MIRA INFORM REPORT

Report Date :

30.08.2008

IDENTIFICATION DETAILS

Name :	PHU THINH IMPORT – EXPORT AND PRODUCTION JOINT STOCK COMPANY
Registered Office :	No. 110, Goc De Alley, Hoang Van Thu Ward, Hoang Mai District, Hanoi City
Country :	Vietnam
Date of Incorporation :	2006
Com. Reg. No.:	0103015085
Legal Form :	Joint Stock Company
Line of Business :	Trader of Fertilizers and Chemical

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	PHU THINH IMPORT – EXPORT AND PRODUCTION JOINT STOCK COMPANY
Vietnamese Name	CONG TY CO PHAN SAN XUAT VA XUAT NHAP KHAU PHU THINH
Trade name	PHU THINH IMPORT ., JSC
Type of Business	Joint Stock Company
Founded	2006
Business Registration No.	0103015085
Issuance on	December 19^th, 2006
Issuance by	Planning and Investment Department of Hanoi City
Legal Capital	VND 1,000,000,000
Tax code	0102114870
Total Employees	20 employees
Note: The given the subject name (Phu Thin Import Export JSC) is not correct.

ADDRESSES

Registered Office
Address	No. 110, Goc De Alley, Hoang Van Thu Ward, Hoang Mai District, Hanoi City
Country	Vietnam
Head Office
Address	No. 2B, Mac Thi Buoi Str, Hai Ba Trung Dist, Hanoi City
Country	Vietnam
Tel	(84-4) 6363886
Fax	(84-4) 6367321
Note: The subject prepares to move to No. 32A, Dai Co Viet Street, Hai Ba Trung District, Hanoi City about next 10 days
Former Head Office
Address	No. 110, Goc De Alley, Hoang Van Thu Ward, Hoang Mai Dist, Hanoi City
Country	Vietnam
Tel	(84-4) 6241247 / 2140702

DIRECTORS

1. NAME	Mr. NGUYEN QUOC TUY
Position	Chairman
Address	No. 95 Van Don Str, Bach Dang Ward, Hai Ba Trung Dist, Hanoi City
Date of Birth	September 10^th, 1972
ID No.	012487862
Issuance on	March 11^th, 2002
Issuance by	Hanoi Police Station
Nationality	Vietnamese
2. NAME	Mr. NGUYEN THANH TRUNG
Position	Director
ID No.	012010109
Resident	No. 41A, Branch 6/51, Dang Van Ngu Str, Trung Tu Ward, Dong Da Dist, Hanoi City
Nationality	Vietnamese
3. NAME	Mr. NGUYEN HONG LOAN
Position	Chief Accountant
Nationality	Vietnamese

BUSINESS NATURE AND ACTIVITIES

The subject focuses on trading in fertilizers and chemical

IMPORT & EXPORT ACTIVITIES

IMPORT: The subject imports from India, China

EXPORT: N/A

BANKERS

1. VIETNAM BANK FOR INDUSTRY AND COMMERCIAL
Address	No. 285 Tran Khat Chan Str, Hai Ba Trung Dist, Hanoi City
Country	Vietnam
Tel	(84-4) 9718251
2. TECHCOMBANK
Address	No. 382- 384 Tran Khat Chan Str, Thanh Nhan Ward, Hai Ba Trung Dist, Hanoi City
Country	Vietnam
Tel	(84-4) 9725550
Fax	(84-4) 9725551
3. PG BANK
Address	No. 552, Nguyen Van Cu Str, Long Bien Dist, Ha Noi City
Country	Vietnam

SHAREHOLDER(S)

1. Name	Mr. NGUYEN QUOC TUY
Position	Chairman
Address	No. 95 Van Don Str, Bach Dang Ward, Hai Ba Trung Dist, Hanoi City
Date of Birth	September 10^th, 1972
ID No.	012487862
Issuance on	March 11^th, 2002
Issuance by	Hanoi Police Station
Nationality	Vietnamese
Share	9,000 shares
Value	VND 900,000,000
2. Name	Ms. NGUYEN THI NGOC TUYEN
Position	Shareholder
Address	No. 110, Goc De Alley, Minh Khai Str, Hoang Van Thu Ward, Hoang Mai Dist, Hanoi City
ID No.	012733412
Mobile	+84 989188764
Shares	500 shares
Value	VND 50,000,000
3. Name	Mr. NGUYEN THANH TRUNG
Position	Director
Address	No. 91A, Branch 6/51, Dang Van Ngu Str, Trung Tu Ward, Dong Da Dist, Hanoi City
ID No.	012010109
Shares	500 shares
Value	VND 50,000,000

FINANCIAL DATA

The subject started operation in 2007. Its financial data is not available.
PAYMENT HISTORY AND EXPERIENCES
Trade Morality	Average
Liquidity	N/A
Payment status	N/A
Financial Situation	Average
Development trend	Normal
Litigation data	No record
Bankruptcy	No record
Payment Methods	L/C, TT,DA
Sale Methods	Direct to its clients

INTERPRETATION ON THE SCORES

Phu Thinh Import – Export and Production Joint Stock Company was established in 2006 with the business registration No. 0103015085 dated December 19^th, 2006. The subject focuses on trading in fertilizers and chemical. Currently, its registered capital is 1,000,000,000 VND that seems small.

Its registered address is at No. 110 Goc De Street, Minh Khai Street, Hoang Van Thu Ward, Hoang Mai District, Hanoi City. Formerly, its transaction office was here. Currently, it moves to No. 2B, Mac Thi Buoi Street, Hai Ba Trung District, Hanoi City. The subject prepares to move to No. 32A, Dai Co Viet Street, Hai Ba Trung District, Hanoi City about next 10 days.

The subject imports from India and China. Its products are supplied in domestic market. The premises and facilities are average. The subject’s scale is small. Its position in the field is humble. The management capacity is normal. The subject has about 20 employees.

In general, the subject is small company. Its operation is average. The subject has capacity to meet small financial commitments. The partner should consider carefully with normal and big business commitments.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.43.79
UK Pound	1	Rs.80.05
Euro	1	Rs.64.56

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