MIRA INFORM REPORT

Report Date :

22.11.2014

IDENTIFICATION DETAILS

Name :	CENTURY EXPORTS LTD.
Registered Office :	Room 1213, 12/F., Houston Centre, 63 Mody Road, Tsimshatsui East, Kowloon
Country :	Hong Kong
Date of Incorporation :	22.07.2009
Com. Reg. No.:	50813706
Legal Form :	Private Limited Company
Line of Business :	Importer, Exporter and Wholesaler of Telecommunication equipment, mobile phone and all accessories, health products, stone products
No. of Employees	05

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 – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
Hong Kong	A1	A1

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 has no tariffs on imported goods, and it levies excise duties on only four commodities, whether imported or produced locally: 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, its continued reliance on foreign trade and investment leaves it vulnerable to renewed global financial market volatility or a slowdown in the global economy. 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 12% of total system deposits in Hong Kong by the end of 2013. 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 total trade 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. Credit expansion and tight housing supply conditions have caused Hong Kong property prices to rise rapidly; consumer prices increased by more than 4% in 2013. 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. In 2013, Hong Kong and China signed new agreements under the Closer Economic Partnership Agreement, adopted in 2003 to forge closer ties between Hong Kong and the mainland. The new measures, effective from January 2014, cover services and trade facilitation, and will improve access to the mainland's service sector for Hong Kong-based companies.

Source : CIA

Company name and address

CENTURY EXPORTS LTD.

ADDRESS: Room 1213, 12/F., Houston Centre, 63 Mody Road, Tsimshatsui East, Kowloon, Hong Kong.

PHONE: 852-2199 7467, 2367 3062

FAX: 852-2125 8441

E-MAIL: info@centuryhkchina.com

MANAGEMENT

Managing Director: Mr. Sandeep Kumar Dhanuka

SUMMARY

Incorporated on: 22nd June, 2009.

Organization: Private Limited Company.

Issued Capital: HK$25,000,000.00

Business Category: Importer, Exporter and Wholesaler.

Annual Turnover: HK$55~60 million (Including associates)

Employees: 5. (Including associates)

Main Dealing Banker: HBZ Finance Ltd., Hong Kong.

Banking Relation: Satisfactory.

ADDRESS

Registered Head Office:-

Room 1213, 12/F., Houston Centre, 63 Mody Road, Tsimshatsui East, Kowloon, Hong Kong.

Associated Companies:-

Century Exports, Hong Kong. (Same address)

Century Traders, Hong Kong. (Same address)

Galaxmial Predera International, Hong Kong.

Galaxmial Predera Trading (H.K.) Co. Ltd., Hong Kong. [Dissolved]

Galaxmial Telecom Ltd., Hong Kong. [Dissolved]

BUSINESS REGISTRATION NUMBER

50813706

COMPANY FILE NUMBER

1347386

MANAGEMENT

Managing Director: Mr. Sandeep Kumar Dhanuka (Mobile: 852-9342 9600)

Contact Person: Mr. Singh Kulwinder

ISSUED CAPITAL

HK$25,000,000.00

Nominal Share Capital: HK$5,100,000.00 (Divided into 5,100,000 shares of HK$1.00 each)

Issued Share Capital: 5,100,000.00

SHAREHOLDER

(As per registry dated 22-06-2014)

Name	No. of shares
Sandeep Kumar DHANUKA	25,000,000 ========

DIRECTOR

(As per registry dated 22-06-2014)

Name (Nationality)	Address
Sandeep Kumar DHANUKA	Flat C, 11/F., Windsor Mansion, 29-31 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

SECRETARY

(As per registry dated 22-06-2014)

Name	Address	Co. No.
Akin Professionals Ltd.	20/F., Champion Building, 287-291 Des Voeux Road Central, Sheung Wan, Hong Kong.	1273165

HISTORY

The subject was incorporated on 22nd June, 2009 as a private limited liability company under the Hong Kong Companies Ordinance.

Formerly the subject was located at Flat C, 11/F., Windsor Mansion, 29‑31 Chatham Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present address with effect from 18th September, 2009.

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

OPERATIONS

Activities: Importer, Exporter and Wholesaler.

Lines: Telecommunication equipment, mobile phone and all accessories, health products, stone products

Employees: 5. (Including associates)

Commodities Imported: Imported from Europe, China, other Asian countries, etc.

