MIRA INFORM REPORT

Report Date :

09.11.2011

IDENTIFICATION DETAILS

Name :	SHREE EXIM

Registered Office :	4/F., Kimberley Mansion, 15 Austin Avenue, Tsimshatsui, Kowloon

Country :	Hong Kong

Date of Incorporation :	06.01.2010

Com. Reg. No.:	51642798-000-01

Legal Form :	Sole Proprietorship

Line of Business :	----

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 :	Moderate

Payment Behaviour :	Unknown

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 – September 30^th, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Hong Kong

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

Company name

SHREE EXIM

company ADDRESS

Registered Office:-

4/F., Kimberley Mansion, 15 Austin Avenue, Tsimshatsui, Kowloon, Hong Kong.

BUSINESS REGISTRATION NUMBER

51642798-000-01

ESTABLISHMENT

6th January, 2010.

SOLE PROPRIETOR

Name: Mr. Shiv Kumar BAHETY

Residential Address: Zimlyanoy Val-51/16, Entrance-1, Flat No. 6, Moscow, Russia.

GENERAL

Shree Exim was established on 6th January, 2010 as a sole proprietorship owned by Mr. Shiv Kumar Bahety under the Hong Kong Business Registration Regulations. Bahety is an Indian who is an India passport holder and does not have the right to reside in Hong Kong permanently. Currently, he is residing in Moscow, Russia. Bahety is the Manager of the subject.

The subject’s telephone number and fax number have not registered with local telephone company nor listed on telephone directories.

The subject does not have its own operating office. Its registered address is in a private building located at 4/F., Kimberley Mansion, 15 Austin Avenue, Tsimshatsui, Kowloon, Hong Kong. This is supposed to be the residence of Bahety when he is in Hong Kong. The residential building is not trespassed by outsiders. The subject has no employees in Hong Kong.

Your given phone number 852-2424 2477 belongs to a firm known as Fortune Exim which is located at 16/F., Oriental Crystal Finance Centre, 107‑109 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong. The owner of this firm is Mr. Nimish Chandak. It is likely that the subject and Fortune Exim are engaged in the same lines of business.

Currently, Fortune Exim is engaged in supplying “A” grade yarns from India, Pakistan, China, Indonesia, Vietnam, Canada, Turkey, Dubai. Specifications of the yarns range from NE 4/1 to 120/1 (multiple ply possible). Prime markets are China, Japan, South Korea, etc.

It is likely that the subject also trades in yarns. Most of the yarns are sourced from India while the prime market is Russia.

It is likely that the subject has got an associated company in Russia which is also operated by Bahety. The Russia firm is also a yarn trader.

The Russia 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 Russia 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 active. History in Hong Kong is just over a year and ten months.

Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on secured basis.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.38
UK Pound	1	Rs.79.20
Euro	1	Rs.67.84

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