MIRA INFORM REPORT

Report Date :

05.06.2007

IDENTIFICATION DETAILS

Name :	EVERGREEN GLOBAL PTE LTD
Registered Office :	^77 High Street, #10-05, High Street^Plaza, Singapore^– 179433
Country :	Singapore
Date of Incorporation :	^15/05/1989
Com. Reg. No.:	^198901946N
Legal Form :	^Exempt Pte Ltd
Line of Business :	Distribution of Various Brands of Tyres and Tubes Supplier of Renowned Brands of Textile Raw Materials

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	Regular
Litigation :	Exists

Subject Company

EVERGREEN GLOBAL PTE LTD

Line Of Business 

--

* SUBJECT ENGAGES IN THE BUSINESS OF DISTRIBUTION OF VARIOUS BRANDS OF TYRES AND

TUBES

* SUPPLIER OF RENOWNED BRANDS OF TEXTILE RAW MATERIALS

Parent Company

--

Financial Elements

Sales : -

Networth : -

Paid-Up Capital : S$7,000,000

Net result : -

Net Margin(%) : -

Return on Equity(%) : -

Leverage Ratio : -

COMPANY IDENTIFICATION

^{Subject Company : EVERGREEN GLOBAL PTE LTD}

^{Former Name : -}

^{Business Address : 77 HIGH STREET}

^#10-05

^{HIGH STREET PLAZA}

^{Town : SINGAPORE}

^{Postcode : 179433}

^{County : -}

^{Country : Singapore}

^{Telephone : 6336 5251}

^{Fax : 6336 6961}

^{ROC Number : 198901946N}

^{Reg. Town : -}

SUMMARY

^{All amounts in this report are in : SGD}

^{Legal Form : Exempt Pte Ltd}

^{Date Inc. : 15/05/1989}

^{Previous Legal Form : -}

^{Summary year : -}

^{Sales : -}

^{Net Worth : -}

^{Paid-Up Capital : 7,000,000}

^{Employees : 16}

^{Net Result : -}

^{Auditor : NATARAJAN & SWAMINATHAN}

REFERENCES

^{Litigation : YES}

^{Company status : TRADING}

^{Started : 15/05/1989}

PRINCIPAL(S)

^{RAM NIRANJAN S2568718C Director}

DIRECTOR(S)

^{RAM NIRANJAN S2568718C Director}

^{Appointed on : 15/05/1989}

^{Street : 44 POOLE ROAD}

^{Town : SINGAPORE}

^{Postcode : 437532}

^{Country : Singapore}

^{NAVIN JATIA S7070323H Director}

^{Appointed on : 14/09/1994}

^{Street : 44 POOLE ROAD}

^{Town : SINGAPORE}

^{Postcode : 437532}

^{Country : Singapore}

^{SAMRIDHI JATIA S7173680F Director}

^{Appointed on : 10/12/1996}

^{Street : 44 POOLE ROAD}

^{Town : SINGAPORE}

^{Postcode : 437532}

^{Country : Singapore}

^{NAVIN JATIA S7070323H Company Secretary}

^{Appointed on : 10/12/2003}

^{Street : 44 POOLE ROAD}

^{Town : SINGAPORE}

^{Postcode : 437532}

^{Country : Singapore}

FORMER DIRECTOR(S)

^{RAJENDRA PRASAD SINGHANIA 067252}

^{KAMAL KISHORE T447808}

^{OM PRAKASH F2260229L}

ACTIVITY (IES)

