FM-Group-Assignment-TRA-JSC.docx - International University...

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International UniversityVietnam National University HCMCSchool of BusinessGROUP ASSIGNMENT1. Nguyn Nam BìnhMBAIU160052. Phm Nguyn Quc DuyMBAIU160083. Phan Minh LâmMBAIU150644. Nguyn NhMai NguynưMBAIU160215. HHu TínMBAIU16034Instructor: Assoc. Prof. Vo Thi QuyGroup 5 | Financial Management | March 29th, 2017Financia
ABSTRACTWith the development of pharmaceutical industry, the demand for orientalmedicines are increasing rapidly. Traphaco is one of leaders in oriental market. Thisreport is organized to analyze and estimate the real intrinsic value of Traphaco’s stock.To finish this report, financial statements, balance sheets and key financial ratios areused to analyze. Furthermore, the company’s strategies in pharmaceutical industry areclearly analyzed to provide more helpful information for investment decisions.Finally, the estimation of company’s stock value is achieved to compare with thecurrent stock price which could implies suggestions for investors.FINANCIAL MANAGEMENTGROUP 5PAGE | 1
CHAPTER 1: INTRODUCTION1.1. Background of the ResearchAlthough Vietnam’s pharmaceutical industry was formed in 50s of the last century,it is still in the early stage of growth period, which is reflected in high growth ratecompared with the average growth rate of other economic industries in the country andthe world pharmaceutical industry, increasing number of products, great demand to investin technology and product development. Vietnam’ pharmaceutical industry has a highgrowth rate of about 19% per annum. This figure is greater than the GDP growth rate ofVietnam (7% per annum) and the average growth rate of the world pharmaceuticalindustry (7-10% per annum). Regarding to pharmaceuticals on systemic infection, theusage percentage in Vietnam is higher than that in other countries in the region. Thereason for this situation is from the fact that sanitation in Vietnam is weak and the rate ofdisease structure in Vietnam is mainly caused by bacteria. This leads to the fact thatVietnam’s pharmaceutical industry is assessed as one of the most attractive segments forforeign investors as Vietnam’s stock market opens up more to attract foreign investment,but concerns over liquidity and corporate governance remain.Due to the development of education, people are putting much higher awareness onhealthcare. Moreover, scientists have warned about the negative effects of climatechanges, the pollution of current environment, poison foods… which create such extremepressure on people’s lifestyle and health. That’s why there are more and more peoplecomes to the pharmacy to find drugs which effectively cure their illness, obviatedisease… Therefore, when the conditions to access to medicine and pharmaceuticalmarket are improved, the increasing demand of people has created favorable conditionsfor the industry to develop.

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Term
Spring
Professor
N/A
Tags
Business, Financial Ratio, Traphaco

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