MIRA INFORM REPORT

Report Date :

08.04.2011

IDENTIFICATION DETAILS

Name :	WORLD MOBILE (HK) LTD.
Registered Office :	Flat A, 1/F., Valiant Commercial Building, 22-24 Part Avenue, Tsimshatsui, Kowloon
Country :	Hong Kong
Date of Incorporation :	12.09.2005
Com. Reg. No.:	36009614
Legal Form :	Private Limited Company.
Line of Business :	Importer, Exporter and Wholesaler of all kinds of mobile phones, 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 :	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

WORLD MOBILE (HK) LTD.

Company ADDRESS

Flat A, 1/F., Valiant Commercial Building, 22-24 Part Avenue, Tsimshatsui, Kowloon, Hong Kong.

PHONE: 2366 5502, 2366 5521

FAX: 2366 5542

E-MAIL: worldmob@netvigator.com

MANAGEMENT

Managing Director: Mr. Jatinder Singh Sekhon

SUMMARY

Incorporated on: 12 September, 2005.

Organization: Private Limited Company.

Capital: Nominal: HK$1,000,000.00

Issued: HK$1,000,000.00

Business Category: Importer, Exporter and Wholesaler.

Employees: 6.

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

Banking Relation: Satisfactory.

Company ADDRESS

Registered Head Office:-

Flat A, 1/F., Valiant Commercial Building, 22-24 Part Avenue, Tsimshatsui, Kowloon, Hong Kong.

Associated Companies:-

World Mobile Co., Hong Kong. (Same address)

World Mobile UK Ltd., UK.

BUSINESS REGISTRATION NUMBER

36009614

COMPANY FILE NUMBER

0995325

MANAGEMENT

Managing Director: Mr. Jatinder Singh Sekhon

CAPITAL

Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)

Issued Share Capital: HK$1,000,000.00

SHAREHOLDERS

(As per registry dated 12-09-2010)

Name		No. of shares
Surinder KHANNA		750,000
Jatinder Singh SEKHON		250,000
		––––––––
	Total:	1,000,000 =======

DIRECTORS

(As per registry dated 12-09-2010)

Name (Nationality)	Address
Surinder KHANNA	D-41, Gujranwala Apts., J-Block, Vikas Puri, New Delhi-110018, India.
Jatinder Singh SEKHON	Flat 201, Sui Fat House, Siu Sai Wan Estate, Chai Wan, Hong Kong.

SECRETARY

(As per registry dated 12-09-2010)

Name	Address	Co. No.
Buttar.HK Ltd.	1/F., Mau Lam Commercial Building, 16-18 Mau Lam Street, Jordan, Kowloon, Hong Kong.	0975326

HISTORY

The subject was incorporated on 12 September, 2005 as a private limited liability company under the Hong Kong Companies Ordinance.

Formerly the subject was located at Flat A, 5/F., Comfort Building, 86‑88A Nathan Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in October 2008.

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, etc.

Employees: 6.

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

Markets: India, other Asian countries, Middle East, etc.

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

Terms/Buying: L/C, D/P, O/A, etc.

FINANCIAL INFORMATION

Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)

Issued Share Capital: HK$1,000,000.00

Mortgage or Charge: (See attachment)

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.

Bankers:-

· The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

· DBS Bank (Hong Kong) Ltd., Hong Kong.

Standing: Normal.

GENERAL

Having issued one million ordinary shares of HK$1.00 each, World Mobile (HK) Ltd. is jointly owned by Mr. Surinder Khanna, holding 75% interests; and Jatinder Singh Sekhon, holding 25%. Being Indian, they are also directors of the subject. Sekhon is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.

The subject is predominantly trading in mobile phones and accessories. It is carrying GSM/PCS mobile phones and accessories such as “Motorola”, “Nokia”, “Sony Ericsson”, “Samsung”, “LG”, “Sharp”, “Panasonic” / “NEC”, etc. The subject deals in virtually all brands of brands new sim free, brand new network locked mobile phones and accessories (RS-MMC, MMC, SD, DV RS-MMC). Presently, the subject has established its brand name (OEM) “ROCKER” and also purchasing mobiles from China in large quantities (about 500,000 units per month) from various suppliers.

According to the subject, the two directors have over 10 years experience in this lines of business.

The subject’s main trading activities are based in the Asia Pacific, the Middle East and the European Union. It has had offices in India and the United Kingdom. Hong Kong business is chiefly handled by Sekhon. The subject has had an associated company World Mobile Co. located at its operating office.

As the history of the subject is over five years and six months in Hong Kong, on the whole, consider it good for normal business engagements.

REMARKS:

Court Cases: None per our.

Property information of the company:-

1. Property Location: Office A on 1/F. with Portion of Flat Roof,
Valiant Commercial Building, 22-24 Prat Avenue, Kowloon, Hong Kong.

Owner: World Mobile (HK) Ltd.

Date of Purchase: n.a.

Purchased Price: n.a.

Incumbrances:-

Date of Mortgage	Amount Consideration	Mortgagee	Nature
25-02-2008	-	The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.	Mortgage to secure general banking facilities

2. Property Location: Unit 12, 13 & 14 on 5/F., Heng Ngai Jewelry Centre,
4 Hok Yuen Street East, Kowloon, Hong Kong.

Owner: World Mobile (HK) Ltd.

Date of Purchase: n.a.

Purchased Price: n.a.

Incumbrances:-

Date of Mortgage	Amount Consideration	Mortgagee	Nature
20-09-2010	-	The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.	Legal charge to secure general banking facilities

MORTGAGE OR CHARGE

Date	Particulars	Amount
25-02-2008	Instrument: Mortgage Property: 16/452nd parts or shares of and in Kowloon Inland Lot No. 6373 and Kowloon Inland Lot No. 8904 (Office A on 1/F. together with Portion of Flat Roof appurtenant thereto of Valiant Commercial Building, 22-24 Prat Avenue, Kowloon, Hong Kong.) Mortgagee: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.	To secure general banking facilities
07-05-2010	Instrument: Assignment of Receivables – General with Notice of Assignment Property: In consideration of the Banking Facilities, the Customer, as beneficial owner and by way of security for the payment of the Secured Monies, hereby assigns, and agrees to assign, to the Bank the Receivables until all the Secured Monies have been paid or discharged Mortgagee: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.	To secure all monies in respect of banking facilities
20-09-2010	Instrument: Legal Charge Property: 73/4,978th parts or shares of and in Section D of Kowloon Marine Lot No. 113 [Unit 12, 13 & 14 on 5/F. of Heng Ngai Jewelry Centre (formerly known as Regent Centre), 4 Hok Yuen Street East, Kowloon, Hong Kong.] Mortgagee: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.	To secure all moneys in respect of general banking facilities

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.