^{YARN - WHSLE And MFRS Code: 24260}

^{TEXTILE MFRS Code: 21460}

^{TYRE DISTRS And MFRS Code: 22750}

^{IMPORTERS And EXPORTERS Code: 11760}

^{BASED ON ACRA'S RECORD AS AT 30/05/2007}

^{1) WHOLESALE OF TEXTILE; INTERNATIONAL DISTRIBUTORS OF TEXTILE & TEXTILE GRADE RAW MATERIALS}

CHARGES

^{Date : 24/06/2005}

^{Comments : CHARGE NO: C200503588}

^{AMOUNT SECURED: 0.00 & ALL MONIES OWING}

^{CHARGEE(S): CITIBANK N.A.}

^{Date : 11/05/2005}

^{Comments : CHARGE NO: C200502724}

^{AMOUNT SECURED: 0.00 & ALL MONIES OWING}

^{CHARGEE(S): STANDARD CHARTERED BANK}

^{Date : 28/06/2005}

^{Comments : CHARGE NO: C200503648}

^{AMOUNT SECURED: 0.00 AND ALL MONIES OWING}

^{CHARGEE(S): UCO BANK}

^{Date : 09/11/2005}

^{Comments : CHARGE NO: C200506958}

^{AMOUNT SECURED: 0.00 AND ALL MONIES OWING}

^{CHARGEE(S): UNITED OVERSEAS BANK LTD}

^{Date : 10/07/2006}

^{Comments : CHARGE NO: C200604459}

^{AMOUNT SECURED: 0.00 AND ALL MONIES OWING}

^{CHARGEE(S): OVERSEA-CHINESE BANKING CORPORATION LTD}

^{Date : 27/01/2005}

^{Comments : HARGE NO: C200500550}

^{AMOUNT SECURED: 0.00 AND ALL MONIES OWING}

^{CHARGEE(S): DBS BANK LTD}

^{Date : 09/12/2004}

^{Comments : CHARGE NO: C200406222}

^{AMOUNT SECURED: 0.00 AND ALL MONIES OWING}

^{CHARGEE(S): SUMITOMO MITSUI BANKING CORPN SINGAPORE BRANCH}

^{Date : 09/12/2004}

^{Comments : CHARGE NO: C200406221}

^{AMOUNT SECURED: 0.00 AND ALL MONIES OWING}

^{CHARGEE(S): SUMITOMO MITSUI BANKING CORPN SINGAPORE BRANCH}

^{Date : 07/07/2004}

^{Comments : CHARGE NO: C200403270}

^{AMOUNT SECURED: USD300,000.00}

^{CHARGEE(S): CITIBANK N.A.}

^{Date : 18/11/2003}

^{Comments : CHARGE NO: C200305555}

^{AMOUNT SECURED: 0.00 AND ALL MONIES OWING}

^{CHARGEE(S): THE HONGKONG & SHANGHAI BANKING CORPN LTD}

PREMISES/PROPERTY INFORMATIONS

No Premises/Property Information In Our Databases

BANKERS

^{UNITED OVERSEAS BANK LIMITED}

^{CITIBANK N.A.}

^{STANDARD CHARTERED BANK (HONG KONG) LIMITED}

^{THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD}

^{SUMITOMO MITSUI BANKING CORPORATION}

^{OVERSEA-CHINESE BANKING CORPORATION LTD}

^{DBS BANK LTD.}

^{UCO BANK}

^{INDIAN BANK}

SHAREHOLDERS(S)

^{RAM NIRANJAN 1,750,000 Private Person}

^{Street : 44 POOLE ROAD}

^{Town : SINGAPORE}

^{Postcode : 437532}

^{Country : Singapore}

^{NAVIN JATIA 3,500,000 Private Person}

^{Street : 44 POOLE ROAD}

^{Town : SINGAPORE}

^{Postcode : 437532}

^{Country : Singapore}

^{SHAKUNTALA DEVI 1,750,000 Private Person}

^{Street : 44 POOLE ROAD}

^{Town : SINGAPORE}

^{Postcode : 437532}

^{Country : Singapore}

FORMER SHAREHOLDER(S)

^{RAJENDRA PRASAD SINGHANIA 1}

SUBSIDIARY (IES)

No Participation In Our Database

PAYMENT HISTORY AND EXPERIENCES

Trade Morality : AVERAGE

Liquidity : UNKNOWN

Payments : REGULAR

Trend : LEVEL

Financial Situation : UNKNOWN

LITIGATION(S)

^{Type Of Case : Magistrate Court - W/S}

^{Case Number : MCS15355/1999}

Defendant EVERGREEN GLOBAL PTE LTD ROC # : 198901946N

^{Type Of Case : Magistrate Court - W/S}

^{Case Number : MCS02150/1996}

Defendant EVERGREEN GLOBAL PTE LTD ROC # : 198901946N

^{Type Of Case : Magistrate Court - W/S}

^{Case Number : MCS19789/1995}

Defendant EVERGREEN GLOBAL PTE LTD ROC # : 198901946N

FINANCIAL COMMENTS

^{LIMITED EXEMPT PRIVATE COMPANY:}

^{WHERE THE SHARES OF A PRIVATE COMPANY ARE NOT OWNED BY ANY CORPORATE BODY AND THERE ARE NO MORE THAN 20 MEMBERS, THE PRIVATE COMPANY IS KNOWN AS AN EXEMPT PRIVATE COMPANY.}

