MIRA INFORM REPORT

Report No. :	338168
Report Date :	04.09.2015

IDENTIFICATION DETAILS

Name :	ENSURE ENTERPRISE CO LTD
Registered Office :	Lot E7/E20 Viet Huong 2 Industrial Park An Tay Village, Ben Cat, Binh Duong
Country :	Vietnam
Date of Incorporation :	02.07.2008
Legal Form :	Private Company with Limited Liability
Line of Business :	Manufacturer of Leather Goods, Tanned & Imitation
No. of Employees :	30

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

COMPANY SUMMARY

Company Details
Organization Name	:	ENSURE ENTERPRISE CO LTD ^(1)
Name in Local Language		CÔNG TY TNHH ENSURE ENTERPRISE
Address	:	Lot E7/E20 Viet Huong 2 Industrial Park An Tay Village, Ben Cat, Binh Duong
Country	:	Vietnam
Phone (S)	:	[+84] 650-3581667
Facsimile	:	[+84] 650-3581669
Email	:	china.lins.ensure@hotmail.com
Primary Business Activity	:	Manufacturer
Key Industry	:	Leather Goods, Tanned & Imitation

Key Facts

Registered Legal Address

:

Lot E7/E20 Viet Huong 2 Industrial Park An Tay Village, Ben Cat, Binh Duong

Operational Address

:

Lot E7/E20 Viet Huong 2 Industrial Park An Tay Village, Ben Cat, Binh Duong

Issuing Authority

:

Dept. of Planning & Investment - Binh Duong

License Number

:

462023000521

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

:

2 Jul, 2008

Employees

:

30

Capital

:

US$ 2,800,000

PREVIOUS BUSINESS LICENSE/S

License Date	License No.
22 Jun, 2005	307/GP-KCN-BD

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. Fang-Lin Lin
Nationality	:	Taiwanese

COMPANY DIRECTORS

1
Personal Unique Identifier	:	MI03567675
Name	:	Mr. Fang-Lin Lin
Date of Birth	:	1963

NEGATIVE INFORMATION

REPUTATION

Reference checking for the purpose of establishing ENSURE ENTERPRISE 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

:

$ 2,800,000

SHAREHOLDERS

Total number of shareholders	:	2
Total number of shares	:	n/a

Currency

:

USD - US Dollar

No.	Shareholders	Country	Shares
			Number	Amount (USD)	%
1	CHINA LIN'S GROUP INTERNATIONAL CO LTD	Taiwan	n/a	n/a	62.50
2	Mr. Fang-Lin Lin	Taiwan	n/a	n/a	37.50
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	100%
International Sales (Export)	0%
Annual Purchases Analysis	Percentage
Local Purchases	5%
Imports	95%

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

DIRECT / INDIRECT CORPORATE PARENT DETAILS

Direct Corporate Parent	:	CHINA LIN'S GROUP INTERNATIONAL CO LTD
Global Identifier	:	P2913299
Legal Form Category	:	Private Company with Limited Liability
Country	:	Taiwan

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	:	ENSURE ENTERPRISE CO LTD
Primary Business Activity	:	Manufacturer
Primary Industry	:	Leather Goods, Tanned & Imitation
Office Contact Details
Operating Address	:	Lot E7/E20 Viet Huong 2 Industrial Park An Tay Village, Ben Cat, Binh Duong
Tel	:	[+84] 650-3581667
	:	[+84] 650-3581668
Fax	:	[+84] 650-3581669
Email	:	china.lins.ensure@hotmail.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	:	3700646066
Date of Issuance	:	18 Jul, 2005

Primary Products

Products / Materials / Services Description	Activity
Cow leather	Manufacturing
Goat leather	Manufacturing
Leather products	Manufacturing
Sheep leathers	Manufacturing

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Leather and Leather Products	3100	Manufacturing
Leather goods, nspf	3199	Manufacturing

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description	Code	Activity
Articles of leather	4205	Manufacturing

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of ENSURE ENTERPRISE CO LTD is Manufacturing - Finished products.
Key products include :

Cow leather

Goat leather

Leather products

Sheep leathers

An integral part of the core business includes:

Distribution

Supplementary Business

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

Importing

Importing - Raw materials

BANK DETAILS

Bank Name	:	JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM
Global Identifier	:	P1072025
Branch	:	Hanoi
Branch Address	:	JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM - BINH DUONG
SWIFT Code	:	BFTVVNVX

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

OFFICE & FACILITIES

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

Name	:	ENSURE ENTERPRISE CO LTD - BEN CAT, BINH DUONG
Primary Use	:	Office & Administration facilities
Address	:	Lot E7/E20 Viet Huong 2 Industrial Park An Tay Village, Ben Cat, Binh Duong
Country	:	Vietnam
Status	:	Operational

NOTES & COMMENTS

N/a

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.23
UK Pound	1	Rs.101.22
Euro	1	Rs.74.33

INFORMATION DETAILS

Analysis Done by :	KIN
Report Prepared by :	TRU

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.