MIRA INFORM REPORT

Report Date :

06.08.2012

IDENTIFICATION DETAILS

Name :	Y.P.T. INTERNATIONAL LTD.
Registered Office :	1/F., New City Centre, 2 Lei Yue Mun Road, Kwun Tong, Kowloon
Country :	Hong Kong
Date of Incorporation :	17.08.1982
Com. Reg. No.:	07997931
Legal Form :	Private Limited Company
Line of Business :	Kitchen Project Contractor of all kinds of kitchen equipment, etc.
No. of Employees :	20

RATING & COMMENTS

MIRA’s Rating :

Ba

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)
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

Y.P.T. INTERNATIONAL LTD.

Company ADDRESS

1/F., New City Centre, 2 Lei Yue Mun Road, Kwun Tong, Kowloon, Hong Kong.

PHONE: 2717 1373; 2723 2168

FAX: 2739 7576

E-MAIL: local.ypt@techwin.com.hk

MANAGEMENT

Managing Director: Mr. Cheng Kam Shing

SUMMARY

Incorporated on: 17th August, 1982.

Organization: Private Limited Company.

Capital: Nominal: HK$613,000.00

Issued: HK$612,300.00

Business Category: Kitchen Project Contractor.

Employees: 20.

Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Banking Relation: Good.

Company ADDRESS

Registered Head Office:-

1/F., New City Centre, 2 Lei Yue Mun Road, Kwun Tong, Kowloon, Hong Kong.

Associated/Affiliated Companies:-

Yu Fu Bao Kitchenware Equipment (Shenzhen) Co. Ltd., China.

Yue Po (Canada) Co., Ltd., Vancouver Office, Canada.

Yue Po (Macau) Engineering Co. Ltd., Macau.

Yue Po Engineering Co., Ltd., Beijing Office, China.

Yue Po Engineering Co., Ltd., Chongqing Office, China.

Yue Po Engineering Co., Ltd., Guangzhou Branch, China.

Yue Po Engineering Co., Ltd., Haikou Office, China.

Yue Po Engineering Co., Ltd., Hong Kong. (Same address)

Yue Po Engineering Co., Ltd., Shanghai Branch, China.

Yue Po Engineering Co., Ltd., Toronto Office, Canada.

BUSINESS REGISTRATION NUMBER

07997931

COMPANY FILE NUMBER

0115475

MANAGEMENT

Managing Director: Mr. Cheng Kam Shing

CAPITAL

Nominal Share Capital: HK$613,000.00 (Divided into 613,000 shares of HK$1.00 each)

Issued Share Capital: HK$612,300.00

SHAREHOLDERS

(As per registry dated 17-08-2011)

Name		No. of shares
CHENG Kam Shing		275,535
WONG Tai Loi		275,535
CHENG Lam Shek		61,230
		––––––
	Total:	612,300 ======

DIRECTORS

(As per registry dated 17-08-2011)

Name (Nationality)	Address
WONG Tai Loi	Flat A, 2/F., Block 5, Richwood Park, 33 Lo Fai Road, Tai Po, New Territories, Hong Kong.
CHENG Lam Shek	Flat 6, 12/F., Block B, Hamden Court, 149 Hong Ning Road, Kwun Tong, Kowloon, Hong Kong.
WONG Ka Man	Flat J, 35/F., Block 1, LA Costa, 8 Po Tai Street, Ma On Shan, New Territories, Hong Kong.
CHENG Chi Hang	Flat B, 2/F., Block 5, Richwood Park, 33 Lo Fai Road, Tai Po, New Territories, Hong Kong.
CHENG Kam Shing	6/F., Cheeruse Court, 304 Prince Edward Road, Kowloon, Hong Kong.

SECRETARY

(As per registry dated 17-08-2011)

Name	Address	Co. No.
Terry Services Ltd.	14/F., Tak Sing Alliance Building,115 Chatham Road, Kowloon, Hong Kong.	1260290

HISTORY

The subject was incorporated on 17th August, 1982 as a private limited liability company under the Hong Kong Companies Ordinance.

Apart from these, neither material change nor amendment has been ever traced and noted.

OPERATIONS

Activities: Kitchen Project Contractor.

Lines: All kinds of kitchen equipment, etc.

Employees: 20.

Commodities Imported: Europe, China, US, Japan, etc.

Markets & Business Territories: Hong Kong, Macau, China, etc.

Terms/Sales: COD [or as per contracted] (for local buyers)

Terms/Buying: L/C, T/T, D/P (for foreign suppliers)

FINANCIAL INFORMATION

Nominal Share Capital: HK$613,000.00 (Divided into 613,000 shares of HK$1.00 each)

Issued Share Capital: HK$612,300.00

Mortgage or Charge (since 2004): (See attachment)

Profit or Loss: Making a small profit every year.

