MIRA INFORM REPORT

Report Date :

06.06.2012

IDENTIFICATION DETAILS

Name :	YUK TSE ENTERPRISE CO., LTD.

Registered Office :	No.16, Lane 316, Kuang Hsin Rd., Pate City, Taoyuan County 334

Country :	Taiwan

Date of Incorporation :	05.07.1985

Com. Reg. No.:	44035371

Legal Form :	Limited Company

Line of Business :	Manufacture, process and sale of paper tube machine, etc.

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

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:	YUK TSE ENTERPRISE CO., LTD.
Supplied Name:	YUK TSE ENTERPRISES CO LTD.
Trading Address:	No.16, Lane 316, Kuang Hsin Rd., Pate City, Taoyuan County 334, Taiwan, R.O.C.
Supplied Address:	16, Lane 316, Kuang Hsin Rd., Bade City, Taoyuan Taiwan
Telephone Number:	+886-3-3684966-7
Fax Number:	+886-3-3685473
E-mail:	tsungtse@ms16.hinet.net; zongze59@gmail.com

Notes:

The correct name and address are as above mentioned.

Credit Summary

Credit Opinion:

Business connections are permissible.

Company Identification Details

Registered Name:	YUK TSE ENTERPRISE CO., LTD.
Registered Address:	No.16, Lane 316, Kuang Hsin Rd., Pate City, Taoyuan County 334, Taiwan, R.O.C.
Date of Foundation:	1985-7-5
Registration Number:	44035371
Registry:	MOEA Central Office
Registered Capital:	NTD 10,000,000 (USD 3,325,000) (As of 2012.06, 1 NTD = 0.03325 USD)
Legal Representatives:	Zongze Wen
Legal Form:	Limited Company
Principal Activities:	Manufacture, process and sale of paper tube machine, etc.
Staff:	N/A
Listed at Stock Exchange:	No
Date of Last Annual Return:	2009-10-2

Note:

The subject declined to disclose the number of staff.

History

Subject was incorporated on 1985-7-5 with registered number 44035371 as Limited Company in Taiwan.

Shareholders

(Unit: NTD)

Name

Subscription Amount

Zongze Wen

8,500,000

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

Subsidiaries & Branches

Subject did not register any subsidiaries or branches, from other source we can not obtain the relevant information, either.

Personnel Information

Core Management

Directors

Name	Zongze Wen
Position	Director and Manager

Operation Information

Offices & Factories

	Headquarters
Add	No.16, Lane 316, Kuang Hsin Rd., Pate City, Taoyuan County 334, Taiwan, R.O.C.

Production Information

l Subject is engaged in manufacture of paper tube machines including spiral paper tube winder, paper tube recutter, paper tube finishing machine and other accessories, etc.

Purchase Information

l The registered activities of subject:

1	Manufacture, processing and sales of paper processing machinery, chemical fiber machinery and textile machinery
2	Raw materials Importing and exporting business of the above mentioned products
3	Bidding service, price quoting service and marketing service of the relevant products for domestic and overseas customers

l The components and raw material for production are purchased from Taiwan, Japan, German, China, etc.

Sales Information

l Subject is engaged in sales of paper tube machines and other related products, and its major products are as follows:

1	Spiral Paper Tube Winder
2	Paper tube Recutter
3	Paper tube Finishing Machine
4	Other Accessories

l Subject provides after-sale service, equipment's installation and know-how transfer regarding the paper tube machine manufacturing technique, and the technical service providing.

l Subject’s sales regions include: Singapore, Taiwan, China, Vietnam, Malaysia, Thailand, Indonesia, India, etc

Import and export right:

Import right	Yes
Export right	Yes

Settlements

Purchase

Domestic Purchase (Taiwan and Mainland, China)

Product	Payment Terms	Proportion
Components and raw material	COD, CBD, etc	100%

Foreign Purchase

Product	Payment Terms	Proportion
Components and raw material	CBD, etc	100%

Sales

Domestic Markets (Taiwan)

Product	Sales Terms	Proportion
Paper tube machine, etc	COD, CBD, etc	100%

Export

Product	Sales Terms	Proportion
Paper tube machine, etc	CBD, etc	100%

Notes: The detailed settlement of subject is to be negotiated.

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

Bankers

Subject declined to disclose its bank details; from other source we cannot obtain the relevant information, either.

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. Wen
Position	Manager
Department	Sales Department
E-mail	zongze59@gmail.com

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.56
UK Pound	1	Rs.85.52
Euro	1	Rs.69.50

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%)

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.