MIRA INFORM REPORT

Report Date :

23.11.2012

IDENTIFICATION DETAILS

Name :	MALCA-AMIT GLOBAL LTD.

Formerly Known As :	Malca-Amit Hong Kong Ltd.

Registered Office :	Suite 1101, 11/F., Miramar Tower, Kimberley Road, Tsimshatsui, Kowloon

Country :	Hong Kong

Date of Incorporation :	21.11.1978

Com. Reg. No.:	05840948

Legal Form :	Private Limited Company.

Line of Business :	Freight forwarding and logistic service provider

No. of Employees :	150. (Including branch offices)

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)

Hong Kong

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

MALCA-AMIT GLOBAL LTD.

Company ADDRESS

Suite 1101, 11/F., Miramar Tower, Kimberley Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE: Not available

MANAGEMENT

Managing Director: Mr. Nigel Richard Paxman

SUMMARY

Incorporated on: 21st November, 1978.

Organization: Private Limited Company.

Capital: Nominal: HK$10,000.00

Issued: HK$6.00

Business Category: Freight forwarding and logistic service provider.

Employees: 150. (Including branch offices)

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

Banking Relation: Good.

Company aDDRESS

Registered Office:-

Suite 1101, 11/F., Miramar Tower, Kimberley Road, Tsimshatsui, Kowloon, Hong Kong.

Head Office:-

Suite 1101-8, Tower 3, China Hong Kong City, 33 Canton Road, Tsim Sha Tsui, Kowloon, Hong Kong.

[Tel: +852 2524 3161 Fax: +852 2810 6732

E-mail: info.hkg@malca-amit.com ]

Central Branch Office:-

20/F, Club Lusitano, 16 Ice House Street, Central, Hong Kong.

[Tel: +852 3695 2400 Fax: +852 3549 6461]

Hunghom Branch Office:-

Unit 1105-6, Block A, Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kowloon., Hong Kong.

[Tel: +852 2185 6004 Fax: +852 2185 7713]

Associated Companies:-

l Beijing Malca-Amit Trading Co. Ltd., China.

l Gem Lab Services Antwerp BVBA, Belgium.

l Guangzhou Malca-Amit International Freight Forwarding Co. Ltd., China.

l M.A. Lanka (Pte) Ltd., Lanka.

l Malca Amit International Freight Forwarding Co. Ltd., China.

l Malca-Amit (Germany) GmbH, Germany.

l Malca-Amit (NWT) Ltd., Canada.

l Malca-Amit (Shanghai) Trading Co. Ltd., China.

l Malca-Amit (Thailand) Ltd., Thailand.

l Malca-Amit Antwerp BVBA, Belgium.

l Malca-Amit Armored Inc., US.

l Malca-Amit Botswana (Pty) Ltd., Botswana.

l Malca-Amit Canada Inc., Canada.

l Malca-Amit Commodities Ltd., Hong Kong. (same address)

l Malca-Amit Customs House Brokers Inc., US.

l Malca-Amit Far East Ltd., Hong Kong. (same address)

l Malca-Amit Far East Trading Ltd., Hong Kong.

l Malca-Amit Japan Co. Ltd., Japan.

l Malca-Amit JK Logistics Pvt. Ltd., India.

l Malca-Amit Ltd., Israel.

l Malca-Amit North America Inc., US.

l Malca-Amit S.A., Switzerland.

l Malca-Amit Security Control Ltd., Hong Kong. (same address)

l Malca-Amit Security Precious Metals Ltd., Hong Kong. (same address)

l Malca-Amit Security Services Inc., US.

l Malca-Amit Singapore Pte. Ltd., Singapore.

l Malca-Amit South Africa Ltd., South Africa.

l Malca-Amit UK Ltd., UK.

l Malca-Amit USA LLC., US.

l Shanghai Malca-Amit Jewellery Trading Co. Ltd., China.

etc.

BUSINESS REGISTRATION NUMBER

05840948

COMPANY FILE NUMBER

0065663

MANAGEMENT

Managing Director: Mr. Nigel Richard Paxman

CAPITAL

Nominal Share Capital: HK$10,000.00 (Divided into 2 Class A shares and 2 Class B shares and 2 Ordinary

shares of HK$1.00 each)

Issued Share Capital: HK$6.00

SHAREHOLDERS

(As per registry dated 21-11-2011)

Name		No. of shares
		Class A	Class B	Ordinary
Raphael AMIT		2		1
Malca TYKOCINSKI			2	1
		–	–	–
	Total:	2 =	2 =	2 =

DIRECTORS

(As per registry dated 22-06-2012)

Name (Nationality)	Address
Ilan AMIT [formerly known as Elan AMIT]	40th Shderot Chen Tel Aviv Yafo, Israel.
Nigel Richard PAXMAN	Room 3637, 36/F., Four Seasons Place Hong Kong, 8 Finance Street, Hong Kong.
Raphael Harry AMIT	110 South Front Street, Apartment 1200, Philadelphia PA 19109, US.

SECRETARY

(As per registry dated 21-11-2011)

Name	Address	Co. No.
TMF Secretarial Service Ltd.	36/F., Tower Two, Times Square, 1 Matheson Street, Causeway Bay, Hong Kong.	0776802

HISTORY

The subject was incorporated on 21st November, 1978 as a private limited liability company under the Hong Kong Companies Ordinance.

Originally the subject was registered under the name of Westripp Trading Co. Ltd., name changed to Malca-Amit Hong Kong Ltd. on 9th February, 1979 and further to the present style on 3rd January, 2011.

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

OPERATIONS

Activities & Lines: Freight forwarding and logistic service provider.

