MIRA INFORM REPORT

Report Date :

19.08.2014

IDENTIFICATION DETAILS

Name :	CHAU GIANG - HUNG YEN JSC
Registered Office :	Dong Ket Hamlet/Village, Dong Ket Commune, Khoai Chau Dist, Hung Yen, Hung Yen
Country :	Vietnam
Date of Incorporation :	27.05.2011
Legal Form :	Joint Stock Company
Line of Business :	Manufacturer of Garments and Accessories.
No. of Employees :	400

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 – June 01, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
Vietnam	B1	A2

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderate Low Risk	B1
Moderate Risk	B2
Moderate High Risk	C1
High Risk	C2
Very High Risk	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 20% in 2013, while industry's share increased from 36% to more than 42% in the same period. State-owned enterprises account for about 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 2013 growing at 5%, the slowest rate of growth since 1999. In 2013, however, exports increased by more than 12%, 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 relatively stable in 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 has been made. Vietnam's economy continues to face challenges from an undercapitalized banking sector. Non-performing loans weigh heavily on banks and businesses.

Source : CIA

REGISTERED NAME & COMPANY SUMMARY

Company Details

Organization Name	:	CHAU GIANG - HUNG YEN JSC
Address	:	Dong Ket Hamlet/Village, Dong Ket Commune, Khoai Chau Dist, Hung Yen, Hung Yen
Country	:	Vietnam
Phone (S)	:	[+84] 321-3910817
Facsimile	:	[+84] 321-3928776
Primary Business Activity	:	Manufacturer
Key Industry	:	Garments & Accessories

Key Facts

Registered Legal Address	:	Dong Ket Hamlet/Village, Dong Ket Commune, Khoai Chau Dist, Hung Yen, Hung Yen
Operational Address	:	Dong Ket Hamlet/Village, Dong Ket Commune, Khoai Chau Dist, Hung Yen, Hung Yen
Issuing Authority	:	Department of Planning and Investment - National
License Number	:	0900214484
License Status	:	License exists - Normal.
Legal Form - Category	:	Joint Stock Company
Legal Form	:	Joint Stock Company
Legal Form - Abbreviation	:	JSC
Operational Status of Business	:	Normal
Date of Registration	:	27 May, 2011
Employees	:	400
Capital	:	US$ 1,186,296

DIRECTORS/ MANAGEMENT

Key Person

Legal Title	:	Managing Director
Name	:	Mr. Nguyen Van Kiem
Nationality	:	Vietnamese

COMPANY MANAGEMENT

Management Listings

	Name	Nationality	Job Description	Dept. / Division
1	Mr. Bui Nhan Trung	Vietnamese	Chief Accountant	-

Management Details - 1

Personal Unique Identifier	:	MI03754034
Name	:	Mr. Bui Nhan Trung
Date of Birth	:	1976

COMPANY DIRECTORS

1
Personal Unique Identifier	:	MI03754014
Name	:	Mr. Nguyen Van Kiem
Date of Birth	:	1971

NEGATIVE INFORMATION

REPUTATION

Reference checking for the purpose of establishing CHAU GIANG - HUNG YEN JSC'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

CIVIL 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: VND - Vietnam Dong)

Authorized Capital

:

₫ 25,000,000,000

SHAREHOLDERS

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

No.	Shareholders	Country	Shares
			Number	Amount	%
1	HUNG YEN GARMENT JSC	Vietnam	n/a	n/a	n/a
2	Ms. Do Thi Nhuong	Vietnam	n/a	n/a	n/a
3	U disclosed Shareholders	Vietnam	n/a	n/a	n/a
Total			n/a	n/a	n/a

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

DOMESTIC SALES & PURCHASES

Annual Sales Analysis	Percentage
Domestic Sales	100%

Annual Purchases Analysis	Percentage
Local Purchases	100%

PAYMENT TERMS

Selling

Type	Terms
Local	Cash on delivery (COD) Credit - Unsecured 30~60 days

Purchasing

Type	Terms
Local	Cash on delivery (COD) Credit - Unsecured 30~60 days

GROUP STRUCTURE & AFFILIATED COMPANIES

N/A

FINANCIAL INFORMATION

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.

FOREIGN EXCHANGE RATES

N/A

ADDITIONAL INFORMATION

Report Details

Country	:	Vietnam
Business Entity Name	:	CHAU GIANG - HUNG YEN JSC
Primary Business Activity	:	Manufacturer
Primary Industry	:	Garments & Accessories
Office Contact Details
Operating Address	:	Dong Ket Hamlet/Village, Dong Ket Commune, Khoai Chau Dist, Hung Yen, Hung Yen
Tel	:	[+84] 321-3910817
	:	[+84] 321-3929817
	:	[+84] 321-3928868
Fax	:	[+84] 321-3928776
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	:	0900214484

Primary Products

Products / Materials / Services Description	Activity
Garments	Manufacturing, Trading

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Apparel and accessories, nspf	2389	Manufacturing, Trading
Female/Child Clothing	5137	Manufacturing, Trading
Men's and boys' clothing, nspf	2329	Manufacturing, Trading

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Articles of apparel & clothing accessories-knitted or crocheted	6100	Manufacturing, Trading
Made-up clothing access nesoi, garment etc parts	6217	Manufacturing, Trading

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of CHAU GIANG - HUNG YEN JSC is Manufacturing - Finished products.

Key product include :

Garments

Supplementary Business

In addition to the core business, CHAU GIANG - HUNG YEN JSC also is engaged in the following areas of business:

Trading

Trading - Finished products

BANK DETAILS

Bank Name	:	JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM
Global Identifier	:	P1072025
Branch	:	Hanoi
Branch Address	:	JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM, HUNG YEN
SWIFT Code	:	BFTVVNVX
Bank Name	:	JOINT STOCK COMMERCIAL BANK FOR INVESTMENT & DEVELOPMENT OF VIETNAM
Global Identifier	:	32400483
Branch	:	Hoan Kiem Dist,Hanoi
Branch Address	:	HUNG YEN
SWIFT Code	:	BIDVVNVX

OFFICE & FACILITIES

The following information relates to the Business Entity's office as listed above:

Name	:	CHAU GIANG - HUNG YEN JSC - KHOAI CHAU DIST, HUNG YEN
Primary Use	:	Office & Administration facilities
Address	:	Dong Ket Hamlet/Village, Dong Ket Commune, Khoai Chau Dist, Hung Yen, Hung Yen
Country	:	Vietnam
Status	:	Operational

PREVIOUS BUSINESS LICENSE/S

License Date	License No.
28 Mar, 2003	0502000132

NOTES & COMMENTS

N/A

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.06
UK Pound	1	Rs.101.84
Euro	1	Rs.81.56

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	NIT

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.