MIRA INFORM REPORT

Report Date :

11.01.2011

IDENTIFICATION DETAILS

Correct Name :	GGB ASIA PACIFIC
Registered Office :	Jalan Ciniru 2 No. 8, Kebayoran Baru, Jakarta Selatan, 12180
Country :	Indonesia
Year of Establishment :	2000’s
Com. Reg. No.:	Not Available
Legal Form :	Sole Proprietary Concern
Line of Business :	General Trading, Export Import, Agriculture Products

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 :	Moderate
Payment Behaviour :	Unknown
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)
Indonesia	b1	b1

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

Name of Concern

GGB ASIA PACIFIC

concern Address

Head Office

Correspondence Office

Jalan Ciniru 2 No. 8

Kebayoran Baru

Jakarta Selatan, 12180

Indonesia

Phone - (62-21) 7396954

Fax - (62-21) 72798523

Building Area - 1 storey

Office Space - 80 sq. meters

Region - Commercial Building

Status - Rent

· According investigation that the address is registered on Mrs. Ratna Soegiarto

Date of Incorporation

2000’s

Legal Form

Sole Proprietary Concern

Concern Reg.No.

Not Required

Concern Status

Private National Concern

Permit by the Government Department

The Department of Finance

Not Available

Related Concern

None

CAPITAL AND OWNERSHIP

Capital Structure :

Unknown

Owner :

Ms. Ratna Soegiarto

BUSINESS ACTIVITIES

Lines of Business :

General Trading, Export Import, Agriculture Products

Production Capacity :

None

Total Investment :

None

Started Operation :

Unknown

Technical Assistance :

None

Number of Employee :

None

Marketing Area :

Export - 100%

Main Customer :

Unknown

Market Situation :

Unknown

Main Competitor :

None

Business Trend :

No comment

BANKER, AUDITOR & LITIGATION

Banker :

Unknown

Auditor :

Internal Auditor

Litigation :

No litigation record in our database

FINANCIAL FIGURE

Annual Sales (estimated) :

Unknown

Net Profit (Loss) :

Unknown

Payment Manner :

Unknown

Financial Comments :

Weak

KEY EXECUTIVES

Board of Management :

Director - Ms. Ratna Soegiarto

Board of Commissioner :

None

Signatories :

Director (Ms. Ratna Soegiarto) is only the authorized person to sign the loan on behalf of the concern

CAPABILITIES

Management Capability :

Weak

Business Morality :

Prudent

Credit Risk :

Very High

Credit Recommendation :

Not qualified for credit assessment

Proposed Credit Limit :

Deposit or Advance Payments

Maximum Credit Limit :

No comment

OVERALL PERFORMANCE

Based to our investigation to the above address at Jalan Ciniru 2 No. 8, Kebayoran Baru, South Jakarta with phone number (62-21) 7396954, but after we contacted Ms. Ratna Soegiarto explained that GGB ASIA PACIFIC was not registered on the above address. According information from P.T. TELKOM, Jakarta explained the address is registered on Ms. Ratna Soegiarto.

Pursuant to Alibaba Internet, GGB ASIA PACIFIC was incorporated in Jakarta in 2000 with the status of Sole Proprietary Concern and owned by Ms. Ratna Soegiarto, an indigenous businessman. Being as Sole Proprietary Concern, the amount of its authorized capital was not mentioned at the time of its establishment.

Further to the Internet that GGB ASIA PACIFIC is a private national Concern engaged in trading, and export of agricultural commodities products. The Concern specializes in coconut palm oil, all grades of natural latex, nutmeg, cocoa and cashew nuts. The Concern obtained all the agricultural commodities products from Sumatera, Kalimantan and Sulawesi. The whole products exported to Eastern Asia, Africa, Mid East, Oceania, Western Europe, Eastern Europe, North America, etc.

So, we still doubt the activities of GGB ASIA PACIFIC because of the telephone number and address is difficult to be reached, although they explain and make their ads and promote activity in this concern's Alibaba Internet. We also doubt about the legality of this concern because many companies in Indonesia introduces its business in an internet though many are not legal activities and some of the companies address not clearly. We are sure GGB ASIA PACIFIC is a fictitious concern.

From the whole negative factors, we recommended to stop any new business relation to the concern.

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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