MIRA INFORM REPORT

Report Date :

27.08.2014

IDENTIFICATION DETAILS

Name :	DAI PHU MARITIME TRANSPORT CO LTD
Registered Office :	Xuan Bang Hamlet Tuy Van Commune, Thai Thuy Dist, Thai Binh
Country :	Vietnam
Date of Incorporation :	08.10.2010
Legal Form :	Private Company with Limited Liability
Line of Business :	Subject is Specialized professional services, including: Marine transportation
No. of Employees	30

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 :	In Process of closing down
Payment Behaviour :	--
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 – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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 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	:	DAI PHU MARITIME TRANSPORT CO LTD^(1^)
Address	:	Xuan Bang Hamlet Tuy Van Commune, Thai Thuy Dist, Thai Binh
Country	:	Vietnam
Phone (S)	:	[+84] 36-3859328
Facsimile	:	[+84] 36-3766358
Primary Business Activity	:	Service
Key Industry	:	Transportation

Key Facts
Registered Legal Address	:	Xuan Bang Hamlet Tuy Van Commune, Thai Thuy Dist, Thai Binh
Operational Address	:	Xuan Bang Hamlet Tuy Van Commune, Thai Thuy Dist, Thai Binh
Trading Name	:	DAI PHU MTS
Issuing Authority	:	Dept. of Planning & Investment - Thai Binh
License Number	:	1000793777
License Status	:	License exists - But owners applying for closure.
Legal Form - Category	:	Private Company with Limited Liability
Legal Form	:	Company Limited
Legal Form - Abbreviation	:	CO LTD
Operational Status of Business	:	Office currently still exists.
Date of Registration	:	8 Oct, 2010
Employees	:	30
Capital	:	n/a^(2)
Note	:	^(1) Legal status of the English corporate name The English name of the Subject Business Entity (SBE) is a randomly selected translation / transliteration made by the owners of the SBE. It is not a registered English corporate name, but simply a translation / transliteration of the local language name. ^(2) Not applicable. According to the corporate statutory laws for this type of Legal Form - Category(Private Company with Limited Liability) in Vietnam, there is no requirement for Authorized Capital.

Report Details

Country	:	Vietnam
Business Entity Name	:	DAI PHU MARITIME TRANSPORT CO LTD
Primary Business Activity	:	Service
Primary Industry	:	Transportation
Office Contact Details
Operating Address	:	Xuan Bang Hamlet Tuy Van Commune, Thai Thuy Dist, Thai Binh
Tel	:	[+84] 36-3859328
Fax	:	[+84] 36-3766358
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	:	1000793777

DIRECTORS/MANAGEMENT

Key Person

Legal Title	:	Managing Director
Name	:	Mr. Nguyen Nam Dan
Nationality	:	Vietnamese

COMPANY DIRECTORS

1
Personal Unique Identifier	:	MI03755182
Name	:	Mr. Nguyen Nam Dan

NEGATIVE 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 (Private Company with Limited Liability) in Vietnam, there is no public disclosure of Shareholders.

PAYMENT INFORMATION

Na

GROUP STRUCTURE & AFFILIATED COMPANIES

Na

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
Marine transportation	Service
Maritime transport	Service

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Sea Domestic Freight Trans	4424	Service
Sea Foreign Freight Trans	4412	Service
Transportation Svcs, NEC	4789	Service
Water Transportation	4400	Service

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Business services, health, financial/insur. legal/real estate, hotels, and misc repairs	9900	Service
Deep sea domestic freight transportation of freight	9842	Service
Deep sea foreign freight transportation of freight	9841	Service
Freight transportation arrangement, nvocc, customs brokerage	9852	Service

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of DAI PHU MARITIME TRANSPORT CO LTD is Specialized professional services, including:

Marine transportation

Key service include :

Maritime transport

COMPANY HISTORY

Date	Details
2014 - Aug	As per current investigation it was confirmed that the subject company is preparing to be out of business.

NOTES & COMMENTS

Na

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.50
UK Pound	1	Rs.100.33
Euro	1	Rs.79.91

INFORMATION DETAILS

Analysis Done by :	KAR
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.