MIRA INFORM REPORT

Report Date :

24.05.2012

IDENTIFICATION DETAILS

Name :	BOSSARD INDUSTRIAL FASTENERS INTERNATIONAL TRADING (SHANGHAI) CO., LTD.
Registered Office :	Suit D, No. 20 Building, No. 229, Huashen Road, Waigaoqiao Free Trade Zone, Shanghai 200131 Pr
Country :	China
Date of Incorporation :	20.07.1999
Com. Reg. No.:	310115400061721
Legal Form :	Wholly Foreign-Owned Enterprise
Line of Business :	Engaged in selling industrial fixed equipment.
No. of Employees :	150

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 :	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 – March 31^st, 2012

Country Name	Previous Rating (31.12.2011)	Current Rating (31.03.2012)
China	A2	A2

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

Company name & address

BOSSARD INDUSTRIAL FASTENERS INTERNATIONAL TRADING (SHANGHAI) CO., LTD.

SUIT D, NO. 20 BUILDING, NO. 229, HUASHEN ROAD,

WAIGAOQIAO FREE TRADE ZONE, SHANGHAI 200131 PR CHINA

TEL: 86 (0) 21- 58666911 FAX: 86 (0) 21- 58668587

EXECUTIVE SUMMARY

INCORPORATION DATE : JUL. 20, 1999

REGISTRATION NO. : 310115400061721

REGISTERED LEGAL FORM : WHOLLY FOREIGN-OWNED ENTERPRISE

CHIEF EXECUTIVE : MR. ANG DE WEI ROBERT (CHAIRMAN)

STAFF STRENGTH : 150

REGISTERED CAPITAL : usd 15,000,000

BUSINESS LINE : trading

TURNOVER : N/A (AS OF DEC. 31, 2010)

EQUITIES : N/A (AS OF DEC. 31, 2010)

PAYMENT : AVERAGE

MARKET CONDITION : AVERAGE

FINANCIAL CONDITION : N/A

OPERATIONAL TREND : STEADY

GENERAL REPUTATION : AVERAGE

EXCHANGE RATE : CNY 6.32 =USD

Adopted abbreviations

ANS - amount not stated

NS - not stated

SC - subject company (the company inquired by you)

NA - not available

CNY - China Yuan Renminbi

SC was registered as a wholly foreign-owned enterprise at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on Jul. 20, 1999.

Company Status: Wholly foreign-owned enterprise

This form of business in PR China is defined as a legal person. It is a limited co. established within the territories of PR China with capital provided totally by the foreign investors. More than one foreign investor may jointly invest in a wholly foreign-owned enterprise. The investing party/parties solely exercise management, reap profit and bear risks and liabilities by themselves. This form of companies usually have a limited duration is extendible upon approval of Examination and Approval Authorities.

SC’s registered business scope includes wholesaling industrial fixed equipment, machinery, communication equipment & spare parts, auto parts, chemical products and rubber products; commission agent; importing and exporting the above commodities; related supporting service; warehousing and distribution business for industrial fixed equipment; maintenance, bonded display, training; technical consulting for related products; international trade; transit trade; trade and trade agent in free trade zone; commercial simple processing and trade consulting service in free trade zone.

SC is mainly engaged in selling industrial fixed equipment.

Mr. Ang De Wei Robert is the legal representative, chairman and general manager of SC at present.

SC is known to have approx. 150 employees at present.

SC is currently operating at the above stated address, and this address houses its operating office in the free trade zone of Shanghai. The detailed premise information is unknown.

http://www.bossard.com/ It includes the information on SC and its related companies. The design is professional and the content is well organized. At present the web site is in English version.

Email: simon.law@bossard.com.cn

No significant events or changes were found during our checks with the local Administration for Industry and Commerce.

MAIN SHAREHOLDERS:

Name % of Shareholding

(Singapore) Boxin Private Co., Ltd. (in Chinese Pinyin) 100

l Legal Representative, Chairman and General Manager:

Mr. Ang De Wei Robert, with university education. He is currently responsible for the overall management of SC.

Working Experience(s):

At present Working in SC as legal representative, chairman and general manager.

SC is mainly engaged in selling industrial fixed equipment.

SC’s products mainly include: hexalobular socket screws, bolts, plugs, etc.

SC sources its materials 60% from domestic market and 40% from overseas market. SC sells 70% of its products in domestic market and 30% to overseas market.

The buying terms of SC include Check, T/T, L/C, and Credit of 30-60 days. The payment terms of SC include T/T, L/C, Check and Credit of 30-60 days.

Note: SC declined to release its major suppliers and clients.

According to http://www.bossard.com/

Bossard Industrial Fasteners International Trading (Shanghai) Co., Ltd. Beijing Office

Block No. 2#F1B, zone 1, Guang lian industrial Park No. 2, Ke Chuang East Five Street

Zhongguancun Science Park Tongzhou Zone - Opto-Mechatronics Industrial Park

Tong Zhou District, Beijing, China

Phone: +8610 5762 1588

Fax: +8610 5762 1599

Bossard Industrial Fasteners International Trading (Shanghai) Co., Ltd. Tianjin Office

Room 412, Block B, Haitai Information Square, Meiyuan Road, Huayuan Industrial Park,

NanKai District, Tianjin, 300384

Phone: +86 (0)22 2370 7826 / 7828

Fax: +86 (0)22 - 2370 7827

Bossard Industrial Fasteners International Trading (Shanghai) Co., Ltd. Qingdao Office

Rm. 1001, No.2-2 Building, No. 1, Fuzhoubei Road Qingdao, China, 266071

Phone: +86 532 8585 6573 / 83

Fax: +86 532 8585 6618

Bossard Industrial Fasteners Inernational Trading (Shanghai) Co., Ltd. Shenyang Office

Room 2019, Building B, HaiLide international commercial building Changjiang Street No. 133

Huanggu District, Shenyang City Liaoning Province, China

Phone: +8624 3151 1800 / +8624 3151 6026

Fax: +8621 5866 0688 831/832

Etc.

Overall payment appraisal:

( ) Excellent ( ) Good (X) Average ( ) Fair ( ) Poor ( ) Not yet determined

The appraisal serves as a reference to reveal SC's payments habits and ability to pay. It is based on the 3 weighed factors: Trade payment experience (through current enquiry with SC's suppliers), our delinquent payment and our debt collection record concerning SC.

Trade payment experience: SC did not provide any name of trade/service suppliers and we have no other sources to conduct the enquiry at present.

Delinquent payment record: None in our database.

Debt collection record: No overdue amount owed by SC was placed to us for collection within the last 6 years.

The banking information of SC is unknown.

SC’s management declined to release any financial information.

Investigations were made with the local AIC, but the financial records were not available.

SC is considered medium-sized in its line with a development history of 13 years. Due to lack of financial status, we are unable to recommend accurate credit limit for SC.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.93
UK Pound	1	Rs.88.14
Euro	1	Rs.70.87

INFORMATION DETAILS

Report Prepared by :

PDT

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.