MIRA INFORM REPORT

Report Date :

19.01.2011

IDENTIFICATION DETAILS

Name :	GOLDEN DC (HK) TRADING LTD.
Registered Office :	C/o Walwick Registrations Ltd. Room 1801A, 18/F., On Hong Commercial Building, 145 Hennessy Road, Wanchai
Country :	Hong Kong
Date of Incorporation :	08.01.2010
Com. Reg. No.:	51658006
Legal Form :	Private Limited Company
Line of Business :	Importer and Exporter of all kinds of chemical raw materials.

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
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

GOLDEN DC (HK) TRADING LTD.

ADDRESS

c/o Walwick Registrations Ltd.

Room 1801A, 18/F., On Hong Commercial Building, 145 Hennessy Road, Wanchai, Hong Kong.

PHONE: 3543 0977

FAX: 3543 0978

(Formerly located at:

c/o Chung Shing Group Co. Ltd.

Room 2706, 27/F., West Tower, Shun Tak Centre,

200 Connaught Road Central, Hong Kong. )

MANAGEMENT

Managing Director: Mr. Chen Weibo

SUMMARY

Incorporated on: 8th January, 2010.

Organization: Private Limited Company.

Capital: Nominal: HK$10,000.00

Issued: HK$10,000.00

Business Category: Chemical Raw Material Trader.

Employees: Nil.

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

Banking Relation: Satisfactory.

ADDRESS

Registered Head Office:-

c/o Walwick Registrations Ltd.

Room 1801A, 18/F., On Hong Commercial Building, 145 Hennessy Road, Wanchai, Hong Kong.

Affiliated Company:-

Shantou Jindecheng Trading Co. Ltd.

Room 702, 28 Haibin Road, Shantou Special Economic Zone, China.

[Tel: 86-754-8887 3722; Fax: 86-754-8889 5428]

BUSINESS REGISTRATION NUMBER

51658006

COMPANY FILE NUMBER

1409601

MANAGEMENT

Managing Director: Mr. Chen Weibo

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

SHAREHOLDER

(As per registry dated 08-01-2011)

Name	No. of shares
CHEN Weibo	10,000 =====

DIRECTOR

(As per registry dated 08-01-2011)

Name (Nationality)	Address
CHEN Weibo	Block 74, Jintai Garden Villa District, Zhongshan Road, Zhuchi Street, Shantou Special Economic Zone, China.

SECRETARY

(As per registry dated 08-01-2011)

Name	Address	Co. No.
Walwick Registrations Ltd.	Room 1801A, 18/F., On Hong Commercial Building, 145 Hennessy Road, Wanchai, Hong Kong.	0982700

HISTORY

The subject was incorporated on 8th January, 2010 as a private limited liability company under the Hong Kong Companies Ordinance.

Initially the registered address of the subject was located at Room 2706, 27/F., West Tower, Shun Tak Centre, 200 Connaught Road Central, Hong Kong where is the operating address of a commercial service provider known as Chung Shing Group Co. Ltd., moved to the present address in January 2011 where is the operating address of a secretarial firm Walwick Registrations Ltd.

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

OPERATIONS

Activities: Importer and Exporter.

Lines: All kinds of chemical raw materials.

Employees: Nil.

Commodities Imported: India, Switzerland, other European countries, etc.

Markets: China, other Asian countries, etc.

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

Terms/Buying: L/C, T/T, D/P, 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: Too early to offer an opinion.

Condition: Business is under development.

Facilities: Making fairly 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

Golden DC (HK) Trading Ltd. is solely owned by Mr. Chen Weibo who is a China merchant. Chen is a China ID Card holder and does not have the right to reside in Hong Kong permanently. He is also the only director of the subject. Currently, he is residing in Shantou Special Economic Zone, China.

The subject does not have its own operating office. Its registered office is in a Hong Kong registered firm located at Room 1801A, 18/F., On Hong Commercial Building, 145 Hennessy Road, Wanchai, Hong Kong known as Walwick Registrations Ltd. [Walwick] which is handling its correspondences. Walwick is also the corporate secretary of the subject.

To our knowledge, the subject has got an affiliated company in Shantou Special Economic Zone, China known as Shantou Jindecheng Trading Co. Ltd. [Jindecheng] which is a chemical raw materials trader. Your given phone and fax number belong to Jindecheng.

Founded in 1997, Jindecheng is trading in chemical raw materials such as propylene glycol, ethylene glycol, maleic anhydride, phthalic anhydride styrene, etc. Products are imported from India, Switzerland, other European countries, etc. Some of the chmicals are manufactured in China. Prime markets are China and the other Asian countries, the Middle East, Australia, Europe and North America. Jindecheng is also the agent in South China of Jilin Changchun Dacheng Group which is producing resins. Most of the time, Chen Weibo is in Shantou SEZ administering the business of Jindecheng.

Currently, Jindecheng is employing about 15 persons in Shantou Special Economic Zone, China. Annual sales turnover ranges from US$4 to 5 million. Making a small profit every year. Jindecheng 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 subject has set up an office in Sydney of Australia. It has claimed to be “the largest resin alcohol distributor in China”.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 L/C basis.

COURT CASES: None per our.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.53
UK Pound	1	Rs.72.56
Euro	1	Rs.60.62

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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