MIRA INFORM REPORT

Report Date :

10.06.2013

IDENTIFICATION DETAILS

Name :	HAI KIM LONG INVESTMENT COMPANY LIMITED
Registered Office :	No. 26, Lane 4, Group 58, Tran Quy Kien Street, Dich Vong Ward, Cau Giay District, Ha Noi City
Country :	Vietnam
Date of Incorporation :	15.02.2012
Com. Reg. No.:	0105790725
Legal Form :	Limited liability company
Line of Business :	The subject is specialized in trading materials, chemical for industries of pharmaceutical, food and veterinary medicine.
No. of Employees :	8

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 :	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, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
Viet Nam	B1	B1

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

VIETNAM - ECONOMIC OVERVIEW

Vietnam is a densely-populated developing country that has been transitioning from the rigidities of a centrally-planned economy since 1986. Vietnamese authorities have reaffirmed their commitment to economic modernization in recent years. Vietnam joined the World Trade Organization in January 2007, which has promoted more competitive, export-driven industries. Vietnam became an official negotiating partner in the Trans-Pacific Partnership trade agreement in 2010. Agriculture''s share of economic output has continued to shrink from about 25% in 2000 to less than 22% in 2012, while industry''s share increased from 36% to nearly 41% in the same period. State-owned enterprises account for roughly 40% of GDP. Poverty has declined significantly, and Vietnam is working to create jobs to meet the challenge of a labor force that is growing by more than one million people every year. The global recession hurt Vietnam''s export-oriented economy, with GDP in 2012 growing at 5%, the slowest rate of growth since 1999. In 2012, however, exports increased by more than 18%, year-on-year; several administrative actions brought the trade deficit back into balance. Between 2008 and 2011, Vietnam''s managed currency, the dong, was devalued in excess of 20%, but its value remained stable in 2012. Foreign direct investment inflows fell 4.5% to $10.5 billion in 2012. Foreign donors have pledged $6.5 billion in new development assistance for 2013. Hanoi has oscillated between promoting growth and emphasizing macroeconomic stability in recent years. In February 2011, the Government shifted policy away from policies aimed at achieving a high rate of economic growth, which had stoked inflation, to those aimed at stabilizing the economy, through tighter monetary and fiscal control. Although Vietnam unveiled a broad, "three pillar" economic reform program in early 2012, proposing the restructuring of public investment, state-owned enterprises, and the banking sector, little perceptible progress had been made by early 2013. Vietnam''s economy continues to face challenges from an undercapitalized banking sector. Non-performing loans weigh heavily on banks and businesses. In September 2012, the official bad debt ratio climbed to 8.8%, though some independent analysts believe it could be higher than 15%.

Source : CIA

SUBJECT IDENTIFICATION & LEGAL FORM
English Name	HAI KIM LONG INVESTMENT COMPANY LIMITED
Vietnamese Name	CONG TY TNHH DAU TU HAI KIM LONG
Trade name	HAI KIM LONG INVESTMENT CO LTD
Type of Business	Limited liability company
Year Established	2012
Business Registration No.	0105790725
Date of Registration	15 Feb 2012
Place of Registration	Hanoi Planning and Investment Department
Chartered capital	VND 4,500,000,000
Status	Unlisted
Tax code	0105790725
Total Employees	8

ADDRESSES
Head Office
Address	No. 26, Lane 4, Group 58, Tran Quy Kien Street, Dich Vong Ward, Cau Giay District, Ha Noi City, Vietnam
Telephone	(84-4) 37938136
Fax	(84-4) 37938137
Email	haikimlongltd@gmail.com
Land-use Right	Leased
Other
Address	Hamlet 8, Xuan Phuong Commune, Tu Liem Dist, Ha Noi City, Vietnam
Land-use Right	Leased

DIRECTORS
1. NAME	Mr. NGUYEN DINH PHUOC
Position	Director
Date of Birth	20 Jan 1982
ID Number/Passport	012270711
ID Issue Date	24 Aug 1999
ID Issue Place	Hanoi Police Department
Resident	Duc Noi Hamlet, Viet Hung Commune, Dong Anh District, Ha Noi City, Vietnam
Nationality	Vietnamese
2. NAME	Mr. TRAN BA MIEN
Position	Deputy Director
ID Number/Passport	142177441
Resident	Hamlet 14, O Xuyen, Co Bi Commune, Binh Giang District, Hai Duong Province, Vietnam
Nationality	Vietnamese
Tel/Mobile phone	+84 985262000

BUSINESS NATURE AND ACTIVITIES

The subject is specialized in trading materials, chemical for industries of pharmaceutical, food and veterinary medicine.

