MIRA INFORM REPORT

Report Date :

17.11.2012

IDENTIFICATION DETAILS

Name :	SHREE SANT KRIPA ELECTRONICS (HK) LTD.
Registered Office :	c/o Macro Solutions Ltd., Flat G, 7/F., Block 1, Royal Peninsula, 8 Hung Lai Road, Kowloon
Country :	Hong Kong
Date of Incorporation :	22.06.2012
Com. Reg. No.:	59996953
Legal Form :	Private Limited Company
Line of Business :	Importer, Exporter and Wholesaler of All kinds of mobile phone, etc.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

NB

RATING		STATUS	PROPOSED CREDIT LINE
--	NB	New Business	--

Status :	New Business
Payment Behaviour :	Unknown
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 – June 30^th, 2012

Country Name	Previous Rating (31.03.2011)	Current Rating (30.06.2012)
Hong Kong	A2	A2

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

Hong Kong - ECONOMIC OVERVIEW

Hong Kong has a free market economy, highly dependent on international trade and finance - the value of goods and services trade, including the sizable share of re-exports, is about four times GDP. Hong Kong's open economy left it exposed to the global economic slowdown that began in 2008. Although increasing integration with China, through trade, tourism, and financial links, helped it to make an initial recovery more quickly than many observers anticipated, it again faces a possible slowdown as exports to the Euro zone and US slump. The Hong Kong government is promoting the Special Administrative Region (SAR) as the site for Chinese renminbi (RMB) internationalization. Hong Kong residents are allowed to establish RMB-denominated savings accounts; RMB-denominated corporate and Chinese government bonds have been issued in Hong Kong; and RMB trade settlement is allowed. The territory far exceeded the RMB conversion quota set by Beijing for trade settlements in 2010 due to the growth of earnings from exports to the mainland. RMB deposits grew to roughly 7.8% of total system deposits in Hong Kong by the end of 2011, an increase of over 59% since the beginning of the year. The government is pursuing efforts to introduce additional use of RMB in Hong Kong financial markets and is seeking to expand the RMB quota. The mainland has long been Hong Kong's largest trading partner, accounting for about half of Hong Kong's exports by value. Hong Kong's natural resources are limited, and food and raw materials must be imported. As a result of China's easing of travel restrictions, the number of mainland tourists to the territory has surged from 4.5 million in 2001 to 28 million in 2011, outnumbering visitors from all other countries combined. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2011 mainland Chinese companies constituted about 43% of the firms listed on the Hong Kong Stock Exchange and accounted for about 56% of the Exchange's market capitalization. During the past decade, as Hong Kong's manufacturing industry moved to the mainland, its service industry has grown rapidly. Growth slowed to 5% in 2011. Credit expansion and tight housing supply conditions caused Hong Kong property prices to rise rapidly in 2010 and inflation to rise 5.3% in 2011. Lower and middle income segments of the population are increasingly unable to afford adequate housing. Hong Kong continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.

Source : CIA

Company name and address

SHREE SANT KRIPA ELECTRONICS (HK) LTD.

ADDRESS

c/o Macro Solutions Ltd.

Flat G, 7/F., Block 1, Royal Peninsula, 8 Hung Lai Road, Kowloon, Hong Kong.

PHONE: 6603 8340

FAX: 3909 3390

E-MAIL: brbajaj@macrosolutions.com.hk

MANAGEMENT

Managing Director: Mr. Rajesh Uttamchandani

SUMMARY

Incorporated on: 22nd June, 2012.

Organization: Private Limited Company.

Capital: Nominal: HK$100,000.00

Issued: HK$100,000.00

Business Category: Importer, Exporter and Wholesaler.

Employees: Nil.

Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Banking Relation: Satisfactory.

Company name and address

SHREE SANT KRIPA ELECTRONICS (HK) LTD.

ADDRESS

Registered Head Office:-

c/o Macro Solutions Ltd.

Flat G, 7/F., Block 1, Royal Peninsula, 8 Hung Lai Road, Kowloon, Hong Kong.

Holding Company:-

Shree Sant Kripa Appliances Private Ltd., India.

Associated Companies:-

Bagh Bahar Appliances Pvt. Ltd., India.

SSK Fruits & Farms Pvt. Ltd., India.

SSK Group of Companies

SSK Infotech Pvt. Ltd., India.

SSK Infrastructures, India.

SSK Retails Ltd., India.

