MIRA INFORM REPORT

 

 

Report Date :

27.11.2014

 

IDENTIFICATION DETAILS

 

Name :

CAT KHANH CO LTD

 

 

Registered Office :

Group 7 Chi Dong Town, Me Linh, Hanoi

 

 

Country :

Vietnam

 

 

Financials (as on) :

December 2013

 

 

Date of Incorporation :

11.08.2011

 

 

Legal Form :

Private Company with Limited Liability

 

 

Line of Business :

Manufacturer of Artemisinin, Essential Oils & Pharmaceutical Products

 

 

No of Employees :

20

 

 

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

:

CAT KHANH CO LTD (1)

Address

:

Group 7 Chi Dong Town, Me Linh, Hanoi

Country

:

Vietnam

Phone (S)

:

[+84] 4-38134003

Facsimile

:

[+84] 4-35251137

Email

:

info@catkhanh.com

Website

:

http://www.catkhanh.com

Primary Business Activity

:

Manufacturer of Artemisinin, Essential Oils & Pharmaceutical Products

 

Key Facts

 

Registered Legal Address

:

Group 7 Chi Dong Town, Me Linh, Hanoi

 

Operational Address

:

Group 7 Chi Dong Town, Me Linh, Hanoi

 

Issuing Authority

:

Dept. of Planning & Investment - Hanoi

 

License Number

:

2500235109

 

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

:

11 Aug, 2011

 

Employees

:

20

 

Capital

:

US$ 142,464

 

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.

 

 

Report Details

 

 

Country

:

Vietnam

Business Entity Name

:

CAT KHANH CO LTD

Primary Business Activity

:

Manufacturer of Artemisinin, Essential Oils & Pharmaceutical Products

Office Contact Details

Operating Address

:

Group 7 Chi Dong Town, Me Linh, Hanoi

Tel

:

[+84] 4-38134003

Fax

:

[+84] 4-35251137

Email

:

info@catkhanh.com

Factory Contact Details

Address

:

Quang Minh Industrial Zone, Me Linh, Hanoi

Website Details

Website

:

http://www.catkhanh.com

Status

:

Normal - operational

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

:

2500235109

 

DIRECTORS/MANAGEMENT

 

 

COMPANY MANAGEMENT

 

 

 

Management Listings

 

 

Name

Nationality

Job Description

Dept. / Division

1

Ms. Ngo Thi Hong Nhung

Vietnamese

Chief Accountant

-

 

 

Management Details - 1

Personal Unique Identifier

:

MI03797456

Name

:

Ms. Ngo Thi Hong Nhung

 

Date of Birth

:

1982

 

COMPANY DIRECTORS

 

1

 

 

Personal Unique Identifier

:

MI03797453

Name

:

Mr. Ngo Tien Lam

Date of Birth

:

1954

 

NEGATIVE INFORMATION

 

 

REPUTATION

 

Reference checking for the purpose of establishing CAT KHANH 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

:

₫ 3,000,000,000

 

Date

Authorized Capital - History

13 Jan, 2005

1,500,000,000

11 Aug, 2011

3,000,000,000

 

 

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. Ngo Tien Lam

Vietnam

n/a

n/a

80.00

2

Ms. Ngo Thi Hong Nhung

Vietnam

n/a

n/a

20.00

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

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

 

Year

Sales

Assets

Net Income

2011 Annual  

2,482,861

375,372

64,906

2012 Annual  

2,212,713

1,831,338

221,900

2013 Annual  

5,634,697

1,171,941

237,717

 

Sales Trend – Analysis

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

-

-

-

-

-

-

-

-

 

 

FINANCIAL STATEMENT - DETAILED

 

Balance Sheet

 

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

 

Financial Highlights

2011 Annual

2012 Annual

2013 Annual

Current Assets(*)

4,779,000,000

35,191,000,000

21,114,000,000

Non Current Assets(*)

3,040,000,000

2,946,000,000

3,600,000,000

Non Current Liabilities(*)

0

0

0

Share Capital(*)

1,400,000,000

3,000,000,000

3,000,000,000

Other long term assets 

Total Assets(*)

