MIRA INFORM REPORT

Report Date :

14.02.2012

IDENTIFICATION DETAILS

Name :	ESUN INTERNATIONAL PTE. LTD.

Registered Office :	17 Tractor Road Singapore 627975

Country :	Singapore

Date of Incorporation :	22.11.2007

Com. Reg. No.:	200721691H

Legal Form :	Limited Exempt Private Company

Line of Business :	Mechanical Engineering Works

No. of Employees :	About 200 Employees

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
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)

Singapore

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

Contact Points

Company Name:	Esun International Pte. Ltd.
Supplied Name:	Esun International Pte Ltd
Trading Address:	No. 3 Seng Poh Road Singapore 168891
Supplied Address:	3 Seng Poh Road 168891 Singapore
Telephone Number:	+65-6438-7757
Fax Number:	+65-6438-7747
E-mail:	sales@esun.com.sg; stefanie@esun.com.sg

Notes: Subject’s exact name and address are as above.

Company Identification Details

Registered Name:	Esun International Pte. Ltd.
Registered Address:	17 Tractor Road Singapore 627975
Date of Registration::	2007-11-22
Registered Number:	200721691H
Country of Incorporation:	Singapore
Registered Capital:	SGD 5,000,010 (USD 3,981,508) (As of 2012.02, 1 SGD = 0.7963 USD)
Paid-up Capital:	SGD 5,000,010 (USD 3,981,508) = 5,000,010 Shares@1 SGD
Legal Form:	Limited Exempt Private Company
Principal Activities:	28300--Mechanical Engineering Works
Staff:	About 200 Employees
Status:	Live Company
Listed at Stock Exchange:	No
Date of Last Annual Return:	2011-5-19

History

Subject was incorporated on 2007-11-22 with registered number 200721691H as Limited Exempt Private Company in Singapore.

Shareholders

Unit: SGD

Name	Subscription Amount	Proportion of Investment (%)
Seah Hock Thiam	2,500,005	50%
Lee Poh Choo	2,500,005	50%
Total	5,000,010	100%

Major Shareholder Information:

1
Name:	Seah Hock Thiam
ID Number:	S1764330D
Address:	11 Jalan Senandong Swiss Club Park Singapore 288762
2
Name:	Lee Poh Choo
ID Number:	S6831418F
Address:	11 Jalan Senandong Swiss Club Park Singapore 288762

Subsidiaries & Branches

Factory:

Registered Address:	No. 17 Tractor Road Singapore 627975
Tel:	+65-6836-5788
Fax:	+65-6836-5766

Management Information

Core Management

Detailed Information of Management:

1
Name:	Ang Yew Lai
Position:	Director
ID Number:	S1720356H
Address:	35 Dairy Farm Road #08-01 Dairy Farm Estate Phase 3 Singapore 679052
Nationality:	Singapore Citizen
Date of Appointment:	27-09-2011
2
Name:	Seah Hock Thiam
Position:	Director
ID Number:	S1764330d
Address:	11 Jalan Senandong Swiss Club Park Singapore 288762
Nationality:	Singapore Citizen
Date of Appointment:	2008-9-5
3
Name:	Lee Poh Choo
Position:	Director
ID Number:	S6831418F
Address:	11 Jalan Senandong Swiss Club Park Singapore 288762
Nationality:	Singapore Citizen
Date of Appointment:	2009-11-20
4
Name:	Chiam Kia Soon
Position:	Secretary
ID Number:	S1145200J
Address:	169 Jalan Jurong Kechil #06-11 Singapore 598669
Nationality:	Singapore Citizen
Date of Appointment:	2010-4-9

Personnel Structure

Total Employees

About 200 Employees

Operation Information

Offices & Factories

	Office
Address:	No. 3 Seng Poh Road Singapore 168891

Production Information

l Subject is engaged in recycling of ferrous and non-ferrous scrap metals and electronic/ electrical scrap materials, etc

l Subject has recycling factory in Singapore and it is introduced that subject also has cooperative factory in Malaysia and China, etc

Purchase Information

l Subject purchases both at home and abroad.

l It is introduced that subject purchases from South East Asia including Singapore, Malaysia, Indonesia and Thailand, etc

Sales Information

l Subject is engaged in sales of ferrous and non-ferrous scrap metals and electronic/ electrical scrap materials, etc

l Subject’s products are both sold in domestic and overseas market and it is introduced that about 95% of subject’s sales focus on overseas market such as the mainland of China, Taiwan, Hong Kong, South Korea, India, Japan, Middle East, Malaysia and USA.

l It is introduced that subject’s minimum quantity for export is one 20-feet container.

Settlements

Purchase

Domestic Markets

Products	Payment Terms	Proportion
Metal scraps, etc	COD, etc	100%

Overseas Markets

Products	Payment Terms	Proportion
Metal scraps, etc	CBD, etc	100%

Sales

Domestic Markets

Product	Sales Terms	Proportion
Metal scraps, etc	COD, etc	100%

Overseas Markets

Product	Sales Terms	Proportion
Metal scraps, etc	CBD, etc	100%

Financial Information

In Singapore, Limited Exempt Private Companies are not obligated to submit their financial statements to the local registry. We did not find the financials of subject from the local registry,

the subject also declined to disclose such information due to the confidentiality reason.

Bankers

Bank Charge

Charge 1
Charge Number:	C200903938
Date of Registration:	2009-7-2
Name:	Malayan Banking Berhad
Amount Secured:	All Monies
Charge 2
Charge Number:	C201003744
Date of Registration:	2010-5-6
Name:	Malayan Banking Berhad

Auditors

Name:

E.M.NG & CO.

Interview Details

Name:

Ms. Shao

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.32
UK Pound	1	Rs.77.84
Euro	1	Rs.65.35

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.