MIRA INFORM REPORT

Report Date :

14.01.2011

IDENTIFICATION DETAILS

Name :	FOREVEREST RESOURCES DEVELOPMENT CO., LTD.

Registered Office :	Room 1604 No. 36 Lianbinli, North Hubin Road, Siming District, Xiamen, Fujian Province, 361012 Pr

Country :	China

Date of Incorporation :	04.07.2004

Com. Reg. No.:	0904468

Legal Form :	Private company with Limited Liability

Line of Business :	Export Business of Pine Chemicals

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	Not Registered in China

Payment Behaviour :	Unknown

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)

China

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

Company name & address

foreverest resources development co., ltd.

ROOM 1604 NO. 36 LIANBINLI, NORTH HUBIN ROAD, SIMING DISTRICT,

XIAMEN, FUJIAN PROVINCE, 361012 PR CHINA

361604

TEL: 86 (0) 592-5092299 FAX: 86 (0) 592-5151667

We dialed the above number, and a lady Ms. Sally Hong answered.

Ms. Hong told us that she is the general manager of SC, and she released the following information on SC:

SC’s Chinese name is 重华资源发展有限公司, and it is also known as Foreverest Resources Ltd.

SC is registered in Hong Kong not in Xiamen.

All of SC’s business is operating in Xiamen.

SC is mainly engaged in exporting pine chemicals, essential oils and aromatic chemicals.

At present, the pine chemicals export business are mainly operated by Foreverest Resources (Xiamen) Ltd., which is incorporated in 2010 and jointly occupying the heading premise with SC. The owners of the said company are the same as those that own SC.

E-mail: info@foreverest.cn

Business Information from SC’s website:

============================

Pine chemicals — Gum Rosin, Polymerized Rosin, Hydrogenated Rosin, Rosin modified Resin, Gum Turpentine, Pine Oil, Terpineol, Synthetic Camphor, Pine Tar, Tung Oil and other Pine Chemicals as well as essential Oils and Aromatic Chemicals.

Essential Oil and Aroma Chemicals — camphor oil, citronella oil, eucalyptus oil, evening primrose oil, ho oil, jojoba oil, mint oil, tangerine oil, wintergreen oil, wheat germ oil and etc.

Main market: Europe, USA, South America, Australia, Japan, Middle East, Africa and Southeast Asia etc.

However, Mr. Sally Hong refused to release SC’s general registration information.

The address client given is:

P.O. Box 12157 North Hubin Road, Xiamen 361012 China

According to Ms. Sally Hong, it is the post address of SC, and it is actually the same with the heading office address.

According to the Chinese 重华资源发展有限公司, careful investigations were made with Fujian provincial and Xiamen Municipal lcoal Administration for Industry and Commerce (AIC-The official body of issuing and renewing business license), but no of SC were found.

In Hong Kong Companies Registry, we found the registered information about SC as follows:

Foreverest Resources Development Co., Ltd.

==================================

Registered number : 0904468

Incorporated date : Jul. 4, 2004

Legal form : Private

SC is registered in Hong Kong and operating in Xiamen. Credit dealings with SC should be confined into C.O.D. at present.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.13
UK Pound	1	Rs.71.05
Euro	1	Rs.59.10

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

Company name & address

Unit