7,819,000,000

38,137,000,000

24,714,000,000

Total Liabilities(*)

5,249,000,000

30,480,000,000

18,347,000,000

Current Liabilities(*)

5,249,000,000

30,480,000,000

18,347,000,000

Long term liabilities 

Shareholders Funds(*)

2,570,000,000

7,657,000,000

6,367,000,000

 

Current assets & short term investments

4,779,000,000

35,191,000,000

21,114,000,000

Cash & cash equivalents

1,637,000,000

3,550,000,000

2,792,000,000

Cash

-

244,000,000

-

Cash equivalents

1,637,000,000

3,306,000,000

2,792,000,000

Accounts receivable

230,000,000

24,795,000,000

16,269,000,000

Accounts receivable trade

125,000,000

24,765,000,000

16,269,000,000

Trade prepayment

105,000,000

-

-

Other receivables

-

30,000,000

20,000,000

Inventories

2,861,000,000

5,364,000,000

1,171,000,000

I. Other short term asset

51,000,000

1,482,000,000

882,000,000

Prepaid expenses

-

60,000,000

-

VAT deductible

-

1,398,000,000

766,000,000

Other tax receivables

3,000,000

-

-

II. Other short term asset

48,000,000

24,000,000

116,000,000

Long term assets

3,040,000,000

2,946,000,000

3,600,000,000

Fixed assets

3,040,000,000

2,946,000,000

3,120,000,000

Tangible fixed assets

3,006,000,000

2,946,000,000

3,120,000,000

Cost

4,444,000,000

4,665,000,000

5,272,000,000

Accumulated depreciation

1,438,000,000

1,719,000,000

2,152,000,000

Other long term assets

-

-

480,000,000

Construction in progress

34,000,000

-

-

Total assets

7,819,000,000

38,137,000,000

24,714,000,000

Liabilities

5,249,000,000

30,480,000,000

18,347,000,000

Current liabilities

5,249,000,000

30,480,000,000

18,347,000,000

Short term borrowings

2,450,000,000

29,964,000,000

17,095,000,000

Accounts payables-trade

2,457,000,000

-

272,000,000

Advances from customer

336,000,000

-

-

Taxes and payable to state budget

6,000,000

-

413,000,000

Other payables

-

-

567,000,000

Bonus and welfare funds

-

516,000,000

-

Owners equity

2,570,000,000

7,657,000,000

6,367,000,000

Bussiness capital

1,400,000,000

3,000,000,000

3,000,000,000

Retained earnings

1,170,000,000

4,657,000,000

3,367,000,000

Total resources

7,819,000,000

38,137,000,000

24,714,000,000

 

Note: (*)

 

Financial Highlights

 

 

Income Statement

 

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

 

Financial Highlights

2011 Annual

2012 Annual

2013 Annual

Turnover(*)

51,718,000,000

46,079,000,000

118,825,000,000

Profit (Loss) Before Tax(*)

1,352,000,000

4,996,000,000

5,826,000,000

Profit After Tax attributable to Shareholders(*)

1,352,000,000

4,621,000,000

5,013,000,000

 

Gross sales

51,718,000,000

46,079,000,000

118,825,000,000

Less deductions

-

32,000,000

-

Net income

51,718,000,000

46,047,000,000

118,825,000,000

Cost of goods sold

46,265,000,000

39,168,000,000

107,054,000,000

Gross margin

5,453,000,000

6,879,000,000

11,771,000,000

Income from financial activities

5,000,000

21,000,000

23,000,000

Expenses from financial activities

2,123,000,000

522,000,000

1,285,000,000

In which: Interest expenses

2,050,000,000

522,000,000

1,156,000,000

Selling expenses

-

-

1,453,000,000

General & administration expenses

1,989,000,000

1,382,000,000

3,230,000,000

Net income from operating activities

1,346,000,000

4,996,000,000

5,826,000,000

Extraordinary income

6,000,000

-

-

Extraordinary gains

6,000,000

-

-

Net profit before tax

1,352,000,000

4,996,000,000

5,826,000,000

Income tax

-

375,000,000

813,000,000

Net profit after tax

1,352,000,000

4,621,000,000

5,013,000,000

 

