MIRA INFORM REPORT

Report Date :

16.06.2012

IDENTIFICATION DETAILS

Name :	YEU TERNG MACHINE CORPORATION

Registered Office :	1F, No.10, Alley 72, Lane 361, Tai-Hu Rd., Yingge Dist., New Taipei City 239

Country :	Taiwan

Date of Incorporation :	17.02.1996

Com. Reg. No.:	96879890

Legal Form :	Private Limited Company

Line of Business :	Manufacture and sales of mechanical equipment

No. of Employees :	07-08 employees

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:	Yeu Terng Machine Corporation
Supplied Name:	Yeu Terng Machine Corporation
Trading Address:	No. 21, Lane 175, Tien-Wei Street, Shu Lin District, New Taipei City, Taiwan.
Supplied Address:	1F No. 11 Alley 20 lane 165 Sec 1 Shijiunn St Shu Lin City taipei
Telephone Number:	+886-2-26687175
Fax Number:	+886-2-26687173
E-mail:	yeu.terng@msa.hinet.net

Notes: Subject’s exact name and address are as above and the supplied address is the former one of subject.

Credit Summary

Credit Opinion:

Business connections are permissible.

Company Identification Details

Registered Name:	Yeu Terng Machine Corporation
Registered Address:	1F, No.10, Alley 72, Lane 361, Tai-Hu Rd., Yingge Dist., New Taipei City 239, Taiwan (R.O.C.)
Date of Foundation:	1996-2-17
Registration Number:	96879890
Registry:	New Taipei city Government
Registered Capital:	NTD 5,000,000 (USD 167,500) (As of 2012.06, 1 NTD = 0.0335 USD)
Legal Representatives:	Jiaqi Zheng
Legal Form:	Private Limited Company
Principal Activities:	Manufacture and sales of mechanical equipment
Staff:	7-8 employees
Listed at Stock Exchange:	No
Date of Last Annual Return:	2006-2-6

History

Subject was incorporated on 1996-2-17 with registered number 96879890 as Private Limited Company in Taiwan.

Shareholders

(Unit: NTD)

Name

Subscription Amount

Jiaqi Zheng

2,500,000

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

Subsidiaries & Branches

Factory

Address:	No. 21, Lane 175, Tien-Wei Street, Shu Lin District, New Taipei City, Taiwan.
Telephone Number:	+886-2-26687175
Fax Number:	+886-2-26687173

Personnel Information

Core Management

Director

Name	Jiaqi Zheng
Position	Director

Personnel Structure

Total Employees

7-8 employees

Operation Information

Offices & Factories

	Headquarters
Add	No. 21, Lane 175, Tien-Wei Street, Shu Lin District, New Taipei City, Taiwan.

Production Information

l Subject is a engaged in manufacture of mechanical equipment

l It is introduced that subject authorize other cooperative manufactures to process components and does the assembly in its own factory

Purchase Information

l The registered activities of subject:

--	Manufacture, processing and sales of all kinds of Industrial machinery
--	Manufacture, processing and sales of machine elements and Hardware Accessories
--	Manufacture, processing and sales of all kinds of Automatic controlling equipment and components
--	Import and export trading business of the above mentioned products and materials
--	Bidding service, price quoting service and sales of the above mentioned products for domestic and overseas customers.

l Subject purchases components both at home and abroad and it is introduced that 80% of its components are from Taiwan.

Sales Information

l The subject is mainly engaged in sales of mechanical equipment such as gluing machines, etc

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

l It is introduced that Subject’s longest delivery date is 6 months.

Import and export right:

Import right	Yes
Export right	Yes

Settlements

Purchase

Domestic Purchase

Product	Payment Terms	Proportion
Components, etc	COD, Credit Sales, etc	100%

Foreign Purchase

Product	Payment Terms	Proportion
Components, etc	CBD, etc	100%

Sales

Domestic Markets

Product	Sales Terms	Proportion
Mechanical equipment	30% prepayment, 70% before delivery, etc	100%

Export

Product	Sales Terms	Proportion
Mechanical equipment	30% prepayment, 70% before delivery, 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. Luo 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. Luo

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.76
UK Pound	1	Rs.86.69
Euro	1	Rs.70.44

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.