MIRA INFORM REPORT

Report No. :	319303
Report Date :	06.05.2015

IDENTIFICATION DETAILS

Name :	SAIGON JOUBO TEXTILE CO LTD
Registered Office :	191 Bui Minh Truc St Ward 6, District 8, Ho Chi Minh
Country :	Vietnam
Date of Incorporation :	01.08.2014
Legal Form :	Private Company with Limited Liability
Line of Business :	Manufacturer of Textiles & Raw Material.
No. of Employee :	320

RATING & COMMENTS

MIRA’s Rating :

NB

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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
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. 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 18% in 2014, while industry's share increased from 36% to 38% 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 2014 growing at 5.4%, one of the slower growth rates since 1999. Exports have grown strongly in 2013-14; 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 has remained relatively stable since then. 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, 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. Vietnam is a member of the 12-nation Trans-Pacific Partnership free trade agreement negotiations.

Source : CIA

REGISTERED NAME & COMPANY SUMMARY

Company Details

Organization Name	:	SAIGON JOUBO TEXTILE CO LTD ^(1)
Address	:	191 Bui Minh Truc St Ward 6, District 8, Ho Chi Minh
Country	:	Vietnam
Phone (S)	:	[+84] 8-38569041
Facsimile	:	[+84] 8-38504861
Email	:	saigonjoubo@hcm.vnn.vn
Primary Business Activity	:	Manufacturer
Key Industry	:	Textiles & Raw Material

Key Facts

Registered Legal Address

:

191 Bui Minh Truc St Ward 6, District 8, Ho Chi Minh

Operational Address

:

191 Bui Minh Truc St Ward 6, District 8, Ho Chi Minh

Issuing Authority

:

People's Committee - Ho Chi Minh

License Number

:

411022000779

License Status

:

License exists - Normal.

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

:

1 Aug, 2014

Employees

:

320

Capital

:

US$ 13,810,000

PREVIOUS BUSINESS LICENSE/S

License Date	License No.
26 Aug, 1992	410/GP

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. Ting-Yuan Huang
Nationality	:	Taiwanese

COMPANY MANAGEMENT

Management Listings

	Name	Nationality	Job Description	Dept. / Division
1	Mr. Chanh Van Huynh	Vietnamese	Chief Accountant	-

Management Details - 1

Personal Unique Identifier	:	MI03852589
Name	:	Mr. Chanh Van Huynh
Date of Birth	:	1961

COMPANY DIRECTORS

1
Personal Unique Identifier	:	MI03852588
Name	:	Mr. Ting-Yuan Huang
Date of Birth	:	1939

NEGATIVE INFORMATION

REPUTATION

Reference checking for the purpose of establishing SAIGON JOUBO TEXTILE CO LTD'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: USD - US Dollar)

Authorized Capital	:	$ 13,810,000
Paid-up Capital	:	$ 6,660,000

SHAREHOLDERS

Total number of shareholders	:	7
Total number of shares	:	n/a

Currency

:

USD - US Dollar

No.	Shareholders	Country	Shares
			Number	Amount (USD)	%
1	GIA DINH TEXTILE & GARMENT CO LTD	Vietnam	n/a	1,998,000	30.00
2	GREAT NOBLE LTD	United Kingdom	n/a	1,598,400	24.00
3	EVE STARS INVESTMENT CO LTD	Virgin Islands (British)	n/a	799,200	12.00
4	Mr. Kun-Yen Fu	Taiwan	n/a	765,900	11.50
5	Mr. Ting-Yuan Huang	Taiwan	n/a	765,900	11.50
6	Mr. Hai-Shu Chou	Taiwan	n/a	466,200	7.00
7	BOCHANG INTERNATIONAL LTD	Hong Kong	n/a	266,400	4.00
Total			n/a	6,660,000	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	60%
International Sales (Export)	40%

Annual Purchases Analysis	Percentage
Local Purchases	20%
Imports	80%

PAYMENT TERMS

Selling

Type	Terms
Local	Cash on delivery (COD)
Export	Letter of Credit (At-sight) Telegraphic Transfer (T/T) - Received at time of transaction

Purchasing

Type	Terms
Local	Cash on delivery (COD)
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 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	:	SAIGON JOUBO TEXTILE CO LTD
Primary Business Activity	:	Manufacturer
Primary Industry	:	Textiles & Raw Material
Office Contact Details
Operating Address	:	191 Bui Minh Truc St Ward 6, District 8, Ho Chi Minh
Tel	:	[+84] 8-38569041
	:	[+84] 8-39814708
	:	[+84] 8-39810423
Fax	:	[+84] 8-38504861
Email	:	saigonjoubo@hcm.vnn.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	:	0300699188

Primary Products

Products / Materials / Services Description	Activity
Apparel	Manufacturing, Exporting
Cotton yarns	Manufacturing, Exporting
Denim	Manufacturing, Exporting
Fabric jeans	Manufacturing, Exporting
Open-end yarns	Manufacturing, Exporting

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Apparel and accessories, nspf	2389	Manufacturing, Exporting
Apparel/Other Textile Products	2300	Manufacturing, Exporting
Fabricated textile products, nspf	2399	Manufacturing, Exporting
Textile goods, nspf	2299	Manufacturing, Exporting

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Articles of apparel	4203100090	Manufacturing, Exporting
Cotton yarn (not sewing thread) nu 85% cot no retail	5205	Manufacturing, Exporting
Textile fabrics (not tire cord) coat etc, plastics	5903	Manufacturing, Exporting
Textile products etc. for specific tech uses	5911	Manufacturing, Exporting

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

Products / Materials / Services Description	Ranking	Activity
Textile products	Primary	Manufacturing, Exporting

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of SAIGON JOUBO TEXTILE CO LTD is Manufacturing - Finished products.

Key products include :

Apparel

Cotton yarns

Denim

Fabric jeans

Supplementary Business

In addition to the core business, SAIGON JOUBO TEXTILE CO LTD also is engaged in the following areas of business:

Exporting

Exporting - Finished products

Importing

Importing - Raw materials

INTERNATIONAL TRADE - Activity & Markets

Country / Region	Estimated level of importance	Trading Activity
Asia / Pacific	Medium	Importing, Exporting
Europe	Medium	Importing
North America	Medium	Importing, Exporting
Australia	Medium	Exporting
Belgium	Medium	Importing
Germany	Medium	Importing
Hong Kong	Medium	Exporting
Japan	Medium	Importing, Exporting
Switzerland	Medium	Importing
Taiwan	Medium	Importing, Exporting
USA	Medium	Importing, Exporting

OFFICE & FACILITIES

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

Name	:	SAIGON JOUBO TEXTILE CO LTD - DISTRICT 8, HO CHI MINH
Primary Use	:	Office & Administration facilities
Building Size	:	55,100 Square meters
Address	:	191 Bui Minh Truc St Ward 6, District 8, Ho Chi Minh
Country	:	Vietnam
Status	:	Operational

FACTORY EQUIPMENT

The firm's factory maintains the following types of equipment:

Equipment Name	Brand	Origin	Year	Qnty
Rapier Machine	n/a	Belgium	n/a	n/a
Rapier Machine	n/a	Japan	n/a	100

PREVIOUS CONTACT DETAILS

Website	:	http://www.saigonjoubo.com
Company Address	:	23 Ben Xom Cui, District 8, Ho Chi Minh
Telephone Number	:	84-8-8555265

NOTES & COMMENTS

N/a

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.52
UK Pound	1	Rs.95.96
Euro	1	Rs.70.54

INFORMATION DETAILS

Analysis Done by :	RAS
Report Prepared by :	ANK

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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