MIRA INFORM REPORT

Report Date :

20.02.2013

IDENTIFICATION DETAILS

Name :	FUTURE EXPORTS

Registered Office :	Flat D, 2/F., Right Time Building, 21-27 Playing Field Road, Mong Kok, Kowloon

Country :	Hong Kong

Date of Incorporation :	05.10.2010

Com. Reg. No.:	53057296-000-10

Legal Form :	Sole Proprietorship

LINE OF BUSINESS :	IT WAS A TRADING COMPANY. IT TRADED IN THE FOLLOWING COMMODITIES:- HANDBAGS, ELECTRONIC PRODUCTS, PLASTIC PRODUCTS, SOFT DRINKS, CANNED FOOD, CANDY, SEASONING AND GOURMET, WINES, FOOTWEAR, ACCESSORIES, ETC.

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	Business Ceased
Payment Behaviour :	---
Litigation :	---

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

FUTURE EXPORTS

Company ADDRESS

Registered Office:-

c/o Excellence Co. (O/B Excellence Group Ltd.)

Flat D, 2/F., Right Time Building, 21-27 Playing Field Road, Mong Kok, Kowloon, Hong Kong.

BUSINESS REGISTRATION NUMBER

53057296-000-10

DATE OF ESTABLISHMENT

5th October, 2010.

LEGAL FORM

Sole Proprietorship

MANAGEMENT

Manager: Mr. Anil Kumar Jain

SOLE PROPRIETOR

Name: Mr. Anil Kumar JAIN

Residential Address:

Dalghia Mohallo Mahidharpura Surat Maharashtra 395007, India.

GENERAL

Please be advised that Future Exports has ceased business since 30th September, 2011.

The subject was a sole proprietorship set up on 5th October, 2010 and owned by Mr. Anil Kumar Jain under the Hong Kong Business Registration Regulations. Jain is an Indian holding an India passport and does not have the right to reside in Hong Kong permanently.

The subject did not have its own operating office. Its registered office was in a commercial service firm located at “Flat D, 2/F., Right Time Building, 21‑27 Playing Field Road, Mong Kok, Kowloon, Hong Kong” known as “Excellence Co.” (O/B Excellence Group Ltd.) which had handled its correspondences and documents.

The subject had no employees in Hong Kong.

It was a trading company. It traded in the following commodities:-

Handbags, Electronic Products, Plastic Products, Soft Drinks, Canned Food, Candy, Seasoning and Gourmet, Wines, Footwear, Accessories, etc.

Most of the products were sourced from China, other Asian countries or acquired from local suppliers.

On 30th September, 2011 the subject ceased business formally. Its history in Hong Kong was just about a year.

Since the subject has ceased business, consider it not suitable for any business engagements.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.28
UK Pound	1	Rs.84.09
Euro	1	Rs.72.44

INFORMATION DETAILS

Report Prepared by :

PDT

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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