Industrial Zone, Tan Tao A Ward, Binh Tan
District, Ho Chi Minh City |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Year of Establishment : |
2004 |
|
|
|
|
Com. Reg. No.: |
0303212966 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
·
Manufacturer of
pharmaceuticals, medicinal chemical and botanical products ·
Wholesaler of other
household products ·
Manufacturer of soap
and detergents, cleaning and polishing preparations ·
Wholesaler of other
machinery and equipment n.e.c |
|
|
|
|
No of Employees : |
150 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 |
Current legal status
|
||
|
English Name |
|
USA - NIC PHARMACEUTICAL COMPANY LIMITED |
|
Vietnamese Name |
|
CONG TY TNHH DUOC PHAM USA-NIC |
|
Trade name |
|
USA - NIC PHARMACEUTICAL COMPANY LIMITED |
|
Short name |
|
USA - NIC PHARMA CO., LTD |
|
Type of Business |
|
Limited liability company |
|
Year Established |
|
2004 |
|
Business Registration No. |
|
0303212966 |
|
Date of Registration |
|
10 Sep 2013 |
|
Place of Registration |
|
Business Registration Office - Planning
and Investment Department of Ho Chi Minh City. |
|
Chartered capital |
|
VND 30,000,000,000 |
|
Tax code |
|
0303212966 |
|
Total Employees |
|
150 |
|
Size |
|
Medium |
Historical
Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Registered
Vietnamese Name: CONG TY TNHH SAN XUAT – THUONG MAI DUOC PHAM N.I.C Changed to: CONG TY TNHH DUOC PHAM USA -
NIC |
10
Sep 2013 |
|
2 |
Subject has got former Registered English
Name: N.I.C PHARMACEUTICAL MANUFACTURING – TRADING COMPANY LIMITED Changed to: USA - NIC PHARMACEUTICAL
COMPANY LIMITED |
10
Sep 2013 |
|
3 |
Subject has got former Abbreviated Name:
N.I.C PHARMA CO., LTD Changed to: USA - NIC PHARMA CO., LTD |
10
Sep 2013 |
|
4 |
Subject has got former Chartered capital
VND 27,000,000,000 Changed to VND 30,000,000,000 |
2013 |
|
5 |
Subject has got former Business
Registration No: 4102020303 Changed to: 0303212966 |
11
Sep 2009 |
ADDRESSES
|
Head Office |
||
|
Address |
|
Lot 11D, Road C, Tan Tao Industrial Zone, Tan
Tao A Ward, Binh Tan District, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 3754 1999 / 3754 1998 |
|
Fax |
|
(84-8) 3754 1995 |
|
Email |
|
|
|
Website |
|
|
|
1.
NAME |
|
Mr.
TRAN DAM SAN |
|
Position |
|
Chairman cum General Director |
|
Date of Birth |
|
01 Jan 1959 |
|
ID Number/Passport |
|
022634905 |
|
ID Issue Date |
|
02 Nov 2000 |
|
ID Issue Place |
|
Police Station of Ho Chi Minh City |
|
Resident |
|
No. 155/24C, To Hien Thanh Street, Ward
13, District 10, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
2.
NAME |
|
Mr.
TRAN VAN HUNG |
|
Position |
|
Deputy General Director |
|
Resident |
|
Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
3.
NAME |
|
Mr.
NGUYEN TRUNG KIEN |
|
Position |
|
Deputy General Director |
|
Resident |
|
Ho Chi
Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
4.
NAME |
|
Ms.
NGUYEN THI THU TRANG |
|
Position |
|
Chief Accountant |
|
Resident |
|
Ho
Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
Manufacture of pharmaceuticals, medicinal
chemical and botanical products
Wholesale of other household products
Manufacture of soap and detergents, cleaning
and polishing preparations
Wholesale of other machinery and equipment
n.e.c
Wholesale of food
Wholesale on a fee or contract basis
Manufacture of plastics products
Manufacture of glass and glass products
Manufacture of corrugated paper and paperboard
and of containers of paper and paperboard
Printing
Real estate activities with own or leased property
Manufacture of other food products n.e.c.
|
IMPORT: |
||
|
·
Types of products |
|
Products, materials |
|
·
Market |
|
China, Singapore, EU, Thailand |
|
|
||
|
EXPORT: N/A |
||
|
VIET
NAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE BINH TAN BRANCH |
||
|
Address |
|
No.9, Plot C Street, Tan Tao
Industrial Park, Binh Tan District, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 37542193 |
|
1.
NAME |
|
Ms.
NGUYEN THI THU TRANG |
|
ID Number/Passport |
|
024805080 |
|
Resident |
|
No.134/B32, To Hien Thanh Street, Ward 15,
District 10, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 3,000,000,000 |
|
Percentage |
|
10% |
|
|
||
|
2.
NAME |
|
Mr.
NGUYEN VAN HAN |
|
ID Number/Passport |
|
024302501 |
|
Resident |
|
No. 134/B32, To Hien Thanh Street, Ward
15, District 10, Ho Chi Minh City,
Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 3,000,000,000 |
|
Percentage |
|
10% |
|
|
||
|
3.
NAME |
|
Mr.
TRAN DAM SAN |
|
Position |
|
Chairman |
|
Date of Birth |
|
01 Jan 1959 |
|
ID Number/Passport |
|
022634905 |
|
Issued on |
|
02 Nov 2000 |
|
Issued Place |
|
Police Station of Ho Chi Minh City |
|
Resident |
|
No. 155/24C, To Hien Thanh Street, Ward
13, District 10, Ho Chi Minh City,
Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 16,000,000,000 |
|
Percentage |
|
53.33% |
|
|
||
|
4.
