MIRA INFORM REPORT

Report Date :

19.04.2011

IDENTIFICATION DETAILS

Name :	sanyi resources pte. ltd.
Registered Office :	10 Jalan Besar #11-12 Sim Lim Tower Singapore 208787
Country :	Singapore
Financials (as on) :	31.12.2009
Date of Incorporation :	04.05.2007
Com. Reg. No.:	200707731H
Legal Form :	Limited Private Company
Line of Business :	General Wholesale Trade (Including General Importers And Exporters)

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	S$52,000
Status :	Moderate
Payment Behaviour :	No Complaints
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)
Singapore	A1	A1

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

Executive Summary

Company Name	:	SANYI RESOURCES PTE. LTD.
Registration No	:	200707731H
Date of Registration	:	04/05/2007
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	LIMITED PRIVATE COMPANY
Registered Address	:	10 JALAN BESAR #11-12 SIM LIM TOWER SINGAPORE 208787
Date of Change of Address	:	04/05/2007
Contact No.	:	6396 3686
Fax No.	:	62988498
Website	:	NA
Registered Activities	:	GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS)
Issued Ordinary Capital*	:	$200,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 200,000
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$200,000.00 SINGAPORE, DOLLARS
Paid-Up Preference Capital	:	NA
* Number of Shares includes number of Issued Treasury Shares
Issued Treasury Capital	:	NA
Paid-Up Treasury Capital	:	NA
No. of Local Subsidiaries	:	NA
No. of Local Associates	:	NA
Auditor	:	CASEY LIN & COMPANY
Bankers / Financiers	:	CITIBANK N.A. THE BANK OF EAST ASIA LIMITED UNITED OVERSEAS BANK LIMITED
Turnover	:	SGD - SIN 77,782,480.00 (FY2009)
Net Worth	:	SGD - SIN 1,039,110.00 (FY2009)
No. of Bank Charges	:	4
No. of Litigation Suits	:	NA
S1000 / SME 500 / FG50 Ranking	:	39 POSITION IN SME 1000 Companies Ranked by Sales/Turnover (2009/2010) 8 POSITION IN SME 500 Companies Ranked by Sales/Turnover (2008/2009) 134 POSITION IN SME 500 Companies Ranked by Return on Equities (2008/2009)
Compounded Annual Growth Rate (CAGR)	:	NA

Credit Rating & Recommendation

Recommended Credit Line

:

S$52,000

SHAREHOLDER DETAILS

NAME	:	JANLEX HOLDINGS LTD
SHAREHOLDER ID	:	T07UF1610B
NATIONALITY	:	VIRGIN ISLANDS, BRITISH
ADDRESS	:	AKARA BUILDING 24 DE CASTRO STREET WICKHAMS CAY 1 ROAD TOWN, TORTOLA BRITISH VIRGIN ISLANDS
NO. OF ORD SHARES	:	102,000
% OF SHAREHOLDING	:	51%
CURRENCY	:	SINGAPORE, DOLLARS
NAME	:	LIM HOCK KENG
SHAREHOLDER ID	:	S1391143F
NATIONALITY	:	SINGAPORE CITIZEN
ADDRESS	:	224 UPPER PAYA LEBAR ROAD PAYA LEBAR GARDENS SINGAPORE 534887
NO. OF ORD SHARES	:	49,000
% OF SHAREHOLDING	:	24.5%
CURRENCY	:	SINGAPORE, DOLLARS
NAME	:	KADIMAN MANSOER
SHAREHOLDER ID	:	S2681142B
NATIONALITY	:	SINGAPORE P.R.
ADDRESS	:	73 JALAN TUA KONG #10-06 PARK EAST SINGAPORE 457266
NO. OF ORD SHARES	:	49,000
% OF SHAREHOLDING	:	24.5%
CURRENCY	:	SINGAPORE, DOLLARS

OFFICER DETAILS

NAME	:	CHOY KHIONG RICK
ADDRESS	:	36 DOVER RISE #01-03 DOVER PARKVIEW SINGAPORE 138685
POSITION	:	SECRETARY
DATE OF APPT	:	04/05/2007
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S0159507E
NAME	:	LIM HOCK KENG
ADDRESS	:	224 UPPER PAYA LEBAR ROAD PAYA LEBAR GARDENS SINGAPORE 534887
POSITION	:	DIRECTOR
DATE OF APPT	:	04/05/2007
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1391143F
NAME	:	KADIMAN MANSOER
ADDRESS	:	73 JALAN TUA KONG #10-06 PARK EAST SINGAPORE 457266
POSITION	:	DIRECTOR
DATE OF APPT	:	04/05/2007
NATIONALITY	:	SINGAPORE P.R.
I/C PASSPORT	:	S2681142B

