MIRA INFORM REPORT

Report Date :

19.11.2012

IDENTIFICATION DETAILS

Name :	OCP ASIA, INC.

Registered Office :	3F, No. 7, Industry East 9 Rd. Science Based Industrial Park Hsinchu, Taiwan 30070

Country :	Taiwan

Date of Incorporation :	15.11.2000

Com. Reg. No.:	12703238

Legal Form :	Joint Stock Company

Line of Business :	Design, research and development of optical fiber communication active elements, etc

No. of Employees :	Not Available

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 – June 30^th, 2012

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Taiwan

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

Taiwan - ECONOMIC OVERVIEW

Taiwan has a dynamic capitalist economy with gradually decreasing government guidance of investment and foreign trade. In keeping with this trend, some large, state-owned banks and industrial firms have been privatized. Exports, led by electronics, machinery, and petrochemicals have provided the primary impetus for economic development. This heavy dependence on exports exposes the economy to fluctuations in world demand. In 2009, Taiwan's GDP contracted 1.9%, due primarily to a 20% year-on-year decline in exports. In 2010 GDP grew 10.9%, as exports returned to the level of previous years, and in 2011, grew 5.2%. However, 2012 growth will likely be less, according to most forecasters, because of softening global demand. Taiwan's diplomatic isolation, low birth rate, and rapidly aging population are major long-term challenges. Free trade agreements have proliferated in East Asia over the past several years, but so far Taiwan has been excluded from this greater economic integration largely because of its diplomatic status with the exception of the landmark Economic Cooperation Framework Agreement (ECFA) signed with China in June 2010. The MA administration has said that the ECFA will serve as a stepping stone toward trade pacts with other regional partners, and negotiations on a deal with Singapore began this year. Follow-on components of ECFA, including deals on trade in goods, services, and investment, have yet to be completed. Taiwan's Total Fertility rate of just over one child per woman is among the lowest in the world, raising the prospect of future labor shortages, falling domestic demand, and declining tax revenues. Taiwan's population is aging quickly, with the number of people over 65 accounting for 10.9% of the island's total population as of 2011. The island runs a large trade surplus, and its foreign reserves are the world's fourth largest, behind China, Japan, and Russia. Since 2005 China has overtaken the US to become Taiwan's second-largest source of imports after Japan. China is also the island's number one destination for foreign direct investment. Three financial memorandums of understanding, covering banking, securities, and insurance, took effect in mid-January 2010, opening the island to greater investments from the mainland's financial firms and institutional investors, and providing new opportunities for Taiwan financial firms to operate in China. Closer economic links with the mainland bring greater opportunities for the Taiwan economy, but also poses new challenges as the island becomes more economically dependent on China while political differences remain unresolved.

Source : CIA

Contact Points

Company Name:	OCP ASIA, INC.
Supplied Name:	OCP Asia Inc
Trading Address:	3F, No. 7, Industry East 9 Rd. Science Based Industrial Park Hsinchu, Taiwan 30070
Supplied Address:	3F, No. 7, Industry East 9 Rd. Science Based Industrial Park Hsinchu, Taiwan 30070
Telephone Number:	+886-3-5728282/+886-3-666 8850
Fax Number:	+886-3-666 8856
E-mail:	sales@oplink.com

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

Credit Summary

Credit Opinion:

Business connections are permissible.

Company Identification Details

Registered Name:	OCP ASIA, INC.
Registered Address:	3F, No. 7, Industry East 9 Rd. Science Based Industrial Park Hsinchu, Taiwan 30070
Date of Foundation:	2000-11-15
Registration Number:	12703238
Registry:	Science Park Administration
Registered Capital:	NTD 800,000,000 (USD 27,120,000) (As of 2012.11, 1 NTD = 0.0339 USD)
Paid-up Capital:	NTD 196,330,240 (USD 6,655,595)
Legal Representatives:	Guizhang Ding
Legal Form:	Joint Stock Company
Principal Activities:	Design, research and development of optical fiber communication active elements, etc
Staff:	N/A
Listed at Stock Exchange:	No
Date of Last Annual Return:	2010-12-22

Notes: the staff number is not available from subject or other sources.

History

Subject was incorporated on 2000-11-15 with registered number 12703238 as Joint Stock Company in Taiwan.

