MIRA INFORM REPORT

Report Date :

12.07.2012

IDENTIFICATION DETAILS

Name :	ASIA EXCEL TRADING LTD.
Registered Office :	Room 1801-1803, 18/F., Midas Plaza, 1 Tai Yau Street, San Po Kong, Kowloon
Country :	Hong Kong
Date of Incorporation :	03.01.2005
Com. Reg. No.:	35349695
Legal Form :	Private Limited Company.
Line of Business :	Importer, Exporter and Wholesaler of Belts, Sunglasses, Fashion Accessories, textile products, etc.
No. of Employees :	17. (Including associate)

RATING & COMMENTS

MIRA’s Rating :

Ba

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)
Hong Kong	A2	A2

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

Company name and address

ASIA EXCEL TRADING LTD.

Address:

Room 1801-1803, 18/F., Midas Plaza,

1 Tai Yau Street, San Po Kong,

Kowloon, Hong Kong.

(Your address given as:

Room No. 1605, 148 Electric Road,

North Point, Hong Kong.)

PHONE: 2107 4807

FAX: 2508 0409

MANAGEMENT

Managing Director: Mr. Dipendra Bharat Goenka

SUMMARY

Incorporated on: 3rd January, 2005.

Organization: Private Limited Company.

Capital: Nominal: HK$10,000.00

Issued: HK$10,000.00

Business Category: Importer, Exporter and Wholesaler.

Employees: 17. (Including associate)

Main Dealing Banker: Australia & New Zealand Banking Group Ltd., Hong Kong Branch.

Banking Relation: Satisfactory.

ADDRESS

Registered Head Office:-

Room 1801-1803, 18/F., Midas Plaza, 1 Tai Yau Street, San Po Kong, Kowloon, Hong Kong.

Associated Company:-

Global City Industrial Ltd., Hong Kong. (Same address)

BUSINESS REGISTRATION NUMBER

35349695

COMPANY FILE NUMBER

0943201

MANAGEMENT

Managing Director: Mr. Dipendra Bharat Goenka

Contact Person: Ms. Maggie Chan

CAPITAL

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

Issued Share Capital: HK$10,000.00

SHAREHOLDERS

(As per registry dated 03-01-2012)

Name		No. of shares
Dipendra Bharat GOENKA		9,999
Sincere Nominees Ltd., Hong Kong.		1
		––––––
	Total:	10,000 =====

DIRECTORS

(As per registry dated 03-01-2012)

Name (Nationality)	Address
Dipendra Bharat GOENKA	14 Grange Road, Kew Vic 3101, Australia.
Slicere Nominees Ltd.	13/F., Chun Wo Commercial Centre, 23-29 Wing Wo Street, Central, Hong Kong.

SECRETARY

(As per registry dated 03-01-2012)

Name	Address	Co. No.
Sincere Secretaries Ltd.	13/F., Chun Wo Commercial Centre, 23-29 Wing Wo Street, Central, Hong Kong.	0109535

HISTORY

The subject was incorporated on 3rd January, 2005 as a private limited liability company under the Hong Kong Companies Ordinance.

Apart from these, neither material change nor amendment has been ever traced and noted.

OPERATIONS

Activities: Importer, Exporter and Wholesaler.

Lines: Belts, Sunglasses, Fashion Accessories, textile products, etc.

Employees: 17. (Including associate)

Commodities Imported: Europe, India, other Asian countries, etc.

Markets: Asian countries, Australia, etc.

Terms/Sales: L/C or as per contracted.

Terms/Buying: L/C, D/P, etc.

FINANCIAL INFORMATION

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

Issued Share Capital: HK$10,000.00

Profit or Loss: Making a small profit every year.

Condition: Keeping in a satisfactory manner.

Facilities: Making active use of general banking facilities.

Payment: Met trade commitments as contracted.

Commercial Morality: Satisfactory.

Banker: Australia & New Zealand Banking Group Ltd., Hong Kong Branch.

Standing: Normal.

GENERAL

Having issued 10,000 ordinary shares of HK$1.00 each, Asia Excel Trading Ltd. is wholly owned by Mr. Dipendra Bharat Goenka who is an Australian. He is an Australia passport holder and does not have the right to reside in Hong Kong permanently. Goenka is also the only director of the subject.

The subject has got an associated company Global City Industrial Ltd. [Global City] located at its operating address. This firm was incorporated on 19th September, 2003. The subject and Global City are engaged in the same lines of business, more or less.

The subject is trading in the following commodities:-

· Belts, wallets, other leather productsp;

· Fashion accessories; &

· Sunglasses and related products.

Most of the commodities are sourced from Europe, other Asian countries, etc. Prime markets are Australia and the other Asian countries. Business is rather active.

It is likely that Goenka in Australia is operating another firm which is responsible for importing and wholesaling the subject’s commodities in Australia.

Currently, Goenka is residing in a rented apartment in Victoria of Australia.

The businesses of the subject and Global City are chiefly handled by Ms. Maggie Chan who is a Hongkongnese. Overall business is normal.

On the whole, since the history of the subject in Hong Kong is over seven years, consider it good for normal business engagements.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.36
UK Pound	1	Rs.85.95
Euro	1	Rs.67.87

INFORMATION DETAILS

Report Prepared by :

PRL

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.