MIRA INFORM REPORT

Report Date :

10.06.2008

IDENTIFICATION DETAILS

Name :	ACROSS CONTINENTS COMMUNICATIONS PTE. LTD.

Registered Office :	^{24 Raffles Place}, ^#18-00, ^{Clifford Centre}

Country :	Singapore

Date of Incorporation :	^17.06.2005

Com. Reg. No.:	^200508307G

Legal Form :	^{Exempt Pte Ltd}

Line of Business :	^{Telecommunications}

RATING & COMMENTS

MIRA’s Rating :

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 :	Small Company

Payment Behaviour :	Regular

Litigation :	Clear

Subject Company

^{ACROSS CONTINENTS COMMUNICATIONS PTE. LTD.}

Line Of Business

^{TELECOMMUNICATIONS}

Parent Company

Financial Elements

^{Sales :
N.A.}

^{Networth :
N.A.}

^{Paid-Up Capital :
S$ 10}

^{Net
result : N.A.}

^{Net Margin(%) : N.A.}

^{Return on Equity(%) : N.A.}

^{Leverage
Ratio : N.A.}

COMPANY IDENTIFICATION

^{Subject Company : ACROSS CONTINENTS
COMMUNICATIONS} ^{PTE. LTD.}

^{Former Name : -}

^{Business Address : 24 RAFFLES PLACE}

^#18-00

^{CLIFFORD CENTRE}

^{Town :
SINGAPORE}

^{Postcode : 048621}

^{Country :
Singapore}

^{Telephone : -}

^{Fax :
-}

^{ROC Number :
200508307G}

^{Reg. Town : -}

SUMMARY

^{All amounts in this report are in : SGD unless otherwise stated}

^{Legal Form :}^{Exempt Pte Ltd}

^{Date Inc. :}^17/06/2005

^{Previous Legal Form :}^-

^{Summary year :
-}

^{Sales :
-}

^{Networth :
-}

^{Capital :
-}

^{Paid-Up Capital :}¹⁰

^{Employees :
-}

^{Net result :
-}

^{Share value :
1}

^{Auditor :}^{ROHAN MAH & PARTNERS}

^{BASED ON ACRA'S
RECORD}

^{NO OF SHARES CURRENCY AMOUNT}

^{ISSUED
ORDINARY 10 SGD 10.00}

^{PAID-UP
ORDINARY - SGD 10.00}

REFERENCES

^{Litigation : No}

^{Company status : TRADING}

^{Started :
17/06/2005}

PRINCIPAL(S)

^{RANDHIR RAM
CHANDRA
S1272119F Director}

DIRECTOR(S)

^{JOSEPH EDI HUT
LUMBAN GAOL A167250 Director}

^{Appointed on :
24/06/2005}

^{Street : JLN GARUDA 3 DA 2 REMPOA}

^CIPUTAT

^{Town: TANGERANG}

^{Postcode: 15412}

^{Country: Indonesia}

^{HAFNI TRI
SETIADI M653308 Director}

^{Appointed on
:24/06/2005}

^{Street : JLN MALES 8 JA 4 NO. 9}

^{SEKTOR 9, BINTARO JAYA}

^{Town: TENGERANG}

^Postcode:

^{Country: Indonesia}

^{RANDHIR RAM
CHANDRA S1272119F Director}

^{Appointed on :
17/06/2005}

^{Street : 7 HIGHLAND ROAD}

^{HIGHLAND TERRACE}

^{Town: SINGAPORE}

^{Postcode: 549106}

^{Country: Singapore}

^{VENKITESWARAN
HARIHARAN S1585156B Company Secretary}

^{Appointed on
:27/06/2005}

^{Street : 28 LORONG L TELOK KURAU}

^{PINE COURT}

^{Town: SINGAPORE}

^{Postcode: 425440}

^{Country: Singapore}

ACTIVITY(IES)

^{COMMUNICATION
EQUIPMENT
Code: 5020}

^{BASED ON ACRA'S
RECORD}

^{1)
TELECOMMUNICATIONS}

^{2) WHOLESALE OF
TELECOMMUNICATIONS EQUIPMENT}

CHARGES

No Charges On Premises/Property In Our Database

PREMISES/PROPERTY INFORMATIONS

No Premises/Property Information In Our Databases

SHAREHOLDERS(S)

^{RANDHIR RAM
CHANDRA 10
Private Person}

^{Street : 7 HIGHLAND ROAD}

^{HIGHLAND TERRACE}

^{Town: SINGAPORE}

^{Postcode: 549106}

^{Country: Singapore}

SUBSIDIARY(IES)

