MIRA INFORM REPORT

Report Date :

04.08.2012

IDENTIFICATION DETAILS

Name :	EVERGREET EXPRESS DEVELOPMENT CORP.

Registered Office :	1F, No.21-1, I-Chiang St., Taipei

Country :	Taiwan

Date of Incorporation :	29.05.1999

Com. Reg. No.:	70367070

Legal Form :	Joint Stock Company

Line of Business :	Import and trading of liquor and alcoholic beverage.

No. of Employees :	About 40 employees

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
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, 2012

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:	Evergreet Express Development Corp.
Supplied Name:	Evergreet Express Development Corp
Trading Address:	2F, No.53, Dec.2, Nanjimg E.Rd, Taipei Taiwan 10457, Taiwan
Supplied Address:	2F, No 53 Sec 2 Nanjing East Road Taipei
Telephone Number:	+886-2-25639966
Fax Number:	+886-2-25639488

Notes:

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

Credit Summary

Credit Opinion:

Business connections are permissible.

Company Identification Details

Registered Name:	Evergreet Express Development Corp.
Registered Address:	1F, No.21-1, I-Chiang St., Taipei, Taiwan, R.O.C.
Date of Foundation:	1999-5-29
Registration Number:	70367070
Registry:	Taipei City Government
Registered Capital:	NTD 110,000,000.00 (USD 3,725,590) (As of 2012.8, 1 NTD = 0.03387 USD)
Paid-up Capital:	NTD 110,000,000.00 (USD 3,725,590)
Legal Representatives:	Mingzhu Zhang
Legal Form:	Joint Stock Company
Principal Activities:	Import and trading of liquor and alcoholic beverage.
Staff:	About 40 employees
Listed at Stock Exchange:	No
Date of Last Annual Return:	2009-08-10

History

Subject was incorporated on 1999-05-29 with registered number 70367070 as Joint Stock Company in Taiwan.

Shareholders

(Unit: NTD)

Name	Subscription Amount
Mingzhu Zhang	8,190,000
Zhaocan Huang
1,500,000
Mai Zhang	10,000

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

Subsidiaries & Branches

Collection Shops:

1
Name:	Yi-Jiang Shop/ Taipei
Address:	No, 21-1, Yijiang St., Zhongshan District, Taipei, Taiwan
2
Name:	An-He Shop/Taipei
Address:	No.12, Sec. 2, Anhe Road, Daan District., Taipei, Taiwan
3
Name:	Breeze (Dean & Deluca) Shop/Taipei
Address:	B2, No. 39, Sec. 1, Fuxing S. Road, Songshan District, Taipei, Taiwan.
4
Name:	Breeze Station Shop/Taipei
Address:	2/F., No.3. Beiping W. Road, Zhongzheng District, Taipei, Taiwan.
5
Name:	Taisuco Shop/ Kaohsiung
Address:	B1, No. 60, Tuku 1^st Rd, Nanzi District, Kaohsiung, Taiwan.

Personnel Information

Core Management

Directors

1
Name	Mingzhu Zhang
Position	Board Chairman
2
Name	Zhaocan Huang
Position	Director
3
Name	Mai Zhang
Position	Supervisor

Personnel Structure

Total Employees

About 40 employees

Operation Information

Offices & Factories

	Headquarters
Add	2F, No.53, Dec.2, Nanjimg E.Rd, Taipei Taiwan 10457, Taiwan

Production Information

l Subject is a trader of liquor and alcoholic beverages without any production activities

Purchase Information

l The registered activities of subject:

Business Code	Details
F401010	International trading business
A302020	Fisheries service
JZ99050	Intermediary service industry
F601010	Intellectual property industry
F301030	General chain stores industry
F211010	Retail of building materials
F203020	Wholesales of cigarette and liquors

l The productions are all purchased from abroad.

Sales Information

l The subject is mainly engaged in sales of liquor and alcoholic beverages.

l Subject’s products include Bordeaux, Burgundy, Rhone Valley, Champagne, Languedoc-Roussillon, etc.

l Subject imports from U.K., Germany, France, Austria, Italy, etc.

l Subject’s major customers are individuals, catering enterprises, etc

l Subject only sells to local Taiwan markets.

Import and export right:

Import right	Yes
Export right	Yes

Settlements

Purchase

Domestic Purchase

Subject seldom purchases from domestic market.

Foreign Purchase

Product	Payment Terms	Proportion
Liquor and alcoholic beverage	CBD, etc	100%

Sales

Domestic Markets

Product	Sales Terms	Proportion
Liquor and alcoholic beverage	COD, etc	100%

Export

Subject does not export.

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 Ms. Wang 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

Ms. Wang

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.56.08
UK Pound	1	Rs.87.03
Euro	1	Rs.68.36

INFORMATION DETAILS

Report Prepared by :

MNL

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.