^{AN EXEMPT PRIVATE COMPANY ENJOYS A GREATER AMOUNT OF PRIVACY THAN A PRIVATE COMPANY. IT IS NOT REQUIRED TO FILE ACCOUNTS WITH THE REGISTRAR IF IT CAN PRODUCE A CERTIFICATE SIGNED BY ONE OF ITS DIRECTORS, SECRETARY AND AUDITOR CONFIRMING THE FOLLOWING POINTS:}

^{1. THE COMPANY IS AN EXEMPT PRIVATE COMPANY.}

^{2. THE AUDITED ACCOUNTS HAVE BEEN TABLED BEFORE THE SHAREHOLDERS AT THE ANNUAL GENERAL MEETING.}

^{3. THE COMPANY IS ABLE TO MEET ITS LIABILITIES.}

^{THERE IS THEREFORE NO DISCLOSURE TO THE PUBLIC OF THE ACCOUNTS OF THE COMPANY ALTHOUGH THE ACCOUNTS STILL HAVE TO BE AUDITED EVERY YEAR AND APPROVED AT AN ANNUAL GENERAL MEETING OF THE COMPANY.}

^{A PRIVATE COMPANY THAT IS WHOLLY OWNED BY THE GOVERNMENT MAY BECOME AN EXEMPT PRIVATE COMPANY IF THE MINISTER FOR FINANCE, IN THE NATIONAL INTEREST, DECLARES IT TO BE SUCH BY A GAZETTE NOTIFICATION.}

^{EXEMPT FROM AUDIT}

^{AN EXEMPT PRIVATE COMPANY IS EXEMPT FROM AUDIT REQUIREMENTS IF THE STARTING DATE OF ITS FINANCIAL YEAR IS BETWEEN 15 MAY 2003 AND 31 MAY 2004 AND ITS TURNOVER FOR THAT FINANCIAL YEAR DOES NOT EXCEED $2.5 MILLION. FOR FINANCIAL YEARS STARTING 1 JUNE 2004, THE AMOUNT OF THE TURNOVER HAS BEEN RAISED TO $5 MILLION. THESE COMPANIES ARE STILL REQUIRED TO MAINTAIN PROPER ACCOUNTING.}

^{* THE LATEST FINANCIAL STATEMENTS FILED IN BY THE COMPANY AS AT YEAR ENDED 30/09/2006 ARE NOT AVAILABLE. AS SUCH, ADVERSE CHECKS ON THE LOCAL DIRECTORS WILL BE CONDUCTED.}

BACKGROUND/OPERATION

^{THE COMPANY WAS INCORPORATED IN THE REPUBLIC OF SINGAPORE ON 15/05/1989 AS A LIMITED EXEMPT PRIVATE COMPANY AND IS TRADING UNDER ITS PRESENT NAMESTYLE OF "EVERGREEN GLOBAL PTE LTD".}

^{AS AT 30/05/2007, THE COMPANY HAS AN ISSUED AND PAID UP CAPITAL OF 7,000,000 SHARES OF A VALUE OF S$7,000,000.}

^{PRINCIPAL ACTIVITIES:}

^{SUBJECT IS REGISTERED WITH THE ACCOUNTING AND CORPORATE REGULATORY AUTHORITY (ACRA) TO BE PRINCIPALLY ENGAGED IN THE BUSINESS OF:}

^{1) WHOLESALE OF TEXTILE; INTERNATIONAL DISTRIBUTORS OF TEXTILE & TEXTILE GRADE RAW MATERIALS}

^{2) INTERNATIONAL DISTRIBUTORS OF AUTOMOTIVE TYRES}

^{FROM OUR RESEARCH DONE, THE FOLLOWING INFORMATION HAS BEEN GATHERED.}

^{SUBJECT IS LISTED IN THE SINGAPORE LOCAL DIRECTORY UNDER THE CLASSIFICATION OF: ELECTRONIC EQUIPMENT AND SUPPLIES - DEALERS.}

