MIRA INFORM REPORT

Report Date :

04.11.2008

IDENTIFICATION DETAILS

Name :	GLOBAL ADVANCE OILS & FATS (MACAO) COMMERCIAL OFFSHORE LTD
Registered Office :	Avenida Dr Mario Soares n' 307-323 Edificio Banco China 18' Andar
Country :	Macau
Year of Establishment :	2003
Legal Form :	Private Limited Company
Line of Business :	Trader of Chemicals and Allied Products

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

Maximum Credit Limit :	USD 30,000
Status :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	Clear

name of the company

GLOBAL ADVANCE OILS & FATS (MACAO) COMMERCIAL OFFSHORE LTD

Company Details

Country : Hong Kong

Address : Avenida Dr Mario Soares n' 307-323 Edificio Banco China 18' andar Macau

Tel : 715365

Fax : 781003

Type : Trader

Industry : Chemicals

Key Facts

 Established Year : 2003

 License number/s : 16825 SO

 Formation : Private

 Employees : 4

 Capita l :MOP 800,000

Adverse Data

 Results : Total of 0  record found.

Recommended Credit Limit - Trade Finance

 Amount : USD 30,000

 Period : 30  days

Management & Products

 Management : Mr Mr Tong Heng Goh, Director

  Products : Chemicals

Fullcheck Report Details

Country : Hong Kong

Company Name : GLOBAL ADVANCE OILS & FATS (MACAO) COMMERCIAL OFFSHORE LTD

Company Address : Avenida Dr Mario Soares n' 307-323 Edificio Banco China 18' andar Macau

Company Tel : 715365

Company Fax : 781003

Company Type : Trader

Industry : Chemicals

Established Year : 2003

SIC PRODUCT CLASSIFICATION & ACTIVITY

Activity Code Product/Service Description

Trading 2800 Chemicals and Allied Products

NAICS PRODUCT CLASSIFICATION & ACTIVITY

Activity Code Product/Service Description

Trading 3800 Miscellaneous chemical products

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

Activity Product/Service Description

Trading Chemicals

OWNERSHIP

Chairman : Mr Tong Heng Goh

Nationality : Singapore

Capital : MOP 800,000

Employees : 4

Company Formation : Private

FINANCIAL & LEGAL STATUS

*Credit Assessment*

==============

The company is considered average sized company with an acceptable base and market connection to secure credit of a moderate amount.

*Operations Status*

==============

Investigations have included :

1) A site visit was conducted at the company's heading address which revealed that the above company's name was seen on display.

2) The company is engaged in trading of oil and fats products.

3) The company's products are imported from Indonesia and South East Asia.

4) The company's products are mainly sold to the PRC market. Small portion are exported to North America.

5) The company currently employs 4 staff in Macau.

*Capital Details*

=============

Authorized capital : MOP$ 800,000

Paid-up capital : MOP$ 800,000

*Change in Capital*

==============

Authorised capital was increased from MOP$100,000 to the present amount on 29 March, 2004 with the creation of MOP$ 800,000

Paid-up capital: MOP$ 800,000

*Share transfers*

============

Date No. of shares Transferor(s) Transferee(s)

------- ------------------- ------------------ ------------------

6 January, 2004 25,000 Asia Pacific Forest Products Sdn Bhd Asian Agri Ltd

6 January, 2004 75,000 Pallicient International Inc Asian Agri Ltd

28 July, 2006 800,000 Asian Agri Ltd Brown Court Ltd

*Financials*

=========

As a private limited company, no official financial statement is required to be publicly disclosed.

Upon our current contact, the company's staff refused to forward any financial information regarding the company on the grounds that the company is a private venture whose financial information is considered sensitive private business information not subjected to public release or release to non-business related parties.

*Reputation*

==========

Reference checking for the purpose of establishing the firm's reputation within the respective industry failed to reveal any negative information.

*Payment Terms*

=============

Sales

--------

Export : Letter of Credit (L/C)

Telegraphic Transfer (T/T)

Purchases

--------------

Import : Letter of Credit (L/C)

Telegraphic Transfer (T/T)

*Company Registration *

==================

Company Name in English: Global Advance Oils & Fats (Macao) Commercial Offshore Ltd

Company Name in Portugues: Global Advance Oleos E Gorduras Comercial Offshore De Macau Limitada

Company Name in Chinese:

License number : 16825 SO

Date issued : 28 April, 2003

Issuing authority : Conservatoria Dos Registos Comercial E De Bens Moveis

*Change of Company Name*

=====================

No record

ADVERSE DATA MONITORING

DISHONORED CHECKS No Record Found

DEBT No Record Found

LITIGATION No Record Found

PERFORMANCE DEFAULTS No Record Found

ADVERSE PRESS COVERAGE No Record Found

FORMER COMPANY RELATIONSHIPS No Record Found

BANKS REFERENCES

Bank: HONGKONG & SHANGHAI BANKING CORP LTD

Bank: Fortis Bank

PRODUCT, TECHNOLOGY, SERVICES DESCRIPTION

 *Main Products & Services*

=====================

Specializes in trading of oil and fats products.

*Detailed Product specifications*

========================

Items available include:

Palm oil

Rubber

Cocoa

ORGANIZATION STRUCTURE

*Key Personnel*

============

(1)

Tong Heng Goh

Marital: Married

Position : Director

Resident status : Singapore nationality

Responsibilities : Currently active in the company's day-to-day operations & is responsible for its management.

Registered address: 37 Pasir Ris Drive 3, #06-01, Eastvale, Singapore.

Litigation check : This refers to a check of our database whether the said person has been involved in

any of the following stored by us within the last 6 years :

- Civil litigation as defendant : None in our database

- Bankruptcy/winding-up petitions : None in our database

- Delinquent payment records : None in our database

*Change of Registered Address"

=======================

Previously located at :

Changed address to : Avenida Dr Mario Soares n' 307-323 Edificio Banco China 18' andar Macau

Date of change : 19 May, 2006

RELATED PARTIES DESCRIPTION

 *Major Shareholders*

================

Shareholder Name No of Shares

-----------------------------------------------------------------------------------------------

Brown Court Ltd 800,000

*Shareholders' Details*

================

Brown Court Ltd

Address: Portcullis TrustNet Chambers, P.O.Box 3444, Rd Town, Tortola, British Virgin Islands.

*Directors' Details*

==============

(1)

Shui-yuen Tsang

*Directors' Details*

==============

(1)

Tong Heng Goh

(2)

TRS Nominees Ltd

Position : Corporate Director

Place of incorporation : Hong Kong.

Address : Room 521A Ocean Center, 5 Canton Road, Tsimshatsui, Kowloon Hong Kong.

Gavin Sung-ching Law and John Kwai-pui Cheung is the representative of TRS Nominees Ltd

Gavin Sung-ching Law

Marital: Married

Resident status : Chinese nationality

Registered address: Room 2015, 20/F., Asian House, 1 Hennessy Road, Hong Kong.

John Kwai-pui Cheung

Marital: Married

Resident status : Chinese nationality

Registered address: Room 911, 9/F., Workingband Comm. Centre, 162 Prince Edward Road West, Kowloon, Hong Kong.

LOCAL DISTRIBUTION & WAREHOUSING

*Imports*

========

100% of the company's products are imported from Indonesia and South East Asia.

INTERNATIONAL TRADE ACTIVITY DESCRIPTION

*Export Markets*

=============

Part of the annual turnover is attributed to export to the following countries:

- North America and the PRC

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.47.18
UK Pound	1	Rs.75.05
Euro	1	Rs.60.89

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