No Participation In Our Database

PAYMENT HISTORY AND EXPERIENCES

^{Trade Morality :
AVERAGE}

^{Liquidity : UNKNOWN}

^{Payments : REGULAR}

^{Trend :
LEVEL}

^{Financial
Situation : UNKNOWN}

FINANCIAL COMMENTS

^{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.}

BACKGROUND/OPERATION

^{THE COMPANY WAS
INCORPORATED IN THE REPUBLIC OF SINGAPORE ON} ^{17/06/2005 AS
A LIMITED EXEMPT PRIVATE COMPANY AND IS TRADING UNDER} ^{ITS PRESENT
NAMESTYLE AS "ACROSS CONTINENTS COMMUNICATIONS PTE. LTD.".}

^{THE COMPANY HAS AN
ISSUED AND PAID-UP CAPITAL OF} ^{10 SHARES, OF A VALUE OF S$10.}

^{PRINCIPAL
ACTIVITIES:}

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

^{1)
TELECOMMUNICATIONS}

^{2) WHOLESALE OF
TELECOMMUNICATIONS EQUIPMENT}

^{FROM THE RESEARCH
DONE, THE FOLLOWING INFORMATION WAS GATHERED:}

^{RESEARCH ON PT
ANTAR MITRA PRAKARSA:}

^{THE COMPANY WAS
SITUATED IN INDONESIA:}

^{TULODONG BAWAH 2
ST. NO. 24}

^{SENAYAN VILLAGE, KEBAYORAN BARU}

^{SOUTH JAKARTA CITY
12190}

^{TEL:
+62-21-5266988}

ACTIVITIES

^{* CORE BUSINESS IN
CELLULAR TELECOMMUNICATION. WE PROVIDE WIRELESS} ^{DATA VALUE
ADDED SERVICE (VAS) TO MOBILE TELEPHONE SUBSCRIBERS IN} ^INDONESIA.

^{VAS IS THE
PROVISION OF INTERACTIVE DATA SERVICES FOR MOBILE} ^{TELEPHONY,
INCL: MOBILE BANKING, STOCK TRADING, INFO ON DEMAND,} ^{ENTERTAINMENT,
RESERVATION SERVICES, ORDERING & PAYMENT GOODS, ETC.}

^{THEIR COMPANY
OBJECTIVE:}

^{* INDONESIA'S
LARGEST, MOST INNOVATIVE & RELIABLE MOBILE VALUE ADDED} ^{SERVICE
PROVIDER}

^{* GROW AND EDUCATE
THE MARKET FOR MOBILE VALUE ADDED SERVICES}

^{EMAIL ADDRESS:}

^{hrd@mobile-elab.com}

^{noppan@mobile-elab.com}

^{rosa@mobile-elab.com}

^{WE DID OUR BEST
BUT WE DID NOT MANAGED TO FIND RELATED INFORMATION} ^{BETWEEN THE
DIRECTORS (JOSEPH EDI HUT LUMBAN GAOL AND HAFNI TRI} ^{SETIADI) AND THE
COMPANY "PT ANTAR MITRA PRAKARSA".}

^{THE 2 DIRECTORS IN
QUESTION WERE OF INDONESIAN IDENTITY AND THEY ARE} ^{SITUATED IN
THE OFFICE IN INDONESIA.}

^{NO INFORMATION CAN
BE GATHERED FROM THE RESEARCH DONE ON THE SUBJECT} ^{"ACROSS
CONTINENTS COMMUNICATIONS PTE. LTD.".}

^{THE COMPANY IS NOT
LISTED IN THE SINGAPORE LOCAL DIRECTORY. AS SUCH,} ^{NO OTHER TRADE
INFORMATION WAS AVAILABLE.}

^{REGISTERED AND
BUSINESS ADDRESS:}

^{24 RAFFLES PLACE}

^#18-00

^{CLIFFORD CENTRE}

^{SINGAPORE 048621}

^{DATE OF CHANGE OF
ADDRESS: 17/06/2005}

^{- PROPERTY RECORD
WAS NOT AVAILABLE}

^WEBSITE:

^EMAIL:

