MIRA INFORM REPORT

Report Date :

21.05.2008

IDENTIFICATION DETAILS

Name :	C.P.V COMPANY LIMITED
Registered Office :	53 Nguyen Tat Thanh Str, Ward 13, Dist 4, Hochiminh City.
Country :	Vietnam
Financials (as on) :	2005
Date of Incorporation :	24.09. 2002
Com. Reg. No.:	4102011788
Legal Form :	Limited Liability Company
Line of Business :	Specialized in Trading of Medical Equipments, Medical Devices.

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 :	Moderate
Payment Behaviour :	No Complaints
Litigation :	Clear

SUBJECT IDENTIFICATION & LEGAL FORM
English Name	C.P.V COMPANY LIMITED
Vietnamese name	CONG TY TNHH C.P.V
Trade Name	C.P.V CO.,LTD
Founded	September 24^th, 2002
Type of Business	Limited liability company
Business Registration No.	4102011788
Date of Issuance	September 24^th, 2002
Place of Issuance	Business Registration Office of Hochiminh City
Registered Capital	1,000,000,000 VND
Tax Code	0302737632
Total Employees	9 employees
ADDRESS
Head Office
Address	53 Nguyen Tat Thanh Str, Ward 13, Dist 4, Hochiminh City.
Country	Vietnam
Tel	(84-8) 9434378/ 9434355
Fax	(84-8) 9432967
Email	info@cpvmed.com
Website	www.cpvmed.com
Note: The current registered address of the Subject is as above.
DIRECTORS
1. NAME	Mr. DO DANG CUONG
Position	Director
Qualification	Management
Born	February 13^th, 1970
ID Number	0236628760
Resident	No.346/4 Co Giang, Ward 2, Phu Nhuan Dist, Hochiminh City
Nationality	Vietnamese
BUSINESS NATURE AND ACTIVITIES
The subject is specialized in trading of medical equipments, medical devices.
IMPORT & EXPORT ACTIVITIES
IMPORT: The subject imports from EU (France, Italy, Spain, Germany), USA, New Zealand. It imports following products: Bone Desitometer,,Neonatal CPAP, Patient Motitor - ECG , Ultrasound system, Operating Room Equipments, Infant Incubator, Ventilator, Non Invasive Bilirubin Alalyzer, Medical Oiless Air Compressor, Pulse Oximeter, Alcohol analyzer, Blood and infusion warmer, SpO2 sensor, Oxygen sensor, Flow sensor, Accessories for ECG , Electrosurgery, patient monitor, ventilator...
EXPORT: N/A
BANKERS
EXIMBANK – HOCHIMINH CITY
Address	No.7 Le Thi Hong Gam Str, Dist No.1, Hochiminh city
Country	Vietnam
Tel	(84-8) 821 0055
Fax	(84-8) 829 6063
Telex	812690 EIB VT
Swift	EBVIVNVX
SHAREHOLDERS
1. NAME	Mr. DO DANG CUONG
Position	Director
Qualification	Management
Born	February 13^th, 1970
ID Number	0236628760
Resident	No.346/4 Co Giang, Ward 2, Phu Nhuan Dist, Hochiminh City
Nationality	Vietnamese
Shares	60%
Values	600,000,000 VND
2. NAME	Mr. DINH THI VAN
Position	Shareholder
Qualification	Bachelor
ID Number	271229408
Resident	16/10 Bao Vinh A hamlet, Xuan Vinh Commune, Long Khanh District, Dong Nai Province
Nationality	Vietnamese
Shares	40%
Values	400,000,000 VND
FINANCIAL DATA
We tried to collect the financial of the Subject in recent years but not available. Following is the financial highlight in 2005
Unit: 1,000,000 VND
Description		2005
Current assets & Short term Investment:		1,446
Fixed assets and long-term investment		0
Total Assets		1,446
Payable		844
Owner’s Equity		602
Total Liability and Equity		1,446
Total Revenue		1,343
Deduction items
Net Revenue		1,343
Net Income From business Activities		64
Net Income From Financial Operation		-4
Irregular Profit		-2
Total pre-tax Profit		58
PAYMENT HISTORY AND EXPERIENCES
Trade Morality	Average
Liquidity	Average
Payment status	Normal
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).
Sales methods	Directly to clients
INTERPRETATION ON THE SCORES
The subject is a limited liability company which was established in 2002. The subject specializes in distributing medical equipments. Premises and facilities of the subject are normal. Products are imported mainly from France, Italy… Following the financial highlight of 2005, the subject’s financial situation is not much healthy. However, after interviewing the subject, we’re known that its current situation is better. The subject’s sale volume is annually increased. Generally, the prospect of future development of the Subject is average.

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