MIRA INFORM REPORT

Report Date :

23.02.2012

IDENTIFICATION DETAILS

Name :	AIRVERCLEAN PTE LTD

Formerly Known As :	Maxcom Industrial Pte Ltd

Registered Office :	78 Shenton Way, #26-02a, Singapore 079120

Country :	Singapore

Date of Incorporation :	30.08.1988

Com. Reg. No.:	198803107G

Legal Form :	Private Limited Exempt Company

Line of Business :	Manufacture and trade of air cleaning and purifying equipments and systems for commercial and industrial premises

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

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

Maximum Credit Limit :	USD 100,000
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^th, 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:	Airverclean Pte Ltd
Supplied Name:	Airverclean Pte Ltd
Trading Address:	61 Kaki Bukit Ave 1, #03-19 Shun Li Park, Singapore 417943.
Supplied Address:	61 Kaki Bukit Ave 1 3-19 Shunli Industrial Park Singapore
Telephone Number:	+65-6741-5800
Fax Number:	+65-6741-3935
E-mail:	sales@airverclean.com

Note:

The exact address is as above.

Credit Summary

Credit Rating:	Maximum credit USD 100,000
Credit Opinion:	Business connections are permissible.

Company Identification Details

Registered Name:	Airverclean Pte Ltd
Registered Address:	78 Shenton Way, #26-02a, Singapore 079120
Date of Registration::	1988-8-30
Registered Number:	198803107G
Country of Incorporation:	Singapore
Registered Capital:	SGD 500,002.00 (USD 397,344) (As of 2012.2, 1 SGD = 0.79469 USD)
Paid-up Capital:	SGD 500,002.00 (USD 397,344) = 500,002 Shares@1 SGD
Legal Form:	Private Limited Exempt Company
Principal Activities:	Manufacture and trade of air cleaning and purifying equipments and systems for commercial and industrial premises.
Staff:	N/A
Status:	Live Company
Listed at Stock Exchange:	No.
Date of Last Annual Return:	2011-7-15

Note:

Subject declined to disclose the staff number of subject, and from other sources, we couldn’t obtain the information, either.

History

Subject was incorporated on 1988-8-30 with registered number 198803107G as Private Limited Exempt Company in Singapore.

Change of Name:

Date	Change
1988-8-30	Maxcom Industrial Pte Ltd
1992-1-8	Airverclean Pte Ltd

Shareholders

Unit: SGD

Name	Subscription Amount	Proportion of Investment (%)
HO CHEE HUAP	35,000	7.0%
LEE KOON MENG	303,350	60.67%
LEE KHOON ANN	30,000	6.0%
HO CHOON KEOW	65,001	13%
LEE KHOON YONG	66,651	13.3%
Total	500,002	=100%

Major Shareholder Information:

1
Name:	HO CHEE HUAP
ID Number:	S0157799I
Address:	170 Bishan Street 13 #05-71 Singapore 570170
Nationality:	Singapore Citizen
2
Name:	LEE KOON MENG
ID Number:	S0184040A
Address:	17a Phillips Avenue Singapore 546945
Nationality:	Singapore Citizen
3
Name:	LEE KHOON ANN
ID Number:	S1256033H
Address:	854 Yishun Ring Road #03-3511 Singapore 760854
Nationality:	Singapore Citizen
4
Name:	HO CHOON KEOW
ID Number:	S1321624Z
Address:	17a Phillips Avenue Singapore 546945
Nationality:	Singapore Citizen
5
Name:	LEE KHOON YONG
ID Number:	S1385909D
Address:	951 Hougang Avenue 9 #09-510 Singapore 530951
Nationality:	Singapore Citizen

Subsidiaries & Branches

Malaysia

Name:	Airverclean (M) Sdn Bhd
Registered Address:	No. 31 Jalan 4/6D Medan Putra Business Centre, Bandar Sri Manjalara Kepong 52200, Kuala Lumpur, Malaysia
Telephone Number:	03-62776988/03-62776033,
Fax Number:	03-62776402.
E-mail:	avrcln@pd.jaring.my

