MIRA INFORM REPORT

Report Date :

31.12.2012

IDENTIFICATION DETAILS

Name :	CHINA TOP TECHNOLOGY LTD.
Registered Office :	c/o Gateway Registration Ltd. Unit 1A, 14/F., Chun Wo Commercial Centre, 23-29 Wing Wo Street, Central
Country :	Hong Kong
Date of Incorporation :	11.10.2012
Com. Reg. No.:	60465965
Legal Form :	Private Limited Liability Company
LINE OF BUSINESS :	THE SUBJECT’S LINES OF BUSINESS ARE UNKNOWN SINCE THE SECRETARIAL FIRM KNOWS NOTHING ABOUT ITS BUSINESS. IT SEEMS THAT THE SUBJECT IS AN ELECTRONIC PRODUCT TRADER.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

NB

RATING		STATUS	PROPOSED CREDIT LINE
----	NB	New Business	----

Status :	New Company
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 – June 30^th, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
Hong Kong	A2	A2

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

Hong Kong - ECONOMIC OVERVIEW

Hong Kong has a free market economy, highly dependent on international trade and finance - the value of goods and services trade, including the sizable share of re-exports, is about four times GDP. Hong Kong's open economy left it exposed to the global economic slowdown that began in 2008. Although increasing integration with China, through trade, tourism, and financial links, helped it to make an initial recovery more quickly than many observers anticipated, it again faces a possible slowdown as exports to the Euro zone and US slump. The Hong Kong government is promoting the Special Administrative Region (SAR) as the site for Chinese renminbi (RMB) internationalization. Hong Kong residents are allowed to establish RMB-denominated savings accounts; RMB-denominated corporate and Chinese government bonds have been issued in Hong Kong; and RMB trade settlement is allowed. The territory far exceeded the RMB conversion quota set by Beijing for trade settlements in 2010 due to the growth of earnings from exports to the mainland. RMB deposits grew to roughly 7.8% of total system deposits in Hong Kong by the end of 2011, an increase of over 59% since the beginning of the year. The government is pursuing efforts to introduce additional use of RMB in Hong Kong financial markets and is seeking to expand the RMB quota. The mainland has long been Hong Kong's largest trading partner, accounting for about half of Hong Kong's exports by value. Hong Kong's natural resources are limited, and food and raw materials must be imported. As a result of China's easing of travel restrictions, the number of mainland tourists to the territory has surged from 4.5 million in 2001 to 28 million in 2011, outnumbering visitors from all other countries combined. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2011 mainland Chinese companies constituted about 43% of the firms listed on the Hong Kong Stock Exchange and accounted for about 56% of the Exchange's market capitalization. During the past decade, as Hong Kong's manufacturing industry moved to the mainland, its service industry has grown rapidly. Growth slowed to 5% in 2011. Credit expansion and tight housing supply conditions caused Hong Kong property prices to rise rapidly in 2010 and inflation to rise 5.3% in 2011. Lower and middle income segments of the population are increasingly unable to afford adequate housing. Hong Kong continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.

Source : CIA

Company name

CHINA TOP TECHNOLOGY LTD.

ADDRESS

Registered Office:-

c/o Gateway Registration Ltd.

Unit 1A, 14/F., Chun Wo Commercial Centre, 23-29 Wing Wo Street, Central, Hong Kong.

[Tel: 2396 6090; Fax: 2392 1423]

BUSINESS REGISTRATION NUMBER

60465965

COMPANY FILE NUMBER

1810747

DATE OF INCORPORATION

11th October, 2012.

CAPITAL

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

Issued Share Capital: HK$10,000.00

SHAREHOLDERS

(As per registry dated 15-11-2012)

Name		No. of shares
GNL12 Ltd., Hong Kong.		1
Isthikar MOHAMED MOHIDEEN		9,999
		––––––
	Total:	10,000 =====

DIRECTOR

(As per registry dated 15-11-2012)

Name (Nationality)	Address
Isthikar MOHAMED MOHIDEEN	No. 23, 6th Street, A K Samy Nagar, Secretariat Colony Kellys, Chennai-600010, Tamil Nadu, India.

SECRETARY

(As per registry dated 15-11-2012)

Name	Address	Co. No.
Global Associates Ltd.	Unit A, 10/F., Tack Building, 48 Gilman Street, Central Hong Kong.	1695695

GENERAL

China Top Technology Ltd. was incorporated on 11th October, 2012 as a private limited liability company.

The subject does not have its own operating office. Its registered office is in a commercial service firm located at Unit 1A, 14/F., Chun Wo Commercial Centre, 23-29 Wing Wo Street, Central, Hong Kong known as Gateway Registration Ltd. which is handling its correspondences and documents. The corporate secretary of the subject Global Associates Ltd. is located at a different address.

The subject has no employees in Hong Kong.

According to the Companies Registry of Hong Kong, the subject has issued 10,000 ordinary shares of HK$1.00 each of which 9,999 shares are owned by Mr. Isthikar Mohamed Mohideen who is an Indian. He is an India passport holder and does not have the right to reside in Hong Kong permanently. He is also the only director of the subject.

The subject’s lines of business are unknown since the secretarial firm knows nothing about its business. It seems that the subject is an electronic product trader.

The director of the subject cannot be reached as he is in India. It is likely that the subject has had an associated company in India which is also operated by Mohamed Mohideen. It is also likely that the India firm deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong.

The subject’s business in Hong Kong is not active. History in Hong Kong is just over two months.

Since the subject’s history is short, and does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on L/C basis.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.85
UK Pound	1	Rs.88.40
Euro	1	Rs.72.63

INFORMATION DETAILS

Report Prepared by :

SDA

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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