MIRA INFORM REPORT

 

 

Report No. :

334590

Report Date :

07.08.2015

 

IDENTIFICATION DETAILS

 

Name :

F.D&C PHARMACEUTICAL CHEMISTRY CO LTD

 

 

Registered Office :

18 St 3 CX Lu Gia Ward 15, District 11, Ho Chi Minh

 

 

Country :

Vietnam

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

16.06.1999

 

 

Legal Form :

Private Company with Limited Liability

 

 

Line of Business :

Trader of Medical Equipment & Pharmaceutical

 

 

No. of Employees :

35

 

 

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Vietnam

A2

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 18% in 2014, while industry's share increased from 36% to 38% 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 2014 growing at 5.4%, one of the slower growth rates since 1999. Exports have grown strongly in 2013-14; 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 has remained relatively stable since then. 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, Hanoi’s progress in meeting its goals is lagging behind its proposed schedule. Vietnam's economy continues to face challenges from an undercapitalized banking sector and non-performing loans weigh heavily on banks and businesses. Vietnam is a member of the 12-nation Trans-Pacific Partnership free trade agreement negotiations.

 

Source : CIA

 

 

REGISTERED NAME & COMPANY SUMMARY

 

Organization Name

:

F.D&C PHARMACEUTICAL CHEMISTRY CO LTD (1)

Address

:

18 St 3 CX Lu Gia Ward 15, District 11, Ho Chi Minh

Country

:

Vietnam

Phone (S)

:

[+84] 8-38688327

Facsimile

:

[+84] 8-38688325

Email

:

fdc@hcm.vnn.vn

Website

:

http://www.fdcpharmachem.vn

Primary Business Activity

:

Trader

Key Industry

:

Medical Equipment & Pharmaceutical

 

Key Facts

Registered Legal Address

:

18 St 3 CX Lu Gia Ward 15, District 11, Ho Chi Minh

Operational Address

:

18 St 3 CX Lu Gia Ward 15, District 11, Ho Chi Minh

Trading Name

:

F.D&C PHARMACHEM

Issuing Authority

:

Dept. of Planning & Investment - Ho Chi Minh

License Number

:

0301750824

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

:

10 Jul, 2012

Employees

:

35

Capital

:

US$ 698,812

PREVIOUS BUSINESS LICENSE/S

 

License Date

License No.

16 Jun, 1999

071538

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

 

Key Person

Legal Title

:

Managing Director

Name

:

Mr. Linh Hu Tran

Nationality

:

Vietnamese

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Ms. Xuan Nga Thi Duong

Vietnamese

Chief Accountant

-

 

Management Details - 1

Personal Unique Identifier

:

MI03610620

Name

:

Ms. Xuan Nga Thi Duong

Date of Birth

:

1975

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03610605

Name

:

Mr. Linh Hu Tran

Date of Birth

:

1959

 

 

NEGATIVE INFORMATION

 

REPUTATION

Reference checking for the purpose of establishing F.D&C PHARMACEUTICAL CHEMISTRY 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

:

₫ 15,000,000,000

Paid-up Capital

:

₫ 15,000,000,000

 

Date

Authorized Capital - History

2011

10,000,000,000

2012

15,000,000,000

 

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. Linh Hu Tran

Vietnam

n/a

10,000,500,000

66.67

2

Ms. Hong Nhat Thi Tran

Vietnam

n/a

4,000,500,000

26.67

3

Ms. Thao Hien Ngoc Doan

Vietnam

n/a

999,000,000

6.66

Total

n/a

15,000,000,000

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

80%

International Sales (Export)

20%

 

Annual Purchases Analysis

Percentage

Local Purchases

10%

Imports

90%

 

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

 

N/a

 

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

Year

Turnover

Assets

Net Income

2011 Annual  

3,440,374

1,948,872

71,723

2012 Annual  

3,386,466

1,930,788

94,023

2013 Annual (*)

3,651,303

1,530,390

221,357

 

Sales Trend – Analysis

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

-

-

-

-

-

-

-

-

http://www.asiancredit.com/Manage/image/down_arrow_04.gif

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

Note: (*)

Financials listed are the most recent available for this company.

