MIRA INFORM REPORT

Report Date :

04.03.2013

IDENTIFICATION DETAILS

Name :	FORTUNE FAREAST PTE. LTD
Registered Office :	7500A Beach Road #11-303 The Plaza Singapore 199591
Country :	Singapore
Financials (as on) :	September 2012
Date of Incorporation :	17.08.2011
Com. Reg. No.:	201119575H
Legal Form :	Limited Private Company
Line of Business :	General Wholesale Trade (Including General Importers And Exporters)
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 :	Moderate
Payment Behaviour :	Slow
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)
Singapore	A1	A1

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

Singapore - ECONOMIC OVERVIEW

Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. Real GDP growth averaged 8.6% between 2004 and 2007. The economy contracted 1.0% in 2009 as a result of the global financial crisis, but rebounded 14.8% in 2010 and 4.9% in 2011, on the strength of renewed exports. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity, which has sunk to a compound annual growth rate of just 1.8% in the last decade. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub.

Source : CIA

Company Name:	Registered Number:
FORTUNE FAREAST PTE. LTD.	201119575H

Date Incorporated:	Registered Office:	Telephone Number:
17/08/2011	7500A BEACH ROAD #11-303 THE PLAZA SINGAPORE 199591	NA
Age of Company:	Website:	Industry Type:
2	NA	COMMERCE – WHOLESALE

Risk Dashboard
Days Beyond Terms	Trend:	No. of Litigation Counts:
Company DTC:		NA
NA
The entity is paying current to the creditors		No. of Charges(s): 0
Industry DTC
24

Directors		Corporate Structure
Number of Current Directors	2	Holding Company:	GOLDSTAR COTTEX LIMITED
Number that are shareholders	1	No. of Subsidiaries & Associated Companies:	NA

EXECUTIVE SUMMARY

Company Name	:	FORTUNE FAREAST PTE. LTD.
Registration No	:	201119575H
Date of Registration	:	17/08/2011
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	LIMITED PRIVATE COMPANY
Registered Address	:	7500A BEACH ROAD #11-303 THE PLAZA SINGAPORE 199591
Date of Change of Address	:	17/08/2011
Contact No.	:	NA
Fax No.	:	NA
Website	:	NA
Registered Activities	:	GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS)
Issued Ordinary Capital*	:	$1.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 1
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$1.00 SINGAPORE, DOLLARS
Paid-Up Preference Capital	:	NA
* Number of Shares includes number of Issued Treasury Shares
Issued Treasury Capital	:	NA
Paid-Up Treasury Capital	:	NA
No. of Local Subsidiaries	:	NA
No. of Local Associates	:	NA
Auditor	:	NA
Bankers / Financiers	:	NA
Turnover	:	SGD - SIN 0.00 (FY2012)
Net Worth	:	SGD - SIN (12,652.00) (FY2012)
No. of Bank Charges	:	NA
No. of Litigation Suits	:	NA
S1000 / SME 1000 / FG50 Ranking	:	No found for SINGAPORE 1000 and SME 1000
Compounded Annual Growth Rate (CAGR)	:	NA

SHAREHOLDER DETAILS

NAME	:	GOLDSTAR COTTEX LIMITED
SHAREHOLDER ID	:	T11UF4789D
NATIONALITY	:	INDIA
ADDRESS	:	NARAYANPUR, P.O. RAJARHAT- GOPLAPUR, 24 PARGANAS (N) , KOLKATA - 700136. INDIA
NO. OF ORD SHARES	:	1
% OF SHAREHOLDING	:	100%
CURRENCY	:	SINGAPORE, DOLLARS

OFFICER DETAILS

NAME	:	SAMIR SAHA
ADDRESS	:	DL-58 SALT LAKE CITY,SECTOR-II, BIDHAN NAGAR, KOLKATA 700091, INDIA
POSITION	:	DIRECTOR
DATE OF APPT	:	17/08/2011
NATIONALITY	:	INDIAN
I/C PASSPORT	:	G9152275
NAME	:	VANDANA BHOUNSLE
ADDRESS	:	1 RHU CROSS #14-06 COSTA RHU SINGAPORE 437431
POSITION	:	DIRECTOR
DATE OF APPT	:	17/08/2011
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S2648186D

