MIRA INFORM REPORT

Report Date :

28.05.2012

IDENTIFICATION DETAILS

Name :	CAPILAND INTERNATIONAL CO., LTD.

Registered Office :	4F.-9, No.150, Jilin Rd., Jhongshan District, Taipei City 10459

Country :	Taiwan

Date of Incorporation :	23.06.1998

Com. Reg. No.:	16599550

Legal Form :	Private Limited Liability Company

Line of Business :	Trading of yarn

No. of Employees :	Over 10 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

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)

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:	Capiland International Co., Ltd.
Supplied Name:	Capiland International Co Ltd.
Trading Address:	4F.-9, No.150, Jilin Rd., Jhongshan District, Taipei City 10459, Taiwan (R.O.C.)
Supplied Address:	4F-9, No. 150, Chi Lin Road, Taipei
Telephone Number:	+886-2-2581-3379
Fax Number:	+886-2-2542-8796
E-mail:	capiland@ms81.hinet.net; capiland@gmail.com; girlsmin@hotmail.com

Notes: Subject’s exact name and address are as above.

Credit Summary

Credit Opinion:

Business connections are permissible.

Company Identification Details

Registered Name:	Capiland International CO., Ltd.
Registered Address:	4F.-9, No.150, Jilin Rd., Jhongshan District, Taipei City 10459, Taiwan (R.O.C.)
Date of Foundation:	1998-6-23
Registration Number:	16599550
Registry:	Taipei City Government
Registered Capital:	NTD 16,000,000 (USD 540,800) (As of 2012.05, 1 NTD = 0.0338 USD)
Legal Representatives:	Zhaotang Zhang
Legal Form:	Private Limited Liability Company
Principal Activities:	Trading of yarn
Staff:	Over 10 employees
Listed at Stock Exchange:	No
Date of Last Annual Return:	2011-5-3

History

Subject was incorporated on 1998-6-23 with registered number 16599550 as Private Limited Liability Company in Taiwan.

Shareholders

(Unit: NTD)

Name

Subscription Amount

Zhaotang Zhang

16,000,000

Subsidiaries & Branches

Related Office and agent

1
Address	Shanghai, China
Tel:	+86-21-31052278
Fax:	+86-21-31052290
E-mail:	aileen_jbx@yahoo.com.cn aqmj212@hotmail.com
2
Address:	Karachi.

Personnel Information

Core Management

Director

Name	Zhaotang Zhang
Position	Director

Personnel Structure

Total Employees

Over 10 employees

Operation Information

Offices & Factories

	Headquarters
Add	4F.-9, No.150, Jilin Rd., Jhongshan District, Taipei City 10459, Taiwan (R.O.C.)

Production Information

l Subject is engaged in processing of yarn.

l It is introduced that subject has a processing factory in Taiwan and the factory processes 5~6 containers of yearn one day, but the relevant staff declined to disclose any more details

Purchase Information

l The registered activities of subject:

Business Code	Details
F102030	Wholesales of cigarette and liquor
F104010	Wholesales of fabric
F104040	Wholesales of leather bag, handbag and leather suitcase
F203010	Retails of food and beverage
F203020	Retails of cigarette and liquor
F204010	Retails of fabric
F204040	Retails of leather bag, handbag and leather suitcase
F401010	International Trading Business

l Subject purchases both at home and abroad and it is introduced that subject cooperates with yarn mills in Mid-South Asia and China Mainland area.

Sales Information

l The subject is mainly engaged in sales of spun polyester knitting/weaving yarn, spun polyester sewing thread, OE yarn, poly core spun yarn also including home textiles products such as: Bed linen, Blanket, Pillow and etc

l Subject’s products are mainly sold in overseas market and it is introduced that subject exports to South Korea, Philippine, Bengal, Indonesia, Turkey, European Spain, Germany, etc

Import and export right:

Import right	Yes
Export right	Yes

Settlements

Purchase

Domestic Purchase

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

Foreign Purchase

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

Sales

Domestic Markets

Subject has little domestic sales.

Export

Product	Sales Terms	Proportion
Yarn, etc	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 Ms. Zhan declined to disclose its financials citing the grounds of company’s confidentiality; we found subject’s annual sales from other source as USD 8,000,000, but the information is not confirmed.

Bankers

Name	Taiwan Bank

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. Zhan
Department	Sales department

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.73
UK Pound	1	Rs.87.26
Euro	1	Rs.69.89

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.