MIRA INFORM REPORT

Report No. :	321488
Report Date :	22.05.2015

IDENTIFICATION DETAILS

Name :	SPEEDTECH INDUSTRIAL CO LTD
Registered Office :	Manhattan (Svay Rieng) Special Economic Zone National Rd 1 Sangkat Bavet Krong, Bavet, Svay Rieng
Country :	Cambodia
Date of Incorporation :	01.12.2011
Legal Form :	Private Company with Limited Liability
Line of Business :	Subject is manufacturer of toys, sporting & leisure equipment
No. of Employee :	58

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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
Cambodia	B1	B2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

CAMBODIA - ECONOMIC OVERVIEW

Since 2004, garments, construction, agriculture, and tourism have driven Cambodia's growth. GDP climbed at least 7% per year between 2011 and 2014. The garment industry currently employs about 500,000 people and accounts for some 70% of Cambodia's total exports. In 2005, exploitable oil deposits were found beneath Cambodia's territorial waters, representing a potential revenue stream for the government, if commercial extraction becomes feasible. Mining also is attracting some investor interest and the government has touted opportunities for mining bauxite, gold, iron and gems. The tourism industry has continued to grow rapidly with foreign arrivals exceeding 2 million per year since 2007 and reaching over 3 million visitors in 2012. Cambodia, nevertheless, remains one of the poorest countries in Asia and long-term economic development remains a daunting challenge, inhibited by endemic corruption, limited educational opportunities, high income inequality, and poor job prospects. Approximately 4 million people live on less than $1.25 per day, and 37% of Cambodian children under the age of 5 suffer from chronic malnutrition. More than 50% of the population is less than 25 years old. The population lacks education and productive skills, particularly in the impoverished countryside, which also lacks basic infrastructure. The Cambodian Government is working with bilateral and multilateral donors, including the Asian Development Bank, the World Bank and IMF, to address the country's many pressing needs; more than 50% of the government budget comes from donor assistance. A major economic challenge for Cambodia over the next decade will be fashioning an economic environment in which the private sector can create enough jobs to handle Cambodia's demographic imbalance. Worker unrest over labor conditions and the minimum monthly wage will prove challenging.

Source : CIA

REGISTERED NAME & COMPANY SUMMARY

Organization Name	:	SPEEDTECH INDUSTRIAL CO LTD
Address	:	Manhattan (Svay Rieng) Special Economic Zone National Rd 1 Sangkat Bavet Krong, Bavet, Svay Rieng
Country	:	Cambodia
Phone (S)	:	[+855] 44-715644
Primary Business Activity	:	Manufacturer
Key Industry	:	Toys, Sporting & Leisure Equipment

Key Facts
Registered Legal Address	:	Manhattan (Svay Rieng) Special Economic Zone National Rd 1 Sangkat Bavet Krong, Bavet, Svay Rieng
Operational Address	:	Manhattan (Svay Rieng) Special Economic Zone National Rd 1 Sangkat Bavet Krong, Bavet, Svay Rieng
Issuing Authority	:	Ministry of Commerce - Commercial Registry - National
License Number	:	Inv.2848E/2011
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 Dec, 2011
Employees	:	58
Capital	:	US$ 1,000,000

DIRECTORS/MANAGEMENT

COMPANY MANAGEMENT

Management Listings

	Name	Nationality	Job Description	Dept. / Division
1	Mr. Mei-Hui Hsu	Taiwanese	Partner	-
2	Mr. Jung-Chih Lu	Taiwanese	Partner	-

Management Details - 1

Personal Unique Identifier	:	MI03857198
Name	:	Mr. Mei-Hui Hsu

Management Details - 2

Personal Unique Identifier	:	MI03857199
Name	:	Mr. Jung-Chih Lu

COMPANY DIRECTORS

1
Personal Unique Identifier	:	MI03857197
Name	:	Mr. Yuh-Ting Fang

NEGATIVE INFORMATION

REPUTATION

Reference checking for the purpose of establishing SPEEDTECH INDUSTRIAL 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

:

$ 1,000,000

PAYMENT INFORMATION

DOMESTIC SALES & PURCHASES

Annual Sales Analysis	Percentage
Domestic Sales	90%
International Sales (Export)	10%

Annual Purchases Analysis	Percentage
Local Purchases	100%

PAYMENT TERMS

Selling

Type	Terms
Local	Cash on delivery (COD) Credit - Secured with Post-dated checks 30~90 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 30~90 days

SHAREHOLDERS

Total number of shareholders	:	3
Total number of shares	:	1,000

Currency

:

USD - US Dollar

No.	Shareholders	Country	Shares
			Number	Amount (USD)	%
1	Mr. Yuh-Ting Fang	Taiwan	900	n/a	90.00
2	Mr. Jung-Chih Lu	Taiwan	50	n/a	5.00
3	Mr. Mei-Hui Hsu	Taiwan	50	n/a	5.00
Total			1,000	n/a	100.00

GROUP STRUCTURE & AFFILIATED COMPANIES

N/a

FINANCIAL INFORMATION

FINANCIAL STATEMENT - DETAILED

Based on the corporate laws of Cambodia, 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

Country	:	Cambodia
Business Entity Name	:	SPEEDTECH INDUSTRIAL CO LTD
Primary Business Activity	:	Manufacturer
Primary Industry	:	Toys, Sporting & Leisure Equipment
Office Contact Details
Operating Address	:	Manhattan (Svay Rieng) Special Economic Zone National Rd 1 Sangkat Bavet Krong, Bavet, Svay Rieng
Tel	:	[+855] 44-715644
Tax / VAT Details
Tax Number	:	n/a

Key Person

Legal Title	:	Chairman
Name	:	Mr. Yuh-Ting Fang
Nationality	:	Taiwanese

Primary Products

Products / Materials / Services Description	Activity
Bicycles	Manufacturing, Exporting

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Motorcycles, bicycles, and parts, nspf	3751	Manufacturing, Exporting

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Bicycles	8712004800	Manufacturing, Exporting

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of SPEEDTECH INDUSTRIAL CO LTD is Manufacturing - Finished products.

Key product include :

Bicycles

An integral part of the core business includes:

Distribution

Supplementary Business

In addition to the core business, SPEEDTECH INDUSTRIAL CO LTD also is engaged in the following areas of business:

Exporting

Exporting - Finished products

INTERNATIONAL TRADE - Activity & Markets

Country / Region	Estimated level of importance	Trading Activity
Asia / Pacific	Medium	Exporting

OFFICE & FACILITIES

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

Name	:	SPEEDTECH INDUSTRIAL CO LTD - BAVET, SVAY RIENG
Primary Use	:	Office & Administration facilities
Employees	:	58
Address	:	Manhattan (Svay Rieng) Special Economic Zone National Rd 1 Sangkat Bavet Krong, Bavet, Svay Rieng
Country	:	Cambodia
Status	:	Operational

NOTES & COMMENTS

N/a

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.70
UK Pound	1	Rs.98.92
Euro	1	Rs.70.67

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	ASH

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.