MIRA INFORM REPORT

Report Date :

31.10.2013

IDENTIFICATION DETAILS

Name :	LUSTRATION LIFE CO., LTD

Registered Office :	No.74, Hsin Shen Rd., Chaujou Chen, Ping Tung Hsien

Country :	Taiwan

Date of Incorporation :	29.06.2000

Com. Reg. No.:	70591485

Legal Form :	Private Limited Liability Company

Line of Business :	Trading of organic food

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

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

Status :	Moderate

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)

Taiwan

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

taiwan - ECONOMIC OVERVIEW

Taiwan has a dynamic capitalist economy with gradually decreasing government guidance of investment and foreign trade. Exports, led by electronics, machinery, and petrochemicals have provided the primary impetus for economic development. This heavy dependence on exports exposes the economy to fluctuations in world demand. In 2009, Taiwan's GDP contracted 1.8%, due primarily to a 13.1% year-on-year decline in exports. In 2010 GDP grew 10.7%, as exports returned to the level of previous years, and in 2011, grew 4.0%. In 2012, however, growth fell to 1.3%, because of softening global demand. Taiwan's diplomatic isolation, low birth rate, and rapidly aging population are major long-term challenges. Free trade agreements have proliferated in East Asia over the past several years, but except for the landmark Economic Cooperation Framework Agreement (ECFA) signed with China in June 2010, so far Taiwan has been excluded from this greater economic integration in part because of its diplomatic status. Negotiations continue on such follow-on components of ECFA regarding trade in goods and services. The MA administration has said that the ECFA will serve as a stepping stone toward trade pacts with other key trade partners, which Taiwan subsequently launched with Singapore and New Zealand. Taiwan's Total Fertility rate of just over one child per woman is among the lowest in the world, raising the prospect of future labor shortages, falling domestic demand, and declining tax revenues. Taiwan's population is aging quickly, with the number of people over 65 accounting for 11.2% of the island's total population as of 2012. The island runs a large trade surplus largely because of its surplus with China, and its foreign reserves are the world's fifth largest, behind China, Japan, Saudi Arabia, and Russia. In 2006 China overtook the US to become Taiwan's second-largest source of imports after Japan. China is also the island's number one destination for foreign direct investment. Three financial memorandums of understanding, covering banking, securities, and insurance, took effect in mid-January 2010, opening the island to greater investments from the mainland's financial firms and institutional investors, and providing new opportunities for Taiwan financial firms to operate in China. In August 2012, Taiwan Central Bank signed a memorandum of understanding on cross-Strait currency settlement with its Chinese counterpart. The MOU allows for the direct settlement of Chinese RMB and the New Taiwan dollar across the Strait, which could help develop Taiwan into a local RMB hub. Closer economic links with the mainland bring greater opportunities for the Taiwan economy, but also poses new challenges as the island becomes more economically dependent on China while political differences remain unresolved.

Source : CIA

Contact Points

Company Name:	Lustration Life Co., Ltd
Supplied Name:	LUSTRATION LIFE CO LTD
Trading Address:	No.74, Hsin Shen Rd., Chaujou Chen, Ping Tung Hsien, Taiwan, R.O.C
Supplied Address:	74 Hsin Shen Road Chaujou Chen
Telephone Number:	+886-8-7898-359
Fax Number:	+886-8-7898-061
E-mail:	chinjin.life@msa.hinet.net

Notes: The exact name and address are as above.

Company Identification Details

Registered Name:	LUSTRATION LIFE CO., LTD
Registered Address:	No.74, Hsin Shen Rd., Chaujou Chen, Ping Tung Hsien, Taiwan, R.O.C
Date of Foundation:	2000-6-29
Registration Number:	70591485
Registry:	MOEA Central Office
Registered Capital:	NTD 5,000,000 (USD 167,500) (As of 2013.10, 1 NTD = 0.0335 USD)
Legal Representatives:	Wenbin Qiu
Legal Form:	Private Limited Liability Company
Principal Activities:	Trading of organic food
Staff:	N/A
Listed at Stock Exchange:	No
Date of Last Annual Return:	2012-2-4

Notes: Subject declined to disclose its staff number; from other source we cannot obtain the relevant information, either.

