MIRA INFORM REPORT

Report Date :

17.05.2011

IDENTIFICATION DETAILS

Name :	TAI PING CREATION LTD.
Registered Office :	C/o Characters Corporate Services Ltd. Unit A, 28/F., CNT Tower, 338 Hennessy Road, Wanchai
Country :	Hong Kong
Date of Incorporation :	16.06.2009
Com. Reg. No.:	51185421
Legal Form :	Private Limited Liability Company
Line of Business :	--

RATING & COMMENTS

MIRA’s Rating :

Ca

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 :	No Operating Office
Payment Behaviour :	--
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 – December 31, 2010

Country Name	Previous Rating (30.09.2010)	Current Rating (31.12.2010)
Hong Kong	A2	A2

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

Name and address

TAI PING CREATION LTD.

ADDRESS:

Registered Office:-

c/o Characters Corporate Services Ltd.

Unit A, 28/F., CNT Tower, 338 Hennessy Road, Wanchai, Hong Kong.

[Tel: 2116 1199; Fax: 2116 1232]

(Formerly located at:

c/o Characters Corporate Services Ltd.

Unit B1, 9/F., Loyong Court Commercial Building,

212-220 Lochart Road, Wanchai, Hong Kong. )

BUSINESS REGISTRATION NUMBER

51185421

COMPANY FILE NUMBER

1345818

DATE OF INCORPORATION

16th June, 2009.

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

SHAREHOLDERS

(As per registry dated 16-06-2010)

Name		No. of shares
Traian Valeriu DASCALU		5,000
Claudiu DASCALU		5,000
		––––––
	Total:	10,000 =====

DIRECTORS

(As per registry dated 16-06-2010)

Name (Nationality)	Address
Traian Valeriu DASCALU	Mun. Tirgoviste Jud. Dimbovita Cal. Ploiesti bl. L2A ap. 19, Romania.
Claudiu DASCALU	Ors. Otopeni Jud. Ilfov Str. I .I. C. Bratianu nr. 10G, Romania.

SECRETARY

(As per registry dated 23-02-2011)

Name	Address	Co. No.
Characters Secretarial Services Ltd.	Unit A, 28/F., CNT Tower, 338 Hennessy Road, Wanchai, Hong Kong.	1554427

GENERAL

Tai Ping Creation Ltd. was incorporated on 16th June, 2009 as a private limited liability company under the Hong Kong Companies Ordinance.

The subject does not have its own operating office. Its registered office is in a commercial service firm located at Unit A, 28/F., CNT Tower, 338 Hennessy Road, Wanchai, Hong Kong known as Characters Corporate Services Ltd. which is handling its correspondences and documents. The associated company of Characters Corporate Services Ltd., Characters Secretarial Services Ltd., is the corporate secretary of the subject.

Formerly Characters Corporate Services Ltd. was located at Unit B1, 9/F., Loyong Court Commercial Building, 212-220 Lochart Road, Wanchai, Hong Kong, moved to the present address with effect from 23rd February, 2011, so did the subject.

The subject has no employees in Hong Kong.

According to the Companies Registry of Hong Kong, the subject has issued 10,000 ordinary shares of HK$1.00 each which are equally owned by Mr. Traian Valeriu Dascalu and Mr. Claudiu Dascalu. The two Dascalus are also directors of the subject. Currently, they are residing in Romania.

The subject’s lines of business are unknown since the secretarial firm declined to divulge any information about it. The director of the subject cannot be reached as they are in Romania.

Your given phone number 86-615101114476 seems to be a China line. It is a mobile phone number but there are 12 numbers after 86. The correct style should be 10 numbers after 86.

To our knowledge, Traian Valeriu Dascalu is working in a National Research Institute in Romania which is involved in research on laser, plasma and radiation physics. The institute is interested in laser construction, application of lasers, applications of hot and cold plasma, electron accelerators and their applications. It is likely that Traian Valeriu Dascalu has had an associated factory in China engaged in manufacturing electronic products. However, details are unknown.

It is likely that the China firm 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 China firm also exports commodities to foreign markets under the name of the subject and its registered address in Hong Kong.

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.45.07
UK Pound	1	Rs.72.97
Euro	1	Rs.63.57

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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