MIRA INFORM REPORT

Report Date :

28^th June 2006

IDENTIFICATION DETAILS

Name :	TEXTILE PARTS AND MACHINERIES JOINT STOCK COMPANY
Registered Office :	P1-A10, Mai Dong Ward, Hoang Mai Dist, Hanoi City
Country :	Viet Nam
Date of Incorporation :	2004
Com. Reg. No.:	0103005677
Legal Form :	Joint Stock Company
Line of Business :	Importers and traders of equipments, raw materials of textile industry, Traders of chemicals, dyes, other fibres of textile industry

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	Small

Status :	Moderate
Payment Behaviour :	Regular
Litigation :	Clear

SUBJECT IDENTIFICATION & LEGAL FORM
English name		TEXTILE PARTS AND MACHINERIES JOINT STOCK COMPANY
Vietnamese name		CONG TY CO PHAN MAY VA PHU TUNG NGANH DET MAY
Abbreviation name		TEXPARTS., JSC
Foundation		2004
Type of business		Joint Stock Company
Business registration		No. 0103005677
Date of Issuance		October 19^th, 2004
Place of Issuance		Ha Noi Department of Planning and Investment
Registered capital		2,000,000,000 VND
Total employees		9 Employees
Qualification		Fairly Good
ADDRESSES
Head Office
Address		P1-A10, Mai Dong Ward, Hoang Mai Dist, Hanoi City
Country		Vietnam
Tel		(84-4) 6333848
Fax		(84-4) 6333858
Email		texpartshn@fpt.vn
Representative office in Hochiminh City
Address		No. 368/7-0-3, Building 358/7 Phan Van Tri Road, Ward 5, Vo Gap Dist, Hochiminh City
Tel		(84-8) 4464072
Fax		(84-8) 4463318
Email		texpartshcm@fpt.vn
Chief of representative office		NGUYEN QUANG KHAI
DIRECTORS
1. NAME			Mr. NGUYEN CHI HIEU
Position			Managing Director
Qualification			Textile professional Bachelor of Polytechnic College
ID No.			011669885
Issued on			September 8^th, 2003
Issued by			Hanoi Police Station
Resident			P1 - A10, Mai Dong Ward, Hoang Mai Dist, Hanoi City
Nationality			Vietnamese
Hand phone			++84 903446158
2. NAME			NGUYEN QUANG KHAI
Position			Deputy Director
Qualification			Bachelor of Polytechnic College
Resident			No. 57N plot 18, Ha Long Ward, Nam Dinh City, Nam Dinh Province
Nationality			Vietnamese
BUSINESS NATURE AND ACTIVITIES
The subject is specializing in Import and trade in equipments, raw materials of textile industry, Trading in chemicals, dyes, other fibres of textile industry
Besides, the Subject registered in other activities: Trading in pottery, porcelain, handicraft, … Civil, traffic, industrial construction works Investment consultancy Trading in goods agency and goods consignment
IMPORT & EXPORT ACTIVITIES
IMPORT: The Subject imports goods, equipments, raw materials from Japan, Italy, India, Korea, Taiwan and China
EXPORT: The subject does not export. It only supplies commodities for domestic market.
BANKERS
1. INDUSTRIAL AND COMMERCIAL BANK OF VIETNAM (INCOMBANK)–HAI BA TRUNG BRANCH
Address	No. 285 Tran Khat Chan Str, Hai Ba Trung Dist, Hanoi City
Tel	(84-8) 9718251
Website	www.icb.com.vn
Subject’s account No	102010000045869
2. BANK FOR FOREIGN TRADE OF VIETNAM (VIETCOMBANK) – THANH CONG BRANCH
