MIRA INFORM REPORT

 

 

Report Date :

21.11.2014

 

IDENTIFICATION DETAILS

 

Name :

ORIENT INTERNATIONAL PHARMA CHEMICAL CO LTD

 

 

Registered Office :

7 Alley 39/1 Phao Dai Lang St Lang Thuong Ward, Dong Da, Hanoi

 

 

Country :

Vietnam

 

 

Financials (as on) :

2013

 

 

Date of Incorporation :

06.02.2007

 

 

Legal Form :

Private Company with Limited Liability

 

 

Line of Business :

Trader of Medical Equipment & Pharmaceutical

 

 

No of Employees :

43

 

 

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Vietnam

B1

A2

 

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

 

Company Details

Organization Name

:

ORIENT INTERNATIONAL PHARMA CHEMICAL CO LTD (1)

Address

:

7 Alley 39/1 Phao Dai Lang St Lang Thuong Ward, Dong Da, Hanoi

Country

:

Vietnam

Phone (S)

:

[+84] 4-37756595

Facsimile

:

[+84] 4-37753427

Email

:

hoaduoc@oipc.com.vn

Website

:

http://hoaduoc.com.vn

Primary Business Activity

:

Trader

Key Industry

:

Medical Equipment & Pharmaceutical

 

Key Facts

Registered Legal Address

:

7 Alley 39/1 Phao Dai Lang St Lang Thuong Ward, Dong Da, Hanoi

Operational Address

:

7 Alley 39/1 Phao Dai Lang St Lang Thuong Ward, Dong Da, Hanoi

Issuing Authority

:

Dept. of Planning & Investment - Hanoi

License Number

:

0102157916

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

:

06 Feb, 2007

Employees

:

43

Capital

:

US$ 949,758

Note

:

(1) Legal status of the English corporate name

The English name of the Subject Business Entity (SBE) is a randomly selected translation / transliteration made by the owners of the SBE. It is not a registered English corporate name, but simply a translation / transliteration of the local language name.

 

 

DIRECTORS/MANAGEMENT

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Ms. Nguyen Kim Dung

Vietnamese

Chief Accountant

-

 

Management Details - 1

Personal Unique Identifier

:

MI03794880

Name

:

Ms. Nguyen Kim Dung

 

Date of Birth

:

1972

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03794874

Name

:

Mr. Dinh Quang Hoan

Date of Birth

:

1980

 

 

NEGATIVE INFORMATION

 

REPUTATION

Reference checking for the purpose of establishing ORIENT INTERNATIONAL PHARMA CHEMICAL 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

 

 

CIVIL 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

:

₫ 20,000,000,000

 

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. Dinh Quang Hoan

Vietnam

n/a

n/a

53.00

2

Mr. Phung Quang Minh

Vietnam

n/a

n/a

38.20

3

Ms. Pham Thi Nhung

Vietnam

n/a

n/a

8.80

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

 

DOMESTIC SALES & PURCHASES

Annual Sales Analysis

Percentage

Domestic Sales

100%

 

Annual Purchases Analysis

Percentage

Local Purchases

80%

Imports

20%

 

PAYMENT TERMS

Selling

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~90 days

 

Purchasing

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~90 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

2011 Annual  

3,836,486

1,372,828

38,790

2012 Annual  

4,790,426

1,955,518

84,227

2013 Annual  

6,042,321

1,845,402

56,145

 

Sales Trend – Analysis

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

-

-

-

-

-

-

-

-

http://www.asiancredit.com/Manage/image/up_arrow_04.gif

http://www.asiancredit.com/Manage/image/up_arrow_04.gif

 

FINANCIAL STATEMENT - DETAILED

Balance Sheet

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2011 Annual

2012 Annual

2013 Annual

Current Assets(*)

25,442,000,000

37,956,000,000

36,180,000,000

Non Current Assets(*)

3,154,000,000

2,767,000,000

2,736,000,000

Non Current Liabilities(*)

0

0

10,000,000,000

Share Capital(*)

3,000,000,000

3,000,000,000

10,000,000,000

Other long term assets 

Total Assets(*)

28,596,000,000

40,723,000,000

38,916,000,000

Total Liabilities(*)

23,102,000,000

34,651,000,000

26,910,000,000

Current Liabilities(*)

23,102,000,000

34,651,000,000

16,910,000,000

Long term liabilities 

Shareholders Funds(*)

