MIRA INFORM REPORT

Report Date :

25.10.2013

IDENTIFICATION DETAILS

Name :	POWER RICH RESOURCES LTD.
Registered Office :	c/o Easiview Ltd. Suite 2001, 20/F., Chinachem Johnston Plaza, 186 Johnston Road, Wanchai
Country :	Hong Kong
Date of Incorporation :	22.11.2012
Com. Reg. No.:	60654114
Legal Form :	Private Limited Liability Company
Line of Business :	The subject’s lines of business are unknown since the secretarial firm also does not know any information about its activities.
No. of Employees :	No employees in Hong Kong [It is to be noted that the company does not have its own operating office in Hong Kong. The company uses the address of its secretariat as its correspondence address only. Subject operates from some other country and does not have a base in Hong Kong. Such companies are registered in Hong Kong just to tax benefit purpose and due to the strict privacy laws prevailing in the country. In such cases, the companies are not required to have any employees in Hong Kong nor do have an office there.]

RATING & COMMENTS

MIRA’s Rating :

NB

RATING

STATUS

PROPOSED CREDIT LINE

Status :	New Business
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	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

POWER RICH RESOURCES LTD.

ADDRESS

Registered Office:-

c/o Easiview Ltd.

Suite 2001, 20/F., Chinachem Johnston Plaza, 186 Johnston Road, Wanchai, Hong Kong.

Holding Company:-

Longtop International Trading Co. Ltd., British Virgin Islands.

BUSINESS REGISTRATION NUMBER

60654114

COMPANY FILE NUMBER

1829497

DATE OF INCORPORATION

22nd November, 2012.

CAPITAL

Nominal Share Capital: HK$40,000.000 (Divided into 40,000,000 shares of HK$1.00 each)

Issued Share Capital: HK$40,000.000

SHAREHOLDER

(As per registry dated 28-02-2013)

Name	No. of shares
Longtop International Trading Co. Ltd. Quastisky Building, P.O. Box 4389, Road Town, Tortola, British Virgin Islands.	40,000,000 ========

DIRECTOR

(As per registry dated 16-07-2013)

Name (Nationality)	Address
LIU Jianmin	Suite 2001, 20/F., Chinachem Johnston Plaza, 186 Johnston Road, Wanchai, Hong Kong.

SECRETARY

(As per registry dated 22-11-2012)

Name	Address	Co. No.
Easiview Ltd.	Suite 2001, 20/F., Chinachem Johnston Plaza, 186 Johnston Road, Wanchai, Hong Kong.	1113108

MORTGAGE OR CHARGE

(See attachment)

INCREASE OF NOMINAL CAPITAL

From

HK$10,000.00

to

HK$40,000.00

in

28-02-2013

ALTERNATION OF ISSUED CAPITAL

Initially	paid up	HK$ 10,000.00
28-02-2013	paid up	HK$39,990,000.00
		–––––––––––––––
Total:	paid up	40,000,000 ==============

GENERAL

Power Rich Resources Ltd. was incorporated on 22nd November, 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 “Suite 2001, 20/F., Chinachem Johnston Plaza, 186 Johnston Road, Wanchai, Hong Kong” known “Easiview Ltd.” [Easiview] which is handling its correspondences and documents. This firm is also the corporate secretary of the subject. Easiview is an associated company of Edward So & Co. which is an accountant firm. Edward So & Co. is also located at the above-mentioned address.

The subject has no employees in Hong Kong.

According to the Companies Registry of Hong Kong, the subject has issued 40 million ordinary shares of HK$1.00 each which are wholly owned by Longtop International Trading Co. Ltd., a BVI-registered firm.

The director Mr. Liu Jianmin who is a China merchant. He is a China passport holder and does not have the right to reside in Hong Kong permanently. He is also the only director of the subject. Currently Liu is residing in China.

The subject’s lines of business are unknown since the secretarial firm also does not know any information about its activities.

The director of the subject cannot be reached as he is in China.

No information of the subject can be obtained from our secondary sources.

The subject’s business in Hong Kong is not active. History in Hong Kong is just over eleven 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.

MORTGAGE OR CHARGE

(Since August 2013)

Date	Particulars	Amount
16-08-2013	Instrument: Trade Finance Security Assignment Property: The Borrower as beneficial owner:- (A) Assigns and agrees to assign absolutely to the Bank all the present and future rights, title, interests and benefits of the Borrower in and to the following assets:- (i) Export Credits; (ii) Export Collection Bills; (iii) Sales Contracts; (iv) Invoice Receivables; (v) Insurances; (vi) Trade Documents; and (vii) All claims, remedies and proceeds in connection with any of the foregoing; and (B) Charges and agrees to charge to the Bank by way of first fixed charge all the present and future rights, title, interests and benefits of the Borrower in and to the following assets: (i) the Goods together with their proceeds; and (ii) the Deposit; and (C) Pledges & agrees to pledge to the Bank the Pledged Goods and the Trade Documents which are now or may in the future be in the Bank’s possession Mortgagee: Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. [Business names: Rabobank Nederland, Rabobank and Rabobank International], Hong Kong Branch.	All obligations & liabilities

NOTE:

It is to be noted that the company does not have its own operating office in Hong Kong. The company uses the address of its secretariat as its correspondence address only. Subject operates from some other country and does not have a base in Hong Kong. Such companies are registered in Hong Kong just to tax benefit purpose and due to the strict privacy laws prevailing in the country. In such cases, the companies are not required to have any employees in Hong Kong nor do have an office there.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.41
UK Pound	1	Rs.99.53
Euro	1	Rs.84.82

INFORMATION DETAILS

Report Prepared by :

SDA

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.