MIRA INFORM REPORT

Report Date :

10.08.2011

IDENTIFICATION DETAILS

Name :	WIVO COMMUNICATIONS & ELECTRONIC LIMITED (WIVOTELECOM)

Registered Office :	Room 103, 1/F, Haixin Saiwei, No. 202, Yan’an San Road, Qingdao City, Shandong Province 266000 Pr

Country :	China

Date of Incorporation :	----

Com. Reg. No.:	----

Legal Form :	----

Line of Business :	----

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	Not registered in Hong Kong

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

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

Company name & address

WIVO COMMUNICATIONS & ELECTRONIC LIMITED (wivotelecom)

ROOM 103, 1/F, HAIXIN SAIWEI, NO. 202, YAN’AN SAN ROAD

QINGDAO CITY, SHANDONG PROVINCE 266000 PR CHINA

TEL: 86 (0) 532-66653977

FAX: 86 (0) 532-86683716

NARRATIVE REPORT

This refers to a type of report whose format is different from that of a standard report. Such type of report is provided when:

l Information obtained is insufficient for compiling a standard report.

l The enquired co has been out of business or its business address has been untraceable.

It should be noted that the time and manpower spent on preparing such type of report might be greater than those on a standard report. On many occasions, the information in this type of report still indicates the current status of the enquired co. and serves as a useful reference to assess its credit standing.

Adopted abbreviations

(as follows)

SC - Subject Company (the company inquired by you)

N/A – Not available

CNY – China Yuan Ren Min Bi

CHECK ON SC’S REGISTERED TELEPHONE LINE

² The given contact way is as below,

Tel: 86 (0) 532-66653977

When we dialed the given telephone number, a gentleman named William Wei answered the phone. He admitted the English name, and told us its Chinese name in translation is “帷幄电子通信有限公司”, which is registered in Hong Kong, but mainly operates in Qingdao, Shandong Province, PRC China, there is no one working in Hong Kong.

² William Wei introduced the below information,

A. SC is mainly engaged in exporting mobile phones.

B. SC registered in Hong Kong, which facilitates export business.

C. William Wei’s e-mail are: wivotelecom@gmail.com & william@wivotelecom.com

D. SC’s products mainly include: various mobile phones.

E. Acting brands: Hisense, Huawei, ZTE, etc.

F. SC sources its materials 100% from domestic market, mainly Qingdao, Shenzhen, etc. SC sells 100% of its products to overseas market, mainly India.

The buying terms of SC include Check, T/T and Credit of 30 days. The payment terms of SC include T/T, L/C and Credit of 30 days.

SPOT VISIT

Room 103, 1/F, Haixin Saiwei, No. 202, Yan’An San Road, Qingdao City, Shandong Province 266000 PR China

William Wei released that SC is currently working there.

REGISTRATION

According to the Chinese name “帷幄电子通信有限公司” William Wei released, a research was conducted with Qingdao municipal and Shandong Provincial Administration of Industry & Commerce (the official body of issuing and renewing business license), but no record of SC was found.

During our check with Hong Kong Registry, we found the following registration about SC,

Company Name: Wivo Communications & Electronic Limited

Company File No.: 0996420

Date of Registration: September 16, 2005

Legal Form: Private

Status: Live

CONCLUSIONS

SC is considered small-sized in its line with 6 years operation history. Credit dealings with SC should be confined into small amount at present.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.17
UK Pound	1	Rs.73.72
Euro	1	Rs.64.26

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