MIRA INFORM REPORT

Report Date :

16.04.2012

IDENTIFICATION DETAILS

Name :	B.I. INTERNATIONAL LTD.
Formerly Known As :	BTC Clothier Ltd.
Registered Office :	c/o Integrated Financial Services Ltd., 11/F., Dah Sing Life Building, 99 Des Voeux Road Central
Country :	Hong Kong
Date of Incorporation :	28.06.1994
Com. Reg. No.:	18508915
Legal Form :	Private Limited Liability Company
Line of Business :	Garment Trader
No. of Employees :	Not Available

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 in Hong Kong
Payment Behaviour :	Unknown
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, 2012

Country Name	Previous Rating (31.12.2011)	Current Rating (31.03.2012)
Hong Kong	a2	a2

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

Company name

B.I. INTERNATIONAL LTD.

Company ADDRESS

Registered Office:-

c/o Integrated Financial Services Ltd.

11/F., Dah Sing Life Building, 99 Des Voeux Road Central, Hong Kong. [Tel: 2522 9115; Fax: 2845 2423]

Holding Company:-

Brand Corporation, British Virgin Islands.

Associated Company:-

Kendall Pacific Ltd., Hong Kong. (Same address)

BUSINESS REGISTRATION NUMBER

18508915

COMPANY FILE NUMBER

0483316

DATE OF INCORPORATION

28th June, 1994.

CAPITAL

Nominal Share Capital: HK$100,000.00 (Divided into 100,000 shares of HK$1.00 each)

Issued Share Capital: HK$100,000.00

Alternation of Capital:-

28-06-1994	paid up	HK$ 2.00
21-07-1994	paid up	HK$ 98.00
22-07-1994	paid up	HK$ 99,900.00
		––––––––––––––
Total:	paid up	HK$ 100,000.00 ============

SHAREHOLDERS

(As per registry dated 28-06-2011)

Name		No. of shares
BTC International Ltd. Columbus Centre Building, Wickhams Cay, Road Town, Tortola, British Virgin Islands.		1
Brand Corporation Columbus Centre Building, Wickhams Cay, Road Town, Tortola, British Virgin Islands.		99,999
		–––––––
	Total:	100,000 ======

DIRECTORS

(As per registry dated 28-06-2011)

Name (Nationality)	Address
Rolando B. JAPLOS (Filipino)	5/F., Block 32, Baguio Villa, 555 Victoria Road, Pokfulam, Hong Kong.
Arnold Leyva SIMON	5/F., Block 32, Baguio Villa, 555 Victoria Road, Pokfulam, Hong Kong.

SECRETARY

(As per registry dated 28-06-2011)

Name	Address	Co. No.
Intercorp Services Ltd.	11/F., Dah Sing Life Building, 99 Des Voeux Road Central, Hong Kong.	0137089

GENERAL

B.I. International Ltd. was incorporated on 28th June, 1994 as a private limited liability company under the Hong Kong Companies Ordinance.

Originally the subject was registered under the name of Excel Associates Ltd., name changed to BTC Clothier Ltd. on 2nd August, 1994. The present name has been adopted since 19th December, 1997.

The subject has changed its directors for several times. The following table shows the changes of the board of directors in chronological order:-

Name	Date appointed	Date resigned
LIEW Yam Ngoon	28-06-1994	31-08-1995
YONG Soon Hian	28-06-1994	31-08-1995
Francisco C. SEBASTIAN	31-08-1995	14-10-2003
Rolando B. JAPLOS	31-08-1995	-
Michael V. POLICARPIO	14-10-2003	07-08-2008
Arnold Leyva SIMON	07-08-2008	-

The subject does not have its own operating office. Its registered office is in the operating office of a commercial service provider. Your given phone number 852-2522 9115 and fax number 852-2845 2423 belong to the commercial service firm.

Formerly the subject’s registered office was in the office of TrustNet (H.K.) Ltd. which is located at Room 26, 2/F., New Henry House, 10 Ice House Street, Central, Hong Kong. Moved to Room 701, United Chinese Bank Building, 31-37 Des Voeux Road Central, Hong Kong in July 1994 due to the change of its corporate secretary. In December 1998, the corporate secretary Integrated Financial Services Ltd. moved to 11/F., Dah Sing Life Building, 99 Des Voeux Road Central, Hong Kong where is the heading address. Accordingly the subject also moved to the present address. Integrated Financial Services Ltd. is a commercial and financial service provider.

The subject has no employees in Hong Kong.

Having issued 100,000 ordinary shares of HK$1.00 each, the subject is a wholly‑owned subsidiary of Brand Corporation which is a BVI‑registered firm.

The subject’s documents and correspondences are handled by the commercial service company which declined to provide us any information on the subject.

To our knowledge, the subject is a garment trader. It has had an associated company Kendall Pacific Ltd. [Kendall] which is also operated by Rolando B. Japlos. Kendall is a garment and fashion trader, so does the subject. The registered address of Kendall is also in the operating address of Integrated Financial Services Ltd.

Incorporated on 19th March, 2004, Kendall has had an office in Shanghai, China. It has got associated factories in Shanghai engaged in manufacturing all kinds of man’s suits. Wal-Mart is one of its main business partners.

The subject’s business is handled by the directors Rolando B. Japlos who is residing in Hong Kong most of the time.

The subject’s business in Hong Kong is not active. History in Hong Kong is over seventeen years and nine 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.51.42
UK Pound	1	Rs.81.93
Euro	1	Rs.67.67

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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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.