MIRA INFORM REPORT

 

 

Report Date :

07.03.2014

 

IDENTIFICATION DETAILS

 

Name :

RUBY CO LTD

 

 

Registered Office :

268 Huynh Van Banh Street, Phu Nhuan District, Ho Chi Minh City

 

 

Country :

Vietnam

 

 

Financials (as on) :

2012

 

 

Date of Incorporation :

06.02.1999

 

 

Legal Form :

Private Company with Limited Liability

 

 

Line of Business :

Importer of Medical Equipment & Pharmaceutical

 

 

No. of Employees :

90

 

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 – 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 20% in 2013, while industry's share increased from 36% to more than 42% in the same period. State-owned enterprises account for about 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 2013 growing at 5%, the slowest rate of growth since 1999. In 2013, however, exports increased by more than 12%, 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 relatively stable in 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 has been made. Vietnam's economy continues to face challenges from an undercapitalized banking sector. Non-performing loans weigh heavily on banks and businesses

 

Source : CIA

 

 

 

 

REGISTERED NAME & COMPANY SUMMARY

 

Organization Name

:

RUBY CO LTD

Address

:

80 Ha Huy Giap St Thanh Loc Ward, District 1, Ho Chi Minh

Country

:

Vietnam

Phone (S)

:

[+84] 8-37168888

Facsimile

:

[+84] 8-37162100

Email

:

rubyco@hcm.vnn.vn

Primary Business Activity

:

Importer

Key Industry

:

Medical Equipment & Pharmaceutical

 

Registered Legal Address

:

268 Huynh Van Banh St Ward 11, Phu Nhuan, Ho Chi Minh

Operational Address

:

80 Ha Huy Giap St Thanh Loc Ward, District 1, Ho Chi Minh

Issuing Authority

:

Dept. of Planning & Investment - Ho Chi Minh

License Number

:

070859

License Status

:

License exists – Normal.

Legal Form - Category

:

Private Company with Limited Liability

Legal Form

:

Company Limited

Legal Form - Abbreviation

:

CO LTD

Operational Status of Business

:

Normal

Date of Registration

:

6 Feb, 1999

Employees

:

90

Capital

:

US$ 4,200,477

 

 

 

DIRECTORS/MANAGEMENT

 

Key Person

Legal Title

:

Chief Executive Officer - CEO

Name

:

Mr. Cao Van Trieu

Nationality

:

Vietnamese

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Ms. Le Thi Hong

Vietnamese

Deputy Managing Director

-

2

Mr. Cao Thanh Ngoc

Vietnamese

Deputy Managing Director

-

3

Ms. Tran Kim Xuan Nha

Vietnamese

Deputy Managing Director

-

4

Mr. Cao Van Trieu

Vietnamese

Managing Director

-

 

Management Details - 1

Personal Unique Identifier

:

MI01845767

Name

:

Ms. Le Thi Hong

 

Date of Birth

:

1950

 

Management Details - 2

Personal Unique Identifier

:

MI01845766

Name

:

Mr. Cao Thanh Ngoc

 

Date of Birth

:

1977

 

Management Details - 3

Personal Unique Identifier

:

MI03634927

Name

:

Ms. Tran Kim Xuan Nha

 

Date of Birth

:

1985

 

Management Details - 4

Personal Unique Identifier

:

MI01845760

Name

:

Mr. Cao Van Trieu

 

Date of Birth

:

1950

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI01845760

Name

:

Mr. Cao Van Trieu

Date of Birth

:

1950

Nationality

:

Vietnamese

 

 

NEGATIVE INFORMATION

 

REPUTATION

Reference checking for the purpose of establishing the RUBY CO LTD's reputation within the respective industry failed to reveal any adverse 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)

Authorized Capital

:

88,000,000,000

Paid-up Capital

:

50,000,000,000

 

Date

Authorized Capital - History

6 Feb, 1999

50,000,000,000

Sep, 2013

88,000,000,000

 

 

SHAREHOLDERS

 

Total number of shareholders

:

2

Total number of shares

:

n/a

 

Currency

:

VND - Vietnam Dong

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

Mr. Cao Van Trieu

Vietnam

n/a

30,000,000,000

60.00

2

Mr. Cao Thanh Ngoc

Vietnam

n/a

20,000,000,000

40.00

Total

n/a

50,000,000,000

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

 

DOMESTIC SALES & PURCHASES

Annual Sales Analysis

Percentage

Domestic Sales

100%

 

 

Annual Purchases Analysis

Percentage

Local Purchases

40%

Imports

60%

 

 

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

 

N/a

 

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

Year

Sales

Assets

Net Income

2010 Annual  

34,621,344

11,136,942

1,424,269

2011 Annual  

35,293,039

14,910,754

942,679

2012 Annual (*)

36,508,495

12,852,119

640,203

 

Sales Trend – Analysis

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

-

-

-

-

-

-

-

Note: (*)

Financials listed are the most recent available for this company.

