MIRA INFORM REPORT

Report Date :

29.08.2014

IDENTIFICATION DETAILS

Name :	PHUC THINH BAMBOO AND RATTAN CO LTD⁽¹⁾

Registered Office :	Luu Thuong Hamlet Phu Tuc Commune, Phu Xuyen Dist, Hanoi

Country :	Vietnam

Date of Incorporation :	05.09.2011

Legal Form :	Company Limited

Line of Business :	Manufacturer of Furniture

No. of Employees	60

RATING & COMMENTS

MIRA’s Rating :

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 1, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Vietnam

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

REGISTERED NAME & COMPANY SUMMARY

Company Details
Organization Name	:	PHUC THINH BAMBOO AND RATTAN CO LTD⁽¹⁾
Address	:	Luu Thuong Hamlet Phu Tuc Commune, Phu Xuyen Dist, Hanoi
Country	:	Vietnam
Phone (S)	:	[+84] 4-33605382
Facsimile	:	[+84] 4-33915282
Email	:	sales@phucthinhhandicraft.com
Website	:	http://www.phucthinhhandicraft.com
Primary Business Activity	:	Manufacturer
Key Industry	:	Furniture

Key Facts
Registered Legal Address	:	Luu Thuong Hamlet Phu Tuc Commune, Phu Xuyen Dist, Hanoi
Operational Address	:	Luu Thuong Hamlet Phu Tuc Commune, Phu Xuyen Dist, Hanoi
Trading Name	:	PHUC THINH BARA PHUC THINH EXPORT BAMBOO AND RATTAN
Issuing Authority	:	Dept. of Planning & Investment - Hanoi
License Number	:	0105484830
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	:	5 Sep, 2011
Employees	:	60
Capital	:	US$ 227,769
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.

Report Details

Country	:	Vietnam
Business Entity Name	:	PHUC THINH BAMBOO AND RATTAN CO LTD
Primary Business Activity	:	Manufacturer
Primary Industry	:	Furniture
Office Contact Details
Operating Address	:	Luu Thuong Hamlet Phu Tuc Commune, Phu Xuyen Dist, Hanoi
Tel	:	[+84] 4-33605382
	:	[+84] 4-33788231
Mobile	:	[+84]-915211308
	:	[+84]-985663246
Fax	:	[+84] 4-33915282
Email	:	sales@phucthinhhandicraft.com
Website Details
Website	:	http://www.phucthinhhandicraft.com
Status	:	Normal - operational
Country of Registration	:	Vietnam
Ownership Type	:	Registered ownership by Subject Business Entity
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	:	0105484830
Date of Issuance	:	5 Sep, 2011

DIRECTORS/MANAGEMENT

Key Person

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

COMPANY DIRECTORS

1
Personal Unique Identifier	:	MI03757866
Name	:	Mr. Nguyen Van Trinh
Date of Birth	:	1973

NEGATIVE INFORMATION

	REPUTATION
	Reference checking for the purpose of establishing PHUC THINH BAMBOO AND RATTAN 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

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

₫ 4,800,000,000

SHAREHOLDERS

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

Currency

VND - Vietnam Dong

No.	Shareholders	Country	Shares
No.	Shareholders	Country	Number	Amount (VND)	%
1	Mr. Nguyen Van Trinh	Vietnam	n/a	n/a	n/a
2	Ms. Nguyen Thi Lan	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

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

GROUP STRUCTURE & AFFILIATED COMPANIES

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

Today's Exchange rate

1.00 VND
Vietnam Dong

0.000047 USD
United States Dollars

ADDITIONAL INFORMATION

Primary Products

Products / Materials / Services Description	Activity
Bamboo handicrafts	Manufacturing, Exporting
Bamboo sticks	Manufacturing, Exporting
Hampers	Manufacturing, Exporting
Incense	Manufacturing, Exporting
Placemats	Manufacturing, Exporting

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Furniture and fixtures, nspf	2599	Manufacturing, Exporting

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Baskets nesoi and bags, of bamboo, whether or not lined	4602101100	Manufacturing, Exporting
Furniture of other materials, including cane, osier, bamboo or similar materials	9403800000	Manufacturing, Exporting
Furniture parts of rattan	9403902540	Manufacturing, Exporting

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

Products / Materials / Services Description	Ranking	Activity
Rattan handicrafts	Primary	Manufacturing, Exporting
Storage baskets	Primary	Manufacturing, Exporting
Trunks	Primary	Manufacturing, Exporting
Vases	Primary	Manufacturing, Exporting

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of PHUC THINH BAMBOO AND RATTAN CO LTD is Manufacturing - Finished products.

Key products include :

Bamboo handicrafts

Bamboo sticks

Hampers

Incense

Placemats

Rattan handicrafts

Storage baskets

Trunks

Vases

An integral part of the core business includes:

Distribution

Supplementary Business

In addition to the core business, PHUC THINH BAMBOO AND RATTAN CO LTD also is engaged in the following areas of business:

Exporting

Exporting - Finished products

DOMESTIC SALES & PURCHASES

Annual Sales Analysis	Percentage
Domestic Sales	90%
International Sales (Export)	10%

Annual Purchases Analysis	Percentage
Local Purchases	100%

BANK DETAILS

Bank Name	:	JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM
Global Identifier	:	P1072025
Branch	:	Hanoi
Branch Address	:	HA TAY
SWIFT Code	:	BFTVVNVX

INTERNATIONAL TRADE - Activity & Markets

Country / Region	Estimated level of importance	Trading Activity
Asia / Pacific	Medium	Exporting
India	Medium	Exporting
Pakistan	Medium	Exporting

OFFICE & FACILITIES

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

Name	:	PHUC THINH BAMBOO AND RATTAN CO LTD - PHU XUYEN DIST, HANOI
Primary Use	:	Office & Administration facilities
Address	:	Luu Thuong Hamlet Phu Tuc Commune, Phu Xuyen Dist, Hanoi
Country	:	Vietnam
Status	:	Operational

NOTES & COMMENTS

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.47
UK Pound	1	Rs.100.35
Euro	1	Rs.79.86

INFORMATION DETAILS

Analysis Done by :	SUM

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%)

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.