MIRA INFORM REPORT

Report Date :

13.01.2011

IDENTIFICATION DETAILS

Name :	EQUATOR INTERNATIONAL LTD.
Registered Office :	Room 913, 9/F., Flourish Industrial Building, 33 Sheung Yee Road, Kowloon Bay, Kowloon
Country :	Hong Kong
Date of Incorporation :	04.06.1992
Com. Reg. No.:	15752648
Legal Form :	Private Limited Company
Line of Business :	Importer and Exporter of Textile machinery and equipment, 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 :	Regular
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

EQUATOR INTERNATIONAL LTD.

ADDRESS

Room 913, 9/F., Flourish Industrial Building, 33 Sheung Yee Road, Kowloon Bay, Kowloon, Hong Kong.

PHONE: 2753 8062, 2753 8065

FAX: 2750 0525, 2811 3417

E-MAIL: equator@ctimail.com

equator@on-nets.com

MANAGEMENT

Managing Director: Mr. To Yam Yuen, Tenny

SUMMARY

Incorporated on: 4th June, 1992.

Organization: Private Limited Company.

Capital: Nominal: HK$10,000.00

Issued: HK$10,000.00

Business Category: Importer and Exporter.

Annual Turnover: HK$20~25 million.

Employees: 4.

Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Banking Relation: Satisfactory.

ADDRESS

Registered Head Office:-

Room 913, 9/F., Flourish Industrial Building, 33 Sheung Yee Road, Kowloon Bay, Kowloon, Hong Kong.

BUSINESS REGISTRATION NUMBER

15752648

COMPANY FILE NUMBER

0361038

MANAGEMENT

Managing Director: Mr. To Yam Yuen, Tenny

CAPITAL

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

Issued Share Capital: HK$10,000.00

SHAREHOLDERS

(As per registry dated 04-06-2010)

Name		No. of shares
TO Yam Yuen		9,999
TSOI Lai Man		1
		––––––
	Total:	10,000 =====

DIRECTORS

(As per registry dated 04-06-2010)

Name (Nationality)	Address
TO Yam Yuen	Flat E, 23/F., Yen Kung Mansion, Taikoo Shing, Quarry Bay, Hong Kong.
TSOI Lai Man	Flat E, 23/F., Yen Kung Mansion, Taikoo Shing, Quarry Bay, Hong Kong.

SECRETARY

TO Yam Yuen (As per registry dated 04-06-2010)

HISTORY

The subject was incorporated on 4th June, 1992 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 and Exporter.

Lines: Textile machinery and equipment, etc.

Employees: 4.

Commodities Imported: Europe, China, India, other Asian countries, etc.

Markets: China, Asian countries, etc.

Annual Turnover: HK$20~25 million.

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

Terms/Buying: L/C, etc.

FINANCIAL INFORMATION

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

Issued Share Capital: HK$10,000.00

Profit or Loss: Making a small profit every year.

Condition: Keeping in a satisfactory manner.

Facilities: Making rather active use of general banking facilities.

Payment: Met trade commitments as required.

Commercial Morality: Satisfactory.

Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Standing: Small.

GENERAL

Equator International Ltd. is almost wholly-owned by Mr. Tenny To Yam Yuen who is a Hong Kong merchant. The minor shareholder Ms. Tsoi Lai Man seems to be the wife of To.

The subject commenced business in June 1992.

The subject is trading in textile machinery and equipment. It is carrying the following commodities:-

Conveyor System (cigarette making conveyor belt)

Machinery — Textile and Garment (Dyeing/knitting/printing/jet print for fabric from the Netherlands and France, include for India market)

Leather Product Machinery and Equipment

Ball Bearing (Universal joint shaft from Germany)

All kinds of loom parts, etc.

The subject is able to supply new, reconditioned, second hand textile finishing and printing machines and accessories. It is also able to provide engineering work for supervision of disurantling, re-erection of textile weaving, finishing and printing machines to fit the needs of its buyers’ factories.

The subject’s machinery and equipment and other products are exported to China, the Middle East, Vietnam, India, Pakistan, other Asian countries, Nigeria, Europe, South America, etc.

The subject’s business is chiefly handled by To himself. History in Hong Kong is over eighteen years and seven months.

The annual sales turnover of the subject ranges from HK$20 to 25 million. Making a small profit every year.

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

COURT CASES: None per our.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.16
UK Pound	1	Rs.70.64
Euro	1	Rs.58.68

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.