MIRA INFORM REPORT

Report Date :

15.02.2012

IDENTIFICATION DETAILS

Name :	SUNNYVOX ELECTRONICS INDUSTRIES LIMITED

Registered Office :	Flat A, 15/F Xiangxi Mansion, Chunfeng Road, Luohu District Shenzhen, Guangdong Province 518001 Pr

Country :	China

Date of Incorporation :	15.03.2004

Legal Form :	Private

Line of Business :	Exporting Electronic Products.

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

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 :	Small 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 – September 30, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

China

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

Company name and address

SUNNYVOX ELECTRONICS INDUSTRIES LIMITED

FLAT A, 15/F XIANGXI MANSION, CHUNFENG ROAD, LUOHU DISTRICT

SHENZHEN, GUANGDONG PROVINCE 518001 PR CHINA

TEL: 86 (0) 755-82309199

FAX: 86 (0) 755-82309166

CHECK ON SC’S REGISTERED TELEPHONE LINE

² The given contact ways are as follows,

TEL: 86 (0) 755-82309199

FAX: 86 (0) 755-82309166

When we dialed the above telephone number, a gentleman Mr. Zhang answered the phone. He told us that the correct name should be “Sunnyvox Electronics Industries Limited”, instead of the given one-“Sonnyvox”, and it has no Chinese name. SC is registered in Hong Kong, and mainly operates in Shenzhen, Guangdong Province PR China.

² Mr. Zhang introduced the below information,

A. SC is mainly engaged in exporting electronic products.

The products mainly include:

NOVETLY RADIO

MP3

MP4

DVD

VCD

B. SC sources its materials 100% from domestic market, mainly Guangdong. SC sells 100% of its products to overseas market, mainly Southeast Asia and India.

C. SC’s website is www.sunnyvox.com

D. SC’s e-mail is sales@sunnyvox.com & info@sunnyvox.com

E. Mr. Zhang’s e-mail: 1098253144@QQ.com

SPOT VISIT

P.O. BOX-392 SHEK WU HUI POST OFFICE N.T. HONGKONG, S.A.R., CHINA

According to Mr. Zhang, the above address is SC’s mailing address. SC’s office address should be Flat A, 15/F Xiangxi Mansion, Chunfeng Road, Luohu District, Shenzhen, Guangdong Province 518001 PR China.

REGISTRATION

Since it is a practice for a company in China to register in State Administration of Industry and Commerce (SAIC) with a total set of required documents in CHINESE, we are unable to find its in Shenzhen Municipal and Guangdong Provincial SAIC according to its English name.

During our check with Hong Kong Registry, we found the following registration about SC,

Company Name: Sunnyvox Electronics Industries Limited

Company File No.: 0889173

Date of Registration: March 15, 2004

Legal Form: Private

Status: Live

CONCLUSIONS

SC is considered small-sized in its line with 8 years business history. Credit dealings with SC should be confined into C.O.D. to small amount at present.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.33
UK Pound	1	Rs.77.41
Euro	1	Rs.64.84

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