MIRA INFORM REPORT

Report Date :

04.07.2014

IDENTIFICATION DETAILS

Name :	AN KHANG JSC
Registered Office :	18 Gia Tu B Lane Pho Cho Kham Thien St Trung Phung Ward, Dong Da, Hanoi
Country :	Vietnam
Date of Incorporation :	08.05.2006
Legal Form :	Joint Stock Company
Line of Business :	Importer of Agricultural Products
No. of Employees :	10

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 – March 31, 2014

Country Name	Previous Rating (31.12.2013)	Current Rating (31.03.2014)
Vietnam	B1	B1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately 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	:	AN KHANG JSC
Address	:	100 Thai Thinh St, Dong Da, Hanoi
Country	:	Vietnam
Phone (S)	:	[+84] 4-35379080
Facsimile	:	[+84] 4-35160047
Primary Business Activity	:	Importer
Key Industry	:	Agricultural Products

DIRECTORS/MANAGEMENT

Key Person

Legal Title	:	Managing Director
Name	:	Mr. Nguyen Anh Tuan
Nationality	:	Vietnamese

COMPANY MANAGEMENT

Management Listings

	Name	Nationality	Job Description	Dept. / Division
1	Ms. Nguyen Thi Thu	Vietnamese	Chief Accountant	-

Management Details - 1

Personal Unique Identifier	:	MI03729864
Name	:	Ms. Nguyen Thi Thu
Date of Birth	:	1962

COMPANY DIRECTORS

1
Personal Unique Identifier	:	MI03492153
Name	:	Mr. Nguyen Anh Tuan
Date of Birth	:	28 Apr, 1968

NEGATIVE INFORMATION

REPUTATION

Reference checking for the purpose of establishing AN KHANG 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

Capital

:

US$ 142,248

CAPITAL (Currency: VND - Vietnam Dong)

Authorized Capital

:

₫ 3,000,000,000

SHAREHOLDERS

Total number of shareholders	:	3
Total number of shares	:	n/a

Currency

:

VND - Vietnam Dong

No.	Shareholders	Country	Shares
			Number	Amount (VND)	%
1	Mr. Nguyen Anh Tuan	Vietnam	n/a	n/a	33.34
2	Mr. Nguyen Ngoc Khang	Vietnam	n/a	n/a	33.33
3	Ms. Nguyen Thi Thu	Vietnam	n/a	n/a	33.33
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.

PAYMENT INFORMATION

DOMESTIC SALES & PURCHASES

Annual Sales Analysis	Percentage
Domestic Sales	100%

Annual Purchases Analysis	Percentage
Local Purchases	20%
Imports	80%

PAYMENT TERMS

Selling

Type	Terms
Local	Cash on delivery (COD) Credit - Unsecured 30~60 days

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

N/a

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.

ADDITIONAL INFORMATION

Key Facts
Registered Legal Address	:	18 Gia Tu B Lane Pho Cho Kham Thien St Trung Phung Ward, Dong Da, Hanoi
Operational Address	:	100 Thai Thinh St, Dong Da, Hanoi
Issuing Authority	:	Dept. of Planning & Investment - Hanoi
License Number	:	0103012075
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	:	8 May, 2006
Employees	:	10

Report Details
Country	:	Vietnam
Business Entity Name	:	AN KHANG JSC
Primary Business Activity	:	Importer
Primary Industry	:	Agricultural Products
Office Contact Details
Operating Address	:	100 Thai Thinh St, Dong Da, Hanoi
Tel	:	[+84] 4-35379080
	:	[+84] 4-35379081
Fax	:	[+84] 4-35160047
	:	[+84] 4-35379082
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	:	0101936613

 Primary Products

Products / Materials / Services Description	Activity
Animal feed	Importing, Trading
Animal feed raw materials	Importing, Trading
Feed additives	Importing, Trading
Fish food	Importing, Trading

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Prepared feeds, nspf	2048	Importing, Trading

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Poultry feeds, prepared	2309901020	Importing, Trading
Preparations used in animal feeding	2309	Importing, Trading

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of AN KHANG JSC is Importing - Finished products.

Key products include:

Animal feed

Animal feed raw materials

Feed additives

Fish food

Supplementary Business

In addition to the core business, AN KHANG JSC also is engaged in the following areas of business:

Trading

Trading - Finished products

BANK DETAILS

Bank Name	:	MEKONG HOUSING BANK
Global Identifier	:	P0386204
Branch	:	District 3,Ho Chi Minh
Branch Address	:	9 Vo Van Tan St Ward 6 District 3 Ho Chi Minh (Head Office)
SWIFT Code	:	MHBBVNVX
Bank Name	:	VIETNAM INTERNATIONAL COMMERCIAL JOINT STOCK BANK
Global Identifier	:	P2461558
Branch Address	:	HANOI
SWIFT Code	:	VNIBVNVX

LOCAL BRANCHES & MANAGEMENT

Branch	:	AN KHANG JSC - NGO QUYEN DIST, HAIPHONG
Branch Address	:	Ngo Quyen Dist, Haiphong

INTERNATIONAL TRADE - Activity & Markets
Country / Region	Estimated level of importance	Trading Activity
Asia / Pacific	Medium	Importing
India	Medium	Importing
Taiwan	Medium	Importing

REAL ESTATE OWNERSHIP

The following property / ies are owned by AN KHANG JSC:

Property Name	:	AN KHANG JSC - DONG DA, HANOI
Type of Property	:	Office & Administration
Address	:	100 Thai Thinh St, Dong Da, Hanoi

NOTES & COMMENTS

N/a

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.59.72
UK Pound	1	Rs.102.45
Euro	1	Rs.81.54

INFORMATION DETAILS

Analysis Done by :	SUB
Report Prepared by :	NNA

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.