MIRA INFORM REPORT

Report Date :

06.08.2011

IDENTIFICATION DETAILS

Name :	JIANGSU SINORGCHEM TECH. CO., LTD.
Registered Office :	No. 1, Beihuan Road, Cao Xian Heze, Shandong, 274400
Country :	China
Date of Incorporation :	Not Available
Legal Form :	Private Independent
Line of Business :	Manufacturer of Chemical

RATING & COMMENTS

MIRA’s Rating :

Ca

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 :	Undetermined
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 – March 31^st, 2011

Country Name	Previous Rating (31.12.2010)	Current Rating (31.03.2011)
China	a2	a2

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

Bottom of Form

Company name & address

Jiangsu Sinorgchem Tech. Co., LTD.

No. 1, Beihuan Road

Cao Xian Heze

Shandong, 274400

China

Tel: 86 2150 352000

Fax: 86 2150 352848

Web: www.sinorgchem.com

synthesis

Employees: NA

Company Type: Private Independent

Reporting Currency: US Dollar

Annual Sales: NA

Total Assets: NA

Business Description

Chemicals - Diversified (Major)

Industry

Industry Chemical Manufacturing

ANZSIC 2006: 1899 - Other Basic Chemical Product Manufacturing Not Elsewhere Classified

NACE 2002: 246 - Manufacture of other chemical products

NAICS 2002: 32599 - All Other Chemical Product and Preparation Manufacturing

UK SIC 2003: 246 - Manufacture of other chemical products

US SIC 1987: 6719 - Offices of Holding Companies, Not Elsewhere Classified

Key Executives

Name	Title
Nongyue Wang	General Manager
Guangqiang Shi	Chairman & Legal Contact

1 - Profit & Loss Item Exchange Rate: USD 1 = USD 1

2 - Balance Sheet Item Exchange Rate: USD 1 = USD 1

Corporate Overview

Location

No. 1, Beihuan Road

Cao Xian Heze

Shandong, 274400

China

Tel: 86 2150 352000

Fax: 86 2150 352848

Web: www.sinorgchem.com

Sales USD(mil): NA

Assets USD(mil): NA

Employees: NA

Industry: Chemical Manufacturing

Company Type: Private Independent

Quoted Status: Not Quoted

Chairman & Legal

Contact: Guangqiang Shi

Contents

· Industry Codes

· Business Description

Industry Codes

ANZSIC 2006 Codes:

1899 - Other Basic Chemical Product Manufacturing Not Elsewhere Classified

1813 - Basic Inorganic Chemical Manufacturing

NACE 2002 Codes:

246 - Manufacture of other chemical products

2413 - Manufacture of other inorganic basic chemicals

NAICS 2002 Codes:

32599 - All Other Chemical Product and Preparation Manufacturing

32518 - Other Basic Inorganic Chemical Manufacturing

US SIC 1987:

6719 - Offices of Holding Companies, Not Elsewhere Classified

2819 - Industrial Inorganic Chemicals, Not Elsewhere Classified

UK SIC 2003:

246 - Manufacture of other chemical products

2413 - Manufacture of other inorganic basic chemicals

Business Description

Chemicals - Diversified (Major)

Executives Report

Board of Directors

Name	Title	Function
Guangqiang Shi	Chairman & Legal Contact	Chairman

Executives

Name	Title	Function
Nongyue Wang	General Manager	Division Head Executive
Guangqiang Shi	Chairman & Legal Contact	Legal Executive

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.80
UK Pound	1	Rs.72.86
Euro	1	Rs.63.11

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