MIRA INFORM REPORT

Report Date :

04.06.2013

IDENTIFICATION DETAILS

Name :	BRIGHTEX CORPORATION LTD.

Registered Office :	C/o Asia Secretarial Services Ltd. Unit 1010, 10/F., Miramar Tower, 132 Nathan Road, Tsimshatsui, Kowloon

Country :	Hong Kong

Date of Incorporation :	09.10. 2012

Com. Reg. No.:	60453821

Legal Form :	Private Limited Liability Company

Line of Business :	Not Available

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING

STATUS

PROPOSED CREDIT LINE

New Business

Status :	New Company
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 – March 31^st, 2013

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

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 levies excise duties on only four commodities, namely: hard alcohol, tobacco, hydrocarbon oil, and methyl alcohol. There are no quotas or dumping laws. 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 9.1% of total system deposits in Hong Kong by the end of 2012, an increase of 59% from the previous 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 34.9 million in 2012, 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 2012 mainland Chinese companies constituted about 46.6% of the firms listed on the Hong Kong Stock Exchange and accounted for about 57.4% 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, and less than 2% in 2012. Credit expansion and tight housing supply conditions caused Hong Kong property prices to rise rapidly and inflation to rise 4.1% in 2012. 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

BRIGHTEX CORPORATION LTD.

ADDRESS:

Registered Office:-

c/o Asia Secretarial Services Ltd.

Unit 1010, 10/F., Miramar Tower, 132 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.

[Tel: 852-8102 2592; Fax: 852-8102 2593]

BUSINESS REGISTRATION NUMBER

60453821

COMPANY FILE NUMBER

1809541

DATE OF INCORPORATION

9th October, 2012.

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 09-10-2012)

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

Name

No. of share

Company Kit Secretarial Services Ltd., Hong Kong.

DIRECTOR

(As per registry dated 17-10-2012)

Name (Nationality)	Address
Claudio SAPONARO	Via 6 Caboto 6, 37138-Verona, Italy.

Name

(Nationality)

Address

Claudio SAPONARO

Via 6 Caboto 6, 37138-Verona, Italy.

SECRETARY

(As per registry dated 17-10-2012)

Name	Address	Co. No.
Asia Secretarial Services Ltd.	Unit 1010, 10/F., Miramar Tower, 132 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.	1401131

HISTORY

The subject was incorporated on 9th October, 2012 as a private limited liability company under the Hong Kong Companies Ordinance.

Formerly its registered office was in a commercial service provider located at Unit A, 3/F., Cheong Sun Tower, 116-118 Wing Lok Street, Hong Kong known as Company Kit Secretarial Services Ltd. which had handled its correspondences and documents. The subject changed its registered address to the present one with effect from 17th October, 2012 as it has changed it commercial service provider.

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

GENERAL

Brightex Corporation Ltd. was incorporated on 9th October, 2012 as a private limited liability company under the Hong Kong Companies Ordinance.

The subject does not have its own operating office. Its registered office is in a commercial service firm located at Unit 1010, 10/F., Miramar Tower, 132 Nathan Road, Tsimshatsui, Kowloon, Hong Kong known as Asia Secretarial Services Ltd. [ASS] which is handling its correspondences and documents. ASS is also the corporate secretary of the subject.

The subject has no employees in Hong Kong.

According to the Companies Registry of Hong Kong, the subject has just issued one ordinary share of HK$1.00 each which is owned by Company Kit Secretarial Services Ltd. [Company Kit]. Company Kit is the founder member of the subject.

The only director of the subject Mr. Claudio Saponaro is an Italy passport holder and does not have the right to reside in Hong Kong permanently. He is also the only director of the subject. It seems that Claudio Saponaro is the owner and operator of the subject.

The subject’s lines of business are unknown since the secretarial firm knows nothing about its business.

The director of the subject cannot be reached as he is not in Hong Kong. We can reach nobody at your given phone number 852-8218 0166 as this line is always engaged.

It is likely that the subject has got an associated company in Italy which is also operated by Claudio Saponaro.

It is also likely that the Italy firm deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong.

The subject’s business in Hong Kong is not active. History in Hong Kong is just about eight months.

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.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.56.57
UK Pound	1	Rs.86.15
Euro	1	Rs.73.64

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.