 

FINANCIAL STATEMENT – DETAILED

Balance Sheet

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2011 Annual

2012 Annual

2013 Annual

Current Assets(*)

39,432,000,000

38,548,000,000

30,818,000,000

Non Current Assets(*)

1,163,000,000

1,660,000,000

1,455,000,000

Non Current Liabilities(*)

554,000,000

1,044,000,000

-

Share Capital(*)

10,000,000,000

15,000,000,000

15,000,000,000

Other long term assets 

Total Assets(*)

40,595,000,000

40,208,000,000

32,273,000,000

Total Liabilities(*)

27,108,000,000

20,538,000,000

11,197,000,000

Current Liabilities(*)

26,554,000,000

19,494,000,000

11,197,000,000

Long term liabilities 

Shareholders Funds(*)

13,487,000,000

19,670,000,000

21,076,000,000

 

Current Assets & Short Term Investments

39,432,000,000

38,548,000,000

30,818,000,000

Cash & Cash Equivalents

1,425,000,000

2,131,000,000

4,204,000,000

Cash

1,425,000,000

2,131,000,000

4,204,000,000

Accounts Receivable

18,731,000,000

15,433,000,000

11,414,000,000

Others Receivables

-

-

3,000,000

Accounts Receivable Trade

17,445,000,000

15,433,000,000

11,411,000,000

Trade Prepayment

1,286,000,000

-

-

Inventories

19,112,000,000

20,984,000,000

15,192,000,000

Other Short Term Asset

164,000,000

-

8,000,000

Vat Deductible

164,000,000

-

-

Long Term Assets

1,163,000,000

1,660,000,000

1,455,000,000

Accounts Of Long Term Receivable

-

-

36,000,000

Accounts Long Term Receivable Trade

-

-

36,000,000

Fixed Assets

1,163,000,000

1,660,000,000

1,419,000,000

Tangible Fixed Assets

1,136,000,000

1,656,000,000

1,419,000,000

Cost

1,491,000,000

2,257,000,000

2,203,000,000

Accumulated Depreciation

355,000,000

601,000,000

784,000,000

Construction In Progress

27,000,000

4,000,000

-

Total Assets

40,595,000,000

40,208,000,000

32,273,000,000

Liabilities

27,108,000,000

20,538,000,000

11,197,000,000

Current Liabilities

26,554,000,000

19,494,000,000

11,197,000,000

Accounts Payables-Trade

-

-

225,000,000

Advances From Customers

6,231,000,000

1,345,000,000

-

Taxes And Payable To State Budget

2,721,000,000

-

262,000,000

Other Payables / Payable To Employees

(125,000,000)

422,000,000

9,198,000,000

Provision For Short Term Payable

17,727,000,000

17,727,000,000

1,512,000,000

Long Term Liabilities

554,000,000

1,044,000,000

-

Long Term Borrowings

554,000,000

1,044,000,000

-

Owner's Equity

13,487,000,000

19,670,000,000

21,076,000,000

Business Capital

10,000,000,000

15,000,000,000

15,000,000,000

Revaluation Differences

(379,000,000)

(379,000,000)

-

Foreign Exchange Differences

1,694,000,000

3,162,000,000

(379,000,000)

Business Development Funds

2,172,000,000

1,887,000,000

4,568,000,000

Retained Earnings

-

-

1,887,000,000

Total Resources

40,595,000,000

40,208,000,000

32,273,000,000

Note: (*)

Financial Highlights

 

Income Statement

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2011 Annual

2012 Annual

2013 Annual

Turnover(*)

71,663,000,000

70,522,000,000

76,999,000,000

Profit (Loss) Before Tax(*)

1,811,000,000

2,610,000,000

5,187,000,000

Profit After Tax attributable to Shareholders(*)

