MIRA INFORM REPORT

Report Date :

06.11.2013

IDENTIFICATION DETAILS

Name :	COC NAM SERVICE AND TRADING JSC
Registered Office :	7/75/560 Nguyen Van Cu St Gia Thuy Ward, Long Bien Dist, Hanoi
Country :	Vietnam
Date of Incorporation :	20.01.2006
Legal Form :	Joint Stock Company
Line of Business :	Not Available
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

C

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	Undetermined
Payment Behaviour :	Unknown
Litigation :	--

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)
Vietnam	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 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

Based on the investigation details you have provided we have been unable to provide you with a full report on the company you are investigating due to the following reasons:

Database:

■ We do not hold any information on the company you are investigating in our database

Address:

■ The address you have provided in your investigation is not a complete / accurate one

■ Local reporters have been unable to locate an alternative address

We have attempted unsuccessfully to locate the subject company using the following methods:

■ Post

■ Internet

■ Printed Reference Books/Directories

■ International Directory Enquiries

■ Local Telephone/Telecommunications Directory

■ Local Authorities

Please provide us with any additional information you may have so that we can resume an investigation on your behalf and provide you with a full report free of charge.

Company Details

Organization Name	:	COC NAM SERVICE AND TRADING JSC
Address	:	7/75/560 Nguyen Van Cu St Gia Thuy Ward, Long Bien Dist, Hanoi
Country	:	Vietnam

Operating Status:

Investigation can not confirm operational status of Subject Business Entity.

Investigations confirm the legal registration of the COC NAM SERVICE AND TRADING JSC, but as a result of not being able to identify:

any operational offices

any point of contact

nor speak to any representative of the firm

it has not been possible to conduct the normal due diligence process and assessment of credit worthiness.

Key Facts
Registered Legal Address	:	7/75/560 Nguyen Van Cu St Gia Thuy Ward, Long Bien Dist, Hanoi
Operational Address	:	7/75/560 Nguyen Van Cu St Gia Thuy Ward, Long Bien Dist, Hanoi
Trading Name	:	COC NAM SER AND TRA
Issuing Authority	:	Dept. of Planning & Investment - Hanoi
License Number	:	0101862545
License Status	:	License exists - But no trace of any Operational office.
Legal Form - Category	:	Joint Stock Company
Legal Form	:	Joint Stock Company
Legal Form - Abbreviation	:	JSC
Operational Status of Business	:	It was NOT possible to confirm the operational status.^(1)
Date of Registration	:	20 Jan, 2006
Employees	:
Capital	:	n/a^(2)
Note	:	^(1) Due to the lack of SBE's operational status, and circumstances involved, the information as listed below is only historical / on-file data and as such it has not been possible to verify against any current sources. ^(2) Not applicable. According to the corporate statutory laws for this type of Legal Form - Category(Joint Stock Company) in Vietnam, there is no requirement for Authorized Capital.

Credit opinion	:	Insufficient data on the company to enable a more accurate assessment of a company. Caution is advised.
Proposed Credit Limit	:	No Recommendation

Report Details

Country	:	Vietnam
Business Entity Name	:	COC NAM SERVICE AND TRADING JSC
Office Contact Details
Operating Address	:	7/75/560 Nguyen Van Cu St Gia Thuy Ward, Long Bien Dist, Hanoi
Tax / VAT Details
Tax Issuing Authority	:	Ministry of Finance
Local Name Used	:	Gia Trj Gia Tang (Value Added Tax)
Acronym	:	GTGT / VAT
GTGT / VAT Number	:	0101862545

Key Person

Legal Title	:	Managing Director
Name	:	Mr. Doan Bao Thach
Nationality	:	Vietnamese

FINANCIAL STATEMENT - DETAILED

Based on the corporate laws of Vietnam, legal entities which are Joint Stock Company are not required to make public disclosure of their annual financials. Therefore no financials are available for this entity.

NEGA-SCAN - ADVERSE DATA MONITORING

DISHONORED CHECKS

No Record Found

DEBT	No Record Found

LITIGATION

No Record Found

PERFORMANCE DEFAULTS

No Record Found

ADVERSE LOCAL MEDIA COVERAGE / ADVERSE FILING HISTORY

No Record Found

SHAREHOLDERS

Not available - According to the corporate statutory laws for this type of Legal Form - Category (Joint Stock Company) in Vietnam, there is no public disclosure of Shareholders.

COMPANY DIRECTORS

1
Personal Unique Identifier	:	MI03551943
Name	:	Mr. Doan Bao Thach
Nationality	:	Vietnamese

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.79
UK Pound	1	Rs.98.66
Euro	1	Rs.83.42

INFORMATION DETAILS

Report Prepared by :

NIS

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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