MIRA INFORM REPORT

Report No. :	352998
Report Date :	11.12.2015

IDENTIFICATION DETAILS

Name :	SAIGON WATER TECHNOLOGY JSC ^(1)
Registered Office :	SISC Bldg 27-29-31 Rd 9A Trung Son Residential Quarter, Binh Hung Commune, Binh Chanh, Ho Chi Minh
Country :	Vietnam
Date of Incorporation :	31.07.2009
Legal Form :	Joint Stock Company
Line of Business :	Trader of Machinery.
No. of Employees :	50

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD $100,000
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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
Vietnam	A2	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. Agriculture's share of economic output has shrunk from about 25% in 2000 to 18% in 2014, while industry's share increased from 36% to 38% in the same period. State-owned enterprises now account for only about 40% of GDP.

Vietnamese authorities have reaffirmed their commitment to economic modernization and a more open economy. Vietnam joined the World Trade Organization in January 2007, which has promoted more competitive, export-driven industries. Vietnam joined the 12-nation Trans-Pacific Partnership free trade agreement negotiations in 2010.

Hanoi has oscillated between promoting growth and emphasizing macroeconomic stability in recent years. Between 2008 and 2011, Vietnam's managed currency, the dong, was devalued in excess of 20%, but its value has remained relatively stable since then. 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.

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 to restructure public investment, state-owned enterprises, and the banking sector, Hanoi’s progress in meeting its goals is lagging behind its proposed schedule. Vietnam's economy continues to face challenges from an undercapitalized banking sector and non-performing loans weigh heavily on banks and businesses.

Source : CIA

REGISTERED NAME & COMPANY SUMMARY

Company Details
Organization Name	:	SAIGON WATER TECHNOLOGY JSC ^(1)
Name in Local Language	:	CÔNG TY CỔ PHẦN SÀI GÒN CÔNG NGHỆ NƯỚC
Address	:	SISC Bldg 27-29-31 Rd 9A Trung Son Residential Quarter, Binh Hung Commune, Binh Chanh, Ho Chi Minh
Country	:	Vietnam
Phone (S)	:	[+84] 8-54318181
Facsimile	:	[+84] 8-54317373
Email	:	saigon@sawatech.vn
Primary Business Activity	:	Trader
Key Industry	:	Machinery

Key Facts

Registered Legal Address

:

27-29-31 Rd 9A KDC Trung Son Binh Hung Commune, Binh Chanh, Ho Chi Minh

Operational Address

:

SISC Bldg 27-29-31 Rd 9A Trung Son Residential Quarter Binh Hung Commune, Binh Chanh, Ho Chi Minh

Trading Name / DBA

:

SAWATECH

License Status

:

License exists - Normal.

Issuing Authority

:

Dept. of Planning & Investment - Ho Chi Minh

License Number

:

0303969964

Legal Form - Category

:

Joint Stock Company

Legal Form

:

Joint Stock Company

Legal Form - Abbreviation

:

JSC

Operational Status of Business

:

Normal

Date of Registration

:

31 Jul, 2009

Employees

:

50

Capital

:

US$ 819,635

PREVIOUS BUSINESS LICENSE/S

:

License Date	License No.
1 Sep, 2005	4102032909

CREDIT recommendation

Current Credit Limit: USD $100,000 based on 90 days

DIRECTORS/MANAGEMENT

Key Person

Legal Title	:	Chairman
Name	:	Mr. Nguyen Huu Kiet
Nationality	:	Vietnamese

COMPANY MANAGEMENT

Management Listings

	Name	Nationality	Job Description	Dept. / Division
1	Mr. Nguyen Huu Kiet	Vietnamese	Managing Director	-

Management Details - 1

Personal Unique Identifier	:	MI03931475
Name	:	Mr. Nguyen Huu Kiet
Date of Birth	:	1973

COMPANY DIRECTORS

1
Personal Unique Identifier	:	MI03931475
Name	:	Mr. Nguyen Huu Kiet
Date of Birth	:	1973

NEGATIVE INFORMATION

REPUTATION

Reference checking for the purpose of establishing SAIGON WATER TECHNOLOGY 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	:	₫ 18,000,000,000
Paid-up Capital	:	₫ 18,000,000,000

