MIRA INFORM REPORT

Report Date :

26.08.2014

IDENTIFICATION DETAILS

Name :	VIETNAM RUBBER INVESTMENT CORP
Registered Office :	136/11 Pho Quang St, Phu Nhuan, Ho Chi Minh
Country :	Vietnam
Date of Incorporation :	27.06.2014
Legal Form :	Joint Stock Company
Line of Business :	Trader of Rubber & Products
No. of Employees	05

RATING & COMMENTS

MIRA’s Rating :

NB

RATING		STATUS	PROPOSED CREDIT LINE
--	NB	New Business	--

Status :	New Business
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 – June 1, 2014

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

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 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

Company name and address

Company Details
Organization Name	:	VIETNAM RUBBER INVESTMENT CORP
Address	:	136/11 Pho Quang St, Phu Nhuan, Ho Chi Minh
Country	:	Vietnam
Phone (S)	:	[+84] 8-38277464
Facsimile	:	[+84] 8-38277461
Primary Business Activity	:	Trader
Key Industry	:	Rubber & Products

Key Facts
Registered Legal Address	:	136/11 Pho Quang St, Phu Nhuan, Ho Chi Minh
Operational Address	:	136/11 Pho Quang St, Phu Nhuan, Ho Chi Minh
Trading Name	:	VIETRUBBER CORP
Issuing Authority	:	Dept. of Planning & Investment - Ho Chi Minh
License Number	:	0312835967
License Status	:	License exists - Normal.
Legal Form - Category	:	Joint Stock Company
Legal Form	:	Corporation
Legal Form - Abbreviation	:	CORP
Operational Status of Business	:	Normal
Date of Registration	:	27 Jun, 2014
Employees	:	5
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	:	VIETNAM RUBBER INVESTMENT CORP
Primary Business Activity	:	Trader
Primary Industry	:	Rubber & Products
Office Contact Details
Operating Address	:	136/11 Pho Quang St, Phu Nhuan, Ho Chi Minh
Tel	:	[+84] 8-38277464
Fax	:	[+84] 8-38277461
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	:	0312835967
Date of Issuance	:	27 Jun, 2014

DIRECTORS/MANAGEMENT

Key Person

Legal Title	:	Managing Director
Name	:	Ms. Nguyen Thi Nhung
Nationality	:	Vietnamese

COMPANY DIRECTORS

1
Personal Unique Identifier	:	MI03757547
Name	:	Ms. Nguyen Thi Nhung

NEGATIVE INFORMATION

REPUTATION

Due to the recent incorporation of the VIETNAM RUBBER INVESTMENT CORP, and the relatively small nature of its business, no meaningful points of reference in terms of reputation within the respective industry was possible.

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 - Secured with Post-dated checks 30~60 days

Purchasing

Type	Terms
Local	Cash on delivery (COD) Credit - Secured with Post-dated checks 30~60 days

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
Rubber products	Trading

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Fabricated rubber products, nspf	3069	Trading

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Rubbers & articles thereof	4000	Trading

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of VIETNAM RUBBER INVESTMENT CORP is Trading - Finished products.

Key product include :

Rubber products

DOMESTIC SALES & PURCHASES

Annual Sales Analysis	Percentage
Domestic Sales	100%
International Sales (Export)	0%

Annual Purchases Analysis	Percentage
Local Purchases	100%
Imports	0%

LOCAL BRANCHES & MANAGEMENT

Branch	:	VIETNAM RUBBER INVESTMENT CORP - DISTRICT 3, HO CHI MINH
Branch Address	:	5Fl Pax Sky Bldg 34A Pham Ngoc Thach St Ward 6, District 3, Ho Chi Minh

OFFICE & FACILITIES

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

Name	:	VIETNAM RUBBER INVESTMENT CORP - PHU NHUAN, HO CHI MINH
Primary Use	:	Office & Administration facilities
Address	:	136/11 Pho Quang St, Phu Nhuan, Ho Chi Minh
Country	:	Vietnam
Status	:	Operational

NOTES & COMMENt

Na

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.42
UK Pound	1	Rs.100.11
Euro	1	Rs.79.74

INFORMATION DETAILS

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