MIRA INFORM REPORT

Report Date :

20.04.2012

IDENTIFICATION DETAILS

Name :	MING YI PLASTIC MACHINERY CO., LTD.

Registered Office :	No.52, Lane 105, Sec.2, Pei Kang Rd., Tai Po Hsiang Chia Yi Hsien Taiwan R.O.C.

Country :	Taiwan

Date of Incorporation :	22.01.1990

Com. Reg. No.:	23553812

Legal Form :	Joint Stock Company

Line of Business :	Manufacture and trade of plastic machinery.

No. of Employees :	Not Available

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 40,000
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, 2011

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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:	Ming Yi Plastic Machinery Co., Ltd.
Supplied Name:	Ming YI Plastics Machinery Co Ltd
Trading Address:	No.52, Lane 105, Sec.2, Pei Kang Rd., Tai Po Hsiang Chia Yi Hsien Taiwan R.O.C.
Supplied Address:	No. 52 Lane 105 Sec 2, Peikang Road, Nan Sin Li, Taipao City Chiayi Hsien
Telephone Number:	+886-5-237-1178 / 237-1598
Fax Number:	+886-5-237-1579

Notes:

The exact registered name is as above.

The exact address is as above.

Credit Summary

Credit Rating:	Maximum credit USD 40,000
Credit Opinion:	Business connections are permissible.

Company Identification Details

Registered Name:	Ming Yi Plastic Machinery Co., Ltd.
Registered Address:	No.52, Lane 105, Sec.2, Pei Kang Rd., Tai Po Hsiang Chia Yi Hsien Taiwan R.O.C.
Date of Foundation:	1990-1-22
Registration Number:	23553812
Registry:	MOEA Central Office
Registered Capital:	NTD 12,500,000 (USD 423,079) (As of 2012.4, 1 NTD = 0.03385 USD)
Paid-up Capital:	NTD 12,500,000 (USD 423,079)
Legal Representatives:	Shuzhen Wang
Legal Form:	Joint Stock Company
Principal Activities:	Manufacture and trade of plastic machinery.
Staff:	N/A
Listed at Stock Exchange:	No
Date of Last Annual Return:	2012-1-10

Note:

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

History

Subject was incorporated on 1990-1-22 with registered number 23553812 as Joint Stock Company in Taiwan.

Shareholders

Name	Subscription Shares
Shuzhen Wang	125,000
Ruirong Huang
937,500
Muquan Lv	125,000
Fangsong Huang	31,250

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	Shuzhen Wang
Position	Board of Chairman
2
Name	Ruirong Huang
Position	Director
3
Name	Muquan Lv
Position	Director
4
Name	Fangsong Huang
Position	Supervisor

Operation Information

Offices & Factories

	Headquarters
Add	No.52, Lane 105, Sec.2, Pei Kang Rd., Tai Po Hsiang Chia Yi Hsien Taiwan R.O.C.

Production Information

Subject is a manufacturer of plastic machinery with the production activities

Purchase Information

The registered activities of subject:

Business Code	Details
1	Manufacture, process and trade of plastic machinery
2	Import and export of the products above.

The components and raw material for production are mostly purchased from local.

Sales Information

Subject is mainly engaged in manufacturing and trading of plastic machinery and the related products.

Subject introduced that its major products sold as following:

	Product
1	Fruits Nets Stretched Nets Making Machine
2	Bath Net Balls Nets Making Machine
3	Fully-Auto Net Bag Bottom Sealing Machine
4	Kitchen Filters Nets Making Machine
5	Multi-purpose diamond flat nets making machine
6	Multi-purpose square flat nets making machine
7	Cylinder net pipe making machine
8	Others

Subject’s selling territory covers all over the world.

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 Mr. Zhang 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.

Interview Details

Name

Mr. Zhang

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.51.89
UK Pound	1	Rs.83.18
Euro	1	Rs.68.06

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.