Employees: 150. (Including branch offices)

Commodities Imported: India, Europe, Asian countries, etc.

Business Territories: Hong Kong, China, other Asian countries, Europe, North America, etc.

Terms/Sales/Services: As per contracted.

Terms/Buying: As per contracted.

FINANCIAL INFORMATION

Nominal Share Capital: HK$10,000.00 (Divided into 2 Class A shares and 2 Class B shares and 2 Ordinary

shares of HK$1.00 each)

Issued Share Capital: HK$6.00

Mortgage or Charge: (See attachment)

Profit or Loss: Making a small profit every year.

Condition: Keeping in an active manner.

Facilities: Making rather active use of general banking facilities.

Payment: Met trade commitments as required.

Commercial Morality: Satisfactory.

Bankers:-

l The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

l Deutsche Bank Aktiengesellschaft, Hong Kong Branch.

Standing: Good.

GENERAL

Malca-Amit Global Ltd. is equally-owned by Mr. Raphael Amit and Mr. Malca Tykocinski both of whom are Israeli. The managing director of the subject Nigel Richard Paxman is a UK passport holder as well as a Hong Kong ID holder. He has got the right to reside in Hong Kong permanently.

The subject has got an associated company Malca-Amit Far East Ltd. [MAFE] which is also located at the same address. The subject and MAFE are engaged in the same lines of business.

Having established in Hong Kong for more than 33 years, the subject has earned the reputation of being a reliable and trusted company when it comes to shipping valuables overseas.

The subject is a member of the Malca-Amit Group [Malca-Amit/Group].

With a global network of offices, Malca-Amit is represented in most of the cities and countries which are important to the valuable commodities business. Its secure delivery service has gained high acclaims over the years for its security, timeliness and cost-effectiveness.

In 1963, Mr Raphael Amit established a small office in Tel Aviv Israel, providing typing services for export papers. At this time, valuables exported from Israel were simply sent by regular mail accompanied by export documents. The office was run by his wife, Rachel Amit and her sister, Malca Tykocinski.

When the diamond business moved from Tel Aviv and made its home in Ramat-Gan, the office began shipping valuable airfreight shipments. That was the company’s first step into the world of shipping.

In 1979, the Israeli government prohibited diamond shipments via mail as many diamonds were disappearing en route. Rafi Amit, along with his wife and sister-in-law, formally defined Malca-Amit as a shipping company and opened the first Malca-Amit office outside of Israel in Hong Kong. They began shipping diamonds and high valuables in a safe and secure manner. The company’s international growth was fast.

Offices were opened one after the other as the demand for secure, professional and expedient logistical solutions grew in tandem with the growing scope of the international diamond, jewellery, and precious cargo industries. New York, Antwerp, Los Angeles, and London, soon became home to Malca-Amit offices. Today Malca-Amit’s network spans the globe.

As it entered the 21st century, Malca-Amit has expanded its service offering beyond standard secured and liability door-to-door delivery. In recent years, trade show logistics solutions has become an important part of its business. Other services that Malca-Amit offers include: bonded warehousing, private trade-show organization and inspections. However, it is specialized in Worldwide Valuables Secured Delivery Service.

On 1st March, 2011, Malca-Amit was accepted as an Ordinary Member of The London Bullion Market Association [LBMA]. The LBMA, established in 1987, is the world’s leading OTC [Over-The-Counter] Market for gold and silver with members compromising the majority of the commercial banks who manage physical gold, refiners, mints, assayers, logistics and secure‑storage providers.

Malca-Amit provides comprehensive and competitive solutions for corporations, wealth managers, banks and high-net-worth individuals looking to source, transport and store gold, silver and other precious metals. Malca‑Amit ensures the optimum conditions for gold investments every step of the way with storage at the company’s state-of-the-art secured facilities in Singapore, New York, Zurich, Bangkok and London. In response to market demand, it is proposing to open an additional vault at Hong Kong airport by the end of 2012.

The business of the subject is active.

On the whole, consider the subject good for normal business engagements.

MORTGAGE OR CHARGE

Date	Particulars	Amount
03-06-1996	Instrument: Deed of Charge Over Credit Balance Property: All sums of money deposited or paid by the Company to the credit of the Company’s account with Barclays Bank PLC No. 40895156 & deposited or paid by the Company with or to the Bank or held by the Bank on behaof of the Company now or at any time during the currency of theis security Mortgagee: Barclays Bank PLC, 99 Hatton Garden London.	Credit and banking facilities
02-10-2008	Instrument: Security Over Deposits with the Bank Property: Initially US$38,500 or equivalent & all monies whether now or hereafter standing to the credit of the Company’s deposit with the Bank under deposit No. 178-695730-838 and whatever currency it may subsequently by denominated in, any renewal of such deposit & the interest thereon together with any further moneys in any deposit account with the Bank at any of its offices Mortgagee: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.	To secure all monies in respect of banking facilities owing at any time plus interest and all expenses
25-03-2011	Instrument: Assignment of Term Deposit Property: By way of assignment & charge of the Deposit (i) All the deposit of the Borrower at the date of the Assignment or thereafter placed with the Bank at its Hong Kong Branch in Deposit Account No. 0019521-05-2 to the extent of US$15,000,000.00 & and renewal or extension thereof; (ii) Any other amount or amount deposit with the Bank after the date of the Assignment from time to time either in substitution for or in addition to the aforementioned deposit, and (iii) All interest accrued and accruing on the aforesaid sums from time to time Mortgagee: Deutsche Bank Aktiengesellschaft, Hong Kong Branch.	To secure the discharge and satisfaction of the Liabilities

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.16
UK Pound	1	Rs.88.03
Euro	1	Rs.70.86

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.