MIRA INFORM REPORT

Report Date :

03.09.2011

IDENTIFICATION DETAILS

Correct Name :	G-HONG TRADING CO., LTD.

Registered Office :	No.58-6, Zhenzheng Rd., Dajia Dist., Taichung City 437

Country :	Taiwan

Date of Incorporation :	15.10.1996

Com. Reg. No.:	84559063

Legal Form :	Joint Stock Company

Line of Business :	Manufacture and sales of footwear

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 30,000

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)

Taiwan

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

Contact Points

Company Name:	G-Hong Trading Co., Ltd.
Supplied Name:	Fortune World Co Ltd
Trading Address:	1-1 Nan Pei 1st Roadtachia Chen Taichung Hsien 437xxx, Taiwan
Supplied Address:	1-1 Nan Pei 1st Roadtachia Chen Taichung Hsien 437xxx, Taiwan
Telephone Number:	+886-4-26882566
Fax Number:	+886-4-26883489
E-mail:	jane.wu@genfort.com.tw

Notes: Subject’s exact name and address are as above and the supplied name also belongs to subject and it is introduced that the supplied name is always used in the international trading of subject.

Credit Summary

Credit Rating:	Maximum credit USD 30,000
Credit Opinion:	Business connections are permissible.

Company Identification Details

Registered Name:	G-HONG TRADING CO., LTD.
Registered Address:	No.58-6, Zhenzheng Rd., Dajia Dist., Taichung City 437, Taiwan (R.O.C.)
Date of Foundation:	1996-10-15
Registration Number:	84559063
Registry:	MOEA Central Office
Registered Capital:	NTD 24,720,000 (USD 860,256) (As of 2011.07, 1 NTD = 0.0348 USD)
Paid-up Capital:	NTD 24,720,000 (USD 860,256)
Legal Representatives:	Zhaoxiong Li
Legal Form:	Joint Stock Company
Principal Activities:	Manufacture and sales of footwear
Staff:	N/A
Listed at Stock Exchange:	No
Date of Last Annual Return:	2010-11-19

Notes: Subject did not introduce its staff information; from other source we can not obtain the relevant information, either.

History

Subject was incorporated on 1996-10-15 with registered number 84559063 as Joint Stock Company in Taiwan.

Awards

Year	Awards
2007	Blue chip importer and exporter
2008	Blue chip importer and exporter
2009	Blue chip importer and exporter

Standard of Blue chip importer and exporter

Unit: USD

Year	Amount
2007	18,000,000
2008	19,000,000
2009	15,000,000

Shareholders

Name	Subscription Shares
Zhaoxiong Li	92,744
Zhenjun Yang
12,115
Jiahe Tong	34,289
Chaojia Cai	108,689
Jiquan Cai	108,689
Ronggui Cai	36,756
Kunlie Cai	20,556
Xinmin Chen	62,686
Chaozhi Cai	70,289
Jialong Tong	12,000

The information above is that of subject’s major shareholders.

Subsidiaries & Branches

Factory:

Address:

Zhongshan, Guangdong, China

Personnel Information

Core Management

Directors

1
Name	Zhaoxiong Li
Position	Board Chairman
2
Name	Zhenjun Yang
Position	Director
3
Name	Jiahe Tong
Position	Director
4
Name	Chaojia Cai
Position	Director
5
Name	Jiquan Cai
Position	Director
6
Name	Ronggui Cai
Position	Director
7
Name	Kunlie Cai
Position	Director
8
Name	Xinmin Chen
Position	Director
9
Name	Chaozhi Cai
Position	Director
10
Name	Jialong Tong
Position	Supervisor

Operation Information

Offices & Factories

	Headquarters
Add	1-1 Nan Pei 1st Roadtachia Chen Taichung Hsien 437xxx, Taiwan

Production Information

l Subject’s factory is engaged in production of footwear.

Purchase Information

l The registered activities of subject:

1	General import and export trading business (Besides licensed business)
2	Agent, price quoting and bidding service of products for the domestic and overseas manufacturers about the above mentioned items

l Subject did not introduce its purchasing information.

Sales Information

l The subject is mainly engaged in sales of footwear.

l Subject’s products are both sold in domestic and overseas market.

l It is introduced that subject serves specific brands, while the details are not disclosed.

Import and export right:

Import right	Yes
Export right	Yes

Settlements

Purchase

Subject did not introduce its purchasing information.

Sales

Domestic Markets

Product	Sales Terms	Proportion
Footwear	CBD, etc	100%

Export

Product	Sales Terms	Proportion
Footwear	CBD, etc	100%

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

Subject declined to disclose its bank details; from other source we can not obtain the relevant information, either.

Public Record

Mortgage

No chattel mortgage record of subject has been found within the recent 3 months.

Lawsuit

Up to date of reporting, no existing or latent litigation of the subject has been found.

Interview Details

Name

N/A

Notes: Subject’s staff declined to disclose her name.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.89
UK Pound	1	Rs.74.31
Euro	1	Rs.65.40

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.