BUSINESS REGISTRATION NUMBER

59996953

COMPANY FILE NUMBER

1764070

MANAGEMENT

Managing Director: Mr. Rajesh Uttamchandani

CAPITAL

Nominal Share Capital: HK$100,000.00 (Divided into 100,000 shares of HK$1.00 each)

Issued Share Capital: HK$100,000.00

SHAREHOLDER

(As per registry dated 22-06-2012)

Name	No. of shares
Shree Sant Kripa Appliances Private Ltd. 7 Akshay Complex, Dhole Patil Road, Pune, India-411001.	100,000 ======

DIRECTORS

(As per registry dated 22-06-2012)

Name (Nationality)	Address
Govind Jeevan UTTAMCHANDANI	A-6, Clover Gardens, 4 Naylor Road, Pune, Maharashtra 411001, India.
Rajesh UTTAMCHANDANI	A-6, Clover Gardens, 4 Naylor Road, Pune, Maharashtra 411001, India.

SECRETARY

(As per registry dated 22-06-2012)

Name	Address	Co. No.
Macro Solutions Ltd.	Flat G, 7/F., Block 1, Royal Peninsula, 8 Hung Lai Road, Kowloon, Hong Kong.	1216317

HISTORY

The subject was incorporated on 22nd June, 2012 as a private limited liability company under the Hong Kong Companies Ordinance.

Apart from these, neither material change nor amendment has been ever traced and noted.

OPERATIONS

Activities: Importer, Exporter and Wholesaler.

Lines: All kinds of mobile phone, etc.

Employees: Nil.

Commodities Imported: South Korea, other Asian countries, etc.

Markets: India, etc.

Terms/Sales: As per contracted.

Terms/Buying: As per contracted.

FINANCIAL INFORMATION

Nominal Share Capital: HK$100,000.00 (Divided into 100,000 shares of HK$1.00 each)

Issued Share Capital: HK$100,000.00

Profit or Loss: Too early to offer an opinion.

Condition: Business is under development.

Facilities: Is making use of general banking facilities.

Payment: Met trade commitments as required.

Commercial Morality: Satisfactory.

Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Standing: Small.

GENERAL

Having issued 100,000 ordinary shares of HK$1.00 each, Shree Sant Kripa Electronics (HK) Ltd. is a wholly owned subsidiary of Shree Sant Kripa Appliances Private Ltd. [SSK] which is an India-based firm.

The directors of the subject are Mr. Govind Jeevan Uttamchandani and Mr. Rajesh Uttamchandani. They are India passport holders.

The subject does not have its own operating office. Its registered office is in a commercial service firm located at Flat G, 7/F., Block 1, Royal Peninsula, 8 Hung Lai Road, Kowloon, Hong Kong known as Macro Solutions Ltd. [MSL] which is handling its correspondences and documents. MSL is also the corporate secretary of the subject. It is operated by Mr. Bajaj Balwant Rai who is also an Indian. Currently, he is residing in the above-mentioned address.

The subject has no employees in Hong Kong. It is engaged in the same lines of business as SSK. It is a mobile phone trader, so does SSK.

Govind Jeevan Uttamchandani is also the Managing Director of SSK.

Belkin India, a leading provider of interconnectivity solutions across computing and consumer electronic devices, announced SSK as the regional distributor for West India for the company’s range of mobility products.

Under the terms of the agreement, SSK, an official distributor of a wide variety of telecom products for international vendors, is distributing Belkin’s accessories designed especially for Samsung, along with Conserve Valet, range of Power Packs and overlays, to name a few. With the increasing popularity and acceptance of smart-phones and tablets, this relationship will facilitate availability of Belkin products through a strong network.

Belkin is recognized as the Samsung Mobile Accessories Preferred Partner. Under this partnership, Belkin is helping Samsung accelerate growth in the mobile space. Belkin designs specially crafted “Designed for Samsung Mobile” accessories, for the Samsung Galaxy Tab and Galaxy S2 and now Galaxy Note and Samsung Google Nexus. The accessories will include protective cases & covers, screen overlays and home and car charger.

Now, SSK is the regional distributor for Samsung mobiles in West India (Maharashtra, Gujarat, Madhya Pradesh, Goa, and Chhattisgarh). SSK has a had about 22,000 affiliated stores and has manpower of 1,400 people.

Since its entry into the India market in 2009, Belkin has successfully established itself as a preferred and competitive brand across their wide range of products. This agreement with SSK will take Belkin’s success to the next level. With this association, Belkin will be able to further explore the untapped potential of the India market and capture a bigger market share.

Belkin India offers an extensive range of innovations, designed to give computer and consumer electronics users seamless integration in their homes, cars and on the go. Belkin, a privately held company founded in California in 1983, is the recognized global leader in connectivity solutions. Belkin is one of the fastest growing, privately held multinational corporations in the world.

The subject is a member of SSK. History in Hong Kong is just over four months.

Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on L/C basis.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.99
UK Pound	1	Rs.87.21
Euro	1	Rs.70.22

INFORMATION DETAILS

Report Prepared by :

SDA

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.