^{SUBJECT ENGAGES IN THE FOLLOWING ACTIVITIES:}

^{* SUBJECT ENGAGES IN THE BUSINESS OF DISTRIBUTION OF VARIOUS BRANDS OF TYRES AND TUBES}

^{* SUPPLIER OF RENOWNED BRANDS OF TEXTILE RAW MATERIALS}

^PRODUCTS

^{* AUTOMOTIVE TYRES}

^{- TRUCKS AND BUSES}

^{- LIGHT COMMERCIAL VEHICLES}

^{- PASSENGER CAR RADIALS}

^{- OFF THE ROAD APPLICATIONS}

^{- AGRICULTURAL APPLICATIONS}

^{* YARN PRODUCTS}

^{- POLYESTER PARTIALLY ORIENTED YARN (POY)}

^{- POLYESTER TEXTURISED YARN (PTY)}

^{- POYESTER FILAMENT YARN (PFY)}

^{- POLYESTER STAPLE FIBRE}

^{- VISCOSE STAPLE FIBRE}

^{- POLYESTER CHIPS}

^{- BLENDED SPUN YARNS}

^{- POLYESTER/COTTON (T/C)}

^{- POLYESTER/VICOSE (T/R)}

^{- 100% POLYESTER SPUN YARNS}

^{- 100% COTTON YARNS}

^{- 100% VISCOSE RAYON FILAMENT YARNS}

^{TRADE NAMES/BRANDS:}

^{* CEAT, VIKRANT, VIRLA, SUPERSPONE, MATRIX YELLOW SEA, UNITED INDO AND LONGMARCH ETC.}

^{IMPORT COUNTRIES:}

^{* INDONESIA, THAILAND, TAIWAN, KOREA, MALAYSIA, INDIA AND CHINA}

^{MARKET PRESENCE (EXPORT COUNTRIES):}

^{* ASIA: INDIA, NEPAL, BANGLADESH, SRI LANGKA, VIETNAM AND PHILIPPINES}

^{* EUROPE: SPAIN, PORTUGAL, ITALY AND POLAND}

^{* SOUTH AMERICA: BRAZIL, ARGENTINA, COLOMBIA, VENEZUELA, PERU AND CHILE}

^{* MIDDLE EAST: EGYPT, SYRIA, IRAN, TURKEY, JORDAN AND LEBANON}

^{* AFRICA: KENYA, ZIMBABWE AND ALGERIA}

^{* NORTH AMERICA: CANADA AND MEXICO}

^{GLOBAL BRANCH OFFICES}

^{* VIETNAM: HO CHI MINH CITY (EVERGREEN GLOBAL PTE LTD)}

^{* MYANMAR: YANGON (EVERGREEN GLOBAL ENT LTD)}

^{* INDIA: BOMBAY (RAGOSON TRADING CO PVT LTD)}

^{* UAE: DUBAI (EVERGREEN GLOBAL LLC)}

^{SUBJECT IS A MEMBER OF THE FOLLOWING ENTITY:}

^{* SINGAPORE BUSINESS FEDERATION}

^{SUBJECT HAS BUSINESS INTERESTS IN THE FOLLOWING ENTITIES:}

^{* AL-AUBAIH}

^{* SOH KOK WAH}

^{BASED ON AN EARLIER INTERVIEW CONDUCTED ON 28/02/2006, THE FOLLOWING INFORMATION WAS REVEALED:}

^ACTIVITIES

^{* TRADING OF YARN AND TYRES}

^{TRADING COUNTRIES:}

^{* EUROPE AND ASIA COUNTRIES}

^{NUMBER OF EMPLOYEES}

^{* AROUND 16}

^{SUBJECT DECLINED A REQUEST FOR A TELE-INTERVIEW ON 05/06/2007, HENCE NO OTHER UPDATED TRADE INFORMATION WAS MADE AVAILABLE AT THE TIME OF THIS REPORT.}

^{REGISTERED ADDRESS:}

^{1 NORTH BRIDGE ROAD}

^#19-05

^{HIGH STREET CENTRE}

^{SINGAPORE 179094}

^{DATE OF CHANGE OF ADDRESS: -}

^{BUSINESS ADDRESS:}

^{77 HIGH STREET}

^#10-05

^{HIGH STREET PLAZA}

^{SINGAPORE 179433}

^{-- RENTED PREMISE}

^{-- PREMISE OWNED BY: RAM NIRANJAN}

^EMAIL:

^{* enquiry@evergreen-global.com}

^{* navin@swiftech.com.sg}

^WEBSITE:

