MIRA INFORM REPORT

Report Date :

26.11.2014

IDENTIFICATION DETAILS

Name :	PETROLIMEX INTERNATIONAL TRADING JSC
Registered Office :	54-56 Bui Huu Nghia St Ward 5, District 5, Ho Chi Minh
Country :	Vietnam
Financials (as on) :	December 2013
Date of Incorporation :	21.08.2010
Legal Form :	Joint Stock Company
Line of Business :	· Engaged in trading of Agricultural products, Gas, Chemicals, Oil, Plastic resins & Steel Exporter of Pepper, Natural Rubber, Mineral & Starch Importer of Iron and steel, Chemical & Electronic products
No. of Employees	225

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 :	No Complaints
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	B1	A2

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	:	PETROLIMEX INTERNATIONAL TRADING JSC ^(1)
Address	:	54-56 Bui Huu Nghia St Ward 5, District 5, Ho Chi Minh
Country	:	Vietnam
Phone (S)	:	[+84] 8-38383400
Facsimile	:	[+84] 8-38383500
Email	:	pitco@pitco.com.vn
Website	:	http://www.pitco.com.vn
Main Business Activity	:	· Engaged in trading of Agricultural products, Gas, Chemicals, Oil, Plastic resins & Steel Exporter of Pepper, Natural Rubber, Mineral & Starch Importer of Iron and steel, Chemical & Electronic products

Key Facts

Registered Legal Address

:

54-56 Bui Huu Nghia St Ward 5, District 5, Ho Chi Minh

Operational Address

:

54-56 Bui Huu Nghia St Ward 5, District 5, Ho Chi Minh

Trading Name

:

PITCO

Name History

:

Business Entity Name	Effective Date
PETROLIMEX INTERNATIONAL TRADING CO	5 Aug, 1999
PETROLIMEX INTERNATIONAL TRADING JSC	1 Oct, 2004

Issuing Authority

:

Dept. of Planning & Investment - Ho Chi Minh

License Number

:

0301776741

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

:

21 Aug, 2010

Employees

:

225

Capital

:

US$ 7,217,848

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	:	PETROLIMEX INTERNATIONAL TRADING JSC
Primary Business Activity	:	Trader
Primary Industry	:	Agricultural Products
Office Contact Details
Operating Address	:	54-56 Bui Huu Nghia St Ward 5, District 5, Ho Chi Minh
Tel	:	[+84] 8-38383400
Fax	:	[+84] 8-38383500
Email	:	pitco@pitco.com.vn
Website Details
Website	:	http://www.pitco.com.vn
Status	:	Normal - operational
Country of Registration	:	Vietnam
Ownership Type	:	Registered ownership by Subject Business Entity

DIRECTORS/MANAGEMENT

Key Person

Legal Title	:	Chairman
Name	:	Mr. Nguyen Quang Dung
Nationality	:	Vietnamese

DIRECT / INDIRECT CORPORATE PARENT DETAILS

Direct Parent	:	VIETNAM NATIONAL PETROLEUM CORP
Global Identifier	:	P1885093
Legal Form Category	:	Government-owned Enterprise
Country	:	Vietnam
Operational Address	:	1 Kham Thien St Dong Da Hanoi
Primary Business Activity	:	Manufacturer

COMPANY MANAGEMENT

Management Listings

	Name	Nationality	Job Description	Dept. / Division
1	Mr. Vu Van Cung	Vietnamese	Deputy Managing Director	-
2	Ms. Le Thuy Dao	Vietnamese	Chief Accountant	-
3	Mr. Nguyen Ngoc Hung	Vietnamese	Deputy Managing Director	-
4	Mr. Tran Xuan Lai	Vietnamese	Deputy Managing Director	-
5	Mr. Ha Huy Thang	Vietnamese	Managing Director	-

Management Details - 1

Personal Unique Identifier	:	MI01939007
Name	:	Mr. Vu Van Cung
Date of Birth	:	1963

Management Details - 2

Personal Unique Identifier	:	MI03177991
Name	:	Ms. Le Thuy Dao
Date of Birth	:	1968

Management Details - 3

Personal Unique Identifier	:	MI01939008
Name	:	Mr. Nguyen Ngoc Hung
Date of Birth	:	1954

Management Details - 4

Personal Unique Identifier	:	MI03177986
Name	:	Mr. Tran Xuan Lai
Date of Birth	:	1956