Address	No. 30-32 Lang Ha Str, Hanoi City
Tel	(84-4) 7761762
Fax	(84-4) 7761747
Website	www.vietcombank.com.vn
Account No	0021370551596
SHAREHOLDERS
1. NAME	Mr. NGUYEN CHI HIEU
Position	Managing Director
ID No.	011669885
Issued by	Hanoi Police Station
Resident	P1 – A10, Mai Dong Ward, Hoang Mai Ward, Hanoi City
Nationality	Vietnamese
Share	50 Percent
Value	1,000,000,000 VND
2. NAME	Mrs. NGUYEN THI LE HANG
Position	Shareholder
Resident	B402, Vien May Nong Cu collective zone, Lang Ha Ward, Dong Da Dist, Hanoi City
Nationality	Vietnamese
Share	25 Percent
Value	500,000,000 VND
3. NAME	Mr. NGUYEN QUANG KHAI
Position	Deputy Director and Chief of representative office in Hochiminh City
Resident	No. 57N Plot 18, Ha Long Ward, Nam Dinh City, Nam Dinh Province
Nationality	Vietnamese
Share	25 Percent
Value	500,000,000 VND
PAYMENT HISTORY AND EXPERIENCES
Trade Morality	AVERAGE
Liquidity	AVERAGE
Payment Status	AVERAGE
Financial Situation	AVERAGE
Legal Action	NO RECORDED
Bankruptcy	NO RECORDED
Reputation	NORMAL
Modes of Payment	DIRECT PAYMENT OR THROUGH ITS CORRESPONDING BANK. (L/C) OR (T/T)
Sales methods	DIRECTLY TO CLIENTS
FINANCIAL DATA
The financial data of the subject is not available. According to Mr. Nguyen Chi Hieu – Director of the Subject, annual revenue of the Subject is about 2 million USD.
INTERPRETATION ON THE SCORES
THE SUBJECT IS A JOINT STOCK COMPANY. IT WAS ESTABLISHED AT THE END OF 2004 WITH THE REGISTERED CAPITAL OF 2 BILLION VND. THE HEAD OFFICE OF THE SUBJECT IS LOCATED AT P1-A10, MAI DONG WARD, HOAN KIEM DIST, HANOI CITY. THIS ADDRESS IS ALSO THE PRIVATE HOUSE OF MR. NGUYEN CHI HIEU’S FAMILY – MANAGING DIRECTOR OF THE SUBJECT. BESIDES, THE SUBJECT HAS A REPRESENTATIVE OFFICE IN HOCHIMINH CITY. AT PRESENT, THE SUBJECT HAS ABOUT 7 MAIN STAFFS WORKING AT COMPANY AND 2 OTHER AUXILIARY EMPLOYEES. THE SUBJECT IS NOW SPECIALIZING IN IMPORT AND TRADING IN EQUIPMENTS, RAW MATERIALS OF TEXTILE INDUSTRY; TRADING IN CHEMICALS, DYES, OTHER FIBRES OF TEXTILE INDUSTRY. MOST OF THIS GOODS AND EQUIPMENTS ARE IMPORTED FROM JAPAN, INDIA, ITALY, KOREA AND OTHER FOREIGN COUNTRIES. AFTER THAT, THESE SOURCES ARE DISTRIBUTED TO VIETNAM’S MARKET. AT THE MOMENT, THE SUBJECT IS OPERATING RATHER EFFECTIVELY. MR. NGUYEN CHI HIEU – DIRECTOR OF THE SUBJECT, A BACHELOR IN TEXTILE PROFESSIONAL OF VIETNAM POLYTECHNIC COLLEGE, HAS MANY RELATIONSHIP IN THIS FIELD. THE SUBJECT’S PREMISES AND FACILITIES IS AVERAGE. ITS SCALE AND OPERATION ẢRE MEDIUM. THE POSITION OF THE SUBJECT IN THE INDUSTRY IS AVERAGE. IN OVERVIEW, THE SUBJECT IS AN AVERAGE SCALE ENTERPRISE. THE FINANCIAL SITUATION OF THE SUBJECT IS NOT VERY SAFE FOR CREDITORS. THE SUBJECT IS CAPABLE TO MEET FINANCIAL COMMITMENTS BUT CAUTION NEEDED FOR NORMAL AND BIG BUSINESS TRANSACTIONS.
END OF REPORT

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	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	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

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