MIRA INFORM REPORT

Report Date :

28.02.2012

IDENTIFICATION DETAILS

Correct Name :	TAN DUC THANH COMPANY LIMITED

Registered Office :	No. 125 Nguyen Binh Khiem Str - Ka Long Ward, Mong Cai City, Quang Ninh Province

Country :	Vietnam

Date of Incorporation :	05.02.2010

Com. Reg. No.:	5701369676

Legal Form :	One Member Liability Limited Company

Line of Business :	subject is specialized in temporary import and re-export activities

No. of Employees :	06

RATING & COMMENTS

MIRA’s Rating :

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

Status :	Small Company

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^th, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

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		TAN DUC THANH COMPANY LIMITED
Vietnamese Name		CONG TY TNHH MOT THANH VIEN TAN DUC THANH
Short name		TAN DUC THANH CO., LTD
Type of Business		One member liability limited company
Year Established		2010
Business Registration No.		5701369676
Date of Registration		05 Feb 2010
Place of Registration		Quang Ninh Department of Planning and Investment
Current registered capital		VND 4,800,000,000
Status		Unlisted
Tax code		5701369676
Total Employees		6
Size		Small

company ADDRESSES

Head Office
Address		No. 125 Nguyen Binh Khiem Str - Ka Long Ward, Mong Cai City, Quang Ninh Province, Vietnam
Telephone		(84-33) 3 778 535
Fax		(84-33) 3 884 222
Email		Ducthanh125@gmail.com

DIRECTORS

1. NAME		Mr. NGUYEN VAN THANH
Position		Director
ID Number/Passport		100848878
ID Issue Place		Public Security of Quang Ninh Province
Resident		No. 125 Nguyen Binh Khiem Str - Ka Long Ward, Mong Cai City, Quang Ninh Province, Vietnam
Nationality		Vietnamese

BUSINESS NATURE AND ACTIVITIES

The subject is specialized in temporary import and re-export activities.

IMPORT & EXPORT ACTIVITIES

IMPORT:
· Market		India, some countries in Africa

EXPORT:
· Market		China

BANKERS

1. VIET NAM BANK FOR AGRICULTURE AND RURAL DEVELOPMENT MONG CAI BRANCH
Address		No.24 Chu Van An Street, Hoa Lac Ward, Mong Cai City, Quang Ninh Province, Vietnam
Telephone		(84-33) 3777 177
Fax		(84-33) 3777 175

SHAREHOLDERS

1. NAME		Mr. NGUYEN VAN THANH
Position		Director
ID Number/Passport		100848878
Issued Place		Public Security of Quang Ninh Province
Resident		No. 125 Nguyen Binh Khiem Str - Ka Long Ward, Mong Cai City, Quang Ninh Province, Vietnam
Nationality		Vietnamese
Value of shares		VND 4,800,000,000
Percentage		100%

FINANCIAL DATA

N/A

PAYMENT HISTORY & PERFORMANCE EXPERIENCES

Trade Morality		Normal
Liquidity		N/A
Payment status		N/A
Financial Situation		Below Average
Development trend		Stable
Litigation data		No Record
Bankruptcy		No Record
Payment Methods		Through its banks
Sale Methods		To contracts
Public opinion		Normal

INTERPRETATION ON THE SCORES

TAN DUC THANH COMPANY LIMITED was established in Feb 2010 under Business Registration No. 5701369676 registered by Quang Ninh Department of Planning and Investment. This is also its tax code. Its current registered capital is VND 4,800,000,000.

The subject is specialized in temporary import and re-exports activities. Its goods are imported from India and some countries in Africa. After that, they are exported to China.

The head office of the subject is located in No. 125 Nguyen Binh Khiem Str - Ka Long Ward - Mong Cai District - Quang Ninh Province – Vietnam which is also the resident of its director - Mr. NGUYEN VAN THANH. Its facilities and management ability are normal. Now, the subject has 6 employees.

As s new company, its financial data is not available in our sources. Interviewing the accountant of the subject, he said that in 2011, the subject gained about VND 18 billion. However, he did not reveal any specific number. So, it is difficult to commend about its financial status but in our opinion, the financial ability of the subject is considered at slight.

In overview, the subject is a small company. Its operation and business activities seem not busy. The subject should try to stable and develop its business. Currently, it only has ability to meet small financial commitments.

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.49.05
UK Pound	1	Rs.77.78
Euro	1	Rs.65.89

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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