MIRA INFORM REPORT

Report Date :

26.09.2014

IDENTIFICATION DETAILS

Name :	SUN VN IMPORT EXPORT JSC

Registered Office :	Hamlet 1 Dong My Commune, Thanh Tri Dist, Hanoi

Country :	Vietnam

Date of Incorporation :	20.09.2013

Legal Form :	Joint Stock Company

Line of Business :	Trader of Minerals / Mining

No. of Employees :	20

RATING & COMMENTS

MIRA’s Rating :

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

Status :	New Business
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

REGISTERED NAME & COMPANY SUMMARY

Company Details

Organization Name	:	SUN VN IMPORT EXPORT JSC⁽¹⁾
Address	:	Hamlet 1 Dong My Commune, Thanh Tri Dist, Hanoi
Country	:	Vietnam
Primary Business Activity	:	Trader
Key Industry	:	Minerals / Mining

Key Facts

Registered Legal Address	:	Hamlet 1 Dong My Commune, Thanh Tri Dist, Hanoi
Operational Address	:	Hamlet 1 Dong My Commune, Thanh Tri Dist, Hanoi
Issuing Authority	:	Dept. of Planning & Investment - Hanoi
License Number	:	0106313690
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	:	20 Sep, 2013
Employees	:	20
Capital	:	US$ 1,432,617
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. Luu Thi Cuong
Nationality	:	Vietnamese

COMPANY MANAGEMENT

Management Listings

	Name	Nationality	Job Description	Dept. / Division
1	Ms. Luu Thi Cuong	Vietnamese	Managing Director	-

Management Details - 1

Personal Unique Identifier	:	MI03771851
Name	:	Ms. Luu Thi Cuong
Date of Birth	:	1980

COMPANY DIRECTORS

1
Personal Unique Identifier	:	MI03771851
Name	:	Ms. Luu Thi Cuong
Date of Birth	:	1980

NEGATIVE INFORMATION

REPUTATION

Due to the recent incorporation of the SUN VN IMPORT EXPORT JSC, and the relatively small nature of its business, no meaningful points of reference in terms of reputation within the respective industry was possible.

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

₫ 30,000,000,000

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. Luu Thi Cuong	Vietnam	n/a	n/a	93.34
2	Ms. Huong Ly	Vietnam	n/a	n/a	3.33
3	Ms. Pham Tu Anh	Vietnam	n/a	n/a	3.33
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	20%
Imports	80%

PAYMENT TERMS

Selling

Type

Terms

Local

Cash on delivery (COD)

Credit - Secured with Post-dated checks 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 - Secured with Post-dated checks 30~60 days

Import

Letter of Credit (At-sight)

Telegraphic Transfer (T/T) - Executed at time of transaction

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	:	SUN VN IMPORT EXPORT JSC
Primary Business Activity	:	Trader
Primary Industry	:	Minerals / Mining
Office Contact Details
Operating Address	:	Hamlet 1 Dong My Commune, Thanh Tri Dist, Hanoi
Mobile	:	[+84]-978967989 ^(*)
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	:	0106313690

Note (*):

There exists no known land telephone line that is being used by the Subject Business Entity (SBE) in connection to their business, which is uncommon in normal / regular businesses. The SBE ONLY operates using a Mobile phone as the primary point of contact.
In such scenarios, there is no ability to legally associate any relationship between the SBE and the person/s answering the mobile phone.
Caution is advised.

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Chemical preparations, nspf	2899	Trading
Chemicals and Allied Products	2800	Trading
Chemicals/Allied Prdts, NEC	5169	Trading
Clay, ceramic, and refractory minerals, nspf	1459	Trading
Minerals and earths, ground or otherwise treated	3295	Trading

Primary Products

Products / Materials / Services Description	Activity
Chemical products	Trading
Minerals	Trading

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Chemical products and preparations of the chemical or allied industries	3823905050	Trading
Mineral substances nesoi	2530	Trading
Miscellaneous chemical products	3800	Trading

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of SUN VN IMPORT EXPORT JSC is Trading - Finished products.

Key products include :

Minerals

Chemical products

Supplementary Business

In addition to the core business, SUN VN IMPORT EXPORT JSC also is engaged in the following areas of business:

Exporting

Exporting - Finished products

Importing

Importing - Finished products

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 - HANOI
SWIFT Code	:	EBVIVNVX

INTERNATIONAL TRADE - Activity & Markets

Country / Region	Estimated level of importance	Trading Activity
Asia / Pacific	Medium	Importing
Middle-East	Medium	Exporting
China	Medium	Importing
Japan	Medium	Importing
Korea, South (Republic of Korea)	Medium	Importing

REAL ESTATE OWNERSHIP

The following property / ies are owned by SUN VN IMPORT EXPORT JSC :

Property Name	:	SUN VN IMPORT EXPORT JSC - THANH TRI DIST, HANOI
Type of Property	:	Office & Administration
Address	:	Hamlet 1 Dong My Commune, Thanh Tri Dist, Hanoi
Office Size	:	600 Square meters

NOTES & COMMENTS

N/a

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.02
UK Pound	1	Rs.99.42
Euro	1	Rs.77.84

INFORMATION DETAILS

Analysis Done by :	RAS

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%)

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.