MIRA INFORM REPORT

Report Date :

04.10.2012

IDENTIFICATION DETAILS

Name :	DEHOO TECHNOLOGY CO. LTD.
Registered Office :	C/o Conwin Secretarial Ltd. Room 1403, 14/F., Fourseas Building, 208-212 Nathan Road, Tsimshatsui, Kowloon
Country :	Hong Kong
Date of Incorporation :	20.07. 2005
Com. Reg. No.:	35845950
Legal Form :	Private Limited Company
Line of Business :	Importer, Exporter and Wholesaler of Digital Satellite, Cable and Terrestrial receiver products, etc.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	No Operating Office in Hong Kong
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

DEHOO TECHNOLOGY CO. LTD.

Address: c/o Conwin Secretarial Ltd.

Room 1403, 14/F., Fourseas Building,

208-212 Nathan Road,

Tsimshatsui, Kowloon,

Hong Kong.

(Formerly located:

Room 506, 5/F., Leader Commercial Building,

54-56 Hillwood Road, Tsimshatsui,

Kowloon, Hong Kong. )

PHONE: 2429 2299

FAX: 2528 3377

MANAGEMENT

Managing Director: Mr. Fung Ngam, Richard

SUMMARY

Incorporated on: 20th July, 2005.

Organization: Private Limited Company.

Capital: Nominal: HK$10,000.00

Issued: HK$10,000.00

Business Category: Importer, Exporter and Wholesaler.

Employees: Nil.

Main Dealing Banker: DBS Bank (Hong Kong) Ltd., Hong Kong.

Banking Relation: Satisfactory.

ADDRESS

Registered Office:-

c/o Conwin Secretarial Ltd.

Room 1403, 14/F., Fourseas Building, 208-212 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.

Associated Company:-

Shenzhen Dehoo Technology Co. Ltd.

C509, IC Design and Application of Industrial Park, Chaguang Road, Xili, Nanshan District, Shenzhen SEZ, China.

[Tel: 86-755-8835 2978, 8835 2209
Fax: 86-755-88352977
E-mail: richard@szdehoo.com]

Customer Service Centre:-

[Tel: 86-755755-8835 2358, ext 8001
Fax: 86-755-8835 2977
E-mail:service@szdehoo.com]

BUSINESS REGISTRATION NUMBER

35845950

COMPANY FILE NUMBER

0984566

MANAGEMENT

Managing Director: Mr. Fung Ngam, Richard

CAPITAL

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

Issued Share Capital: HK$10,000.00

SHAREHOLDERS

(As per registry dated 20-07-2012)

Name		No. of shares
YANG Liu Chun		8,000
FUNG Ngam		2,000
		–––––
	Total:	10,000 =====

DIRECTORS

(As per registry dated 20-07-2012)

Name (Nationality)	Address
FUNG Ngam	Room G, 13/F., Cherry Mansion, Whampoa Garden, Hunghom, Kowloon, Hong Kong.
YANG Liu Chun	14/F., Jinhong Tower, Shennan West Road, Shenzhen, China.
ZHANG Changping	14/F., Jinhong Tower, Shennan West Road, Shenzhen, China.

SECRETARY

(As per registry dated 20-07-2012)

Name	Address	Co. No.
Conwin Secretarial Ltd.	Room 1403, 14/F., Fourseas Building, 208‑212 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.	0676693

HISTORY

The subject was incorporated on 20th July, 2005 as a private limited liability company under the Hong Kong Companies Ordinance.

Formerly the subject was located at Room 506, 5/F., Leader Commercial Building, 54-56 Hillwood Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in October 2011.

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

OPERATIONS

Activities: Importer, Exporter and Wholesaler.

Lines: Digital Satellite, Cable and Terrestrial receiver products, etc.

Brand Name: Dehoo.

Employees: Nil.

Commodities Imported: China, etc.

Markets: China, Japan, other Asian countries, Europe, etc.

Terms/Sales: L/C or as per contracted.

Terms/Buying: L/C, T/T, D/P, etc.

FINANCIAL INFORMATION

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

Issued Share Capital: HK$10,000.00

Mortgage or Charge: (See attachment)

Profit or Loss: Keeping a balance account.

Condition: Business is not very active.

Facilities: Making fairly active use of general banking facilities.

Payment: Met trade commitments as required.

Commercial Morality: Satisfactory.

Banker: DBS Bank (Hong Kong) Ltd., Hong Kong.

Standing: Small.

GENERAL

Having issued 10,000 ordinary shares of HK$1.00 each, Dehoo Technology Co., Ltd. is jointly owned by Mr. Yang Liu Chun, holding 80% interests; and Mr. Fung Ngam, holding 20%.

The subject does not have its own operating office. Its registered office is in a commercial service firm located at “Room 1403, 14/F., Fourseas Building, 208-212 Nathan Road, Tsimshatsui, Kowloon, Hong Kong” known as “Conwin Secretarial Ltd.” which is handling its correspondences and documents. This firm is also the corporate secretary of the subject.

The subject has no employees in Hong Kong.

The subject has been a leading developer and manufacturer of digital Satellite, Cable and Terrestrial receiver products in China.

The subject’s products includes a variety of DVB-S (FTA, CA, CI), DVB-S2, DVB-T (FTA, CA, HD), DVB-C (FTA, CA), USB, DVB-T, ATSC-T HD, Portable DVB-T, DVB-T for car, DMB, etc.

Most of the products bear the trade mark Dehoo.

The subject’s products have got ISO9001, CE, FCC, and ROHS.

Its products are mainly export to the United Kingdom, Germany, France, Spain, Sweden, Greece, Russia, Ukraine, Australia, the Middle East, South America, etc. Its international markets are over 30 different countries and regions.

The subject’s products are manufactured by its associated company Shenzhen Dehoo Technology Co. Ltd. [Shenzhen Dehoo] which is in Shenzhen SEZ. Your given phone number 86-755-8835 2209 belongs to Shenzhen Dehoo. Your given e-mail richard@szdehoo.com belongs to Mr. Fung Ngam.

In order to penetrate the international market further, the subject has taken part in fairs and exhibitions held in Hong Kong and other foreign large cities.

For instance, it is going to take part in “HKTDC Hong Kong Electronic Fair (Autumn Edition) 2012” which will be held in Hong Kong Convention and Exhibition Centre, Wanchai, Hong Kong during the period of 13th to 16th October, 2012.

The subject’s business in Hong Kong is not active. History in Hong Kong is over seven years.

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.

MORTGAGE OR CHARGE

Date	Particulars	Amount
27-10-2010	Instrument: Charge Over Deposit and Set Off Property: All the Company’s present deposits and or it may subsequently be denominated in, any renewal of such deposit and the interest thereon together with any further monies in any deposit account with the Bank Mortgagee: DBS Bank Ltd., Hong Kong Branch.	1) All sums of money and liabilities owning by the company under the facility letter dated 22-09-2010 (Reference No. 164854/211691/H01/MY) 2) All Principal, interest and other amounts owning by the company to the Bank
27-10-2010	Instrument: Charge on Cash Deposit to secure Liabilities of the Depositor Property: 1) By way of first fixed charge and agreement to charge: the Deposit and all right, title and interest of the Company 2) By way of set-off: any sum standing to the credit of any one or more of the accounts of the Company with the Bank Mortgagee: DBS Bank Ltd., Hong Kong Branch.	All sums of money and liabilities

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.33
UK Pound	1	Rs.84.30
Euro	1	Rs.67.45

INFORMATION DETAILS

Report Prepared by :

PRL

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.