KEY PERSONNEL PROFILE

Name:	LIM HOCK KENG
NRIC Number:	S1391143F
Available Address:	224 UPPER PAYA LEBAR ROAD PAYA LEBAR GARDENS SINGAPORE 534887

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	ASIABASE RESOURCES PTE. LTD.	DIRECTOR	15/09/2005	-	-
2	SANYI RESOURCES PTE. LTD.	DIRECTOR	04/05/2007	49000	24.50

Previous Business

No.		Name		Status		Position		Appt Date		Last Known Inactive Date
1		A P FOREST PRODUCTS PTE LTD		LIVE COMPANY		DIRECTOR		01/09/2000		17/07/2008
2		A P SHIPPING PTE LTD		IN LIQUIDATION - MEMBERS' VOLUNTARY WINDING UP		DIRECTOR		25/07/2000		11/01/2011
3		APRIL FINE PAPER HOLDINGS PTE LTD		LIVE COMPANY		DIRECTOR		25/07/2000		13/04/2011
4		APRIL FINE PAPER TRADING PTE LTD		LIVE COMPANY		DIRECTOR		29/07/2000		14/04/2011
5		APRIL MANAGEMENT PTE LTD		LIVE COMPANY		DIRECTOR		01/09/2000		13/01/2011
6		FIBERSOURCE INTERNATIONAL PTE. LTD.		LIVE COMPANY		DIRECTOR/SHR		17/06/2005		03/03/2011
7		FORINDO INTERNATIONAL PTE LTD		DISSOLVED - MEMBERS' VOLUNTARY WINDING UP		DIRECTOR/SHR		09/06/1997		26/10/2010
8		FORINDO PRIVATE LIMITED		LIVE COMPANY		DIRECTOR		19/03/1996		14/04/2011
9		INTERJAYA MARINE PTE LTD		IN LIQUIDATION - MEMBERS' VOLUNTARY WINDING UP		DIRECTOR		11/08/1997		03/03/2008
10	KIMLIAN MANAGEMENT SERVICES PTE LTD		STRUCK OFF		DIRECTOR/SHR		08/11/1993		12/04/2007
11	LIAN LEE HIN MARKETING PTE LTD		LIVE COMPANY		DIRECTOR/SHR		03/09/1992		10/03/2011
12	PEC TECH ENGINEERING AND CONSTRUCTION PTE LTD		LIVE COMPANY		DIRECTOR		03/12/1996		02/02/2011
13	SANDEVCO PTE. LTD.		STRUCK OFF		DIRECTOR		10/07/2007		-
14	UPM ASIA PACIFIC PTE. LTD.		LIVE COMPANY		ALTERNATE DIRECTOR		30/08/1999		31/08/2000
15	UPM ASIA PACIFIC PTE. LTD.		LIVE COMPANY		DIRECTOR		24/05/1999		22/09/2008

Bankruptcy Record

Case No.	Year	Date of Filing	Petitioner Name	Amount
No Trace

Litigation Search – Writ of Summons

Court	Case No.	Year	Date of Filing	Amount	Cause Category
No Trace

SUBSIDIARIES AND ASSOCIATE COMPANIES

Company	Shareholdings (%)
NA

BANKERS/ FINANCIERS

Subject enjoys a normal banking routine with its bankers. To date, there have been 4 bank charges registered against Subject by its bankers. The charge numbers are:

1)	Charge No.	:	C201011952
	Date of Registration	:	09/12/2010
	Chargee	:	CITIBANK N.A.
	Address	:	3 TEMASEK AVENUE #12-00 CENTENNIAL TOWER SINGAPORE 039190
2)	Charge No.	:	C201002180
	Date of Registration	:	12/03/2010
	Chargee	:	THE BANK OF EAST ASIA LIMITED
	Address	:	60 ROBINSON ROAD BEA BUILDING SINGAPORE 068892
3)	Charge No.	:	C200808671
	Date of Registration	:	17/09/2008
	Chargee	:	UNITED OVERSEAS BANK LIMITED
	Address	:	80 RAFFLES PLACE UOB PLAZA SINGAPORE 048624
4)	Charge No.	:	C200802047
	Date of Registration	:	28/02/2008
	Chargee	:	UNITED OVERSEAS BANK LIMITED
	Address	:	80 RAFFLES PLACE UOB PLAZA SINGAPORE 048624

