MIRA INFORM REPORT

Report Date :

16.02.2011

IDENTIFICATION DETAILS

Name :	UNION TRADE INTERNATIONAL LTD.
Registered Office :	c/o Business Centre, Room 2105, 21/F., JBJ029, Trend Centre, 29-31 Cheung Lee Street, Chai Wan
Country :	Hong Kong
Date of Incorporation :	11.01.2008
Com. Reg. No.:	38886278
Legal Form :	Private Limited Company
Line of Business :	---

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 :	No operating office 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 – June 30, 2010

Country Name	Previous Rating (01.04.2010)	Current Rating (30.06.2010)
Hong Kong	A2	A2

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

Company address

Registered Office:-

c/o Business Centre

Room 2105, 21/F., JBJ029, Trend Centre, 29-31 Cheung Lee Street, Chai Wan, Hong Kong.

Note: Given address “Room 907, JBJ209, Wing Tuck Commercial Centre, 177-183 Wing Lok Street, Sheung Wan, Hong Kong” was the old address of the business centre.

BUSINESS REGISTRATION NUMBER

38886278

COMPANY FILE NUMBER

1203092

DATE OF INCORPORATION

11th January, 2008.

CAPITAL

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

Issued Share Capital: HK$10.00

SHAREHOLDERS

(As per registry dated 11-01-2011)

Name		No. of shares
TIAN Furong		8
HUANG Qiong		2
		––
	Total:	10 ==

DIRECTORS

(As per registry dated 11-01-2011)

Name (Nationality)	Address
TIAN Furong	Room 2105, 21/F., JBJ029, Trend Centre, 29-31 Cheung Lee Street, Chai Wan, Hong Kong
HUANG Qiong	Room 2105, 21/F., JBJ029, Trend Centre, 29-31 Cheung Lee Street, Chai Wan, Hong Kong

SECRETARY

(As per registry dated 11-01-2011)

Name	Address	Co. No.
World Trade Enterprises Consultancy Ltd.	15/F., Highgrade Building, 117 Chatham Road, Tsimshatsui, Kowloon, Hong Kong.	1156560

GENERAL

Union Trade International Ltd. was incorporated on 11th January, 2008 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 commercial centre firm located at Room 2105, 21/F., JBJ029, Trend Centre, 29-31 Cheung Lee Street, Chai Wan, Hong Kong where is a business centre. The business centre is handling its correspondences and documents. Formerly the business centre was located at Room 907, 9/F., JBJ209, Wing Tuck Commercial Centre, 177-183 Wing Lok Street, Sheung Wan, Hong Kong, moved to the present address in December 2010, so did the subject.

The subject has no employees in Hong Kong.

According to the Companies Registry of Hong Kong, the subject has issued 10 ordinary shares of HK$1.00 each of which 8 shares are owned by Ms. Tian Furong, and 2 shares are owned by Ms. Huang Qiong. Tian and Huang are also directors of the subject. Being China ID holders and China business, the two directors are considered residing in China.

The subject’s lines of business are unknown since the business centre declined to divulge any information about it. The directors of the subject cannot be reached as they are in China.

It is likely that the subject has got an affiliated company in China which is also operated by Huang and Tian. However, details are unknown.

It is likely that the China firm deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong. The China firm also exports commodities to foreign markets under the name of the subject and its registered address in Hong Kong.

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

COURT CASES: None per our.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.45
UK Pound	1	Rs.72.90
Euro	1	Rs.61.43

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 Company	----

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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