MIRA INFORM REPORT

Report Date :

04.06.2011

IDENTIFICATION DETAILS

Name :	MAGNETONE SINGAPORE PTE LTD

Registered Office :	50 Genting Lane #05-03/04 Cideco Industrial Complex Singapore 349558

Country :	Singapore

Date of Incorporation :	29.08.2001

Com. Reg. No.:	200105725E

Legal Form :	Private Limited Liability Company

Line of Business :	Sales of Computer And Office Equipment Consumables and Computer Accessories

RATING & COMMENTS

MIRA’s Rating :

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

Maximum Credit Limit :	USD 40,000
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

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:	Magnetone Singapore Pte Ltd
Supplied Name:	Magnetone Singapore Pte Ltd.
Trading Address:	50 Genting Lane, #05-03/04/05 Cideco Industrial Complex, Singapore 349558, Singapore
Supplied Address:	50 Genting Lane, #05-03/04/05 Cideco Industrial Complex, Singapore 349558, Singapore
Telephone Number:	+65-6746-0668

Credit Summary

Credit Rating:	Maximum credit USD 40,000
Credit Opinion:	Business connections are permissible

Company Identification Details

Registered Name:	Magnetone Singapore Pte Ltd
Registered Address:	50 Genting Lane #05-03/04 Cideco Industrial Complex Singapore 349558
Date of Registration::	2001-8-29
Registered Number:	200105725E
Country of Incorporation:	Singapore
Registered Capital:	SGD 200,000 (USD 162,020) (As of 2011.05, 1 SGD = 0.8101 USD)
Paid-up Capital:	SGD 200,000 (USD 162,020) = 200,000 Shares@1 SGD
Legal Form:	Private Limited Liability Company
Principal Activities:	Sales of Computer And Office Equipment Consumables and Computer Accessories
Staff:	More than 10 Employees
Status:	Live Company
Listed at Stock Exchange:	No
Date of Last Annual Return:	2010-7-30

History

Subject was incorporated on 2001-8-29 with registered number 200105725E as Private Limited Liability Company in Singapore.

Shareholders

Unit: SGD

Name	Subscription Amount	Proportion of Investment (%)
Yap Kiat Fah	70,000	35%
Yap Sow Chan	60,000	30%
Lee Lai Ling	20,000	10%
Ng Li Li	50,000	25%
Total	200,000	100%

Major Shareholder Information:

1
Name:	Yap Kiat Fah
Value:	SGD 70,000
ID Number:	A11242454
Address:	600 Jalan Baiduri 9, Taman Chip Aik 70200 Seremban, Malaysia
Nationality:	Malaysian
2
Name:	Yap Sow Chan
Value:	SGD 60,000
ID Number:	A97659464
Address:	600 Jalan Baiduri 9 Taman Chip Aik 70200 Seremban West Malaysia
Nationality:	Malaysian
3
Name:	Lee Lai Ling
Value:	SGD 20,000
ID Number:	L4515177
Address:	2 Sorrel Crescent, Warranwood 3134, Victoria, Australia
Nationality:	Australian
4
Name:	Ng Li Li
Value:	SGD 50,000
ID Number:	S1762038Z
Address:	223 Bishan Street 23 #09-133 Singapore 570223
Nationality:	Singapore Citizen

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:

1
Name:	Yap Kiat Fah
Position:	Director
ID Number:	A11242454
Address:	600 Jalan Baiduri 9, Taman Chip Aik 70200 Seremban, Malaysia
Nationality:	Malaysian
Date of Appointment:	2001-9-6
2
Name:	Yap Sow Chan
Position:	Director
ID Number:	A9765946
Address:	600 Jalan Baiduri 9 Taman Chip Aik 70200 Seremban West Malaysia
Nationality:	Malaysian
Date of Appointment:	2001-9-6
3
Name:	Ng Li Li
Position:	Director
ID Number:	S1762038Z
Address:	223 Bishan Street 23 #09-133 Singapore 570223
Nationality:	Singapore Citizen
Date of Appointment:	2001-8-29
4
Name:	Ng Li Li
Position:	Secretary
ID Number:	S1762038Z
Address:	223 Bishan Street 23 #09-133 Singapore 570223
Nationality:	Singapore Citizen
Date of Appointment:	2004-10-1

Personnel Structure

Total Employees

More than 10 Employees

Operation Information

Offices & Factories

	Office
Address:	50 Genting Lane, #05-03/04/05 Cideco Industrial Complex, Singapore 349558, Singapore

Purchase

l The company purchases Computer and Office Equipment Consumables and Computer Accessories.

l The subject purchases both from domestic markets and foreign markets.

Sales Information

l The subject is engaged in sales of Computer and Office Equipment Consumables and Computer Accessories.

l The subject sells products around the world.

Settlements

Purchase

Domestic Markets

Products	Payment Terms	Proportion
Computer and Office Equipment Consumables and Computer Accessories	COD, etc	100%

Overseas Markets

Products	Payment Terms	Proportion
Computer and Office Equipment Consumables and Computer Accessories	CBD, etc	100%

Sales

Domestic Markets

Product	Sales Terms	Proportion
Computer and Office Equipment Consumables and Computer Accessories	CBD, etc	100%

Overseas Markets

Product	Sales Terms	Proportion
Computer and Office Equipment Consumables and Computer Accessories	CBD, etc	100%

Financial Figures

Year	Sales
2010	About USD 4,000,000

Notes: The information is from introduction of subject.

Bankers

Open Account Bank

Name:

DBS Bank

Auditors

Name:

Chee Fm & Associates

Public

Charges

No charges information was found from public files.

Interview Details

Name:

Ng Li Li

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.85
UK Pound	1	Rs.73.29
Euro	1	Rs.64.89

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.