MIRA INFORM REPORT

Report Date :

12.05.2012

IDENTIFICATION DETAILS

Name :	DONG TAM TRADE JOINT STOCK COMPANY

Registered Office :	Km 3,5, Zone 7, Hai Yen Ward, Mong Cai City, Quang Ninh Province

Country :	Vietnam

Year of Establishment :	2005

Com. Reg. No.:	5700537180

Legal Form :	Joint Stock Company

Line of Business :	subject operates in some fields such as, trading consumer goods, trading chemical and fertilizer, temporary import and re-export, supply import-export services, leasing warehouse, etc.

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 :	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, 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		DONG TAM TRADE JOINT STOCK COMPANY
Registered Vietnamese Name		CONG TY CO PHAN THUONG MAI DONG TAM
Type of Business		Joint stock company
Year Established		2005
Business Registration No.		5700537180
Date of Registration		14 Jul 2010
Place of Registration		Quang Ninh Department of Planning and Investment
Current registered capital		VND 18,999,000,000
Status		Unlisted
Tax code		5700537180
Total Employees		20
Notes: The subject only registered Vietnamese name.

Historical Identification & Legal form

List

Changed Items

Date of changes

Subject has got former Business Registration No: 2203000635

Changed to: 5700537180

14 Jul 2010

Subject has got former Type of Business: Limited liability company Changed to: Joint stock company

2007

company ADDRESSES

Head Office
Address		Km 3,5, Zone 7, Hai Yen Ward, Mong Cai City, Quang Ninh Province, Vietnam
Telephone		(84-33) 3886210/ 2223161
Fax		(84-33) 3778838
Notes: The tel and fax given belong to a small office of the subject in Quang Ninh Province, however, we have not confirmed this address.

DIRECTORS

1. NAME		Ms. PHAM THI VAN
Position		Director
Date of Birth		12 Nov 1970
ID Number/Passport		101048689
ID Issue Date		05 Apr 2007
ID Issue Place		Quang Ninh Police Department
Resident		Km 3,5, Zone 7, Hai Yen Ward, Mong Cai City, Quang Ninh Province, Vietnam
Nationality		Vietnamese

2. NAME		Mr. PHAM VAN TUE
Position		Deputy Director
Nationality		Vietnamese
Tel/Mobil phone		+84 912457496

BUSINESS NATURE AND ACTIVITIES

The subject operates in some fields such as, trading consumer goods, trading chemical and fertilizer, temporary import and re-export, supply import-export services, leasing warehouse, etc.

IMPORT & EXPORT ACTIVITIES

IMPORT:
· Types of products		Chemical, fertilizer, frozen goods, used tyres, etc
· Market		China

EXPORT:
· Types of products		Frozen goods, used tyres, etc
· Market		China

BANKERS

1. JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM MONG CAI BRANCH
Address		No.2 Van Don, Mong Cai City, Quang Ninh Province, Vietnam
Telephone		(84-33) 3882193
Fax		(84-33) 3881676

2. 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. VU HUU QUY
ID Number/Passport		100632371
Resident		Zone 7, Hai Yen Ward, Mong Cai City, Quang Ninh Province, Vietnam
Nationality		Vietnamese
Number of Shares		65,000
Value of shares		VND 6,500,000,000
Percentage		34.21%

2. NAME		Mr. PHAM VAN PHUONG
ID Number/Passport		142046960
Resident		Hien Thanh Commune, Kinh Mon District, Hai Duong Province, Vietnam
Nationality		Vietnamese
Number of Shares		300
Value of shares		VND 30,000,000
Percentage		0.16%

3. NAME		Mr. NGUYEN QUANG TRONG
ID Number/Passport		100667937
Resident		No. 596 Cao Xanh Street, Cao Xanh Ward, Ha Long City, Quang Ninh Province, Vietnam
Nationality		Vietnamese
Number of Shares		300
Value of shares		VND 30,000,000
Percentage		0.16%

4. NAME		Ms. PHAM THI VAN
Position		Director
Date of Birth		12 Nov 1970
ID Number/Passport		101048689
Issued on		05 Apr 2007
Issued Place		Quang Ninh Police Department
Resident		Km3,5, Zone 7, Hai Yen Ward, Mong Cai City, Quang Ninh Province, Vietnam
Nationality		Vietnamese
Number of Shares		124,390
Value of shares		VND 12,439,000,000
Percentage		65.47%

FINANCIAL DATA

We tried to get the latest financial data of subject but it is still not available at the moment.

PAYMENT HISTORY & PERFORMANCE EXPERIENCES

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

CREDIT INQUIRY: USD 125,000 Against DA in terms

Caution is needed with the above credit inquiry. The latest financial statement of subject is not available so we can not calculate the maximum credit limit.

INTERPRETATION ON THE SCORES

The subject was established in 2005 as a limited liability company. Up to 2007, the subject was transformed into joint stock company. Currently, the subject is operating under the business registration no. 5700537180 (the same as tax code) with the registered capital of VND 18,999 million.

The head office of subject is located at Km 3,5, Zone 7, Hai Yen Ward, Mong Cai City, Quang Ninh Province. That address is also the private house of subject’s director. The subject is ranked as a small scale company with about 20 employees now.

The subject operates in some fields such as trading consumer goods, trading chemical and fertilizer, temporary import and re-export, supply import – export services, leasing warehouse, etc. The subject’s main import – export market is China. The subject imports fertilizer and chemical to supply for domestic, imports frozen goods, used tires and some other products to export to other countries under the form of temporary import and re-export.

The latest financial statement of subject is not available. However, according to Mr. Tue – deputy director of subject, the subject's business result in recent years had good growth.

In general, the subject is a small company in industry. Its facilities are normal. Caution is need for medium and big 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.53.64
UK Pound	1	Rs.86.42
Euro	1	Rs.69.29

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.