MIRA INFORM REPORT

Report Date :

28.11.2014

IDENTIFICATION DETAILS

Name :	RIEKER VIETNAM LTD
Registered Office :	Lot 1 Dien Nam - Dien Ngoc Industrial Zone, Dien Ban Dist, Quang Nam
Country :	Vietnam
Date of Incorporation :	31.01.2008
Legal Form :	Private Company with Limited Liability
Line of Business :	Manufacturer & Exporter of Footwear such as Leather shoes
No of Employees :	14,000

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	:	RIEKER VIETNAM LTD ^(1)
Address	:	Lot 1 Dien Nam - Dien Ngoc Industrial Zone, Dien Ban Dist, Quang Nam
Country	:	Vietnam
Phone (S)	:	[+84] 510-3743537
Facsimile	:	[+84] 510-3743539
Primary Business Activity	:	Manufacturer & Exporter of Footwear such as Leather shoes

Key Facts
Registered Legal Address		:	Lot 1 Dien Nam - Dien Ngoc Industrial Zone, Dien Ban Dist, Quang Nam
Operational Address		:	Lot 1 Dien Nam - Dien Ngoc Industrial Zone, Dien Ban Dist, Quang Nam
Issuing Authority		:	INDUSTRIAL ZONE AUTHORITY - Quang Nam
License Number		:	332043000100
License Status		:	License exists – Normal.
Legal Form - Category		:	Private Company with Limited Liability
Legal Form		:	Limited
Legal Form - Abbreviation		:	LTD
Operational Status of Business		:	Normal
Date of Registration		:	31 Jan, 2008
Employees		:	14,000
Capital		:	US$ 42,400,000
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	:	RIEKER VIETNAM LTD
Primary Business Activity	:	Manufacturer & Exporter of Footwear such as Leather shoes
Primary Industry	:	Footwear
Office Contact Details
Operating Address	:	Lot 1 Dien Nam - Dien Ngoc Industrial Zone, Dien Ban Dist, Quang Nam
Tel	:	[+84] 510-3743537
Mobile	:	[+84]-903501563
Fax	:	[+84] 510-3743539
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	:	4000395355

DIRECTORS/MANAGEMENT

Key Person

Legal Title	:	Managing Director
Name	:	Mr. Walter Bauer
Nationality	:	Austrian

COMPANY MANAGEMENT

Management Listings

	Name	Nationality	Job Description	Dept. / Division
1	Mr. Nguyen Hoai An	Vietnamese	Deputy Managing Director	-
2	Ms. Tran Thi Thanh Binh	Vietnamese	Chief Accountant	-

Management Details - 1

Personal Unique Identifier	:	MI03797491
Name	:	Mr. Nguyen Hoai An
Date of Birth	:	1965

Management Details - 2

Personal Unique Identifier	:	MI03797492
Name	:	Ms. Tran Thi Thanh Binh
Date of Birth	:	1977

COMPANY DIRECTORS

1
Personal Unique Identifier	:	MI03797473
Name	:	Mr. Walter Bauer
Date of Birth	:	1957

NEGATIVE INFORMATION

REPUTATION

Reference checking for the purpose of establishing RIEKER VIETNAM LTD'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: USD - US Dollar)

Authorized Capital

:

$ 42,400,000

SHAREHOLDERS

Total number of shareholders	:	1
Total number of shares	:	n/a

Currency

:

USD - US Dollar

No.	Shareholders	Country	Shares
			Number	Amount (USD)	%
1	RIEKER ASIA LTD	Hong Kong	n/a	n/a	100.00
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

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 30~90 days
Import	Letter of Credit (At-sight) Telegraphic Transfer (T/T) - Executed at time of transaction

GROUP STRUCTURE & AFFILIATED COMPANIES

DIRECT / INDIRECT CORPORATE PARENT DETAILS

Direct Parent	:	RIEKER ASIA LTD
Global Identifier	:	P3148266
Legal Form Category	:	Private Company with Limited Liability
Country	:	Hong Kong
Primary Business Activity	:	Service

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.

ADDITIONAL INFORMATION

Primary Products

Products / Materials / Services Description	Activity
Leather shoes	Manufacturing, Exporting

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Footwear	5139	Manufacturing, Exporting

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Footwear	6405	Manufacturing, Exporting

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of RIEKER VIETNAM LTD is Manufacturing - Finished products.

Key product include :

• Leather shoes

An integral part of the core business includes:

• Distribution

Supplementary Business

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

1. Exporting
• Exporting - Finished products
2. Importing
• Importing - Raw materials

DOMESTIC SALES & PURCHASES

Annual Sales Analysis	Percentage
International Sales (Export)	100%

Annual Purchases Analysis	Percentage
Local Purchases	10%
Imports	90%

BANK DETAILS

Bank Name	:	JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM
Global Identifier	:	32400479
Branch	:	Hoan Kiem,Hanoi
Branch Address	:	QUANG NAM
SWIFT Code	:	BFTVVNVX

LOCAL BRANCHES & MANAGEMENT

Branch	:	RIEKER VIETNAM LTD - SON TINH DIST, QUANG NAM
Branch Address	:	Lot C14 Tinh Phong Industrial Zone, Son Tinh Dist, Quang Nam

INTERNATIONAL TRADE - Activity & Markets

Country / Region	Estimated level of importance	Trading Activity
Asia / Pacific	Medium	Importing
Europe	Medium	Importing, Exporting
China	Medium	Importing
Germany	Medium	Importing, Exporting
Slovakia	Medium	Importing, Exporting

OVERSEAS CUSTOMERS

Business Entity Name	Global Identifier	Country
RIEKER OBUV SRO	P2972302	Slovakia

OFFICE & FACILITIES

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

Name	:	RIEKER VIETNAM LTD - DIEN BAN DIST, QUANG NAM
Primary Use	:	Office & Administration facilities
Address	:	Lot 1 Dien Nam - Dien Ngoc Industrial Zone, Dien Ban Dist, Quang Nam
Country	:	Vietnam
Ownership of Property	:	Rented / Leased
Status	:	Operational

PREVIOUS BUSINESS LICENSE/S

License Date	License No.
27 Feb, 2004	04/GP-KCN-QNA

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.87
UK Pound	1	Rs.97.69
Euro	1	Rs.77.37

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%)

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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.