KEY PERSONNEL PROFILE

Name:	SAMIR SAHA
NRIC Number:	G9152275
Available Address:	DL-58 SALT LAKE CITY,SECTOR-II, BIDHAN NAGAR, KOLKATA 700091, INDIA

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	FORTUNE FAREAST PTE. LTD.	DIRECTOR	17/08/2011	-	-

Previous Business

No.	Name	Status	Position	Appt Date	Last Known Inactive Date
No Trace

Bankruptcy Record

Case No.	Year	Date of Filing	Petitioner Name	Amount
No Trace

Litigation Search – Writ of Summons

Court	Case No.	Transfer	Year	Date of Filing	Amount	Cause Category
No Trace

SUBSIDIARIES AND ASSOCIATE COMPANIES

Company	Shareholdings (%)
NA

BANKERS/ FINANCIERS

Subject enjoys a normal banking routine with its bankers. To date, there are no bank charges registered against Subject by its bankers.

LITIGATION

Clear

COMPLIANCE

Date of Last AGM	:	12/12/2012
Date of Last AR	:	13/12/2012
Date of A/C Laid At Last AGM	:	30/09/2012

COMPLIANCE RATING FOR ANNUAL FILING

ANNUAL GENERAL MEETING,ANNUAL RETURN AND ACCOUNTS UP-TO-DATE

Note:

Provided by ACRA (Accounting and Corporate Regulatory Authority), the Compliance Rating for Annual Filing measures a company’s compliance with the provisions under S175, S197 or S201 of the Companies Act, Cap. 50.

Applicable to all “Live” locally incorporated companies except for the Limited Partnerships, Limited Liability Partnerships, Business Entities, Foreign Companies and Public Accounting Firms, the rating provide information on whether a company is up-to-date with the holding of its Annual General Meeting (AGM) with up-to-date financial statements and filing of its Annual Return (AR).

For more information: www.acra.gov.sg/compliance

FINANCIAL HIGHLIGHTS

Financial Figures	Company
	SEP 2012
Currency
Profit and Loss Key Figures
Turnover	0
Profit/(Loss) Before Tax	(12,653)
Profit After Tax attributable to Shareholders	(12,653)
Balance Sheet Key Figures
Total Assets	32,930
Current Assets	32,930
Non Current Assets	0
Total Liabilities	45,582
Current Liabilities	45,582
Non Current Liabilities	0
Shareholders' Funds	(12,652)
Share Capital	1
Total Reserves	(12,653)

FINANCIAL RATIOS

	Company
	SEP 2012
Growth %
Year-on-Year Growth	NA
Profitability
Profit Margin (%)	0.00
Return on Equity (%)	100.01
Return on Assets (%)	-38.42
Leverage
Total Debt/Equity (Times)	-3.60
Current Debt/Equity (Times)	0.00
Long Term Debt To Equity (Times)	0.00
Total Asset To Total Equity (Times)	-2.60
Asset Management
Total Assets Turnover (Times)	0.00
Fixed Assets Turnover (Times)	0.00
Liquidity
Current Ratio (Times)	0.72

FINANCIAL COMMENTARY

Profitability

We are unable to comment on Subject's profitability.

Liquidity

Current ratio stood at 0.72 times in FY12. This means that the company has SGD - SIN 0.72 of current assets for every SGD - SIN of current liability incurred.

A minimum figure of 1.0 would be considered the lowest limit that this figure should reach. Any business that has a current ratio near 1.0 may be heading for liquidity problems, and would need to be closely monitored. A figure greater than 2.0 would be more desirable, to act as a buffer against any short-term liquidity problems, and give creditors/bank managers a degree of comfort when granting credit/finance.

FINANCIAL COMMENTARY

Leverage

We are unable to comment on Subject's leverage.

Efficiency Ratio

Return on equity was 100.01 per cent for Subject in the current financial period. The return on equity measures the return earned on the owner's investment. Generally, the higher this return, the better off the owner.

We are unable to comment on Subject's return on assets.

We are unable to comment on Subject's total assets turnover ratio.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.48
UK Pound	1	Rs.82.71
Euro	1	Rs.71.27

INFORMATION DETAILS

Report Prepared by :

NLM

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.