1,494,000,000

1,958,000,000

4,668,000,000

Gross Sales

71,663,000,000

70,522,000,000

76,999,000,000

Less Deductions

275,000,000

189,000,000

298,000,000

Net Income

71,388,000,000

70,333,000,000

76,701,000,000

Cost Of Goods Sold

62,288,000,000

59,527,000,000

61,837,000,000

Gross Margin

9,100,000,000

10,806,000,000

14,864,000,000

Income From Financial Activities

355,000,000

42,000,000

157,000,000

Expenses From Financial Activities

786,000,000

241,000,000

261,000,000

General & Administration Expenses

6,858,000,000

7,997,000,000

9,671,000,000

Net Income From Operating Activities

1,811,000,000

2,610,000,000

5,089,000,000

Extraordinary income

-

-

98,000,000

Extraordinary gains

-

-

98,000,000

Net Profit Before Tax

1,811,000,000

2,610,000,000

5,187,000,000

Income Tax

317,000,000

652,000,000

519,000,000

Net Profit After Tax

1,494,000,000

1,958,000,000

4,668,000,000

Note: (*)

Financial Highlights

 

Financial Ratios

Financial Highlights

2011 Annual

2012 Annual

2013 Annual

Growth % 

Year-on-Year Growth

-

(1.59)

9.18

Profitability 

Profit Margin (%)

2.08

2.78

6.06

Return on Equity (%)

11.08

9.95

22.15

Return on Assets (%)

3.68

4.87

14.46

Leverage 

Total Debt Equity (Times)

2.01

1.04

0.53

Current Debt Equity (Times)

1.97

0.99

0.53

Long Term Debt to Equity

0.04

0.05

-

Total Asset To Total Equity

3.01

2.04

1.53

Asset Management 

Total Assets Turnover (Times)

1.77

1.75

2.39

Fixed Assets Turnover (Times)

61.62

42.48

52.92

Liquidity 

Current Ratio

1.48

1.98

2.75

Based on the corporate laws of Vietnam, legal entities which are a 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

 

Country

:

Vietnam

Business Entity Name

:

F.D&C PHARMACEUTICAL CHEMISTRY CO LTD

Primary Business Activity

:

Trader

Primary Industry

:

Medical Equipment & Pharmaceutical

Office Contact Details

Operating Address

:

18 St 3 CX Lu Gia Ward 15, District 11, Ho Chi Minh

Tel

:

[+84] 8-38688327

 

:

[+84] 8-38688283

 

:

[+84] 8-38688284

Fax

:

[+84] 8-38688325

Email

:

fdc@hcm.vnn.vn

Website Details

Website

:

http://www.fdcpharmachem.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

:

0301750824

Date of Issuance

:

8 Jul, 1999

 

Primary Products

Products / Materials / Services Description

Activity

Analytical reagents

Trading

Fine chemicals

Trading

Medicines

Trading

Pharmaceutical products

Trading

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Chemical preparations, nspf

2899

Trading

Chemicals and Allied Products

2800

Trading

Drugs/Druggists' Sundries

5122

Trading

Pharmaceutical preparations

2834

Trading

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Medicaments nesoi, mixed or not, in dosage form

3004

Trading

Miscellaneous chemical products

3800

Trading

Pharmaceutical products

3000

Trading

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of F.D&C PHARMACEUTICAL CHEMISTRY CO LTD is Trading - Finished products.

Key products include :

Analytical reagents

Fine chemicals

Medicines

Pharmaceutical products

Supplementary Business

In addition to the core business, F.D&C PHARMACEUTICAL CHEMISTRY CO LTD also is engaged in the following areas of business:

Exporting

Exporting - Finished products

Importing

Importing - Finished products

 

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

 

INTERNATIONAL TRADE - Activity & Markets

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing, Exporting

Europe

Medium

Importing

North America

Medium

Importing

Cambodia

Medium

Exporting

Germany

Medium

Importing

Laos

Medium

Exporting

Malaysia

Medium

Importing

Singapore

Medium

Importing

Spain

Medium

Importing

USA

Medium

Importing

 

OFFICE & FACILITIES

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

Name

:

F.D&C PHARMACEUTICAL CHEMISTRY CO LTD - DISTRICT 11, HO CHI MINH

Primary Use

:

Office & Administration facilities

Employees

:

35

Address

:

18 St 3 CX Lu Gia Ward 15, District 11, Ho Chi Minh

Country

:

Vietnam

Status

:

Operational

 

 

NOTES & COMMENTS

 

N/a

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.76

UK Pound

1

Rs.99.60

Euro

1

Rs.69.71

 

INFORMATION DETAILS

 

Analysis Done by :

KAS

 

 

Report Prepared by :

VNT

 

               

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.