MIRA INFORM REPORT

Report Date :

13.05.2014

IDENTIFICATION DETAILS

Name :	MRB VIETNAM CO LTD
Registered Office :	CP2 KP X1 Cau Dien Ward, Nam Tu Liem, Hanoi
Country :	Viet Nam
Date of Incorporation :	07.08.2013
Legal Form :	Company Limited
Line of Business :	Trader of Consumer 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)
Viet Nam	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

VIET NAM - 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

Organization Name	:	MRB VIETNAM CO LTD
Address	:	24 Chua Ha St Quan Hoa Ward, Cau Giay, Hanoi
Country	:	Vietnam
Phone (S)	:	[+84] 4-38398882
Facsimile	:	[+84] 4-38398893
Email	:	jason.mrb86@gmail.com
Website	:	http://www.mrb.vn
Primary Business Activity	:	Trader
Key Industry	:	Consumer Products

Registered Legal Address	:	CP2 KP X1 Cau Dien Ward, Nam Tu Liem, Hanoi
Operational Address	:	24 Chua Ha St Quan Hoa Ward, Cau Giay, Hanoi
Issuing Authority	:	Dept. of Planning & Investment - Hanoi
License Number	:	0106259468
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	:	7 Aug, 2013
Employees	:	10
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.

Country	:	Vietnam
Business Entity Name	:	MRB VIETNAM CO LTD
Primary Business Activity	:	Trader
Primary Industry	:	Consumer Products
Office Contact Details
Operating Address	:	24 Chua Ha St Quan Hoa Ward, Cau Giay, Hanoi
Tel	:	[+84] 4-38398882
Fax	:	[+84] 4-38398893
Email	:	jason.mrb86@gmail.com jason.mrb86@mrb.vn
Website Details
Website	:	http://www.mrb.vn
Status	:	Normal - operational
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	:	0106259468

DIRECTORS/MANAGEMENT

Key Person

Legal Title	:	Managing Director
Name	:	Mr. Nguyen Chi Hien
Nationality	:	Vietnamese

COMPANY DIRECTORS

1
Personal Unique Identifier	:	MI03695610
Name	:	Mr. Nguyen Chi Hien
Date of Birth	:	1987

NEGATIVE INFORMATION

REPUTATION

Due to the recent incorporation of the MRB VIETNAM CO LTD, 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

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

DOMESTIC SALES & PURCHASES

Annual Sales Analysis	Percentage
Domestic Sales	5%
International Sales (Export)	95%

Annual Purchases Analysis	Percentage
Local Purchases	100%

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

N/a

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

N/a

ADDITIONAL INFORMATION

Primary Products

Products / Materials / Services Description	Activity
Agricultural products	Trading, Exporting
Barite powder	Trading, Exporting
Calcium carbonate	Trading, Exporting
Cinnamon	Trading, Exporting
Minerals	Trading, Exporting

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Agricultural Production-Crops	0100	Trading, Exporting
Food and Kindred Products	2000	Trading, Exporting
Food products, nspf	2099	Trading, Exporting
Minerals and earths, ground or otherwise treated	3295	Trading, Exporting
Nonmetallic mineral products, nspf	3299	Trading, Exporting
Nonmetallic minerals, nspf	1499	Trading, Exporting

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Calcium carbonate	2836500000	Trading, Exporting
Cinnamon and cinnamon-tree flowers	0906	Trading, Exporting
Food preparations	2106	Trading, Exporting
Mineral substances nesoi	2530	Trading, Exporting
Quicklime	2522100000	Trading, Exporting
Quicklime, slaked lime and hydraulic lime	2522	Trading, Exporting
Seeds of anise or badian	0909100000	Trading, Exporting
Seeds, anise, badian, fennel, coriander, cumin etc	0909	Trading, Exporting

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

Products / Materials / Services Description	Ranking	Activity
Quicklime	Primary	Trading, Exporting
Star aniseeds	Primary	Trading, Exporting
Talcum	Primary	Trading, Exporting

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of MRB VIETNAM CO LTD is Trading - General products.

Key products include :

Agricultural products

Barite powder

Calcium carbonate

Cinnamon

Minerals

Quicklime

Star aniseeds

Talcum

Supplementary Business

In addition to the core business, MRB VIETNAM CO LTD also is engaged in the following areas of business:

Exporting

Exporting - Finished products

Exporting - Minerals

BANK DETAILS

Bank Name	:	VIETNAM TECHNOLOGICAL & COMMERCIAL JOINT STOCK BANK
Global Identifier	:	32408999
Branch	:	Hoan Kiem Dist,Hanoi
Branch Address	:	VIETNAM TECHNOLOGICAL
SWIFT Code	:	VTCBVNVX

INTERNATIONAL TRADE - Activity & Markets

Country / Region	Estimated level of importance	Trading Activity
Asia / Pacific	Medium	Exporting
India	Medium	Exporting
Korea, South (Republic of Korea)	Medium	Exporting
Thailand	Medium	Exporting

OFFICE & FACILITIES

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

Name	:	MRB VIETNAM CO LTD - CAU GIAY, HANOI
Primary Use	:	Office & Administration facilities
Address	:	24 Chua Ha St Quan Hoa Ward, Cau Giay, Hanoi
Country	:	Vietnam
Ownership of Property	:	Rented / Leased
Status	:	Operational

NOTES & COMMENTS

N/a

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.59.73
UK Pound	1	Rs.100.82
Euro	1	Rs.82.22

INFORMATION DETAILS

Analysis Done by :	DIV
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.