5,494,000,000

6,072,000,000

12,006,000,000

 

Current assets & short term investments

25,442,000,000

37,956,000,000

36,180,000,000

Cash & cash equivalents

476,000,000

911,000,000

365,000,000

Cash

476,000,000

911,000,000

365,000,000

Accounts receivable

7,211,000,000

8,993,000,000

10,116,000,000

Accounts receivable trade

7,137,000,000

8,990,000,000

9,907,000,000

Trade prepayment

31,000,000

3,000,000

200,000,000

Others receivables

43,000,000

-

9,000,000

Inventories

17,644,000,000

27,936,000,000

25,442,000,000

Other short term asset

111,000,000

116,000,000

257,000,000

VAT deductible

111,000,000

116,000,000

257,000,000

Long term assets

3,154,000,000

2,767,000,000

2,736,000,000

Fixed assets

3,007,000,000

2,375,000,000

2,120,000,000

Tangible fixed assets

3,007,000,000

2,375,000,000

2,120,000,000

Cost

4,122,000,000

4,380,000,000

3,465,000,000

Accumulated depreciation

1,115,000,000

2,005,000,000

1,345,000,000

Other long term assets

147,000,000

392,000,000

616,000,000

Total assets

28,596,000,000

40,723,000,000

38,916,000,000

Liabilities

23,102,000,000

34,651,000,000

26,910,000,000

Current liabilities

23,102,000,000

34,651,000,000

16,910,000,000

Short term borrowings

14,057,000,000

20,976,000,000

7,578,000,000

Accounts payables-trade

6,883,000,000

11,777,000,000

6,826,000,000

Advances from customers

888,000,000

176,000,000

396,000,000

Taxes and payable to state budget

211,000,000

56,000,000

79,000,000

Payable to employees

393,000,000

703,000,000

538,000,000

Accrued expenses payable

670,000,000

963,000,000

720,000,000

Other payables

-

-

773,000,000

Long term liabilities

-

-

10,000,000,000

Long term borrowings

-

-

10,000,000,000

Owner's equity

5,494,000,000

6,072,000,000

12,006,000,000

Business capital

3,000,000,000

3,000,000,000

10,000,000,000

Other funds from owner's equity

746,000,000

746,000,000

1,370,000,000

Retained earnings

1,748,000,000

2,326,000,000

636,000,000

Total resources

28,596,000,000

40,723,000,000

38,916,000,000

Note: (*)

Financial Highlights

 

Income Statement

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2011 Annual

2012 Annual

2013 Annual

Turnover(*)

79,914,000,000

99,759,000,000

127,421,000,000

Profit (Loss) Before Tax(*)

981,000,000

2,129,000,000

1,518,000,000

Profit After Tax attributable to Shareholders(*)

808,000,000

1,754,000,000

1,184,000,000

 

Gross sales

79,914,000,000

99,759,000,000

127,421,000,000

Net income

79,914,000,000

99,759,000,000

127,421,000,000

Cost of goods sold

67,745,000,000

83,797,000,000

110,015,000,000

Gross margin

12,169,000,000

15,962,000,000

17,406,000,000

Income from financial activities

14,000,000

12,000,000

27,000,000

Expenses from financial activities

2,102,000,000

3,053,000,000

3,399,000,000

In which: Interest expenses

2,102,000,000

3,053,000,000

2,928,000,000

General & administration expenses

9,095,000,000

10,796,000,000

12,292,000,000

Net income from operating activities

986,000,000

2,125,000,000

1,742,000,000

Extraordinary income

0

4,000,000

146,000,000

Extraordinary expenses

5,000,000

0

370,000,000

Extraordinary gains

(5,000,000)

4,000,000

(224,000,000)

Net profit before tax

981,000,000

2,129,000,000

1,518,000,000

Income tax

173,000,000

375,000,000

334,000,000

Net profit after tax

808,000,000

1,754,000,000

1,184,000,000

Note: (*)

Financial Highlights

 

Financial Ratios

Financial Highlights

2011 Annual

2012 Annual

2013 Annual

Growth % 

Year-on-Year Growth

-

24.83

27.73

Profitability 

Profit Margin (%)

1.01

1.76

0.93

Return on Equity (%)

14.71

28.89

9.86

Return on Assets (%)

2.83

4.31

3.04

Leverage 

Total Debt Equity (Times)

