|
|
|
MIRA INFORM REPORT
|
Report No. : |
495440 |
|
Report Date : |
19.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
GLOMED PHARMACEUTICAL CO LTD |
|
|
|
|
Registered Office : |
Vietnam Singaport Industrial
Zone 35 Tu Do Highway An Phu Ward, Thuan An, Binh Duong |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
December, 2016 |
|
|
|
|
Date of Incorporation : |
19.05.2011 |
|
|
|
|
Com. Reg. No.: |
3700754914 |
|
|
|
|
Legal Form : |
Company Limited |
|
|
|
|
Line of Business : |
Subject is engaged in Wholesale of
pharmaceutical goods. |
|
|
|
|
No. of Employees : |
700 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
Vietnam |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
VIETNAM - ECONOMIC OVERVIEW
Vietnam is a densely populated developing country that has been transitioning since 1986 from the rigidities of a centrally planned, highly agrarian economy to a more industrial and market based economy, and it has raised incomes substantially. In 2016 and 2017, Vietnam missed its yearly growth target of 6.7% due to environmental issues – drought and salinization - impacting the agricultural sector, and low oil prices affecting the extractive sector. However, annual GDP growth reached 6.3%, reflecting strengthening domestic demand and strong manufacturing exports.
Vietnam has a young population, stable political system, commitment to sustainable growth, relatively low inflation, stable currency, strong FDI inflows, and strong manufacturing sector. In addition, the country is committed to continuing its global economic integration. Vietnam joined the WTO in January 2007 and concluded several free trade agreements in 2015-16, including the EU-Vietnam Free Trade Agreement, the Korean Free Trade Agreement, and the Eurasian Economic Union Free Trade Agreement. In 2017, Vietnam successfully chaired the Asia-Pacific Economic Cooperation (APEC) Conference with its key priorities including inclusive growth, innovation, strengthening small and medium enterprises, food security and climate change. Seeking to diversify its opportunities, Vietnam also continued to pursue other multilateral relationships, including the Comprehensive and Progressive Agreement for the Transpacific Partnership and the Regional Comprehensive Economic Partnership.
To continue its trajectory of strong economic growth, the government acknowledges the need to spark a second wave’ of reforms, including reforming state-owned-enterprises, reducing red tape, increasing business sector transparency, reducing the level of non-performing loans in the banking sector, and increasing financial sector transparency. Vietnam’s public debt to GDP ratio is nearing the government mandated ceiling of 65%.
In 2016, Vietnam cancelled its civilian nuclear energy development program, citing public concerns about safety and the high cost of the program; it faces growing pressure on energy infrastructure. Overall, the country’s infrastructure fails to meet the needs of an expanding middle class. Vietnam has demonstrated a commitment to sustainable growth over the last several years, but the recent slowdown in economic growth could test the government’s resolve.
|
Source
: CIA |
Company
Summary
|
Business
Name |
GLOMED |
|
Country |
VIET
NAM |
|
Company
Registration Number |
3700754914 |
|
Main
Activity Code |
4646 |
|
Main
Activity Description |
Wholesale