Condition: Keeping in a satisfactory manner.

Facilities: Making rather active use of general banking facilities.

Payment: Met trade commitments as required.

Commercial Morality: Satisfactory.

Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Standing: Normal.

GENERAL

Y.P.T. International Ltd. is jointly owned by three Hong Kong merchants, namely, Cheng Kam Shing, holding 45% interests; Wong Tai Loi, also 45%; Cheng Lam Shek, 10%.

The subject, established in 1982, is specialized in providing high quality stainless steel kitchen and catering equipment to hotels, restaurants and chain stores both locally and overseas. It is engaged in international marketing and trading. It is a key member of the Yue Po Group.

The subject carries the following commodities:-

Cookware (For hotel & catering, Commercial use), Cutlery & Flatware (For hotel & catering), Stove (For hotel & catering), Kitchen Utensils - Metal (For hotel & catering), Kitchen Utensils - Plastic (For hotel & catering), Kitchen Utensils - Wooden (For hotel & catering), Kitchen Utensils - Misc, Tableware - Glass (For hotel & catering), Tableware - Metal (For hotel & catering), Tableware - Plastic (For hotel & catering), Tableware - Porcelain / Ceramic / Stone (Ceramic for hotel & catering), Household Products - Misc, Bar Accessories (Bar & snack equipment), Wine Measure, Trolley, Kitchen Equipment - Commercial, Bibcock (Faucet), Shop Fittings & Equipment (Dim sum & dessert trolley, stainless steel trolley, mobile banquet cabinet), Shelf (Wire shelving), Machinery - Food Processing, Machine - For Bakery ( Electric Oven ), Refrigerator / Cooler (For hotel/catering include bar type small refrigerator), Packaging Materials - Metal, Packaging Materials - Paper, Tape - Adhesive , Paper, Tape - Adhesive , Plastic, Hotel / Catering Electrical Facility, Plastic Materials ( including Resins & Sheet ) (Include cooking/bakery equipment, water boiler & dispenser, cooling & ice making/food warming equipment, cleaning equipment, grease extraction ventilator), etc.

The subject supplies products that have undergone the strictest quality control procedures and are recognized by approval standards such as CCC, CQC, AGA, CGA, CSA and NSF. The subject is also importing many well-known brand names from all over the world. Its prime markets covers Southeast Asia, the Middle East, North America, Europe and even Africa.

The subject got the ISO9002 Certificate in 1999.

It has had its own showroom and demonstration room which are for customers to make selection and perform testing.

The subject is also the sole agent of many worldwide famous brand names such as LAMBER Dish Washing Machine, Convotherm Electric Combi Steamers, OLIS Western Cooking Range, CRYSTAL TIPS Icemaker, UGOLINI Beverage Cooler, etc.

The subject also provides customers with after-sale services. For over a decade, the subject has maintained its leading position in both the local and overseas market.

Besides marketing in Hong Kong and China, the subject’s products are exported to Australasia, China, the Middle East, North America, Southeast Asia, Taiwan, Western Europe, etc.

Yue Po’s production centre is in Shenzhen Special Economic Zone China known as Yu Fu Bao Kitchenware Equipment (Shenzhen) Co. Ltd. [Shenzhen Yu Fu Bao]. Shenzhen Yu Fu Bao has 20,000 square meters of floor area and has got over ten production lines. Currently, it has over 1,000 employees.

Yue Po got ISO9001 certificate in 2000. It also has got other certifications such as CSA, AGA, CGA, NSF, etc.

The annual sales turnover of Yue Po is rather significant. It has contracted a number of large projects in Hong Kong and China.

The subject’s business is chiefly administered by Mr. Cheng Kam Shing who is the Chairman of Yue Po.

As the history of the subject is about 30 years in Hong Kong, on the whole, consider it good for normal business engagements.

MORTGAGE OR CHARGE

(Since 2004)

Date	Particulars	Amount
24-09-2004	Instrument: Security Over Deposits Property: A deposit with chargee in the amount of HK$1,000,000 under deposit A/C No. 580-039881, whatever currency it may subsequently be denominated in, any renewal of such deposit and the interest thereon together with any further monies in any deposit account with the chargee at any of its offices. Mortgagee: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.	All monies
02-11-2004	Instrument: Mortgage Property: 9/148 part or shares of and in Kowloon Inland lot No. 10079 and 10181 (Shop A2, A3, A4 and A5 on G/F., of Ka Shun House, Kowloon). and 4/148 part or shares of and in Kowloon Inland Lot Nos. 10079 and 10181 (offices D and E on 1/F., of Ka Shun House, Kowloon). Mortgagee: Belgian Bank, Hong Kong Branch.	All moneys

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.