MIRA INFORM REPORT

Report Date :

09.12.2014

IDENTIFICATION DETAILS

Name :	HUU NGHI PLASTIC COMPOUNDS JSC

Registered Office :	Lot 1 Thuy Van Industrial Zone Thuy Van Commune, Viet Tri, Phu Tho

Country :	Vietnam

Date of Incorporation :	25.06.2013

Legal Form :	Joint Stock Company

Line of Business :	Subject is manufacturing - Finished products. Key product include : Plastic resins

No of Employees :	12

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 :	Slow but correct
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 – September 30, 2014

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

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	:	HUU NGHI PLASTIC COMPOUNDS JSC ⁽¹⁾
Address	:	Lot 1 Thuy Van Industrial Zone Thuy Van Commune, Viet Tri, Phu Tho
Country	:	Vietnam
Phone (S)	:	[+84] 210-3952434
Facsimile	:	[+84] 210-3952250
Email	:	info@huunghiplastic.com.vn
Website	:	http://huunghiplastic.com.vn/
Primary Business Activity	:	Manufacturer
Key Industry	:	Plastics & Products

Key Facts

Registered Legal Address	:	Lot 1 Thuy Van Industrial Zone Thuy Van Commune, Viet Tri, Phu Tho
Operational Address	:	Lot 1 Thuy Van Industrial Zone Thuy Van Commune, Viet Tri, Phu Tho
Issuing Authority	:	Department of Planning and Investment - National
License Number	:	2600888133
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	:	25 Jun, 2013
Employees	:	12
Capital	:	US$ 472,956
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.

DIRECTORS/MANAGEMENT

COMPANY MANAGEMENT

Management Listings

	Name	Nationality	Job Description	Dept. / Division
1	Ms. Dao Thi Lanh	Vietnamese	Chief Accountant	-

Management Details - 1

Personal Unique Identifier	:	MI03692794
Name	:	Ms. Dao Thi Lanh
Date of Birth	:	1979

COMPANY DIRECTORS

1
Personal Unique Identifier	:	MI03692782
Name	:	Mr. Nguyen Hoai Mai
Date of Birth	:	1958

NEGATIVE INFORMATION

REPUTATION

Due to the recent incorporation of the HUU NGHI PLASTIC COMPOUNDS JSC, 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

INTERNATIONAL TRADE - Activity & Markets

Country / Region	Estimated level of importance	Trading Activity
Asia / Pacific	Medium	Importing
China	Medium	Importing
Taiwan	Medium	Importing
Thailand	Medium	Importing

SHARE & SHARE CAPITAL INFORMATION

CAPITAL (Currency: VND - Vietnam Dong)

Authorized Capital

₫ 10,000,000,000

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

Import

Letter of Credit (At-sight)

Telegraphic Transfer (T/T) - Executed at time of transaction

GROUP STRUCTURE & AFFILIATED COMPANIES

STRATEGIC PARTNER/S & ALLIANCES

Group / Alliance name

HUU NGHI GROUP

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

Today's Exchange rate

1.00 VND

Vietnam Dong

0.000047 USD

United States Dollars

ADDITIONAL INFORMATION

Report Details

Country	:	Vietnam
Business Entity Name	:	HUU NGHI PLASTIC COMPOUNDS JSC
Primary Business Activity	:	Manufacturer
Primary Industry	:	Plastics & Products
Office Contact Details
Operating Address	:	Lot 1 Thuy Van Industrial Zone Thuy Van Commune, Viet Tri, Phu Tho
Tel	:	[+84] 210-3952434
Fax	:	[+84] 210-3952250
Email	:	info@huunghiplastic.com.vn
Website Details
Website	:	http://huunghiplastic.com.vn/
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	:	2600888133

Key Person

Legal Title	:	Managing Director
Name	:	Mr. Nguyen Hoai Mai
Nationality	:	Vietnamese

Primary Products

Products / Materials / Services Description	Activity
Plastic resins	Manufacturing

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Plastics materials and resins	2821	Manufacturing

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Articles of plastics (inc polymers & resins)	3926	Manufacturing

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of HUU NGHI PLASTIC COMPOUNDS JSC is Manufacturing - Finished products.

Key product include :

Plastic resins

An integral part of the core business includes:

Distribution

Supplementary Business

In addition to the core business, HUU NGHI PLASTIC COMPOUNDS JSC also is engaged in the following areas of business:

1. Importing

Importing - Raw materials

DOMESTIC SALES & PURCHASES

Annual Sales Analysis	Percentage
Domestic Sales	100%

Annual Purchases Analysis	Percentage
Local Purchases	20%
Imports	80%

BANK DETAILS

Bank Name	:	VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY & TRADE
Global Identifier	:	32404058
Branch	:	Hoan Kiem Dist,Hanoi
Branch Address	:	VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE - PHU THO
SWIFT Code	:	ICBVVNVX

SHAREHOLDERS

Total number of shareholders	:	4
Total number of shares	:	n/a

Currency

VND - Vietnam Dong

No.	Shareholders	Country	Shares
No.	Shareholders	Country	Number	Amount (VND)	%
1	Mr. Nguyen Chan Chi	Vietnam	n/a	n/a	33.33
2	Mr. Vu Hung Son	Vietnam	n/a	n/a	33.33
3	Mr. Nguyen Hoai Mai	Vietnam	n/a	n/a	16.67
4	Mr. Tong Sy Bao Long	Vietnam	n/a	n/a	16.67
Total			n/a	n/a	100.00

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.

OFFICE & FACILITIES

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

Name	:	HUU NGHI PLASTIC COMPOUNDS JSC - VIET TRI, PHU THO
Primary Use	:	Office & Administration facilities
Address	:	Lot 1 Thuy Van Industrial Zone Thuy Van Commune, Viet Tri, Phu Tho
Country	:	Vietnam
Status	:	Operational

COMPANY HISTORY

Date	Details
2014 - Jun	Commenced business operations.

NOTES & COMMENTS

N/a

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.93
UK Pound	1	Rs.96.37
Euro	1	Rs.76.10

INFORMATION DETAILS

Analysis Done by :	SUM

Report Prepared by :	SMN

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.