Manage Information

Core Management

Detailed Information of Management:

1
Name:	HO CHEE HUAP
Position:	Director
ID Number:	S0157799I
Address:	170 Bishan Street 13 #05-71 Singapore 570170
Nationality:	Singapore Citizen
Date of Appointment:	2000-9-26
2
Name:	LEE KOON MENG
Position:	Director/ Managing Director
ID Number:	S0184040A
Address:	17a Phillips Avenue Singapore 546945
Nationality:	Singapore Citizen
Date of Appointment:	1993-11-29
3
Name:	KONG YUH LING DOREEN
Position:	Secretary
ID Number:	S1123500Z
Address:	27 Dover Crescent #16-25 Singapore 130027
Nationality:	Singapore Citizen
Date of Appointment:	1997-6-13
4
Name:	LEE KHOON ANN
Position:	Director
ID Number:	S1256033H
Address:	854 Yishun Ring Road #03-3511 Singapore 760854
Nationality:	Singapore Citizen
Date of Appointment:	1992-6-1
5
Name:	HO CHOON KEOW
Position:	Director
ID Number:	S1321624Z
Address:	17a Phillips Avenue Singapore 546945
Nationality:	Singapore Citizen
Date of Appointment:	1990-9-28
6
Name:	LEE KHOON YONG
Position:	Director
ID Number:	S1385909D
Address:	951 Hougang Avenue 9 #09-510 Singapore 530951
Nationality:	Singapore Citizen
Date of Appointment:	1992-2-21

Operation Information

Offices & Factories

	Office
Address:	61 Kaki Bukit Ave 1, #03-19 Shun Li Park, Singapore 417943.

Production Information

l Subject is a manufacturer of air cleaning and purifying equipments and systems for commercial and industrial premises with the production activities

Purchase

l The components and raw material for production are mostly purchased from local and abroad.

Sales Information

l Subject is mainly engaged in manufacturing and trading of air cleaning and purifying equipments and systems for commercial and industrial premises.

l Subject is a manufactures and seller a wide range of Air Treatment Products under the following Brands:

RydAiR - Electrostatic Air Cleaners for Kitchen exhaust, offices and factories

UVi-Aire - UVC ozone Air Treatment System for reataurants

UV-Lux - UVC Purification System for Air Handling Units/Commercial Buildings

l Subject introduced that it is a supplier of commercial and industrial air filtration equipment and systems especially in the hospitality business.

l Subject introduced that its products are used from the smallest food outlet to the multi billion up market complexes like the Marina Bay Sands Casino Resort and Resorts World on Sentosa.

l Subject introduced that its selling territory covers India, Indonesia, Thailand, Philippines, Vietnam, The United Kingdom, and Dubai/UAE.

Settlements

Purchase

Subject declined the purchase settlements information, and from other sources, we couldn’t obtain the information, either.

Sales

Domestic Markets

Product	Sales Terms	Proportion
Air cleaning and purifying equipments and systems for commercial and industrial premises.	CBD, etc	100%

Export

Product	Sales Terms	Proportion
Air cleaning and purifying equipments and systems for commercial and industrial premises.	T.T, L/C, etc.	100%

Financial Information

In Singapore, Limited Exempt Private Companies are not obligated to submit their financial statements to the local registry. The subject also declined to disclose such information due to the confidentiality reason.

Bankers

The bankers’ information is not available from the subject or other sources.

Public

Charges

Charge 1
Charge Number:	199707954
Date of Registration:	1997-12-23
Name:	OVERSEAS UNION BANK LIMITED
Amount Secured:	All Monies
Charge 2
Charge Number:	C201004152
Date of Registration:	2010-5-19
Name:	UNITED OVERSEAS BANK LIMITED
Amount Secured:	All Monies
Charge 3
Charge Number:	C201104373
Date of Registration:	2011-4-8
Name:	UNITED OVERSEAS BANK LIMITED
Amount Secured:	All Monies

Interview Details

Name:

Mr. Lam

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.25
UK Pound	1	Rs.76.75
Euro	1	Rs.65.16

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.