^{* http://www.evergreen-global.com}

MANAGEMENT

^{THE DIRECTORS AT THE TIME OF THE REPORT ARE}

^{1) RAM NIRANJAN, A SINGAPORE PERMANENT RESIDENT}

^{- HOLD OTHER DIRECTORSHIP(S) AS RECORDED IN OUR DATABASE:}

^{MILANSAR PTE LTD}

^{2) NAVIN JATIA, A SINGAPOREAN}

^{- HOLD OTHER DIRECTORSHIP(S) AS RECORDED IN OUR DATABASE:}

^{MILANSAR PTE LTD}

^{TERAMOND PTE LTD}

^{3) SAMRIDHI JATIA, A SINGAPOREAN}

^{- HOLD NO OTHER DIRECTORSHIP(S) AS RECORDED IN OUR DATABASE}

ADVERSE ON DIRECTORS

^{DIRECTOR'S NAME: RAM NIRANJAN}

^{ADVERSE REPORT AGAINST DIRECTOR: NIL}

^{PROPERTY OWNERSHIP: OWNS 1}

^{ANNUAL VALUE: S$14,300}

^{CO-OWNER: NIL}

^{DIRECTOR'S NAME: NAVIN JATIA}

^{ADVERSE REPORT AGAINST DIRECTOR: NIL}

^{PROPERTY OWNERSHIP: OWNS 1}

^{ANNUAL VALUE: S$36,000}

^{CO-OWNER: NIL}

^{DIRECTOR'S NAME: SAMRIDHI JATIA}

^{ADVERSE REPORT AGAINST DIRECTOR: NIL}

^{PROPERTY OWNERSHIP: NIL}

^{ANNUAL VALUE: N.A.}

^{CO-OWNER: N.A.}

^{ANNUAL VALUE IS THE ESTIMATED ANNUAL RENT THE PROPERTY CAN FETCH IF IT WERE RENTED OUT. THE ANNUAL VALUE IS DETERMINED IN THE SAME MANNER REGARDLESS OF WHETHER THE PROPERTY IS LET-OUT, OWNER-OCCUPIED OR VACANT.}

Singapore’s Country Rating 2007

Investment Grade

IN SINGAPORE, THE POLITICAL SITUATION REMAINS STABLE.

SINGAPORE BOASTS THE BEST GOVERNANCE IN ASIA, WITH AN EFFECTIVE LEGAL SYSTEM FACILITATING DEBT COLLECTION AND TO A HIGH DEGREE OF FINANCIAL TRANSPARENCY.

EXTERNAL ACCOUNTS HAVE REMAINED SUBSTANTIALLY IN SURPLUS, CONTRIBUTED TO THE DYNAMISM OF THE ELECTRONICS AND PHARMACEUTICALS SECTORS AND TO REPATRIATION OF PROFITS FROM SINGAPORE INVESTMENTS. THE FINANCIAL AND TOURISM SECTORS HAVE ALSO CONTRIBUTED TO THE LARGE CURRENT ACCOUNT SURPLUS.

SINGAPORE CONTINUES TO KEENLY WELCOME FOREIGN INVESTMENT AND OFFERS A VERY OPEN AND WELL-PLANNED ECONOMIC AND POLITICAL ENVIRONMENT. IT HAS BEEN IMPLEMENTING AMBITIOUS DIVERSIFICATION STRATEGY, FOCUSED PARTICULARLY ON THE CHEMICALS AND PHARMACEUTICAL SECTORS.

THE GOVERNMENT USES FOREIGN DIRECT INVESTMENT TO DEVELOP PRIORITY SECTORS (ELECTRONICS, CHEMICALS, BIOTECHNOLOGY). THE AIM IS TO ENCOURAGE THE GROWTH OF HIGH ADDED-VALUE ACTIVITIES AND TURN SINGAPORE INTO A REGIONAL HUB FOR FOREIGN INVESTORS INTERESTED IN ASIA.

CERTAIN SECTORS (MEDIA, LEGAL AND FINANCIAL SERVICES) ARE HOWEVER ONLY PARTIALLY OPEN TO FOREIGN INVESTMENT. THESE SECTORS ARE SLOWLY OPENING UP, BUT THE PROGRESS IS SLOW.

AFTER HIGH GROWTH IN 2006, BUOYED BY THE DYNAMISM OF BOTH EXPORTS AND HOUSEHOLD CONSUMPTION, A SLOWDOWN IS EXPECTED IN 2007.

ASSETS

• MAJOR EXPORTER OF CAPITAL IN ASIA, NOTABLY VIA THE STATE-OWNED TEMASEK HOLDING COMPANY.
• HIGH QUALITY COMPETITIVENESS IN ASIA
• EXCELLENT BUSINESS CLIMATE
• POLITICAL STABILITY.

