MIRA INFORM REPORT

Report Date :

12.09.2014

IDENTIFICATION DETAILS

Name :	MAITHAO COMPANY LIMITED
Registered Office :	Thua dat so 191, To ban do so 3 Tan Minh Hamlet, Minh Thanh Commune, Dau Tieng District, Binh Duong Province
Country :	Vietnam
Date of Incorporation :	2001
Com. Reg. No.:	3700769847
Legal Form :	Limited Liability Company
Line of Business :	Subject specializes in manufacturing and trading rubber latex of the type used in the processing industry automotive tires, shoe soles.
No. of Employees :	100

NOTES :

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ECGC Country Risk Classification List – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
Vietnam	B1	B1

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 22% in 2012, while industry's share increased from 36% to nearly 41% in the same period. State-owned enterprises account for roughly 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 2012 growing at 5%, the slowest rate of growth since 1999. In 2012, however, exports increased by more than 18%, 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 stable in 2012. Foreign direct investment inflows fell 4.5% to $10.5 billion in 2012. Foreign donors have pledged $6.5 billion in new development assistance for 2013. Hanoi has oscillated between promoting growth and emphasizing macroeconomic stability in recent years. In February 2011, the Government shifted policy away 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 had been made by early 2013. Vietnam's economy continues to face challenges from an undercapitalized banking sector. Non-performing loans weigh heavily on banks and businesses. In September 2012, the official bad debt ratio climbed to 8.8%, though some independent analysts believe it could be higher than 15%

Source : CIA

SUBJECT IDENTIFICATION & LEGAL FORM
Current legal status
English Name	MAITHAO COMPANY LIMITED
Vietnamese Name	CONG TY TNHH MAI THAO
Short name	MAITHAO CO., LTD
Type of Business	Limited liability company
Year Established	2001
Business Registration No.	3700769847
Date of the latest adjustment (4^th)	03 Apr 2013
Place of Registration	Business Registration Office of Planning and Investment Department of Binh Duong Provine
Chartered capital	VND 53,000,000,000
Tax code	3700769847
Total Employees	100

Historical Identification & Legal form

List	Changed Items
1	Subject has got former Business Registration No: 4602002482 issued on 14 Dec 2006 Changed to: 3700769847
2	Subject has got former Chartered capital: VND 21,000,000,000 Changed to: VND 53,000,000,000

ADDRESSES
Head Office (Representative Office in Hochiminh City)
Address	No. 64/1J D3 Street, Ward 25, Binh Thanh District, Ho Chi Minh City, Vietnam
Telephone	(84-8) 3512 7198
Fax	(84-8) 3510 6459 - 3512 1279
Email	phuong.ho@maithao.com
Website	www.maithao.com
Registration Address
Address	Thua dat so 191, To ban do so 3 Tan Minh Hamlet, Minh Thanh Commune, Dau Tieng District, Binh Duong Province, Vietnam
Telephone	(84-650) 629 3772
Website	www.maithao.com

DIRECTORS
1. NAME	Mr. HO MINH PHUONG
Position	Director
Date of Birth	26 Apr 1962
ID Number/Passport	024449814
ID Issue Date	19 Jan 2006
ID Issue Place	Police Station of Hochiminh City
Resident	No. 64/1J D3 Street, Ward 25, Binh Thanh District, Ho Chi Minh City, Vietnam
Nationality	Vietnamese
Tel/Mobile phone	+84 913 740 620
Email	phuong.ho@maithao.com
Qualification	Management
2. NAME	Ms. NGUYEN THI HUONG
Position	Deputy Director
ID Number/Passport	024449815
ID Issue Place	Police Station of Ho Chi Minh City
Resident	No. 64/1J D3 Street, Ward 25, Binh Thanh District, Ho Chi Minh City, Vietnam
Nationality	Vietnamese
Qualification	Management
3. NAME	Mr. HUYNH MAI KHOA
Position	Chief Accountant
Resident	Ho Chi Minh City, Vietnam
Nationality	Vietnamese
Qualification	Accounting

BUSINESS NATURE AND ACTIVITIES

Subject specializes in manufacturing and trading rubber latex of the type used in the processing industry automotive tires, shoe soles...
Subject registered in:
Manufacture of rubber products
Wholesale of waste and scrap and other products n.e.c
Wholesale of agricultural raw materials (except wood, bamboo) and live animals
Freight transport by road
Manufacture of other products of wood, manufacture of articles of cork, straw and plaiting materials

IMPORT & EXPORT ACTIVITIES
IMPORT: N/A
EXPORT:
· Market	Malaysia, Brazil, Germany, China, Hongkong, India, Spain...

