MIRA INFORM REPORT

Report Date :

30.12.2008

IDENTIFICATION DETAILS

Name :	Alpla (Hefei) Plastic Co., Ltd.
Registered Office :	No.16 Shinan Road, Boyan Industrial Park, Hi-New Development Zone, Hefei, Anhui Province, 230088 Pr
Country :	China
Date of Incorporation :	12.03.2008
Com. Reg. No.:	340100400002299
Legal Form :	Wholly Foreign-Owned Enterprise

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	New Company
Payment Behaviour :	Unknown
Litigation :	Clear

name & address

Alpla (Hefei) Plastic Co., Ltd.

no.16 shinan road, boyan industrial park, hi-new development zone,

hefei, anhui PROVINCE, 230088 PR CHINA

TEL: 86 (0) 551-3686916 FAX: 86 (0) 551-3686900

EXECUTIVE SUMMARY

INCORPORATION DATE : march 12, 2008

REGISTRATION NO. : 340100400002299

REGISTERED LEGAL FORM : Wholly foreign-owned enterprise

CHIEF EXECUTIVE : MR. bernd wachter (CHAIRMAN)

STAFF STRENGTH : 45

REGISTERED CAPITAL : usd 8,000,000

BUSINESS LINE : manufacturing

TURNOVER : n/a

EQUITIES : n/a

PAYMENT : Not yet determined

RECOMM. CREDIT RANGE : small amount

MARKET CONDITION : fair

FINANCIAL CONDITION : UNDTERMINED

OPERATIONAL TREND : fairly steady

GENERAL REPUTATION : AVERAGE

EXCHANGE RATE : CNY6.85 = USD1

Adopted abbreviations:

ANS - amount not stated

NS - not stated

SC - subject company (the company inquired by you)

NA - not available

CNY - China Yuan Renminbi

SC was registered as a wholly foreign-owned enterprise at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on March 12, 2008.

Company Status: Wholly foreign-owned enterprise

This form of business in PR China is defined as a legal person. It is a limited co. established within the territories of PR China with capital provided totally by the foreign investors. More than one foreign investor may jointly invest in a wholly foreign-owned enterprise. The investing party/parties solely exercise management, reap profit and bear risks and liabilities by themselves. This form of companies usually have a limited duration is extendible upon approval of Examination and Approval Authorities.

SC’s registered business scope includes recycling waste plastic, manufacturing and selling plastic packaging new products and injection molds.

SC has not started its normal operation yet.

Mr. bernd wachter has been chairman of SC since 2008.

SC is known to have approx. 45 employees at present.

SC is currently operating at the above stated address, and this address houses its operating office and factory in the development zone of Hefei. Our checks reveal that SC owns the total premise about 44,800 square meters.

SC is not known to host web site of its own at present.

Changes of its registered information are as follows:

Date of change	Item	Before the change	After the change
2008-12	Chairman	Christoph Riedlsperg	bernd wachter

MAIN SHAREHOLDERS:

Name % of Shareholding

(Austria) Alpla Holdings GmbH 100

l Chairman:

Mr. bernd wachter, Austrian, 37 years old with university education. He is currently responsible for the overall management of SC.

Working Experience(s):

From 2008 to present Working in SC as chairman.

l General Manager:

Mr. Yu Fayou, German, 41 years old with university education. He is currently responsible for the daily management of SC.

Working Experience(s):

From 2008 to present Working in SC as general manager.

SC has not started its normal operation yet, and it is expected to begin in 2009.

SC is not known to have any subsidiary at present.

Overall payment appraisal :

( ) Excellent ( ) Good ( ) Average ( ) Fair ( ) Poor (X) Not yet determined

The appraisal serves as a reference to reveal SC's payments habits and ability to pay. It is based on the 3 weighed factors: Trade payment experience (through current enquiry with SC's suppliers), our delinquent payment and our debt collection record concerning SC.

Trade payment experience : None in our database.

Delinquent payment record : None in our database.

Debt collection record : No overdue amount owed by SC was placed to us for collection within the last 6 years.

Bank of Communications Hefei Branch

AC#341309000018010062824

Relationship: Normal.

SC has not started its normal operation yet, so its financial reports are not available at present.

Established in March of 2008, SC has not started its normal operation yet. In view of its operational size and background, credit dealings of small amount can be considered at present.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.48.50
UK Pound	1	Rs.70.02
Euro	1	Rs.67.95

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.	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