MIRA INFORM REPORT

Report Date :

10.01.2011

IDENTIFICATION DETAILS

Name :	BERGNER (HK) LTD.
Registered Office :	6/F., Manhattan Place, 23 Wang Tai Road, Kowloon Bay, Kowloon
Country :	Hong Kong
Date of Incorporation :	01.03.2004
Com. Reg. No.:	34409018
Legal Form :	Private Limited Company
Line of Business :	Importer, Exporter and Wholesaler of Cooking utensils, knives, kettles, other kitchenware, electric appliances, medical devices, etc.

RATING & COMMENTS

MIRA’s Rating :

Ba

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 – 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 name

BERGNER (HK) LTD.

company ADDRESS

6/F., Manhattan Place, 23 Wang Tai Road, Kowloon Bay, Kowloon, Hong Kong.

PHONE: 2810 9011

FAX: 2810 5133

E-MAIL: info@bergner.com.hk

MANAGEMENT

Managing Director: Mr. Umesh Ramchandra Gupta

SUMMARY

Incorporated on: 1st March, 2004.

Organization: Private Limited Company.

Capital: Nominal: HK$10,000,000.00

Issued: HK$10,000,000.00

Business Category: Importer, Exporter and Wholesaler.

Employees: 6.

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

Banking Relation: Satisfactory.

COMPANY ADDRESS

Registered Head Office:-

6/F., Manhattan Place, 23 Wang Tai Road, Kowloon Bay, Kowloon, Hong Kong.

China Representative Offices:-

Guangzhou Representative Office
Room 1707, Exchange Square, 268 Dongfeng Zhong Road, Guangzhou 510030, Guangdong Province, China.
Tel: 86-20-8317 9617, 8317 9561
Fax: 86-20-8317 9081

Chaozhou Representative Office
Room 1601, Block 27, Lin Hai Ming Zhu Hua Yuan, Chao Zhou Road, Chaozhou 521000, Guangdong Province, China.
Tel: 86-0768-2803236, 2803943
Fax: 86-0768-2803227

Affiliated Companies:-

· Bergner DOO, Serbia.

· Bergner Impex India Private Ltd., India.

· Bergner Israel Ltd., Israel.

· Bergner Ukraine, Ukraine.

· Bergners Ltd., Latvia.

BUSINESS REGISTRATION NUMBER

34409018

COMPANY FILE NUMBER

0885555

MANAGEMENT

Chairman: Mr. Janek Davitashvili

Managing Director: Mr. Umesh Ramchandra Gupta

Contact Person: Mr. Michaely Michael

CAPITAL

Nominal Share Capital: HK$10,000,000.00 (Divided into 100,000 shares of HK$100.00 each)

Issued Share Capital: HK$10,000,000.00

SHAREHOLDERS

(As per registry dated 01-03-2010)

Name		No. of shares
Janek DAVITASHVILI		95,000
Umesh Ramchandra GUPTA		5,000
		–––––––
	Total:	100,000 ======

DIRECTORS

(As per registry dated 01-03-2010)

Name (Nationality)	Address
Janek DANVITASHVILI	Flat B, 29/F., Tower 5, Bel-Air On The Peak, Island South, 68 Bel-Air Peak Avenue, Hong Kong.
Umesh Ramchandra GUPTA	Flat B, 20/F., Block 1, Scenic Garden, 9 Kotewall Road, Hong Kong.

SECRETARY

(As per registry dated 01-03-2010)

Name	Address	Co. No.
Citizen’s Secretarial Services Ltd.	14/F., Shanghai Industrial Investment Building, 48 Hennessy Road, Wanchai, Hong Kong.	0032891

HISTORY

The subject was incorporated on 1st March, 2004 as a private limited liability company under the Hong Kong Companies Ordinance.

Formerly the subject was located at Room 3203C-3206, 32/F., The Centrium, 60 Wyndham Street, Central, Hong Kong, moved to the present address with effect from 7th June, 2010.