LITIGATION

Clear

COMPLIANCE

Date of Last AGM	:	30/06/2010
Date of Last AR	:	12/08/2010
Date of A/C Laid At Last AGM	:	31/12/2009

FINANCIAL HIGHLIGHTS

Financial Figures	Company
	DEC 2009	% Change	DEC 2008	DEC 2007
Currency	SGD - SIN		SGD - SIN	SGD - SIN
Profit and Loss Key Figures
Turnover	77,782,480	9.53	71,014,517	17,799,181
Profit/(Loss) Before Tax	436,476	33.03	328,107	333,099
Profit After Tax attributable to Shareholders	395,847	31.53	300,951	301,611
Balance Sheet Key Figures
Total Assets	15,813,010	290.92	4,045,124	4,879,227
Current Assets	15,810,934	291.49	4,038,683	4,817,938
Non Current Assets	2,076	-67.77	6,441	61,289
Total Liabilities	14,773,901	331.81	3,421,382	4,382,570
Current Liabilities	14,773,566	331.80	3,421,382	4,382,570
Non Current Liabilities	335	NA	0	0
Shareholders' Funds	1,039,110	66.59	623,743	496,657
Share Capital	190,294	3.13	184,519	195,046
Total Reserves	848,816	93.25	439,224	301,611

FINANCIAL RATIOS

	Company
	DEC 2009	DEC 2008	DEC 2007
Growth %
Year-on-Year Growth	9.53	298.98	NA
Profitability
Profit Margin (%)	0.51	0.42	1.69
Return on Equity (%)	38.09	48.25	60.73
Return on Assets (%)	2.50	7.44	6.18
Leverage
Total Debt/Equity (Times)	14.22	5.49	8.82
Current Debt/Equity (Times)	14.22	5.49	8.82
Long Term Debt To Equity (Times)	0.00	0.00	0.00
Total Asset To Total Equity (Times)	15.22	6.49	9.82
Asset Management
Total Assets Turnover (Times)	4.92	17.56	3.65
Fixed Assets Turnover (Times)	37,467.48	11,025.39	290.41
Liquidity
Current Ratio (Times)	1.07	1.18	1.10

FINANCIAL COMMENTARY

Profitability

The company yielded a rate of net profit on sales of 0.51 per cent in FY09 (FY08: 0.42 per cent). The company is now able to book in SGD - SIN 0.01 of profit for every SGD - SIN of sales in FY09, as compared with SGD - SIN 0.00 a year ago.

Liquidity

Current ratio stood at 1.07 times in FY09 (FY08: 1.18 times). This means that the company has SGD - SIN 1.07 of current assets for every SGD - SIN of current liability incurred.

A minimum figure of 1.0 would be considered the lowest limit that this figure should reach. Any business that has a current ratio near 1.0 may be heading for liquidity problems, and would need to be closely monitored. A figure greater than 2.0 would be more desirable, to act as a buffer against any short-term liquidity problems, and give creditors/bank managers a degree of comfort when granting credit/finance.

FINANCIAL COMMENTARY

Leverage

Total debt-to-equity ratio notched 14.22 times in FY09, as compared with 5.49 times in FY08. This means that the company requires additional external financing of SGD - SIN 14.22 for every SGD - SIN injected into its operations.

Generally, a total debt-to-equity ratio of less than 0.5 times is preferred. The ratio measures the proportion of the company's reliance on external debt for financing, relative to the shareholder's fund. A lower ratio would imply a greater financial safety and operating freedom for the company.

Efficiency Ratio

Return on equity was 38.09 per cent for Subject in the current financial period, as compared to 48.25 per cent a year ago. The return on equity measures the return earned on the owner's investment. Generally, the higher this return, the better off the owner.

Return on assets stood at 2.50 per cent (FY08: 7.44 per cent). The return on asset measures the overall effectiveness of management in generating profit with its available assets.

Total assets turnover ratio logged at 4.92 times in FY09 (FY08: 17.56 times). This ratio measures the company's ability to make productive use of its total assets to generate sales which reflects the efficiency of the management in utilising its resources.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.27
UK Pound	1	Rs.72.08
Euro	1	Rs.63.66

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
--	NB	New Business	--

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.