MIRA INFORM REPORT

Report Date :

10.08.2012

IDENTIFICATION DETAILS

Name :	ARAICO ENTERPRISE CO., LTD.

Registered Office :	No.3, Ln. 223, Dazhi Rd., Niaosong Dist., Kaohsiung City 833, Taiwan (R.O.C.)

Country :	Taiwan

Date of Incorporation :	26.12.1986

Com. Reg. No.:	22259925

Legal Form :	Limited Liability Company

Line of Business :	Trader of mechanical equipment and parts, etc

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

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 – 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:	Araico Enterprise Co., Ltd.
Supplied Name:	Araico Enterprise Co Ltd.
Trading Address:	No.3, Ln. 223, Dazhi Rd., Niaosong Dist., Kaohsiung City 833, Taiwan (R.O.C.)
Supplied Address:	No. 3, Lane 223, Dazhi Road, Niaosong District, Kaohsiung 833 Taiwan
Telephone Number:	+886-7-731-0018
Fax Number:	+886-7-731-0019
E-mail:	araico@ms23.hinet.net

Company Identification Details

Registered Name:	Araico Enterprise Co., Ltd.
Registered Address:	No.3, Ln. 223, Dazhi Rd., Niaosong Dist., Kaohsiung City 833, Taiwan (R.O.C.)
Date of Foundation:	1986-12-26
Registration Number:	22259925
Registry:	Economic Development Bureau, Kaohsiung City
Registered Capital:	NTD 5,000,000 (USD 166,500) (As of 2012.08, 1 NTD = 0.0333 USD)
Legal Representatives:	Jiayi Wu
Legal Form:	Limited Liability Company
Principal Activities:	Trader of mechanical equipment and parts, etc
Staff:	N/A
Listed at Stock Exchange:	No
Date of Last Annual Return:	2012-4-12

Note: Subject declined to disclose its staff number; from other source we cannot obtain the relevant information, either.

History

Subject was incorporated on 1986-12-26 with registered number 22259925 as Limited Liability Company in Taiwan.

Shareholders

(Unit: NTD)

Name	Subscription Amount
Jiayi Wu	3,000,000

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

Subsidiaries & Branches

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

Personnel Information

Core Management

Directors

Name	Jiayi Wu
Position	Director

Operation Information

Offices & Factories

	Headquarters
Add	No.3, Ln. 223, Dazhi Rd., Niaosong Dist., Kaohsiung City 833, Taiwan (R.O.C.)

Production Information

l Subject is a trader of mechanical equipment and parts, etc without any production activities.

Purchase Information

l The registered activities of subject:

	Details
--	General import and export business (besides licensed business)
--	Trade and installation of hardware machinery and electromechanical devices
--	Trade of steel and special steel
--	Trade of electric power and automatic control system equipment
F107990	Wholesale of other chemical products (gypsum)

l It is introduced that subject purchase products from abroad.

Sales Information

l Subject is engaged in sales of mechanical equipment and parts, etc.

l It is introduced that subject’s major sales region is in Taiwan domestic market, etc.

Import and export right:

Import right	Yes
Export right	Yes

Settlements

Purchase

Domestic Purchase (Taiwan and Mainland, China)

Subject has little domestic purchase.

Foreign Purchase

Product	Payment Terms	Proportion
Mechanical equipment and parts	CBD, etc	100%

Sales

Domestic Markets (Taiwan)

Product	Sales Terms	Proportion
Mechanical equipment and parts	COD, CBD, etc	100%

Export

Subject has little 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. Wu declined to disclose its financials citing the grounds of company’s confidentiality; from other source we can not obtain the relevant information, either.

Bankers

Subject declined to disclose its bank details; from other source we cannot obtain the relevant information, either.

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. Wu

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.17
UK Pound	1	Rs.86.42
Euro	1	Rs.68.26

INFORMATION DETAILS

Report Prepared by :

PDT

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.