Management Details - 5

Personal Unique Identifier	:	MI01939009
Name	:	Mr. Ha Huy Thang
Date of Birth	:	1975

COMPANY DIRECTORS

1
Personal Unique Identifier	:	MI01939009
Name	:	Mr. Ha Huy Thang
Date of Birth	:	1975
2
Personal Unique Identifier	:	MI03796325
Name	:	Mr. Nguyen Quang Dung
Date of Birth	:	1972

NEGATIVE INFORMATION

REPUTATION

Reference checking for the purpose of establishing PETROLIMEX INTERNATIONAL TRADING 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 (Currency: VND - Vietnam Dong)

Authorized Capital	:	₫ 151,993,450,000
Paid-up Capital	:	₫ 128,315,000,000

Date	Authorized Capital - History
5 Aug, 1999	118,103,210,000
2011	123,765,030,000
27 Aug, 2012	128,314,550,000
Sep, 2014	151,993,450,000

Date	Paid-up Capital - History
5 Aug, 1999	97,704,790,066
2011	123,765,000,000
27 Aug, 2012	128,315,000,000

SHAREHOLDERS

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

Currency

:

VND - Vietnam Dong

No.	Shareholders	Country	Shares
			Number	Amount (VND)	%
1	VIETNAM NATIONAL PETROLEUM CORP	Vietnam	n/a	n/a	51.99
2	Undisclosed Shareholders	Vietnam	n/a	n/a	48.01
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

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
Import	Letter of Credit (At-sight) Telegraphic Transfer (T/T) - Executed at time of transaction

GROUP STRUCTURE & AFFILIATED COMPANIES

RELATED PARTIES (Subsidiaries , Joint-ventures & Affiliates)

The following provides a summary of the number of businesses that are related to PETROLIMEX INTERNATIONAL TRADING JSC:

TYPE	DOMESTIC
	TOTAL
Subsidiaries	2
Joint-Ventures	-
Minority shareholdings	-
Affiliates	-
Liaison / Representative Offices	-

Domestic

Business Entity Name	:	HANOI PETROLIMEX INTERNATIONAL TRADING CO LTD
Global Identifier	:	P1856319
Country	:	Vietnam
Relationship	:	Subsidiary
Operational Address	:	1 Thanh Cong St Thanh Cong Ward, Ba Dinh, Hanoi
Primary Business Activity	:	Trader
Industry	:	Agricultural Products

Business Entity Name	:	PETROLIMEX PAINTS CO LTD
Global Identifier	:	P1296169
Country	:	Vietnam
Relationship	:	Subsidiary
Operational Address	:	Rm 908, 9Fl Centre Point Tower 106 Nguyen Van Troi St Ward 8, Phu Nhuan, Ho Chi Minh
Primary Business Activity	:	Manufacturer
Industry	:	Chemicals

FINANCIAL INFORMATION

Financials - Summary  (Currency: USD - US Dollar)

Year	Sales	Assets	Net Income
2011 Annual	135,198,512	20,401,488	308,641
2012 Annual	95,372,457	26,796,020	1,249
2013 Annual	112,091,185	31,026,376	-835,875

Sales Trend – Analysis

2004	2005	2006	2007	2008	2009	2010	2011	2012	2013
-	-	-	-	-	-

FINANCIALS - SUMMARY (Currency: USD - US Dollar)

Year	Sales	Assets	Net Income
2006 Annual	65,002,631	13,354,843	1,140,834
2010 Annual	108,636,788	21,970,344	831,452

