MIRA INFORM REPORT

Report Date :

22.10.2013

IDENTIFICATION DETAILS

Name :	NISSEI ELECTRIC HANOI CO LTD
Registered Office :	Lot I-3 Thang Long Industrial Park, Dong Anh, Hanoi
Country :	Vietnam
Date of Incorporation :	19.03.2007
Legal Form :	Company Limited
Line of Business :	Manufacturer of Electrical Equipment & Appliances
No. of Employees :	5,200

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
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, 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

REGISTERED NAME & COMPANY SUMMARY

Company Details

Organization Name	:	NISSEI ELECTRIC HANOI CO LTD
Address	:	Lot I-3 Thang Long Industrial Park, Dong Anh, Hanoi
Country	:	Vietnam
Phone (S)	:	[+84] 4-39550045
Facsimile	:	[+84] 4-39550046
Primary Business Activity	:	Manufacturer
Key Industry	:	Electrical Equipment & Appliances

Key Facts

Registered Legal Address	:	Lot I-3 Thang Long Industrial Park, Dong Anh, Hanoi
Operational Address	:	Lot I-3 Thang Long Industrial Park, Dong Anh, Hanoi
Issuing Authority	:	Dept. of Planning & Investment - Hanoi
License Number	:	012023000020
License Status	:	License exists - Normal.
Legal Form - Category	:	Private Company with Limited Liability
Legal Form	:	Company Limited
Legal Form - Abbreviation	:	CO LTD
Operational Status of Business	:	Normal
Date of Registration	:	19 Mar, 2007
Employees	:	5,200
Capital	:	US$ 30,000,000

Report Details

Country	:	Vietnam
Business Entity Name	:	NISSEI ELECTRIC HANOI CO LTD
Primary Business Activity	:	Manufacturer
Primary Industry	:	Electrical Equipment & Appliances
Office Contact Details
Operating Address	:	Lot I-3 Thang Long Industrial Park, Dong Anh, Hanoi
Tel	:	[+84] 4-39550045
Fax	:	[+84] 4-39550046
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	:	0101877478

DIRECTORS/MANAGEMENT

Key Person

Legal Title	:	Managing Director
Name	:	Mr. Shogo Miyata
Nationality	:	Japanese

COMPANY MANAGEMENT

Management Listings

	Name	Nationality	Job Description	Dept. / Division
1	Ms. Nguyen Thi Quyen	Vietnamese	Chief Accountant	-

Management Details - 1

Personal Unique Identifier	:	MI03547305
Name	:	Ms. Nguyen Thi Quyen
Date of Birth	:	1979

COMPANY DIRECTORS

1
Personal Unique Identifier	:	MI03547302
Name	:	Mr. Shogo Miyata
Date of Birth	:	1958
Nationality	:	Japanese

NEGATIVE INFORMATION

REPUTATION

Reference checking for the purpose of establishing the NISSEI ELECTRIC HANOI CO LTD's reputation within the respective industry failed to reveal any adverse information.

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

SHARE & SHARE CAPITAL INFORMATION

CAPITAL (Currency: USD - US Dollar)

Authorized Capital

:

30,000,000

SHAREHOLDERS

Total number of shareholders	:	2
Total number of shares	:	n/a

Currency

:

USD - US Dollar

No.	Shareholders	Country	Shares
			Number	Amount (USD)	%
1	NISSEI ELECTRIC CO LTD	Japan	n/a	n/a	50.33
2	NISSEI ELECTRIC (HONG KONG) CO LTD	Hong Kong	n/a	n/a	49.67
Total			n/a	n/a	100.00

Based on corporate statutory laws / regulations in Vietnam, there is no requirement for public disclosure of Shareholders. In this case, the Shareholders information was supplied by the Subject Business Entity.
However in the absence of data normally obtained from local Statutory Authorities, it is not possible to verify the accuracy of data supplied and hence is provided as reference ONLY.

