MIRA INFORM REPORT

Report Date :

27.12.2011

IDENTIFICATION DETAILS

Name :	GUAN-CHAN WHOLESALE & LOGISTICS CO.

Registered Office :	1,2,3,4f., No.9-1, Gongyecyu 2nd Rd., Situn District, Taichung City 407

Country :	Taiwan

Date of Incorporation :	09.04.2004

Com. Reg. No.:	27278703

Legal Form :	Joint Stock Company

Line of Business :	Import of foreign fruit, and logistic activities

No. of Employees :	73 Employees

RATING & COMMENTS

MIRA’s Rating :

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

Maximum Credit Limit :	USD 10,000

Status :	Moderate

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)

Taiwan

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

Contact Points

Company Name:	Guan-Chan Wholesale & Logistics Co.
Supplied Name:	Guan Chan Wholesale and Logistics Co
Trading Address:	1,2,3,4 F., No.9-1, Gongyecyu 2nd Rd., Situn District, Taichung City 407, Taiwan (R.O.C.)
Supplied Address:	No. 9-1 2^nd Road, Taichung Industrial Park Taichung City Taichung Taiwan
Telephone Number:	+886 4-2350-7266
Fax Number:	+886 4-2359-8986
E-mail:	gz.chang@msa.hinet.net

Notes:

The exact name is as above.

The supplied address is incomplete, and the exact address is as above.

Credit Summary

Credit Rating:	Maximum credit USD 10,000
Credit Opinion:	Business connections are permissible.

Company Identification Details

Registered Name:	Guan-Chan Wholesale & Logistics Co.
Registered Address:	1,2,3,4f., No.9-1, Gongyecyu 2nd Rd., Situn District, Taichung City 407, Taiwan (R.O.C.)
Date of Foundation:	2004-4-9
Registration Number:	27278703
Registry:	MOEA Central Office
Registered Capital:	NTD 120,000,000 (USD 3,942,660) (As of 2011.12, 1 NTD = 0.03286 USD)
Paid-up Capital:	NTD 120,000,000 (USD 3,942,660)
Legal Representatives:	Qingcheng Su
Legal Form:	Joint Stock Company
Principal Activities:	Import of foreign fruit, and logistic activities.
Staff:	About 73 Employees
Listed at Stock Exchange:	No
Date of Last Annual Return:	2011-5-10

History

Subject was incorporated on 2004-4-9 with registered number 27278703 as Joint Stock Company in Taiwan.

Shareholders

Name	Subscription Number
Guan-Chan Enterprise(translated)	8,400,000
Yaling Laisu
380,000
Yongliang Zhang	360,000
Tanghua Linhuang	120,000

The information above is that of subject’s major shareholders.

Subsidiaries & Branches

Parent Company

Name	Guan-Chan Enterprise(translated)

Personnel Information

Core Management

Directors

1
Name	Qingcheng Su
Position	Board Chairman
2
Name	Ruken Tu
Position	Director
3
Name	Zhaokai Huang
Position	Director
4
Name	Meixing Su
Position	Director
5
Name	Zhihua Zhang
Position	Director
6
Name	Boyuan Chen
Position	Supervisor
7
Name	Yaling Laisu
Position	Director
8
Name	Yongliang Zhang
Position	Director
9
Name	Tanghua Linhuang
Position	Director

Personnel Structure

Total Employees

About 73 Employees

Operation Information

Offices & Factories

	Headquarters
Add	1,2,3,4F., No.9-1, Gongyecyu 2nd Rd., Situn District, Taichung City 407, Taiwan (R.O.C.)

Production Information

l Subject is a trader of imported and local fruits without any production activities

Purchase Information

l The registered activities of subject:

Business Code	Details
F101040	Wholesale of livestock
F102010	Wholesale of frozen food
F102020	Wholesale of oil
F102050	Wholesale of tea
ZZ99999	Besides licensed business, all other business items those are not banned or restricted.

l The fruits are purchased from local Taiwan, USA, and New Zealand..

Sales Information

l The subject is mainly engaged in trading of imported and local fruits.

l Subject introduced that it has the logistic activity, but declined to disclose more details about it.

l Subject introduced that the imported fruit are mainly imported from USA and New Zealand.

l And subject introduced that it has a brand named Tongyi.

l Subject’s selling territory covers local Taiwan, and it doesn’t export.

Import and export right:

Import right	Yes
Export right	Yes

Settlements

Subject declined to disclose the settlements information, and from other sources, we couldn’t obtain the information, either.

Financial Information

Subject has no obligations to disclose its financial statements to the third party according to the relevant policy in Taiwan and the only source from which we can obtain the information is the subject itself.

Subject’s relevant staff Mr. Chen declined to disclose its financials citing the grounds of company’s confidentiality; from other source we can not obtain the relevant information, either.

Bankers

The bankers’ information is not available from the subject or other sources.

Public Record

Mortgage

No chattel mortgage record of subject has been found within the recent 3 months.

Lawsuit

Up to date of reporting, no existing or latent litigation of the subject has been found.

Interview Details

Name

Mr. Chen

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.82
UK Pound	1	Rs.82.07
Euro	1	Rs.68.93

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.