Markets: Southeast East, Africa, the Middle East, India, etc.

Annual Turnover: HK$55~60 million (Including associates)

Terms/Sales: L/C or as per contracted.

Terms/Buying: L/C and T/T.

FINANCIAL INFORMATION

Issued Capital: HK$25,000,000.00

Mortgage or Charge: (See attachment)

Profit & Loss: Made small profits in the past three years.

Condition: Keeping in a normal manner.

Facilities: Rather actively using general banking facilities.

Payment: Met as required.

Commercial Morality: Satisfactory.

Bankers:-

HBZ Finance Ltd., Hong Kong.

Bank of Baroda, Hong Kong Branch.

Citibank, N.A., Hong Kong.

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

Standing: Small.

GENERAL

Having issued 25 million ordinary shares, Century Exports Ltd. is wholly owned by Mr. Sandeep Kumar Dhanuka who is an Indian. He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently. He is also the only director of the subject. Dhanuka can be reached at his Hong Kong mobile phone number 852-9342 9600.

The subject has had an affiliated company Century Traders which is also located at the same address. The subject and Century Traders are engaged in the same lines of business, more or less.

The subject is a telecommunication equipment and accessories trader. It is also a trader, exporter and distributor of a wide range of GSM, CDMA and Dual-Band mobile phones and its original accessories like hand free kit, battery charger, battery pack.

The subject is trading in all major brands of Mobile phones like Nokia, Samsung, Apple, Blackberry, Sony Ericsson, Motorola along with the leading Chinese brands like G’Five and GLX.

With its Headquarters in Hong Kong, the subject has its subsidiary offices in Singapore, Guangzhou, Yiwu , Shenzhen (all are in China), New York (US), New Delhi (India) and Calcutta (also in India).

The subject has registered with the Office of the Communications Authority (OFCA), The Government of Hong Kong SAR, the People’s Republic of China as a Radio Dealer (Unrestricted) Licensee. The subject bears the licence No. of RU00132922-RU.

Since 2010, the subject has been trading in health care products such as glucose test-strips and surgical items.

Since 2012, the subject has been manufacturing machine-cut chatons (imitation stone), glass beads, hotfix, stone chains and different shapes and sizes of imitation stones.

Besides, the subject has set up Century Exports-China Division which is dealing in a vast variety of products ranging from furniture and fittings, machinery, tiles and a whole lot of other sundry goods depending upon the customers’ demands. This Division is responsible for products sourcing and merchandising and going all the way to inspections for quality control , shipping and other follow ups.

The annual sales turnover of the subject ranges from HK$55 to 60 million. Making a small profit every year.

The history of the subject is just over five years in Hong Kong.

On the whole, consider it good for normal business engagements.

MORTGAGE OR CHARGE

Date	Particulars	Amount
24-05-2010	Instrument: Memorandum Property: Distinctive No. of Receipts Date of Issue Amount Due Date 91220300001174 03-05-2010 US$248,119.70 02-05-2011 Mortgagee: Bank of Baroda, Hong Kong Branch.	Loan or credit or other facilities
04-07-2011	Instrument: Memorandum Property: Distinctive No. of Receipts Date of Issue Amount Due Date 91220300001174 02-05-2011 US$250,678.64 01-05-2012 91220300001521 28-06-2011 HK$1,600,000.00 28-09-2011 Mortgagee: Bank of Baroda, Hong Kong Branch.	Loan or credit or other facilities
10-12-2012	Instrument: Lien & Set-off Agreement Property: Deposit No. Favouring Amount Due Date 1193 Century Exports Ltd. HK$2,500,000.00 11-03-2013 Mortgagee: HBZ Finance Ltd., Hong Kong.	For securing (general credit facility)
20-06-2013	Instrument: Deposit Deed Property: By way of a first fixed charge and as a continuing security for the Obligations, the Company charges and assigns absolutely all its rights, title to and interest in the Accounts and all Deposits from time to time in the Accounts and comprising the Accounts maintained with Citibank, N.A., any branch and Citibank (Hong Kong) Ltd. Mortgagee: Citibank, N.A., Hong Kong.	All moneys

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.85
UK Pound	1	Rs.97.01
Euro	1	Rs.77.62

INFORMATION DETAILS

Report Prepared by :

SMN

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.