of pharmaceutical goods |
|
Company
Status |
Normal
(Active) |
|
Latest
Turnover Figure |
- |
|
Latest
Shareholder Equity Figure |
451.172.000.000 |
Basic
Information
|
Business Name GLOMED |
|
Registered Company Name GLOMED
PHARMACEUTICAL CO LTD |
|
Company Registration Number 3700754914 |
|
Country VIET NAM |
|
VAT Registration Number 3700754914 |
|
VAT Registration Date 2006-10-27 |
|
Date
of Company Registration 2011-05-19 |
|
Date
of Starting Operations 2011-05-19 |
|
Commercial
Court |
|
Legal Form Company
Limited |
|
Type of Ownership Registered ownership by Subject Business Entity |
|
Company Status Normal
(Active) |
|
Principal
Activity Code |
|
Principal
Activity Description |
|
Contact Telephone Number [+84]
650-3768823 [+84] 650-3768825 [+84] 650-3768826 |
Main
Address
|
Address |
Country |
Telephone |
|
Vietnam Singaport Industrial Zone 35 Tu Do Highway An Phu Ward, Thuan An, Binh Duong |
VIET
NAM |
[+84]
650-3768823 [+84] 650- 3768825
[+84] 650-3768826 |
Other
Address
|
Address Country Telephone |
|
29A Tu Do Blvd VSIP I, Thuan
An, Binh Duong VIET NAM |
Previous
Address
|
Address Country |
|
No
previous addresses for this company. |
Activities
|
Activity Code Activity Description |
|
4646 Wholesale of pharmaceutical goods |
Email
Addresses
Web
Pages
Employee
Information
|
Date Reported Number of Employees |
|
2018 700 |
Banker
Information
|
Banker Name Banker
Address Phone Number |
|
No
banker information for this company. |
Advisors
Information
|
Auditor Name Solicitor Name |
|
No
advisor information for this company. |
Miscellaneous
Information
|
Fax
Number |
[+84]
650-3769094 [+84] 650-3769095 |
|
Export
Countries |
Asia
/ Pacific, Cambodia, Myanmar |
|
Import
Countries |
Asia
/ Pacific, Europe, China, Germany, Japan, Singapore |
|
Additional
Business Information |
Core Business: The primary business
focus of GLOMED PHARMACEUTICAL CO
LTD is Manufacturing - Finished products.
Key products include: Anti-fungals, Anti-virals, Antibiotics,
Anticonvulsants, Antihistamine, Antipyretic analgesics, Cardiovascular,
Cardiovascular drugs, Cephalosporin antibiotics, Cough & cold products, Dermatologicals, Erectile dysfunction medicines, Gastrointestinal, Medicine, Muscle relaxants,
Osteoporosis drugs, Pharmaceutical products, Vitamins & minerals, An
integral part of the core business includes: Distribution, Supplementary
Business In addition to the core business, GLOMED
PHARMACEUTICAL CO LTD also
is engaged in the following areas
of business: 1. xporting, Exporting -
Finished products, Importing, Importing - Raw materials, |
|
Additional
Payment Information |
Selling Type; Local Terms: Cash on delivery (COD), Credit - Unsecured
30~60 days. Type: Export Terms: Telegraphic Transfer (T/T) - Received at time of transaction, Letter
of Credit (At-sight) Purchasing Type;
Import Terms; Letter
of Credit (At-sight), Telegraphic Transfer (T/T)
- Executed at time of transaction |
|
Additional
Financial Information |
Financial
Statements were prepared as at 31.12.16, 31.12.15 and 31.12.14. 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. |
|
Number
of Employees at Address |
700 |
|
Number
of Employees at Group |
|
|
Number
of Employees at Factory |
|
Additional
Miscellaneous Information
|
Name
in Local Language |
CÔNG
TY TRÁCH NHIỆM HỮU HẠN DƯỢC PHẨM GLOMED. |
|
Primary
Business Activity |
Manufacturer. |
|
Issuing
Authority |
DEPT.