 

FINANCIALS - SUMMARY (Currency: USD - US Dollar)

Year

Sales

Assets

Net Income

2006 Annual

15,845,445

5,335,798

228,167

 

FINANCIAL STATEMENT - DETAILED

Balance Sheet

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2010 Annual

2011 Annual

2012 Annual

Current Assets

160,984,000,000

246,538,000,000

195,610,000,000

Non Current Assets

56,075,000,000

64,053,000,000

72,031,000,000

Non Current Liabilities

12,442,000,000

11,772,000,000

-

Share Capital

50,000,000,000

50,000,000,000

50,000,000,000

Total Reserves

-

-

-

Other long term assets 

Total Assets

217,059,000,000

310,591,000,000

267,641,000,000

Total Liabilities

147,273,000,000

226,276,000,000

175,735,000,000

Current Liabilities

134,831,000,000

214,504,000,000

175,735,000,000

Long term liabilities 

Shareholders Funds

69,786,000,000

84,315,000,000

91,906,000,000

 

Assets 

Current assets & short term investments

-

246,538,000,000

195,610,000,000

Cash & cash equivalents

-

13,600,000,000

10,112,000,000

Cash

-

13,600,000,000

10,112,000,000

Accounts receivable

-

128,356,000,000

82,037,000,000

Accounts receivable trade

-

126,995,000,000

83,069,000,000

Trade prepayment

-

1,361,000,000

-

Provision for bad debts

-

-

(1,032,000,000)

i.Inventories

-

89,607,000,000

98,830,000,000

ii.Inventories

-

89,607,000,000

99,792,000,000

Provision for decline in inventory

-

-

(962,000,000)

i.Other short term asset

-

14,975,000,000

4,631,000,000

VAT deductible

-

-

1,800,000,000

ii.Other short term asset

-

14,975,000,000

2,831,000,000

Long term assets

-

64,053,000,000

72,031,000,000

Fixed assets

-

55,515,000,000

64,070,000,000

Tangible fixed assets

-

8,767,000,000

15,710,000,000

i.Cost

-

15,149,000,000

23,875,000,000

i.Accumulated depreciation

-

6,382,000,000

8,165,000,000

Intangible fixed assets

-

41,707,000,000

45,147,000,000

ii.Cost

-

44,310,000,000

46,975,000,000

ii.Accumulated depreciation

-

2,603,000,000

1,828,000,000

Construction in progress

-

5,041,000,000

3,213,000,000

Long term investments

-

778,000,000

778,000,000

Other long term investments

-

778,000,000

778,000,000

Other long term assets

-

7,760,000,000

7,183,000,000

Long term prepayments

-

7,760,000,000

7,183,000,000

Total assets

-

310,591,000,000

267,641,000,000

LIabilities & Owner's equity 

Liabilities

-

226,276,000,000

175,735,000,000

Current liabilities

-

214,504,000,000

175,735,000,000

Short term borrowings

-

188,635,000,000

166,553,000,000

Accounts payables-trade

-

17,254,000,000

2,756,000,000

Advances from customers

-

1,496,000,000

-

Taxes and payable to state budget

-

5,478,000,000

2,806,000,000

Payable to employees

-

1,637,000,000

3,106,000,000

Accrued expenses payable

-

4,000,000

8,000,000

Inter company payable

-

-

506,000,000

Long term liabilities

-

11,772,000,000

-

Long term borrowings

-

11,772,000,000

-

Owner's equity

-

84,315,000,000

91,906,000,000

Business capital

-

50,000,000,000

50,000,000,000

Retained earnings

-

34,315,000,000

41,906,000,000

Total resources

-

310,591,000,000

267,641,000,000

 

Income Statement

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2010 Annual

2011 Annual

2012 Annual

Turnover

674,770,000,000

735,154,000,000

760,277,000,000

Profit (Loss) Before Tax

37,012,000,000

24,260,000,000

16,160,000,000

Profit After Tax attributable to Shareholders

27,759,000,000

19,636,000,000

13,332,000,000

 

Gross sales

-

735,154,000,000

760,277,000,000

Less deductions

-

2,886,000,000

853,000,000

Net income

-

732,268,000,000

759,424,000,000

Cost of goods sold

-

639,182,000,000

681,448,000,000

Gross margin

-

93,086,000,000

77,976,000,000

Income from financial activities

-

3,170,000,000

55,000,000

Expenses from financial activities

-

44,027,000,000

29,753,000,000

In which: Interest expenses

-

33,002,000,000

29,753,000,000

Selling expenses

-

11,424,000,000

11,286,000,000

General & administration expenses

-

13,947,000,000

17,287,000,000

Net income from operating activities

-

26,858,000,000

19,705,000,000

Extraordinary income

-

1,213,000,000

48,000,000

Extraordinary expenses

-

3,811,000,000

3,593,000,000

Extraordinary gains

-

(2,598,000,000)

(3,545,000,000)

Net profit before tax

-

24,260,000,000

16,160,000,000

Income tax

-

4,624,000,000

2,828,000,000

Net profit after tax

-

19,636,000,000

13,332,000,000

 

Financial Ratios

Financial Highlights

2010 Annual

2011 Annual

2012 Annual

Growth % 

Year-on-Year Growth

-

8.95

3.42

Profitability 

Profit Margin (%)