FINANCIAL STATEMENT - DETAILED

Balance Sheet

Currency	:	VND
Denomination	:	1
Financial Year Ending	:	December

Financial Highlights	2011 Annual	2012 Annual	2013 Annual
Current Assets(*)	311,856,000,000	430,721,000,000	524,015,000,000
Non Current Assets(*)	113,107,000,000	127,297,000,000	130,272,000,000
Non Current Liabilities(*)	38,196,000,000	32,120,000,000	26,280,000,000
Share Capital(*)	123,765,000,000	128,315,000,000	128,315,000,000
Total Reserves(*)	-	-	-
Other long term assets
Total Assets(*)	424,963,000,000	558,018,000,000	654,287,000,000
Total Liabilities(*)	214,042,000,000	353,607,000,000	471,630,000,000
Current Liabilities(*)	175,846,000,000	321,487,000,000	445,350,000,000
Long term liabilities
Shareholders Funds(*)	210,921,000,000	204,411,000,000	182,657,000,000
Current assets & short term investments	311,856,000,000	430,721,000,000	524,015,000,000
Cash & cash equivalents	80,655,000,000	76,669,000,000	168,074,000,000
Cash	23,525,000,000	8,807,000,000	54,058,000,000
Cash equivalents	57,130,000,000	67,862,000,000	114,016,000,000
Short term investments	2,101,000,000	7,735,000,000	130,000,000
Short term securities investments	6,710,000,000	8,015,000,000	410,000,000
Provision for short term investments	(4,609,000,000)	(280,000,000)	(280,000,000)
Accounts receivable	117,491,000,000	158,766,000,000	139,344,000,000
Accounts receivable trade	91,785,000,000	87,663,000,000	107,179,000,000
Trade prepayment	25,510,000,000	63,520,000,000	31,524,000,000
Others receivables	2,383,000,000	9,178,000,000	4,003,000,000
Provision for bad debts	(2,187,000,000)	(1,595,000,000)	(3,362,000,000)
I. Inventories	94,567,000,000	148,055,000,000	156,860,000,000
II. Inventories	94,567,000,000	148,055,000,000	156,860,000,000
I. Other short term asset	17,042,000,000	39,496,000,000	-
Other short term asset	6,121,000,000	11,385,000,000	6,296,000,000
Prepaid expenses	290,000,000	1,261,000,000	895,000,000
VAT deductible	5,767,000,000	21,899,000,000	47,936,000,000
Other tax receivables	4,864,000,000	4,951,000,000	4,480,000,000
II. Other short term asset	6,121,000,000	11,385,000,000	-
Long term assets	113,107,000,000	127,297,000,000	130,272,000,000
Fixed assets	110,220,000,000	115,604,000,000	115,522,000,000
Tangible fixed assets	98,393,000,000	95,796,000,000	104,654,000,000
I. Cost	118,255,000,000	122,778,000,000	138,604,000,000
I. Accumulated depreciation	19,862,000,000	26,982,000,000	33,950,000,000
Intangible fixed assets	10,986,000,000	10,668,000,000	10,853,000,000
II. Cost	11,572,000,000	11,573,000,000	12,052,000,000
II. Accumulated depreciation	586,000,000	905,000,000	1,199,000,000
Construction in progress	841,000,000	9,140,000,000	15,000,000
Long term investments	1,321,000,000	9,920,000,000	10,525,000,000
Other long term investments	3,620,000,000	9,920,000,000	10,525,000,000
Provision for long term investments	(2,299,000,000)	-	-
I. Other long term assets	1,566,000,000	1,773,000,000	4,225,000,000
Long term prepayments	1,566,000,000	1,467,000,000	4,193,000,000
II. Other long term assets	-	306,000,000	32,000,000
Total assets	424,963,000,000	558,018,000,000	654,287,000,000
Liabilities	214,042,000,000	353,607,000,000	471,630,000,000
Current liabilities	175,846,000,000	321,487,000,000	445,350,000,000
Short term borrowings	142,182,000,000	237,696,000,000	361,346,000,000
Accounts payables-trade	18,077,000,000	62,415,000,000	71,973,000,000
Advances from customers	5,301,000,000	12,021,000,000	5,584,000,000
Taxes and payable to state budget	1,308,000,000	1,368,000,000	1,012,000,000
Payable to employees	4,225,000,000	406,000,000	657,000,000
Accrued expenses payable	621,000,000	503,000,000	908,000,000
Other payables	4,132,000,000	6,401,000,000	3,435,000,000
I. Bonus and welfare funds	-	677,000,000	435,000,000
Long term liabilities	38,196,000,000	32,120,000,000	26,280,000,000
Long term borrowings	38,158,000,000	32,120,000,000	26,280,000,000
Provision funds for unemployment	38,000,000	-	-
I. Owner's equity	210,921,000,000	204,411,000,000	182,657,000,000
II. Owner's equity	210,355,000,000	204,411,000,000	182,657,000,000
Business capital	123,765,000,000	128,315,000,000	128,315,000,000
Share capital's surplus	79,314,000,000	79,314,000,000	79,314,000,000
Shares	(12,425,000,000)	(12,426,000,000)	(12,426,000,000)
Foreign exchange differences	(8,000,000)	-	-
Business development funds	4,730,000,000	180,000,000	180,000,000
Financial reserved funds	8,346,000,000	8,347,000,000	8,347,000,000
Retained earnings	6,633,000,000	681,000,000	(21,073,000,000)
Budget sources	566,000,000	-	-
II. Bonus and welfare funds	566,000,000	-	-
Total resources	424,963,000,000	558,018,000,000	654,287,000,000

