MIRA INFORM REPORT

Report Date :

30.05.2008

IDENTIFICATION DETAILS

Name :	TOAN MY PHU COMPANY LIMITED
Registered Office :	47A Ban Co Str, Ward 3, Dist 3, Hochiminh City
Country :	Vietnam
Date of Incorporation :	2006
Com. Reg. No.:	4102044064
Legal Form :	Limited Liability Company
Line of Business :	Trading in Animal Feed, Additive and Materials for Processing Animal Feed.

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 :	Unknown
Litigation :	Clear

SUBJECT IDENTIFICATION & LEGAL FORM
English Name	TOAN MY PHU COMPANY LIMITED
Registered Vietnamese name	CONG TY TNHH TOAN MY PHU
Registered Trade Name	TOAN MY PHU CO., LTD
Type of Business	Limited Liability Company
Founded	2006
Business Registration No.	4102044064
Date of Issuance	October 19^th 2006
Place of Issuance	Planning and Investment Department of Hochiminh City
Registered Capital	1,500,000,000 VND
Tax Code	0304679753
Total Employees	17 employees
ADDRESS
Head Office
Address	47A Ban Co Str, Ward 3, Dist 3, Hochiminh City
Country	Vietnam
Tel	(84-8) 8337734
Fax	(84-8) 8352659
Email	toanmyphultd@hcm,fpt.vn
Website	www.toanmyphu.com
Note: The head office is also private house of subject director.
Showroom
Address	No. 28 Mac Dinh Chi Str, Da Kao Ward, Dist 1
Country	Vietnam
Tel	(84-8) 8272430
Fax	(84-8) 8227419
Contact person	Mrs. Bui Huy Nhu Hong
DIRECTORS
1. NAME	Mr. TRAN DINH TUONG
Position	Director
DOB	May 14^th 1956
ID No	024346287
Issued on	March 2^nd 2005
Issued on	Police Station of Hochiminh City
Resident	47A Ban Co Str, Ward 3, Dist 3, Hochiminh City
Nationality	Vietnamese
2. NAME	Mrs. BUI HUY NHU HONG
Position	Deputy Director
Resident	Hochiminh City
Nationality	Vietnamese
Note: Mr. Tran Trong Tuong is also director of Tan Tan Hung Trading –Service Company Limited locating at No. 602 Dien Bien Phu Str, Ward 11, Dist 10, Hochiminh City which is trading in phone card.
3. NAME	Mr. MAI NGOC HAI
Position	Import Export Manager
Resident	Hochiminh City
Nationality	Vietnamese
BUSINESS NATURE AND ACTIVITIES
The subject is specialized in trading in animal feed, additive and materials for processing animal feed.
IMPORT & EXPORT ACTIVITIES
IMPORT: The subject imports products from EU countries such as Germany, France and Spain and Thailand.
EXPORT: N/A

BANKERS

1. VIETNAM BANK FOR FOREIGN TRADE ( VIETCOMBANK)
Address	No.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
The subject is a limited liability company. Its shareholders are as follows:
1. NAME	Mr. TRAN DINH TUONG
Position	Director
DOB	May 14^th 1956
ID No	02436287
Issued on	March 2^nd 2005
Issued on	Police Station of Hochiminh City
Resident	47A Ban Co Str, Ward 3, Dist 3, Hochiminh City
Nationality	Vietnamese
Share	75%
Value	1,125,000,000 VND
2. NAME	Ms. LE HUY THUC MY
Position	Shareholder
Resident	88 Ho Ba Kien Str, Ward 15, Dist 10, Hochiminh City
Nationality	Vietnamese
Share	25%
Value	375,000,000 VND
FINANCIAL DATA
The Subject was established late 2006, 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		Direct payment or through its corresponding bank. Foreign remittance by letter of credit (L/C), by telegraphic transfer (T/T).
Sale Methods		Direct to Clients
INTERPRETATION ON THE SCORES
Toan My Phu is a new company established as a limited liability company in 2006. The subject is specialized in trading in animal feed, additive, and materials for processing animal feed. The subject has close business relationship with Animal Husbandry Material Supply Joint-Stock Company ( Amasco) which is a joint stock company focused in two fields: real estate, material of construction industry and animal feeds. Key persons of the subject formerly used to work for this company so they have good experienced in this field. At present, some staffs are still working for both the subject and Amasco, such as import export staffs. So to contact with the import export department, we contact with Amasco company through Tel No. (08-8) 8272430 at No.28 Mac Dinh Chi Str, Da Kao Ward, Dist 1, Hochiminh City. The subject is distributing products for well-know international suppliers (Euroduna Rohstoffe GmbH, Olmix, Vitalac..) in Germany, France and Thailand. It is looking for more partners to diversify its products resources. Its products are distributed in domestic market. Its market share is small. The market is strongly traded in Dong Nai and Long An province. Mrs. Bui Huy Nhu Hong – Deputy Director has experience in this field since 1980s. The subject has many familiar customers in Vietnam market. The subject’s financial statement is not available. According to Mrs. Bui Huy Nhu Hong- Deputy Director, the revenue in 2007 of the subject is about 40 billion VND and as plan, in 2008 it will exceed 20% as compared with 2007. Premises and facilities of the subject are normal. Its management capability is normal as well. At present, business of the subject is busy. However, Toan My Phu is a young company, it is necessary to invest for business and development strategy in domestic market. In comparison with other companies in the same field, the subject stands at the humble position.
CREDIT INQUIRY: 500,000 USD
This credit inquiry is so big for the Subject. Caution needed for this transaction. The registered capital of the Subject is only 1,500,000,000 VND (Equivalence 92,000 USD).

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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