History

Subject was incorporated on 2000-6-29 with registered number 70591485 as Private Limited Liability Company in Taiwan.

Shareholders

(Unit: NTD)

Name	Subscription Amount
Wenbin Qiu	3,500,000

The information above is that of subject’s major shareholders.

Subsidiaries & Branches

Office

Address

No.15, Rongji St., Chaujou Chen, Ping Tung Hsien, Taiwan, R.O.C

Personnel Information

Core Management

Directors

Name	Wenbin Qiu
Position	Director

Operation Information

Offices & Factories

	Headquarters
Add	No.74, Hsin Shen Rd., Chaujou Chen, Ping Tung Hsien, Taiwan, R.O.C

Production Information

Subject is a trader of organic food and etc without any production activities

Purchase Information

The registered activities of subject:

Business Code	Details
F101020	Wholesales of vegetables.
F101030	Wholesales of fruits.
F101040	Wholesales of animal by-products.
F101100	Wholesales of flowers.
F102020	Wholesales of edible oil.
F102040	Wholesales of drinks.
F102070	Wholesales of canned foods.
F102080	Wholesales of dehydrated food.
F102110	Wholesales of baked food.
F102120	Wholesales of sugar.
F102130	Wholesales of condiment.
F102140	Wholesales of foods of vermicelli.
F104050	Wholesales of garment.
F106010	Wholesales of hardware.
F106020	Wholesales of daily supplies.
F106050	Wholesales of ceramics and glassware.
F301030	General department store industry
F401010	International trading business.
F102030	Wholesales of cigarette and wine.
F102170	Wholesales of food and miscellaneous goods.
F104110	Wholesales of cloth, wearing, shoes, caps, umbrella and garment accessories.
F105050	Wholesales of furniture, sleeping supplies, kitchenware and decoration.
F107030	Wholesales of cleaning products.
F108040	Wholesales of cosmetic.
F109070	Wholesales of products about culture and education, musical instrument and entertainment
A102060	Food dealing.

It is introduced that subject purchases its products both at home and abroad.

Sales Information

The subject is mainly engaged in sales of organic food and etc.

It is introduced that subject’s major products include organic food, vegetables and fruits without chemical pesticides, olive oil, grape seed oil and etc.

It is introduced that subject’s selling territory is mainly in Taiwan domestic market.

It is introduced that subject’s major customers are local restaurants, supermarkets and etc.

Import and export right:

Import right	Yes
Export right	Yes

Settlements

Purchase

Domestic Purchase

Product	Payment Terms	Proportion
Organic food and etc	COD, CBD and etc	100%

Foreign Purchase

Product	Payment Terms	Proportion
Organic food and etc	CBD and etc	100%

Sales

Domestic Markets (Taiwan)

Product	Sales Terms	Proportion
Organic food and etc	COD, CBD and etc	100%

Export

The subject has little export.

Financial Information

Subject has no obligations to disclose its financial statements to the third party according to the relevant policy in Taiwan and the only source from which we can obtain the information is the subject itself.

Subject’s relevant staff Ms. Huang declined to disclose its financials citing the grounds of company’s confidentiality; from other source we can not obtain the relevant information, either.

Bankers

Subject declined to disclose its bank details; from other source we cannot obtain the relevant information, either.

Public Record

Mortgage

No chattel mortgage record of subject has been found within the recent 3 months.

Lawsuit

Up to date of reporting, no existing or latent litigation of the subject has been found.

Interview Details

Name	Ms. Huang
Department	Sales Department
E-mail	show@lustrationlife.com

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.49
UK Pound	1	Rs.98.71
Euro	1	Rs.84.49

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.