MIRA INFORM REPORT

Report Date :

08.02.2012


Tel. No.:	2333 2619
Fax No.:	2333 2169

IDENTIFICATION DETAILS

Name :	ZHONG XIN INTERNATIONAL TRADE (HONG KONG) CO. LTD.

Registered Office :	G/F., Shun Wai Industrial Building, 15 Yuk Yat Street, Tokwawan, Kowloon

Country :	Hong Kong

Date of Incorporation :	28.04.2009

Com. Reg. No.:	50632249

Legal Form :	Private Limited Company

Line of Business :	Subject is an air-freight and sea-freight forwarder

No. of Employees :	06

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 – September 30^th, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Hong Kong

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

Company name

ZHONG XIN INTERNATIONAL TRADE (HONG KONG) CO. LTD.

Company ADDRESS

G/F., Shun Wai Industrial Building, 15 Yuk Yat Street, Tokwawan, Kowloon, Hong Kong.

PHONE: 2333 2619

FAX: 2333 2169

MANAGEMENT

Managing Director: Mr. Liu Qingbin

SUMMARY

Incorporated on: 28th April, 2009.

Organization: Private Limited Company.

Capital: Nominal: HK$10,000.00

Issued: HK$10,000.00

Business Category: Logistic Service Provider.

Employees: 6.

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

Banking Relation: Satisfactory.

Company ADDRESS

Registered Head Office & Warehouse:-

G/F., Shun Wai Industrial Building, 15 Yuk Yat Street, Tokwawan, Kowloon, Hong Kong.

BUSINESS REGISTRATION NUMBER

50632249

COMPANY FILE NUMBER

1335024

MANAGEMENT

Managing Director: Mr. Liu Qingbin

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

SHAREHOLDER

(As per registry dated 28-04-2011)

Name	Occupation	No. of shares
LIU Qingbin	Merchant	10,000 =====

Name

Occupation

No. of shares

LIU Qingbin

Merchant

10,000

=====

DIRECTOR

(As per registry dated 28-04-2011)

Name (Nationality)	Address
LIU Qingbin	Room 101, No. 1 Lane 2, Zhong Dong Road, Xi Qi Industrial District South, Chengtian Town, Chaonan District, Shantou, China.

Name

(Nationality)

Address

LIU Qingbin

Room 101, No. 1 Lane 2, Zhong Dong Road, Xi Qi Industrial District South, Chengtian Town, Chaonan District, Shantou, China.

SECRETARY

(As per registry dated 28-04-2011)

Name	Address	Co. No.
Chanson Accounting Co. Ltd.	Unit C (or Room 703), 7/F., Oriental Centre, 67-71 Chatham Road, Tsimshatsui, Kowloon, Hong Kong.	0753425

HISTORY

The subject was incorporated on 28th April, 2009 as a private limited liability company under the Hong Kong Companies Ordinance.

Formerly the subject was located at Unit 17, 7/F., Kowloon Bay Industrial Centre, 15 Wang Hoi Road, Kowloon, Bay, Kowloon, Hong Kong, moved to the present address in late 2009.

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

OPERATIONS

Activities: Logistic Service Provider.

Lines: All kinds of commodities entrusted by customers.

Employees: 6.

Commodities Imported: Europe, China, India, other Asian countries.

Markets: China, Southeast Asia, Europe, North America, etc.

Terms/Sales: As per contracted.

Terms/Buying: L/C, T/T, D/P, 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: Making a small loss in 2010.

Condition: Business is under development.

Facilities: Making fairly active use of general banking facilities.

Payment: Met trade commitments as contracted.

Commercial Morality: Satisfactory.

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

Standing: Small.

GENERAL

Having issued 10,000 ordinary shares of HK$1.00 each, Zhong Xin International Trade (Hong Kong) Co. Ltd. is wholly-owned by Mr. Liu Qingbin who is a China merchant. He is also the only director of the subject and currently residing in Shantou Special Economic Zone, China. Liu is a China ID Card holder and does not have the right to reside in Hong Kong permanently.

The predecessor of the subject Zhong Xin International Trade (Hong Kong) Company [Zhong Xin] has ceased business since 24th January, 2009. Zhong Xin was a sole proprietorship which was set up by Mr. Lee Kwun Fai on 28th January, 2008. Lee was a Hong Kong merchant and was the Manager of Zhong Xin.

The subject is an air-freight and sea-freight forwarder. It is also engaged in storing goods for clients. The subject’s registered address is also a warehouse. Currently, it is trading in textile products and chemicals which are entrusted by China firms. Most of the commodities are imported from Europe, India, other Asian countries, etc. Prime markets are China, Southeast Asia, Europe, North America, etc. It has got a number of business partners or clients in Shantou Special Economic Zone, China. The business of the subject is improving.

It is likely that Liu has had an associated firm in Shantou Special Economic Zone, China which is also a logistic service provider.

The history of the subject is just over two years and nine months.

Since the history of the subject is short in Hong Kong, on the whole, consider it good for normal business engagements on secured basis for the time being.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.48.92
UK Pound	1	Rs.77.31
Euro	1	Rs.64.12

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.