4.20

5.71

2.24

Current Debt Equity (Times)

4.20

5.71

1.41

Long Term Debt to Equity

-

-

0.83

Total Asset To Total Equity

5.20

6.71

3.24

Asset Management 

Total Assets Turnover (Times)

2.79

2.45

3.27

Fixed Assets Turnover (Times)

25.34

36.05

46.57

Liquidity 

Current Ratio

1.10

1.10

2.14

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 basic 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

 

Report Details

 

 

Country

:

Vietnam

Business Entity Name

:

ORIENT INTERNATIONAL PHARMA CHEMICAL CO LTD

Acronym

:

OIPC

Primary Business Activity

:

Trader

Primary Industry

:

Medical Equipment & Pharmaceutical

Office Contact Details

Operating Address

:

7 Alley 39/1 Phao Dai Lang St Lang Thuong Ward, Dong Da, Hanoi

Tel

:

[+84] 4-37756595

Fax

:

[+84] 4-37753427

Email

:

hoaduoc@oipc.com.vn
phuongdongpharma@fpt.vn

Website Details

Website

:

http://hoaduoc.com.vn

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

:

0102157916

 

Primary Products

Products / Materials / Services Description

Activity

Drugs

Importing, Trading

Food ingredients

Importing, Trading

Pharmaceutical products

Importing, Trading

Pharmaceutical raw materials

Importing, Trading

Veterinary raw materials

Importing, Trading

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Drugs/Druggists' Sundries

5122

Importing, Trading

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

3004909090

Importing, Trading

Other drugs,nesoi

2934302700

Importing, Trading

Other medicaments not elsewhere specified or included for veterinary use

3004909003

Importing, Trading

Pharmaceutical products

3000

Importing, Trading

Provitamins and vitamins & derivatives & intermixs

2936

Importing, Trading

 

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

Products / Materials / Services Description

Ranking

Activity

Vitamins

Primary

Importing, Trading

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of ORIENT INTERNATIONAL PHARMA CHEMICAL CO LTD is Trading - Finished products.

Key products include :

·         Drugs

·         Food ingredients

·         Pharmaceutical products

·         Pharmaceutical raw materials

·         Veterinary raw materials

·         Vitamins

 

Supplementary Business

In addition to the core business, ORIENT INTERNATIONAL PHARMA CHEMICAL CO LTD also is engaged in the following areas of business:

1. Importing

·         Importing - Finished products

 

BANK DETAILS

Bank Name

:

JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM

Global Identifier

:

P1072025

Branch

:

Hanoi

Branch Address

:

HA TAY

SWIFT Code

:

BFTVVNVX

 

Bank Name

:

VIET CAPITAL COMMERCIAL JOINT STOCK BANK

Global Identifier

:

P2231961

Branch

:

District 1,Ho Chi Minh

Branch Address

:

HANOI

SWIFT Code

:

VCBCVNVX

 

LOCAL BRANCHES & MANAGEMENT

Branch

:

ORIENT INTERNATIONAL PHARMA CHEMICAL CO LTD - DISTRICT 10, HO CHI MINH

Branch Address

:

243/3 To Hien Thanh St Ward 13, District 10, Ho Chi Minh

 

 

INTERNATIONAL TRADE - Activity & Markets

 

 

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing

China

Medium

Importing

India

Medium

Importing

 

OFFICE & FACILITIES

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

Name

:

ORIENT INTERNATIONAL PHARMA CHEMICAL CO LTD - DONG DA, HANOI

Primary Use

:

Office & Administration facilities

Address

:

7 Alley 39/1 Phao Dai Lang St Lang Thuong Ward, Dong Da, Hanoi

Country

:

Vietnam

Status

:

Operational

 

WAREHOUSING FACILITIES

Name

:

ORIENT INTERNATIONAL PHARMA CHEMICAL CO LTD - HA DONG, HANOI

Address

:

Phu Lam Clean Industrial Zone, Ha Dong, Hanoi

Country

:

Vietnam

Other Use

:

Office & Administration

Status

:

Operational

 

 

PREVIOUS BUSINESS LICENSE/S

License Date

License No.

6 Feb, 2007

0102029784

 

 

 

 

NOTES & COMMENTS

 

N/a

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.10

UK Pound

1

Rs.97.32

Euro

1

Rs.77.91                        

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

SMN

 

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.