IMPORT & EXPORT ACTIVITIES
IMPORT:
· Market	Korea, USA, Europe, China, India
· Mode of payment	T/T
EXPORT:
Note: Currently, the subject does not export

BANKERS
1. BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM TAY HO BRANCH
Address	No.278 Thuy Khe, Tay Ho District, Ha Noi City, Vietnam
Telephone	(84-4) 37285255
2. VIET NAM BANK FOR AGRICULTURE AND RURAL DEVELOPMENT CAU GIAY BRANCH
Address	No.99 Tran Dang Ninh Street, Cau Giay District, Ha Noi City, Vietnam
Telephone	(84-4) 37910816
Fax	(84-4) 37910813

SHAREHOLDERS
1. NAME	Mr. NGUYEN DINH PHUOC
Position	Director
Date of Birth	20 Jan 1982
ID Number/Passport	012270711
Issued on	24 Aug 1999
Issued Place	Hanoi Police Department
Resident	Duc Noi Hamlet, Viet Hung Commune, Dong Anh District, Ha Noi City, Vietnam
Nationality	Vietnamese
Value of shares	VND 1,620,000,000
Percentage	36%
2. NAME	Mr. TRAN BA MIEN
Position	Deputy Director
ID Number/Passport	142177441
Resident	Hamlet 14, O Xuyen, Co Bi Commune, Binh Giang District, Hai Duong Province, Vietnam
Mobile phone	+84 985262000
Nationality	Vietnamese
Value of shares	VND 855,000,000
Percentage	19%
3. NAME	Mr. KIEU VAN KHIET
ID Number/Passport	013345405
Resident	Phu Do Hamlet, Me Tri Commune, Tu Liem Dist, Ha Noi City, Vietnam
Nationality	Vietnamese
Value of shares	VND 900,000,000
Percentage	20%
4. NAME	Mr. NGUYEN HONG THAI
ID Number/Passport	013330608
Resident	Ngoc Mach Hamlet, Xuan Phuong Commune, Tu Liem District, Ha Noi City, Vietnam
Nationality	Vietnamese
Value of shares	VND 1,125,000,000
Percentage	25%

FINANCIAL DATA

We tried our best to collect the financial data but not available.

PAYMENT HISTORY & PERFORMANCE EXPERIENCES
Trade Morality	Normal
Liquidity	N/A
Payment status	N/A
Financial Situation	Below Average
Development trend	Developing
Litigation data	No Record
Bankruptcy	No Record
Payment Methods	T/T
Sale Methods	Retailer and Wholesaler
Public opinion	N/A

INTERPRETATION ON THE SCORES

HAI KIM LONG INVESTMENT COMPANY LIMITED was established under the business registration No. 0105790725 granted by Hanoi Planning and Investment Department on 15th February 2012. Currently, the subject is operating with normal chartered capital as VND 4.5 billion.

The subject is specialized in trading materials, chemical for industries of pharmaceutical, food and veterinary medicine. Its premises and facilities are normal. The head office is located No. 26 - Lane 4 - Group 58 - Tran Quy Kien Street - Cau Giay District - Hanoi City. This is a multistory house, the subject leases 1st floor to make office. Besides, it has also a warehouse at Xuan Phuong Commune - Tu Liem District - Hanoi City.

The subject imports from Korea, USA and Europe. Its main payment method is T/T. It does not export. Its market share is in the northern. Management capability of the subject is normal with total labors as 8 people. According to the subject's accountant staff, in 2012, the subject reached over VND 7 billion in turnover and about VND 30 million in profit.

In general, the subject is new and small business. It was founded in the time of the difficulty economic, so its business activities are also affected. Caution is needed for all business transactions with the subject.

------------ APPENDIX 1 ----------

INDUSTRY DATA
Industry code	GDP growth speed by price compared with 1994 (%)		Total enterprises 2010		Total employees 2011 (Thous.pers.)	Annual average capital of enterprises 2010 (billion dongs)
	2012	2011
Agriculture, Forestry and Fishing	2.72	4.00	8,887		24,362.9	95,227
Industry and Construction	4.52	5.53	95,217		10,718.9	3,641,376
Trade and Services	6.42	6.69	187,195		15,270.2	6,957,082
ECONOMIC INDICATORS
			2012	2011		2010
Population (Million person)			88.78	87.84		86.93
Gross Domestic Products (USD billion)			136	119		102.2
GDP Growth (%)			5.03	5.89		6.78
GDP Per Capita (USD/person/year)			1,540	1,300		1,160
Inflation (% Change in Composite CPI)			9.21	18.58		11.75
State Budget Deficit compared with GDP (%)			4.8	4.9		5.8
SERVICE TRADE PERFORMANCE
Billion USD			2012	2011		2010
Exports			114.6	96.3		72.2
Imports			114.3	105.8		84.8
Trade Balance			0.3	-9.5		-12.6

Source: General Statistics Office

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.56.74
UK Pound	1	Rs.88.53
Euro	1	Rs.75.20

INFORMATION DETAILS

Report Prepared by :

NLM

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