Shareholders

Name

Subscription Shares

OCP Asia Investment Co., Ltd

19,633,024

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

Subsidiaries & Branches

Contact

Group Headquarters:	46335 Landing Pkwy Fremont, CA 94538 Tel: +1-510-933-7200 Fax: +1-510-933-7300
Optical Communication Products, Inc.	6400 Canoga Ave, Suite 271 Woodland Hills, CA 91367 Tel: +1-818-876-8700
Oplink Zhuhai:	#29, #30 Lianfeng Ave., Free Trade Zone Zhuhai, Guangdong China 519030 Tel: +86-756-868-6865 Fax: +86-756-868-7411
Oplink Shanghai:	Building 6, No. 2465, Hengcang Highway, Jiading District, Shanghai China 201801 Tel: +86-21-3116-9100 Fax: +86-21-3116-0173
Oplink Wuhan:	4F Wujiawan Joint International Building East Lake High-Tech Development Zone Luoyu Rd, Wuhan, Hubei China 430074 Tel: +86-27-87796680 Fax: +86-27-87568732
Oplink Taipei:	5F., No.8, Lane 235, Pao-Chiao Rd., Hsin Tien, Taipei, Taiwan 231 Tel: +886-2-2912 6618 Fax: +886-2-2912 6504
OCP Asia:	3F No.7 Industry E. 9th Road Science Based Industrial Park HsinChu, Taiwan 300 Tel: +886-3-666 8850 Fax: +886-3-666 8856
EMIT Technology:	5F., No.8, Lane 235, Pao-Chiao Rd., Hsin Tien, Taipei, Taiwan 231 Tel: +886-2-2917 4288 Fax: +886-2-2912 6504

It is introduced that subject is a subsidiary of the company OPLINK Communications, Inc. with headquarters in USA, while the details are not disclosed.

Name	OPLINK Communications, Inc
Listed at Stock Exchange:	Yes, NASDAQ:OPLK

Personnel Information

Core Management

Directors

1
Name	Guizhang Ding
Position	Board Chairman
2
Name	Rongmin Zhuang
Position	Director
3
Name	Yanliang Liu
Position	Director
4
Name	Yi Yin
Position	Supervisor
5
Name	Peiling Wu
Position	Supervisor

Operation Information

Offices & Factories

	Headquarters
Add	3F, No. 7, Industry East 9 Rd. Science Based Industrial Park Hsinchu, Taiwan 30070

Production Information

l Subject is engaged in design, development of Optical fiber communication active elements, etc

l It is introduced that subject has OEM factory in the group for manufacturing.

Purchase Information

l The registered activities of subject:

Business Code	Details
CC01080	Manufacture of electronic components
Research, development, design, manufacture and sales of the following items
1	Laser Chips, wafer, Components and single-mode module
2	optical receiving Diode component and module

l Subject purchases raw materials and components both at home and abroad.

Sales Information

l The subject is mainly engaged in sales of optical fiber communication active elements, etc

l Subject also supplies solutions and technology service.

l Subject’s products are both sold in domestic and overseas market and it exports to USA and Japan, etc

l Subject did not introduce its major customers; from other source we can not obtain the relevant information.

Major products and service

Mux/Demux	TFF Platform Fused Fiber Platform AWG Interleaver
Switching/Routing	Switch Circulator
Coupling/Splitting	Power/Tap Couplers WDM And Band Splitters Splitter Modules PLC Platform
Monitoring/Conditioning	Power Monitors VOAs
Amplifications	Fused Bionical Tapered (FBT) Amp Components Isolators/Hybrid Amp Components Thin-Film Filter Amp Components Mini Series Amp Components Raman Amp Components
Polarizations	Polarization Maintaining Components Components
Interconnect	Patchcord Attenuator & Terminator Adapter Connector Distribution Enclosure
Transceivers	CFP XFP SFP+ Video SFP SFP SFF GBIC 1x9/2x9
PON	PON
Transmitters & Receivers	Transmitters & Receivers
HFC/RoF Subsystems	CATV Optical Transmitters CATV Optical Receivers DBS/CATV Optical Tx and Rx
ODM/OEM	ODM/OEM Solutions

Import and export right:

Import right	Yes
Export right	Yes

Settlements

Purchase

Domestic Purchase

Product	Payment Terms	Proportion
Raw materials and components, etc	Credit Sales, Interior Settlement, etc	100%

Foreign Purchase

Product	Payment Terms	Proportion
Raw materials and components, etc	CBD, etc	100%

Sales

Domestic Markets

Product	Sales Terms	Proportion
Optical fiber communication active elements and service, etc	CBD, etc	100%

Export

Product	Sales Terms	Proportion
Optical fiber communication active elements and service, 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 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

Department

Sales department

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 :

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.