MIRA INFORM REPORT

Report Date :

27.11.2014

IDENTIFICATION DETAILS

Name :	SAO MAI INVESTMENT AND IMPORT EXPORT JSC
Registered Office :	522 Ton Duc Thang St An Dong Commune, An Duong Dist, Hai Phong
Country :	Vietnam
Date of Incorporation :	13.05.2010
Legal Form :	Joint Stock Company
Line of Business :	Engaged in trading Agricultural product such as Cashews, Cassava, Corn, Pepper, Potato starch, Maize, Chilies, Tapioca & Rice
No of Employees :	05

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 – 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	:	SAO MAI INVESTMENT AND IMPORT EXPORT JSC ^(1)
Address	:	522 Ton Duc Thang St An Dong Commune, An Duong Dist, Hai Phong
Country	:	Vietnam
Phone (S)	:	[+84] 31-3571023
Facsimile	:	[+84] 31-3527559
Email	:	samexco@gmail.com
Website	:	http://www.samexco.vn
Primary Business Activity	:	Trader
Key Industry	:	Agricultural Products

Key Facts
Registered Legal Address	:	522 Ton Duc Thang St An Dong Commune, An Duong Dist, Hai Phong
Operational Address	:	522 Ton Duc Thang St An Dong Commune, An Duong Dist, Hai Phong
Trading Name	:	SAMEXCO
Issuing Authority	:	Dept. of Planning & Investment - Hai Phong
License Number	:	0200821451
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	:	13 May, 2010
Employees	:	5
Capital	:	US$ 237,439
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

Key Person

Legal Title	:	Managing Director
Name	:	Ms. Nguyen Thi Kim Lien
Nationality	:	Vietnamese

COMPANY MANAGEMENT

Management Listings

	Name	Nationality	Job Description	Dept. / Division
1	Ms. Vu Thi Mai Thuong	Vietnamese	Chief Accountant	-

Management Details - 1

Personal Unique Identifier	:	MI03797493
Name	:	Ms. Vu Thi Mai Thuong
Date of Birth	:	1989

COMPANY DIRECTORS

1
Personal Unique Identifier	:	MI03797477
Name	:	Ms. Nguyen Thi Kim Lien
Date of Birth	:	1964

NEGATIVE INFORMATION

REPUTATION

Reference checking for the purpose of establishing SAO MAI INVESTMENT AND IMPORT EXPORT 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

:

₫ 5,000,000,000

SHAREHOLDERS

Total number of shareholders	:	5
Total number of shares	:	n/a

Currency

:

VND - Vietnam Dong

No.	Shareholders	Country	Shares
			Number	Amount (VND)	%
1	Ms. Nguyen Thi Kim Lien	Vietnam	n/a	n/a	60.00
2	Mr. Bui Xuan Toan	Vietnam	n/a	n/a	10.00
3	Mr. Pham Van Dai	Vietnam	n/a	n/a	10.00
4	Mr. Vu Xuan Duong	Vietnam	n/a	n/a	10.00
5	Ms. Nguyen Thi Kim Tuyen	Vietnam	n/a	n/a	10.00
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

Supplementary Business

In addition to the core business, SAO MAI INVESTMENT AND IMPORT EXPORT JSC also is engaged in the following areas of business:

Exporting

Exporting - Finished products

Importing

Importing - Finished products

DOMESTIC SALES & PURCHASES

Annual Sales Analysis	Percentage
International Sales (Export)	100%

Annual Purchases Analysis	Percentage
Local Purchases	80%
Imports	20%

PAYMENT TERMS

Selling

Type	Terms
Export	Letter of Credit (At-sight) Telegraphic Transfer (T/T) - Received at time of transaction

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

INTERNATIONAL TRADE - Activity & Markets

Country / Region	Estimated level of importance	Trading Activity
Asia / Pacific	Medium	Exporting
Europe	High	Importing
China	Medium	Exporting
Netherlands	Medium	Importing
Poland	Medium	Importing

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	:	SAO MAI INVESTMENT AND IMPORT EXPORT JSC
Primary Business Activity	:	Trader
Primary Industry	:	Agricultural Products
Office Contact Details
Operating Address	:	522 Ton Duc Thang St An Dong Commune, An Duong Dist, Hai Phong
Tel	:	[+84] 31-3571023
Fax	:	[+84] 31-3527559
Email	:	samexco@gmail.com
Website Details
Website	:	http://www.samexco.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	:	0200821451

Primary Products

Products / Materials / Services Description	Activity
Cashews	Trading
Cassava	Trading
Corn	Trading
Pepper	Trading
Potato starch	Trading

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Agricultural Production-Crops	0100	Trading
Corn	0115	Trading
Rice	0112	Trading

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Cashews, prepared or preserved nesoi	2008191040	Trading
Cassava (manioc), prepared or preserved	2008996500	Trading
Corn (maize)	1005	Trading
Pepper, genus piper; genus capsicum or pimenta	0904	Trading
Potato starch	1108130090	Trading
Rice	1006	Trading

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

Products / Materials / Services Description	Ranking	Activity
Rice	Primary	Trading

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of SAO MAI INVESTMENT AND IMPORT EXPORT JSC is Trading - Finished products.

Key products include :

Cashews

Cassava

Corn

Pepper

Potato starch

Rice

Maize

Tapioca

Chillies

BANK DETAILS

Bank Name	:	VIETNAM EXPORT IMPORT COMMERCIAL JOINT STOCK BANK
Global Identifier	:	32408823
Branch	:	District 1,Ho Chi Minh
Branch Address	:	VIETNAM EXPORT IMPORT COMMERCIAL JOINT STOCK BANK - HAIPHONG
SWIFT Code	:	EBVIVNVX

OFFICE & FACILITIES

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

Name	:	SAO MAI INVESTMENT AND IMPORT EXPORT JSC - AN DUONG DIST, HAI PHONG
Primary Use	:	Office & Administration facilities
Address	:	522 Ton Duc Thang St An Dong Commune, An Duong Dist, Hai Phong
Country	:	Vietnam
Ownership of Property	:	Rented / Leased
Status	:	Operational

PREVIOUS BUSINESS LICENSE/S

License Date	License No.
24 Jun, 2008	0203004471

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.87
UK Pound	1	Rs.97.23
Euro	1	Rs.77.21

INFORMATION DETAILS

Analysis Done by :	KAR
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.