BANKERS
1. ASIA COMMERCIAL JOIN T STOCK BANK
Address	No. 442 Nguyen Thi Minh Khai Street, Ward 5, District 3, Ho Chi Minh City, Vietnam
Telephone	(84-8) 3929 0999
Fax	(84-8) 3839 9885
2. VIETNAM TECHNOLOGICAL AND COMMERCIAL JOINT STOCK BANK THANH DA BRANCH
Address	No.633-635 Xo Viet Nghe Tinh Street-Ward 26, Binh Thanh District, Ho Chi Minh City, Vietnam
Telephone	(84-8) 3511 8814/15/16
Fax	(84-8) 3511 8813

SHAREHOLDERS
1. NAME	Mr. HO MINH PHUONG
Position	Director
Date of Birth	26 Apr 1962
ID Number/Passport	024449814
Issued on	19 Jan 2006
Issued Place	Police Station of Hochiminh City
Resident	No. 64/1J D3 Street, Ward 25, Binh Thanh District, Ho Chi Minh City, Vietnam
Email	phuong.ho@maithao.com
Mobile phone	+84 913 740 620
Nationality	Vietnamese
Value of shares	VND 33,000,000,000
Percentage	62.26%
2. NAME	Ms. NGUYEN THI HUONG
Position	Deputy Director
ID Number/Passport	024449815
Issued Place	Police Station of Ho Chi Minh City
Resident	No. 64/1J D3 Street, Ward 25, Binh Thanh District, Ho Chi Minh City, Vietnam
Nationality	Vietnamese
Value of shares	VND 20,000,000,000
Percentage	37.74%

FINANCIAL DATA

Not available!

PAYMENT HISTORY & PERFORMANCE EXPERIENCES
Trade Morality	Normal
Liquidity	N/A
Payment status	N/A
Financial Situation	N/A
Development trend	Stable
Litigation data	No Record
Bankruptcy	No Record
Payment Methods	Direct payment or through its corresponding bank
Sale Methods	Wholesaler
Public opinion	Normal

INTERPRETATION ON THE SCORES

Subject has operated since 2001 as a private enterprise, located in Chon Thanh Minh Hung commune, Binh Phuoc province. In 2006, it became a limited liability company under business registration No. 4602002482. From that time to now, subject has adjusted its business registration four times, the last time was on 03 Apr 2013. Currently, MAITHAO CO., LTD is operating under business registration No. 3700769847 (the same with tax code) and chartered capital of VND 53 billion.

Subject specializes in manufacturing and trading rubber latex of the type used in the processing industry automotive tires, shoe soles... About 90% finished products are exported to foreign countries, the rest of it are consumed in domestic market. Subject exports to Malaysia, Brazil, Germany, China, Hongkong, India, Spain...

The main office of subject is located at 64/1J Road D3, Ward 25, Binh Thanh District, Ho Chi Minh City, Vietnam. Its factory (also registration address) is in Binh Duong province. At present, subject has about 100 staffs working. It has operated for a long time so it has created stable traditional customers. The management capacity is quite good. Mr. Ho Minh Phuong has many years experience in this field.

According to Ms. Do Thi Thuy My (former chief accountant), revenue in 2011 was about VND 1,422 billion and profit after tax was about VND 2.8 billion. Business operation is busy now. The subject has capacity to meet normal business transaction.

------------ APPENDIX ----------

INDUSTRY DATA
Industry code	GDP growth speed by price compared with 1994 (%)		Total enterprises 2010		Total employees 2011 (Thous.pers.)	Annual average capital of enterprises 2010 (billion dongs)
	2012	2011
Agriculture, Forestry and Fishing	2.72	4.00	8,887		24,362.9	95,227
Industry and Construction	4.52	5.53	95,217		10,718.9	3,641,376
Trade and Services	6.42	6.69	187,195		15,270.2	6,957,082
ECONOMIC INDICATORS
			2012	2011		2010
Population (Million person)			88.78	87.84		86.93
Gross Domestic Products (USD billion)			136	119		102.2
GDP Growth (%)			5.03	5.89		6.78
GDP Per Capita (USD/person/year)			1,540	1,300		1,160
Inflation (% Change in Composite CPI)			9.21	18.58		11.75
State Budget Deficit compared with GDP (%)			4.8	4.9		5.8
SERVICE TRADE PERFORMANCE
Billion USD			2012	2011		2010
Exports			114.6	96.3		72.2
Imports			114.3	105.8		84.8
Trade Balance			0.3	-9.5		-12.6

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.91
UK Pound	1	Rs.98.65
Euro	1	Rs.78.64

INFORMATION DETAILS

Report Prepared by :

TPT

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