MIRA INFORM REPORT

Report No. :	353449
Report Date :	15.12.2015

IDENTIFICATION DETAILS

Name :	YENEPOYA WOOD PROCESSING CO LTD
Registered Office :	Go Mit Industrial Group Ngo May Town, Phu Cat, Binh Dinh
Country :	Vietnam
Date of Incorporation :	22.01.2014
Legal Form :	Private Company with Limited Liability
Line of Business :	Manufacturer of Plywood, Timber & Wood Products.
No. of Employees :	150

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 – 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	:	YENEPOYA WOOD PROCESSING CO LTD ^(1)
Name in Local Language	:	CÔNG TY TNHH YENEPOYA WOOD PROCESSING
Address	:	Go Mit Industrial Group Ngo May Town, Phu Cat, Binh Dinh
Country	:	Vietnam
Phone (S)	:	[+84] 56-3650456
Facsimile	:	[+84] 56-3650456
Email	:	yenepoya.vn@gmail.com
Primary Business Activity	:	Manufacturer
Key Industry	:	Plywood, Timber & Wood Products

Key Facts

Registered Legal Address	:	Go Mit Industrial Group Ngo May Town, Phu Cat, Binh Dinh
Operational Address	:	Go Mit Industrial Group Ngo May Town, Phu Cat, Binh Dinh
License Status	:	License exists - Normal.
Issuing Authority	:	People's Committee - Binh Dinh
License Number	:	351023000341
Legal Form - Category	:	Private Company with Limited Liability
Legal Form	:	Company Limited
Legal Form - Abbreviation	:	CO LTD
Operational Status of Business	:	Normal
Date of Registration	:	22 Jan, 2014
Employees	:	150
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	:	Managing Director
Name	:	Mr. Salam Abdul Bolar
Nationality	:	Indian

COMPANY MANAGEMENT

Management Listings

	Name	Nationality	Job Description	Dept. / Division
1	Mr. Salam Abdul Bolar	Indian	Managing Director	-
2	Mr. Thang Quoc Hoang	Vietnamese	Chief Accountant	-

Management Details - 1

Personal Unique Identifier	:	MI03931786
Name	:	Mr. Salam Abdul Bolar
Date of Birth	:	21 Nov, 1958

Management Details - 2

Personal Unique Identifier	:	MI03931794
Name	:	Mr. Thang Quoc Hoang

COMPANY DIRECTORS

1
Personal Unique Identifier	:	MI03931786
Name	:	Mr. Salam Abdul Bolar
Date of Birth	:	21 Nov, 1958

NEGATIVE INFORMATION

REPUTATION

Due to the recent incorporation of the YENEPOYA WOOD PROCESSING CO LTD, 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

:

US$ 1,000,000

CAPITAL (Currency: USD - US Dollar)

Authorized Capital

:

$ 1,000,000

Date	Authorized Capital - History
22 Jan, 2014	500,000
4 Dec, 2014	1,000,000

SHAREHOLDERS

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

Currency

:

USD - US Dollar

No.	Shareholders	Country	Shares
			Number	Amount (USD)	%
1	Mr. Javeed Abdulla Yenepoya	India	n/a	n/a	40.00
2	Mr. Sarhaad Mohammed Yenepoya	India	n/a	n/a	38.00
3	Mr. Salam Abdul Bolar	India	n/a	n/a	22.00
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
International Sales (Export)	100%

Annual Purchases Analysis	Percentage
Local Purchases	40%
Imports	60%

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

INTERNATIONAL TRADE - Activity & Markets
Country / Region	Estimated level of importance	Trading Activity
Asia / Pacific	Medium	Importing, Exporting
China	Medium	Importing
India	Medium	Importing, Exporting

GROUP STRUCTURE & AFFILIATED COMPANIES

N/A

FINANCIAL INFORMATION

FINANCIAL STATEMENT - DETAILED

Based on the corporate laws of Vietnam, legal entities which are a Private Company with Limited Liability 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	:	YENEPOYA WOOD PROCESSING CO LTD
Primary Business Activity	:	Manufacturer
Primary Industry	:	Plywood, Timber & Wood Products
Office Contact Details
Operating Address	:	Go Mit Industrial Group Ngo May Town, Phu Cat, Binh Dinh
Tel	:	[+84] 56-3650456
Fax	:	[+84] 56-3650456
Email	:	yenepoya.vn@gmail.com
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	:	4101419732

 Primary Products

Products / Materials / Services Description	Activity
Plywood products	Manufacturing, Exporting

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Hardwood veneer and plywood	2435	Manufacturing, Exporting
Lumber/Plywood/Millwork	5031	Manufacturing, Exporting
Softwood veneer and plywood	2436	Manufacturing, Exporting
Wood products, nspf	2499	Manufacturing, Exporting

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Articles of wood	4421	Manufacturing, Exporting
Plywood	4412995000	Manufacturing, Exporting
Wood & articles of wood; wood charcoal	4400	Manufacturing, Exporting

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of YENEPOYA WOOD PROCESSING CO LTD is Manufacturing - Finished products.

Key product include :

Plywood products

An integral part of the core business includes:

Distribution

Supplementary Business

In addition to the core business, YENEPOYA WOOD PROCESSING CO LTD also is engaged in the following areas of business:

Exporting

Exporting - Finished products

Importing

Importing - Raw materials

BANK DETAILS

Bank Name	:	JOINT STOCK COMMERCIAL BANK FOR INVESTMENT & DEVELOPMENT OF VIETNAM
Global Identifier	:	32400483
Branch	:	Hoan Kiem Dist,Hanoi
Branch Address	:	BINH DINH
SWIFT Code	:	BIDVVNVX

OFFICE & FACILITIES

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

Name	:	YENEPOYA WOOD PROCESSING CO LTD - PHU CAT, BINH DINH
Primary Use	:	Office & Administration facilities
Building Size	:	3,500 Square meters
Address	:	Go Mit Industrial Group Ngo May Town, Phu Cat, Binh Dinh
Country	:	Vietnam
Status	:	Operational

NOTES & COMMENTS

N/A

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.99
UK Pound	1	Rs.101.78
Euro	1	Rs.73.47
VND	1	Rs.0.0030

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

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	NIT

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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