OF PLANNING & INVESTMENT - Binh Duong. |
|
Legal
Form - Category |
Private
Company with Limited Liability |
|
Legal
Form – Abbreviation |
CO
LTD |
|
Capital |
US$
13,802,890 |
|
Note |
(1)
In Vietnam, when changes occur in the statutory records of an existing
company, a new business license number is issued which links the new changes to
a new license number. Such changes have occurred with the Subject Business
Entity. Accordingly, there are two different "Dates of
Registration", one being the original Date of Registration, and the
other being the most recent Date of issuance of the new License. Details of
the various previous License dates (if available) and the corresponding
License numbers, are listed in PREVIOUS BUSINESS LICENSE/S below. |
|
Tax
Issuing Authority |
MINISTRY
OF FINANCE |
|
Previous
Business License/ |
License
Date, License No. 17 Oct, 2006: 4603000275. |
|
Primary Products
(Products / Materials Anti-fungals: Manufacturing, Exporting, Anti-virals: Manufacturing,
Exporting, Antibiotics: Manufacturing, / Services Description; Activity) Exporting, Anticonvulsants: Manufacturing,
Exporting, Antihistamine: anufacturing, Exporting. |
|
|
Domestic
Sales and Purchases (Annual Domestic Sales: 12%, International Sales
(Export): 88%, Imports: 100%. Sales
Analysis; Percentage) (Annual Purchases Analysis; Percentage) |
|
|
Capital
(Date; Authorized Capital - History) |
17
Oct, 2006: 120,000,000,000, 25 Aug, 2016: 313,618,500,000. |
|
Reputation |
Reference checking for the purpose of
establishing GLOMED PHARMACEUTICAL CO
LTD's reputation within the respective
industry failed to reveal any adverse information. |
|
Nega-Scan
- Adverse Data Monitoring |
DISHONORED CHECKS: DEBT: CIVIL LITIGATION:
PERFORMANCE DEFAULTS: ADVERSE LOCAL MEDIA COVERAGE / ADVERSE FILING HISTORY: No Record Found |
|
Local
Branches and Management |
Branch:
GLOMED PHARMACEUTICAL CO LTD - THANH XUAN, HANOI, Branch Address: 36 Lane 111 Nguyen
Xien St, Thanh Xuan, Hanoi, Branch Tel: 84-4-35577429, Branch Fax:
84-4-35577431, Branch: GLOMED
PHARMACEUTICAL CO LTD - NHA
TRANG, KHANH HOA, Branch Address: 91 Hong Bang St Tan Lap Ward, Nha Trang, Khanh Hoa, Branch: GLOMED
PHARMACEUTICAL CO LTD
- THANH KHE, DA
NANG, Branch Address: 53 Ly Thai Tong St
Thanh Khe Tay Ward, Thanh Khe, Da Nang, Branch Tel: 84-511- 3814799, Branch Fax: 84-511-3760864,
Branch: GLOMED PHARMACEUTICAL CO LTD - CAI
RANG DIST, CAN THO, Branch Address: 48 St A3 Hung Phu 1 Residential Area Hung Phu Ward,
Cai Rang Dist, Can Tho, ranch Tel :
84-710-3737283, Branch Fax:
84-710-3737280, Branch: GLOMED
PHARMACEUTICAL CO LTD - DISTRICT 1, HO CHI MINH,
Branch Address: 1308, 13Fl Me
Linh Point Tower 02 Ngo Duc Ke
St, District 1, Ho Chi Minh,
Branch Tel: 84-8-38230339, Branch Fax: 84-8-38230340, Branch: GLOMED PHARMACEUTICAL CO LTD - NHA TRANG, KHANH HOA, Branch Address: Lot STH 20, 15 St 13 Le Hong Phong II Urban Area Phuoc Hai Ward, Nha Trang, Khanh Hoa, Branch Tel: 84-58-3511869, Branch Fax: 84-
58-3511875. |
|
Factories,
Size, and Locations |
Name: GLOMED PHARMACEUTICAL CO LTD - THUAN AN, BINH DUONG, Address: 29A Tu Do Blvd
VSIP I, Thuan An, Binh Duong, Status: Operational, Name: GLOMED
