MIRA INFORM REPORT

Report Date :

16.03.2012

IDENTIFICATION DETAILS

Name :	ESLITE TRADING CO., LTD.

Registered Office :	1FL., No.243, Min-tzu w. Rd., Datong Dist., Taipei 103, Taiwan, R.O.C.

Country :	Taiwan

Date of Incorporation :	06.07.2004

Com. Reg. No.:	27337766

Legal Form :	Private Limited Company

Line of Business :	Engaged in Sales if Chemicals (Active Pharmaceutical Ingredient) For Human Beings

No. of Employees :	16 Employees

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 30,000
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 – September 30, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

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:	Eslite Trading Co., Ltd.
Supplied Name:	Eslite Trading Co Ltd.
Trading Address:	1FL., No.243, Min-Tzu W. Rd., Datong Dist., Taipei 103, Taiwan, R.O.C.
Supplied Address:	1st Floor No. 243, Min-TZU W Rd Taipei, Taiwan RO C
Telephone Number:	+886-2-2585-2215
Fax Number:	+886-2-2585-2235
E-mail:	fatmalt.clemen@msa.hinet.net

Notes: Subject’s exact name and address are as above and the supplied contacts are not valid.

Credit Summary

Credit Rating:	Maximum credit USD 30,000
Credit Opinion:	Business connections are permissible.

Company Identification Details

Registered Name:	Eslite Trading Co., Ltd.
Registered Address:	1FL., No.243, Min-tzu w. Rd., Datong Dist., Taipei 103, Taiwan, R.O.C.
Date of Foundation:	2004-7-6
Registration Number:	27337766
Registry:	Taipei City Government
Registered Capital:	NTD 20,000,000 (USD 678,000) (As of 2012.03, 1 NTD = 0.0339 USD)
Legal Representatives:	Yanping Chen
Legal Form:	Private Limited Company
Principal Activities:	Trading of chemicals, etc
Staff:	16 employees
Listed at Stock Exchange:	No
Date of Last Annual Return:	2010-10-8

History

Subject was incorporated on 2004-7-6 with registered number 27337766 as Private Limited Liability Company in Taiwan.

Shareholders

(Unit: NTD)

Name

Subscription Amount

Yanping Chen

7,000,000

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

Subsidiaries & Branches

Subject did not introdcue whether it has any subsidiaries or branches, from other source we can not obtain the relevant information, either

Personnel Information

Core Management

Director

Name	Yanping Chen
Position	Director

Personnel Structure

Total Employees

16 employees

Operation Information

Offices & Factories

	Headquarters
Add	1FL., No.243, Min-Tzu W. Rd., Datong Dist., Taipei 103, Taiwan, R.O.C.

Production Information

· Subject is a trader of Active Pharmaceutical Ingredient for human beings

Purchase Information

· The major registered activities of subject:

Business Code	Details
F107100	Wholesales of Basic chemical materials
F107120	Wholesales of Precision chemical materials
F108021	Wholesales of Western medicine
F108060	Wholesales of B Type medicine
F102160	Wholesales of accessary food
F401010	International Trading Business
ZZ99999	Besides licensed business, all other business items those are not banned or restricted.

· Subject purchases chemicals mainly abroad and it is introduced that subject purchases from suppliers all over the world.

Sales Information

· The subject is mainly engaged in sales of chemicals (Active Pharmaceutical Ingredient) for human beings

· Subject’s products are both sold in domestic and overseas market and it is introduced that subject can transfer products from the original place directly to customers.

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
Active Pharmaceutical Ingredient	CBD, etc	100%

Sales

Domestic Markets

Product	Sales Terms	Proportion
Active Pharmaceutical Ingredient	CBD, etc	100%

Export

Product	Sales Terms	Proportion
Active Pharmaceutical Ingredient	CBD, etc	100%

Notes: Subject’s settlement for export is generally in USD

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. Chen 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

Mr. Chen

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.50.22
UK Pound	1	Rs.78.63
Euro	1	Rs.65.53

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.