MIRA INFORM REPORT

Report Date :

03.04.2012

IDENTIFICATION DETAILS

Name :	LAI CHANG INDUSTRIAL CORPORATION
Registered Office :	2f., No.2-4, Lane 23, Ha Mi St., Taipei
Country :	Taiwan
Date of Incorporation :	08.02.1980
Com. Reg. No.:	07648691
Legal Form :	Joint Stock Company
Line of Business :	Manufacture and trade of components
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B

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

Maximum Credit Limit :	USD 20,000
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 – September 30^th, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
Taiwan	a2	a2

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

Contact Points

Company Name:	Lai Chang Industrial Corporation
Supplied Name:	Lai Chang Industrial Corp
Trading Address:	2f., No.2-4, Lane 23, Ha Mi St., Taipei, Taiwan, R.O.C
Supplied Address:	2F Number 2-4 Lane 23 Hami St Taipei
Telephone Number:	+886 2-25925298

Notes:

The supplied name is incomplete, and the exact name is as above.

Credit Summary

Credit Rating:	Maximum credit USD 20,000
Credit Opinion:	Business connections are permissible.

Special Note

According to the supplied name and address, we found a telephone number of subject (+886 2-25925298), and a staff of subject answered the phone, but she refused to disclose any details information about subject.

The registration files show that subject is engaged in manufacturing, processing and trading of machinery’s components and the related products, since subject declined to confirm the information, we can not confirm the information.

We found subject’s registration information as follows for reference.

Company Identification Details

Registered Name:	Lai Chang Industrial Corporation
Registered Address:	2f., No.2-4, Lane 23, Ha Mi St., Taipei Taiwan
Date of Foundation:	1980-2-8
Registration Number:	07648691
Registry:	Taipei City Government
Registered Capital:	NTD5,000,000 (USD 168,945) (As of 2012.3, 1 NTD = 0.03379 USD)
Paid-up Capital:	NTD5,000,000 (USD 168,945)
Legal Representatives:	Guoan Li
Legal Form:	Joint Stock Company
Principal Activities:	Manufacture and trade of components.
Staff:	N/A
Listed at Stock Exchange:	No
Date of Last Annual Return:	1991-2-8

Note:

Subject declined to disclose the staff number, and from other sources, we couldn’t obtain the information, either.

History

Subject was incorporated on 1980-2-8 with registered number 07648691 as Joint Stock Company in Taiwan.

Shareholders

Name	Subscription Shares
Guoan Li	2,500
Zhimeng Jiang
450
Qiumei Jiang	450
Huimei Jiang	450

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

Subsidiaries & Branches

Subject did not register any subsidiaries or branches, from other source we can not obtain the relevant information, either.

Personnel Information

Core Management

Directors

1
Name	Guoan Li
Position	Board of Chairman
2
Name	Zhimeng Jiang
Position	Director
3
Name	Qiumei Jiang
Position	Director
4
Name	Huimei Jiang
Position	Supervisor

Operation Information

Offices & Factories

	Headquarters
Add	2f., No.2-4, Lane 23, Ha Mi St., Taipei, Taiwan, R.O.C

Operation Information

l The registered activities of subject:

Business Code	Details
1	General import and export
2	Manufacture, process and trade of textile machines and components
3	Manufacture, process and trade of hardware components
4	Trade of electronic components

Import and export right:

Import right	Yes
Export right	Yes

Settlements

Subject declined to disclose the settlements information, and from other sources, we couldn’t obtain the information, either.

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

The bankers’ information is not available from the subject or other sources.

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.

Note

The staff of subject declined to disclose her name.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.51.16
UK Pound	1	Rs.81.79
Euro	1	Rs.68.34

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.