MIRA INFORM REPORT

Report Date :

06.07.2012

IDENTIFICATION DETAILS

Name :	TAIWAN UNION PLASTIC MACHINERY CO., LTD.

Registered Office :	No.7-8, Sinji, Sinji Village, Anding Dist., Tainan City

Country :	Taiwan

Date of Incorporation :	04.10.1984

Com. Reg. No.:	69852291

Legal Form :	Joint Stock Company

Line of Business :	Manufacturing and sales of injection molding machine

No. of Employees :	More than 50 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 – March 31^st, 2012

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Taiwan

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

Contact Points

Company Name:	Taiwan Union Plastic Machinery Co., Ltd.
Supplied Name:	Taiwan Union Plastic Machinery Co Ltd.
Trading Address:	No.7-8, Sinji, Sinji Village, Anding Dist., Tainan City, Taiwan, R.O.C.
Supplied Address:	No. 7-8 Sinji Sinji Village Anding Township Taiwan County 745
Telephone Number:	+886-6-5938821
Fax Number:	+886-6-5938801

Credit Summary

Credit Opinion:

Business connections are permissible.

Company Identification Details

Registered Name:	Taiwan Union Plastic Machinery Co., Ltd.
Registered Address:	No.7-8, Sinji, Sinji Village, Anding Dist., Tainan City, Taiwan, R.O.C.
Date of Foundation:	1984-10-4
Registration Number:	69852291
Registry:	MOEA Central Office
Registered Capital:	NTD 41,000,000 (USD 1,418,600) (As of 2011.06, 1 NTD = 0.0346 USD)
Paid-up Capital:	NTD 41,000,000 (USD 1,418,600)
Legal Representatives:	Xiaoting Lu
Legal Form:	Joint Stock Company
Principal Activities:	Manufacturing and sales of injection molding machine
Staff:	More than 50 Employees
Listed at Stock Exchange:	No
Date of Last Annual Return:	2010-10-20

History

Subject was incorporated on 1984-10-4 with registered number 69852291 as Joint Stock Company in Taiwan.

Shareholders

Name	Subscription Shares
Xiaoting Lu	24,100
Zhongting Lu
11,500
Quanmin Ni	2,100
Manhong Ni	2,000

Notes:

The information above is that of subject’s major shareholders.

Subsidiaries & Branches

Factories:

Company Name:	Hangzhou Plant
Address:	No. 61 NanHuan Road, LinAn Economic Development Zone, Zhejiang, China, 311305

Personnel Information

Core Management

1
Name	Xiaoting Lu
Position	Board Chairman
2
Name	Zhongting Lu
Position	Director
3
Name	Quanmin Ni
Position	Director
4
Name	Manhong Ni
Position	Auditor

Personnel Structure

Total Employees

More than 50 Employees

Operation Information

Offices & Factories

	Headquarters
Add	No.7-8, Sinji, Sinji Village, Anding Dist., Tainan City, Taiwan, R.O.C.

Production Information

l Subject is a manufacturer of plastic injection molding machine.

Purchase Information

l The components and raw material for production are mostly purchased from domestic markets.

Sales Information

l The subject is mainly engaged in sales of plastic injection molding machine.

l Subject introduced that its major products sold as following:

	Products
1	High Precision Microcellular Foam Molding a
2	Low rate Foam Molding Machine
3	DCM Series Sandwich Color-Blending IMM
4	DC Series 2 Colors Injection Molding Machine
5	UN2H/UN Series High Speed Injection Molding Machine/Microprocessor Injection Molding Machine
6	UNS-P Series Shoe-last Injection Molding Machine
7	UNACC Series Accumulator Injection Molding Machine
8	Double Purpose Energy-Saving System
9	Peripheral Equipments
10	Others

l Subject’s selling territory covers all over the world.

Import and export right:

Import right	Yes
Export right	Yes

Settlements

Purchase

Domestic Purchase (Taiwan and Mainland, China)

Product	Payment Terms	Proportion
 the components and raw material	COD, etc	100%

Foreign Purchase

The subject seldom imports.

Sales

Domestic Markets (Taiwan)

Product	Sales Terms	Proportion
plastic injection molding machine	CBD, etc	100%

Export

Product	Sales Terms	Proportion
plastic injection molding machine	T.T in advanced, L/C, etc	100%

Financial Information

Subject has no obligations to disclose its financial statements to the third party according to the relevant policy in Taiwan and the only source from which we can obtain the information is the subject itself.

Subject’s relevant staff Mr. Chen declined to disclose its financials citing the grounds of company’s confidentiality; from other source we can not obtain the relevant information, either.

Bankers

Name	Taiwan Bank

Public Record

Mortgage

No chattel mortgage record of subject has been found within the recent 3 months.

Lawsuit

Up to date of reporting, no existing or latent litigation of the subject has been found.

Interview Details

Name

Mr. Chen

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.03
UK Pound	1	Rs.85.93
Euro	1	Rs.68.97

INFORMATION DETAILS

Report Prepared by :

MNL

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.