MIRA INFORM REPORT

Report Date :

06.07.2012

IDENTIFICATION DETAILS

Correct Name :	THANH DANH TRADING COMPANY LIMITED

Registered Office :	TAASAH Towner, Room 3, Floor 2, No. 749/14/4 Huynh Tan Phat Street, Phu Thuan Ward , 7 District, Ho Chi Minh City

Country :	Vietnam

Year of Establishment :	2001

Com. Reg. No.:	0302270605

Legal Form :	Limited Liability Company

Line of Business :	importing and distributing pharmaceuticals and adjuvant

No. of Employees :	20

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 :	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 – March 31^st, 2012

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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

Current legal status
English Name		THANH DANH TRADING COMPANY LIMITED
Vietnamese Name		CONG TY TNHH THUONG MAI THANH DANH
Trade name		TADA CO., LTD
Other trade name		TADACO
Type of Business		Limited liability company
Year Established		2001
Business Registration No.		0302270605
Date of Registration		14 May 2010
Place of Registration		Business Registration Office (Planning and Investment Department of Hochiminh city)
Chartered capital		VND 1,500,000,000
Tax code		0302270605
Total Employees		20

Historical Identification & Legal form

List	Changed Items	Date of changes
1	Subject has got former Business Registration No: 4102004347 issued on 30 Mar 2001 Changed to: 0302270605	14 May 2010
2	Subject has got former chartered capital: VND 250,000,000 Changed to: VND 1,500,000,000	N/A
3	Subject has got former Address: No. B001, My Phuoc Block, Phu My Hung Township, Nguyen Van Linh Street, District 7 Changed to: TAASAH Towner, Room 3, Floor 2, No. 749/14/4 Huynh Tan Phat Street, Phu Thuan Ward - District 7	N/A

compaNY ADDRESSES

Head Office
Address		TAASAH Towner, Room 3, Floor 2, No. 749/14/4 Huynh Tan Phat Street, Phu Thuan Ward , 7 District, Ho Chi Minh City, Vietnam
Telephone		(84-8) 5433 6108
Fax		(84-8) 5433 6110

Branch in Ha Noi
Address		No. 901B, 8C Apartment, No. 30 Ta Quang Buu Street, Bach Khoa Ward , Hai Ba Trung District, Ha Noi City, Vietnam
Telephone		(84-8) 3623 0532
Fax		(84-8) 3623 0529

DIRECTORS

1. NAME		Ms. NGHIEM XUAN HUE
Position		General Director – Legal representative
Date of Birth		01 Aug 1976
ID Number/Passport		381119260
Resident		A9-02 CONIC Dinh Khiem Apartment Building, Nguyen Van Linh Street, Phong Phu Commune, Binh Chanh District, Ho Chi Minh City, Vietnam
Nationality		Vietnamese
Qualification		Management

2. NAME		Ms. TONG THI TINH
Position		Accountant
Current resident		Ho Chi Minh City, Vietnam
Nationality		Vietnamese
Email		tinh.tadaco@gmail.com
Qualification		Bachelor

3. NAME		Ms. DUONG THI THUY PHUONG
Position		Import-Export Department
Nationality		Vietnamese

BUSINESS NATURE AND ACTIVITIES

The subject specializes in importing and distributing pharmaceuticals and adjuvant

IMPORT & EXPORT ACTIVITIES

IMPORT:
· Types of products		goods
· Market		India, Pakistan, China and Thailand.

