MIRA INFORM REPORT

Report Date :

01.07.2011

IDENTIFICATION DETAILS

Name :	INTERNATIONAL MERCANTILE CO. PTE. LTD.

Registered Office :	150 South Bridge Road #12-02 Fook Hai Bldg Singapore 058727

Country :	Singapore

Date of Incorporation :	13.06.1977

Com. Reg. No.:	197701249M

Legal Form :	Limited Exempt Private Company

Line of Business :	General wholesale trade (including general importers and exporters).

RATING & COMMENTS

MIRA’s Rating :

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 :	Poor

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 – March 31^st, 2011

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Singapore

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

Contact Points

Company Name:	International Mercantile Co. Pte. Ltd.
Supplied Name:	International Mercantile Co. Pte Ltd.
Trading Address:	No. 150, South Bridge Road, Unit 12-02, Fookhai Building, Singapore 058727
Supplied Address:	No. 150, South Bridge Road, Unit 12-02, Fookhai Building, Singapore 058727
Telephone Number:	+65-6535-3644

Special Note

We contacted the subject through the phone number +65-6535-3644 obtained from the internet, and the staff just confirmed the name and the address, but declined to confirm other information about the subject.

We did not find any other contact information or operation information of subject from public files, either.

We supplied subject’s principal activities registered in the local registry as follows for reference.

46900 General wholesale trade (including general importers and exporters).

46100 Wholesale on a fee or contract basis (eg commission agents)

We found subject’s registration information as follows for reference.

Company Identification Details

Registered Name:	International Mercantile Co. Pte. Ltd.
Registered Address:	150 South Bridge Road #12-02 Fook Hai Bldg Singapore 058727
Date of Registration::	1977-06-13
Registered Number:	197701249M
Country of Incorporation:	Singapore
Registered Capital:	SGD 2,000,000.00 (USD 1,617,730) = 2,000,000 Shares @1 SGD (As of 2011.06, 1 SGD =0.80887 USD)
Legal Form:	Limited Exempt Private Company
Principal Activities:	46900 General wholesale trade (including general importers and exporters). 46100 Wholesale on a fee or contract basis (eg commission agents)
Staff:	N/A
Status:	Live Company
Listed at Stock Exchange:	No
Date of Last Annual Return:	2010-11-29

History

Subject was incorporated on 1977-06-13 with registered number 197701249M as Limited Exempt Private Company in Singapore.

Shareholders

Unit: SGD

Name	Subscription Amount
HIMANSHU LALITRAI TIMBADIA	SGD 399,995
RAJNI TIMBADIA	SGD 260,001
INDUMATI LALITRAI TIMBADIA,MRS	SGD 679,980
HIMANIKA HIMANSHU TIMBADIA MRS	SGD 400,023
TIMBADIA MADHVI LALITRAI	SGD 260,001
Total	2,000,000.00

1
Name:	HIMANSHU LALITRAI TIMBADIA
ID Number:	S1650070D
Address:	77 Goodman Road Singapore 439041
Nationality:	Singapore Citizen
2
Name:	RAJNI TIMBADIA
ID Number:	S1797686I
Address:	74 Meyer Road Singapore 437899
Nationality:	Singapore Citizen
3
Name:	INDUMATI LALITRAI TIMBADIA,MRS
ID Number:	S2015555H
Address:	74 Meyer Road Singapore 437899
Nationality:	Singapore Citizen
4
Name:	HIMANIKA HIMANSHU TIMBADIA MRS
ID Number:	S2565990B
Address:	77 Goodman Road Singapore 439041
Nationality:	Singapore Citizen
5
Name:	TIMBADIA MADHVI LALITRAI
ID Number:	S7307018Z
Address:	74 Meyer Road Singapore 437899
Nationality:	Singapore Citizen

Manage Information

Core Management

Detailed Information of Management:

1
Name:	Mohamed Yusoff Bin Mohamed Kassim
Position:	Secretary
ID Number:	S0096443c
Address:	51 Mangis Road #01-03 ,Tian Court Singapore 424979
Nationality:	Singapore Citizen
Date of Appointment:	1977-6-27
2
Name:	Himanshu Lalitrai Timbadia
Position:	Director
ID Number:	S1650070D
Address:	77 Goodman Road Singapore 439041
Nationality:	Singapore Citizen
Date of Appointment:	1988-9-12
3
Name:	Indumati Lalitrai Timbadia Mrs
Position:	Director
ID Number:	S2015555H
Address:	74 Meyer Road Singapore 437899
Nationality:	Singapore Citizen
Date of Appointment:	1977-7-13
4
Name:	Himanika Himanshu Timbadia Mrs
Position:	Director
ID Number:	S2565990B
Address:	77 Goodman Road Singapore 439041
Nationality:	Singapore Citizen
Date of Appointment:	2002-5-2

Operation Information

Offices & Factories

	Office
Address:	150 South Bridge Road #12-02 Fook Hai Building, Singapore

Operation Information

We can not obtain subject’s operation details, thus we supplied subject’s principal activities registered in the local registry as follows for reference.

46900 General wholesale trade (including general importers and exporters).

46100 Wholesale on a fee or contract basis (eg commission agents)

Settlements

Subject declined to supply the settlement information, and from the other sources, we couldn’t obtain it, either.

Financial Information

Subject has no obligations to disclose its financial statements to the third party according to the relevant policy in Taiwan and the only source from which we can obtain the information is the subject itself.

Subject’s relevant staff declined to supply any information on the financial information

Bankers

Subject declined to supply any information on the financial information, and we couldn’t obtain the information from other sources.

Auditors

Name:

MGI MENON & ASSOCIATES

Interview Details

Name:

N/A

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.72
UK Pound	1	Rs.71.95
Euro	1	Rs.64.79

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.