MIRA INFORM REPORT

Report Date :

02.05.2012

IDENTIFICATION DETAILS

Name :	SEI CHENG BIOTECHNOLOGY CO., LTD.
Registered Office :	1F., No.255, Sec.1, Yuan Shui Road, Cheng Shing Li, Yuanlin, Chung Hua Hsien
Country :	Taiwan
Date of Incorporation :	27.07.2009
Com. Reg. No.:	24450223
Legal Form :	Joint Stock Company
Line of Business :	Trading of chemicals
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba

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

Status :	Good
Payment Behaviour :	Regular
Litigation :	---

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	A2	A2

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

Contact Points

Company Name:	Sei Cheng Biotechnology Co., Ltd.
Supplied Name:	Sei Cheng Biotechnology
Trading Address:	1F., No.255, Sec.1, Yuan Shui Road, Cheng Shing Li, Yuanlin, Chung Hua Hsien, Taiwan
Supplied Address:	No. 255, Sec 1 Yuan Shui Yuanlin Changhua County Taiwan
Telephone Number:	+886-4-8365121
Fax Number:	+886-4-8365125

Notes:

The exact subject’s name and address are as above mentioned.

Credit Summary

Credit Opinion:

Business connections are permissible.

Company Identification Details

Registered Name:	Sei Cheng Biotechnology Co., Ltd.
Registered Address:	1F., No.255, Sec.1, Yuan Shui Road, Cheng Shing Li, Yuanlin, Chung Hua Hsien, Taiwan
Date of Foundation:	2009-7-27
Registration Number:	24450223
Registry:	Ministry of Economic Affairs Central Office
Registered Capital:	NTD 30,000,000 (USD 990,000) (As of 2012.04, 1 NTD = 0.033 USD)
Paid-up Capital:	NTD 30,000,000 (USD 990,000)
Legal Representatives:	Jinxiong Weng
Legal Form:	Joint Stock Company
Principal Activities:	Trading of chemicals
Staff:	N/A
Listed at Stock Exchange:	No
Date of Last Annual Return:	2011-11-2

Notes:

Subject declined to introduce its staff number.

History

Subject was incorporated on 2009-7-27 with registered number 24450223 as Joint Stock Company in Taiwan.

Change of Name

Former Chinese Name	协成生化科技股份有限公司
Current Chinese Name	欣宏生化科技股份有限公司

Shareholders

Name	Subscription Shares
Jinxiong Weng	100,000
Ruihong Weng
300,000
Ruilong Weng	300,000
Jinyuan Weng	200,000

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

1
Name	Jinxiong Weng
Position	Chairman
2
Name	Ruihong Weng
Position	Director
3
Name	Ruilong Weng
Position	Director
4
Name	Jinyuan Weng
Position	Supervisor

Operation Information

Offices & Factories

	Headquarters
Add	1F., No.255, Sec.1, Yuan Shui Road, Cheng Shing Li, Yuanlin, Chung Hua Hsien, Taiwan

Operations

l The registered activities of subject:

Business Code	Details
F102170	Wholesaling of food
F107200	Wholesaling of chemical raw material
F107990	Wholesaling of other chemicals
F121010	Wholesaling of food additive
F199990	Other wholesaling
F203010	Retailing of food and beverage
F207200	Retailing of chemical raw material
F207990	Retailing of other chemicals
F299990	Other retailing
F401010	International trade
ZZ99999	Besides licensed business, all other business items those are not banned or restricted.

l The subject has a proportion of 50% for Import.

l The subject is mainly engaged in trading of various chemicals.

l Subject’s products include chemical raw material, food additive, etc.

l Subject has both domestic and foreign markets.

l Subject exports according to orders.

l The subject has a proportion of 50% for export.

Import and export right:

Import right	Yes
Export right	Yes

Settlements

Purchase

Domestic Purchase

Product	Payment Terms	Proportion
Chemicals	COD, CBD, etc.	100%

Foreign Purchase

Product	Payment Terms	Proportion
Chemicals	COD, CBD, etc.	100%

Sales

Domestic Markets

Product	Sales Terms	Proportion
Chemicals	COD, CBD, etc.	100%

Export

Product	Sales Terms	Proportion
Chemicals	COD, 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 declined to disclose its financials citing the grounds of company’s confidentiality; 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.

Notes:

The woman who answered the telephone declined to introduce her name.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.68
UK Pound	1	Rs.85.12
Euro	1	Rs.69.38

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.