MIRA INFORM REPORT

Report Date :

07.06.2012

IDENTIFICATION DETAILS

Name :	ROOMYCHEER INDUSTRIAL COMPANY

Registered Office :	No.86, Aly. 17, Dafeng Ln., Yuanlin Township, Changhua County 51059

Country :	Taiwan

Date of Incorporation :	24.03.1992

Com. Reg. No.:	86597324

Legal Form :	Private Limited Company

Line of Business :	Processing and trading of leather

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

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

Status :	Moderate
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:	Roomycheer Industrial Company
Supplied Name:	Roomycheer Industrial Co
Trading Address:	196 Lane 239 Shan Chiao Rd Section 4 Shetou Hsiang Changhwa Hsien 511, Taiwan
Supplied Address:	196 Lane 239 Shan Chiao Rd Section 4 Shetou Hsiang Changhwa Hsien 511, Taiwan
Telephone Number:	+886-4-8721855
Fax Number:	+886-4-8721849
E-mail:	leather@ms7.hinet.net ; flower8256@yahoo.com

Notes: Subject’s exact name and address are as above and it is introduced that the supplied address is that of subject’s factory.

Credit Summary

Credit Opinion:

Business connections are permissible.

Company Identification Details

Registered Name:	Roomycheer Industrial Company
Registered Address:	No.86, Aly. 17, Dafeng Ln., Yuanlin Township, Changhua County 51059, Taiwan (R.O.C.)
Date of Foundation:	1992-3-24
Registration Number:	86597324
Registry:	MOEA Central Office
Registered Capital:	NTD 5,000,000 (USD 169,000) (As of 2012.06, 1 NTD = 0.0338 USD)
Legal Representatives:	Bixing Jiang
Legal Form:	Private Limited Company
Principal Activities:	Processing and trading of leather.
Staff:	N/A
Listed at Stock Exchange:	No
Date of Last Annual Return:	2007-3-28

Notes: Subject declined to disclose its staff number; from other source we can not obtain the relevant information, either.

History

Subject was incorporated on 1992-3-24 with registered number 86597324 as Private Limited Company in Taiwan.

Shareholders

(Unit: NTD)

Name

Subscription Amount

Bixing Jiang

2,250,000

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

Subsidiaries & Branches

Processing factory

Supplied Address:	196 Lane 239 Shan Chiao Rd Section 4 Shetou Hsiang Changhwa Hsien 511, Taiwan
Telephone Number:	+886-4-8721855
Fax Number:	+886-4-8721849

Other address

Address:

No.86, Aly. 17, Dafeng Ln., Yuanlin Township, Changhua County 51059, Taiwan (R.O.C.)

Personnel Information

Core Management

Director

Name	Bixing Jiang
Position	Director

Operation Information

Offices & Factories

	Headquarters
Add	196 Lane 239 Shan Chiao Rd Section 4 Shetou Hsiang Changhwa Hsien 511, Taiwan

Production Information

l Subject is engaged in processing of leather and it mainly deals with the processing and coloring of sheepskin

Purchase Information

l The registered activities of subject:

Business Code	Details
--	Processing and sales of Shoes materials, etc
--	Processing and sales of leather, belt and fur clothing
--	Import, export and sales of leather materials
C402030	Manufacture of leather and fur
F401010	International Trading Business
ZZ99999	Besides licensed business, all other business items those are not banned or restricted.

l Subject purchases sheepskin mainly abroad and it is introduced that subject has suppliers in many regions and they can purchase according to customers’ demands.

Sales Information

l The subject is mainly engaged in sales of processed sheepskin.

l Subject’s products are applied to manufacturing of fur clothing, leather bag and shoes, etc

l Subject’s products are both sold in domestic and overseas market.

Import and export right:

Import right	Yes
Export right	Yes

Settlements

Purchase

Domestic Purchase

Subject has little domestic purchase

Foreign Purchase

Product	Payment Terms	Proportion
Leather	CBD, etc	100%

Sales

Domestic Markets

Product	Sales Terms	Proportion
Leather	CBD, etc	100%

Export

Product	Sales Terms	Proportion
Leather	CBD, 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 Ms. Gao 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 can not obtain the relevant information, either.

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

Ms. Gao

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.50
UK Pound	1	Rs.85.58
Euro	1	Rs.69.30

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.