MIRA INFORM REPORT

Report Date :

26.07.2011

IDENTIFICATION DETAILS

Name :	ASIA SILK STORES
Registered Office :	Credit 77 High Street #04-04 High Street Plaza Singapore 179433
Country :	Singapore
Date of Incorporation :	25.02.1970
Com. Reg. No.:	07566300K
Legal Form :	Partnership Concern
Line of Business :	Wholesale of Clothing, Footwear and Leather Goods

RATING & COMMENTS

MIRA’s Rating :

B

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

Maximum Credit Limit :	USD 50,000
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 – March 31^st, 2011

Country Name	Previous Rating (31.12.2010)	Current Rating (31.03.2011)
Singapore	a1	a1

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

Bottom of Form

Contact Points

Company Name:	Asia Silk Stores
Supplied Name:	Asia Silk Stores
Trading Address:	77 High Street #04-04 High Street Plaza S179433, Singapore
Supplied Address:	77 Migh Street, # 04-04High Street Plaza, Singapore 179423, Singapore
Telephone Number:	+65 6336-1605
Fax Number:	+65 6338-2819

Credit Summary

Credit Rating:	Maximum credit USD 50,000
Credit Opinion:	Business connections are permissible.

Special Note

According to the supplied name and address, we found the telephone number (+65 6336-1605), and the staff of the subject declined to disclose any information on subject except the name and the address of the subject.

The registration files show that subject is engaged in wholesaling of textiles, etc, since we did not get in touch with subject, we can not confirm the information.

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

Company Identification Details

Registered Name:	Asia Silk Stores
Registered Address:	77 High Street #04-04 High Street Plaza Singapore 179433, Singapore
Date of Foundation:	1970-2-25
Date of Registration::	1975-5-8
Registered Number:	07566300K
Registered Capital:	N/A
Legal Form:	Partnership
Principal Activities:	Wholesale of Clothing, Footwear and Leather Goods
Staff:	N/A
Status:	Live Company
Listed at Stock Exchange:	No.
Date of Last Annual Return:	N/A

Note:

The Registered Capital and Staff number are not available from the subject or other sources.

History

Subject was incorporated on 1975-5-8 with registered number 07566300K as Partnership Company in Singapore.

Partnership

Major Shareholder Information:

1
Name:	GUNVANTRAI JAGANNATH DOSHI
ID Number:	S1110708G
Address:	82 Jalan Daud #09-03 Windy Heights Singapore 419592
Nationality:	Singapore Citizen
Date of Appointment:	1970-2-25
2
Name:	BIPIN KUMAR S/O GUNVANTRAI DOSHI
ID Number:	S1782883E
Address:	82 Jalan Daud #09-03 Windy Heights Singapore 419592
Nationality:	Singapore Citizen
Date of Appointment:	1989-1-2
3
Name:	HEMANT KUMAR GUNVANTRAI DOSHI
ID Number:	S7005062E
Address:	71 Marine Drive #08-234 Singapore 440071
Date of Change of Address:	2008-10-2
Nationality:	Singapore Citizen
Date of Appointment:	1998-1-1

Change of Shareholders:

1
Name:	K.M. KAMDAR A/1 B.M. KAMDAR
ID Number:	0270444
Nationality:	Malaysian
Date of Change:	1989-1-1
2
Name:	BALVANTRAI S/O MAGANLAL KAMDAR
ID Number:	3899304
Nationality:	Malaysian
Date of Change:	1989-1-1
3
Name:	NAVINCHANDRA JAGANNATH
ID Number:	S0362826D
Nationality:	Singapore Citizen
Address:	415 Eunos Road 5 #04-40 Singapore 400415
Date of Change:	1989-1-1
4
Name:	SARYUBALA S DOSHI, MRS
ID Number:	S1834622B
Nationality:	SINGAPORE CITIZEN
Address:	82 Jalan Daud #11-02 Windy Heights Singapore 419592
Date of Change:	1989-1-1
5
Name:	RANJANBALA GUNVANTRAI
ID Number:	S2152666E
Nationality:	Singapore P.R.
Address:	82 Jalan Daud #11-02 Windy Heights Singapore 419592
Date of Change:	1997-7-12
6
Name:	BIPIN KUMAR KAMDAR S/O GULABCHAND KAMDAR
ID Number:	S2509496D
Nationality:	Singapore P.R.
Address:	99 Meyer Road #14-01 Sovereign, The Singapore 437920
Date of Change:	1989-1-1
7
Name:	GULABCHAND S/O TRIBHUVAN
ID Number:	S2533604F
Nationality:	SINGAPORE P.R.
Address:	99 Meyer Road #14-01 Sovereign, The Singapore 437920
Date of Change:	1989-1-1

Subsidiaries & Branches

Subject did not register any subsidiaries or branches, from other source we can not obtain the relevant information, either.

Manage Information

Core Management

Detailed Information of Management:

Name:	GUNVANTRAI JAGANNATH DOSHI
Position:	Manager
ID Number:	S1110708G
Address:	82 Jalan Daud #09-03 Windy Heights Singapore 419592
Nationality:	Singapore Citizen
Date of Appointment:	1970-2-25

Operation Information

Offices & Factories

	Office
Address:	77 High Street #04-04 High Street Plaza Singapore 179433, 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.

46411	Wholesale Of Textiles
47711	Retail Sale Of Wearing Apparel For Adults

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 disclose its financials citing the grounds of company’s confidentiality; from other source we can not obtain the relevant information, either.

Bankers

The bankers’ information is not available from the subject or other sources.

Interview Details

Name:

N/A

Notes:

A lady, answered the phone, declined to disclose her name

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.42
UK Pound	1	Rs.72.49
Euro	1	Rs.63.87

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.