MIRA INFORM REPORT

Report Date :

21.02.2013

IDENTIFICATION DETAILS

Name :	SUNLIGHT LTD - MACAO COMMERCIAL OFFSHORE

Registered Office :	Macau Finance Center 244-246 Rua De Pequim 16 Andar M, Andar

Country :	Macao

Date of Incorporation :	04.02.2004

Com. Reg. No.:	SO18126

Legal Form :	Private Company With Limited Liability

Line of Business :	Specialized professional services, including Intermediary services, Management consultancy

No. of Employees :	5

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
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)

Macau

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

MACAU - ECONOMIC OVERVIEW

After opening up its locally-controlled casino industry to foreign competition in 2001, the territory attracted tens of billions of dollars in foreign investment, transforming Macau into one of the world's largest gaming centers. Macau's gaming and tourism businesses were fueled by China's decision to relax travel restrictions on Chinese citizens wishing to visit Macau. By 2006, Macau's gaming revenue surpassed that of the Las Vegas strip, and gaming-related taxes accounted for more than 70% of total government revenue. In 2008, Macau introduced measures to cool the rapidly developing sector. Macau's economy slowed dramatically in 2009 as a result of the global economic slowdown, but strong growth resumed in 2010-11, largely on the back of tourism from mainland China and the gaming sectors. This city of 550,000 hosted nearly 25 million visitors in 2010. Almost 53% came from mainland China. Macau's traditional manufacturing industry slowed greatly since the termination of the Multi-Fiber Agreement in 2005. The Closer Economic Partnership Agreement (CEPA) between Macau and mainland China that came into effect in January 2004 offers Macau-made products tariff-free access to the mainland; nevertheless, China is Macau's second largest goods export market, behind Hong Kong, and followed by the United States. However, exports in 2010 were less than US$900 million, while gaming receipts were almost US$24 billion, a 58% increase over 2009. Macau's economy expanded at a slower pace in 2012 - around 10% - reflecting continued global economic uncertainties. Macau continues to face the challenges of managing its growing casino industry, money-laundering, and the need to diversifying the economy away from heavy dependence on gaming revenues. Macau's currency, the pataca, is closely tied to the Hong Kong dollar, which is also freely accepted in the territory.

Source : CIA

Company name and address

SUNLIGHT LTD - MACAO COMMERCIAL OFFSHORE

MACAU FINANCE CENTER 244-246 RUA DE PEQUIM

16 ANDAR M, ANDAR, MACAO

TEL: [+853]-28705079

FAX: N/A

EXECUTIVE SUMMARY

INCORPORATION DATE : FEB. 4, 2004

REGISTRATION NO. : SO18126

LEGAL FORM : PRIVATE COMPANY WITH LIMITED LIABILITY

CHIEF EXECUTIVE : MR. CHENG-HSIUNG CHEN (DIRECTOR)

STAFF STRENGTH : 5

PAID-UP CAPITAL : MOP 100,000

BUSINESS LINE : SERVICE

TURNOVER : N/A

EQUITIES : N/A

PAYMENT : FAIR

MARKET CONDITION : AVERAGE

FINANCIAL CONDITION : N/A

OPERATIONAL TREND : FAIRLY STEADY

GENERAL REPUTATION : AVERAGE

EXCHANGE RATE : MOP 7.98697 = US$1

Adopted abbreviations:

ANS - amount not stated

NS - not stated

SC - subject company (the company inquired by you)

NA - not available

M - million

MOP- Macau Pataca

Name in Local Language : 旭籐有限公司 - 澳門離岸商業服務

Trading Name / DBA : SUNLIGHT LTDA - COMERCIAL OFFSHORE DE MACAU

Issuing Authority: Conservatoria dos Registos Comercial e de Bens Moveis (Commercial Registry Office)

* CAPITAL (Currency: MOP - Macau Patacas)

==================================

Authorized Capital: 100,000

Paid-up Capital: 100,000

*OFFICE & FACILITIES*

====================

Name : SUNLIGHT LTD - MACAO COMMERCIAL OFFSHORE - ANDAR, MACAO

Building Size : 400 Square feet

Employees : 5

Address : Macau Finance Center 244-246 Rua De Pequim 16 Andar M, Andar, Macao

Country : Macao

Status : Operational

*REPUTATION*

=============

Reference checking for the purpose of establishing the SUNLIGHT LTD - MACAO COMMERCIAL OFFSHORE's reputation within the respective industry failed to reveal any adverse information.

SC is not known to host website of its own at present.

For the past two years there is no record of litigation.

*Major Shareholders*

================

Total number of shareholders: 1

Total number of shares: N/A

Shareholders Country Amount (MOP) %

GOOD VICTORY INVESTMENTS LTD Samoa 100,000 100.00

*COMPANY DIRECTORS*

=====================

Name : Mr. Cheng-hsiung Chen

Nationality : Macanese

Name : Mr. Hung-kuang Chen

Nationality : Macanese

Name : Mr. Yen-hung Chen

Nationality : Macanese

Name : Mr. Yi-ting Chen

Nationality : Macanese

*Core Business Description*

====================

Core Business

--------------------

The primary business focus of SUNLIGHT LTD - MACAO COMMERCIAL OFFSHORE is specialized professional services, including:

·Intermediary services

·Management consultancy

Key services include:

·Intermediary services

·Management consultancy

·Documentary

·Order book-in

·Overseas selling

·Trading consultants

*Primary Products*

==============

Products / Materials / Services Description Activity

--------------------------------------------------- ------------

Documentary Service

Intermediary services Service

Management consultancy Service

Order book-in Service

Overseas selling Service

Direct Parent : GOOD VICTORY INVESTMENTS LTD

Country : Samoa

PAYMENT RATING : 4 OBTAINED SCORES : 48

Rating Key	Implication	Implications
1	Scores 85–100	Excellent
2	Scores 75 – 84	Above Average
3	Scores 50 – 74	Average
4	Scores 35 – 49	Fair
5	Scores 15 – 34	Below Average
6	Scores 01 – 14	Poor
NR	No Data	No Data

The rating indicates the payment pattern of SC based upon our Payment Database, comments from suppliers of SC, information from banks (if available), as well as industrial sources.

Dealings on open terms may be possible for SMALL amounts depending on individual judgement experience.

Based on the corporate laws of Macao, legal entities which are Private Company with Limited Liability are not required to make public disclosure of their annual financials. Therefore no financials are available for this entity.

SC is considered small-sized in its line with a development history of 9 years. Credit dealings with SC in small amount appear acceptable.

Attached: trade references

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description Code Activity

Business Consulting Svcs, NEC 8748 Service

Management Services 8741 Service

Mgt Consulting Svcs 8742 Service

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description Code Activity

Business development/consulting 9878 Service

Business services, health, financial/insur. 9900 Service

legal/real estate, hotels, and misc repairs

Management consulting services 9875 Service

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

Products / Materials / Services Description Ranking Activity

Trading consultants Primary Service

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.05
UK Pound	1	Rs.83.45
Euro	1	Rs.72.53

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.