MIRA INFORM REPORT

Report Date :

20.04.2011

IDENTIFICATION DETAILS

Name :	YAU LEE INDUSTRIAL CO.

Registered Office :	c/o Jumpstart Business Centre, Room 907-908, 9/F., Silvercord Tower 2, 30 Canton Road, Tsimshatsui, Kowloon

Country :	Hong Kong

Date of Incorporation :	04.05.2010

Com. Reg. No.:	52193392-000-05

Legal Form :	Sole Proprietorship Concern

Line of Business :	---

RATING & COMMENTS

MIRA’s Rating :

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

Status :	New Business

Payment Behaviour :	Unknown

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

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

Company name

YAU LEE INDUSTRIAL CO.

Company ADDRESS

Registered Office:-

c/o Jumpstart Business Centre

Room 907-908, 9/F., Silvercord Tower 2, 30 Canton Road, Tsimshatsui, Kowloon, Hong Kong.

Associated Company:-

Weelex Trading Company

c/o Jumpstart Business Centre

Room 2512, 25/F., Langham Place, Office Tower, 8 Argyle Street, Mongkok, Kowloon, Hong Kong. [Same owner]

BUSINESS REGISTRATION NUMBER

52193392-000-05

ESTABLISHMENT

4th May, 2010.

SOLE PROPRIETOR

Name: Mr. Kirtikumar Dahyabhai ITALIYA

Residential Address: 64/39 - Thanon Pan, Silom Road, Khet Bangrak, Bangkok, Thailand 10500.

GENERAL

Yau Lee Industrial Co. was established on 4th May, 2010 as a sole proprietorship concern owned by Mr. Kirtikumar Dahyabhai Italiya under the Hong Kong Companies Ordinance. The manager of the subject Italiya is an India passport holder. Currently he is residing in Bangkok, Thailand. Italiya does not have the right to reside in Hong Kong permanently.

The subject does not have its own operating office. Its registered office is in a business centre located at Room 907-908, 9/F., Silvercord Tower 2, 30 Canton Road, Tsimshatsui, Kowloon, Hong Kong known as Jumpstart Business Centre [Jumpstart] which is handling its correspondences and documents.

The subject has no employees in Hong Kong. Its lines of business are unknown since the business centre declined to divulge any information about it. The manager of the subject cannot be reached as he is in Thailand.

It is likely that the subject is a diamond and precious stone trader. Polished and cut diamonds are sourced from India and exported to Thailand.

Besides the subject, Italiya has set up another firm known as Weelex Trading Co. This firm is located at Room 2512, 25/F., Langham Place, Office Tower, 8 Argyle Street, Mongkok, Kowloon, Hong Kong where is the other operating address of Jumpstart.

It is likely that the subject has got an associated company in Thailand which is also operated by Italiya. However, details are unknown.

The Thailand firm deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong. The Thailand firm also exports commodities to foreign markets under the name of the subject and its registered address in Hong Kong.

The subject’s business in Hong Kong is not active. History in Hong Kong is just about a year.

On the whole, since the subject does not have its own operating office, history is short and has no employees in Hong Kong, 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.44.68
UK Pound	1	Rs.72.56
Euro	1	Rs.63.53

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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