MIRA INFORM REPORT

Report Date :

17.01.2007

IDENTIFICATION DETAILS

Name :	GIANG KIEU SERVICES & TRADING LIMITED COMPANY
Registered Office :	55/21 Tran Dinh Xu St, Cau Kho Ward, Dist 1, Hochiminh city
Country :	Vietnam
Date of Incorporation :	2001
Legal Form :	Limited Liability Company
Line of Business :	Specializing in electric power distribution and control solution; supplying switchboard’s components and accessories and protection relay, analog meter, current transformer, motorized transfer switch.

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 :	Usually correct
Litigation :	Clear

SUBJECT IDENTIFICATION & LEGAL FORM
English Name	GIANG KIEU SERVICES & TRADING LIMITED COMPANY
Vietnamese name	CONG TY TNHH DICH VU THUONG MAI GIANG KIEU
Trade Name	GIANG KIEU CO LTD
Type of Business	Limited Liability company
Founded	2001
Business Registration	No.4102004741
Date of Issuance	April 26^th 2001
Place of Issuance	Planning & Investment Department of Hochiminh city
Registered Capital	1,200,000,000 VND
Tax Code	0302288440
Total Employees	9 employees
Qualification	Normal
ADDRESS
Head Office & Showroom
Current Address	55/21 Tran Dinh Xu St, Cau Kho Ward, Dist 1, Hochiminh city
Former address	9 Dang Thi Nhu St, Nguyen Thai Binh Ward, Dist 1, Hochiminh city
Country	Vietnam
Tel	(84-8) 9206804
Fax	(84-8) 9206806
Email	hleng@hcm.vnn.vn
Note: The subject has moved to current address in July 2006. The former address of the subject is the warehouse now.
Warehouse
Current Address	9 Dang Thi Nhu St, Nguyen Thai Binh Ward, Dist 1, Hochiminh city
Country	Vietnam
Tel	(84-8) 8251540
DIRECTORS
1. NAME	Ms. QUACH CHAU GIANG
Position	Director
Date of birth	July 8^th 1975
Identity Card	280558889
Issued on	July 5^th 2000
Resident	5/49 Quarter 6, Tuong Binh Hiep Commune, Thu Dau Mot Down Town, Binh Duong Province
Nationality	Vietnamese
Cell phone	++84908 031 427
Note: Ms. Quach Chau Giang is on her days’ leave. So the temporary Director now is her sister, Ms. Quach Dong Giang.
2. NAME	Ms. QUACH DONG GIANG
Position	Temporary Director
Contact address	55/21 Tran Dinh Xu St, Cau Kho Ward, Dist 1, Hochiminh city
Nationality	Vietnamese
3. NAME	Mr. ENG HAN LIANG
Position	Deputy Director
Contact address	55/21 Tran Dinh Xu Str, Cau Kho Ward, Dist 1, Hochiminh city
Nationality	Chinese
BUSINESS NATURE AND ACTIVITIES
The subject is specializing in electric power distribution and control solution; supplying switchboard’s components and accessories and protection relay, analog meter, current transformer, motorized transfer switch.
The subject registered in the following lines of business: ü Installing electricity component. Computer network. ü Trading in material electricity, equipment, board, machinery, garment, agro-aqua products. Interior decoration, ü Building about low potential and medium potential. ü Manufacture, maintenance, installing electricity distribution system, camera, anti –thief system, fire alarm, and fight fire equipment.
IMPORT & EXPORT ACTIVITIES
IMPORT: The subject imports products from Singapore, Malaysia, Taiwan, and Japan.
EXPORT: N/A
BANKERS
1. BANK FOR INVESTMENT & DEVELOPMENT OF VIETNAM- HCM CITY BRANCH
Address	134 Nguyen Cong Tru Str, Dist 1, Hochiminh city
Country	Vietnam
Tel	(84-8) 8230125, 8297384
Fax	(84-8) 8298862
Swift	BIDVVNVX310
Account No	31010370005965
2. VIETNAM BANK FOR FOREIGN TRADE (VIETCOMBANK)
Address	29 Ben Chuong Duong Str, Dist 1, Hochiminh City
Country	Vietnam
Tel	(84-8) 8251317
Fax	(84-8) 8297228
Telex	811234/5 VVB-VT
Swift	BFTVVBVX 007
SHAREHOLDERS
1. Name	Ms. QUACH CHAU GIANG
Position	Chairman/ Director
Date of birth	July 8^th 1975
Identity Card	280558889
Issued on	July 5^th 2000
Resident	5/49 Quarter 6, Tuong Binh Hiep Commune, Thu Dau Mot Down Town, Binh Duong Province.
Nationality	Vietnamese
Share	90%
Value	1,080,000,000 VND
2. Name	Ms. QUACH HA GIANG
Position	Share holder
Resident	5/49 Quarter 6, Tuong Binh Hiep Commune, Thu Dau Mot Down Town, Binh Duong Province
Nationality	Vietnamese
Share	10%
Value	120,000,000 VND
Note: Ms. Quach Ha Giang is younger sister of Ms. Quach Chau Giang.
PAYMENT HISTORY AND EXPERIENCES
Trade Morality	Normal
Liquidity	Above average
Previous Payments	Normal
Payment status	Normal
Past Financial Situation	Average
Current Financial Situation	Average
Litigation Data	No recorded
Bankruptcy	No recorded
Public opinion	Humble
Payment Methods	TT, TTR or L/C
FINANCIAL DATA
The subject’s balance sheet is not available. Following is its financial highlight:
Total asset in 2005	2,513,000,000 VND
Total revenue in 2005	5,939,000,000 VND
Unit: 1,000,000 VND
Description		2004	2003
Current assets & Short term Investment		2,408	1,201
Fixed assets and long-term investment		8	35
Total Assets		2,416	1,236
Payable		1,700	314
Owner’s Equity		716	922
Total Liability and Equity		2,416	1,236
Total Revenue		5,554	4,456
Deduction items		-	-
Net Revenue		5,554	4,456
Net Income From business Activities		54	28
Net Income From Financial Operation		3	-
Irregular Profit		9	-
Total pre-tax Profit		66	28
INTERPRETATION ON THE SCORES
Giang Kieu Co, Ltd is a private limited company. It was founded in 2001 with the registered capital of 1.2 billion VND. It is specializing in electric power distribution and control solution, supplying in Switchboard’s components and accessories…Most products are imported from Singapore and some countries in Asia, with brand name ABB (Europe), IDEC (Japan, Taiwan), KASUGA (JAPAN), SOCOMEC (FRANCE), RUDOLF (SINGAPORE), CROMPTON GREAVE (India),, BROYCE CONTROL (United Kingdom). These products are used in electricity industries in inland. But the most developed and well consumed products now are protection relay, analog meter, current transformer with brand name Mun-Hen (Malaysia). In recent years, the subject has carried out many projects in Hochiminh city like Saigon Trade center Department, Saigon Metropolitan Department, Sheraton Hotel, Saigon Beer Corporation, Shell gas Corporation, Hansae Amata Company, and others projects Phu Lam Plastic Company (Hai Phong province), Hon Tre Island project (Khanh Hoa Province). The showroom-head office is also the private house of the subject’s director, Ms. Quach Chau Giang. It is a bright place and seems not busy, located in an alley at District 1, the center of Hochiminh city. In general, the financial capacity of the subject is normal. There is no litigation data or bad debt loan reported from its bank. However, caution needed for any big transaction with the subject in this moment. The subject still has potential risk in this field when the competition in domestic market is more severe.

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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