PAYMENT INFORMATION

PAYMENT TERMS

Selling

Type	Terms
Local	Cash on delivery (COD) Credit - Unsecured 30~60 days
Export	Letter of Credit (At-sight) Telegraphic Transfer (T/T) - Received at time of transaction

Purchasing

Type	Terms
Import	Letter of Credit (At-sight) Telegraphic Transfer (T/T) - Executed at time of transaction

GROUP STRUCTURE & AFFILIATED COMPANIES

DIRECT / INDIRECT CORPORATE PARENT DETAILS

Direct Parent	:	NISSEI ELECTRIC CO LTD
Global Identifier	:	P0112080
Legal Form Category	:	Private Company with Limited Liability
Country	:	Japan
Operational Address	:	32 Miyawake Shimono-ishikicho Nakagawa-ku Nagoya-shi Aichi 4540945
Primary Business Activity	:	Manufacturer

FINANCIAL INFORMATION

FINANCIAL STATEMENT - DETAILED

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

FOREIGN EXCHANGE RATES

Na

ADDITIONAL INFORMATION

Primary Products

Products / Materials / Services Description	Activity
Computer cables	Manufacturing, Exporting
Electric cables	Manufacturing, Exporting
Electric wires	Manufacturing, Exporting
Office equipment	Manufacturing, Exporting
Printer rollers	Manufacturing, Exporting

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Ball and roller bearings, and balls, rollers and parts, nspf	3562	Manufacturing, Exporting
Fabricated wire products, nspf	3496	Manufacturing, Exporting
Nonferrous metal wire and cable, drawn and insulated	3357	Manufacturing, Exporting
Office Equipment	5044	Manufacturing, Exporting
Printing trades machines and equipment, and parts and accessories, nspf	3555	Manufacturing, Exporting

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Electrical mach etc, with ind functions nesoi, parts	8543	Manufacturing, Exporting
Electrical parts of machinery	8548	Manufacturing, Exporting
Insulated optical fiber cables with individually sheathed fibers	8544700000	Manufacturing, Exporting
Insulated wire, cable etc; opt sheath fib cables	8544	Manufacturing, Exporting
Office machines	8472908000	Manufacturing, Exporting
Parts nesoi for electrical machines and apparatus	8543908080	Manufacturing, Exporting

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

Products / Materials / Services Description	Ranking	Activity
Rollers	Primary	Manufacturing, Exporting

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of NISSEI ELECTRIC HANOI CO LTD is Manufacturing - Finished products.

Key products include :

Computer cables

Electric cables

Electric wires

Office equipment

Printer rollers

Rollers

An integral part of the core business includes:

Distribution

Supplementary Business

In addition to the core business, NISSEI ELECTRIC HANOI CO LTD also is engaged in the following areas of business:

Exporting

Exporting - Finished products

Importing

Importing - Raw materials

DOMESTIC SALES & PURCHASES

Annual Sales Analysis	Percentage
Domestic Sales	20%
International Sales (Export)	80%

Annual Purchases Analysis	Percentage
Imports	100%

BANK DETAILS

Bank Name	:	JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM
Global Identifier	:	P1072025
Branch	:	Hanoi
Branch Address	:	31-33 Ngo Quyen Hanoi (Head Office)
SWIFT Code	:	BFTVVNVX
Bank Name	:	MIZUHO CORPORATE BANK LTD, THE
Global Identifier	:	P0220254
Branch	:	District 1,Ho Chi Minh
Branch Address	:	MIZUHO CORPORATE BANK LTD , THE - HANOI
SWIFT Code	:	This bank does not have a SWIFT Code

INTERNATIONAL TRADE - Activity & Markets

Country / Region	Estimated level of importance	Trading Activity
Asia / Pacific	Medium	Importing, Exporting
China	Medium	Importing
Hong Kong	Medium	Importing, Exporting
Japan	Medium	Importing, Exporting

OFFICE & FACILITIES

Name	:	NISSEI ELECTRIC HANOI CO LTD - DONG ANH, HANOI
Land Size	:	32,473 Square meters
Address	:	Lot I-3 Thang Long Industrial Park, Dong Anh, Hanoi
Country	:	Vietnam
Status	:	Operational

PREVIOUS BUSINESS LICENSE/S

License Date	License No.
3 Jan, 2006	89/GP-KCN-HN

NOTES & COMMENTS

Na

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.49
UK Pound	1	Rs.99.41
Euro	1	Rs.84.12

INFORMATION DETAILS

Report Prepared by :

SDA

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.