Note: (*)

Financial Highlights

Income Statement

Currency	:	VND
Denomination	:	1
Financial Year Ending	:	December

Financial Highlights	2011 Annual	2012 Annual	2013 Annual
Turnover(*)	2,816,185,000,000	1,986,099,000,000	2,363,789,000,000
Profit (Loss) Before Tax(*)	8,567,000,000	330,000,000	(16,513,000,000)
Profit After Tax attributable to Shareholders(*)	6,429,000,000	26,000,000	(17,627,000,000)
Gross sales	2,816,185,000,000	1,986,099,000,000	2,363,789,000,000
Less deductions	26,073,000,000	37,954,000,000	45,290,000,000
Net income	2,790,112,000,000	1,948,145,000,000	2,318,499,000,000
Cost of goods sold	2,677,235,000,000	1,872,730,000,000	2,234,899,000,000
Gross margin	112,877,000,000	75,415,000,000	83,600,000,000
Income from financial activities	30,245,000,000	11,614,000,000	9,616,000,000
Expenses from financial activities	52,251,000,000	20,191,000,000	26,420,000,000
In which: Interest expenses	36,636,000,000	-	18,371,000,000
Selling expenses	48,185,000,000	33,504,000,000	48,617,000,000
General & administration expenses	34,395,000,000	32,651,000,000	35,227,000,000
Net income from operating activities	8,291,000,000	683,000,000	(17,048,000,000)
Extraordinary income	2,131,000,000	868,000,000	699,000,000
Extraordinary expenses	1,855,000,000	1,221,000,000	164,000,000
Extraordinary gains	276,000,000	(353,000,000)	535,000,000
Net profit before tax	8,567,000,000	330,000,000	(16,513,000,000)
Income tax	2,138,000,000	304,000,000	1,114,000,000
Net profit after tax	6,429,000,000	26,000,000	(17,627,000,000)

Note: (*)

Financial Highlights

Financial Ratios

Financial Highlights	2011 Annual	2012 Annual	2013 Annual
Growth %
Year-on-Year Growth	33.01	(29.48)	19.02
Profitability
Profit Margin (%)	0.23	0.00	(0.75)
Return on Equity (%)	3.05	0.01	(9.65)
Return on Assets (%)	1.51	0.00	(2.69)
Leverage
Total Debt Equity (Times)	1.01	1.73	2.58
Current Debt Equity (Times)	0.83	1.57	2.44
Long Term Debt to Equity	0.18	0.16	0.14
Total Asset To Total Equity	2.01	2.73	3.58
Asset Management
Total Assets Turnover (Times)	6.63	3.56	3.61
Fixed Assets Turnover (Times)	24.90	15.60	18.15
Liquidity
Current Ratio	1.77	1.34	1.18

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. Although basic financials were obtained for reference.

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
Agricultural products	Trading
Chemicals	Trading
Gas	Trading
Oil	Trading
Plastic resins	Trading

International Trade - Statistics  (Currency: USD - US Dollar)

Year	Imports	Exports	Total
2011	n/a	85,175,062	85,175,062
2012	n/a	60,084,648	60,084,648
2013	n/a	72,859,270	72,859,270

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Chemicals and Allied Products	2800	Trading
Chemicals/Allied Prdts, NEC	5169	Trading
Crude petroleum and natural gas	1311	Trading
Lubricating oils & greases	2992	Trading
Petroleum Gas Products	4925	Trading
Plastics materials and resins	2821	Trading
Steel Foundries, NEC	3325	Trading

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Articles of iron or steel	7300	Trading
Miscellaneous chemical products	3800	Trading
Natural gas, gaseous	2711210000	Trading
Oil (not crude) from petrol & bitum mineral etc,	2710	Trading
Plastics & articles thereof	3900	Trading

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

Products / Materials / Services Description	Ranking	Activity
Steel	Primary	Trading

Main Business Activity

· Engaged in trading of Agricultural products, Gas, Chemicals, Oil, Plastic resins & Steel

Exporter of Pepper, Natural Rubber, Mineral & Starch

Importer of Iron and steel, Chemical & Electronic products

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of PETROLIMEX INTERNATIONAL TRADING JSC is Trading - Finished products.

