MIRA INFORM REPORT

Report Date :

13.06.2012

IDENTIFICATION DETAILS

Name :	UNITED EUROPE CHEMICAL CORPORATION LTD.

Registered Office :	c/o RJA Management Ltd., Room A & B, 2/F., Lee Kee Commercial Building, 221-227 Queen’s Road Central

Country :	Hong Kong

Date of Incorporation :	24.05.2010

Com. Reg. No.:	52312142

Legal Form :	Private Limited Liability Company

Line of Business :	Subject is a chemical and chemical raw material trader

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	No operating office in Hong Kong
Payment Behaviour :	Unknown
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

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

Company name

UNITED EUROPE CHEMICAL CORPORATION LTD.

Company ADDRESS

Registered Office:-

c/o RJA Management Ltd.

Room A & B, 2/F., Lee Kee Commercial Building, 221-227 Queen’s Road Central, Hong Kong.

[Tel: 2544 4068; Fax: 2544 5568]

Holding Company:-

A&A Corporation S.a.r.l., Luxembourg.

BUSINESS REGISTRATION NUMBER

52312142

COMPANY FILE NUMBER

1459613

DATE OF INCORPORATION

24th May, 2010.

CAPITAL

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

Issued Share Capital: HK$1.00

SHAREHOLDER

(As per registry dated 24-05-2011)

Name		No. of share
A&A Corporation S.a.r.l. 62, avenue de la Liberte, L-1930 Luxembourg, G.D. Luxembourg.		1 =

Name

No. of share

A&A Corporation S.a.r.l.

62, avenue de la Liberte, L-1930 Luxembourg, G.D. Luxembourg.

DIRECTOR

(As per registry dated 24-05-2011)

Name (Nationality)	Address
Danesh Omprakash RAI	13/3, JAI Ambe Apts. Katrap Midc Road, Badlapur (E), Dist-Thane, Maharashtra, India.

Name

(Nationality)

Address

Danesh Omprakash RAI

13/3, JAI Ambe Apts. Katrap Midc Road, Badlapur (E), Dist-Thane, Maharashtra, India.

SECRETARY

(As per registry dated 15-03-2012)

Name	Address	Co. No.
RJA Management Ltd.	Room A & B, 2/F., Lee Kee Commercial Building, 221-227 Queen’s Road Central, Hong Kong.	1044456

GENERAL

United Europe Chemical Corporation Ltd. was incorporated on 24th May, 2010 as a private limited liability company under the Hong Kong Companies Ordinance.

The subject does not have its own operating office. Formerly, its registered office was in a commercial service firm located at Suite 4305-4306, 43/F., Office Tower, Convention Plaza, 1 Harbour Road, Wanchai, Hong Kong known as Primasia Corporate Services Ltd. [Primasia] which had handled its correspondences and documents. Primasia was also the corporate secretary of the subject. Now, the subject’s registered address is in the operating address of RJA Management Ltd. which is locate at Room A & B, 2/F., Lee Kee Commercial Building, 221-227 Queen’s Road Central, Hong Kong. The subject’s registered address moved to this address in May 2011 as it has changed its commercial service provider since then.

The subject has no employees in Hong Kong.

According to the Companies Registry of Hong Kong, the subject has issued just 1 ordinary share of HK$1.00 which is owned by A&A Corporation S.a.r.l. [A&A], a Luxembourg-based firm.

The old director of the subject H & P (Anguilla) Ltd. [H&P] was a firm registered in the British West Indies. Now, the director of the subject Danesh Omprakash Rai is an Indian who is an India passport hold. He is also the only director of the subject. Currently he is residing in India.

The subject is a chemical and chemical raw material trader.

The subject’s holding company A&A may also be a chemical trader in Luxembourg.

Besides, the subject may also has an associated company in India which is also a chemical trader.

It is likely that A&A deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong. Commodities are sourced from Europe, India, and the other Asian countries. Luxembourg seems to be the prime market.

The subject’s business in Hong Kong is not active. History in Hong Kong is just over two years.

Since the subject does not have its own operating office and has no employees in Hong Kong, on the whole, consider it good for business engagements on secured basis.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.56.05
UK Pound	1	Rs.86.69
Euro	1	Rs.69.98

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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