MIRA INFORM REPORT

Report Date :

20.08.2014

IDENTIFICATION DETAILS

Name :	BICH THI SERVICES AND TRADING JSC
Registered Office :	5, 583 Alley Kim Nguu St Vinh Tuy Ward, Hai Ba Trung Dist, Hanoi
Country :	Vietnam
Date of Incorporation :	16.11.2009
Legal Form :	Joint Stock Company
Line of Business :	Trader of Agricultural Products
No. of Employees :	16

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	:	BICH THI SERVICES AND TRADING JSC
Address	:	5, 583 Alley Kim Nguu St Vinh Tuy Ward, Hai Ba Trung Dist, Hanoi
Country	:	Vietnam
Phone (S)	:	[+84] 4-36369243
Facsimile	:	[+84] 4-36369130
Primary Business Activity	:	Trader
Key Industry	:	Agricultural Products

Key Facts
Registered Legal Address	:	5, 583 Alley Kim Nguu St Vinh Tuy Ward, Hai Ba Trung Dist, Hanoi
Operational Address	:	5, 583 Alley Kim Nguu St Vinh Tuy Ward, Hai Ba Trung Dist, Hanoi
Trading Name	:	BICH THI JSC
Issuing Authority	:	Dept. of Planning & Investment - Hanoi
License Number	:	0104254150
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	:	16 Nov, 2009
Employees	:	16
Capital	:	n/a^(1)
Note	:	^(1) 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.

Report Details

Country	:	Vietnam
Business Entity Name	:	BICH THI SERVICES AND TRADING JSC
Primary Business Activity	:	Trader
Primary Industry	:	Agricultural Products
Office Contact Details
Operating Address	:	5, 583 Alley Kim Nguu St Vinh Tuy Ward, Hai Ba Trung Dist, Hanoi
Tel	:	[+84] 4-36369243
Fax	:	[+84] 4-36369130
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	:	0104254150

DIRECTORS/MANAGEMENT

Key Person

Legal Title	:	Chairman
Name	:	Mr. Trinh Duy Hung
Nationality	:	Vietnamese

COMPANY MANAGEMENT

Management Listings

	Name	Nationality	Job Description	Dept. / Division
1	Mr. Bui Van Duyen	Vietnamese	Managing Director	-

Management Details - 1

Personal Unique Identifier	:	MI03756615
Name	:	Mr. Bui Van Duyen
Date of Birth	:	1975

COMPANY DIRECTORS

1
Personal Unique Identifier	:	MI03756615
Name	:	Mr. Bui Van Duyen
Date of Birth	:	1975
2
Personal Unique Identifier	:	MI03756639
Name	:	Mr. Trinh Duy Hung
Date of Birth	:	1976

NEGATIVE INFORMATION

REPUTATION

Reference checking for the purpose of establishing BICH THI SERVICES AND TRADING 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

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.

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

GROUP STRUCTURE & AFFILIATED COMPANIES

Na

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

Na

ADDITIONAL INFORMATION

Primary Products

Products / Materials / Services Description	Activity
Beans	Trading
Field beans	Trading
Fruit	Trading
Grains	Trading

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Citrus fruits	0174	Trading
Fresh Fruits & Vegetables	5148	Trading
Fruits and tree nuts, nspf	0179	Trading
Grain & Field Beans	5153	Trading

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Ed. fruits & nuts, peel of citrus/melons	0800	Trading
Fruit dried nesoi; mixtures of nuts or dried fruit	0813	Trading
Fruits, fresh	0810905000	Trading
Oil seeds/misc. grains/med. plants/straw	1200	Trading

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of BICH THI SERVICES AND TRADING JSC is Trading - Finished products.

Key products include :

• Beans
• Field beans
• Fruit
• Grains

Supplementary Business

In addition to the core business, BICH THI SERVICES AND TRADING JSC also is engaged in the following areas of business:

1. Exporting
• Exporting - Finished products
2. Importing
• Importing - Finished products

DOMESTIC SALES & PURCHASES

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

Annual Purchases Analysis	Percentage
Local Purchases	20%
Imports	80%

BANK DETAILS

Bank Name	:	HO CHI MINH CITY DEVELOPMENT JOINT STOCK COMMERCIAL BANK
Global Identifier	:	P2015104
Branch	:	Phu Nhuan,Ho Chi Minh
Branch Address	:	HO CHI MINH CITY DEVELOPMENT JOINT STOCK COMMERCIAL BANK - HO GUOM
SWIFT Code	:	HDBCVNV

INTERNATIONAL TRADE - Activity & Markets

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

OFFICE & FACILITIES

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

Name	:	BICH THI SERVICES AND TRADING JSC - HAI BA TRUNG DIST, HANOI
Primary Use	:	Office & Administration facilities
Address	:	5, 583 Alley Kim Nguu St Vinh Tuy Ward, Hai Ba Trung Dist, Hanoi
Country	:	Vietnam
Status	:	Operational

NOTES & COMMENTS

Na

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.73
UK Pound	1	Rs.101.48
Euro	1	Rs.81.04

INFORMATION DETAILS

Analysis Done by :	SUB DIV RAS SUM KAR
Report Prepared by :	PDT

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.