-

2.67

1.75

Return on Equity (%)

-

23.29

14.51

Return on Assets (%)

-

6.32

4.98

Leverage 

Total Debt Equity (Times)

-

2.68

1.91

Current Debt Equity (Times)

-

2.54

1.91

Long Term Debt to Equity

-

0.14

-

Total Asset To Total Equity

-

3.68

2.91

Asset Management 

Total Assets Turnover (Times)

-

2.37

2.84

Fixed Assets Turnover (Times)

-

11.48

10.55

Liquidity 

Current Ratio

-

1.15

1.11

Based on the corporate laws of Vietnam, legal entities which are Private Company with Limited Liability 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

=

0.000048 USD
United States Dollars

 

 

ADDITIONAL INFORMATION

 

Country

:

Vietnam

Business Entity Name

:

RUBY CO LTD

Primary Business Activity

:

Importer

Primary Industry

:

Medical Equipment & Pharmaceutical

 

Office Contact Details

Operating Address

:

80 Ha Huy Giap St Thanh Loc Ward, District 1, Ho Chi Minh

Tel

:

[+84] 8-37168888

Fax

:

[+84] 8-37162100

Email

:

rubyco@hcm.vnn.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

:

0301636134

 

Primary Products

Products / Materials / Services Description

Activity

Animal medicines

Importing, Trading

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Medical/Dental Equip/Supplies

5047

Importing, Trading

 

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Medicaments containing other antibiotics not elsewhere specified or included, for veterinary use

3004200010

Importing, Trading

Other vaccines for vetrinary medicine

3002390000

Importing, Trading

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of RUBY CO LTD is Importing - Finished products.

Key product include :

Animal medicines


An integral part of the core business includes:

Distribution

 

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 - HO CHI MINH

SWIFT Code

:

BFTVVNVX

 

Bank Name

:

SAI GON THUONG TIN COMMERCIAL JOINT STOCK BANK

Global Identifier

:

P0388625

Branch

:

District 3,Ho Chi Minh

Branch Address

:

SAI GON THUONG TIN COMMERCIAL JOINT STOCK BANK - HOA VIET

SWIFT Code

:

SGTTVNVX

 

Bank Name

:

VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY & TRADE

Global Identifier

:

32404058

Branch

:

Hoan Kiem Dist,Hanoi

Branch Address

:

Hoan Kiem DistHanoi

SWIFT Code

:

ICBVVNVX

 

 

LOCAL BRANCHES & MANAGEMENT

Branch

:

RUBY CO LTD - DISTRICT 12, HO CHI MINH

Branch Address

:

35 Quarter 3 Thanh Loc Ward, District 12, Ho Chi Minh

License Status

:

License exists - Normal.

 

Branch

:

RUBY CO LTD - GO VAP, HO CHI MINH

Branch Address

:

41/1K Quang Trung St Ward 12, Go Vap, Ho Chi Minh

License Status

:

License exists - Normal.

 

Branch

:

RUBY CO LTD - DI AN DIST, BINH DUONG

Branch Address

:

Chieu Lieu Hamlet Tan Dong Hiep Commune, Di An Dist, Binh Duong

License Status

:

License exists - Normal.

 

Branch

:

RUBY CO LTD - TAN UYEN, BINH DUONG

Branch Address

:

Ong Dong Hamlet Tan Hiep Commune, Tan Uyen, Binh Duong

License Status

:

License exists - Normal.

 

Branch

:

RUBY CO LTD - DISTRICT 12, HO CHI MINH

Branch Address

:

35 Ha Huy Giap St Thanh Loc Ward, District 12, Ho Chi Minh

Branch Tel

:

84-8-7162097

Branch Fax

:

84-8-7162100

License Status

:

License exists - Normal.

 

INTERNATIONAL TRADE - Activity & Markets

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing

Europe

Medium

Importing

China

Medium

Importing

Indonesia

Medium

Importing

 

 

COMPETITORS

 

The following is a representative list of local competitors:

Competitors

CANTHO VETERINARY MEDICINE IMPORT EXPORT CO

DOMESCO MEDICAL IMPORT-EXPORT JSC

TIEN THANH VETERINARY CO LTD

 

OFFICE & FACILITIES

The following information relates to the Business Entity's office as listed above:

Name

:

RUBY CO LTD - DISTRICT 1, HO CHI MINH

Primary Use

:

Office & Administration facilities

Address

:

80 Ha Huy Giap St Thanh Loc Ward, District 1, Ho Chi Minh

Country

:

Vietnam

Status

:

Operational

 

WAREHOUSING FACILITIES

Name

:

RUBY CO LTD - DI AN DIST, BINH DUONG

Address

:

Chieu Lieu Hamlet Tan Dong Hiep Ward, Di An Dist, Binh Duong

Country

:

Vietnam

Status

:

Operational

 

 

NOTES & COMMENTS

 

N/a

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.32

UK Pound

1

Rs.102.54

Euro

1

Rs.84.19

 

 

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.