WEAKNESSES

• SKILLED MANPOWER HAS BEEN LACKING IN THE SECTORS TARGETED FOR DEVELOPMENT.
• AN AGEING POPULATION COULD, ULTIMATELY, AFFECT ECONOMIC PERFORMANCE.
• GROWING INEQUALITY AND THE EMERGENCE OF LONG-TERM UNEMPLOYMENT AMONG THE LEAST SKILLED COULD GENERATE SOCIAL TENSIONS.
• BEING THE WORLD’S MOST OPEN ECONOMY, IT HAS BEEN VULNERABLE TO WORLD ECONOMIC DOWNTURNS.

WHOLESALE AND RETAIL TRADE SECTOR

PAST PERFORMANCE

DOMESTIC WHOLESALE TRADE INDEX

DOMESTIC WHOLESALE TRADE IN 4Q 2006 HAS DECLINED BY 6.9%. EXCLUDING PETROLEUM, DOMESTIC SALES REMAINED AT SIMILAR LEVEL COMPARED TO THE PREVIOUS QUARTER.

GENERAL WHOLESALE TRADE POSTED THE LARGEST SALES DECREASE OF 16.6%, FOLLOWED BY THE SECTORS OF PETROLEUM AND PETROLEUM PRODUCTS OF 15.7% AND HOUSEHOLD EQUIPMENT AND FURNITURE OF 13.2%.

SECTORS OF INDUSTRIAL AND CONSTRUCTION MACHINERY AND ELECTRONIC COMPONENTS REGISTERED GROWTHS OF 17.0% AND 12.3%, RESPECTIVELY.

FOREIGN WHOLESALE TRADE INDEX

ON A QUARTER-TO-QUARTER BASIS, OVERALL FOREIGN WHOLESALE TRADE CONTRACTED BY 7.9% IN 4Q 2006 AFTER TWO QUARTERS OF POSITIVE GROWTH. FOREIGN SALES WENT DOWN BY 1.6%, EXCLUDING PETROLEUM.

THE SECTORS OF PETROLEUM AND PETROLEUM PRODUCTS AND ELECTRONIC COMPONENTS MARKED LOWER OVERSEAS SALE OF 14.2% AND 11.6% RESPECTIVELY IN 4Q 2006 OVER 3Q 2006.

RETAIL TRADE

IN GENERAL, RETAIL SALES GREW BY 7.9% IN 4Q 2006, UP FROM THE 5.2% IN THE PREVIOUS QUARTER. THIS BROUGHT FULL YEAR GROWTH FOR 2006 TO 6.9%, DOWN FROM 9.0% IN 2005. EXCLUDING MOTOR VEHICLE SALES, RETAIL SALES ROSE 4.1%, SLOWING FROM THE 7.2% GAIN IN THE PREVIOUS YEAR.

MOST RETAIL SECTORS REPORTED BRISK BUSINESS IN DEC. 2006. SALES OF RECREATIONAL GOODS, DEPARTMENT STORES, WEARING APPAREL AND FOOTWEAR, FURNITURE AND HOUSEHOLD EQUIPMENT, WATCHES AND JEWELLERY CLIMBED BY 36.6% TO 44.2% IN DEC. 2006 COMPARED TO THE PREVIOUS MONTH.

LIKEWISE, RETAILERS OF OPTICAL GOODS AND BOOKS, TELECOMMUNICATIONS APPARATUS AND COMPUTERS, FOOD AND BEVERAGES, MEDICAL GOODS AND TOILETRIES AND SUPERMARKETS ENJOYED GROWTH BETWEEN 12.7% TO 26.0%.

OUTLOOK

FOR WHOLESALE TRADE, A NET WEIGHTED BALANCE OF 11% OF FIRMS ANTICIPATES BUSINESS TO BE LESS BRISK FOR COMING MONTHS. THOSE DEALING IN JEWELLERY AND WATCHES, INDUSTRIAL MACHINERY AND EQUIPMENT, TELECOMMUNICATIONS EQUIPMENT AND ELECTRONIC COMPONENTS ARE AMONG THOSE WHO FORESEE SLOWER BUSINESS IN THE COMING MONTHS.

FOR RETAILERS, A NET WEIGHTED BALANCE OF 8%, FORECAST THE BUSINESS CONDITIONS TO IMPROVE IN THE NEXT SIX MONTHS. DEPARTMENT STORES OWNERS AND RETAILERS OF FURNITURE AND FURNISHINGS ARE OPTIMISTIC ABOUT THE BUSINESS PROSPECTS.

EXTRACTED FROM: MINISTRY OF TRADE AND INDUSTRY, SINGAPORE

SINGAPORE DEPARTMENT OF STATISTICS

TODAY

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	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	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
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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