MIRA INFORM REPORT

Report Date :

08.04.2011

IDENTIFICATION DETAILS

Name :	MASTER TELECOMMUNICATION CO. LTD.
Registered Office :	Flat 5, 1/F., Star Mansion, 3 Minden Row, Tsimshatsui, Kowloon
Country :	Hong Kong
Date of Incorporation :	10.03.2009
Com. Reg. No.:	50456350
Legal Form :	Private Limited Company
Line of Business :	Importer, Exporter and Wholesaler of all kinds of mobile phones, accessories, 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 :	Satisfactory
Payment Behaviour :	Usually Correct
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

MASTER TELECOMMUNICATION CO. LTD.

Company ADDRESS

Flat 5, 1/F., Star Mansion, 3 Minden Row, Tsimshatsui, Kowloon, Hong Kong.

PHONE: Not available

FAX: Not available

E-MAIL: mastercare@mail.com

MANAGEMENT

Managing Director: Mr. Deepak Kumar Gyanchandani

SUMMARY

Incorporated on: 10th March, 2009.

Organization: Private Limited Company.

Capital: Nominal: HK$10,000.00

Issued: HK$1.00

Business Category: Importer, Exporter and Wholesaler.

Employees: Nil.

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

Banking Relation: Satisfactory.

Company ADDRESS

Registered Head Office:-

Flat 5, 1/F., Star Mansion, 3 Minden Row, Tsimshatsui, Kowloon, Hong Kong.

BUSINESS REGISTRATION NUMBER

50456350

COMPANY FILE NUMBER

1314697

MANAGEMENT

Managing Director: Mr. Deepak Kumar Gyanchandani

CAPITAL

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

Issued Share Capital: HK$1.00

SHAREHOLDER

(As per registry dated 10-03-2009)

Name	No. of share
Deepak Kumar GYANCHANDANI	1 =

DIRECTOR

(As per registry dated 10-03-2009)

Name (Nationality)	Address
Deepak Kumar GYANCHANDANI	15 MIG Shaheed Nagar, PO PS Sadar Distt. Agra, UP, India.

SECRETARY

(As per registry dated 10-03-2009)

Name	Address	Co. No.
Akin Professionals Ltd.	20/F., Champion Building, 287-291 Des Voeux Road Central, Sheung Wan, Hong Kong.	1273165

HISTORY

The subject was incorporated on 10th March, 2009 as a private limited liability company under the Hong Kong Companies Ordinance.

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

OPERATIONS

Activities: Importer, Exporter and Wholesaler.

Lines: All kinds of mobile phones, accessories, etc.

Employees: Nil.

Commodities Imported: Europe, Asian countries, etc.

Markets: India, other Asian countries, etc.

Terms/Sales: L/C, T/T, etc.

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

FINANCIAL INFORMATION

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

Issued Share Capital: HK$1.00

Profit or Loss: Suffering from a small loss in 2010.

Condition: Business is under development.

Facilities: Trying to make use of general banking facilities.

Payment: Met trade commitments as required.

Commercial Morality: Fairly satisfactory.

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

Standing: Small.

GENERAL

Master Telecommunication Co. Ltd. is wholly owned by Mr. Deepak Kumar Gyanchandani who is an Indian. He is an India passport holder and does not have the right to reside in Hong Kong permanently. He is also the only director of the subject.

The subject’s registered address is located at Flat 5, 1/F., Star Mansion, 3 Minden Row, Tsimshatsui, Kowloon, Hong Kong. This office is not in a commercial building but a residential building. It is likely that Gyanchandani resides in this office when he is in Hong Kong. The residential building is not trespassed by outsiders.

The subject’s telephone number and fax number have not registered with local telephone company nor listed on telephone directories.

The subject has no employees in Hong Kong. It is trading in all kinds of telecommunication equipment.

Incorporated in March 2009, the subject is trading in GSM/PCS mobile phones and accessories. Significant brands such as “Motorola”, “Nokia”, “Ericsson”, “Samsung”, “Philips” and “Siemens” are being handled. Commodities are imported from Europe, other Asian countries. Prime markets are India, other Asian countries, the Middle East, etc. Business is still under development.

The subject’s business is handled by Gyanchandani himself. Posted a small loss in 2010. The history of the subject in Hong Kong is just over two years.

Since the subject does not have its own operating office and has no employees in Hong Kong, on the whole, consider it good for business engagements on secured basis.

COURT CASES: None per our.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.22
UK Pound	1	Rs.71.97
Euro	1	Rs.63.23

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.