MIRA INFORM REPORT

Report Date :

26.11.2012

IDENTIFICATION DETAILS

Name :	CITICO CORPORATION LTD.
Registered Office :	Unit B, 6/F., Kam Wing Commercial Building, 28 Maiden Avenue, Tsimshatsui, Kowloon
Country :	Hong Kong
Date of Incorporation :	03.09.2012
Com. Reg. No.:	60307991
Legal Form :	Private Limited Company
Line of Business :	subject is trading in all kinds of mobile phones and accessories, electronic products, etc.
No. of Employees :	01 employee

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 (31.03.2012)	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

CITICO CORPORATION LTD.

Company ADDRESS

Unit B, 6/F., Kam Wing Commercial Building, 28 Maiden Avenue, Tsimshatsui, Kowloon, Hong Kong.

PHONE: 5165 1624

MANAGEMENT

Managing Director: Mr. Mohiadeen Samusi Mahamoothu Lebbai

SUMMARY

Incorporated on: 3rd September, 2012.

Organization: Private Limited Company.

Capital: Nominal: HK$10,000.00

Issued: HK$1.00

Business Category: Importer, Exporter and Wholesaler.

Employees: 1.

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

Banking Relation: Too early to comment.

Company ADDRESS

Registered Head Office:-

Unit B, 6/F., Kam Wing Commercial Building, 28 Maiden Avenue, Tsimshatsui, Kowloon, Hong Kong.

BUSINESS REGISTRATION NUMBER

60307991

COMPANY FILE NUMBER

1795027

MANAGEMENT

Managing Director: Mr. Mohiadeen Samusi Mahamoothu Lebbai

CAPITAL

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

Issued Share Capital: HK$1.00

SHAREHOLDER

(As per registry dated 03-09-2012)

Name	No. of share
Company Kit Secretarial Services Ltd., Hong Kong.	1 =

DIRECTOR

(As per registry dated 12-09-2012)

Name (Nationality)	Address
Mohiadeen SAMUSI MAHAMOOTHU LEBBAI	97, Naina Street, Kayalpatnam, Thoothukudi 628204, India.

SECRETARY

(As per registry dated 12-09-2012)

Name	Address	Co. No.
Hashmi Secreetarial Services Ltd.	Unit B, 3/F., Chun Wan Commercial Building, 30 Minden Avenue, Tsimshatsui, Kowloon, Hong Kong.	0770656

HISTORY

The subject was incorporated on 3rd September, 2012 as a private limited liability company under the Hong Kong Companies Ordinance.

Formerly the subject was located at Unit A, 3/F., Cheong Sun Tower 116‑118 Wing Lok Street, Sheung Wan, Hong Kong where is the operating office of a commercial service provider Company Kit Secretarial Services Ltd. It moved to the present address with effect from 12th September, 2012.

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

OPERATIONS

Activities: Importer, Exporter and Wholesaler.

Lines: Mobile Phones, Electronic Products, etc.

Employees: 1.

Commodities Imported: China, other Asian countries, etc.

Markets: India, Singapore, other Asian countries, etc.

Terms/Sales: As per contracted.

Terms/Buying: Prepayment, L/C, etc.

FINANCIAL INFORMATION

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

Issued Share Capital: HK$1.00

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: Too early to comment.

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

Standing: Small.

GENERAL

Having issued just one ordinary share of HK$1.00 each, Citico Corporation Ltd. is wholly owned by Company Kit Secretarial Services Ltd. [Company Kit] which is a Hong Kong-registered firm. Formerly the subject was located at the operating office of Company Kit.

The only director of the subject Mohiadeen Samusi Mahamoothu Lebbai is an India passport holder and does not have the right to reside in Hong Kong permanently.

Business commenced in September 2012, the subject is trading in all kinds of mobile phones and accessories, electronic products, etc. Most of the products are sourced from China. Prime markets are India, Singapore, other Asian countries, etc.

We were able to reach Samusi Mahamoothu Lebbai at your given phone number (852) 5165 1624.

The subject’s business is under development. History in Hong Kong is just over two months.

On the whole, since the history of the subject is short, consider it good for normal business engagements on secured basis.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.34
UK Pound	1	Rs.88.30
Euro	1	Rs.71.37

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%)

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