MIRA INFORM REPORT

Report Date :

29.04.2011

IDENTIFICATION DETAILS

Name :	POET (HK) LTD.

Registered Office :	c/o T & Y Consultants Ltd., Room 2101, 21/F., Hong Kong Trade Centre, 161-167 Des Voeux Road Central

Country :	Hong Kong

Date of Incorporation :	25.03.2009

Com. Reg. No.:	50491857

Legal Form :	Private Limited Liability Company

Line of Business :	-----

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	No operating Office

Payment Behaviour :	-----

Litigation :	-----

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

POET (HK) LTD.

Company ADDRESS

Registered Office:-

c/o T & Y Consultants Ltd.

Room 2101, 21/F., Hong Kong Trade Centre, 161-167 Des Voeux Road Central, Hong Kong.

[Tel: 2520 5644; Fax: 2865 3131]

Holding Company:-

Symphony Trading & Investments Ltd., British Virgin Islands.

BUSINESS REGISTRATION NUMBER

50491857

COMPANY FILE NUMBER

1324438

DATE OF INCORPORATION

25th March, 2009.

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 25-03-2010)

Name		No. of share
Symphony Trading & Investments Ltd. Vanterpool Plaza, 2/F., Wickhams Cay I, Road Town, Tortola, British Virgin Islands.		1 =

Name

No. of share

Symphony Trading & Investments Ltd.

Vanterpool Plaza, 2/F., Wickhams Cay I, Road Town, Tortola, British Virgin Islands.

DIRECTORS

(As per registry dated 25-03-2010)

Name (Nationality)	Address
Bharat MEKANI	1 Amber Road, #17-03, Singapore 439845.
Kirtida MEKANI	1 Amber Road, #17-03, Singapore 439845.

Name

(Nationality)

Address

Bharat MEKANI

1 Amber Road, #17-03, Singapore 439845.

Kirtida MEKANI

1 Amber Road, #17-03, Singapore 439845.

SECRETARY

(As per registry dated 25-03-2010)

Name	Address	Co. No.
T & Y Consultants Ltd.	Room 2101, 21/F., Hong Kong Trade Centre, 161-167 Des Voeux Road Central, Hong Kong.	0782398

GENERAL

Poet (HK) Ltd. was incorporated on 25th March, 2009 as a private limited liability company under the Hong Kong Companies Ordinance.

The subject does not have its own operating office. Its registered office is in a consultant firm located at Room 2101, 21/F., Hong Kong Trade Centre, 161-167 Des Voeux Road Central, Hong Kong known as T & Y Consultants Ltd. which is handling its correspondences and documents. T & Y Consultants Ltd. is also the corporate secretary of the subject.

The subject has no employees in Hong Kong.

According to the Companies Registry of Hong Kong, the subject has issued just one ordinary share of HK$1.00 which is owned by Symphony Trading & Investments Ltd., a BVI-registered firm. The directors of the subject are Mr. Bharat Mekani and Ms. Kirtida Mekani. Both are Singapore passport holders and currently residing in Singapore. To our knowledge, the two directors are the principals of Treewood-Basil Private Equity Fund [Treewood-Basil] which is a Singapore-based organization.

Treewood-Basil has both an Indian and an international team (Singapore, California, New York, London) comprising of people across IT/ITES, Private Equity and General Management background. They have extensive experience in successfully running and building small and large IT/ITES and Technology businesses. They also have experience in identifying potential companies in niche areas for investment and negotiating deals at a discount to the market valuation.

The subject’s business in Hong Kong is not active.

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

REMARKS:

Brief personal history and profiles of the directors of the subject:-

Mr. Bharat MEKANI has several years of experience in institutional advancement gained from having worked in international institutions in Singapore and Russia. Currently sits on the Board of Advisors in various business houses. He was Director of Lintas PE handling business development and advising on PE investments. Clients include Merrill Lynch India real estate, ATS realtors, etc. He is an investment advisor. Currently he is an advisor of “Crossover Advisors” [Crossover]. Crossover delivers private equity with impact by partnering with innovative entrepreneurs and management teams along with investors. Since inception, a central component of Crossovers’ charter has been to invest in and help build innovative, high-growth companies.

He is also Chairman and Founder of CIS Agriferts Pte. Ltd., a Singapore based company having good client base and trading in IT products such as computer, mouse and also in machinery items to well reputed client base across globe. It has been engaged in trading business with Russia, Kazakhstan and India.

He is Director of Synergy Trade & Finance Pte. Ltd., a Singapore based company with a turnover around S$20 million in 2009.

He is Director in Trade Sea International Pte. Ltd., a company engaged in trading business and has an office in Singapore. It trades in IT enabled hardware products with a turnover of around S$25 million in 2009.

He is also President of Agio Countertrade Pte. Ltd.

Ms. Kirtida MEKANI has had the following posts:-

· Director of CIS Agriferts Pte. Ltd., Singapore

· Director of Synergy Trade & Finance Pte. Ltd., a Singapore based company

· Director of Trade Sea International Pte. Ltd.

She has Advisory Roles in the following institutions:-

· United World College of South East Asia

· Global Indian International School based in Singapore

· Lasalle Foundation Ltd, Singapore

· Symbiosis International Schools, Pune

· Prem Tinsulanonda International School

She is also a Committee Member of the following:-

· Singapore environment Council

· South West Community Development Council of Singapore

· National University of Singapore- School of Design and Environment

Court Cases: None per our.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.33
UK Pound	1	Rs.74.14
Euro	1	Rs.65.78

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%)

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