MIRA INFORM REPORT

Report Date :

13.01.2012

IDENTIFICATION DETAILS

Correct Name :	SX BIOTECH CO., LTD

Registered Office :	MEIC Building, Narnyi Zam Street 63, 232, Ulaanbaatar 210628

Country :	Mongolia

Date of Incorporation :	22.04.2008

Com. Reg. No.:	9011150009

Legal Form :	Limited Liability Company

Line of Business :	Trading as importers, wholesalers and retailers of laboratory equipment, instruments, chemicals, diagnostics and reagents.

No. of Employees :	7

RATING & COMMENTS

MIRA’s Rating :

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

Maximum Credit Limit :	TUGRIK 10,000,000

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)

Mongolia

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

Company name

SX Biotech Co., Ltd (Correct)

SX Biotech Office (Requested)

Company ADDRESS

Building : MEIC Building

Street : Narnyi Zam Street 63

P.O.Box No. : 232

Town : Ulaanbaatar 210628

Country : Mongolia

Telephone : (976 50) 060 677 / (976 99) 040 584 (Erdene Chimeddorj) / (976 88) 132 385

Fax : (976 11) 323 877

E-Mail : erdene@sxbiotech.mn / ayush@sxbiotech.mn

Shortform Name: SXB Co., Ltd

SENIOR COMPANY PERSONNEL

Name Position

1. Erdene Chimeddorj Executive Director

2. Ayush Erdene Sales Manager

3. Ninjbadam Enkhbaatar Sales Manger

Total Employees : 7

PAYMENTS

No complaints have been heard regarding payments from local suppliers or banks.

We consider it is acceptable to deal with subject for SMALL amounts,

although it is normal accepted practice for international suppliers to deal on secured terms with Mongolian importers.

Opinion on maximum credit : TUGRIK 10,000,000

Trade risk assessment: Normal

PRINCIPAL BANKERS

NAME : TRADE AND DEVELOPMENT BANK OF MONGOLIA

Branch : Zanabazar Branch, Chingeltei District, Trade Street 7

Town : Ulaanbaatar

Telephone : (976 11) 312 356 / 328 531 / 329 413

Fax : (976 11) 311 025

FINANCIAL INFORMATION

Private companies in Mongolia are not required to publish or disclose balance sheets. However, the subject interviewed offered the following information :

Sales Turnover : TUGRIK 350,000,000 - 2010 - exact

: TUGRIK 490,000,000 - 2011 - exact

: TUGRIK 700,000,000 - 2012 - projected

Net Profit : TUGRIK 50,000,000 - 2010 - exact

: TUGRIK 70,000,000 - 2011 - exact

Total value of current contracts : US DLRS 127,000

Financial year ends 31 December.

LEGAL STATUS AND HISTORY

Date Started : 22 April 2008

C.R. No. : 9011150009

Tax No. : 5221293

Authorised Capital : TUGRIK 4,000,000

Paid-Up Capital : TUGRIK 4,000,000

Limited Liability Company with the following shareholders:

Percentage

1. Erdene Chimeddorj 50%

(Mongolian national)

2. Zanabazar Enkhbaatar 50%

(Mongolian national)

ACTIVITIES

The Company is involved in the following activities :

Trading as importers, wholesalers and retailers of laboratory equipment, instruments, chemicals, diagnostics and reagents.

NACE Code: 4675

Imports from USA, South Korea, Japan, Germany, Finland, Belgium and China.

Subject does not export, all sales are domestic.

Subject’s suppliers include:

1. Cole Parmer International

USA

Telephone : (1 65) 9690 8208

E-Mail : fning@coleparmer.com

Contact person: Francis Ning - Asia Business Manager

2. Carl Roth GmbH

Schoemperlenstr. 1-5,

Karlsruhe 76185

Telephone : (49) 721 5606

Fax : (49) 721 5606

E-Mail : info@carlroth.de

Contact Person: Wolfgang Treffinger - Export Mangaer

3. Intron Biotechnology, INC

South Korea

Telephone : (82 2) 449 2381

E-Mail : besieger@intronbio.com

Contact Person: Lumy Kwon - Export Manager

FACILITIES

The Company has the following facilities :

200 sq. m. rented premises comprising administrative offices and storage facilities located at the heading address.

Until 2011 subject was located at :

Nisora Tower 604, Tokyo Street 14A

Ulaanbaatar

REGISTERED OFFICE

MEIC Building

Narnyi Zam Street 63

P.O.Box No.: 232

Ulaanbaatar 210628

SPECIAL NOTE

You enquired on: SX Biotech Office. Please note that the correct name is as per heading.

Interviewed: Erdene Chimeddorj (Executive Director).

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.51.83
UK Pound	1	Rs.79.42
Euro	1	Rs.65.90

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.