MIRA INFORM REPORT

Report Date :

07.04.2011

IDENTIFICATION DETAILS

Name :	HERMANOS KAYBEE (HK) LTD.
Registered Office :	Room 905, 9/F., Silvercord Tower 2, 30 Canton Road, Tsimshatsui, Kowloon
Country :	Hong Kong
Date of Incorporation :	21.07.1978
Com. Reg. No.:	05708120
Legal Form :	Private Limited Company
Line of Business :	Importer, Exporter and Wholesaler of Plastic products, textiles, electronics, electric appliances, etc.

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 :	Good
Payment Behaviour :	Regular
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 – December 31, 2010

Country Name	Previous Rating (30.09.2010)	Current Rating (31.12.2010)
Hong Kong	a2	a2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company name

HERMANOS KAYBEE (HK) LTD.

Company ADDRESS

Room 1010, 10/F., Silvercord Tower 2, 30 Canton Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE: 3511 2888

FAX: 3511 2806

E-MAIL: hermanos@kaybee.com.hk

MANAGEMENT

Managing Director: Mr. Suresh Jethanand Melwani

SUMMARY

Incorporated on: 21st July, 1978.

Organization: Private Limited Company.

Capital: Nominal: HK$37,000,000.00

Issued: HK$36,992,000.00

Business Category: Importer, Exporter and Wholesaler.

Employees: 25. (Including affiliate)

Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Banking Relation: Good.

Company ADDRESS

Registered Office:-

Room 905, 9/F., Silvercord Tower 2, 30 Canton Road, Tsimshatsui, Kowloon, Hong Kong.

Head Office:-

Room 1010, 10/F., Silvercord Tower 2, 30 Canton Road, Tsimshatsui, Kowloon, Hong Kong.

G.P.O. Box 942, Hong Kong.

China Office:-

Room 1210, 12/F., Science Building, 638 Huangpu Da Dao West Road, 510627 Guangzhou, Guangdong Province, China.

[Tel: 86-20-3788 3323; Fax: 86-20-3788 3384]

Holding Company:-

Grupo Kaybee Pte. Ltd., Singapore.

Affiliated Company:-

TRNS International Ltd., Hong Kong. (Same address)

BUSINESS REGISTRATION NUMBER

05708120

COMPANY FILE NUMBER

0062318

MANAGEMENT

Managing Director: Mr. Suresh Jethanand Melwani

Assistant Manager: Ms. Cindy So

CAPITAL

Nominal Share Capital: HK$37,000,000.00 (Divided into 37,000 shares of HK$1,000.00 each)

Issued Share Capital: HK$36,992,000.00

SHAREHOLDER

(As per registry dated 21-07-2010)

Name	No. of shares
Grupo Kaybee Pte. Ltd. The Plaza, #13308, 7500A, Beach Road, Singapore 199591.	36,992 =====

DIRECTORS

(As per registry dated 21-07-2010)

Name (Nationality)	Address
Suresh Jethanand MELWANI	Flat B, 2/F., Village Gardens, 49 Fa Po Street, Yau Yat Chuen, Kowloon, Hong Kong.
Deepak Atmaram GURNANI	73, Meyer Road, #19-02 Hawaii Tower, Singapore 437898.

SECRETARY

(As per registry dated 21-07-2010)

Name	Address	Co. No.
First Island Secretaries Ltd.	Room 905, 9/F., Silvercord Tower 2, 30 Canton Road, Tsimshatsui, Kowloon, Hong Kong.	0049295

HISTORY

The subject was incorporated on 21st July, 1978 as a private limited liability company under the Hong Kong Companies Ordinance.

Formerly the subject’s head office was located at 12/F., Caltex House, 258 Hennessy Road, Wanchai, Hong Kong, moved to the present address in late 2010.

Apart from these, neither material change nor amendment has been ever traced and noted.

OPERATIONS

Activities: Importer, Exporter and Wholesaler.

Lines: Plastic products, textiles, electronics, electric appliances, etc.

Employees: 25. (Including affiliate)

Commodities Imported: Europe, China, other Asian countries, etc.

Markets: India, other Asian countries, Europe, South America, etc.

Terms/Sales: L/C or as per contracted.

Terms/Buying: L/C, T/T, D/P, etc.

MEMBERSHIP

The Hong Kong General Chamber of Commerce, Hong Kong.

[Membership No. HKH0258]

FINANCIAL INFORMATION

Nominal Share Capital: HK$37,000,000.00 (Divided into 37,000 shares of HK$1,000.00 each)

Issued Share Capital: HK$36,992,000.00

Indebtedness: HK$47,275,411.00 (Total amount outstanding on all mortgages and charges as per last

Annual Return dated 21-07-2010)

Mortgage or Charge: None on Company File since August 2009.

Profit or Loss: Making a small profit every year.

Condition: Keeping in a satisfactory manner.

Facilities: Making active use of general banking facilities.

Payment: Met trade commitments as required.

Commercial Morality: Satisfactory.

Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Standing: Good.

GENERAL

Hermanos Kaybee (HK) Ltd. is a wholly-owned subsidiary of Grupo Kaybee Pte. Ltd. which is a Singapore-based company.

The subject is trading in the following commodities:-

· Piecegoods (Blended, Woollen, Silk)

· Suites and Jackets (Men’s and Women’s)

· Footwear

· Floorings and Sanitary Ware

· Automotives Spare Parts

· Blouse, Dress, Skirts, Trousers and Children’s Wear

· Audio and Video Products

· Household Electric Appliances and Lighting Products

· Electronic Products and Telecommunication Equipment

· Plastic and Wooden Products

· Office Equipment and Stationery

· Accessories, etc.

Commodities are chiefly sourced from China, India, other Asian countries and exported to Europe, North America, Africa, Central and South America, etc.

The subject has set up an office in Guangzhou City, Guangdong Province, China responsible for sourcing commodities in China. Some of the commodities bear the trade marks of “Pantera”, “Silver Crown”, “Tactics”, “Zen Z-Phone”, etc.

Kaybee Group is Singapore-based. The Group is a business house for the prestigious buyers worldwide since 1957 while exporting its products to more than 50 countries. Kaybee Group handles textiles, garments, general merchandise, computer software and also engaged in real estate business.

Garments have always been one of Kaybee Group’s major areas of operations over the years. The Group operates the subject in Hong Kong which is specialized in garments trading. The Group also sources a wide range of garments from China and other Asian countries. Kaybee Group exports garments and other products to North America, Central and South America, South Africa, West Africa, etc. Business is rather active.

The subject has got an affiliated company TRNS International Ltd. located at its operating address.

The history of the subject in Hong Kong is over thirty-two years.

On the whole, consider the subject good for normal business engagements.

COURT CASES: None per our records.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.22
UK Pound	1	Rs.72.25
Euro	1	Rs.63.09

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

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.