EXPORT: N/A

BANKERS

1. JOINT STOCK BANK FOR FOREIGN TRADE OF VIETNAM
Address		Lawrence S-Ting Building, No. 801 Nguyen Van Linh Street, Tan Phu Ward, 7 District, Ho Chi Minh City, Vietnam

2. VIETNAM TECHNOLOGICAL AND COMMERCIAL JOINT STOCK BANK PHU MY HUNG TRANSACTION OFFICE
Address		Capital Tower, No.6 Nguyen Khac Vien Street, Tan Phu Ward , 7 District, Ho Chi Minh City, Vietnam
Telephone		(84-8) 5412 0001
Fax		(84-8) 5412 0538

SHAREHOLDERS

1. NAME		Ms. NGHIEM XUAN HUE
Position		General Director
Date of Birth		01 Aug 1976
ID Number/Passport		381119260
Resident		A9-02 CONIC Dinh Khiem Apartment Building, Nguyen Van Linh Street, Phong Phu Commune , Binh Chanh District, Ho Chi Minh City, Vietnam
Nationality		Vietnamese
Qualification		Management
Value of shares		VND 1,200,000,000
Percentage		80%

2. NAME		Ms. NGHIEM XUAN HUONG
ID Number/Passport		381101048
Resident		Ba Dieu Hamlet, Ly Van Lam Commune, Ca Mau Town , Ca Mau City, Ca Mau Province, Vietnam
Nationality		Vietnamese
Value of shares		VND 300,000,000
Percentage		20%

FINANCIAL DATA

Its financial statements are not available. Following is its figures which was collected from subject’s chief accountant:
Revenue in 2011		VND 5,509,456,898
The profit after tax in 2011		VND 1,233,564,064
Revenue in 2010		VND 2,597,287,960
The profit after tax in 2010		VND 397,915,510.

PAYMENT HISTORY & PERFORMANCE EXPERIENCES

Trade Morality		Normal
Liquidity		N/A
Payment status		N/A
Financial Situation		Below Average
Development trend		N/A
Litigation data		No Recorded
Bankruptcy		No Recorded
Payment Methods		L/C, T/T
Sale Methods		Retailer and Wholesaler
Public opinion		Normal

INTERPRETATION ON THE SCORES

The subject – TADACO was established in 2001. At present, the subject is operating under business registration no. 0302270605 issued by Business Registration Office of Hochiminh City and chartered capital VND1,5 billion.

The subject specializes in importing and distributing pharmaceuticals and adjuvant. The subject imports goods from India, Pakistan, China, Thailand.

Operation about 11 years, However it position in industry is normal. Management capacity of the subject is acceptable. The subject’s general director – Ms. Nghiem Xuan Hue is an active business woman. Besides, she is operating another two companies named “An Viet International Trading Company Limited” and Kien Han Thinh Trading Service Consultancy Design Investment Construction Company Limited.

Its financial data is not available. According to Ms. Tong Thi Tinh – subject’s chief accountant, business situation of the subject in 2011 is fairly good compared with 2010. Its revenue and profit after tax in 2011 were VND 5,509,456,898 and VND 1,233,564,064; in 2010 were VND 2,597,287,960 and VND 397,915,510.

In overview, the subject is operating with small scale. Its business activities are now busy. The subject has capacity to meet these small transactions.

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)
	2011	2010
Agriculture, Forestry and Fishing	4.00	2.78	8,749		23,896.3	81,559
Industry and Construction	5.53	7.70	85,115		10,630	2,751,975
Trade and Services	6.69	7.52	154,978		14,522	4,939,069

ECONOMIC INDICATORS

			2011	2010		2009
Population (Million person)			87.84	86.93		86.02
Gross Domestic Products (USD billion)			119	102.2		91
GDP Growth (%)			5.89	6.78		5.32
GDP Per Capita (USD/person/year)			1,300	1,160		1,080
Inflation (% Change in Composite CPI)			18.58	11.75		6.88
State Budget Deficit compared with GDP (%)			4.9	5.8		6.9

SERVICE TRADE PERFORMANCE

Billion USD			2011	2010		2009
Exports			96.3	72.2		57.1
Imports			105.8	84.8		69.9
Trade Balance			-9.5	-12.6		-12.8

Source: General Statistics Office

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.03
UK Pound	1	Rs.85.93
Euro	1	Rs.68.97

INFORMATION DETAILS

Report Prepared by :

MNL

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%)

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.