Note: (*)

 

Financial Highlights

 

 

Financial Ratios

 

Financial Highlights

2011 Annual

2012 Annual

2013 Annual

Growth % 

Year-on-Year Growth

-

(10.90)

157.87

Profitability 

Profit Margin (%)

2.61

10.03

4.22

Return on Equity (%)

52.61

60.35

78.73

Return on Assets (%)

17.29

12.12

20.28

Leverage 

Total Debt Equity (Times)

2.04

3.98

2.88

Current Debt Equity (Times)

2.04

3.98

2.88

Total Asset To Total Equity

3.04

4.98

3.88

Asset Management 

Total Assets Turnover (Times)

6.61

1.21

4.81

Fixed Assets Turnover (Times)

17.01

15.64

33.01

Liquidity 

Current Ratio

0.91

1.15

1.15

 

 

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

 

Primary Products

Products / Materials / Services Description

Activity

Artemisinin

Manufacturing, Exporting

Essential oils

Manufacturing, Exporting

Pharmaceutical products

Manufacturing, Exporting

 

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Product/Service Description

Code

Activity

Pharmaceutical preparations

2834

Manufacturing, Exporting

 

 

 

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

 

 

 

Product/Service Description

Code

Activity

Essential oils; resinoids; terpenic by-products etc

3301

Manufacturing, Exporting

Pharmaceutical products

3000

Manufacturing, Exporting

 

 

 

 

CORE BUSINESS DESCRIPTION

 

 

 

Core Business

 

The primary business focus of CAT KHANH CO LTD is Manufacturing - Finished products.

Key products include :

·                     Essential oils

·                     Pharmaceutical products

·                     Artemisinin


An integral part of the core business includes:

·                     Distribution

 

 

 

Supplementary Business

 

In addition to the core business, CAT KHANH CO LTD also is engaged in the following areas of business:

1.                  Exporting

·                     Exporting - Finished products

2.                  Importing

·                     Importing - Raw materials

 

 

 

DOMESTIC SALES & PURCHASES

 

 

 

Annual Sales Analysis

Percentage

Domestic Sales

80%

International Sales (Export)

20%

 

 

 

 

Annual Purchases Analysis

Percentage

Local Purchases

60%

Imports

40%

 

 

 

 

BANK DETAILS

 

 

 

Bank Name

:

JOINT STOCK COMMERCIAL BANK FOR INVESTMENT & DEVELOPMENT OF VIETNAM

Global Identifier

:

32400483

Branch

:

Hoan Kiem Dist,Hanoi

Branch Address

:

JOINT STOCK COMMERCIAL BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM, TAY HANOI

SWIFT Code

:

BIDVVNVX

 

Bank Name

:

VIETNAM TECHNOLOGICAL & COMMERCIAL JOINT STOCK BANK

Global Identifier

:

32408999

Branch

:

Hoan Kiem Dist,Hanoi

Branch Address

:

VIETNAM TECHNOLOGICAL

SWIFT Code

:

VTCBVNVX

 

 

 

INTERNATIONAL TRADE - Activity & Markets

 

 

 

 

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing, Exporting

China

Medium

Importing

India

Medium

Exporting

 

 

 

 

FACTORIES, SIZE, & LOCATIONS

 

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

 

Address

:

Quang Minh Industrial Zone, Me Linh, Hanoi

 

 

 

 

PREVIOUS BUSINESS LICENSE/S

 

 

 

License Date

License No.

13 Jan, 2005

1902000659

24 Sep, 2008

0102035962

 

 

 

 

REAL ESTATE OWNERSHIP

 

 

 

The following property / ies are owned by CAT KHANH CO LTD :

 

 

 

Property Name

:

CAT KHANH CO LTD - ME LINH, HANOI

Type of Property

:

Office & Administration

Address

:

Group 7 Chi Dong Town, Me Linh, Hanoi

Office Size

:

80 Square meters

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.87

UK Pound

1

Rs.97.23

Euro

1

Rs.77.21

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

MNL

 

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.