MIRA INFORM REPORT

Report Date :

27.10.2012

IDENTIFICATION DETAILS

Name :	ALOVERA EXPORTS CO. LTD.
Registered Office :	c/o Hongkong King&Krin Business Ltd., Room 905, Workingberg Commercial Building, 41-47 Marble Road
Country :	Hong Kong
Date of Incorporation :	02.09.2009
Com. Reg. No.:	51106326
Legal Form :	Private Limited Company
Line of Business :	Importer, Exporter and Wholesaler of Textile 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 (31.03.2012)	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

ALOVERA EXPORTS CO. LTD.

Company ADDRESS

c/o Hongkong King&Krin Business Ltd.

Room 905, Workingberg Commercial Building, 41-47 Marble Road, Hong Kong.

PHONE: 2811 3620

FAX: 2811 3621

E-MAIL: alovera_exports@yahoo.com

MANAGEMENT

Managing Director: Mr. Sajnani Deepak Kumar

SUMMARY

Incorporated on: 2nd September, 2009.

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: Bank of China (Hong Kong) Ltd., Hong Kong.

Banking Relation: Satisfactory.

Company ADDRESS

Registered Office:-

c/o Hongkong King&Krin Business Ltd.

Room 905, Workingberg Commercial Building, 41-47 Marble Road, Hong Kong.

Associated Companies:-

MyStery (UK) International Group Ltd., UK.

Shaoxing Alovera Exports Co. Ltd., China.

BUSINESS REGISTRATION NUMBER

51106326

COMPANY FILE NUMBER

1369229

MANAGEMENT

Managing Director: Mr. Sajnani Deepak Kumar

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 02-09-2012)

Name		No. of shares
Chander Khialdas DEVJANI		5,000
Sajnani DEEPAK KUMAR		5,000
		^_________
	Total:	10,000 =====

DIRECTOR

(As per registry dated 02-09-2012)

Name (Nationality)	Address
Sajnani DEEPAK KUMAR	Padam Nagarkhandwa M.P. India.

SECRETARY

(As per registry dated 02-09-2011)

Name	Address	Co. No.
Hongkong King&Krin Business Ltd.	Room 905, Workingberg Commercial Building, 41-47 Marble Road, Hong Kong.	0996994

HISTORY

The subject was incorporated on 2nd September, 2009 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: Textile products, etc.

Employees: Nil.

Commodities Imported: China, etc.

Markets: India, other Asian countries, 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

Profit or Loss: Keeping a balance account in Hong Kong.

Condition: Business is not active in Hong Kong.

Facilities: Making fairly active use of general banking facilities.

Payment: Met trade commitments as required.

Commercial Morality: Satisfactory.

Banker: Bank of China (Hong Kong) Ltd., Hong Kong.

Standing: Small.

GENERAL

Having issued 10,000 ordinary shares of HK$1.00 each, Alovera Exports Co. Ltd. is equally owned by Mr. Chander Khialdas Devjani and Mr. Sajnani Deepak Kumar. Both are India. Being India passport holders, they do not have the right to reside in Hong Kong permanently. They were also directors of the subject. However, in September 2012 Chander Khialdas Devjani retired. Now, the only director of the subject is just Sajnani Deepak Kumar.

The subject does not have its own operating office. Its registered office is in a commercial service firm located at Room 905, Workingberg Commercial Building, 41-47 Marble Road, Hong Kong known as Hongkong King&Krin Business Ltd. [King&Krin] which is handling its correspondences and documents. King&Krin is also the corporate secretary of the subject.

The subject has no employees in Hong Kong.

Your given phone and fax number 2811 3620 and 2811 3621 respectively belong to King&Krin.

Your given another phone number 86-159-2585 7498 is a China mobile phone line. This line belongs to Mr. Sajnani Deepak Kumar. We can reach him at this phone number.

According to Kumar, he has got a firm in Shaoxing City, Zhejiang Province, China known as Shaoxing Alovera Exports Co. Ltd. [Shaoxing Alovera]. Shaoxing Alovera is also owned and operated by the shareholders of the subject. Shaoxing Alovera is a textile product trader. It is trading in all kinds of home textile products. Most of the commodities are sourced from the suppliers of Shaoxing City. Currently, Shaoxing Alovera has five employees in China. The prime markets are India, other Asian countries and Europe.

Apart from the subject, Chander Khialdas Devjani has set up a firm known as MyStery (UK) International Group Ltd. [MyStery] in the United Kingdom. It is a home textile product trader.

Shaoxing Alovera is also the sole agent of MyStery’s products in China. Most of the commodities are claimed to be high-end and made in the United Kingdom.

Shaoxing Alovera is responsible for marketing MyStery’s products in Shanghai, and Eastern China.

The subject’s business in Hong Kong is not active. History in Hong Kong is about three 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 secured basis.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.63
UK Pound	1	Rs.86.18
Euro	1	Rs.69.75

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.