MIRA INFORM REPORT

Report Date :

06.12.2011

IDENTIFICATION DETAILS

Name :	CONTINENT INTERNATIONAL LTD.

Registered Office :	Unit A, 12/F., China Overseas Building, 139 Hennessy Road, Wanchai

Country :	Hong Kong

Date of Incorporation :	07.08.2002

Com. Reg. No.:	32919166

Legal Form :	Private Limited Company

Line of Business :	Importer, Exporter and Wholesaler of all kinds of chemicals, petrochemicals, etc.

No. of Employees :	7 (Including affiliates)

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
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 – September 30^th, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Hong Kong

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

Company name

CONTINENT INTERNATIONAL LTD.

Company ADDRESS

Unit A, 12/F., China Overseas Building, 139 Hennessy Road, Wanchai, Hong Kong.

PHONE: 2527 1663

FAX: 2527 2387

MANAGEMENT

Managing Director: Mr. Suh Eun Seok

SUMMARY

Incorporated on: 7th August, 2002.

Organization: Private Limited Company.

Capital: Nominal: HK$1,000,000.00

Issued: HK$1,000,000.00

Business Category: Importer, Exporter and Wholesaler.

Employees: 7. (Including affiliates)

Main Dealing Banker: DBS Bank (Hong Kong) Ltd., Hong Kong.

Banking Relation: Satisfactory.

company ADDRESS

Registered Head Office:-

Unit A, 12/F., China Overseas Building, 139 Hennessy Road, Wanchai, Hong Kong.

Affiliated Companies:- (Same address)

· Green Corporation Ltd., Hong Kong.

· Hymax International Ltd., Hong Kong.

· JC Petrochem Ltd., Hong Kong.

BUSINESS REGISTRATION NUMBER

32919166

COMPANY FILE NUMBER

0809364

MANAGEMENT

Managing Director: Mr. Suh Eun Seok

CAPITAL

Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)

Issued Share Capital: HK$1,000,000.00

SHAREHOLDER

(As per registry dated 07-08-2011)

Name		No. of shares
SUH Eun Seok		1,000,000 =======

Name

No. of shares

SUH Eun Seok

1,000,000

=======

DIRECTOR

(As per registry dated 07-08-2011)

Name (Nationality)	Address
SUH Eun Seok	Flat E, 8/F., East Pacific Garden, Phase 2, Block 15, Shenzhen, China.

Name

(Nationality)

Address

SUH Eun Seok

Flat E, 8/F., East Pacific Garden, Phase 2, Block 15, Shenzhen, China.

SECRETARY

(As per registry dated 07-08-2011)

Name	Address	Co. No.
Tims Corporate Services Ltd.	Room A, 15/F., Fortis Tower, 77-79 Gloucester Road, Wanchai, Hong Kong.	0284320

HISTORY

The subject was incorporated on 7th August, 2002 as a private limited liability company under the Hong Kong Companies Ordinance.

Apart from these, neither material change nor amendment has been ever traced and noted.

OPERATIONS

Activities: Importer, Exporter and Wholesaler.

Lines: All kinds of chemicals, petrochemicals, etc.

Employees: 7. (Including affiliates)

Commodities Imported: Europe, India, Taiwan, etc.

Markets: China, Japan, other Asian countries, North America, etc.

Terms/Sales: L/C or as per contracted.

Terms/Buying: L/C, D/P, etc.

FINANCIAL INFORMATION

Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)

Issued Share Capital: HK$1,000,000.00

Alternation of Capital:-

Initially	paid up	HK$ 100.00
07-05-2010	paid up	HK$ 999,900.00
		–––––––––––––––
Total:	paid up	HK$ 1,000,000.00 ==============

Mortgage or Charge (since 2009): (See attachment)

Profit or Loss: Making a small profit every year.

Condition: Keeping in a satisfactory condition.

Facilities: Making active use of general banking facilities.

Payment: Met trade commitments as required.

Commercial Morality: Satisfactory.

Bankers:-

· DBS Bank (Hong Kong) Ltd., Hong Kong.

· BNP Paribas, Hong Kong Branch.

Standing: Normal.

GENERAL

Having issued 1 million ordinary shares of HK$1.00 each, Continent International Ltd. is wholly owned by Mr. Suh Eun Seok who is a China merchant. Suh is also the only director of the subject. He is a Hong Kong ID Card holder but most of the time he is residing in Shenzhen Special Economic Zone, China.

The subject is a chemical and petrochemical product trader. It has got the following affiliated companies located at its operating address:-

Green Corporation Ltd.

Hymax International Ltd.

JC Petrochem Ltd.

The old name of Hymax International Ltd. was Continent International (HK) Ltd.

The subject and its affiliated companies are trading in paraffin wax, wax, lubricants, etc. Commodities are imported from Germany, Switzerland, India and Taiwan. Prime markets are Hong Kong, Japan, China, North America, etc. The subject also exports China petrochemical products to worldwide countries. Overall business is steady. Making a small profit in the past years.

The subject’s business is chiefly handled by Suh himself.

Having issued 1 million ordinary shares of HK$1.00 each, Green Corporation Ltd. is wholly owned by Megamaster Holdings Ltd. which is a Hong Kong-registered firm.

The director of Green Corporation Mr. Mark Oliver Von Torklus is also the director of Helm Hong Kong Ltd. [Helm HK] which is a chemical trader. Helm HK is located at a different address. Von Torklus is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.

The subject and Green Corporation are engaged in the same lines of business.

As the history of the subject is about nine years and four months in Hong Kong, on the whole, consider it good for normal business engagements.

MORTGAGE OR CHARGE

(Since 2009)

Date	Particulars	Amount
23-07-2010	Instrument: Charge over Stocks and Receivables Property: By way of a first fixed charge all the Receivables and the Goods and by way of a first floating charge all the Receivables and Goods and assigns and agrees to assign absolutely and unconditionally Mortgagee: BNP Paribas, Hong Kong Branch.	To secure all present and future indebtedness, obligations and liabilities
23-07-2010	Instrument: Pledge and Master Trust Receipt Property: As beneficial owner and as a continuing security for the payment or discharge in full of the Secured Liabilities Mortgagee: BNP Paribas, Hong Kong Branch.	Secured Liabilities means all present and future indebtedness, obligations and liabilities
23-07-2010	Instrument: Account Charge Property: As beneficial owner, charges and agrees to charge the deposit and all its right, title and interest in the deposit to the Bank by way of first fixed charge as continuing security for the payment and discharge of the Secured Liabilities Mortgagee: BNP Paribas, Hong Kong Branch.	Secured Liabilities means all present and future indebtedness, obligations and liabilities

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.51.40
UK Pound	1	Rs.80.20
Euro	1	Rs.68.92

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.