PHARMACEUTICAL CO LTD - THUAN AN, BINH DUONG,
Address: 35 Tu Do Blvd VSIP I,
Thuan An, Binh Duong, Statu: Operational, |
|
Office
and Facilities |
Name:
GLOMED PHARMACEUTICAL CO LTD - THUAN AN, BINH DUONG, Primary Use: Office
& Administration facilities , Address: Vietnam
Singaport Industrial Zone 35 Tu Do Highway
An Phu Ward, Thuan An, Binh Duong,
Countr: Vietnam, Status: Operational. |
Financials
|
Financial
Year |
2016-12 |
2015-12 |
2014-12 |
|
Number
of Weeks |
52 |
52 |
52 |
|
Currency |
VND |
VND |
VND |
|
Consolidated
Accounts |
No |
No |
No |
Profit and Loss
|
Revenue |
485.932.000.000 |
487.661.000.000 |
414.067.000.000 |
|
Operating
Costs |
263.036.000.000 |
243.315.000.000 |
205.295.000.000 |
|
Operating
Profit |
222.896.000.000 |
244.346.000.000 |
208.772.000.000 |
|
Wages
& Salaries |
- |
- |
- |
|
Pension
Costs |
- |
- |
- |
|
Depreciation |
- |
- |
- |
|
Amortisation |
- |
- |
- |
|
Financial
Income |
2.165.000.000 |
3.045.000.000 |
2.093.000.000 |
|
Financial
Expenses |
13.133.000.000 |
20.658.000.000 |
19.122.000.000 |
|
Extraordinary
Income |
2.042.000.000 |
1.424.000.000 |
2.815.000.000 |
|
Extraordinary
Costs |
155.878.000.000 |
165.215.000.000 |
117.594.000.000 |
|
Profit
before Tax |
58.092.000.000 |
62.942.000.000 |
76.964.000.000 |
|
Tax |
5.072.000.000 |
5.874.000.000 |
6.949.000.000 |
|
Profit
after Tax |
53.019.000.000 |
57.068.000.000 |
70.015.000.000 |
|
Dividends |
- |
- |
- |
|
Minority
Interests |
- |
- |
- |
|
Other
Appropriations |
- |
- |
- |
|
Retained
Profit |
53.019.000.000 |
57.068.000.000 |
70.015.000.000 |
Balance Sheet
|
Land
& Buildings |
0 |
0 |
0 |
|
Plant
& Machinery |
0 |
0 |
0 |
|
Other
Tangible Assets |
0 |
0 |
0 |
|
Total
Tangible Assets |
110.198.000.000 |
128.130.000.000 |
107.035.000.000 |
|
Goodwill |
0 |
0 |
0 |
|
Other
Intangible Assets |
0 |
0 |
0 |
|
Total
Intangible Assets |
649.000.000 |
1.108.000.000 |
0 |
|
Investments |
0 |
0 |
0 |
|
Loans
to Group |
0 |
0 |
0 |
|
Other
Loans |
0 |
0 |
0 |
|
Miscellaneous
Fixed Assets |
9.501.000.000 |
15.496.000.000 |
34.415.000.000 |
|
Total
Other Fixed Assets |
9.501.000.000 |
15.496.000.000 |
34.415.000.000 |
|
Total
Fixed Assets |
120.348.000.000 |
144.734.000.000 |
141.450.000.000 |
|
Raw
Materials |
0 |
0 |
0 |
|
Work
in Progress |
0 |
0 |
0 |
|
Finished
Goods |
0 |
0 |
0 |
|
Other
Inventories |
0 |
0 |
0 |
|
Total
Inventories |
123.886.000.000 |
172.253.000.000 |
123.247.000.000 |
|
Trade
Receivables |
27.403.000.000 |
99.472.000.000 |
116.576.000.000 |
|
Group
Receivables |
0 |
0 |
0 |
|
Receivables
Due after 1 year |
0 |
0 |
0 |
|
Miscellaneous
Receivables |
227.355.000.000 |
41.411.000.000 |
28.270.000.000 |
|
Total
Receivables |
254.758.000.000 |
140.883.000.000 |
144.846.000.000 |
|
Cash |
0 |
0 |
0 |
|
Other
Current Assets |
0 |
0 |
0 |
|
Total
Current Assets |
378.644.000.000 |
313.136.000.000 |
268.093.000.000 |
|
Total
Assets |
498.992.000.000 |
457.870.000.000 |
409.543.000.000 |
|
Trade
Payables |
34.867.000.000 |
24.706.000.000 |
25.408.000.000 |
|
Bank
Liabilities |
0 |
0 |
0 |
|
Other
Loans or Finance |
0 |
175.606.000.000 |
154.472.000.000 |
|
Group
Payables |
0 |
0 |
0 |
|
