MIRA INFORM REPORT

Report Date :

30.01.2012

IDENTIFICATION DETAILS

Name :	CHIA SONG KOW COLDSTORAGE TRADING CO.

Registered Office :	No. 25, Jalan 3 Bagan Sungai Besar Sungai Besar Selangor Darul Ehsan 45300

Country :	Malaysia

Date of Incorporation :	19.05.1982

Com. Reg. No.:	000573605-V

Legal Form :	Partnership

Line of Business :	Fish broker & trading in seafoods, fruits, groceries and rice. (as reported)

No. of Employees :	_{10 employees (as reported)}

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 :	USD 60,000
Status :	Small Concern
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)

Malaysia

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

IDENTIFICATION DETAILS

Verified Address

Subject name : CHIA SONG KOW COLDSTORAGE TRADING CO.

Business address : No. 25, Jalan 3

Bagan Sungai Besar

Town : Sungai Besar

Province : Selangor Darul Ehsan

Zip/postal code : 45300

Country : Malaysia

Tel : +60 3 32244055

Fax : +60 3 32242026

Registered address : No. 25, Jalan 3

Bagan Sungai Besar

Town : Sungai Besar

Province : Selangor Darul Ehsan

Zip/postal code : 45300

_{Country : Malaysia}

SUMMARY DETAILS

Executive Summary

Date founded or registered : 19/05/1982

Legal form : Partnership

Chief executive : Chia Seng Hwe

Issued & paid up capital : Not required

Line of business : Fish broker & trading in seafoods, fruits, groceries and rice. (as reported)

_{Staff employed : 10 employees (as reported)}

CREDIT RISK OPINION

Company Analysis

Country risk : Country risk is minimal

Operation trend : Operational trend is steady

Management experience: Management is reasonably experienced

Financial performance : Financial performance is undetermined

Organization structure : Organizational structure is stable

Detrimental : No detrimental records found

Payment history : No payment delays noted

Credit amount suggestion: USD 60,000

_{Credit amount asked : Not described.}

STATUTORY DETAILS

Registry Data

Registration date : 19/05/1982

Legal form : Partnership

Registration no 000573605-V

Registered authority : Companies Commission of Malaysia

Registry status : Live/Active

Previous name : None reported.

Change of legal form : None reported.

MANAGEMENT / DIRECTORS

Key Management

Name : Chia Seng Hwe

_{Designation : Managing Director}

BOARD OF DIRECTORS/ OTHER APPOINTMENTS

Appointments

Name : Chia Kea How

Designation : Director

Identification no : 810202-10-5471

Appointment date : 01/01/01

Address : C/o CHIA SONG KOW COLDSTORAGE TRADING CO.

No. 25, Jalan 3

Bagan Sungai Besar

Sungai Besar 45300

Selangor Darul Ehsan

Malaysia

Biography : Date of Birth: 2 February 1981

Nationality: Malaysian

Gender: Male

Race: Chinese

Name : Chia Seng Hwe

Designation : Director

Identification no : 510818-10-5037

Appointment date : 19/05/82

Address : C/o CHIA SONG KOW COLDSTORAGE TRADING CO.

No. 25, Jalan 3

Bagan Sungai Besar

Sungai Besar 45300

Selangor Darul Ehsan

Malaysia

Biography : Date of Birth: 18 August 1951

Nationality: Malaysian

Gender: Male

Race: Chinese

Name : Tan Ju Heng

Designation : Director

Identification no : 570227-10-5160

Appointment date : 04/01/11

_{Address : Lot PT 5682}

Taman Ria

45300 Sungai Besar Selangor Darul Ehsan Malaysia

Biography : Date of Birth: 27 February 1957

Nationality: Malaysian

Gender: Female

Race: Chinese

Name : Chia Kea Heong

Designation : Director

Identification no : 850514-10-5805

Appointment date : 04/01/11

Address : No. 13A, Taman Suria

45300 Sungai Besar Selangor Darul Ehsan Malaysia

Biography : Date of Birth: 14 May 1985

Nationality: Malaysian

Gender: Male

Race: Chinese

_{Staff employed : 10 employees (as reported)}

SHARE CAPITAL

Composition

Authorized Capital : Not required

Issued capital : Not required

Paid up capital : Not required

OWNERSHIP / SHAREHOLDERS

How listed : Full List

Composition

Shareholder name : Chia Kea How

Address : C/o CHIA SONG KOW COLDSTORAGE TRADING CO.

No. 25, Jalan 3

Bagan Sungai Besar

Sungai Besar 45300

Selangor Darul Ehsan

Malaysia

% of shares : 25%

Shareholder name : Chia Seng Hwe

Address : C/o CHIA SONG KOW COLDSTORAGE TRADING CO.

No. 25, Jalan 3

Bagan Sungai Besar

Sungai Besar 45300

Selangor Darul Ehsan

Malaysia

% of shares : 25%

Shareholder name : Tan Ju Heng

Address : Lot PT 5682

Taman Ria

45300 Sungai Besar Selangor Darul Ehsan Malaysia

% of shares : 25%

Shareholder name : Chia Kea Heong

Address : No. 13A, Taman Suria

45300 Sungai Besar Selangor Darul Ehsan Malaysia

_{% of shares : 25%}

RELATED COMPANIES & CORPORATE AFFILIATIONS

Structure

Name : CHIA SONG KOW COLDSTORAGE SDN. BHD.

