MIRA INFORM REPORT

Report Date :

10.11.2011

IDENTIFICATION DETAILS

Name :	ASIACHEM INDUSTRIAL LIMITED

Registered Office :	3f, 2# Building, No. 80, Huashen Road, Shanghai, 200131 Pr

Country :	China

Date of Incorporation :	14.08.2006

Com. Reg. No.:	1066865

Legal Form :	Private company with Limited Liability

Line of Business :	International Trade

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	Dissolved

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 – September 30^th, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

China

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

Company name & address

ASIACHEM INDUSTRIAL LIMITED

3F, 2# BUILDING, NO. 80, HUASHEN ROAD, SHANGHAI, 200131 PR CHINA

TEL: 86 (0) 21-51879881 FAX: 86 (0) 21-51685906

Alert report:

This refers to a type of report whose format is different from that of a standard report. Such type of report is provided when:

l Information obtained is insufficient for compiling a standard report.

l The enquired co has been out of business or its business address has been untraceable.

It should be noted that the time and manpower spent on preparing such type of report might be greater than those on a standard report. On many occasions, the information in this type of report still indicates the current status of the enquired co. and serves as a useful reference to assess its credit standing.

Client did not give any telephone number of SC.

From the internet sources, we found SC’s telephone number (The above given one) and SC’s website http://www.asiach.com.cn

We dialed the number, a gentleman answered. He admitted the given English name. He also released the following information of SC:

SC is registered in Hong Kong, and its Chinese name is亚化实业有限公司.

SC is mainly engaged in international trade.

Email: arthur@gyperfume.com

The address client given is:

Room 8401A, JBC, No. 0808 Hongqiao Road, Shanghai China

According to the above gentleman, the given address was the former one, and SC’s current operating address should be the heading one.

According to the Chinese name released by the above gentleman, careful investigations were made with Shanghai Municipal Administration for Industry and Commerce (AIC - The official body of issuing and renewing business license), but no record was found.

In HK Company Registry, we found the following registration information on SC:

Asiachem Industrial Limited

=======================

Registration no.: 1066865

Registered legal form: private

Incorporation date: 2006-8-14

Status: Dissolved

Date of dissolution: 2011-10-21

SC was established on Aug. 14, 2006 in Hong Kong and dissolved in Oct. of 2011. Considering the above investigation results, great caution is required in providing credit to SC and no credit dealings with SC can be recommended.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.78
UK Pound	1	Rs.80.11
Euro	1	Rs.68.82

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.

Company name & address

Unit