MIRA INFORM REPORT

Report No. :	310146
Report Date :	03.03.2015

IDENTIFICATION DETAILS

Name :	IMPERIAL BLUE SAPPHIRE INC.

Registered Office :	8^th Polaris Center, No. 48 Polaris St., Barangay Poblacion Makati City 1210

Country :	Philippines

Financials (as on) :	2013

Date of Incorporation :	12.10.2010

Legal Form :	Private Corporation

Line of Business :	Textile & Leather products, Yarn, blended yarn/textile. Cotton experts dealing in yarn & fabrics.

No. of Employee :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate

Payment Behaviour :	Slow

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 – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Philippines

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

PHILIPPINES ECONOMIC OVERVIEW

The economy has weathered global economic and financial downturns better than its regional peers due to minimal exposure to troubled international securities, lower dependence on exports, relatively resilient domestic consumption, large remittances from four- to five-million overseas Filipino workers, and a rapidly expanding business process outsourcing industry. The current account balance had recorded consecutive surpluses since 2003; international reserves are at record highs; the banking system is stable; and the stock market was Asia's second best-performer in 2012. Efforts to improve tax administration and expenditure management have helped ease the Philippines' tight fiscal situation and reduce high debt levels. The Philippines has received several credit rating upgrades on its sovereign debt, and has had little difficulty tapping domestic and international markets to finance its deficits. Economic growth in the Philippines averaged 4.5% during the MACAPAGAL-ARROYO administration, but poverty worsened during her term. Growth has accelerated under the AQUINO government, but with limited progress thus far in bringing down unemployment, which hovers around 7%, and improving the quality of jobs. Underemployment is nearly 20% and more than 40% of the employed are estimated to be working in the informal sector. The AQUINO administration has been working to boost the budgets for education, health, cash transfers to the poor, and other social spending programs, and is relying on the private sector to help fund major infrastructure projects under its Public-Private Partnership program. Long term challenges include reforming governance and the judicial system, building infrastructure, improving regulatory predictability, and the ease of doing business, attracting higher levels of local and foreign investments. The Philippine Constitution and the other laws continue to restrict foreign ownership in important activities/sectors (such as land ownership and public utilities).

Source : CIA

Company name and address

Company: IMPERIAL BLUE SAPPHIRE INC.

Address: 8^th Polaris Center, No. 48 Polaris St., Barangay Poblacion Makati City

1210

Country: Philippines

Service Type: Normal

FINDINGS

We conducted research and investigation on IMPERIAL BLUE SAPPHIRE INC. and showed the following, viz:

VERIFICATION WITH SECURITIES & EXCHANGE COMMISSION (SEC): IMPERIAL BLUE SAPPHIRE INC.

Legal Entity - PRIVATE CORPORATION

REGISTRATION

(Per General Information Sheet (GIS) for Year 2013)

Certificate No. : CS201016654

Date : October 12, 2010

Term : Fifty (50) years

Company Type : Stock Corporation

Fax No. : (632) 882 4845

Address: 48 Polaris St., Barangay Bel Air, Makati City

(Note: Currency in Philippine Peso, unless otherwise specified)

CAPITALIZATION

(As of 2013)

Authorized Capital Stock - 1,000,000. – 10,000 Shares Common

Amount Subscribed & Fully Paid Up - 500,000.

Par value per Share - 100.

PRIMARY PURPOSE

To Act as local Agent, representative or general managers of corporations, associations, firms & individuals organized, located or residing in the Philippines or any part of the world.

STOCKHOLDERS/DIRECTORS/OFFICERS

(As of 2013)

Name / Nationality	Position	Amount Paid Up
Shashank R. Pareek - Indian	Chairman/President	100,000.
Ma. Nycier R. Roldan, Pil.	Director	100,000.
Antonino R. Bugayong, Pil.	Corp. Secretary	100,000.
Sorita Pareek – Indian	Director	100,000.
Ma. Luisa I. Buloy, Pil.	Treasurer	100,000.
	Total	500,000. vvvvvvv

BUSINESS ACTIVITY

Products – Textile & Leather products, Yarn, blended yarn/textile. Cotton experts dealing in yarn & fabrics.

Address: No. 48 Polaris St., Bel Air, Makati City

Telephone No.: (63) 2 798-0277 / 812-5246

Email: i.bluesapphire.1@gmail.com

bluesapphire.marketing@gmail.com

Website: imperialbluesapphireinc.com.ph

Contact Person: Antonina Bugayong

FINANCIAL CONDITION

(Audited Financial Statement for years 2013, 2012, & 2011, as compiled)

BALANCE SHEET

ASSETS
	2013	2012	2011
Current Asset
Cash	177,477.	398,884.	18.038.
Pre-Operating Expenses	NIL	NIL	217,183.
Total Current Assets	177,477.	398,884.	235,221.
Total Assets	177,477. vvvvvvv	398,884. vvvvvvv	235,221. vvvvvvv
LIABILITIES AND STOCKHOLDER’S EQUITY
Current Liabilities
Advances from Officers	653,244.	328,004.	75,221.
Other Current Liabilities	83,816.	33,147.	NIL
Total Current Liabilities	737,060.	361,151.	75,221.
Total Liabilities	737,060.	361,151.	75,221.

Stockholder’s Equity
Share Capital	500,000.	500,000.	160,000.
Retained Earnings/(Deficit)	(1,059,584.)	(462,267.)	NIL
Total Stockholder’s Equity	( 559,584.)	37,733.	160,000.
Total Liabilities & Equity	177,477. vvvvvvvvvv	398,884. vvvvvvvv	235,221. vvvvvvv

INCOME STATEMENT

Gross Services	909,120.	439,680.	NIL
Gross Profit/(Loss)	( 90,840.)	19,680.	NIL
Administrative Expenses	(506,477.)	(481,947.)	NIL
Profit/(Loss) for the Year	(597,317.) vvvvvvvvv	(462,267.) vvvvvvvv	NIL

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.82
UK Pound	1	Rs.95.27
Euro	1	Rs.69.14

INFORMATION DETAILS

Analysis Done by :	KAR

Report Prepared by :	ANK

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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