Affiliation type : Associate

Address : No. 25, Jalan 3

Bagan Sungai Besar

Sungai Besar 45300

Selangor Darul Ehsan

_Malaysia

BANK & MORTGAGES

Bank Details

Name of bank : Public Bank Berhad

Address : Malaysia

Account details : Current Account

Comments : It is generally not the policy of local banks to provide credit status information to non related parties, however interested parties would be advised to consult first with the Subject if banker's references are required.

_Mortgages: None reported.

Legal Fillings

Bankruptcy fillings : None reported.

Court judgements : None reported.

Tax liens : None reported.

Others : None reported.

FINANCIAL DATA

Description

Comments : The Subject is a registered Partnership company in Malaysia hence is not required to reveal their financial information to the public.

OPERATION DETAILS

Main activities : The Subject is engaged as a fish broker and also trading of seafoods, fruits, groceries and rice. (as reported)

Purchases

International : Asia countries

Sales

Local : Yes

International : None reported.

Property & Assets

Premises : The Subject operates from premises located at the verified heading address consisting of warehouse and administrative office.

Branches : In addition, the Subject operates from warehouse located at:

1A & 3A, Lorong Padang Lalang 1

Padang Lalang Industrial Area

25050 Kuantan Pahang Malaysia

SUMMARIZED COUNTRY RISK

Gross Domestic Products (GDP) & Economic Overview

Central bank : Central Bank of Malaysia

Reserve of foreign exchange & gold : US$ 133.7 billion as of 13 January 2012

Gross domestic product - GDP : US$ 247.781 billion

GPP (Purchasing power parity) : US$ 442.01 billion of International dollars

GDP per capita - current prices : US$ 8,624

GDP - composition by sector : agriculture: 9.4% industry: 40.9% services: 49.7%

Inflation : 2008: 5.4%

2009: 0.6%

2010: 1.7%

Unemployment rate : 2008: 3.3%

2009: 3.6%

_{2010: 3.3%}

Public debt

(General Government gross debt as a % GDP) : 2008: 42.8%

2009: 55.4%

_{2010: 54.2%}

Government bond ratings : Standard & Poor's: A-/Stable/A-2

Moody's rating: A3

_{Moody's outlook: STA}

Market value of publicly traded shares : US$420 billion

Largest companies in the country : CIMB Group Holdings (Banking), Sime Darby (Conglomerates), Public Bank Berhad (Banking), Maybank (Banking), Tenaga Nasional Berhad(Utilities), Petronas Chemicals, Maxis Berhad

Trade & Competitiveness Overview

Total exports : US$210.3 billion

Exports commodities : electronic equipment, petroleum and liquefied natural gas, wood and wood products, palm oil, rubber, textiles, chemicals

Total imports : US$156.2 billion

Imports commodities : electronics, machinery, petroleum products, plastics, vehicles, iron and steel products, chemicals

Export - major partners : US 15.6%, Singapore 14.6%, Japan 9.1%, China 8.8%, Thailand 5%, Hong

Kong 4.6%

Import - major partners : Japan 13%, China 12.9%, Singapore 11.5%, US 10.8%, Taiwan 5.7%, Thailand 5.3%, South Korea 4.9%, Germany 4.6%, Indonesia 4.2%

FDI Inflows : 2007: US$8,538 million

2008: US$7,318 million

_{2009: US$1,381 million}

FDI Outflows : 2007: US$11,280 million

2008: US$14,988 million

2009: US$8,038 million

Best countries for doing business: 21 out of 183 countries

Global competitiveness ranking : 26 (ranking by country on a basis of 133, the first is the best)

Country and Population Overview

Total population : 28.23 million

Total area : 329,847 km2

Capital : Kuala Lumpur

_{Currency : Malaysia Ringgits (MYR)}

Internet users as % of total population: 57.61%

PAYMENT HISTORY

Purchase Term

International : Prepayment, Telegraphic transfer, Credit 30-60 days

Sales Term

Local : Prepayment, Bank transfer, Credit 30-60 days

Trade Reference/ Payment

Behaviour

Comments : As local and international trade references were not supplied, the Subject's payment track record history cannot be appropriately determined but based on our research, payments are believed to be met without delay.

Investigation Note

Sources : Interviews and material provided by the Subject

: Other official and local business sources

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.64
UK Pound	1	Rs.77.79
Euro	1	Rs.65.05

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.

MIRA INFORM REPORT

IDENTIFICATION DETAILS

SUMMARY DETAILS

CREDIT RISK OPINION

STATUTORY DETAILS

MANAGEMENT / DIRECTORS

BOARD OF DIRECTORS/ OTHER APPOINTMENTS

SHARE CAPITAL

OWNERSHIP / SHAREHOLDERS

RELATED COMPANIES & CORPORATE AFFILIATIONS

BANK & MORTGAGES

FINANCIAL DATA

OPERATION DETAILS

SUMMARIZED COUNTRY RISK

PAYMENT HISTORY

Unit