MIRA INFORM REPORT

Report Date :

08.01.2007

IDENTIFICATION DETAILS

Name :	THANH VINH COCONUT PROCESSING FACTORY
Registered Office :	Lot CN7 8743Ha, Nuoc Thai Industrial Zone, Thuan Dien Hamlet, An Hiep Village, Chau Thanh Dist, Ben Tre Province
Country :	Vietnam
Date of Incorporation :	2006
Legal Form :	Branch of Sole Proprietorship Enterprise
Line of Business :	Producing dried coconut flesh.

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 :	New Company
Payment Behaviour :	No Complaints
Litigation :	Unknown

SUBJECT IDENTIFICATION & LEGAL FORM
English Name	THANH VINH COCONUT PROCESSING FACTORY
Vietnamese name	NHA MAY CHE BIEN DUA THANH VINH
Trade Name	THANH VINH COCONUT PROCESSING FACTORY
Type of Business	Branch of Sole Proprietorship Enterprise
Founded	2006
Business Registration	5511000292
Date of Issuance	March 2^nd 2006
Place of Issuance	Planning and Investment Department of Ben Tre Province
Tax Code	1300230895-001
Total Employees	100 employees
Qualification	Average
Note: 1. The given name” THANVINH FACTORY” is not exact name of the subject. Its right name is stated above. 2. The subject is operating as a branch of LUONG QUOI OIL PRESSING PRIVARTE ENTERPRISE. Following is some information about this enterprise:
English Name	LUONG QUOI OIL PRESSING PRIVATE ENTERPRISE
Vietnamese name	DOANH NGHIEP TU NHAN EP DAU LUONG QUOI
Trade Name	LUONG QUOI OIL PRESSING PRIVATE ENTERPRISE
Type of Business	Sole Proprietorship Enterprise
Founded	1997
Business Registration	No. 009880
Date of Issuance	September 12^th 1997
Place of Issuance	Planning and Investment Department of Ben Tre Province
Registered Capital	5,900,000,000 VND
Tax Code	1300230895
Director- Owner	Mr. Cu Van Thanh
Main Business	Processing oil from coconut.
Address	Hamlet No.1, Luong Quoi Village, Giong Trom Dist, Ben Tre Province
ADDRESS
Head Office
Address	Lot CN7 8743Ha, Nuoc Thai Industrial Zone, Thuan Dien Hamlet, An Hiep Village, Chau Thanh Dist, Ben Tre Province
Country	Vietnam
Tel	(84-75) 626316-626314
Fax	(84-75) 626315
Email	thanhvinhfactory@yahoo.com
DIRECTORS
1. NAME	Mr. CU VAN THANH
Position	Director
Date of birth	April 4^th 1961
ID No.	320475658
Issued on	November 6^th 2003
Issued by	Police Station of Ben Tre Province
Permanent Resident	71 Nguyen Hue Str, Ward 1, Ben Tre Town, Ben Tre Province
Current Resident	Viet Hong Garment Company Collective Quarter, Ward 8, Ben Tre Town, Ben Tre Province
Nationality	Vietnamese
2. NAME	Mr. NGUYEN BAO TRI
Position	Factory Manager
Resident	Ben Tre Province
Nationality	Vietnamese
Private Tel	++84 909484618
BUSINESS NATURE AND ACTIVITIES
The subject specializes in producing dried coconut flesh.
The subject is registered in business line: Producing, processing products from coconut (dried coconut flesh, coconut oil pressing, cooking oil from coconut)
IMPORT & EXPORT ACTIVITIES
IMPORT: N/A
EXPORT: Products of the subject are exported to EU, Middle East, Japan, USA …
BANKERS
1. BANK OF INVESTMENT DEVELOPMENT OF VIETNAM - BEN TRE BRANCH
Address	21 Dong Khoi Road, Ward 3, Ben Tre Town, Ben Tre Province
Country	Vietnam
Tel	(84-75) 817050
Fax	(84-75) 824964
Swift	BIDVVNVX721
Account No.	721.10370014347
SHAREHOLDERS
The subject is branch of Sole Proprietorship Enterprise. It was 100% owned by its parent company:
Name	LUONG QUOI OIL PRESSING PRIVATE ENTERPRISE
Address	Hamlet No.1, Luong Quoi Village, Giong Trom Dist, Ben Tre Province
Tel	(84-75) 882024
Fax	(84-75) 626315
PAYMENT HISTORY AND EXPERIENCES
Trade Morality	Fair
Liquidity	Average
Previous Payments	N/A
Payment status	Normal
Past Financial Situation	N/A
Current Financial Situation	Average
Litigation Data	No recorded
Bankruptcy	No recorded
Public opinion	Normal
Payment Methods	Direct payment or through its corresponding bank. Foreign remittance by letter of credit (L/C), by telegraphic transfer (T/T).
FINANCIAL DATA
Financial Statement of the subject is not available. According to subject’s director, revenue of the subject in 2006 is about 35 billion VND.
INTERPRETATION ON THE SCORES
Thanh Vinh is operating as a branch of Luong Quoi Oil Pressing Private enterprise. It was established in March 2006 and now specializes in processing dried coconut flesh locating in Nuoc Thai Industrial Zone of Ben Tre Province. Ben Tre is the largest coconut growing area in Vietnam producing 200 million coconuts annually. Because coconut palms bear fruits all year round and generate high economic efficiency, the Thanh Vinh Coconut Processing Factory has been invested to produce high-quality dried coconut flesh using a modern processing line. Thanh Vinh's dried coconut flesh is made from coconut at the age of 11-12 months using a modern, entirely automatic production line that ensures food safety and hygiene. Dried coconut flesh is used for production of food and confectionery and as daily food and can replace animal fat. Production capacity of the subject is about 25-30 tons per day. Its products have been exported widely to Japan, USA, EU, Middle East,…Revenue in the first operation year of Thanh Vinh is about 35 billion VND. Its potential of development is fairly good. Premises and facilities of the subject are fairly standard. Machines and equipment for production are advanced and meet the food safety and hygiene standards. The subject’s products are checked to ensure the chemical, physical and microbiological standards and stable quality of products. Although it has been established for one year, Thanh Vinh coconut products have gained a reputation at home and overseas. For this reason, Thanh Vinh plans to diversify the product range to include fresh coconut milk, coconut milk powder and pure coconut oil to be used as pharmaceutical material. Under the business guideline, "Prestige and Quality are the Engine of Trademark Development", Thanh Vinh is taking steps to establish a niche and a reputation among its customers.

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
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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