Key products include :

· Agricultural products

· Gas

· Chemicals

· Oil

· Plastic resins

· Steel

Supplementary Business

In addition to the core business, PETROLIMEX INTERNATIONAL TRADING JSC also is engaged in the following areas of business:

1. Exporting

· Exporting - Finished products

2. Importing

· Importing - Finished products

DOMESTIC SALES & PURCHASES

Annual Sales Analysis	Percentage
Domestic Sales	35%
International Sales (Export)	65%

Annual Purchases Analysis	Percentage
Local Purchases	90%
Imports	10%

BANK DETAILS

Bank Name	:	ASIA COMMERCIAL JOINT STOCK BANK
Global Identifier	:	P0075118
Branch	:	District 3,Ho Chi Minh
Branch Address	:	District 3Ho Chi Minh
SWIFT Code	:	ASCBVNVX
Bank Name	:	JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM
Global Identifier	:	32400479
Branch	:	Hoan Kiem,Hanoi
Branch Address	:	Ho Chi Minh
SWIFT Code	:	BFTVVNVX
Bank Name	:	JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM
Global Identifier	:	P1072025
Branch	:	Hanoi
Branch Address	:	31-33 Ngo Quyen Hanoi (Head Office)
SWIFT Code	:	BFTVVNVX
Bank Name	:	VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY & TRADE
Global Identifier	:	32404058
Branch	:	Hoan Kiem Dist,Hanoi
Branch Address	:	Hoan Kiem DistHanoi
SWIFT Code	:	ICBVVNVX

LOCAL BRANCHES & MANAGEMENT

Branch	:	PETROLIMEX INTERNATIONAL TRADING JSC - THU DUC, HO CHI MINH
Branch Address	:	27 Truong Son St Linh Xuan Ward, Thu Duc, Ho Chi Minh
License Status	:	License exists - Normal.
Primary use of location	:	#1. Branch Office ONLY
Branch	:	PETROLIMEX INTERNATIONAL TRADING JSC - BINH TAN DIST, HO CHI MINH
Branch Address	:	354 Highway 1A Binh Hung Hoa B Ward, Binh Tan Dist, Ho Chi Minh
License Status	:	License exists - Normal.
Primary use of location	:	#1. Branch Office ONLY
Branch	:	PETROLIMEX INTERNATIONAL TRADING JSC - TAN UYEN, BINH DUONG
Branch Address	:	Hamlet 3 Hoi Nghia Commune, Tan Uyen, Binh Duong

INTERNATIONAL TRADE - Statistics (Currency: USD - US Dollar)

Year	Imports	Exports	Total
2010	n/a	68,441,177	68,441,177

INTERNATIONAL TRADE - Activity & Markets

Country / Region	Estimated level of importance	Trading Activity
Asia / Pacific	Medium	Importing, Exporting
Europe	Medium	Exporting
North America	Medium	Exporting
China	Medium	Exporting
India	Medium	Exporting
Malaysia	Medium	Importing
Russia	Medium	Exporting
Singapore	Medium	Importing
Spain	Medium	Exporting
Thailand	Medium	Importing
USA	Medium	Exporting
United Kingdom	Medium	Exporting

OFFICE & FACILITIES

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

Name	:	PETROLIMEX INTERNATIONAL TRADING JSC - DISTRICT 5, HO CHI MINH
Primary Use	:	Office & Administration facilities
Address	:	54-56 Bui Huu Nghia St Ward 5, District 5, Ho Chi Minh
Country	:	Vietnam
Status	:	Operational

PREVIOUS BUSINESS LICENSE/S

License Date	License No.
5 Aug, 1999	103419
1 Oct, 2004	4103002720

FOREIGN EXCHANGE RAtes

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.92
UK Pound	1	Rs.97.12
Euro	1	Rs.76.93

INFORMATION DETAILS

Analysis Done by :	SUB
Report Prepared by :	MNL

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.