MIRA INFORM REPORT

Report Date :

09.02.2012

IDENTIFICATION DETAILS

Name :	SUNSHINE FARM (HK) FOOD CO. LTD.
Registered Office :	c/o Secretarial Firm Office No. 3, 10/F., Witty Commercial Building, 1A-1L Tung Choi Street, Mongkok, Kowloon
Country :	Hong Kong
Date of Incorporation :	04.06.2009
Com. Reg. No.:	50745640
Legal Form :	Private Limited Company
Line of Business :	Importer and Exporter of Peanut products, dried fruits, other kinds of foodstuffs, etc.
No. of Employees :	Nil

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Small Company
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, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
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 and address

SUNSHINE FARM (HK) FOOD CO. LTD.

Address:

c/o Secretarial Firm

Office No. 3, 10/F., Witty Commercial Building,

1A-1L Tung Choi Street, Mongkok,

Kowloon, Hong Kong.

Note: Your given address “Flat H, 15/F., Siu King Building, 6 On Wah Street, Ngau Tau Kok, Kowloon, Hong Kong” is the operating address of the subject’s company secretary.

PHONE: Not available

FAX: Not available

MANAGEMENT

Managing Director: Mr. Wang Ji Ping

SUMMARY

Incorporated on: 4th June, 2009.

Organization: Private Limited Company.

Capital: Nominal: HK$100,000.00

Issued: HK$100,000.00

Business Category: Foodstuff Trader.

Employees: Nil.

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

Banking Relation: Satisfactory.

ADDRESS

Registered Head Office:-

c/o Secretarial Firm

Office No. 3, 10/F., Witty Commercial Building, 1A-1L Tung Choi Street, Mongkok, Kowloon, Hong Kong.

Associated/Affiliated Companies:-

Greatnut International (Mozambique) Co. Ltd., Mozambique.

Guanghe Farm, China.

Qingdao Sunshine Farm Co. Ltd., China.

Shandong Greatnut Cereals & Oils Industrial Co. Ltd., China.

Shandong Greatnut Foodstuffs Co. Ltd., China.

Shandong Greatnut Group, China.

Shandong Oasis International Trade Co. Ltd., China.

Shandong Yuwei Food Co. Ltd., China.

BUSINESS REGISTRATION NUMBER

50745640

COMPANY FILE NUMBER

1343124

MANAGEMENT

Managing Director: Mr. Wang Ji Ping

CAPITAL

Nominal Share Capital: HK$100,000.00 (Divided into 100,000 shares of HK$1.00 each)

Issued Share Capital: HK$100,000.00

SHAREHOLDER

(As per registry dated 04-06-2011)

Name	No. of shares
WANG Ji Ping	100,000 ======

DIRECTOR

(As per registry dated 04-06-2011)

Name (Nationality)	Address
WANG Ji Ping	Room 502, Unit 1, Building No. 2, 20 Hai Qu East Road, Donggang District, Rizhao City, Shandong Province, China.

SECRETARY

(As per registry dated 04-06-2011)

Name	Address	Co. No.
D’Kans International (HK) Ltd.	Flat H, 15/F., Siu King Building, 6 On Wah Street, Ngau Tau Kok, Kowloon, Hong Kong.	1242010

HISTORY

The subject was incorporated on 4th June, 2009 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 and Exporter.

Lines: Peanut products, dried fruits, other kinds of foodstuffs, etc.

Employees: Nil.

Commodities Imported: China, other Asian countries, etc.

Markets: China, Japan, other Asian countries, Europe, North America, Middle East, etc.

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

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

FINANCIAL INFORMATION

Nominal Share Capital: HK$100,000.00 (Divided into 100,000 shares of HK$1.00 each)

Issued Share Capital: HK$100,000.00

Profit or Loss: Keeping a balance account in Hong Kong.

Condition: Business is not active in Hong Kong.

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

Having issued 100,000 ordinary shares of HK$1.00 each, Sunshine Farm (HK) Food Co. Ltd. is wholly owned by Mr. Wang Ji Ping who is a China merchant. He is a China ID Card holder and does not have the right to reside in Hong Kong permanently. Wang is also the only director of the subject.

The subject does not have its own operating office. Its registered office is in a secretarial firm located at Office No. 3, 10/F., Witty Commercial Building, 1A-1L Tung Choi Street, Mongkok, Kowloon, Hong Kong. The secretarial firm is handling its correspondences and documents.

The subject has no employees in Hong Kong. It is a foodstuff trader.

The subject has had a business partner in Rizhao City, Shandong Province, China known as Shandong Greatnut Cereals & Oils Industrial Co. Ltd. [Greatnut C&O] which belongs to the Shandong Greatnut Group of companies.

The subject and Greatnut C&O have jointly set up “Guanghe Farm” which is engaged in planting peanuts and processing peanuts. This Farm is also in Rizhao City, Shandong Province, China. The Farm was set up in 2008. Now, the products of the Farm bear the brand names of “Guanghe Farm” and “Deweiju”. The peanut products of the Farm and the products of Greatnut C&O have been exported to the European Union, Japan, Southeast Asia, Russia, the Middle East, North America, etc. Business is rather active.

Greatnut C&O has been awarded a number of certifications by the Chinese Government. It also has got the following certifications: ISO 9001:2000, HKAS of the United Kingdom, HACCP, etc.

The Greatnut Group is engaged in processing agricultural products, dried fruits, etc. Currently, the Group has had six subsidiaries, and has about 1,000 employees in Shandong Province, China. The Group’s products are marketed throughout China and exported to worldwide countries.

Wang Ji Ping is also the Managing Director of “Guanghe Farm” in China.

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

The subject’s history in Hong Kong is just over two years and seven months.

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.07
UK Pound	1	Rs.78.09
Euro	1	Rs.65.15

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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