MIRA INFORM REPORT

Report Date :

18.12.2008

IDENTIFICATION DETAILS

Name :	T&T CHEMICAL COMPANY LIMITED
Registered Office :	No. 150 Quan Thanh Str., Quan Thanh ward, Ba Dinh Dist., Hanoi City
Country :	Vietnam
Year of Establishment :	2005
Com. Reg. No.:	0102023515
Legal Form :	Liability Limited Company
Line of Business :	Trading in Chemicals, Materials for many Industries such as Printing, Rubber, Paint, Dyeing and Garment

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.	Small

Status :	Small Company
Payment Behaviour :	No Complaints
Litigation :	Celar

SUBJECT IDENTIFICATION & LEGAL FORM
English registered name	T&T CHEMICAL COMPANY LIMITED
Vietnamese registered name	CONG TY TNHH HOA CHAT T&T
Abbreviate registered name	TT CHEM CO., LTD
Founded	2005
Type of Business	Liability Limited Company
Business Registration	No. 0102023515
Issuance on	December 14^th, 2005
Issuance by	Hanoi city Department of Planning and Investment
Registered Capital	500,000,000 VND
Tax code	No. 0101841030
Total Employees	5 persons
ADDRESSES
Head Office
Address	No. 150 Quan Thanh Str., Quan Thanh ward, Ba Dinh Dist., Hanoi City
Country	Vietnamese
Tel	(84-4) 3716 3151
Fax	(84-4) 3716 4364
Email	contact@ttchem.vn
Website	www.ttchem.vn
DIRECTORS
NAME	Mr. NGUYEN QUOC TUAN
Position	Director
Date of birth	September 30^th, 1971
I.D card	No.011617017
Issuance on	August 26^th, 1998
Issuance by	Hanoi city Police
Resident	No. 150 Quan Thanh Str., Quan Thanh ward, Ba Dinh Dist., Hanoi City
Nationality	Vietnamese
BUSINESS NATURE AND ACTIVITIES
The subject registers and operates in the following business activities:
· Trading in chemicals, materials for many industries such as printing, rubber, paint, dyeing and garment
IMPORT & EXPORT ACTIVITIES
IMPORT: The subject imports from Singapore, China and Thailand etc.
EXPORT: N/A
BANKERS
AGRIBANK – TAY HO BRANCH
Address	No. 296 Nghi Tam Str., Tay Ho Dist., Hanoi city
Country	Vietnamese
Tel	(84-4) 3719 4143
Fax	(84-4) 3719 4607
SHAREHOLDER(S)
1. NAME	Mr. NGUYEN QUOC TUAN
Position	Director
Date of birth	September 30^th, 1971
I.D card	No.011617017
Issuance on	August 26^th, 1998
Issuance by	Hanoi city Police
Resident	No. 150 Quan Thanh Str., Quan Thanh ward, Ba Dinh Dist., Hanoi City
Nationality	Vietnamese
Share	70%
Value	350,000,000 VND

2. NAME	Ms. LE THI TUYET MAI
Position	Shareholder
ID No.	011957035
Resident	No. 150 Quan Thanh Str., Quan Thanh ward, Ba Dinh Dist., Hanoi City
Nationality	Vietnamese
Share	30%
Value	150,000,000 VND
FINANCIAL DATA
The subject was established in December 2005, we tried to collect the financial data but not available.
PAYMENT HISTORY AND EXPERIENCES
Trade Morality	Normal
Liquidity	N/A
Payment status	N/A
Financial Situation	Normal
Development trend	Normal
Litigation data	No recorded
Bankruptcy	No recorded
Payment Methods	L/C, T/T
INTERPRETATION ON THE SCORES
The subject was officially founded since the end of 2005 with total charter capital of 500,000,000 VND. It operates in the field of trading chemicals for some industries as paint, printing, garments, rubber, plastic, and so on. The subject’s head office is situated at No. 150 Quan Thanh Str., Quan Thanh ward, Ba Dinh Dist., Hanoi City, that is faily convenient for business. Subject’s scale is normal. The subject imports products from Singapore, China and Thailand then supllies for local market. Its main products are chemicals and additives imported from some firms such as Ciba, Peter Greven, Mitsubishi Rayon, Siam Cement Group Chemicals, NIC, Harrison… However, its prestige seems limited. According to Ms. Nghia – subject’s account, its annual revenue is about 8 billion VND and for the first 9 months of 2008 it reached total revenue about 9 billion VND. In general, the subject is operating on the small scale. It is reliable for small credit. Caution needed for big ones.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.47.28
UK Pound	1	Rs.73.43
Euro	1	Rs.68.22

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.	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

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 and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions