MIRA INFORM REPORT

Report Date :

24.09.2014

IDENTIFICATION DETAILS

Name :	ASEM DEVELOPMENT INVESTMENT CORP

Registered Office :	5, 128 Alley Pho Vong Phuong Liet Ward, Thanh Xuan, Hanoi

Country :	Vietnam

Date of Incorporation :	10.06.2014

Legal Form :	Joint Stock Company

Line of Business :	Trader of Plywood, Timber & Wood Products

No. of Employees :	10

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
--	NB	New Business	--

Status :	New Company
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

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

Company name and address

Company Details

Organization Name	:	ASEM DEVELOPMENT INVESTMENT CORP⁽¹⁾
Address	:	5, 128 Alley Pho Vong Phuong Liet Ward, Thanh Xuan, Hanoi
Country	:	Vietnam
Phone (S)	:	[+84] 4-85851569
Facsimile	:	[+84] 4-36285410
Email	:	info@asemvn.com
Website	:	http://www.asemvn.com
Primary Business Activity	:	Trader
Key Industry	:	Plywood, Timber & Wood Products

Key Facts

Registered Legal Address	:	5, 128 Alley Pho Vong Phuong Liet Ward, Thanh Xuan, Hanoi
Operational Address	:	5, 128 Alley Pho Vong Phuong Liet Ward, Thanh Xuan, Hanoi
Trading Name	:	ASEM CORP
Issuing Authority	:	Dept. of Planning & Investment - Hanoi
License Number	:	0104560912
License Status	:	License exists - Normal.
Legal Form - Category	:	Joint Stock Company
Legal Form	:	Corporation
Legal Form - Abbreviation	:	CORP
Operational Status of Business	:	Normal
Date of Registration	:	10 Jun, 2014
Employees	:	10
Capital	:	US$ 477,539
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	:	Chairman
Name	:	Ms. Nguyen Thi Oanh
Nationality	:	Vietnamese

COMPANY MANAGEMENT

Management Listings

	Name	Nationality	Job Description	Dept. / Division
1	Ms. Dao Thi Nhi	Vietnamese	Chief Accountant	-
2	Ms. Nguyen Thi Oanh	Vietnamese	Managing Director	-

Management Details - 1

Personal Unique Identifier	:	MI03770612
Name	:	Ms. Dao Thi Nhi
Date of Birth	:	1974

Management Details - 2

Personal Unique Identifier	:	MI03770600
Name	:	Ms. Nguyen Thi Oanh
Date of Birth	:	1963

COMPANY DIRECTORS

1
Personal Unique Identifier	:	MI03770600
Name	:	Ms. Nguyen Thi Oanh
Date of Birth	:	1963

NEGATIVE INFORMATION

REPUTATION

Reference checking for the purpose of establishing ASEM DEVELOPMENT INVESTMENT CORP'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

₫ 10,000,000,000

SHAREHOLDERS

Total number of shareholders	:	3
Total number of shares	:	n/a

Currency

VND - Vietnam Dong

No.	Shareholders	Country	Shares
No.	Shareholders	Country	Number	Amount (VND)	%
1	Ms. Nguyen Thi Oanh	Vietnam	n/a	n/a	95.00
2	Mr. Nguyen Quang Huynh	Vietnam	n/a	n/a	4.00
3	Ms. Nguyen Thi Kim Yen	Vietnam	n/a	n/a	1.00
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

DOMESTIC SALES & PURCHASES

Annual Sales Analysis	Percentage
Domestic Sales	20%
International Sales (Export)	80%

Annual Purchases Analysis	Percentage
Local Purchases	100%
Imports	0%

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 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

0.000048 USD
United States Dollars

ADDITIONAL INFORMATION

Report Details

Country	:	Vietnam
Business Entity Name	:	ASEM DEVELOPMENT INVESTMENT CORP
Primary Business Activity	:	Trader
Primary Industry	:	Plywood, Timber & Wood Products
Office Contact Details
Operating Address	:	5, 128 Alley Pho Vong Phuong Liet Ward, Thanh Xuan, Hanoi
Tel	:	[+84] 4-85851569
Fax	:	[+84] 4-36285410
Email	:	info@asemvn.com
Website Details
Website	:	http://www.asemvn.com
Status	:	Normal - operational
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	:	0104560912

Primary Products

Products / Materials / Services Description	Activity
Commercial plywood	Trading, Exporting
Plywoods	Trading, Exporting
Veneer	Trading, Exporting

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Hardwood veneer and plywood	2435	Trading, Exporting
Softwood veneer and plywood	2436	Trading, Exporting

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Plywood	4412995000	Trading, Exporting
Veneer panels and similar laminated wood	4412990001	Trading, Exporting

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of ASEM DEVELOPMENT INVESTMENT CORP is Trading - Finished products.

Key products include :

Commercial plywood

Plywoods

Veneer

Supplementary Business

In addition to the core business, ASEM DEVELOPMENT INVESTMENT CORP also is engaged in the following areas of business:

Exporting

Exporting - Finished products

BANK DETAILS

Bank Name	:	JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM
Global Identifier	:	32400479
Branch	:	Hoan Kiem,Hanoi
Branch Address	:	JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM - HOAN KIEM DIST, HANOI
SWIFT Code	:	BFTVVNVX

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

INTERNATIONAL TRADE - Activity & Markets

Country / Region	Estimated level of importance	Trading Activity
Asia / Pacific	Medium	Exporting
India	Medium	Exporting
Indonesia	Medium	Exporting
Malaysia	Medium	Exporting
Thailand	Medium	Exporting

OFFICE & FACILITIES

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

Name	:	ASEM DEVELOPMENT INVESTMENT CORP - THANH XUAN, HANOI
Primary Use	:	Office & Administration facilities
Address	:	5, 128 Alley Pho Vong Phuong Liet Ward, Thanh Xuan, Hanoi
Country	:	Vietnam
Status	:	Operational

PREVIOUS BUSINESS LICENSE/S

License Date	License No.
19 Apr, 2010	0103045788

NOTES & COMMENTS

N/a

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.87
UK Pound	1	Rs.99.63
Euro	1	Rs.78.22

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	NIS

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.