MIRA INFORM REPORT

Report Date :

31.12.2012

IDENTIFICATION DETAILS

Name :	HONGKONG M.REN INTERNATIONAL LTD.
Registered Office :	c/o Baililai International Group (HK) Ltd., Room 1708, 17/F., A1, Nan Fung Tower, 173 Des Voeux Road Central
Country :	Hong Kong
Date of Incorporation :	29.10.2010
Com. Reg. No.:	53190599
Legal Form :	Private Limited Company.
Line of Business :	Importer, Exporter and Wholesaler of Electronic products, Electronic devices, mobile phones, etc.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	No operating office in Hong Kong
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 (31.03.2011)	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

HONGKONG M.REN INTERNATIONAL LTD.

Company ADDRESS

C/o Baililai International Group (HK) Ltd.

Room 1708, 17/F., A1, Nan Fung Tower, 173 Des Voeux Road Central, Hong Kong.

PHONE: 2545 8556

FAX: 3571 9160

MANAGEMENT

Managing Director: Mr. Wu Qiang

SUMMARY

Incorporated on: 29th October, 2010.

Organization: Private Limited Company.

Capital: Nominal: HK$10,000.00

Issued: HK$10,000.00

Business Category: Importer, Exporter and Wholesaler.

Employees: Nil.

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

Banking Relation: Satisfactory.

Company ADDRESS

Registered Office:-

c/o Baililai International Group (HK) Ltd.

Room 1708, 17/F., A1, Nan Fung Tower, 173 Des Voeux Road Central, Hong Kong.

Associated Companies:-

Shenzhen SvCung Technologies Co. Ltd.

Room 361, East 4th Building, SEG Science & Technology Park, Huaqiang North Road, Futian District, Shenzhen Special Economic Zone, China.

[Tel: 86 (755) 8376 8534; 8376 6746

Fax: 86 (755) 8376 5627 Email: Sales@88480.com]

Shenzhen Tigel International Technology Ltd., China.

Shenzhen Mingren Communication Technology Co. Ltd., China.

BUSINESS REGISTRATION NUMBER

53190599

COMPANY FILE NUMBER

1522022

MANAGEMENT

Managing Director: Mr. Wu Qiang

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 29-10-2011)

Name		No. of shares
WU Qiang		5,000
XU Yun		5,000
		–––––
	Total:	10,000 =====

DIRECTORS

(As per registry dated 29-10-2011)

Name (Nationality)	Address
WU Qiang	503, 5 Block, Haiwen Garden, Xuefu Road, Nanshan District, Shenzhen Special Economic Zone, China.
XU Yun	1603, West Block, 2nd Phase, Cangxin Technology Square, Tianan Numerical City, 25 Tairun 4th Road, Futian District, Shenzhen Special Economic Zone, China

SECRETARY

(As per registry dated 29-10-2011)

Name	Address	Co. No.
Baililai International Group (HK) Ltd.	Room 1708, 17/F., Nan Fung Tower, 173 Des Voeux Road Central, Hong Kong.	1071086

HISTORY

The subject was incorporated on 29th October, 2010 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: Importer, Exporter and Wholesaler.

Lines: Electronic products, Electronic devices, mobile phones, etc.

Employees: Nil.

Commodities Imported: China, Europe, US, etc.

Markets: China, other Asian countries, etc.

Annual Turnover: Too early to obtain figure.

Terms/Sales: L/C, T/T, etc.

Terms/Buying: L/C, T/T, etc.

FINANCIAL INFORMATION

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

Issued Share Capital: HK$10,000.00

Profit or Loss: Too early to offer an opinion.

Condition: Business is under development.

Facilities: Making fairly 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: Small.

GENERAL

Hongkong M.Ren International Ltd. is equally-owned by Wu Qiang and Xu Yun, both of whom are China merchants.

The subject has issued 10,000 ordinary shares of HK$1.00 each while each of the shareholders holds 5,000 shares. Wu and Xu are also directors of the subject. They are China ID holders and do not have the right to reside in Hong Kong permanently.

The subject does not have its own operating office. Its registered office is in a commercial service firm located at “Room 1708, 17/F., A1, Nan Fung Tower, 173 Des Voeux Road, Central, Hong Kong” known as “Baililai International Group (HK) Ltd.” [Baililai] which is handling its correspondences and documents. This firm is also the corporate secretary of the subject.

The subject has no employees in Hong Kong.

To our knowledge, the subject has got an associated company in Shenzhen Special Economic Zone, China known as Shenzhen SvCung Technologies Co., Ltd. [SvCung].

SvCung acts as the agent for Tsc, Godex, Zebra, SATO, Intermec, Epson, Metrologic, Datalogic brand bar code equipment. Meanwhile, it still acts as the agent for the products of Taiwan CIPHER LAB, CLEVER CODE, ARGOX, TYSSO, SCANHERO, etc.

SvCung trades in the following products and provides clients with the following services:-

· US Zebra mainly (Zebra), Japan SATO (Sato ), US Intermec, EPSON, laser bar code reader, laser scanning rifle, laser scanning platform of Metrologic (U.S.A.), serial laser products, such as CIPHER LAB Chinese and English making an inventory machine, etc.; bar code reader, Zebra (zebra), printer of Semiconductor of Taiwan Company;

· POS system integration business: Offer high-performance relevant hardware and the card, trough equipment of POS system, POS software with customized specialty, information management system of the market, etc.;

· Solution business: Cooperate in data collection to engage in layer and punish with information system exactly/assembly line manage. Through promoting information to flow, improve the speed of logistics, reduce the working intensity, improve working efficiency, thus increase benefit, enliven in the logistics, postal service, government, large-scale factory and other fields mainly;

· Type the business in bar code label: The specialized bar code is typed, offer the relevant business, technical consulting service;

· Enterprise’s website construction and trade software development business: E-commerce, enterprises’ websites, an advertisement plan, the community forum, network popularization; and

· Business of the computer network: Agent for Lenovo’s brand computer, server, the firewall, an exchanger, router, etc.

The above-mentioned commodities are sourced from worldwide suppliers. Prime markets are China, other Asian countries, Europe, North America, Australia, etc.

SvCung has about 20 employees in China.

The Contact Person of SvCung is Wu Qiang who is one of the shareholders of the subject.

It is also likely that SvCung deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong. SvCung also exports/imports commodities to/from foreign markets under the name of the subject and its registered address in Hong Kong.

The subject has had two more associated companies in Shenzhen SEZ, China:

Shenzhen Tigel International Technology Ltd.

Shenzhen Mingren Communication Technology Co. Ltd.

The second firm is a mobile phone trader. It is therefore, the subject also trades in mobile phones, etc. Products are exported to Asian countries and Europe, etc.

The subject’s business in Hong Kong is not active. History in Hong Kong is just over a year.

Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on secured basis.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.85
UK Pound	1	Rs.88.39
Euro	1	Rs.72.63

INFORMATION DETAILS

Report Prepared by :

PRL

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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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.