NAME |
|
Ms.
TRAN THI HA |
|
ID Number/Passport |
|
024079067 |
|
Resident |
|
No. 138B/11, To Hien Thanh Street, Ward
15, District 10, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 3,500,000,000 |
|
Percentage |
|
11.67% |
|
|
||
|
5.
NAME |
|
Mr.
TRAN VAN TUYEN |
|
ID Number/Passport |
|
111440635 |
|
Resident |
|
No. 210/14, Ha Dac Street, Trung My Tay
Ward, District 12, Ho Chi Minh City,
Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 1,500,000,000 |
|
Percentage |
|
5% |
|
|
||
|
6.
NAME |
|
Mr.
TRAN SON ANH |
|
ID Number/Passport |
|
024303838 |
|
Resident |
|
No. 155/24, Lot C, To Hien Thanh Street, Ward
13, District 10, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 3,000,000,000 |
|
Percentage |
|
10% |
|
BALANCE
SHEET |
|
Unit: Million VND
|
|
|
Balance sheet
date |
31/12/2009 |
|
Number of weeks |
52 |
ASSETS
|
|
|
A. Current Asset
|
26,331 |
|
Receivables |
6,929 |
|
Inventory |
17,345 |
|
Cash and other current assets |
2,057 |
|
B. Long term
Asset |
27,110 |
|
1. Long term
account receivable |
0 |
|
2. Fixed assets |
27,110 |
|
Tangible fixed assets |
19,771 |
|
+ Original cost |
38,100 |
|
+ Accumulated depreciation value |
-18,329 |
|
Financial leasehold assets |
|
|
Intangible fixed assets |
7,339 |
|
Construction in progress and other long term asset |
|
|
TOTAL ASSETS |
53,441 |
|
|
|
LIABILITIES
|
|
|
Payable loans |
26,377 |
|
Owner’s Equity |
27,064 |
|
TOTAL LIABILITY
AND EQUITY |
53,441 |
|
|
|
PROFIT & LOSS STATEMENT
|
|
|
|
|
|
1. Total Sales |
62,204
|
|
2. Deduction item |
62 |
|
3. Net revenue |
62,142
|
|
4. Costs of goods sold |
53,633 |
|
5. Gross profit |
8,509
|
|
6. Financial income |
27 |
|
7. Financial expenses |
3,607 |
|
8. Selling expenses and Administrative overheads |
3,659 |
|
9. Net operating profit |
1,270
|
|
10. Other income |
183 |
|
11. Other expenses |
39 |
|
12. Other profit /(loss) |
144 |
|
13. Total accounting profit before tax |
1,414
|
|
14. Current corporate income tax |
0 |
|
15. Deferred corporate income tax |
|
|
16. Interest from subsidiaries/related companies |
|
|
17. Profit after tax |
1,414
|
|
Trade Morality |
|
Fair |
|
Liquidity |
|
N/A |
|
Payment status |
|
N/A |
|
Financial Situation |
|
Average |
|
Development trend |
|
Stable |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
Direct or through the bank |
|
Sale Methods |
|
Other |
|
Public opinion |
|
Good |
The subject was
established in 2004 under name N.I.C PHARMACEUTICAL MANUFACTURING – TRADING
COMPANY LIMITED. It is operating under Business Registration No. 0303212966
issued by Business Registration Office – Planning and Investment Department of
Hochiminh City with chartered capital 30,000,000,000. Recently, the subject has just been renamed USA
- NIC PHARMACEUTICAL COMPANY LIMITED.
Head office of the
subject is located at Lot 11D, Road C, Tan Tao Industrial Zone, Tan Tao A Ward,
Binh Tan District, Hochiminh City. It specializes in manufacturing and trading
cosmetic, pharmaceutical products, medical equipment - devices. It mainly
imported products and materials from China, Singapore, Thailand and EU. Its
products only consumed in domestic.
Financial
statements in recent years are not available. Based on financial data in 2009,
revenue was VND 62.2 billion and profit after tax was VND 1.4 billion.
We have an
interview with Ms. Thu Trang – Chief Accountant, business result of the subject
was positive in recent years. However, revenue and profit in 2013 were lower
than 2012. According to our reviews, financial capacity is average. Comparison
with other companies in this field, position of the subject is average.
Management capacity of the subject is normal. Facilities and premise are
average. Currently, the subject has 150 staff.
In general, it has capacity to meet small
financial commitments.
|
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) |
|
|
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 |
|
|
2012 |
2011 |
2010 |
|
Population (Million person) |
88.78 |
87.84 |
86.93 |
|
Gross Domestic Products (USD
billion) |
136 |
119 |
102.2 |
|
GDP Growth (%) |
5.03 |
5.89 |
6.78 |
|
GDP Per Capita
(USD/person/year) |
1,540 |
1,300 |
1,160 |
|
Inflation (% Change in
Composite CPI) |
9.21 |
18.58 |
11.75 |
|
State Budget Deficit compared
with GDP (%) |
4.8 |
4.9 |
5.8 |
|
Billion USD |
2012 |
2011 |
2010 |
|
Exports |
114.6 |
96.3 |
72.2 |
|
Imports |
114.3 |
105.8 |
84.8 |
|
Trade Balance |
0.3 |
-9.5 |
-12.6 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.92 |
|
|
1 |
Rs. 101.98 |
|
Euro |
1 |
Rs. 83.92 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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.