MIRA INFORM REPORT

Report Date :

11.08.2011

IDENTIFICATION DETAILS

Name :	CMM VIETNAM PRODUCING TRADING SERVICE COMPANY LIMITED

Registered Office :	No. 50/48 Go Dau Street, Tan Quy Ward - Tan Phu District - Ho Chi Minh City - Vietnam

Country :	Vietnam

Year of Establishment :	2010

Com. Reg. No.:	0310538510

Legal Form :	Limited liability company

Line of Business :	The subject is specializing in trading chemical, material for ceramic and glass industry

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31^st, 2011

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Vietnam

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

SUBJECT IDENTIFICATION & LEGAL FORM

English Name		CMM VIETNAM PRODUCING TRADING SERVICE COMPANY LIMITED
Vietnamese Name		CONG TY TNHH SAN XUAT THUONG MAI DICH VU CMM VIET NAM
Trade name		CMM VIETNAM PRODUCING TRADING SERVICE COMPANY LIMITED
Short name		CONG TY CMM VIET NAM
Type of Business		Limited liability company
Year Established		2010
Business Registration No.		0310538510
Date of Registration		24 Dec 2010
Place of Registration		Planning and Investment Department of Ho Chi Minh city
Current registered capital		500,000,000 VND
Tax code		0310538510
Total Employees		10
Size		Small

COMPANY ADDRESSES

Head Office
Address		No. 50/48 Go Dau Street, Tan Quy Ward - Tan Phu District - Ho Chi Minh City - Vietnam
Telephone		(84-8) 3847 1779
Fax		(84-8) 3847 1780
Email		cmmvietnam@gmail.com
Note: The given address is the former head office’s address of the subject.

DIRECTORS

1. NAME		Ms. NGUYEN THI BICH LIEN
Position		Chairman
Date of Birth		25 Sep 1954
ID Number/Passport		020215351
ID Issue Date		05 Aug 2010
Resident		No 133/9 Nguyen Thi Nho Street, Ward 9 - Tan Binh District - Ho Chi Minh City - Vietnam
Nationality		Vietnamese

2. NAME		Mr. PHAM XUAN THO
Position		Director
ID Number/Passport		021047865
Resident		No. 81/12 Lac Long Quan Street, Ward 9 - Tan Binh District - Ho Chi Minh City - Vietnam
Nationality		Vietnamese

BUSINESS NATURE AND ACTIVITIES

The subject is specializing in trading chemical, material for ceramic and glass industry.

IMPORT & EXPORT ACTIVITIES

IMPORT:
· Types of products		Materials
· Market		India

EXPORT:
· Market		N/A

BANKERS

ASIA COMMERCIAL BANK CONG HOA BRANCH
Address		No.463 - 465 Cong Hoa, No.15 ward - Tan Binh Dist - Ho Chi Minh City - Vietnam
Telephone		(84-8) 3810 5518
Fax		(84-8) 3810 2770

SHAREHOLDERS

1. NAME		Ms. NGUYEN THI BICH LIEN
Position		Chairman
Date of Birth		25 Sep 1954
ID Number/Passport		020215351
Issued on		05 Aug 2010
Resident		No 133/9 Nguyen Thi Nho Street, Ward 9 - Tan Binh District - Ho Chi Minh City - Vietnam
Nationality		Vietnamese
Value of shares		445,000,000 VND
Percentage		89%

2. NAME		Mr. PHAM XUAN THO
Position		Director
ID Number/Passport		021047865
Resident		No. 81/12 Lac Long Quan Street, Ward 9 - Tan Binh District - Ho Chi Minh City - Vietnam
Nationality		Vietnamese
Value of shares		55,000,000 VND
Percentage		11%

FINANCIAL DATA

The Subject is a new company, there is no financial data available.

PAYMENT HISTORY & PERFORMANCE EXPERIENCES

Trade Morality		Normal
Liquidity		N/A
Payment status		N/A
Financial Situation		Weak
Development trend		Positive
Litigation data		No Record
Bankruptcy		No Record
Payment Methods		Through the bank
Sale Methods		Retailer and Wholesaler
Public opinion		N/A

INTERPRETATION ON THE SCORES

The subject - CMM VIETNAM PRODUCING TRADING SERVICE COMPANY was established in late 2010 under the business registration No. 0310538510 and the registered capital was 500,000,000 VND.

The subject is specializing in trading chemical, material for ceramic and glass industry. Its customers including retail companies and ceramic – glass factories. The subject has plans to import products from India. It contacted some partners in India but at present, the subject still does not have any import – export activity.

The premise and facility of the subject is average. Its head office located at No. 50/48 Go Dau Street, Tan Quy Ward - Tan Phu Dist - Ho Chi Minh City. The management capacity of the subject is normal. The subject’ director – Mr. PHAM XUAN THO has much experience to business in this industry in other company. So CMM has many customers in Ho Chi Minh City.

In general, the subject is a young – small company. Its position in this field is below average. In our opinion, the subject has capacity to meet small transactions only.

APPENDIXES

INDUSTRY DATA

Industry code	Growth speed (%)		Total employees 2009 (Thousand)		Total enterprises	Annual average capital of enterprises
	Predict 2010	2009
Agriculture, Forestry and Fishing	2.8	3.0	24,788.5		2,399	50,530
Trade and Services	7.5	11	10,517.9		79,181	1,754,973
Construction	7	11.3	2,692.8		17,783	248,268
Manufacturing	12	7.6	7,591.2		30,786	967,068

ECONOMIC INDICATORS

			2010	2009		2008
Population (Million person)			86.93	86.02		86.1
Gross Domestic Products (US$ billion)			102.2	91		84.9
GDP Growth (%)			6.78	5.32		6.2
GDP Per Capita (US$)			1,160	1,080		1,040
Inflation (% Change in Composite CPI)			11.75	6.88		24.4

SERVICE TRADE PERFORMANCE

Billion USD			2010	2009		2008
Exports			71.6	56.6		62.9
Imports			84	68.8		76.6
Trade Balance			-12.4	-12.2		-14.6

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.27
UK Pound	1	Rs.73.33
Euro	1	Rs.64.58

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	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
--	NB	New Business	--

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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