SHAREHOLDERS

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

No.	Shareholders	Country	Shares
			Number	Amount	%
1	Mr. Nguyen Huu Kiet	Vietnam	n/a	12,857,400,000	71.43
2	Ms. Pham Thi Trang	Vietnam	n/a	4,602,600,000	25.57
3	Undisclosed Shareholders	Vietnam	n/a	360,000,000	2.00
4	Mr. Pham Van Tam	Vietnam	n/a	180,000,000	1.00
Total			n/a	18,000,000,000	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	100%
International Sales (Export)	0%
Annual Purchases Analysis	Percentage
Local Purchases	60%
Imports	40%

PAYMENT TERMS

Selling

Type	Terms
Local	Cash on delivery (COD) Credit - Unsecured 30~60 days

Purchasing

Type	Terms
Local	Cash on delivery (COD) Credit - Unsecured 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 a 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

N/a

ADDITIONAL INFORMATION

Report Details
Country	:	Vietnam
Business Entity Name	:	SAIGON WATER TECHNOLOGY JSC
Primary Business Activity	:	Trader
Primary Industry	:	Machinery
Office Contact Details
Operating Address	:	SISC Bldg 27-29-31 Rd 9A Trung Son Residential Quarter Binh Hung Commune, Binh Chanh, Ho Chi Minh
Tel	:	[+84] 8-54318181
	:	[+84] 8-54318282
Fax	:	[+84] 8-54317373
Email	:	saigon@sawatech.vn
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	:	0303969964

Primary Products

Products / Materials / Services Description	Activity
Gas equipment	Importing, Trading
Industry equipment	Importing, Trading
Irrigation equipment	Importing, Trading
Marine equipment	Importing, Trading
Oil equipment	Importing, Trading

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Industrial Machinery & Equipment	3500	Importing, Trading
Industrial Machinery/Equip	5084	Importing, Trading
Install/Erect Bldg Equip, NEC	1796	Service
Oil and gas field equipment, and parts, nspf	3533	Importing, Trading

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Business services, health, financial/insur. legal/real estate, hotels, and misc repairs	9900	Service
Irrigation equipment for agricultural or horticultural	8424819020	Importing, Trading
Machines etc having individual functions nesoi, parts	8479	Importing, Trading

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

Products / Materials / Services Description	Ranking	Activity
Waste water treatment equipment	Primary	Importing, Trading
Water drainage equipment	Primary	Importing, Trading
Water supply equipment	Primary	Importing, Trading
Installation	Secondary	Service

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of SAIGON WATER TECHNOLOGY JSC is Trading - Finished products.

Key products include:

Gas equipment

Industry equipment

Irrigation equipment

Marine equipment

Oil equipment

Waste water treatment equipment

Water drainage equipment

Water supply equipment

Supplementary Business

In addition to the core business, SAIGON WATER TECHNOLOGY JSC also is engaged in the following areas of business:

Importing

Importing - Finished products

Service

Specialized professional services, including:

Installation

BANK DETAILS

Bank Name	:	ASIA COMMERCIAL BANK LEASING CO LTD
Global Identifier	:	P3311849
Branch	:	Ho Chi Minh
Branch Address	:	ASIA COMMERCIAL BANK LEASING CO LTD
SWIFT Code	:	This bank does not have a SWIFT Code

INTERNATIONAL TRADE - Activity & Markets
Country / Region	Estimated level of importance	Trading Activity
Asia / Pacific	Medium	Importing
Europe	Medium	Importing
China	Medium	Importing
Germany	Medium	Importing
Korea, South (Republic of Korea)	Medium	Importing

OFFICE & FACILITIES

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

Name	:	SAIGON WATER TECHNOLOGY JSC - BINH CHANH, HO CHI MINH
Primary Use	:	Office & Administration facilities
Address	:	SISC Bldg 27-29-31 Rd 9A Trung Son Residential Quarter Binh Hung Commune, Binh Chanh, Ho Chi Minh
Country	:	Vietnam
Status	:	Operational

NOTES & COMMENTS

N/A

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.79
UK Pound	1	Rs.101.37
Euro	1	Rs.73.46
VND	1	Rs.0.0030

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	HEE
Report Prepared by :	TPT

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.