MIRA INFORM REPORT

Report Date :

17.02.2012

IDENTIFICATION DETAILS

Name :	HOANG GIA DAT CO., LTD
Registered Office :	No. 19, Ham Nghi Street, Da Nang City, Vietnam
Country :	Viet Nam
Financials (as on) :	31.12.2008
Date of Incorporation :	2008
Com. Reg. No.:	0400620008
Legal Form :	Limited liability company
Line of Business :	Manufacture of coffee.
No. of Employees :	17

RATING & COMMENTS

MIRA’s Rating :

B

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

Status :	Moderate
Payment Behaviour :	No complaints
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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
Viet Nam	B1	B1

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

SUBJECT IDENTIFICATION & LEGAL FORM
Translated English Name	HOANG GIA DAT CO., LTD
Registered Vietnamese Name	CONG TY TNHH HOANG GIA DAT
Type of Business	Limited liability company
Year Established	2008
Business Registration No.	0400620008
Date of Registration	28 Jan 2010
Place of Registration	Planning and Investment Department of Da Nang City
Current registered capital	VND 1,900,000,000
Status	Unlisted
Tax code	0400620008
Total Employees	17

ADDRESSES
Head Office
Address	No. 19, Ham Nghi Street, Da Nang City, Vietnam
Telephone	(84-511) 3656237
Branch in Quang Nam
Address	Hoa Tay 2 Hamlet, Dien Hoa Commune, Dien Ban District, Quang Nam Province, Vietnam
Telephone	(84-510) 3869713
Tax Code	0400620008-001
Manager	LE THANH PHAT

DIRECTORS
1. NAME	Ms. LE THI LAC
Position	Director - Chairwoman
Date of Birth	20 Mar 1970
ID Number/Passport	201244072
ID Issue Date	28 Dec 1993
ID Issue Place	Police Department of Quang Nam - Da Nang Province
Current resident	No. 19 Ham Nghi, Thanh Khe District, Da Nang City, Vietnam
Nationality	Vietnamese
Tel/Mobil phone	++84 905101499
2. NAME	Mr. LE THANH PHAT
Position	Deputy Director
ID Number/Passport	201378908
Resident	No. 19 Ham Nghi, Thanh Khe District, Da Nang City, Vietnam
Nationality	Vietnamese

BUSINESS NATURE AND ACTIVITIES

The subject specializes in:
- Manufacture of coffee.
- Trade in agriculture products and food.

IMPORT & EXPORT ACTIVITIES
IMPORT:
· Market	India
· Mode of payment	L/C
EXPORT:
Note: Currently, the subject does not export.

BANKERS
1. VIET NAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE BAC DA NANG BRANCH
Address	No.381 Nguyen Luong Bang str, Lien Chieu District, Da Nang City, Vietnam
Telephone	(84-511) 3841520

SHAREHOLDERS
1. NAME	Ms. LE THI LAC
Position	Director - Chairwoman
Date of Birth	20 Mar 1970
ID Number/Passport	201244072
Issued on	28 Dec 1993
Issued Place	Police Department of Quang Nam - Da Nang Province
Current Resident	No. 19 Ham Nghi, Thanh Khe District, Da Nang City, Vietnam
Mobile phone	++84 905101499
Nationality	Vietnamese
Value of shares	VND 800,000,000
Percentage	42.11%
2. NAME	Mr. LE THANH PHAT
Position	Deputy Director
ID Number/Passport	201378908
Resident	No. 19 Ham Nghi, Thanh Khe District, Da Nang City, Vietnam
Nationality	Vietnamese
Value of shares	VND 500,000,000
Percentage	26.32%
3. NAME	Ms. LE THI LUC
ID Number/Passport	200997937
Resident	Group 40 Vinh Trung Ward, Thanh Khe District, Da Nang City, Vietnam
Nationality	Vietnamese
Value of shares	VND 600,000,000
Percentage	31.58%

	FINANCIAL HIGHLIGHT
We tried to get the latest financial data of the subject but not achieved. The following is the financial highlight data in 2008.
	BALANCE SHEET
	Unit: Million VND
	Balance sheet date	31/12/2008
	Number of weeks	-
	ASSETS
	A. Current Asset	1,344
	Receivables	0
	Inventory	174
	Cash and other current assets	1,170
	B. Long term Asset	556
	1. Long term account receivable	0
	2. Fixed assets	556
	Tangible fixed assets	556
	+ Original cost	556
	+ Accumulated depreciation value	0
	Financial leasehold assets	0
	Intangible fixed assets	0
	Construction in progress and other long term asset	0
	TOTAL ASSETS	1,900
	LIABILITIES
	Payable loans	0
	Owner’s Equity	1,900
	TOTAL LIABILITY AND EQUITY	1,900
	PROFIT & LOSS STATEMENT
	Total revenue	228
	Deductions Items	0
	1. Net revenue	228
	2. Cost of goods sold and operation expense	262
	3. Net income from business activities	-34
	Income from financial activities	0
	Expenditure from financial activities	0
	4. Net income from financial operation	-34
	Irregular income	0
	Irregular expenditure	0
	5. Irregular Profit	0
	6. Total pre-tax profit	-34

PAYMENT HISTORY & PERFORMANCE EXPERIENCES
Trade Morality	Normal
Liquidity	N/A
Payment status	N/A
Financial Situation	Average
Development trend	Positive
Litigation data	No Record
Bankruptcy	No Record
Payment Methods	L/C
Sale Methods	Retailer and Wholesaler
Public Opinion	Limited

INTERPRETATION ON THE SCORES

CONG TY TNHH HOANG GIA DAT was established in May 2008 as a limited liability company with current business registration no. 0400620008 (the same as tax code) granted by Planning and Investment Department of Da Nang City. The registered capital of subject was VND 1,900,000,000. It can be seen that the subject is a family business under the management of Mrs. Le Thi Lac’s family.

The subject specializes in manufacture of coffee and trading agriculture products and food. The head office of subject located No. 19, Ham Nghi Street, Thanh Khe District, Da Nang City, Vietnam (that is also the private house of the director’s family). Besides, it also has a branch in Quang Nam Province (that is also a factory for processing of coffee powder under management of Mr. Le Thanh Phat).

We tried to get the latest financial data of the subject but it is not yet available at the moment. Looking at the above financial highlight data, in May 2008, the subject was established so result business of subject was not good. Its profit is negative.

In an interview with Mrs. Le Thi Lac – Director and Chairwoman said that, before, the subject imported materials from India but quality goods are not good. Hence the subject has not import since a year and it will not import from India. Currently, it does not export. Mrs. Lac is friendly but also relatively cautious. She also added that, she will provide information related to latest financial when both sides have the new partnership.

In general, the subject is a small company and its business activities are normal. It is capable to meet small commitment.

APPENDIX

INDUSTRY DATA
Industry code	Growth speed by price compared with 1994 (%)		Total enterprises 2009		Total employees 2010 (Thous.pers.)	Annual average capital of enterprises 2009 (billion dongs)
	2010	2009
Agriculture, Forestry and Fishing	2.78	1.82	8,749		23,896.3	81,559
Industry and Construction	7.70	5.52	85,115		10,630	2,751,975
Trade and Services	7.52	6.63	154,978		14,522	4,939,069
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			72.2	57.1		62.7
Imports			84.8	69.9		80.7
Trade Balance			-12.6	-12.8		-18

Source: General Statistics Office

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.25
UK Pound	1	Rs.77.45
Euro	1	Rs.64.89

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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