MIRA INFORM REPORT

Report Date :

06.11.2013

IDENTIFICATION DETAILS

Name :	THE MAKEOVER CO. LTD.
Registered Office :	Flat B, 14/F., Hong Kong Jewellery Building, 178-180 Queen’s Road, Central
Country :	Hong Kong
Date of Incorporation :	11.03.2008
Com. Reg. No.:	39043998
Legal Form :	Private Limited Company
Line of Business :	Subject operates as general contractor engaged in interior designing and renovation Subject provides clients with the following services :- Air-Conditioning Services; Building or Working Permit Application for Clients; Complete or Partial Home Renovation; Custom Made Furniture; Electrical Installation & Related Services; Interior Designing; Materials & Equipment Sourcing; Other General Contractor Duties; & Plumbing Installation & Related Services
No. of Employees :	03

RATING & COMMENTS

MIRA’s Rating :

B

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

Status :	Small Company
Payment Behaviour :	No Complaints
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	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 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

THE MAKEOVER CO. LTD.

Company ADDRESS

Flat B, 14/F., Hong Kong Jewellery Building, 178-180 Queen’s Road, Central, Hong Kong.

PHONE: 852-6700 8186, 2899 5656, 2899 5665, 2889 5678

FAX: 852-2792 7805

E-MAIL: tmc@themakeovercompany.net

MANAGEMENT

Managing Director: Ms. Teresa Mary Chan

SUMMARY

Incorporated on: 11th March, 2008.

Organization: Private Limited Company.

Capital: Nominal: HK$10,000.00

Issued: HK$9,000.00

Business Category: Interior Decoration Project Contractor.

Employees: 3.

Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Banking Relation: Satisfactory.

Company ADDRESS

Registered Head Office:-

Flat B, 14/F., Hong Kong Jewellery Building, 178-180 Queen’s Road, Central, Hong Kong.

BUSINESS REGISTRATION NUMBER

39043998

COMPANY FILE NUMBER

1216924

MANAGEMENT

Managing Director: Ms. Teresa Mary Chan

Contact Person: Ms. Tracy Chan (Mobile: 852-9711 7794)

CAPITAL

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

Issued Share Capital: HK$9,000.00

SHAREHOLDER

(As per registry dated 11-03-2013)

Name	No. of shares
Teresa Mary CHAN	9,000 ====

DIRECTOR

(As per registry dated 11-03-2013)

Name (Nationality)	Address
Teresa Mary CHAN	Room D, 1/F., Lai Wah House, 12-16 Kwai Heung Street, Sai Ying Pun, Hong Kong.

SECRETARY

(As per registry dated 11-03-2013)

Name	Address	Co. No.
Smartalent Consultants Ltd.	Room 506, 5/F., Gold & Silver Commercial Building, 12-18 Mercer Street, Sheung Wan, Hong Kong.	0793654

HISTORY

The subject was incorporated on 11th March, 2008 as a private limited liability company under the Hong Kong Companies Ordinance.

Formerly the subject was located at Room D, 1/F., Lai Wah House, 12‑16 Kwai Heung Street, Sai Ying Pun, Hong Kong, moved to the present address in August 2013.

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

OPERATIONS

Activities: Interior Decoration Project Contractor.

Lines: All kinds of household equipment, sanitary ware, kitchen cabinets

Employees: 3.

Commodities Imported: Europe, other Asian countries, etc.

Business Territory: Hong Kong.

Terms/Sales/Services: COD or as per contracted.

Terms/Buying: L/C, T/T, etc.

FINANCIAL INFORMATION

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

Issued Share Capital: HK$9,000.00

Profit or Loss: Making a small profit every year.

Condition: Keeping in a satisfactory manner.

Facilities: Making rather active use of general banking facilities.

Payment: Met trade commitments as required.

Commercial Morality: Satisfactory.

Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Standing: Small.

GENERAL

Having issued 9,000 ordinary shares of HK$1.00 each, The Makeover Co. Ltd. is wholly owned by Ms. Teresa Mary Chan who is a Hong Kong businesswoman. She is also the only director of the subject.

The subject is a small independently owned and operated general contractor engaged in interior designing and renovation. It is a small-sized home renovation company.

The subject is able to provide clients with the following services:-

· Air-Conditioning Services;

Building or Working Permit Application for Clients;

Complete or Partial Home Renovation;

Custom Made Furniture;

Electrical Installation & Related Services;

Interior Designing;

Materials & Equipment Sourcing;

Other General Contractor Duties; &

Plumbing Installation & Related Services.

According to the subject, it is specialized in renovation Studios, Kitchens, Bathrooms, Bed Rooms, Sitting & Dinning Room.

Ms. Teresa Mary Chan can be reached at her mobile number 852‑6700 8186. The contact person of the subject Ms. Tracy Chan can be reached at her mobile number 852-9711 7794.

The subject’s old registered address was located at the residential address of Teresa Mary Chan at Room D, 1/F., Lai Wah House, 12-16 Kwai Heung Street, Sai Ying Pun, Hong Kong. It moved to the present address in August 2013. The business of the subject was not very active in the residential building.

The subject’s business is chiefly handled by the two Chans. History in Hong Kong is just over five years. However, its business is still under development.

On the whole, consider it good for normal business engagements in small credit amounts.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.79
UK Pound	1	Rs.98.66
Euro	1	Rs.83.42

INFORMATION DETAILS

Report Prepared by :

NIT

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.