MIRA INFORM REPORT

Report Date :

27.12.2014

IDENTIFICATION DETAILS

Name :	NEW WEST TECHNOLOGIES LTD.

Principal Place of Business in Taiwan:	No.24, Sub-Alley 8, Aly. 39, Ln. 321, Sec. 2, Longgang Rd., Zhongli City, Taoyuan County 32097

Country :	Taiwan

Date of Incorporation :	20.02.2012

Com. Reg. No.:	53026021

Legal Form :	Overseas Company

Line of Business :	engaged in Trading of Lighting Products includes LED Indoor Lights, LED Industrial and LED Street Lights such as LED Tube Lights

No of Employees :	About 5 Employees

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 – September 30, 2014

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

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:	New West Technologies Ltd.
Supplied Name:	NEW WEST TECHNOLOGIES LTD.
Trading Address:	No.24, Sub-Alley 8, Aly. 39, Ln. 321, Sec. 2, Longgang Rd., Zhongli City, Taoyuan County 32097, Taiwan (R.O.C.)
Supplied Address:	No. 24 Sub-Alley 8 Alley 39 Lane 321 Sec 2 Longang Rd Zhongli County 320 Taiwan
Telephone Number:	+886-9-3372-4177
Fax Number:	+886-3-457-4367
E-mail:	sales@nwtlimited.com / export@ntw.tw

Notes: The exact name and address are as above.

Credit Summary

Credit Opinion:

Business connections are permissible.

Company Identification Details

Registered Name:	New West Technologies Ltd.
Principal Place of Business in Taiwan:	No.24, Sub-Alley 8, Aly. 39, Ln. 321, Sec. 2, Longgang Rd., Zhongli City, Taoyuan County 32097, Taiwan (R.O.C.)
Date of Foundation:	2012-2-20
Registration Number:	53026021
Registry:	Department of Commerce, Ministry of Economic Affairs, R.O.C.
Registered Capital:	N/A
Litigation and Non-litigation Agent's Name:	Ali Rahat
Legal Form:	Overseas Company
Principal Activities:	engaged in Trading of Lighting Products includes LED Indoor Lights, LED Industrial and LED Street Lights such as LED Tube Lights
Staff:	About 5 Employees
Listed at Stock Exchange:	No
Date of Last Annual Return:	--

Note: The registered capital is not available from local registry or any other sources.

History

Subject was incorporated on 2012-2-20 with registered number 53026021 as Overseas Company in Taiwan.

Corporate Structure

Related Company in Pakistan

Address:	Suite # 19, 5th Floor Landmark Plaza 5/6 Jail Road Lahore Pakistan
Telephone:	+92-42-3571-5206
Fax:	+92-42-3571-5292
E-mail:	sales@ntw.com.pk

Shareholders

Subject is a foreign company, we can’t find shareholders information from Taiwan registry; from other sources the relevant information is not available, either.

Management Information

Core Management

Name	Ali Rahat
Position	Manager
Nationality:	Indian

Operation Information

	Headquarters
Add	No.24, Sub-Alley 8, Aly. 39, Ln. 321, Sec. 2, Longgang Rd., Zhongli City, Taoyuan County 32097, Taiwan (R.O.C.)

Production Information

l Subject is a trader of lighting products without any production activities.

Purchase Information

l The registered activities of subject:

1	As the representative of the company to make contracts quote price, negotiate price, bid and purchase with other Taiwan companies.

l It is introduced that subject purchases products mainly from its cooperative factories in Taiwan.

Sales Information

l The subject is mainly engaged in sales of lighting products.

l Subject’s major products are LED indoor lights, LED industrial and LED street lights such as LED tube lights.

l It is introduced that subject’s selling territory is both at home and abroad.

Import and export right:

Import right	Yes
Export right	Yes

Settlements

Purchase

1. Domestic Purchase

Products	Lighting products
Payment Terms	Cash, T/T

Import

Subject has little import.

Sales

1. Domestic Markets

Product	Lighting products
Selling Terms	Cash, T/T

2. Export

Product	Lighting products
Selling Terms	T/T

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 declined to disclose its financials citing the grounds of company’s confidentiality; from other sources we could not obtain such information, either.

Bankers

Subject declined to disclose its bank details; from other source we could not 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.

Special Note

Interview Details

Name

Ms. Jiang

Note: From local registry, we found another company has the same name and address in Taiwan which was newly incorporated on 2014-5-28 with registered number “54817108” and legal form “private limited liability company”. The shareholder and director is Ali Rahat.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.64
UK Pound	1	Rs.98.98
Euro	1	Rs.77.74

INFORMATION DETAILS

Analysis Done by :	SUM

Report Prepared by :	MNL

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.