MANAGEMENT

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

^{1) JOSEPH EDI HUT
LUMBAN GAOL, AN INDONESIAN}

^{- BASED IN
INDONESIA}

^{2) HAFNI TRI
SETIADI, AN INDONESIAN}

^{- BASED IN
INDONESIA}

^{3) RANDHIR RAM
CHANDRA, A SINGAPOREAN}

^{- HOLDS OTHER
DIRECTORSHIPS AS RECORDED IN OUR DATABASE:}

^{PHOTRONICS
SINGAPORE PL}

^{HYUNDAI MERCHANT
MARINE [SINGAPORE] PTE LTD}

^{NORECOM
INTERNATIONAL PTE LTD}

^{GEOACOUSTICS ASIA
PACIFIC PTE LTD}

^{LPI PTE LTD}

^{UG WATCHES PTE LTD}

^{ISHIMA PTE. LTD.}

ADVERSE ON DIRECTORS

^{DIRECTOR'S NAME :
RANDHIR RAM CHANDRA}

^{ADVERSE REPORT AGAINST
DIRECTOR : NOT
AVAILABLE FROM OUR DATABASE}

^{PROPERTY OWNERSHIP :
1}

^{ANNUAL VALUE :
S$ 15,600}

^{CO-OWNER (S) :
MDM VENETIA ANNE SANTA MARIA}

^{* 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 OPENTO 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.

INFOCOMMUNICATIONS SECTOR

PAST PERFORMANCE

THE INFORMATION AND COMMUNICATIONS SECTOR ROSE BY 6.1% IN 4Q 2007, SLOWER THAN THE 6.6% IN 3Q 2007. THE GROWTH WAS MAINLY ATTRIBUTED TO THE TELECOMMUNICATIONS SEGMENT. BOTH THE TELECOMMUNICATIONS AND IT SERVICES SEGMENTS REMAINED HEALTHY DURING THE QUARTER.

IN THE TELECOMMUNICATIONS SEGMENT, THE GROWTH OF INTERNATIONAL TELEPHONE CALLS DURATION AND NUMBER OF SUBSCRIBERS FOR BOTH MOBILE PHONE SERVICE AND BROADBAND INTERNET REMAINED STRONG. THE SECTOR ROSE BY 6.3% IN 2007, UP FROM 4.6% GROWTH IN 2006.

NEWS

SINGAPORE TO ENJOY FULL MOBILE NUMBER PORTABILITY FROM 13 JUNE

ON 13 JUNE, SINGAPORE’S MOBILE SUBSCRIBERS WILL ENJOY FULL MOBILE NUMBER PORTABILITY AND WITH THIS, GREATER BENEFITS IN TERMS OF FLEXIBILTY AND CHOICE OF SUBSCRIPTION PLANS AS COMPETITION AMONG MOBILE OPERATORS IS EXPECTED TO INTENSIFY. CURRENTLY, SINGAPORE’S MOBILE SUBSCRIPTION STANDS AT MORE THAN 5.8 MILLION.

THE FULL MOBILE NUMBER PORTABILITY SOLUTION WILL REPLACE THE CURRENT SOLUTION WHERE A MOBILE SUBSCRIBER HOLDS TWO NUMBERS, SO THAT CALLS TO HIS OLD NUMBER ARE CALL-FORWARDED TO A NEW ONE. SINGAPORE MOBILE SUBSCRIBERS WERE ONE OF THE FIRST IN THE WORLD TO ENJOY MOBILE NUMBER PORTABILITY THROUGH THIS CALL-FORWARDING SOLUTION WHEN IT WAS LAUNCHED HERE IN 1997.

WHEN IMPLEMENTED FROM 13 JUNE, FULL MOBILE NUMBER PORTABILITY WILL ALLOW ANYONE WHO WISHES TO KEEP THEIR CURRENT NUMBER WHEN THEY SWITCH MOBILE OPERATOR, TO DO SO BY THE NEXT WORKING DAY. THIS SPARES THEM THE HASSLE OF UPDATING THEIR FAMILY, FRIENDS, AND BUSINESS CONTACTS ABOUT A NEW NUMBER.

FULL MOBILE NUMBER PORTABILITY IS ALSO EXPECTED TO OPEN THE DOORS TO NEW BUSINESS OPPORTUNITIES FOR NON-TRADITIONAL TELECOMMUNICATION SERVICE PROVIDERS LIKE WIRELESS BROADBAND PROVIDERS AND VOICE-OVER-INTERNET PROTOCOL (VOIP) PROVIDERS. ITS CENTRALISED DATABASE INFRASTRUCTURE WILL BE WELL-PLACED TO FACILITATE THE ENTRY OF NEW PLAYERS AND EVOLUTION.

OUTLOOK

IN THE INFORMATION AND COMMUNICATIONS INDUSTRY, A NET WEIGHTED BALANCE OF 9.0% OF FIRMS IS POSITIVE ABOUT BUSINESS CONDITIONS IN THE COMING MONTHS.

EXTRACTED FROM: MINISTRY OF TRADE AND INDUSTRY, SINGAPORE

INFOCOMM DEVELOPMENT AUTHORITY OF SINGAPORE

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