MIRA INFORM REPORT

Report Date :

30.10.2013

IDENTIFICATION DETAILS

Name :	V-STAR INTERNATIONAL
Registered Office :	Flat C, 12/F., Dorfu Court, 5-6 Hau Fook Street, Tsimshatsui, Kowloon
Country :	Hongkong
Date of Incorporation :	20.02.2011
Com. Reg. No.:	53782566-000-02
Legal Form :	Sole Proprietorship
LINE OF BUSINESS :	IMPORTER AND EXPORTER OF ALL KINDS OF MOBILE PHONES AND ACCESSORIES
No. of Employees :	NIL

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 :	Slow but correct
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)
Hongkong	A2	A2

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

HONGKONG - 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

V-STAR INTERNATIONAL

ADDRESS: Flat C, 12/F., Dorfu Court, 5-6 Hau Fook Street, Tsimshatsui, Kowloon, Hong Kong.

PHONE: Not available

FAX: Not available

MANAGEMENT

Manager: Mr. Theagarajan Vinod Kumar

SUMMARY

Establishment: 20th February, 2011.

Organization: Sole Proprietorship.

Capital: Not disclosed.

Business Category: Telecommunication Product Trader.

Employees: Nil.

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

Banking Relation: Satisfactory.

ADDRESS

Registered Office:-

c/o KNG Consultants

Room 605, 6/F., Stag Building, 148-150 Queen’s Road Central, Hong Kong.

Head Office:-

Flat C, 12/F., Dorfu Court, 5-6 Hau Fook Street, Tsimshatsui, Kowloon, Hong Kong.

BUSINESS REGISTRATION NUMBER

53782566-000-02

MANAGEMENT

Manager: Mr. Theagarajan Vinod Kumar (mobile: 852-6991 1596)

SOLE PROPRIETOR

Name: Mr. Theagarajan Vinod KUMAR

Residential Address: No. 88 Canal Street, C.B. Road, Old Washermenpet, Chennai 600021, Tamil Nadu, India.

HISTORY

The subject was established on 20th February, 2011 as a sole proprietorship concern owned by Mr. Theagarajan Vinod Kumar under the Hong Kong Business Registration Regulations.

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

OPERATIONS

Activities: Importer and Exporter.

Lines: All kinds of mobile phones and accessories

Employees: Nil.

Commodities Imported: China, etc.

Markets: Asian countries, Middle East, etc.

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

Terms/Buying: L/C, pre-payment, etc.

FINANCIAL INFORMATION

Capital: Not disclosed.

Profit or Loss: Kept a balance account in 2012.

Condition: Business is under development.

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

V-Star International is a sole proprietorship set up and owned by Mr. Theagarajan Vinod Kumar who is an Indian. He is an India passport holder and does not have the right to reside in Hong Kong permanently.

The subject commenced business in February 2011. Its registered office is in a consultant firm located at Room 605, 6/F., Stag Building, 148-150 Queen’s Road Central, Hong Kong known as KNG Consultants which is handling its correspondences and documents. Its operating address is in a private building located at Flat C, 12/F., Dorfu Court, 5-6 Hau Fook Street, Tsimshatsui, Kowloon, Hong Kong. This is supposed to be the residence of Kumar when he is in Hong Kong. The residential building is not trespassed by outsiders. The subject has no employees in Hong Kong.

The subject’s telephone number and fax number have not registered with local telephone company nor listed on telephone directories. However, Kumar can be reached at his mobile phone number 852-6991 1596.

Formerly Topaz Communication was also located at the above-mentioned residential address. However, it has moved out. Now, it is located at Room C3, 4/F., Summit Building, 30 Man Yue Street, Hun Hom, Kowloon, Hong Kong.

The subject is trading in all kinds of mobile phones, accessories, electronic products. It is carrying GSM/PCS mobile phones and related accessories such as batteries, battery chargers. Most of the products are sourced from Shenzhen Special Economic Zone, China.

The subject had registered with the Office of the Telecommunications Authority [OFTA], The Government of Hong Kong SAR, the People’s Republic of China as a Radio Dealer (Unrestricted) Licensee. The subject bore the licence No. of RU00144991-RU. But in the latest name list issued by the Hong Kong SAR Government on 15th October, 2013, we do not find the subject’s name in the list.

The subject’s products are exported to India, the other Asian countries, the Middle East, etc. Business is improving. History in Hong Kong is just over two years.

The business of the subject is chiefly handled by Theagarajan Vinod Kumar himself.

On the whole, since the history of the subject is short in Hong Kong, consider it good for normal business engagements on L/C basis.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.46
UK Pound	1	Rs.98.99
Euro	1	Rs.84.72

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%)

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.