Miscellaneous
Liabilities |
12.953.000.000 |
21.018.000.000 |
20.095.000.000 |
|
Total
Current Liabilities |
47.820.000.000 |
221.330.000.000 |
199.975.000.000 |
|
Trade
Payables After 1 Year |
0 |
0 |
0 |
|
Bank
Liabilities After 1 Year |
0 |
0 |
0 |
|
Other
Loans or Finance due after 1 year |
0 |
11.239.000.000 |
15.317.000.000 |
|
Group
Payables After 1 Year |
0 |
0 |
0 |
|
Miscellaneous
Liabilities Due After 1 Year |
0 |
2.388.000.000 |
2.388.000.000 |
|
Total
Long Term Liabilities |
0 |
13.627.000.000 |
17.705.000.000 |
|
Total
Liabilities |
47.820.000.000 |
234.957.000.000 |
217.680.000.000 |
|
Called
Up Share Capital |
313.619.000.000 |
120.000.000.000 |
120.000.000.000 |
|
Share
Premium |
0 |
0 |
0 |
|
Revenue
Reserves |
137.554.000.000 |
102.913.000.000 |
71.863.000.000 |
|
Other
Reserves |
0 |
0 |
0 |
|
Total
Shareholders Equity |
451.172.000.000 |
222.913.000.000 |
191.863.000.000 |
Other
Financials
|
Contingent
Liabilities |
|||
|
Working
Capital |
330.824.000.000 |
91.806.000.000 |
68.118.000.000 |
|
Net
Worth |
450.523.000.000 |
221.805.000.000 |
0 |
Ratios
|
Pre Tax
Profit Margin |
11.95 |
12.91 |
18.59 |
|
Return
On Capital Employed |
|
26.61 |
36.73 |
|
Return
On Total Assets Employed |
11.64 |
13.75 |
18.79 |
|
Return
On Net Assets Employed |
12.88 |
28.24 |
40.11 |
|
Sales
/ Net Working Capital |
1.47 |
5.31 |
6.08 |
|
Stock
Turnover Ratio |
25.49 |
35.32 |
29.76 |
|
Debtor
Days |
20.58 |
74.45 |
102.76 |
|
Creditor
Days |
26.19 |
18.49 |
22.4 |
|
Current
Ratio |
7.92 |
1.41 |
1.34 |
|
Liquidity
Ratio Or Acid Test |
5.33 |
0.64 |
0.72 |
|
Current
Debt Ratio |
0.11 |
0.99 |
1.04 |
|
Gearing |
|||
|
Equity
In Percentage |
90.53 |
48.8 |
|
|
Total
Debt Ratio |
0.11 |
1.05 |
1.13 |
Additional
Financials
|
Gross
Profit |
Current
Directors
|
Name |
Gender |
Address |
Date
of Birth |
Position |
|
Huy
Van Ngo |
Male |
|
1969-01-01 |
Managing
Director |
|
Phuoc
Cong Hoang |
Male |
|
|
Chief
Accountant |
Previous
Directors
|
Name |
Gender |
Address |
Date
of Birth |
Position |
Resignation
Date |
|
No
previous directors for this company. |
|||||
Share
Capital Structure
|
Nominal Share Capital 313.618.500.000 |
|
Issued Share Capital 313.618.500.000 |
Shareholders
|
Shareholder Address % Shares Held |
|
ABBOTT INVESTMENTS LUXEMBOURG SARL 100 |
Ultimate
Holding Parent
|
Name |
Type |
OfficeType |
Status |
RegistrationNumber |
VatNumber |
Address |
PhoneNumber |
|
ABBOTT INVESTMENTS LUXEMBOURG SARL |
Active |
P3161674 |
26
Blvd Royal Luxembourg
24449 |
||||
Immediate
Holding Parent
|
Name |
Status |
Registration
Number |
Address |
|
ABBOTT
LABORATORIES |
Active |
P0009226 |
100
Abbott Park Rd Abbott Park Illinois 60064 |
Subsidaries
|
Name Status Registration Address Number |
|
No
subsidaries for this company. |
Affiliates
|
Name Status Registration Address Number |
|
No
affiliates for this company. |
Negative
Information
|
No
negative information for this company |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.87 |
|
|
1 |
INR 90.48 |
|
Euro |
1 |
INR 79.48 |
|
VND |
1 |
INR 0.0029 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DNS |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.