MIRA INFORM REPORT

Report Date :

16.02.2008

IDENTIFICATION DETAILS

Name :	HIEU NGHIA TRADING – SERVICE COMPANY LIMITED
Registered Office :	No. 7 Street 100 Binh Thoi, Ward 14, Dist 11, Hochiminh city
Country :	Vietnam
Date of Incorporation :	2006
Com. Reg. No.:	4102043586
Legal Form :	Limited Liability Company
Line of Business :	Trading in fabric, fibre, garment products, equipments and materials using in textile – garment - embroidering 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.	Small

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

SUBJECT IDENTIFICATION & LEGAL FORM
English Name	HIEU NGHIA TRADING – SERVICE COMPANY LIMITED
Vietnamese name	CONG TY TNHH THUONG MAI DICH VU HIEU NGHIA
Trade Name	HIEU NGHIA TRADING – SERVICE CO., LTD
Founded	2006
Type of Business	Limited liability company
Business Registration No.	4102043586
Date of Issuance	October 5^th 2006
Place of Issuance	Planning and Investment Department of Hochiminh city
Registered Capital	2,000,000,000 VND
Tax Code	0304612325
Total Employees	4 employees
Qualification	Normal
ADDRESS
Head Office
Address	No. 7 Street 100 Binh Thoi, Ward 14, Dist 11, Hochiminh city
Country	Vietnam
Tel	(84-8) 9741188
Fax	(84-8) 4067847
DIRECTORS
1. NAME	Mr. TRAN VAN LANG
Position	Director – Legal Representative
Date of birth	April 5^th 1964
ID No	351259477
Resident	No. 7 Street 100 Binh Thoi, Ward 14, Dist 11, Hochiminh city
Nationality	Vietnamese
Cell phone	++ 84 908 018 012
2. NAME	Mr. TRAN NGOC THUONG
Position	Deputy Director
ID No	351349824
Resident	No. 7 Street 100 Binh Thoi, Ward 14, Dist 11, Hochiminh city
Nationality	Vietnamese
BUSINESS NATURE AND ACTIVITIES
The subject is specialized in trading in fabric, fibre, garment products, equipments and materials using in textile – garment - embroidering industry.
IMPORT & EXPORT ACTIVITIES
IMPORT: The subject imports goods from Thailand, India
EXPORT: N/A
BANKERS
1. ASIA COMMERCIAL JOINT STOCK BANK (ACB BANK)
Address	No. 442 Nguyen Thi Minh Khai Str, Ward 5, Dist 3, Hochiminh City
Country	Vietnam
Tel	(84-8) 8334085 - 8395179
Fax	(84-8) 8359156
Telex	813158ACBVT
Swift	ASCBVNVX
SHAREHOLDERS
1. NAME	Mr. TRAN VAN LANG
Position	Director – Legal Representative
Date of birth	April 5^th 1964
ID No	351259477
Resident	No. 7 Street 100 Binh Thoi, Ward 14, Dist 11, Hochiminh city
Nationality	Vietnamese
Share	75%
Value	1,500,000,000 VND
2. Name	Mr. TRAN NGOC THUONG
Position	Deputy Director
ID No	351349824
Resident	No. 7 Street 100 Binh Thoi, Ward 14, Dist 11, Hochiminh city
Nationality	Vietnamese
Share	25%
Value	500,000,000 VND
Note: Mr. Tran Ngoc Thuong is younger brother of Mr. Tran Van Lang.
PAYMENT HISTORY AND EXPERIENCES
Trade Morality	Average
Liquidity	Average
Previous Payments	Normal
Payment status	Normal
Past Financial Situation	Normal
Current Financial Situation	Normal
Litigation Data	No Recorded
Bankruptcy	No Recorded
Public opinion	Normal
Payment Methods	Direct payment or through its corresponding bank.
FINANCIAL DATA
The subject’s completed financial statement is not available.
INTERPRETATION ON THE SCORES
The Hieu Nghia Trading Service Co., Ltd is a limited liability company, which was established in October 2006. It registered trading in fabric, fibre, garment products, equipments and materials used for textile – garment - embroidering industry. Thailand and India are main import markets of the subject. The consumption market of the subject is only Hochiminh city. The subject has operated for no long time so its market share is still limited. Business activities of the subject seem not busy. The subject is located in a part of private house of its director – Mr. Tran Van Lang. The premise and facilities are below average. Its business scale is very small with total 4 employees. Management capacity of the subject is normal. The subject’s financial statements are not available. Currently, its registered capital is 2,000,000,000 VND. Caution needed for any medium or big transactions with the subject.
The company’s stability is expected to be IMPAIRED by adverse changes in circumstances and economic conditions.
CREDIT INQUIRY: 1,500,000 USD TERM DA
Unreliable! Caution Needed!

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%)

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