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

OPERATIONS

Activities: Importer, Exporter and Wholesaler.

Lines: Cooking utensils, knives, kettles, other kitchenware, electric appliances, medical devices,

etc.

Employees: 6.

Commodities Imported: China, other Asian countries, etc.

Markets: Eastern Europe, South America, etc.

Terms/Sales: L/C, T/T, etc.

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

FINANCIAL INFORMATION

Nominal Share Capital: HK$10,000,000.00 (Divided into 100,000 shares of HK$100.00 each)

Issued Share Capital: HK$10,000,000.00

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

Profit or Loss: Making a small profit every year.

Condition: Keeping in a satisfactory manner.

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.

· Bank of India, Hong Kong Branch.

· Bank of Baroda, Hong Kong Branch.

Standing: Normal.

GENERAL

Having issued 100,000 ordinary shares of HK$100.00 each, Bergner (HK) Ltd. is jointly owned by Mr. Janek Davitashvili, holding 95% interests; and Mr. Umesh Ramchandra Gupta, holding 5%. They are also directors of the subject. The former is also the Chairman of the subject.

The subject is a buying office trading in stainless steel, home electric appliances, porcelain, glassware, etc. It originated from Austria. The subject has been an established provider of kitchenware and various other household items for more than 10 years. It has gone from exclusively marketing to developing its own brands, which are carried by all major European retailers today.

Over the years, the subject has added many products to its portfolio and has earned a reputation as a “Can Do” company. It is an aggressive global consumer products company that designs, manufactures, and markets, nationally and internationally. It has strived to provide the “best consumer products” under recognized brands “BERGNER”.

Bergner began in 1995, when Austrian based young businessman, currently the chairman of Bergner, became one of the leading players on the markets of kitchenware products in Western and Eastern Europe. In the year of 2004, guided by the latest trends and industry dynamic of kitchenware products, Bergner moved to Hong Kong.

According to the subject, it has had corporate offices in various locations of Asia use basis for solid buying structure that includes advanced R&D department, efficient QC system, in-house design team and market analysis department, in charge of cooperation with strategic partners in Austria, Hungary, Poland, Czech and Slovak Republics, Bulgaria, Serbia and Montenegro, Russia, Ukraine, Brazil, India, Australia and other countries.

The subject’s business is steady as regular suppliers and customers have been maintained in Eastern Europe and South America, etc.

The subject’s contact person is Mr. Michaely Michael who is the Executive Vice President.

The history of the subject in Hong Kong is over six years and ten months.

On the whole, consider it good for normal business engagements.

COURT CASES: None per our.

MORTGAGE OR CHARGE

(Since 2009)

Date	Particulars	Amount
18-08-2009	Instrument: Memorandum Property: Distinctive No. of Receipts Date of Issue Amount Due Date 91210300003292 05-08-2009 US$1,365,618.20 05-11-2009 91210300003308 04-08-2009 US$ 535,000.00 05-11-2009 –––––––––––––– US$1,900,618.20 ============= Mortgagee: Bank of Baroda, Hong Kong Branch.	Loan or credit or other facilities
31-08-2010	Instrument: Memorandum Property: Distinctive No. of Receipts Date of Issue Amount Due Date 91210300004272 05-08-2010 US$1,906,225.08 05-11-2010 91210300004333 31-08-2010 US$ 670,000.00 05-11-2010 Mortgagee: Bank of Baroda, Hong Kong Branch.	Loan or credit or other facilities
15-11-2010	Instrument: Letter of Set-off and Appropriation Property: Deal No. Date Amount Due Date 165602 03-09-2010 US$339,082.73 03-12-2010 166759 03-11-2010 US$152,586.78 07-02-2011 166958 11-11-2010 US$285,000.00 03-12-2010 Mortgagee: Bank of India, Hong Kong Branch.	Advances and other banking facilities

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.37
UK Pound	1	Rs.70.38
Euro	1	Rs.58.93

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.